Expert buy, hold and sell recommendations from our team of analysts.
This week, Wall Street took the focus off the unreasonable demands of the Iranian leadership in the Strait of Hormuz unless there is compensation for the damage done to their homeland.
The see-saw-like moves for US stocks have been sustained with companies being smashed one day, only being bought the next day. And the ups and downs have been showing up in more than just share prices.
A once-derided rogue state is doing what Washington and Tehran can't manage on their own: talking peace. Wall Street, not just the Middle East, is watching closely.
Markets have been fighting two wars this week: one in the Middle East and the other between AI bulls and bears on Wall Street. Reporting season might just settle which one matters more.
Bloomberg editor John Authers looked at this week’s big market-moving story, the resumption of hostilities between Iran and Donald Trump over the Strait of Hormuz and renamed the ceasefire MOU and called it a MOM – that is, a “Memorandum of Misunderstanding”!
Looking at this week's market revelations I'm thinking about an R-word. However, it's not for the negative vibe that is a recession but a more positive development, namely rotation.
Markets should have celebrated peace, but a rotation out of big tech into defensives has Peter Switzer asking whether headwinds now outnumber tailwinds. The S&P/ASX 200 fell 0.73% for the week to 8,764 on profit warnings and softer iron ore, copper and gold prices, while a better-than-expected US PCE inflation read eased the pressure for higher rates.
Wall Street finished a holiday-shortened week on a high as the Iran peace deal removed an oil-price headwind. Peter Switzer counts five tailwinds versus two headwinds and stays cautiously positive, even as the S&P/ASX 200 slipped on Friday on BHP's potash cost blow-out.
The S&P/ASX 200 jumped 2.07% for the week to 8,804 — the best one-day gain since April — on Trump peace-deal hopes and signs the RBA may have stopped rate rises. US markets were mixed with the NASDAQ off 0.30% and the S&P 500 down 0.04% on the week, despite Friday gains driven by SpaceX's blockbuster IPO debut.
Wall Street's nine-week winning streak ended on a Broadcom-led tech sell-off, with the NASDAQ down 4.18% and the S&P 500 down 2.64% on the week. The S&P/ASX 200 finished down 1.22% as investors rotated into healthcare.
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