The Federal Reserve cut interest rates by 25 basis points overnight, but halved the number of rate cuts expected for next year as the battle to bring inflation down toward the central bank’s target is now expected to take longer than previously expected.
This month’s investment committee meeting revealed a market environment that can best be described as “quietly optimistic.” Inflation is settling into central bank target ranges, employment remains strong, and consumer spending is holding up—surprisingly so in both the U.S. and Australia. Yet, behind the scenes, everyone is preparing for possible shifts in 2024.
The ASX closed 0.6% lower on Monday, down 46.5 points to 8249.5, marking its fifth consecutive day of declines.
Bitcoin surpassed $100,000, reaching $103,649, fueled by optimism over U.S. President-elect Donald Trump’s pro-crypto policies.
The Index Plus Portfolio is constructed to outperform the ASX 200 benchmark by 3-4% annually. By balancing stable market exposure with tactical allocations in high-growth and thematic sectors, the portfolio aims to deliver enhanced returns without taking on excessive risk.
The S&P/ASX 200 Index hit a record high, rising 0.7% to 8466.7, led by strength in banking and healthcare stocks.
The Australian sharemarket retreated on November 26, 2024, with the S&P/ASX 200 Index falling 0.4% to 8485 points, pulled back from Monday’s record close.
Weebit Nano Limited is currently exhibiting a strong upward trend, with its stock price experiencing significant gains following a recent capital raise.
Technically, the stock is showing signs of strength, suggesting a potential uptrend or breakout may be forming. This technical strength, combined with the fundamental financial improvements, provides a compelling case for investors. Additionally, after falling 45% in 8 months, the stock is now trading at its lowest revenue multiple in some time. This valuation, coupled with the company’s strong position in the growing network-as-a-service market, presents a favorable risk-reward profile for potential buyers.
A wrap of the week in markets from the boys at MPC Markets.
We cover stocks, politics, opportunities on the ASX and geopolitics
Mineral Resources (MinRes) has agreed to sell its oil and gas assets in the Perth Basin to Gina Rinehart’s Hancock Prospecting in a $1.1 billion deal.
The Australian sharemarket tumbled on Tuesday, with the S&P/ASX 200 Index falling 1.4%, or 226.4 points, to 8228 by midday, following a sell-off across all sectors.