A JetBlue passenger is suing the airline for $1.5 million.
She says she was scalded by hot tea that was served during turbulence.
It comes as some airlines have changed procedures due to a renewed focus on turbulence.
A JetBlue passenger who says she was scalded by hot tea is suing the airline for $1.5 million, according to court documents filed last Friday.
Tahjana Lewis was flying from Orlando to Hartford, Connecticut on May 15 when the plane encountered turbulence, the complaint says.
It alleges that the cabin crew was serving beverages despite the seatbelt sign being on.
A passenger next to Lewis ordered a tea which was then spilled over the plaintiff, resulting in "severe burns" to her chest, legs, and right arm, the suit says.
It adds that the burns have caused disfigurement and scarring, and accuses JetBlue of serving beverages "at a temperature that was unreasonably and dangerously hot."
JetBlue did not respond to a request for comment from Business Insider.
The lawsuit comes at a time when airline procedures during turbulence are coming under renewed focus, following the death of a Singapore Airlines passenger.
As a result of that incident, Singapore Airlines — one of just 10 carriers to be rated five stars by Skytrax — announced it would no longer serve meals when the seatbelt sign is on.
Korean Air followed suit in changing protocols, ending cabin service 20 minutes earlier than previously. It said the number of turbulence incidents had doubled between 2019 and 2024.
The author moved from Finland to the US, raising her kids to be independent.
Courtesy of the author
I moved to the US to build my dream media career and then had three boys, ages 10, 8, and 3.
Combining work and family is a struggle Finnish women don't have.
Parenting norms in the US are more all-consuming than in the Nordics.
I'm originally from Finland, and after a decade of ticking off my career goals in the US, I fell for an American man, my neighbor in our Brooklyn apartment building. It seemed like I had just about reached everything I had wished for when my life took a turn.
After I became pregnant with our first son, I was shocked to learn how much harder motherhood was in the US and how much more challenging it was to balance work with family compared to the Nordics.
Taking time off from work to have kids is encouraged in the Nordics
In the US, I was surprised to see and experience how rare paid parental leave was and how short it was: new moms — and dads — are quickly pushed back to work almost as if they hadn't had kids.
I tried that (even though my Nordic friends called me barbaric) and quickly burned out. My Finnish friends, on the other hand, were thriving instead of just surviving through motherhood. They first solely focused on family for the first 14 months due to long parental leaves and then seamlessly returned to their jobs, even at executive levels. They told me successful career arcs are waves rather than hockey sticks. Inspired, I looked for a family-friendly company in my industry to try to transition to but came up empty-handed.
I had to decide whether to be a stay-at-home mom or a working mom
Unlike in Finland, this is one of the biggest decisions new American mothers make. Due to the work culture in the US, choosing a career requires giving up most of the time with your child, and staying at home requires giving up work interests. In Finland, most women return back to work, as it doesn't require giving up too much family time with the 37.5-hour workweek, long vacations, and option for part-time schedules.
I understood I couldn't find that in the US, but I hadn't realized I would have to give up so much more than time with my kids just to return to work — I had to give up most of my salary. After we had had two kids, I was offered an exciting new job opportunity with fantastic pay. Yet, after I calculated the cost of two kids in nursery school along with a full time nanny, there was nothing much left — except my husband's salary — to live on. I still almost took the job, but in benefits negotiations, I was told there would be "no flexibility." That was it for me.
American parents do a lot for their kids
American parents around me tend to care for their children by doing a lot for them and by removing discomforts and obstacles, while in the Nordics, parents show care by both letting and pushing their kids to do what they are capable of to prepare them for the world.
I have accidentally baffled many American parents by raising my children like kids are raised in the Nordics, embracing all types of weather and encouraging them to be independent. We live within walking distance of their school, so, wearing the appropriate gear, we walk in rain, shine, snow, or sleet. I have let my boys race well past me on scooters, even as toddlers, and run around playgrounds as I sit on the sidelines.
At elementary age, I have them schedule their playdates so they call their friends' parents to organize them. And, after school, I suggest they skip homework to get that essential playtime outside after school instead (the American school day is two to three hours longer than the Finnish one, with less recess). And, if our elementary-age children don't want to join us when we run errands, we welcome them to stay home — alone.
They thrive with autonomy, and my husband and I do, too. However, finding opportunities for them to develop their independence is a challenge: I often get asked if my kids are indeed mine when I'm only a short distance away or asked to supervise them, even if I can see them but not hover over them.
