US markets finished lower on Friday night with tech hit the hardest. Dow Jones down 191 points (0.49%), S&P down 0.65% and the NASDAQ down 0.96%. No specific catalyst behind the selling – a loss of momentum, profit taking and bond yields rising the key talking points. Adobe was the biggest loser, falling 13.7% after…
ASX 200 kicked off the week fighting back from early losses to close up 6 at 7676.
Quiet trading ahead of a big week.
ASX 200 kicked off the week fighting back from early losses to close up 6 at 7676. Quiet trading ahead of a big week. Local banks moved from losses to gains with the Big Bank Basket up to $205.68 (0.7%). Insurers better, IAG up 0.5% and SUN ahead by 1.1%. GQG up 0.5% and MFG…
THE WEEK THAT WAS Nasty old week. There was a dearth of research. It seemed that many analysts went off-grid. February is so exhausting, maybe they decided to take a ski trip. Not much fresh news out there. Plenty of sentiment and plenty of red ink in the market. Iron ore collapsed. Sorry, Dr Chalmers,…
Good Morning Everyone. More of the same overnight. The US market is leaking momentum. Not quite falling over. Just not rising as confidently. The "pause" has the permabears predicting something catastrophic (SNAS trade anyone?). When you have been wrong for three solid months, you are bound to get a bit vocal when it looks like…
High PPI numbers see bond yields higher again. Fed Meeting next week – messaging will be “No rate cuts yet” and “No rush”. RBA Meeting next week – Same same – No rush. Some cracks in Big Tech as Nvidia froth blows off and Adobe down 10% after hours. Five EV stocks down more than 80% in 3 years and one going bankrupt. Did Macquarie call the top on banks? Resources popped for a day but back in downtrend today. Lots of lithium newsflow – good and bad. Mostly bad.
ASX 200 fought back from large losses to close down only 43 points at 7670 (-0.6%). ASX 200 off 2.2% for the week. Weakness across the board from the outset, but bargain hunting took over in the afternoon. Banks found some buyers as the day wore on. CBA down 0.6% and WBC down 1.1%, with…
