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    Sharemarket

    Today

    The ASX 200 is set to open lower.

    ASX flat, CSL on course for biggest drop this year

    Shares steady; immunoglobulins unit boosts CSL earnings; Seek hit by job ads fall; Orora knocks back Lone Star’s bid; NBN losses deepen. Follow updates here.

    • 11 mins ago
    • Andrew Hobbs, Sarah Jones, Cecile Lefort, Joshua Peach, Tom Richardson and Joanne Tran
    Wall Street is struggling for direction before this week’s inflation data.

    ASX to rise; Wall Street awaits inflation data

    Wall Street struggled for direction before key US inflation data as the return of geopolitical risk put a rocket under oil and gas prices.

    • Updated
    • Andrew Hobbs
    Ted O’Brien and Sally Sitou have emerged as the best stockpickers in parliament.

    Meet Canberra’s best and worst stockpickers (one got returns of 64pc)

    From investments in lithium to Fortescue, disclosures made by parliamentarians give at least a glimpse of whose portfolios are up – and whose are down.

    • Joshua Peach

    Yesterday

    Guzman y Gomez successfully floated on the ASX in June. Now, is heading toward the ASX200.

    Guzman y Gomez in ‘striking distance’ of joining ASX 200

    The Mexican fast-food chain has a good shot at joining the major benchmark next month, potentially attracting millions in new investment.

    • Sarah Jones
    Local shares are set to open higher, as reporting season gathers momentum.

    ASX climbs as consumer stocks rally; Beach sinks 13pc

    Shares advance; JB Hi-Fi flags special dividend; Aurizon announces $150 million buyback; Beach Energy plunges into loss; CAR Group revenue jumps. Follow here for more.

    • Timothy Moore, Joanne Tran, Cecile Lefort, Alex Gluyas and Sarah Jones
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    George Boubouras is urging states to restrain debt funding plans.

    Why this fundie is betting big on Macquarie Group

    K2’s George Boubouras is not worried about the recent market turmoil or the US economy, instead he’s betting on mid-caps and Australia’s biggest investment bank.

    • Cecile Lefort

    This Month

    Ian Patrick managed a $10 billion switch into risky exposures.

    This $300b super fund is making a monster move to stocks

    Australian Retirement Trust has decided that a big chunk of its members will do a lot better with their pension nest egg invested in riskier assets.

    • Jonathan Shapiro
    Earnings season will begin to give investors and economists a glimpse into the health of consumers and corporate profits.

    ASX to rise as earning season sheds light on health of economy

    Traders will also look at unemployment figures to be released this week as an indicator of whether the Reserve Bank is preparing to cut – or raise – rates.

    • Cecile Lefort
    A trader works on the floor of the New York Stock Exchange.

    Market gyrations reflect fears about the unwinding of QE

    Bountiful free money is not a “normal” state of affairs, and the sooner investors realise this the better. And that includes central bankers.

    • Gillian Tett
    Volatility is the new black in equities markets.

    Time to panic or the correction we had to have?

    Investors’ hope for a Goldilocks scenario all came unstuck last week. But rather than succumb to hysteria, it’s better to recalibrate risk appetite.

    • Stephen Miller
    Traders work on the floor of the New York Stock Exchange. A brutal sell-off earlier in the week gave way to a relief rally on Wall Street.

    It’s been a brutal week on the sharemarket. Now come the aftershocks

    Strategists have warned that Friday’s relief rally could be short-lived, despite better-than-expected jobs data in the US soothing some economic anxieties.

    • Alex Gluyas
    Local shares are set to open higher, after weekly jobless claims sparked a broad advance on Wall Street.

    ASX rallies, but drops 2pc on the week

    Shares rally; Whitehaven Coal given legal nod for Narrabri; NewsCorp to sell Foxtel; QBE posts $1.2b profit; Life360 ups guidance; Nick Scali profit slides. Follow updates here.

    • Updated
    • Timothy Moore, Cecile Lefort, Joanne Tran and Alex Gluyas
    On Wall Street, all three major benchmarks rose at least 2.5 per cent.

    Why this week’s market drama may be only halfway done

    A week of immense panic on global markets has ended with an uneasy calm and big questions about what comes next.

    • James Thomson
    James Tsinidis.

    Here’s how this climate fund smashed the market

    Munro Partners portfolio manager James Tsinidis talks about the power crunch in the US, how Nvidia can double its earnings and names a small cap that he thinks is too cheap.

    • Joanne Tran
    The ASX 200 is set to open lower.

    ASX falls as miners weigh; AMP shares soar 13pc

    Shares lower at the closing bell; AMP’s profit rises; former Qantas boss Alan Joyce to lose more than $9 million in bonuses; Myer warns on profit; iron ore falls below $US100. Follow updates here.

    • Timothy Moore, Joanne Tran, Joshua Peach, Cecile Lefort and Alex Gluyas
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    Investors expect volatility from the sharemarket rout to continue in the near term.

    Investors warn global rout may have not gone ‘far enough’

    Goldman Sachs, JPMorgan Asset Management and Capitol Group warn that volatility in the market is likely to persist after Monday’s brutal sell-off.

    • Joanne Tran
    The bond market is sticking with its rate cut forecasts for 2024, despite what governor Michele Bullock says.

    Why the market doesn’t believe the RBA on rates

    Despite the surprisingly strong hawkish rhetoric from the Reserve Bank this week, bond traders (and some economists) aren’t buying it.

    • Updated
    • Cecile Lefort and Sarah Jones

    ASX lifts as GPT shines, Rio slumps

    Shares reverse early losses; Wall Street firms amid persisting volatility; shares in retailers and property lose steam; lower iron ore prices hit miners. Follow updates here.

    • Updated
    • Timothy Moore, Cecile Lefort, Joanne Tran, Joshua Peach and Sarah Jones
    Panic spread across Wall Street before the opening bell on Monday night.

    Hedge funds were busy buying the dip amid turmoil

    As trillions of dollars were being erased from global equity markets on Monday as investors fled, some fast money was stepping back in.

    • Natalia Kniazhevich
    The ASX 200 is set to open lower as volatility persists.

    ASX rebounds after global rout; Woodside shares tumble

    Shares advance at the closing bell; US futures bounce back; Treasury Wine flags impairment; Coronado revenue slumps 10 per cent; Bullock says rate cut not on the agenda in 2024. Follow updates here.

    • Updated
    • Timothy Moore, Joanne Tran, Joshua Peach, Cecile Lefort and Sarah Jones