This week, the ASX 200 showed positive movement, rising by 1.08%, closing at 8,209.5 points on Friday 20th September. Gains were supported by strength in financials, energy, and mining sectors. Notably, major banks saw a boost, with Westpac rising by 2.38%, NAB by 2.29%, and ANZ by 2.21%. The miners were also strong contributors, with Fortescue Metals up by 2.56%, and BHP Group gaining 2.00%.
The recent decision from the U.S. Federal Reserve (the Fed) to reduce interest rates by 50 basis points, bringing the federal funds rate to a range of 4.75% to 5%, has drawn attention from markets worldwide, including Australia. With inflation in the U.S. having moderated to approximately 2.2%, close to the Fed’s long-term target, many are questioning the rationale behind this rate cut and its broader implications for investors.
This week, Australian markets demonstrated a solid performance, with the ASX 200 rising by 1.1%. Materials led the way with a notable 4.2% increase, buoyed by renewed optimism around potential stimulus measures from China. Lithium stocks enjoyed a rebound from recent lows due to supply cuts, while fears of supply restrictions from Russia impacted uranium, nickel, and titanium markets positively. Oil prices also saw an uptick, supported by output disruptions in the US Gulf of Mexico. The Financials sector lagged slightly, down 0.8%, as investors took profits after a strong run of fresh peaks in the major banks.
There has been a raft of changes made across super, with many coming into place on 1st July, 2022. Want some help getting across them? Here’s what you need to know. Read Post
There’s big news when it comes to your super. The law has changed on the super guarantee – the contribution your employer is required to make into a super fund on your behalf. On July 1st 2022, the mandatory amount of your pre-tax income that goes into your super increased from 10% to 10.5%. Here’s how that could help you in the long-term.
Markets rise and markets fall. This is the nature of regular market cycles. Sometimes when markets have a period of sharp falls in the short term, people forget about the long-term picture and get tunnel vision, focussing only on the short-term negativity.
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Your super balance often forms a significant part of growing your long-term savings for retirement. It may surprise you to know there are currently government schemes available to support you in getting the most out of your super, including the co-contribution program.
It’s July already! For many July means tax time, a chilly month or two before we head towards summer, and this year the Commonwealth Games starts in Birmingham on 28th July, 2022.
There will be many athletes aiming for personal bests and gold medal glory. But it’s not only athletes striving for their best outcomes.
For the first time ever in Australia, the mandatory super contribution by employers has reached 10 percent, up from 9.5 percent.
