The Dow Jones Industrial Average lost 9.98 points, or 0.03%, to close at 33,119.57. The S&P 500 dipped 0.13% at 4,258.19, and the Nasdaq Composite traded down 0.12% to end at 13,219.83.
Energy is this week’s biggest loser, followed by the beaten-down utilities sector. Both sectors are down 5.9% and 4%, respectively.
Weekly Jobless Claims came in at 207,000 for the week ending Sept. 30, up just 2,000 from the prior week’s numbers. Economists had forecasted 210,000.
Updates 11.52am – HK Portfolio UMG has just announced a deal with the French at 500c. Will get the green or red light on or close to next Thursday. In the weekend edition, I will run through the NCM deal as it draws to a close in the next few weeks. It was never part of the…
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SUMMARY For Whom the Bell Tolls – The bell has rung at the bottom for one day, it's not enough. But it's interesting. See the ASX 200 chart. Same levels as the March low. Coming up – Jobs number tonight. CPI number next week. Fed Minutes and the US results season. Some big quality industrials…
ASX 200 rose 29 points to 6954 (+0.4%) ahead of NFPs tonight. Banks led the charge higher with the Big Bank Basket at $175.74 (+1.2%). CBA up 1.1%, with WBC the standout, up 2.1%. Insurers rallied, QBE up 2.7%, and MQG doing better up 0.5%, but MFG fell 18.5% on lower FUM numbers again. REITs…
ASX 200 rose 29 points to 6954 (+0.4%) ahead of NFPs tonight. Banks led the charge higher with the Big Bank Basket at $175.74 (+1.2%). CBA up 1.1%, with WBC the standout, up 2.1%. Insurers rallied, QBE up 2.7%, and MQG doing better up 0.5%, but MFG fell 18.5% on lower FUM numbers again.
U.S. stocks closed higher on Wednesday.
The Dow Jones Industrial Average added 127.17 points, or 0.4%, to close at 33,129.55. The S&P 500 gained 0.81% at 4,263.75. The Nasdaq Composite rose 1.35% at 13,236.01.
Tesla up 5.9% and Amazon, Google, and Microsoft all up around 2%. Growth in US services sector slowed along with US private payrolls increasing less than expected. Equity markets viewed these results as reducing the chance of a Fed rate rise however all eyes remain on the key US jobs number expected Friday night (our time).
A day on Bond Market Relief. Does one good day does not bottom the market? Is that the top of the oil price? Maybe. Is that the top for inflation? Possibly.
Is that the bottom for the Equity market? Unlikely. Still in cash.
ASX 200 was up but has faded. A bit of Bond market relief kicked off by a 5% fall in the oil price has helped but not much.
ASX 200 shrugged off early indifference to push off the 6900 level to close at 6925, up 35 points (+0.5%). Banks and industrials leading the bounce from oversold levels. The Big Bank Basket rose to $173.59 (+0.9%). CBA up 0.9%, and NAB up 0.7%. Insurers steadied, fund managers found their feet, and MQG up 1.1%.…
