S&P 500, Nasdaq fall with data, geopolitics offsets strong results.
Treasuries, gold prices rise, stocks fall on Mideast fears.
US yields slide on worries Israeli raids inside Gaza could escalate.
European shares fall on global risk-off mood but log weekly gains.
SMALL CAP PORTFOLIO 3.00pm Updates I have added a 3% holding in GMD at 140.5c despite the move to tidy up the DCN register with its bid this morning. Plenty of chatter on LTR and what it all means. As members will know I had been advocating taking the 300c and running. Maybe having a…
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ASX 200 lost 25 points to 7027 (0.4%) as caution prevailed. It is a big week ahead with results, AGMs and economic data. Many players happy to hug the sidelines. Banks eased back with the Big Bank Basket down to $176.66 (0.5%). WBC the worst of the bunch down 0.8%. MQG off 1.4% with insurers mixed and fund managers easing. MFG fell 4.1% after moves in MGF to change its structure next year.
DIARY NEXT WEEK The main events this week are Corporate, not economic. We have the AGM season in Australia underway, and now the Quarterly production numbers from the resources sector. The US Results season continues – Calendar HERE. RBA meeting minutes on Tuesday morning. The odds of an RBA rate rise at the November meeting are at 45%. UK Unemployment…
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Not much joy overnight. This week has seen the ASX 200 +16, +70, +47, +2 and then minus 40. SPI Futures are down 30. The ASX 200 was up 101 points (+1.41%) this week. The Middle East escalates. The energy sector was the best performing sector +2.3%, as the oil price jumped 5%. Airlines down.…
All Change – We are back on interest rate watch after the CPI number. Interest rate sensitive rally to end. US Results season starts tonight. Usually, a positive. Investment banks up first. DMP – Some broker upgrades. SGR – If you can swallow your ethics. BOQ after dropping 7% on results. Interesting moves in our industry.
Market surviving the CPI number overnight – all is not lost although the rally has certainly started to doubt itself.
BOQ released full year results on Wednesday and was received poorly by the market to say the least. Down 7% (a lot for a bank) on the news, followed by an interesting bounce back yesterday, up 4%.
