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…
The NASDAQ dropped 1.65% overnight. Lithium stocks cratered again. Bitcoin even peaked. We have gone “Risk Off” for a day.
Following a member request and it printing a daily buy signal on Monday we are taking a look at Corporate Travel Management (CTD). The company reported two weeks ago and got whacked 20%. Earnings rose by 96%, profit rose by 162% and the dividend rose by 183% to 17c (unfranked). Solid numbers driven by client/market…
ASX 200 flips to close at 7734 up 9 (+0.1%), turning positive as GDP number disappoints and hopes for a rate cut brought forward. Banks once again the drivers of the market, with the Big Bank Basket up to $208.37 (+1.1%). MQG kicked 0.5% higher, ASX up 0.4% and health insurers up. REITs mixed, GMG…
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.
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…
Macquarie Technology Group (MAQ) Results – Held in the Growth Portfolio. Rose 9% after reporting after the bell last Thursday and is now +12% since. Highlights include 18 consecutive HY earnings growth. Up 5% in this period attributed to strong growth in cloud and cyber megatrends. Net profit up 74%, beating expectations due primarily to…
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…
