Middle East buyers circling Santos: Bloomberg. Oil, gold prices jump. Nasdaq, S&P hit records in shortened, mixed US session ahead of its Independence Day break. US Fed Reserve minutes signal no hurry on rate cuts.
Despite higher-than-expected inflation data and increasingly hawkish rhetoric from the RBA, the chances of an August rate hike remain — maybe confoundingly — low.
May retail sales, building approvals higher than expected. ACCC’s interim nod to Armaguard save. Booktopia enters administration. AusSuper’s ‘solid’ returns. APA flags $145m Qenos hit.
Minutes from the Reserve Bank’s June board meeting show it’s still reluctant to lift interest rates, yet some economists believe it is setting the scene for an increase.
RBA minutes show narrowing path to normal inflation. Liontown soars on Kathleen Valley funding, offtake deal with LG Energy. Union hails ‘bittersweet’ Bonza liquidation.
After another surprisingly resilient quarter for Western economies and markets, political uncertainty is increasingly seen as a hurdle.
Anglo fire lights up rival coal miners. Brambles US chief to exit in six months over ‘cultural differences’. Lendlease to sell US military business for $480m. WiseTech billionaire’s $139.5m June selldown.
Australian stocks have delivered a solid return for the 2024 financial year of close to 8 per cent, according to the ASX 200 but a market correction is due.
Nine staff pass motion of no confidence against CEO after job cuts revealed. ANZ, Suncorp Bank gain on deal completion. IAG secures earnings volatility cover. Adore Beauty buying iKOU for $25m. Mirvac’s $2bn Sydney tower gets backer.
A restart of rate hikes would complicate the stock market outlook with banks, consumer discretionary and housing-related stocks in the firing line, according to Morgan Stanley.
Original URL: https://www.theaustralian.com.au/author/david-rogers