Thanks Brit and morning regulars. Half-time round-up: Shares...

Thanks Brit and morning regulars.


Half-time round-up:

Shares fell for the first time in five sessions before paring losses as a well-received profit report from US heavyweight Apple boosted US equity futures.

At lunchtime the ASX 200 was 15 points or 0.3% lower at 5532 after earlier falling as low as 5521 following sharp declines on Wall Street overnight as company earnings and economic data missed targets. Gains in gold +2.2%, consumer discretionary +0.6% and energy +0.6% were outweighed by retreats in consumer staples -1.1%, utilities -0.9%, property trusts -0.8% and financials -0.2%.

The market performed better than pre-market futures suggested after shares in Apple rallied in after-market US trade as the company announced record sales of iPhones. The company's shares were lately up 5.74%. S&P 500 futures were ahead by more than 0.3% and Nasdaq futures by 0.7%.

“Despite some large Dow names releasing some ordinary earnings figures, Apple came out after the market closed and beat estimates,” Scott Schuberg, chief executive officer at Rivkin Securities, told Bloomberg. “Given Apple’s size, this may well lift US equity futures and, as a result, brighten up an otherwise ordinary lead for Asian investors.”

The dollar rallied briefly back above 80 US cents after core inflation increased more than expected last quarter. The trimmed mean consumer price index rose 0.7%. Economists had anticipated growth of 0.5% over the last three months of the year. The dollar was lately buying 79.8 US cents, a rise of almost half a cent.

China's Shanghai Composite lost 1.38%, Hong Kong's Hang Seng 0.33% and Japan's Nikkei 0.16%.

Crude oil futures resumed their sell-off this morning, falling 78 cents to US$45.45 a barrel. Spot gold was $2 lower at US$1,289.70 an ounce.



A record quarterly profit for Apple is helping cushion the market fall this morning despite the company warning of the negative effect of currency fluctuations. Oil has tanked pretty hard over the last few hours, presumably due to US inventory news. Cracking pre-market post from 64eheh this morning - one of your best mate, lol. Trading: scratchy morning. Eventually took IWG and MRM at/near their lows. Modestly ahead on both, but no need to order champagne yet.