Market Reports

• Australian Market Report: The Australian sharemarket ended its session on Tuesday with a small loss, having recovered from a sharp sell-off in early trade. The S&P/ASX 200 closed 20.9 points, or 0.2%, lower at 8604.20, having fallen as much as 1.6%.... [more]

• U.S. Market Report: The S&P 500 and ​the Nasdaq fell to over one-month lows on Tuesday, as technology stocks lost momentum, with investors turning ‌cautious ahead of inflation data and a highly anticipated SpaceX IPO later this week..... [more]

• European Market Report: Despite spending much of the day's trading session in positive territory, most of the major markets in Europe closed on a weak note on Tuesday due to a sell-off in the final hour..... [more]

• Asian Market Report: Asian stocks advanced on Tuesday as geopolitical tensions eased and tech stocks rebounded on dip buying. Risk appetite improved, the dollar weakened slightly and oil prices came off recent highs.... [more]

Australian Business News

• NAB, Commonwealth Bank predict interest rate relief but mortgage holders face long wait.... [more]

• Millions of Australians are failing to lodge the right paperwork with their superannuation fund, which is having massive consequences for their loved ones. In a grim update, the Australian Securities and Investments Commission (ASIC).... [more]

• Australia’s housing market has become so overheated that it is now attracting the attention of some of the biggest names on Wall Street. After decades where property seemed to move in only one direction, the message from some.... [more]

• Self-managed super funds(SMSFs) with advisers took profits in major mining and energy stocks in May, according to trading data from AUSIEX, while increasing exposure to banks, healthcare and exchange-traded funds..... [more]

• Australian investors are lining up to jump aboard one of the world’s hottest initial public offerings, the launch of Elon Musk’s SpaceX. The spaceflight and artificial intelligence company will go public on the US Nasdaq exchange.... [more]

• Where do you go when everything is expensive?Experts weigh in on why you need to diversify differently now. For much of the last decade, investing has felt relatively straightforward..... [more]

• SpaceX is pricing at US$1.77 trillion on 11 June. For Australian investors, the more compelling opportunity may be closer to home..... [more]

• Gold's third-longest streak in 50 years just ended. Here's what comes next.... [more]

• Olympio Metals has kicked off phase three diamond drilling program at its Bousquet gold project in Quebec, Canada, as it seeks to determine whether a bonanza-grade hit from March is the first step towards a much larger gold system..... [more]

• American West Metals may have just thrown open the growth doors at its 100 per cent-owned West Desert project in Utah, 160km southwest of Salt Lake City, after drilling confirmed a new critical minerals corridor .... [more]

• Thor Energy lifted by hydrogen project update.... [more]

• Southern Hemisphere Mining has logged 175m of visible copper sulphides from 84m to 256m in a diamond tail beneath an earlier reverse circulation hole at its 100 per cent-owned Llahuin copper-gold-molybdenum project.... [more]

• Lynas Rare Earths Shares Down 21% In Two Months: What Now?.... [more]

• Iron ore miner Nathan River Resources enters administration owing at least $300 million.... [more]

• Novo Resources has unveiled a quality-grade gold resource at its Leven Star Reef deposit, part of the company’s Belltopper gold project in central Victoria, 120 kilometres northwest of Melbourne..... [more]

• Forrestania swoops on Zenith in $93M WA gold growth play.... [more]

• Sprintex (ASX: SIX) is progressing the examination of the potential of its fuel cell compressor technology in data centre power applications, including applications intended to support the power requirements of artificial intelligence.... [more]

• Opening date for passengers at Western Sydney International Airport announced. After 15 years of planning, seven years of construction and a year of testing, passengers will first get the chance to fly from the airport on October 25..... [more]

• It’s the end of an Aussie backyard institution with the closure of an iconic retailer’s stores across Australia — including 14 in WA. Iconic retailer Barbeques Galore has officially gone into receivership after a last-ditch rescue deal failed..... [more]

• Global jeans giant Levi’s has launched legal action against Australian clothing company Globe and one of its brands for sewing tags on to pockets – which it says is “blatant copying” of its trademark design..... [more]

• ASIC permanently bans Brite Advisors responsible manager.... [more]

• Comment - Nigel Green: Why are investors holding $13 trillion in cash during an AI boom?.... [more]

• Analysis - Grace Alvino: How to stop wasting money and start building wealth with ASX shares. The best results often come from doing the basics well: spending less than you earn, investing the difference, and staying patient..... [more]

• Analysis - Ian Verrender: Property and the budget ease pressure on the RBA as two banks cut fixed rates.... [more]

World Business News

• Since hitting a record high of $126,000 last fall, bitcoin has dropped to just above $60,000 amid waves of selling. That has erased more than $1.2 trillion in market cap in eight months.... [more]

• Sales of previously occupied U.S. homes accelerated last month to their fastest pace since December, a sharp turnaround in demand after a lackluster start to the spring homebuying season..... [more]

