Tag: markets

  • Markets live updates: WiseTech shares plunge on ACCC raid, ASX falls for sixth day in a row | ACC…

    Markets live updates: WiseTech shares plunge on ACCC raid, ASX falls for sixth day in a row | ACC…

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    Markets live updates: WiseTech shares plunge on ACCC raid, ASX falls for sixth day in a row

    The competition watchdog has executed a search warrant on WiseTech Global, sending shares in the logistics software firm plunging.

    The Australian share market has fallen for its sixth consecutive day, following another weak session on Wall Street.

    Tech titan Meta, the parent company of Facebook, Instagram, and WhatsApp, is defending itself in US court against claims that it designed deliberatively addictive products aimed at children.

    What’s at stake in this bellwether case? And what happens if Meta loses?

    And financial intelligence agency AUSTRAC has made hundreds of referrals to authorities in connection with an investigation that has uncovered what the regulator is calling 'coordinated mortgage fraud.’  

    ACCC raids WiseTech Global, sending shares into steep descent

    Officials from the competition regulator have raided the offices of WiseTech Global in a search for documents and electronic data to help assess whether the global logistics software giant breached consumer laws.

    WiseTech told investors on Wednesday that a search warrant had been executed as part of an Australian Competition and Consumer Commission investigation, but did not provide details. Shares slumped 11 per cent after the announcement to $38.34 in afternoon trading.

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    The dynamic landscape of current events often brings forth significant discussions. Monitoring these developments provides crucial insights.

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  • Markets today: Banks weigh down ASX, Sunrise Energy jumps after Pentagon deal | Westpac mortgage …

    Markets today: Banks weigh down ASX, Sunrise Energy jumps after Pentagon deal | Westpac mortgage …

    Explore the latest developments concerning Markets today: Banks.

    Markets today: Banks weigh down ASX, Sunrise Energy jumps after Pentagon deal

    Australia’s sharemarket has started the week on the back foot after a dip in mortgage applications raised questions about coming bank earnings.

    The S&P/ASX200 fell 31 points on Monday, down 0.3 per cent to 9232.6, as the broader All Ordinaries lost 21.1 points, or 0.2 per cent, to 9424.

    Westpac tumbled more than 5 per cent after its third-quarter mortgage applications slumped by a fifth following May’s federal budget announcement, raising concerns about how banks would fare this earnings season.

    Traders had been bracing for budget-related volatility to hit the market, likely starting with the banks, IG market analyst Tony Sycamore said.

    “Impacts on property prices, credit growth and removing investors from the market, that’s going to flow through to the banks,” Sycamore said.

    Westpac mortgage applications plunge 20pc after budget, rate hikes

    Westpac is forecasting a sharp slowdown in demand from property investors, telling shareholders that total mortgage applications had slumped by a fifth since Labor made sweeping changes to tax concessions in May.

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    The dynamic landscape of current events often brings forth significant discussions. Monitoring these developments provides crucial insights.

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  • US stock markets fall amid Iran strikes and potential higher interest rates | Morning Wrap: ASX 2…

    US stock markets fall amid Iran strikes and potential higher interest rates | Morning Wrap: ASX 2…

    Explore the latest developments concerning US stock markets.

    US stock markets fall amid Iran strikes and potential higher interest rates

    Dow down 1.09%, or 500 points, as S&P 500 sees a small loss and tech-heavy Nasdaq rises slightly

    US stock markets fell on Wednesday as the US continued strikes on Iran and the Federal Reserve flagged concerns that would warrant higher interest rates.

    Donald Trump’s declaration at the Nato summit in Ankara that the Iran-US ceasefire is over sent oil prices sharply higher on Wednesday. Brent crude, the global benchmark, jumped more than 5% to crest $80 a barrel. US stocks fell in step, with the Dow down 1.09%, or 500 points, at closing Wednesday afternoon. The S&P 500 saw a small loss while the tech-heavy Nasdaq rose slightly. Global stocks had fallen earlier in the day, with the UK’s FTSE 100 down 1% as Japan’s Nikkei fell 2.1%.

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    S&P 500 futures are little changed as traders assess rising tensions between the U.S. and Iran: Live updates

    S&P 500 futures were marginally higher early Thursday after the market sold off on renewed U.S.-Iran tensions and a jump in oil prices.

