Those July all-time highs are much closer now after Federal Reserve Chair Jay Powell elevated the concept of a rate cut from a hypothesis to a near certainty at the central bank’s September meeting.
In anticipation of the next decline, Wall Street ended the week strong and is expected to continue its momentum this week. The worries and dire warnings about the sell-offs earlier this month (driven by the problems in the United States but also by events in Japan) seem to have been forgotten.
The Dow Jones rose 462. 30 points, or 1. 14%, to 41,175. 08. The Nasdaq rose 1. 47%, ending the week at 17,877. 79, and the S.
Friday’s gains helped the three most sensible averages have a winning week. The Dow Jones jumped about 1. 3%, the Nasdaq jumped 1. 4%, and the S
“The time has come to tighten policy,” Powell said at the Federal Reserve’s annual convention in Jackson Hole. “The direction forward is clear, and the timing and speed of rate cuts will depend on incoming data, evolving outlooks, and the balance of risks. “
Tech stocks rallied particularly strongly as investors began to expect that a lower rate environment would benefit the sector. Tesla and Nvidia rose more than 4%.
For the ASX, the futures platform is trading 41 numbers higher in early trading, which will more than offset Friday’s first bearish inquiry in the last ten days. The strong performance of European and US markets on Friday, following Powell’s comments, is likely to influence markets across Asia, starting with New Zealand, Australia and Japan.
The European STOXX six hundred index rose 0. 46% on Friday and 1. 3% on the week. Tokyo’s Nikkei rose 0. 4% on Friday and 0. 8% for the week, and futures point to a gain made this morning. In Australia, the ASX two hundred fell 3. 1 numbers to 8,023. 9, but is still up 0. 7% on the week.
ANZ shares fell 2. 2% after banking regulator APRA announced that the bank would have to keep another $250 million in capital in reserve for its risk-weighted assets. This brings the total amount of consequences to $750 million. monitor ANZ to see if there are any adjustments in the board of directors or in management, as the regulator is obviously not satisfied with the bank.
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Deep Leads Resource Increases Across the Board: Quality, Tonnage and Target Zone ABx Group has reported a 30% increase in its mineral resource estimate (MRE) at the rare ion adsorption clay earth deposit ( IAC) from Deep Leads in northern Tasmania. The accumulation at MRE comes from 36 assayed exit wells, representing a significant northward extension to the existing Deep Leads prospect.
Lake Resources (LKE. ASX) – LKE has signed two non-binding memorandums of understanding within 10 days. Ford Company (Ford) has signed a memorandum of understanding for about 25,000 t/year and last week, Hanwa, a Japanese commodity trader, signed a memorandum of understanding for up to 25,000 t/yr. Subject to execution, this is a feat as Ford and Hanwa are poised to collaborate on long-term strategic partnerships with LKE. Commercial negotiations are still ongoing but should, namely whether Ford and Hanwa will inject new capital into LKE, removing additional risks in financing the task and thus ensuring that LKE and Kachi are fully funded.
Two recent gravity studies have particularly exceeded expectations and revealed prospects for extension of the existing MRE at Throssell Lake, as well as a significant expansion opportunity at Yeo Lake. This reinforces the prospect of a multi-decade SOP Tier 1 production center around Lake Throssell.
Lately, TMG is completing paints in preparation for the PFS planned for early 2023, adding the start of drilling in the third quarter of 2022, evaporation testing and authorization activities. The effects of these systems will affect the PFS and any long-term resource improvements.
The SOP reference values have increased to approximately $940/t due to recent geopolitical events. The October 2021 scoping study assumed an SOP value of $550/t and contained a sensitivity study showing that every 10% increased value effects in a $144 million NPV increase in the $364 million task NPV. The increase of approximately 70% compared to the scoping study implies a NPV allocation of approximately $1. 4 billion.
Despite the fall in oil and fuel prices, which fell 5. 4% and 19. 7% respectively in August, Calima managed to show an improvement in its main indicators.
WT Financial Group Limited (WTL) is a diversified money company in development, founded in 2010 and indexed to the Australia Securities Exchange (ASX) in 2015. Their recommendations and product offerings are primarily provided through an organization of independent money advisors who act as legal representatives. of WTL under its broker organization businesses Wealth Today Pty Ltd (Wealth Today) and Sentry Group Pty Ltd (Sentry Group). He has approximately 275 advisers at over two hundred money advisory firms across Australia. It also operates a direct-to-consumer operation under its Spring Financial Group brand.
In May 2021, Corporate Connect analyst Marc Sinatra published a full study report on ASX-listed biotech Immutep Ltd (ASX: IMM). He was so inspired by IMM that Corporate Connect found it imperative to publish a follow-up report that valued the company, as the market did not see the great prospects of eftilagimod alfa (efti).
This follow-up report is published today. Using comparables, after adding a monetary rebate to its EV estimate and dividing by the total number of percentages issued, Corporate Connect now puts the fair price of a percentage of Immutep at AU$2. 20.