News

Global markets were mixed overnight as US equities softened, with the major news-flow coming from a number of American banks reporting quarterly results.

US​​ earnings season ​gets into full swing this week, and company announcements ​will come under scrutiny because of the slowing Chinese growth, with a particular emphasis on what impact companies anticipate from the US-China trade tensions.​

​In this week’s stock market movers podcast, the episode dominated by AWF Madison, but also talk about Michael Hill and Paysauce.

Powell’s testimony to Congress ​overnight ​was interpreted as hinting that an insurance interest rate cut is near​, as he ​said the central bank stands ready to “act as appropriate” to support​ ​US economic growth.

Shares in Aussie Tech darling Afterpay have been volatile of late, following a press release from Visa highlighting the payments giant will begin testing its own payment instalments technology.

​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​Global markets were lower overnight to start the week, as US investors toned down expectations of an aggressive interest rate cut by the Federal Reserve later this month.

​For the week ahead, the focus ​will be on quarterly US Corporate earnings season which kicks off this week.

Global markets ​were ​quiet overnight given the US market independence day holiday. 

The price of gold has rallied strongly this year, and is at 6-year highs.