To The Moon

The Australian sharemarket fell on Tuesday, tracking broad weakness in US futures stock indices as investors turned cautious about the path of interest rates in America and Australia ahead of key labour data in the world’s largest economy.The US will release its long-awaited combined employment reports for October and November later, following delays to data collection during the longest government shutdown in America’s history. Markets expect at least two more rate reductions by the Federal Reserve next year.The S&P/ASX 200 eased 0.4%, or 36.1 points, to 8598.90, in the second consecutive session of losses. Of the 11 sectors, only industrials and consumer staples closed in the green.Rate-sensitive sectors, including tech, consumer discretionary and real estate, were among the laggards

The Australian sharemarket opened higher on Tuesday as gains by the heavyweight miners and banks offset falls elsewhere.The S&P/ASX 200 index advanced 0.4%, or by 35.10 points, to 8670.10 at 10.10am AEDT, with six of the 11 sectors stronger.Financials was the best performer, up 1.1% in early trade, with ANZ up 2%, National Australia Bank by 1.7%, Commonwealth Bank 1.4% and Westpac by 1.1%.Miners were mixed with BHP and Rio Tinto up 0.5% and 1.2% respectively as copper rose overnight as markets focused on tight supply next year, with renewed disruptions and resilient demand offsetting concerns about the global economy, ANZ says. Among gold miners, Northern Star fell 0.7%, but Newmont rose 0.7%.DroneShield rocketed 19.6% to be the market leader, as it secured a $49.6 million contract thr

The Australian sharemarket dropped on Monday after a sell-off in commodity prices hit the mining giants, with both BHP and Rio Tinto tumbling more than 2%.The S&P/ASX 200 index fell 62.3 points, or 0.7%, to 8635, tracking broad weakness on Wall Street amid investor jitters about the US tech sector. On the ASX, the materials sector was by far the biggest detractor on the bourse, leading ten of the 11 sectors into the red.That’s after copper fell more than 3% on Friday from a record high, while iron ore futures lost as much as 1.6% in Singapore to $US100.70 a tonne on Monday, after China said it would introduce a licensing system on the export of certain steel products from January.“A risk-off tone across markets weighed on sentiment across the base metals complex, with copper giving up

The Australian sharemarket opened lower on Monday as lower commodity prices weighed on local stocks ahead of the federal government’s mid-year budget and economic update.The S&P/ASX 200 index fell 49.5 points, or 0.6% to 8647.80 at 10.10am AEDT as all 11 sectors traded down.Materials slumped as copper fell more than 3% on Friday as a risk-off tone swept markets, with a sell-off in artificial intelligence-focused stocks triggering profit taking across the base metals complex, according to ANZ. BHP dropped 1.6%, Rio Tinto 1.1% and South32 by 1.4%. Fortescue fell 0.8% as it struck a binding deal to acquire the remaining 64% of Alta Copper it does not already own at $C1.4 per share, moving to full control of the Canadian-listed developer via a plan of arrangement.Technology all weighed as

The Australian sharemarket sank for a fourth straight week to a six-month low, with nearly $40 billion wiped out on Friday amid renewed AI jitters and a stronger-than-expected US jobs report that clouded the outlook for rate cuts.The S&P/ASX 200 fell 136.20 points, or 1.6%, to 8416.50, taking its weekly loss to 2.5%. The index has now dropped 5.2% in November, putting the month on track for its worst performance since September 2022.Capital.com analyst Kyle Rodda said the sell-off was driven by uncertainty over US monetary policy after the economy added 119,000 jobs versus forecasts for 50,000.“While the chances of a cut are marginally higher, the markets are still implying a line-ball decision in December. There’s also the question of the trajectory for rates going into 2026 and wheth

The Australian sharemarket fell sharply to a six-month low at the open on Friday as uncertainty around interest rates in the world’s largest economy following a stronger-than-expected US jobs report sparked a widespread selloff for global equities.The S&P/ASX 200 index plunged 164.70 points, or 1.9% to 8388 at 10.10am AEDT – with a close at this level the lowest since late May. Wall Street initially started overnight trade up following Nvidia’s strong earnings beat but then soured as a mixed US September report showed 119,000 jobs created — well above expectations for 50,000 — but the jobless rate unexpectedly climbed to 4.4%.This saw S&P 500 dive 1.6% and the tech-heavy Nasdaq 100 by 2.2%.Capital.com senior market analyst Kyle Rodda said that the best explanation for the sell-off

The Australian sharemarket jumped 1.2% on Thursday as investors piled back into technology stocks after artificial intelligence poster child Nvidia reported earnings that blew past expectations.The S&P/ASX 200 Index rose 104.8 points, to 8552.7 at the closing bell, rebounding from its lowest level in almost six months as the local tech sector jumped 2.4%. Nine out of the 11 sectors were in the green.The All Ordinaries were up 1.3%.Nvidia shares are up more than 5% in after-hours trading after the US chip maker reported third-quarter revenue of $US57 billion ($88 billion) and forecast revenue for Q4 to hit $US65 billion which is about $US3 billion more than the market had predicted.The ASX 200 had fallen about 7% from its peak in late October through yesterday amid concerns about frothy

The Australian sharemarket has accelerated from a near six-month low on Thursday, buoyed by a strong bounce in Wall Street futures after AI-darling Nvidia delivered a better-than-expected result, helping to calm market nerves.The S&P/ASX 200 index rose 0.7%, or by 58.90 points to 8506.80 at 10.10am AEDT, with technology pacing gains as it climbed 4.4%.Nvidia reported third-quarter revenue of $US57 billion ($88 billion) and that it expects the fourth quarter to hit $US65 billion. The company forecast gross margins to be 74.8% and 75.0% in the fourth quarter. Its share price in after-hours trade was up more than 5%.WiseTech Global roared 4.8% on upbeat confidence in the sector and as it formalised the retirement of long-serving director Michael Gregg, with his departure effective at the

The Australian sharemarket fell to its lowest level in almost six months, despite strong gains by the gold sector, as investors took some money off the table before US chip giant Nvidia reports earnings.The benchmark S&P/ASX 200 index closed down 21.2 points, or 0.3%, to 8447.90, with six of the 11 sectors trading in the red. That’s after $60 billion was erased in market value in the previous session amid growing anxiety about the market’s lofty valuations and Nvidia’s results which are due on Thursday morning AEDT.“The artificial intelligence sector is beset with worry over the stretched valuation of stocks, scale of companies’ capital expenditure, and the broader concern about the direction of interest rates,” said Moomoo Australia and New Zealand dealing manager Paco Chow.“With Nvid

The Australian sharemarket opened little changed from the year’s second-biggest drop on Tuesday as investors erased $60 billion in value on growing anxiety about chip giant Nvidia’s upcoming results and concerns that interest rates in the US won’t fall soon.The S&P/ASX 200 index rose 1.8 points to 8470.90 at 10.12am AEDT, with five of the 11 sectors in the green. Strong gains from energy and miners, as well as defensive sectors prevented the benchmark index from trading lower.Crude oil prices rose as markets braced for deeper disruptions to Russian supply, with the European Union and US moving to further restrict Moscow’s ability to fund its war in Ukraine. This helped Woodside to rise by 1.3% and Santos 0.6%.Materials were also supported as gold prices lifted as safe-haven demand retu