As economists around the globe race to cut their US and global growth forecasts, the Australian market is copping the fallout. Wall Street was closed last night. (Available for non-subscribers after 10am)
A week after the Walmart-Target debacle, last night's US retailer earnings results helped further fuel the latest Wall Street bounce. Dow up 516. (Available for non-subscribers after 10am)
Macquarie estimates that BHP is trading on a 2023 free cashflow yield of 13 per cent on the broker’s own commodity price assumptions, or 19 per cent under a spot price scenario.
Hopes of peaking US inflation were somewhat dashed on last night's PPI result, but Wall Street is keen to rally again whatever the case. Dow up 344. (Available for non-subscribers after 10am)