I do less parenting in Finland
Back in the US, I have decided to consciously create more bandwidth by opting out of many voluntary but culturally encouraged American mom tasks, from participation in school activities during the daytime to scheduling — and attending — countless travel sports and choosing simpler commitments instead.
I also don't spend much time entertaining my kids, allowing them to take the lead in creating their own fun.
However, I help my kids master independence skills, like the autonomous morning routine, so I can drink my coffee hot, workout, and get ready — while they get themselves ready. And, to balance the load of the invisible work, I have outsourced things that can't not be done to my husband, such as school registrations and passport renewals because they have motivating natural consequences.
I came to the US for the American dream but found something else that led me to thrive: Nordic principles of balance, bandwidth, and autonomy — and the innovative spirit of American moms. In the US, I see massive amounts of brilliance hiding in plain sight: well-educated career women who are not able to use their talents because, after kids, it's simply too exhausting on all levels. So they decide to work outside the system, and completely reinvent themselves — and, so did I.
The S&P/ASX 200 Index (ASX: XJO) enjoyed a strong day of trading this Tuesday, in what was a welcome comeback for the Australian markets after yesterday’s rough start to the week.
By the closing bell, the ASX 200 had galloped a confident 0.86% higher, leaving the index at 7,829.7 points.
This happy Tuesday for ASX shares follows a more subdued night of trading over on Wall Street last night.
The Dow Jones Industrial Average Index (DJX: DJI) kicked off the American trading week on a sour note, slipping 0.079%.
But things were brighter over on the tech-heavy Nasdaq Composite Index (NASDAQ: .IXIC), which managed a gain of 0.28%.
But let’s now return to our local markets and check out what was going on with the different ASX sectors this session.
Winners and losers
It was all smiles today amongst the ASX sectors, with not one recording a loss.
The worst-performing corner of the market, though, was energy shares. The S&P/ASX 200 Energy Index (ASX: XEJ) had a comparatively tame day, inching up 0.15%.
Gold shares were also relatively subdued. The All Ordinaries Gold Index (ASX: XGD) lifted 0.16% by the closing bell.
Things were brighter with consumer staples stocks though. The S&P/ASX 200 Consumer Staples Index (ASX: XSJ) saw its value rise 0.33%.
Following REITs, we had utilities shares. The S&P/ASX 200 Utilities Index (ASX: XUJ) lifted 0.57% this Tuesday.
ASX mining stocks had a cracker today, evidenced by the S&P/ASX 200 Materials Index (ASX: XMJ)’s 0.6% leap higher.
Industrial shares were another bright spot. The S&P/ASX 200 Industrials Index (ASX: XNJ) banked a 0.67% gain this session.
Healthcare stocks were on fire too, with the S&P/ASX 200 Healthcare Index (ASX: XHJ) shooting up 0.68%.
Then we have tech shares. The S&P/ASX 200 Information Technology Index (ASX: XIJ) vaulted up 0.8%.
Consumer discretionary stocks were also making their investors very happy, illustrated by the S&P/ASX 200 Consumer Discretionary Index (ASX: XDJ) soaring 0.81%.
Financial shares were making hay today as well. The S&P/ASX 200 Financials Index (ASX: XFJ) recorded a 1.35% surge.
Finally, communications stocks were our best sector of the day, with the S&P/ASX 200 Communication Services Index (ASX: XTJ) rocketing 1.39%.
Top 10 ASX 200 shares countdown
It was financial services stock Insignia Financial Ltd (ASX: IFL) that took out the index’s top spot today. Insignia shares surged by a hefty 13.64% up to $2.50 each.
That was despite no price-sensitive news or announcements out of Insignia today or for a while now.
Here’s how the rest of today’s winners looked at market close:
Our top 10 shares countdown is a recurring end-of-day summary to let you know which companies were making big moves on the day. Check in at Fool.com.au after the weekday market closes to see which stocks make the countdown.
Should you invest $1,000 in Bega Cheese Limited right now?
Before you buy Bega Cheese Limited shares, consider this:
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Motley Fool contributor Sebastian Bowen has positions in Telstra Group. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Domino’s Pizza Enterprises and Pinnacle Investment Management Group. The Motley Fool Australia has positions in and has recommended Pinnacle Investment Management Group and Telstra Group. The Motley Fool Australia has recommended Domino’s Pizza Enterprises. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
Meghan Trainor has been open about her parenting journey since she gave birth to her first son in 2021.
