Investors closely monitored efforts in Washington to negotiate a new virus relief package. Brent crude oil prices rose to the highest level since March 6, supporting shares of Exxon Mobil (+2.9%) and Chevron (+2%). American International Group shares tumbled 7.5% after posting a US$7.9 billion loss. Ralph Lauren shares dropped 4.4% after quarterly revenue plunged due to a slowdown in global demand for luxury goods. Shares of Microsoft -which is looking to buy short-video app TikTok's US operations -fell 1.5%. Netflix shares gained 2.2%. The Dow Jones index rose by 164 points or 0.6%. The S&P500 index lifted 0.4% and the Nasdaq index lifted 38 points or 0.4% to a record close.
This report is approved and distributed in Australia by Commonwealth Securities Limited ABN 60 067 254 399, AFSL 238814 (CommSec) a wholly owned but non-guaranteed subsidiary of Commonwealth Bank of Australia ABN 48 123 123 124, AFSL 234945 (the Bank). The Bank and its subsidiaries have effected or may effect transactions for their own account in any investments or related investments referred to in this report. This report is not a recommendation to buy, sell or hold any securities or financial products, and has been prepared without taking account of the objectives, financial or taxation situation or needs of any particular individual. For this reason, any individual should, before acting on the information in this report, consider the appropriateness of the information, having regard to the individual's objectives, financial or taxation situation and needs and, if necessary, seek appropriate professional advice. This report is produced by Commonwealth Research based on information available at the time of publishing. We believe that the information in this correspondence is correct and any opinions, conclusions or recommendations are reasonably held or made as at the time of its compilation, but no warranty is made as to accuracy, reliability or completeness. To the extent permitted by law, neither the Bank nor any of its subsidiaries accept liability to any person for loss or damage arising from the use of this report.
Market Close 27 Feb 23: ASX 200 sinks to fresh 6-week low
Pilbara’s Half Year Result 27 Feb 23: Lithium miner’s inaugural dividend
The CommSec Market Update 27 Feb 23: Wall Street posts biggest weekly drop in 2023 after hot inflation report
The CommSec Market Update 24 Feb 23: ASX 200 eyes a flat start following a choppy session on Wall Street
Market Close 23 Feb 23: ASX 200 slipped for a 3rd day
CommSec Insights 23 Feb 23: The Week Ahead
Rio Tinto Full Year 2002 Result 22 Feb 2023
The CommSec Market Update 23 Feb 23: US stocks under pressure as Fed signals more work required on containing inflation
Market Close 22 Feb 23: ASX 200 bounces off 6-week low
The CommSec Market Update 22 Feb 23: US shares slump 2% on fears of higher interest rates
Market Close 21 Feb 23: ASX 200 hits 5 ½ week low
BHP Half Year Result 21 Feb 23: Lower iron ore and copper prices drive dividend lower
Executive Series 13 Feb 2023: Transurban Group (TCL) CEO, Scott Charlton
The CommSec Market Update 21 Feb 23: Markets struggle for direction with Wall Street closed for a long weekend
Market Close 20 Feb 23: Cautious start to the week for ASX 200
The CommSec Market Update 20 Feb 23: Wall Street mixed on Friday as investors fret about interest rate hikes
Market Close 17 Feb 23: ASX 200 slumped by 1.2% this week
Telstra’s Half Year Result 17 Feb 23
Whitehaven Coal’s Half Year Result 16 Feb 23: Record profits but dividend disappoint
The CommSec Market Update 17 Feb 23: US stocks recover from steep losses following hot inflation figures
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