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Facebook ‘unfriends’ Australia – Money Mate

andrew| Feb 20,2021

Facebook ‘unfriends’ Australia Google played by the rules while Facebook spat the dummy and COVID vaccines arrived down under in the Grafa week that was. The ASX closed 1.34% lower on Friday but remains virtually unchanged this week. The looming introduction of Australia’s news media code resulted in starkly different responses from global tech giants…

COVID, CARS & KFC – Money Mate

andrew| Feb 15,2021

COVID, CARS & KFC COVID lockdowns, the European economy and Aussie jobs are all in the frame in the Grafa week ahead. Victoria’s snap five-day lockdown is set to end midnight Wednesday, with any extension dependent on how quickly authorities can contain the COVID-19 cluster. Friday’s ASX session saw investors pouring into pandemic-winning stocks like…

No dice for Crown’s Barangaroo casino – Money Mate

andrew| Feb 15,2021

No dice for Crown’s Barangaroo casino Tesla and BNY Mellon backed Bitcoin, Crown Resorts was in hot water and Redditors turned to weed stocks in a jam-packed week for finance. The ASX lost 0.49% over the trading week as tech and mining stocks weighed on the market. It’s no dice for Crown Resorts’ new Barangaroo…

All the way with USA? – Money Mate

andrew| Feb 08,2021

All the way with USA? If the US sneezes, Australia can catch a cold, so all eyes will be on the US economy this week as President Joe Biden’s US$1.9 trillion stimulus package looks set to clear its final hurdles. The US Senate voted last week to approve a budget reconciliation process that could allow…

Game over for GameStop – Money Mate

andrew| Feb 06,2021

Game over for GameStop It’s game over for GameStop, while silver picks up the slackers and Wall Street plots its revenge. The ASX closed at an 11-month high on Friday, gaining 3.53% for the week, as the market continued to ponder the effects of the GameStop phenomenon. The online games retailer plummeted 86% over the…

Reigning in Reddit – Money Mate

andrew| Feb 01,2021

Reigning in Reddit Reigning in Reddit, the RBA rates decision and trade and retail figures are all in the spotlight this week. With a buy on short-sell stocks last week, triggered by so-called Reddit day traders driving up the price of GameStop, US lawmakers will be looking at social media-driven share trading. Locally, mortgage holders…

GameStop’s Aussie doppelganger – Money Mate

andrew| Jan 29,2021

GameStop’s Aussie doppelganger GameStop triggered a buying frenzy on Wall Street, the ASX slumped 2.84% and techs soared on several capital raises in a big week for finance markets. With a tweet of “GameStonk”, Elon Musk set off a buying frenzy on GameStop that saw its shares surge more than 1700%, with several other short-sell…

Show me the money! – Money Mate

andrew| Jan 25,2021

Show me the money! US President Joe Biden’s big stimulus plans, Bitcoin’s price, UK jobs and Australia’s inflation are all in the spotlight this week. The Aussie sharemarket will be watching Wall Street closely for its reaction to how the Senate treats Biden’s US$1.9 trillion stimulus package, with Republicans already pushing back. Meanwhile, Bitcoin’s fall…

A tale of two Joes – Money Mate

andrew| Jan 22,2021

A tale of two Joes Joe Biden tapped in, Joe Exotic missed out, Netflix surged and the price of Bitcoin plummeted. Newly-sworn in President Biden prompted a market rally on Wall Street, which helped the ASX jump 1.27% this week. Not so great for the other Joe – Joe Exotic that is – who missed…