    S&P 500 futures were 0.13% higher. Futures tied to the Dow Jones Industrial Average were up 70 points, or around 0.1%. Nasdaq 100 futures advanced 0.1%.

    In Asia, South Korea's Kospi surged on Thursday after falling into a bear market the day before. It advanced 2.88%, while the small-cap Kosdaq gained 3.67%. Japan's Nikkei 225 added 1.88% and the Topix was 0.36% higher. Australia's benchmark S&P/ASX 200 was 0.69% lower.

    Hong Kong Hang Seng Index inched 0.16% higher, while mainland China's CSI 300 was flat.

    The U.S. launched fresh strikes on Iran in response to Tehran's attacks on commercial shipping in and around the Strait of Hormuz, U.S. Central Command said Wednesday afternoon. West Texas Intermediate crude futures were last up nearly 1%.

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  • US markets see biggest slump since start of US-Israel war on Iran | Stock markets | US stocks fal…

    US markets see biggest slump since start of US-Israel war on Iran | Stock markets | US stocks fal…

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    US markets see biggest slump since start of US-Israel war on Iran | Stock markets

    Dow closed 450 points down and S&P dipped 1.7% while Nasdaq fell 2.3% into correction territory

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    US markets saw their biggest slump since the start of the US-Israel war with Iran on Thursday as Donald Trump said the conflict’s impact on oil prices had not been as bad as he expected.

    The Dow closed 450 points down, while the S&P 500 dipped 1.7%. The tech-heavy Nasdaq fell 2.3%, plunging into correction territory, which happens when an index falls at least 10% below its most recent peak.

    Oil prices have surged since the start of the conflict, reaching levels not seen since Russia’s invasion of Ukraine pushed up global oil prices in 2022 and 2023. At the end of day on Thursday, Brent crude oil, the global benchmark, was about $107 a barrel while US crude hit $93 a barrel. Average US gas prices at the pump reached $3.98 a gallon, according to AAA.

    US stocks fall on prospect of prolonged Middle East war

    The Nasdaq Composite fell more than 1 per cent in morning trade in New York, keeping the tech-heavy index in correction territory – more than 10 per cent from its late October high.

    Markets are “moving from the ‘inflation concern’ phase of the crisis into recession concern phase”, 3Fourteen Research’s Warren Pies said on X.

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    Stocks, bonds and gold all fall in market slide

    The war in Iran and the spike in energy prices have rattled global markets, impacting not just stocks but also safe havens like bonds, gold and currencies. That’s leaving investors with fewer places to hide.

    The Dow, S&P 500 and Nasdaq are each set for their worst month in a year. When stocks hit a rough patch, or economic uncertainty abounds, safe haven assets like gold or government bonds can provide investors with some protection. But they’ve both dropped alongside stocks this month, serving little value as a hedge against the turmoil.

    US stocks closed lower Thursday: The Dow fell 469 points, or 1.01%. The S&P 500 fell 1.74% and had its worst day in two months. The Nasdaq sank 2.38% and closed in correction, down more than 10% from its peak in late October.

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  • Markets live updates: Global stock sell-off hits ASX, trade halted in Korea as market plunges | A…

    Markets live updates: Global stock sell-off hits ASX, trade halted in Korea as market plunges | A…

    Explore the latest developments concerning Markets live updates:.

    Markets live updates: Global stock sell-off hits ASX, trade halted in Korea as market plunges

    Investor fears of a drawn-out Middle East war, surging oil prices and potentially higher inflation are hitting Australian shares, with the ASX down 2 per cent, after stronger-than-expected economic growth fuels rate hike speculation.

    Earlier, Wall Street managed to claw back most of its losses after Donald Trump said the US would protect oil tankers in the Strait of Hormuz.

    Gold's sell-off this week is a reminder to investors that, even with rising demand for safe havens, the ultimate safe-haven asset isn't immune if market forces work against it, says Josh Gilbert, a market analyst at eToro.

    "The most immediate pressure is coming from a repricing of interest rate expectations.

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    The dynamic landscape of current events often brings forth significant discussions. Monitoring these developments provides crucial insights.

    For more detailed information, explore updates concerning Markets live updates:.

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