• Social Security funds could run short by 2032, program's Trustees warn.... [more]

• The tech-heavy Nasdaq Composite is inching higher, chipping away at the losses incurred during Friday's plunge, but the index may not be in the clear. The Nasdaq 100 is flashing bearish signals, Bank of America technical strategists .... [more]

• SpaceX IPO demand is approaching four times oversubscribed.... [more]

• These ETFs surged thanks to early SpaceX stakes. What happens to them after the IPO? Investors have recently flocked to ETFs that already have SpaceX exposure. But those funds are about to lose ‘whatever scarcity value’.... [more]

• Facebook's infamous 2012 IPO offers a preview of what could go wrong for SpaceX.... [more]

• JPMorgan Chase plans to deploy artificial intelligence agents later this year that can work autonomously for far longer than existing versions, marking another milestone in the corporate adoption of AI.... [more]

• OpenAI files for US IPO after Anthropic as AI giants head to public markets.... [more]

• Tech stocks tumble again. Another sharp selloff hit tech stocks Tuesday, with some AI-related shares posting double-digit losses shortly after noon ET..... [more]

• Unitedhealth Group stock hits 52-week high at 412.88 USD.... [more]

• GSK boosts cancer portfolio with $10.6 billion Nuvalent takeover.... [more]

• Apple’s AI could usher in a historic upgrade cycle that investors are overlooking. Apple’s new AI features are on track to be monetized faster than expected, thanks to increased hardware requirements and new ‘killer apps,’ analyst says.... [more]

• Stellantis is recalling more than a million Jeep models in the U.S. due to a fire risk after dozens of vehicle owners reported problems..... [more]

• US adds BYD to list of firms with alleged Chinese military ties.... [more]

• Amazon (AMZN.O), has issued C$14 billion ($10.04 billion) of Canadian dollar-denominated notes, a final pricing ​term sheet filed with the SEC on ‌Monday showed, marking a record size for the Canadian corporate bond market..... [more]

• Marguerite Casey Foundation plans to give at least $50M annually, a rare increase at a time of need.... [more]

• Mexico's annual inflation rate decelerated for a second ​month in a row in May, official data showed on Tuesday, ‌returning to the higher end of the central bank's target range while concerns about future trends.... [more]

• Europe faces a widening €1.4 trillion ($1.62 trillion) annual investment gap that risks holding back its economic objectives including energy transition, the European ​Banking Federation said on Tuesday.... [more]

• EU orders Meta to open WhatsApp to rival AI chatbots.... [more]

• The UK’s accountancy watchdog has launched an investigation into PricewaterhouseCoopers over its auditing of WH Smith in the wake of a damaging accounting scandal in the retailer’s US division..... [more]

• UK watchdog to look at Paramount’s $110bn takeover of Warner Bros Discovery. Deal to create a streaming and sports powerhouse will be scrutinised by Competition and Markets Authority.... [more]

• UK's Woodford business rejects allegations of regulatory breaches. W4.0, the new venture of high-profile former fund manager Neil Woodford, on Tuesday rejected allegations it was operating ​without authorisation.... [more]

• Former Burberry boss leads rescue mission for Burleigh Pottery. 175-year-old Stoke-on-Trent company says Christopher Bailey’s investment will ensure continued production.... [more]

• German exports up, production falls short of forecasts.... [more]

• Alibaba Group Holding and pharmaceutical contractor WuXi AppTec fell on Tuesday after the US placed them and several other Chinese companies in key emerging industries on a blacklist over alleged military links..... [more]

• Beijing regulators expect Hong Kong to press advantage as offshore yuan hub. Officials pledge ‘unswerving’ support for Hong Kong’s development as a financial centre while urging city to promote global yuan use.... [more]

• Indonesia Delivers Shock Rate Hike to Reverse Market Selloff.... [more]

• Indonesian trade ministry officials faced a barrage of questions on Tuesday from exporters of palm oil, coal ‌and ferroalloys worried about the impact of a controversial new export control plan designed to extract more profit.... [more]

• India's fertiliser ministry has sought to double ‌its budgeted subsidy fund for the current fiscal year amid a global price rally, a government official said, as the South Asian nation increasingly counts the mounting cost of the Iran war..... [more]

• Starlink India Launch Hits Security Roadblock Before SpaceX IPO.... [more]

• LIV Golf CEO Scott O’Neil told CNBC Tuesday that as a funding cliff approaches, the organization has to trust Saudi Arabia’s Public Investment Fund will back the golf venture through the rest of the season as it’s promised..... [more]

• Comment/Analysis - Niket Nishant and Johann M Cherian: SpaceX's lofty valuation set to put 'Elon premium' to test. The "Elon premium" that has made Tesla (TSLA.O), one of the most highly valued U.S. companies.... [more]