The ASX 200 fell 53 points to 7154 (-0.7%), snapping a two-day advance following the US markets lower. All eyes are on US CPI tonight. Stronger oil prices have raised concerns for a higher headline inflation reading. Almost all sectors went lower today. Utility and Energy stocks were the only sectors to rise supported by higher oil…
The market dropped all day down 66 at worst and closing down 53 in a nervous session ahead of the CPI number in the US tonight. If the market drops when it has nothing to do its not a good sign.
INDUSTRIALS TECHNOLOGY RESOURCES SMALL INDUSTRIALS
SPI Futures up 7 but a strong performance from both Big Tech , the iron ore price, the Resources in Europe and the A$ suggest we are on the right side of the ledger today.
From Reuters yesterday – Sept 11 (Reuters) – Australian billionaire Gina Rinehart's Hancock Prospecting said on Monday it has picked up a stake in lithium miner Liontown Resources (LTR) which recently accepted a buyout bid from Albemarle. Hancock said it has become a "substantial shareholder" of 7.72% of the ordinary shares in Liontown. Liontown's shares…
US markets closed higher overnight, led by a rally in tech stocks ahead of a busy week. The Dow Jones rose 87 points, trading higher all day up 208 points at best. The S&P 500 and Nasdaq ended near best levels, up 0.67% and 1.14%, respectively, ending above the 50-day moving average after slipping below…
Iron ore up, Resources up, A$ up 1%, US$ down – just what we wanted. But it gets better – NASDAQ up over 1%. Tesla transforms into an AI behemoth thanks to Morgan Stanley. Chinese economy through the worst? Anticipating a good CPI number. 80% of Economists think rates will be lower next year.
We have slipped 36 points at worst today as we wait for the US CPI number tomorrow
ASX 200 closed up 15 points to 7207 (+0.2%) in a choppy day of trade. The ASX 200 fell 36.5 points in early trade before bouncing back following. Better-than-expected NAB Business Confidence data may have helped but again, it was a resources rally that turned the tide. The ASX 200 is rallying into the CPI numbers tomorrow night helped…
ASX 200 closed up 15 points to 7207 (+0.2%) in a choppy day of trade. The ASX 200 fell 36.5 points in early trade before bouncing back following. Better-than-expected NAB Business Confidence data may have helped but again, it was a resources rally that turned the tide. The ASX 200 is rallying into the CPI numbers tomorrow night helped by a mildly more positive vibe about China. Miners carried the market, once again supported by stronger iron ore prices. BHP, RIO and FMG
