US equities rebounded overnight after a previous session's selloff. Despite a subdued start, markets rallied towards the close. The S&P 500 gained 0.2%, with the Dow Jones gaining 141 points. The tech sector lagged, tempering overall gains. NASDAQ eked out a modest 0.07% gain. Meanwhile, US Treasury yields dipped as markets awaited signals regarding potential…
The S&P 500 rose 0.23% to settle at 4,954.23.
Nasdaq Composite inched up 0.07% to close at 15,609.00.
Dow jumped 0.37%, to end at 38,521.36.
The new RBA rhythm refreshes the parts Philip Lowe didn’t reach. Catch the knife anyone – The Chinese stock market bounced yesterday. Magnificent Seven or Sensational Six – Tesla is down 38% in six months and is 55% below the 2021 high. Lithium stocks came alive overnight. For a night. Resources drift. Iron ore price downgrades.
And there it is – a sell signal on the CBA a week ahead of results. Right on schedule. India – it doesn’t matter which ETF you buy.
We look at the new RBA Rhythmn today – like it – and buy a new trade in the Ideas Portfolio
ASX 200 slips from highs to end up 34 points at 7616 (+0.5%). Banks pretty much unchanged with CBA up 0.2% and NAB losing 0.2% on a change of CEO. MQG rallied 0.7% with insurers doing well again, QBE up 1.8% and GQG having a good day up 7.4%. FUM numbers helped. REITS recovered GMG…
ASX 200 slips from highs to end up 34 points at 7616 (+0.5%). Banks pretty much unchanged with CBA up 0.2% and NAB losing 0.2% on a change of CEO. MQG rallied 0.7% with insurers doing well again, QBE up 1.8% and GQG having a good day up 7.4%.
The Dow Jones Industrial Average dropped 0.7%. Bond yields up on string data.
The S&P 500 slipped 0.32%.
Nasdaq down 0.2% to end at 15,597.68.
Taking some profits today – the market is topping out as the prospect of rate cuts fades.
We are selling a couple of things today as the volatility “picks up at the top”.
The ASX 200 falls another 44 points to 7582 (-0.6%). Off the lows and relatively unchanged post the RBA decision to keep rates unchanged and a surprising bias to the upside on rates. Growth forecasts were downgraded slightly. Once again banks were steady despite flashing overbought levels, CBA down 1.0%. The Big Bank Basket $198.15…
