Today
OpenAI raises $9.6b in funding at $228b valuation
The size of the investment underscores the tech industry’s belief in the power of AI, and its appetite for the extremely costly research powering its advancement.
- Shirin Ghaffary and Rachel Metz
Tesla’s first quarterly sales gain this year comes up short
The Elon Musk-led company handed over 462,890 vehicles to customers in the past three months. Its shares tumbled, paring some of their recent rally.
- Kara Carlson and Dana Hull
Yesterday
- Opinion
- Chanticleer
Investors shouldn’t worry about Iran’s attack on Israel – yet
The “risk off” reaction of global markets to the missile barrage is predictable. But there are good reasons to look past the escalating conflict.
- James Thomson
This Month
Why Fed-obsessed US traders are ignoring China’s soaring sharemarket
The Asian giant’s stunning equity market surge has registered with US traders, underlining China’s limited role as an engine for America’s economy.
- Lu Wang and Yiqin Shen
September
- Opinion
- Chanticleer
The ‘everything bubble’ is back. Here are five dangers to watch
Thanks to the Fed and China, markets are back at the levels reached during the 2021 frenzy. But it might not take much for investors to let a little air out.
- James Thomson
Bullishness persists in what BofA calls a ‘bubble dream’
US equities traded sideways to end the week, however, optimism about the outlook has the S&P 500 on a path to more record highs this year.
- Timothy Moore
Fed’s favoured inflation gauge, consumer spending edge higher
The so-called core personal consumption expenditures price index, which excludes volatile food and energy items, increased 0.1 per cent from July.
- Matthew Boesler
Meta stock bulls look for next rally catalyst
Meta’s annual Connect conference kicks off this week, with industry buzz around the latest technology reveal and updated by chief executive Mark Zuckerberg.
- Carmen Reinicke
- Opinion
- Chanticleer
Hard for RBA to cut rates without a breaking point
It’s nearly four years since we last had a rate cut. We could be waiting a while longer.
- Anthony Macdonald
China unleashes stimulus blitz to hit annual growth goal
The central bank announced a cut to the amount of money banks must hold in reserve, taking it to the lowest level since at least 2020. It also cut a key policy rate.
- Updated
- Wenjin Lv and Alan Wong
Trump, Harris to turbocharge economic pitches at duelling events
The economy has become an election focal point, with the candidates offering a slew of competing proposals to push tax breaks, credits and other programs.
- Alicia Diaz, Jennifer Epstein and Josh Wingrove
S&P 500 risks tilt to the upside, strategists say
For bullish market watchers, the outlook is clearer now that the US has started cutting interest rates: hang on for more record highs.
- Timothy Moore
How investors should play the first rate cut
Australian market participants are all-in on the immaculate soft landing narrative. But history says they need to tread carefully as interest rates come down.
- Updated
- James Thomson and Jonathan Shapiro
- Opinion
- Chanticleer
Why no one should be celebrating the Fed’s super-sized rate cut
Having pushed shares to record levels, investors must now ask what an emergency move from the Federal Reserve says about where global markets are heading.
- Updated
- James Thomson
‘Once you go big, there’s no going back’: Wall Street reacts
Markets got what they wanted from the US Federal Reserve, although central bank chairman Jerome Powell dashed hopes for another 50 basis point move.
- Timothy Moore
- Opinion
- Chanticleer
Bonds and oil scream ‘recession’. Will stocks start to care?
Australian and US equity markets keep making fresh record highs, ignoring violent and unusual moves in bonds and commodities. Someone has to be wrong.
- James Thomson
‘Nervous bulls’ await US interest rate decision: BofA survey
Global fund managers retain overweight positions in equities, remain crowded in tech stocks and are hopeful of a soft landing for the American economy.
- Timothy Moore
- Opinion
- Chanticleer
Wall Street giant says rate cuts story is all wrong
The market is only pricing in the good stuff according to Apollo Global, one of the big names on Wall Street.
- Anthony Macdonald
JPMorgan to cap junior bankers’ working day – at 13 hours
The move comes as Wall Street banks look to allay concerns that they have fostered a culture of overworking.
- James Warrington
JPMorgan leads bank-stock slump after tempering revenue optimism
Shares in the Wall Street giant fell after its president said analysts were being too optimistic, adding to a more pessimistic outlook for the biggest US banks.
- Updated
- Hannah Levitt