SUMMARY Fed raises rates. Markets yawn. Data dependent. Clear air now. MQG AGM Looks underwhelming for a change. Nick fails to fire. Australian Inflation at 6%. Next stop 5%? Maybe. Is that a soft landing I see before me. Comparisons are good. PMV looks cheap. Quick Takes: IGO makes a pig’s breakfast of things. MQG…
SUMMARY Talking RIO on CNBC this morning. Ausbiz Investment Committee apologies. IVC dragging on. Phil King moves on Pacific Current but no Harry Kane.Implications for PTM. 2.45pm Update – The Road Map The rally kicks. Banks now leading the charge. More than Happy to see MP1 kick higher on good results. Face saving from recommendation…
US equity markets closed mixed following the Fed’s decision to raise rates by 25bps as investors assess the latest comments from Fed chair Powell.
MARKET AT MIDDAY The ASX 200 is up 53 points to 7455 (+0.7%) building on a flat start to push ahead. Banks the standouts. MQG AGM underwhelms. Mining stocks and iron ore giants, suffering small losses Rio Tinto (RIO) fell 2.2% as its half-year profit declined by 34% due to weaker commodity prices, missing analyst expectations for both underlying results and dividends. Fortescue Metals (FMG)…
Marcus Today Members Podcast Thursday
ASX 200 closed up 54 points to 7456 (+0.7%), a five-month high rebounding after an initial dip at the opening bell.
Wall Street closed higher overnight, led by the NASDAQ amid excitement about AI before earnings reports from tech mega-cap companies after the bell.
Members Podcast Wednesday
MARKET AT MIDDAY The ASX 200 is up 51 points to 7391 (+0.7%) as headline inflation comes in lower than expected at 6%, beating forecasts of 6.2%. The reduction in inflation increases the likelihood the RBA will pause rate hikes as the economy shows signs of slowing down. Iron ore miners, BHP Group (BHP) +2.5%, Rio Tinto (RIO) +1.9%, and Fortescue Metals (FMG) +1.7% gaining momentum from…
ASX 200 closed up 62 points to 7402 (+0.9%), hitting a five-month high, while the Aussie dollar and bond yields fell on softer-then-expected inflation data reducing pressure on the RBA to tighten policy further. Miners continued their rally today on China’s stimulus pledge, sector majors BHP up 2.3%, RIO gained 1.4% and FMG up 2.3%.…
