US equities fell sharply overnight, pressured by a fall in megacap growth companies like Apple and the chip sector ahead of Powell tomorrow and NFP on Friday. The Dow fell 405 points (-1.04%), down 532 points at worst, the S&P 500 lost 1.02%, and the NASDAQ fell 1.65%. Tech, growth, and momentum sectors were hit…
ASX 200 closes up 9 at 7734 (0.1%), turning positive as GDP number disappoints and hopes for a rate cut brought forward.
Banks in favour.
Bitcoin – wave at me when you go past in your Lamborghini. Big Tech still running. Lots of signposts this week. Chinese GDP forecast coming. Lots of ex-dividends.
A few directors buying bombed out stocks.
SUMMARY MQG and BHP fall yesterday. Staying in Cash. BOE bounces after a Friday sell-off. LLC yet to come to life. Real Estate sector hits an all time high as bond yields drop. CBA pushes onwards and upwards. Hits another record high. Gold hits an all time high. ETFs on 52-week highs. SUMMARY MQG and…
ASX fell 12 points at 7724 (0.2%). Some weakness in a few sectors weighed.
Lithium stocks smashed. Gold flies higher.
Results season is over but there are a host of ex-dividends and Macro signposts this week from Powell, the ECB and the Chinese National People’s Congress
ASX fell 12 points at 7724 (-0.2%). Some weakness in a few sectors weighed. Banks eased back with the Big Bank Basket down to $206.08 (-0.8%). CBA leading the loss, off 1.0%. MQG slipped 0.3%, and GQG fell 1.8%, with REITs down a tad. Industrials weaker across the board, looking a little tired after reporting…
Australian Financial Group (AFG) Results – Held in the Income Portfolio. Suffered a nasty 10% drop after reporting last Thursday. Net profit down 34% and net interest margin down by $11.6m due to peak funding costs and competition. Not all bad, the broking segment saw a market share increase to 21% and the outlook for…
Perpetual (PPT) had results last Wednesday – Held in the Income Portfolio. Net profit up 29%, underlying profit up 46% (not including the Pendal integration costs). Two of its three segments recorded profit growth. Funds under management up 165% thanks to the successful Pendal integration. Its $40m synergy target exceeded. The corporate trust segment saw…