NDZ/Star Max via Getty Images
Meghan Trainor said that her son sat on his potty while she sat on the toilet bowl.
The Grammy-winning singer shared her parenting method on Dax Shepard's podcast, "Armchair Expert".
Experts say potty training methods should be tailored to each child's needs.
Meghan Trainor has atrick forpotty training her son and it involves answeringnature's call together.
In an interview with Dax Shepard on his podcast "Armchair Expert" on Monday, the "Made You Look" singer shared her potty training method while discussing anal fissures.
"We're potty training my kid, so don't attack me internet, but I pooped with him," Trainor, 30, told Shepard. "He was on his little potty, and I was over here. I know I can smell my poop, but we were like, 'We did it, buddy!'"
This is not the first time Trainor has brought up toilet talk. In 2021, she was interviewed with her brother Ryan Trainor on the "Why Won't You Date Me?" podcast hosted by Nicole Byer. "They poop together. She's pooping and Daryl's like, 'I'm going to go hang out with you now!'" Ryan said about his sister and her husband on the show.
Trainor told Byer that she and her husband, actor Daryl Sabara, had installed two toilet bowls side by side in their house. The setup has also helped ease nighttime parenting duties.
"Because we have young babies, so we're getting up every hour on the hour, and this dude pees like a girl. So I was like, get out of my way, I have to piss," she told Shepard. "So I solved this crime, and I was like, we're gonna pee at the same time."
She clarified, however, that their shared bathroom time was limited to peeing.
Trainor and Sabara married in December 2018 after dating for almost two years. They welcomed their son, Riley, in February 2021 and their second son, Barry Bruce, in July 2023.
Since then, Trainor has been open about motherhood and parenting, including developing post-traumatic stress disorder after the complicated birth of her first son.
Trainor is not the only celebrity sharing her potty training methods. In 2020, actor Kristen Bell said in her podcast "Momsplaining with Kristen Bell" that when her older daughter was 21 months, she and her husband, Dax Shepard, had simply suggested she use the toilet.
"We were lying in bed giggling about this, my husband and I, like, 'Why does everyone make a big deal out of this potty training? It's so easy. Just tell the kid to use the toilet,'" she said.
She went on to explain that it wasn't as easy with her younger daughter, who was still wearing diapers at 5.
While methods for potty training vary, Paul Patterson, MD, a board-certified pediatrician, told BusinessInsider that potty training should be tailored to each child's needs.
"Each child and family is unique and thus so must the approach be to potty training," he said.
However, the extreme makeover may have less to do with Zuckerberg's evolving taste in fashion than with a concerted plan to make the billionaire more relatable to people his age.
In January 2020, the Meta CEO exchanged a series of emails with his colleagues and then-board member Peter Thiel on how they could better sell Facebook to millennials.
But what's more interesting was the personal brand that Zuckerberg hoped to cultivate as part of Meta's plan to woo millennials, as outlined in one email exchange.
"While our company has a special role in the lives of this generation, this is likely particularly important for how I show up because I am the most well-known person of my generation," Zuckerberg wrote in an email on January 4, 2020.
Zuckerberg's emails, first reported by the newsletter Internal Tech Emails, were among the company documents and correspondence that the state of Tennessee filed as evidence in its lawsuit against Meta.
In October, Tennessee Attorney General Jonathan Skrmetti filed a lawsuit against the social media giant. The lawsuit, which was filed alongside 41 other states, accused the company's product Instagram of causing "mental health harms to its young users."
Interestingly, Zuckerberg wasn't the only one who saw himself as a youth icon.
In an email on December 31, 2019, Thiel said that the company's popularity among the young meant that Zuckerberg "has been cast as the spokesman for the Millennial generation."
Zuckerberg, Thiel said, is seen as "the single person who gives voice to the hopes and fears and the unique experiences of this generation, at least in the USA."
"I think this overall shift is something we should consider for how our company communicates and shows up more broadly, but it's something I'm definitely going to think about more in terms of how I communicate," Zuckerberg wrote in response several days later on January 4.
To be sure, Meta may no longer be the most popular social media platform for millennials. The company has seen increased competition from the likes of TikTok, which hooked users with its focus on short-form videos.
The image makeover has also delivered a huge PR boost for Zuckerberg, who wasn't always seen as the coolest guy in tech.
