ASX 200 fell 2 points to 7496 in quiet trade fighting back from early small losses. Banks solid but unspectacular, the Big Bank Basket up to $193.85 (0.1%). Financials followed suit, MQG up 1.0% on Blackrock infrastructure deal and REITs doing ok, GMG up 0.6% and MGR rising 0.5%. Insurers better. Healthcare is struggling as…
THE WEEK THAT WAS Not a 'real week' as volumes remain light and company news remains sparse. Next week things begin in earnest. Heading into US reporting season and, of course, our own reporting season in February. Friday night saw a US PPI come in better than expected and early bank results were promising. Good…
US equity markets closed near the flat line overnight, as the market digested the latest CPI report, with Headline CPI exceeding expectations, rising to 3.4%. The Dow closed up 15 points (+0.04%), whipsawing from lows of 271 points down. Both the S&P 500 and NASDAQ were little changed, the S&P 500 briefly surpassed its record…
SUMMARY
• US CPI blip fails to make a dent.
• ASX 200 still looks ok.Just.
• JLG going well.
• What are consumer stocks telling us?
For those who missed it, see Wednesday's Technical Scans refresher HERE. TECHNICAL SUMMARY Hang Seng Index rises 1.3% yesterday off its 52-week low. FANG EFT hits an all-time high. EMR continues to hit all-time highs, outperforming the rest of the gold sector. NEU overbought on a weekly basis. IGO oversold on a weekly basis. OBSERVATIONS Hang…
ASX 200 limped into the weekend down 8 points to 7498 to finish the week relatively unchanged. Quiet with low volumes again. US PPI and Chinese CPI in focus. Banks 'sagged' with the Big Bank Basket down to $193.63(-0.1%). NAB down 0.2% and ANZ falling 0.6%. MQG slid 0.2%, with insurers a little better, SUN…
