ADVANCED SHARE REGISTRY The Dow Jones Industrial Average climbed Friday as strong earnings results from some of the biggest banks and companies kicked off earnings season. On a weekly basis, the Dow notched its best performance since March, up 2.3 per cent. The S&P 500 added 2.4 per cent, and the Nasdaq gained 3.3 per cent.
UnitedHealth shares lifted the blue-chip index Friday as its top performer. The insurance giant jumped more than 7 per cent after it reported better-than-expected adjusted earnings and revenue. The company also raised the lower end of its full-year adjusted earnings guidance. UnitedHealth was also the biggest gainer in the S&P 500's health-care sector, which advanced 1.5 per cent.
JPMorgan Chase rose 0.6 per cent after its second-quarter earnings topped expectations. The bank was boosted by higher interest rates and rising interest income. Wells Fargo inched down 0.3 per cent, even though the bank posted better-than-expected results.
Investors' sentiment has been lifted by soft inflation reports this week. The latest producer price index report showed inflation rose less than anticipated and built on trader optimism from the June consumer price index data, which came out Wednesday. Investors are now considering whether a strong economy illustrated by the recent data could push stocks higher by the end of the year.
In commodity-related news, miners in Chile are pushing for faster permits and lower energy costs after mining tax reforms, while the US dollar experienced its biggest weekly drop since November as traders reduced their bets on further interest rate hikes, with the currency index falling 2.2 per cent over the past five sessions due to cooling inflation and declining dollar long positions.
| Dow Jones | 34,509.03 | +113.89 | +0.33% |
|---|---|---|---|
| US S&P 500 | 4,505.42 | -4.62 | -0.1% |
| US Nasdaq | 14,113.70 | -24.87 | -0.18% |
| UK FTSE 100 | 7,434.57 | -5.64 | -0.08% |
RECENT INDIAN OCEAN SECURITIES TRANSACTIONS
| Balkan Mining Minerals Limited (ASX:BMM) | Mining Exploration Sector | IPO at $0.20 | Price Change from IPO Investment: + $0.175 / 85.50% |
|---|---|---|---|
| Smart Auto Australia Limited (NSX:SAL) | Electric Commercial Vehicles Sector | IPO at $0.10 | Price Change from IPO Investment: + $0.10 / 100% |
| Azure Health Technology Limited (NSX:VTL) | Health Technology | IPO at $0.20 | Price Change from latest Investment entry: - 0.05 / 25% |
| Albion Resources Limited (ASX:ALB) | Diversified Metals & Mining | IPO at $0.20 | Price Change from latest Investment entry: - $0.015 / 7.5% |
| Sprintex Limited (ASX:SIX) | Auto Parts & Equipment | IPO at $0.086 | Price Change from latest Investment entry: - $0.013 / 15.12% |
| Jadar Resources Limited (ASX:JDR) | Diversified Metals & Mining | Private Placement at $0.03 | Price Change from latest Investment entry : - $0.007 / 23.33% |
| Krakatoa Resources Limited (ASX:KTA/KTAOC) | Gold Sector | Private Placement at $0.06 | Price Change from latest Investment entry : - $0.008 / 13.33% |
| PYX Resources Limited (NSX:PYX) | Diversified Metals & Mining | IPO at $0.40 | Price Change from latest Investment entry: + $0.76 / 190% |
| Cokal Limited (ASX:CKA) | Steel Sector | Funding at $0.04 | Price Change from latest Investment entry: + $0.036 / 90% |
| Cyclone Metals Limited (ASX:CLE) | Steel Sector | Placement: at $0.0017 | Price Change from latest Investment entry: + $0.0073 / 429.41% |
| Food Revolution Limited (ASX:FOD) | Packaged Foods & Meat | Placement at $0.035 | Price Change from latest Investment entry : - $0.0007 / 20% |
| Synertec Corporation Limited (ASX:SOP) | Technology Sector | Placement at $0.023 | Price Change from latest Investment entry: + $0.077 / 334.78% |
| Douugh Limited (ASX:DOU) | Wireless Telecommunications Services | Placement at $0.020 | Price Change from latest Investment entry: + $0.074 / 370% |
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The information provided was based on information available at the time of publishing. We believe that the information in this report 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 Advanced Share registry (ABN 14 127 175 946) nor any of its subsidiaries accept liability to any person for loss or damage arising from the use of this report. The report has been prepared without taking account of the objectives, financial 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 situation and needs and, if necessary, seek appropriate professional advice. This report does not purport to be a complete statement or summary.
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Advanced Share Registry Limited published this content on 17 July 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 July 2023 07:28:25 UTC.
