SUMMARY Hot CPI Number is another excuse to sell – but will anyone? No "Big Bad Day" – US market damage contained – so no change to Strategy yet. Big pop in bond yields – a whole rate rise in a night. Interest rate-sensitive sectors top out (Housing, REITs, Banks, Small Caps). Might get those…
Lithium finding friends.
Commodity stocks still in demand. WIRE going well.
Has Goldilocks left the building?
Thoughts on watching Peter Deng (Open Ai) present.
Our market has rallied 50 off the low – it will not lie down – Resources and Energy up – interest rate sensitive sectors down
SUMMARY Wall St drops. Inflation slightly higher. Bond yields up. Gold to come under pressure. SNAS ready to come alive. Glad to be in cash for FMG and MQG One Stock Portfolios today. BPT off to a negative start. Setting a stop loss at $1.52. Oil up overnight will help it and KAR. SFR gives…
Wall Street closed sharply lower after hotter-than-expected inflation sent stocks and bonds sliding signalling the Fed will be in no rush to cut rates this year. The Dow traded lower all session before finishing down 422 points (-1.09%). S&P 500 off 0.95%, NASDAQ down 0.84%, and small caps Russell 2000 underperformed, losing 2.52%. Treasury yields…
ASX 200 closed down 35 points to 7814 (-0.4%), giving up yesterday’s gains but rallying from the open low after US CPI data came in hotter than expected. Pushing back rate cut expectations. Rate-sensitive sectors came under significant selling pressure, with the big banks getting clobbered. The big four all ending in the red, ANZ the biggest laggard, down 1.4%, while…
ASX 200 kicks another 24 points higher to 7849 (+0.3%) as resources took centre stage. Iron ore stocks back in demand on China hopes, BHP up 0.7% with FMG up 1.9%. Lithium stocks also doing well on a price bounce in Asian trade, PLS up 1.3%, MIN up 0.5%, with LRS up 14.3%. Gold miners missed out…
Resources bouncing for the second day – everything depends on the CPI number tonight – the risk seems to be on the downside but we’ve said that a few times and been wrong. So we just have to wait and see.
