4 Nov 19 - Week Ahead | Macquarie Update
Investor sentiment was buoyed by renewed hope for a trade truce between the US and China.
Investor sentiment was buoyed by renewed hope for a trade truce between the US and China.
ANZ shares took a hit yesterday on the back of weaker than expected full year earnings.
The big news was from the US Federal Reserve, which cut interest rates for the third time this year in a move to ensure the US economy weathers a global trade war without slipping into a recession, but signalled its rate-cut cycle might be at a pause.
All eyes are on the US Federal Reserve, which began its two-day meeting and is set to make an interest rate announcement tomorrow morning.
On the economic growth front, there will be important US economic data published at the end of the week.
Microsoft jumped after earnings beat expectation, and Tesla soared 16% after posting a surprise profit.
The electricity generator-retailers all fell sharply yesterday after Rio Tinto, which controls New Zealand Aluminium Smelters, said it was reviewing the Tiwai Point smelter's future after rejecting Meridian's proposed pricing
Recent trends have indicated that consumer spend remains weak across Australasia, with consumers opting to save rather than spend.
While it is still early, so far company earnings announcements overseas have generally beaten a low bar.
Global markets were higher overnight, as shares on Wall Street rose on the back of strong earnings from Netflix and Morgan Stanley, with the prospect of Britain making a last-minute deal with the European Union adding to the upbeat mood.