End Of Day Report – Market Takes a Breath
The ASX200 fell 55 points (0.77%) to 7058 giving up about half of yesterday’s gains as enthusiasm waned. The market saw steady selling throughout the session with the employment numbers not havin
The ASX200 fell 55 points (0.77%) to 7058 giving up about half of yesterday’s gains as enthusiasm waned. The market saw steady selling throughout the session with the employment numbers not havin
US equities rallied overnight after cooler-than-expected inflation results raised bets the Fed’s tightening cycle may be over. Bond yields and the USD tumbled. Dow up 490 points (+1.43%). Up 593 at best. The NASDAQ jumped 2.37%, and ~95% of the S&P 500 rose, pushing the index briefly across the 4,500 mark for the first time in…
TECHNICAL SUMMARY
Energy Sector with a daily buy signal after a good day yesterday.
BHP trending slowly higher.
No relief for Nickel, on a 52-week low and overbought.
SPI Futures up 490 on the back of the lower than expected CPI number.
CPI Number lights the blue touch paper. Can this rally turn into a trend? No chance of another rate rise according to the bond market. US 2Y Bond yields now down 43bp from the top. US dollar collapses as A$ jumps. Interest rate sensitive sectors have their best day in a year. Financials, Tech, Resources and Lithium all come alive.
CBA released its Q1 trading update yesterday bringing the bank results season to a close. The market reacted well despite a slight fall in net interest margin. Business banking growth was the most impre
ASX 200 up 105 points on the back of a good CPI number – REITs, Resources, Tech and Lithium come alive.
Telstra hosted its investor day yesterday. Not too much to report following their AGM last month. The share price had a (relatively) big fall of 2% as the company reported its fi
The ASX 200 rallied 99 points to 7106 (+1.4%), hitting a two-month high. Up 119 at best. The SPI Futures were up 91 this morning. Interest rate sensitive sectors including REITs took centre stage as the top performers today as bond yields softened. GMG +3.4%, SCG +5.1% and VCX +5.6%. Iron ore futures nearly reached a two-and-a-half-year high,…
That’s better – the market had another good day – we have absolutely nailed the bottom of the market in the Ideas and Strategy Portfolios – you know what they say when you are standing at your desk punching the air in delight…..