A pretty sorry week. Another sorry night. SPI Futures down 67, setting us up for a pretty shabby Monday start. Eighty-four new ASX 52-week lows on Friday. There should be a few more on Monday. ASX 200 did better than the US last week thanks to an absence of tech stocks (although our tech sector…
Bond yields drop despite the GDP number. Waiting for the PCE Price Index. What will be the signs at the bottom.
A look at the Banks, Resources and Tech Sectors.
FOMC next week. RBA on Cup Day.
Wall Street finished lower overnight amid mixed earnings, robust economic data showing resiliency and falling bond yields. The Dow ended near worst levels, down 252 points (-0.76%). Up 69 points at best. Down 292 points at worst. S&P 500 fell 1.18%, edging closer to a correction, with the index now down ~10% from its July…
SMALL CAP PORTFOLIO 3.00pm Updates I have added another 1% holding in LTR at 171.5c. There is a really good article by Kingsley Jones. Well worth a read. He is a clever guy and a deep thinker. Click here Speculative Stock of the Day: WebCentral (WCG) +190%. Great deal selling one of its businesses for…
TECHNICAL SUMMARY
ASX200 and All Ords hit a 52-week low. Next support not until 6440.
Only four daily buy signals and two sell signals in the All Ords.
Wall Street finished lower overnight amid mixed earnings, robust economic data showing resiliency and falling bond yields. The Dow ended near worst levels, down 252 points (-0.76%). Up 69 points at best. Down 292 points at worst. S&P 500 fell 1.18%, edging closer to a correction, with the index now down ~10% from its July peak. The NASDAQ slumped 1.76%.
Woolworths released first-quarter sales results on Wednesday and hosted its AGM yesterday. The results were mixed with Australian grocery sales outperforming while Big W and NZ underperformed.
JB HI-FI updated the market yesterday with its first-quarter sales and AGM. A similar story to Woolworths almost with JB Australia performing well, the Good Guys flat and JB NZ disappointing.
ASX 200 closed up 15 points at 6827 (0.2%), down only 1% for the week. Banks better after a run yesterday, the Big Bank Basket up to $171.72 (+0.7%). CBA leading the charge up 0.8%. MQG remain under pressure ahead of results due soon, down 0.5%. Insurers slid as yields stabilised, QBE down 1.7% and…
