SUMMARY Stock of the Day – Azure Minerals (AZS) Huge run. Slightly vindicated in MP1.Phew. The Magnificent Seven Reboot on Nasdaq coming. More from Dr Jones on Critical Minerals. Much more. On The Call today talking ten stocks. Another good video channel for rock watchers. SMALL CAP PORTFOLIO 2.45pm Update Nothing exciting. Caution ahead of…
US markets closed higher overnight, extending gains for the second session and ending just off best levels after rallying the last hour of trade.
SUMMARY NASDAQ and Tech based ETFs (FANG, NDQ, SEMI, DRIV, CLDD, ACDC) still overbought. S&P 500 ETF overbought as well. Overbought stocks – MP1, NCK, TPW and the usual suspects LRS, IAG, MMS, XRO, AGL. Oversold stocks – CSL, AMC, TWE. Buy signals – The Dogs are barking – BOQ, PMV, IPL. Short term buy…
SUMMARY This CPI number had better be good – the market is betting on it. Does it know something? China support for real-estate sector helps us a bit. Our bond yields dropped yesterday. Gold interestingly bottoming. US results coming. Australian results calendar. BULLETS A bit of volatility running into the CPI numbers. Having lost 121…
This is the Australian Results Calendar for the upcoming results season. Before you rely on this: Errors and Omissions Excepted. We produce this on a best-efforts basis. Do not rely on it as gospel. We take no responsibility for you if these dates are inaccurate. Some dates are a guess, sourced from Reuters but even…
A bit of volatility running into the CPI numbers. This CPI number tonight had better be good, but judging from the drop in bond yields running into tonight the bond market obviously thinks it knows. Let’s not waste any more breath, I’m not taking any bets ahead of it, although experience tells you that the bond market vibe shouldn’t be ignored.
MARKET AT MIDDAY The ASX 200 is up 29 points to 7138 (+0.4%) ahead of the release of the US CPI report late tonight. The ASX 200 opened 0.7% higher, following gains on Wall Street overnight. Energy and mining sectors were the top performers, with Woodside Energy (WDS) +2.4%, Santos (STO) +1%, and Yancoal (YAL) +1.2% leading the way. Major mining companies also saw gains, while gold…
ASX 200 FIVE DAY CHART ASX 200 closed up 27 points to 7136 (+0.4%) in its second session of gains boosted by mining and energy stocks. Energy stocks tracking a rise in oil prices, with WTI crude futures hovering at their highest levels in over two months. WDS +2.7%, YAL +1.1%, and WHC +1.1%. Heavyweight…
Not the best list of headlines today but the market doesn’t care, and that’s a bit of a theme – see below.
Some of the headlines:
US corporate earnings season unlikely to fuel fresh gains in the stock market.
S&P 500 braces for profit warnings.
Rate fears accelerate.
Fed’s QT program to kick in in coming months.
Eurozone sentiment weakens for a fifth consecutive month.
Deflationary spiral risk in China. This comes after the Chinese CPI number of 0% yesterday and PPI numbers showing the biggest decline since 2015. It is a reflection of the weak Chinese economy which doesn’t wash well for resources stocks. The pressure is on for the PBoC to stimulate the economy, but the
ASX 200 closed up 105 points to 7109 (+1.5%), lifted by mining and gold stocks snapping a four-day losing streak with all sectors in positive territory. Gold miners outperformed today as gold prices firmed slightly overnight, and the US dollar extended a small retreat. EVN +4.6%, NST +3.1%, and NCM +1.8%. Mining trio BHP, RIO…
