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ASX slips as COVID cases rise, US stimulus stalls


ASX slips as COVID cases rise, US stimulus stalls
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The Australian sharemarket wiped out most of its gains on Wednesday from the previous session, as a spike in the number of new COVID-19 cases in New South Wales and the stalling of further stimulus in the US dented investor sentiment.
The S&P/ASX 200 Index fell 17.9 points, or 0.3 per cent, to 6,682.4, rallying from a 1 per cent fall earlier in the session.
Senate Majority Leader Mitch McConnell. 
Bloomberg
The market slid heavily at the open after US Senate majority leader Mitch McConnell defeated a bid by Democrats to vote on topping up stimulus cheques as part of an agreed fiscal bill. ....

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'The best, the worst, and most extreme': The ASX winners and losers in a year like no other


The best, the worst, and most extreme : The ASX winners and losers in a year like no other
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The sharemarket is no sure bet at the best of times but few investors could have predicted the twists of 2020 or the winners and losers along the way.
“A lot of people have talked about it being the best, the worst and most extreme,” says Tribeca portfolio manager Jun Bei Liu. “I saw the GFC and I haven’t seen volatility like this.”
From all-time highs to record lows and a nine-month march almost back to where it began, it was a year of extremes for ASX traders who battled an unprecedented set of conditions. ....

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ASX ends in red as investors look beyond US stimulus, vaccines


ASX ends in red as investors look beyond US stimulus, vaccines
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The Australian sharemarket has closed out the last full session of the year in the red as local investors cooled their heels, mulling the next twist in the passage of the US stimulus bill and keeping an eye on the escalating COVID cases in NSW.
The benchmark S&P/ASX 200 index ended the trading day 17.9 points, or 0.3 per cent, weaker to close at 6682.4. The index had slipped almost 1 per cent during the session but was able to pull itself back a touch in the final hour of trade. ....

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What the retail bounce means for 2021


What the retail bounce means for 2021
Analysts say boosted spending ahead of Christmas is likely to continue into the new year. 
Simon Letch
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Packed shopping malls and bumper consumer spending seem unbelievable in the context of the worst pandemic in 100 years. But boosted savings from working at home, government assistance and reduced travel have primed households to splurge at Christmas.
The question for investors is whether this boost for retail stocks will continue in 2021. The impact of this week’s COVID-19 outbreaks is just one of many risks, although some view these as a minor handbrake. Far from the consumer confidence nadir of April, the ANZ-Roy Morgan consumer confidence survey is now reporting stronger results than this time last year. ....

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Santa's Winter Village event in Adelaide likened to the Fyre Festival has been CANCELLED


A Santa s Village attraction at a shopping centre has been shut down after furious families demanded refunds due to the dismal state of the Christmas installation.
Families vented outrage after forking out $132 for a group ticket, or $38.50 for individuals, to the Santa s Village at Colonnades Shopping Centre in southern Adelaide.
The fallout was so extreme that the landlord for Colonnades owner Vicinity Centres ordered the venue be shut down on Thursday and refunds issued to attendees.
Organisers promoted the event as a truly unique white Christmas to remember featuring a train ride, ice skating and photos with Santa.
Instead those who bought tickets were met with a sparse array of amateurish installations scattered around the concrete floor of a vast warehouse, such as a maze made of crowd barriers covered in tinsel, and a polar train which was made of flimsy carriages pulled by a mobility scooter.    ....

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