After all, Zuckerberg's reputation was tarnished during the 2018 Cambridge Analytica scandal, when Facebook was accused of allowing the data of millions of users to be improperly accessed by the political analytics firm.
The Meta chief's image revamp did not go unnoticed by his fellow billionaires. Spotify founder Daniel Ek told Forbes in an interview last year that he thinks Zuckerberg's new public persona is "a lot more authentic."
"He's learned a lot over these past few years and he has a new fire in the belly," Ek, who has known Zuckerberg for years, told the outlet. "He's realized he needs to act responsibly because he's got this enormous platform."
Representatives for Zuckerberg didn't immediately respond to a request for comment from BI sent outside regular business hours.
Melanie Perkins, the CEO of Canva, told The Verge what she doesn't want people to use Canva AI for.
Canva
Canva bans its AI tool from creating images of political candidates or medical terms.
The decision aims to prevent harmful or inappropriate content, CEO Melanie Perkins told The Verge.
Canva's AI policies appear more artist-friendly than Adobe and Meta, which faced backlash.
Design juggernaut Canva has drawn hard lines around what its AI tool can and can't make.
Canva's AI feature, called Magic Media, doesn't work with medical or political terms, because such content may be harmful or inappropriate, CEO Melanie Perkins said in an interview with The Verge published on Monday. Canva's software can be used to create anything from party invitations to social media content to presentation templates.
"Canva has been designed to be a platform where you can come in and take your idea and turn it into a design, but there are certain things we shouldn't be generating," Perkins, who cofounded the 11-year-old company, said.
For example, Perkins said that if the tool is prompted to create images of political candidates, it will simply tell the user: "You can't do that."
Users can still create designs with political or health content on the platform on their own.
Canva also does not allow AI to be used for generating contracts, legal or financial advice, spam, or adult content, according to its AI product terms.
The company also has a clear policy on AI scraping. Canva does not train its AI on creators' content without permission, and users can opt out of their designs being used for AI training any time, according to a company blog.
By default, all users are opted out of private design content from being used to train AI models, a Canva spokesperson told Business Insider.
Last year, the company created a $200 million fund to pay users who opt into AI training in the next three years.
Canva's stance on AI differs markedly from those of other content creation giants, Adobe and Meta, which have come under fire within the creative community in recent months.
At the time, Adobe said in a blog post that content belongs to users and it would never be used to train generative AI tools.
A spokesperson for Adobe referred BI to the company's AI guidelines, which direct users not to create hateful or adult content and not seek medical advice from AI features. The guidelines do not mention whether such content can be generated in the first place.
At least 12 businesspeoplereceived more than 1 trillion rubles, or $11.4 billion, in dividends for all of 2023 and the first quarter of 2024, according to Bloomberg on Tuesday. The outlet based its calculations on publicly disclosed information.
Many of the tycoons who received the dividend windfall are closely tied to Russian President Vladimir Putin, according to the news outlet. Some of them have been sanctioned by the West.
The biggest winners from the dividend payouts were commodities exporters that have benefited from Russia's pivot of its trade eastward toward China, India, and other countries in the global south. Their key customers were previously from Europe.
The biggest winner was Vagit Alekperov, a key shareholder and former president of oil giant Lukoil, who received 186 billion rubles in dividends, per Bloomberg. He has been sanctioned by the UK and Australia.
Alexey Mordashov, chairman and a main shareholder of steel company Severstal, pocketed 148 billion rubles in dividends. The US, the UK, and the EU have sanctioned him.
Meanwhile, Vladimir Lisin, the chairman of Novolipetsk Steel, raked in 121 billion rubles in dividends.
The payouts illustrate how Russia's biggest companies are still profiting despite the West's isolation of the country's economy, which grew 5.4% in the first quarter of this year from a year ago.
However, Russia's Center for Macroeconomic Analysis and Short-Term Forecasting — a key think tank — warned the country's economy could cool and slip into crisis in the second half of this year should the Bank of Russia hike interest rates, reported Kommersant, a business news outlet, on Monday.
Elvira Nabiullina, Russia's central bank chief, has signaled an interest-rate hike ahead due to higher-than-expected inflation.
Russia's key interest rate is already at 16% to cool price rises, but inflation hit 8.3% in May — well above the official 4% target.
HomeCo Daily Needs could be a top option for income investors. It is a property company with a focus on neighbourhood retail and large format retail assets (retail parks).
