The ASX 200 (ASX:XJO) managed to hold onto a small gain on Wednesday, adding 3.5 points despite dropping 1% at the open. CSL Ltd (ASX:CSL) almost singlehandedly floated the market, with its 2.6% rally adding 10 points to the ASX 200 alone.
The ASX 200 (ASX:XJO) delivered a sixth straight day of gains, taking the run to over 6%, as it finished up 2.4% on Tuesday following the public holiday in Victoria.
The ASX 200 finished a sixth straight week in positive territory, adding 4.2%, but gaining just 0.1% on Friday.
The S&P 500 broke three straight days of gains, falling 0.2% as investors seemingly became exhausted from an extended rally. This despite unemployment benefits slowing and announced recoveries in domestic flights.
The Australian economy is now experiencing its first recession in close to 30 years. The initial impact of the COVID-19 outbreak sent domestic GDP down -0.3% in the March quarter, with experts predicting a contraction of as much as -8.4% in June.
Global sharemarkets continued their incredible rally even as protests and riots continued in the US, following President Trump’s call to bring in the military.
Despite widespread geopolitical and societal tension, be it from US protests or the threat of a renewed trade war with China, the market seem to keep powering through exhibiting the disconnect between Wall Street and Main Street.
This week we take a look at the often misunderstood, bulk retailing business Costco (NASDAQ:COST). Similarly to Woolworth’s (ASX:WOW) the company has performed reasonably well throughout the COVID-19 shutdowns benefitting from hoarding and its business model of offering incredibly low…
With markets waiting with baited breath for President Trump’s speech on his policy towards China. The ASX 200 (ASX:XJO) fell heavily in the afternoon to finish down 1.6% for the day.