Good day yesterday, no follow-through overnight. Retailers bottoming as rate rise fear dissipates.US sees low volumes as long weekend approaches – Holiday Season in the US. I have started breaking out Weekly (for Investors) from Daily signals (for Traders) in the Technical Scans. By popular demand – a spreadsheet with expected dividend dates on it.
COMPANY NEWS National Australia Bank (NAB) – Alison Kitchen, the chair of KPMG Australia, has been announced as a non-executive director of NAB. Medibank Private (MPL) – Revealed its plan to return $125m to customers as a result of permanent net claims savings during the COVID-19 pandemic. The insurance provider aims to give cash back…
ASX 200 closed down 2 points to 7195, sinking from early gains after Retail sales show signs of resistance..
ASX 200 closed down 2 points to 7195, sinking from early gains after Retail sales show signs of resistance, coming in at 0.7% for May compared to 0.1% forecast. Consumer discretionary had an obvious boost from the higher retail numbers, EDV up 0.6%, DMP up 2.1%, and BBN jumped 7.4%. Banks continued to rally, ANZ…
SUMMARY Only one 52 week high and we hold it in the MT INCOME portfolio – MMS Those sell signals on the NASDAQ, S&P 500 and the Dow Jones yesterday are looking a bit premature this morning. Overbought sector – Consumer Staples with WOW and COL are overbought. Oversold sector – Healthcare thanks to a…
SUMMARY Was that the end of the selling? Macro Blah Blah. CPI Today. SNAS Bears going to get clipped today. Short term versus long term Technical Signals. BREAKING NEWS The CPI number is well below expectations. Just what we wanted and will help reverse this recent sell-off. May CPI +5.6%, well below the 6.1% expected…
This is the Marcus Today Members Exclusive Podcast – A good day today as the CPI number comes in below expectations and the market pops 50 points.
MARKET AT MIDDAY The ASX rallied at the opening bell, climbing 43 points in the first 10 minutes of trade, tracking gains on Wall Street overnight, with Healthcare, Technology, and Consumer Discretionary stocks leading gains. At 11:31, the ASX 200 jumped 1% to 7,190 after inflation data came in cooler than expected at 5.6% in May, vs…
ASX 200 closed up 78 points to 7197 (+1.1%), boosted by cooler-than-expected inflation results. The Aussie dollar fell to 66.43c (-0.6%), and the 2Y and 10Y bonds took a hit following inflation results, before closing down 6bps and 5bps, respectively. Interest rate-sensitive sectors performed well. Consumer discretionary the best-performing sector today WES up 1.3%, JBH…