Morgans rates HomeCo Daily Needs highly. This is due to the resilience of its cashflows and exposure to accelerating click and collect trends. Together with its development pipeline, the broker feels the company is well-positioned for growth.
Morgans expects this to underpin dividends per share of 8 cents in FY 2024 and then 9 cents in FY 2025. Based on the current HomeCo Daily Needs share price of $1.20, this will mean dividend yields of 6.7% and 7.5%, respectively.
The broker currently has an add rating and $1.37 price target on its shares.
Another ASX dividend stock that could be a buy is private health insurer NIB.
Goldman Sachs is positive on the company. It highlights that NIB “offers defensive exposure to the private health insurance sector which is experiencing favourable operating trends.”
The broker expects this to support the payment of fully franked dividends per share of 31 cents in FY 2024 and 30 cents in FY 2025. Based on the current NIB share price of $6.88, this would mean 4.5% and 4.3% yields, respectively.
Goldman currently has a buy rating and $8.10 price target on NIB’s shares.
Finally, Morgans is also positive on Woodside and thinks it could be an ASX dividend stock to buy. Woodside is of course one of the world’s largest energy companies with a portfolio of high-quality operations and projects.
The broker thinks that recent share price weakness has made now “a good time to add to positions.” Especially given that it believes Woodside “will still generate substantial high-quality earnings for years to come.”
Morgans expects this to underpin fully franked dividends of $1.25 per share in FY 2024 and then $1.57 per share in FY 2025. Based on the current Woodside share price of $28.59, this equates to 4.4% and 5.5% dividend yields, respectively, for investors.
The broker has an add rating and $36.00 price target on its shares.
Should you invest $1,000 in Homeco Daily Needs Reit right now?
Before you buy Homeco Daily Needs Reit shares, consider this:
Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Homeco Daily Needs Reit wasn’t one of them.
The online investing service heâs run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*
And right now, Scott thinks there are 5 stocks that may be better buys…
Motley Fool contributor James Mickleboro has positions in Woodside Energy Group. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Goldman Sachs Group. The Motley Fool Australia has positions in and has recommended NIB Holdings. The Motley Fool Australia has recommended HomeCo Daily Needs REIT. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
Commonwealth Bank of Australia (ASX: CBA) shares are trading 1.47% higher on Tuesday at $128.30.
CBA shares are outperforming the S&P/ASX 200 Index (ASX: XJO), which is up 0.82%.
Australia’s biggest home loan lender has released revised growth predictions for home prices.
Let’s check them out.
CBA shares going in the same direction as home values
In a note released last week, CBA increased its forecast growth for home values in the calendar year 2024.
CBA senior economist Belinda Allen said:
We have held a long-term view that national home prices would lift by 5% this calendar year.
In recent months we have highlighted upside risks to this forecast based on acute housing shortages, strong demand and below average listings on the market.
As a result of these factors and monthly home price rises remaining stronger than expected we revise our forecasts to expect a 7% lift this year.
As we recently reported, the national median home value, which reflects all types of property in a single data point, rose by 8% in FY24 (total returns of 12.2% with rental income), according to CoreLogic data.
But the strongest markets recorded far greater growth than the national median.
Perth home values screamed 23.6% higher in FY24. Brisbane values leapt 15.8% and Adelaide values weren’t far behind at 15.4%.
The key reason for these cities’ outperformance was tight supply and demand.
The number of homes for sale is significantly below the long-term averages for each city. Plus, demand is high given these markets offer much greater affordability than Sydney, Melbourne and Canberra.
What about interest rates?
Allen said higher interest rates â which mean higher mortgage repayments and limitations on credit availability for new buyers â along with cost-of-living pressures would normally slow the pace of home prices or even push them lower. But that’s not happening due to the tight supply and demand.
“… the leading indicators such as new lending, auction clearance rates and even sentiment continue to point towards gains in home prices,” she said.
The possibility of an increase in interest rates due to sticky inflation may limit the upside risk to home values and slow the pace of price growth, she added.
CBA predicts an interest rate cut in November, and Allen said this could provide a tailwind for home values. Her economics team sees further price gains ahead in 2025.
She said:
Our first look at home prices for 2025 sees further gains nationwide, although significant capital city divergences remain.
An expected easing cycle by the RBA and still acute supply shortages should see prices rise, but growing affordability challenges should limit the size of these gains.
