Henry’s Take – Pause and Caution
SUMMARY
Caution: Central Banks in focus.
Is CGC a easy tap in?
The Sahm Rule for a US Recession.
Chemist Warehouse – Yes or No?
Pre-Market Report
Wall Street kicked off the week with modest gains overnight ahead of key economic data and Fed interest rate decision. Fed decision unlikely to be controversial with a Hold expected but the forecasts, dot plot, and press conference that accompany it may well be. The Dow finished near session highs, up 157 points (+0.43%). Up…
Technical Scans
RIO and FMG hit 52-week highs.
Gold topping out. NST still in uptrend.
WES hits a 52-week high.
JBH hits a 52-week high.
Strategy Take
US market behaves again ahead of CPI tonight.
Michele Bullock gives a speech in Sydney this morning.
Aussie dollar rally has stalled. FMG, RIO hit 52-week highs.
Lithium down in the US. Selling PLS from the Ideas Portfolio on the open.
No changes to Strategy, Growth or Income Portfolios.
End of Day Report Tuesday
ASX 200 pushed on to a three-month high on a low volume day. Up 36 points to 7235 (+0.5%). Banks up, with CBA up 0.4% and ANZ rallying 0.8%, with the Big Bank Basket up to $183.67 (+0.5%). MQG up 0.4%, with insurers slightly weaker, QBE down 0.2%. REITs firmed, GMG up 0.7% and VCX…
End of Day Report
The ASX 200 rose only 4 points to 7199 (0.1%) after a promising start was ambushed by resource stocks falling.