We expect a lift of 5% over calendar year 2025 with the mid-tier capital cities again outperforming Sydney and Melbourne.
Property price predictions for 2024 and 2025
Here are CBA’s forecasts for home values growth in the calendar years of 2024 and 2025.
Capital city
Growth prediction2024
Growth prediction2025
Perth
22%
12%
Adelaide
14%
9%
Brisbane
13%
7%
Sydney
5%
4%
Melbourne
0%
4%
Source: CBA
What’s next for CBA shares?
The outlook for CBA shares among brokers is varied.
Goldman Sachs is bearish.
Goldman describes CBA shares as “in uncharted valuation territory” based on the premium they usually trade for relative to their return on equity (ROE) forecast.
The broker has a sell rating on CBA and a 12-month share price target of $82.61.
This implies a 35% fall from today’s CBA share price.
UBS also expects CBA shares to fall but not by as much as Goldman.
The broker has a 12-month share price target of $105, implying an 18% downside risk from here.
Braden Gardiner from Tradethestructure recently told The Bull that traders in CBA shares “may want to consider locking in some gains if the share price falls below $116”.
Should you invest $1,000 in Commonwealth Bank Of Australia right now?
Before you buy Commonwealth Bank Of Australia shares, consider this:
Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Commonwealth Bank Of Australia wasn’t one of them.
The online investing service heâs run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*
And right now, Scott thinks there are 5 stocks that may be better buys…
Motley Fool contributor Bronwyn Allen has positions in Commonwealth Bank Of Australia. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Goldman Sachs Group. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
The BHP Group Ltd (ASX: BHP) share price is up 0.53% to $43.71.
Mineral Resources Ltd (ASX: MIN) shares are only just in the green, up 0.053% to $56.36 apiece.
The Fortescue Ltd (ASX: FMG) share price is down 0.23% to $21.77.
Champion Iron Ltd (ASX: CIA) shares are 0.31% lower at $6.45.
The Rio Tinto Ltd (ASX: RIO) share price is an outlier, up 0.87% at $120.94.
What’s happening with the iron ore price this week?
Analysts at Trading Economics say a four-day rally last week inspired some profit-taking.
Secondly, investors are continuing to assess the outlook for demand in China.
China is the world’s biggest consumer of iron ore.
The country imports 76% of the iron ore dug out of the ground worldwide every year. Therefore, the rate of demand there has a very significant influence on the iron ore price.
Australia is one of the world’s biggest producers of iron ore. China’s custom was worth $115.6 billion in export earnings to us in 2023, according to the Department of Resources.
That’s why we tend to see a pullback in ASX iron ore shares when the commodity price falls or we hear negative news out of China.
According to Trading Economics analysis of last night’s fall in the iron ore price:
Data also pointed to rising iron ore inventories on Chinese ports, signaling weaker demand from steel mills for metal production. Markets now look ahead to the Third Plenum later in July where top Chinese officials are expected to tackle plans on “comprehensively deepening reform and advancing Chinese modernization,” with investors looking for further policy support for the property sector.
Westpac Senior Economist Justin Smirk expects the 62% spot iron ore price to fall from here.
He tips the iron ore price will dip to an average of US$102 per tonne in the September quarter and US$90 per tonne in the December quarter.
He sees a further decline to between US$85 per tonne and US$87 per tonne from the March 2025 quarter to the March 2026 quarter.
This time next year, Smirk thinks the iron ore price will be averaging US$85 per tonne.
The Australian Government also forecasts the commodity’s value to fall. Its latest official forecast points to a fall in the 62% spot price to a nominal average of US$96 per tonne in 2024.
It predicts a further decline to a nominal average of US$84 per tonne in 2025 and US$77 per tonne in 2026.
This will contribute to reduced iron ore export earnings from $138 billion in 2023â24 to $114 billion in 2024â25 and $102 billion in 2025â26.
What will this do to ASX mining share prices?
The iron ore price has a direct impact on the earnings of ASX 200 miners.
Miners are price takers, so their earnings are subject to global commodity values. Production volumes also have an impact, of course.
Usually, when the commodity price is rising or falling, ASX mining share prices follow suit.
Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Bhp Group wasn’t one of them.
The online investing service heâs run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*
And right now, Scott thinks there are 5 stocks that may be better buys…
Motley Fool contributor Bronwyn Allen has positions in BHP Group and Commonwealth Bank Of Australia. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.