TECHNICAL SUMMARY Finally buy signals on CSL and RMD from oversold levels. Healthcare sector has a daily buy signal. ORG finally a sell signal after a great rally. Host of Bond related ETFs oversold again as bond yields pop. AWC – weekly buy signal. Same list of quality large stocks still oversold – CSL, TCL,…
Our market down 87 and the jobs numbers not helping showing a tight labour market. Bond yields, poor US Results and Middle East tension doing us in.
A quick update from Northern Star –Â NST is up 3.5% today after posting well received Q3 activities report this morning. We hold in the Idea’s portfolio and is performing well (the gold price rose overnight again on more Middle East conflict concerns).
ASX 200 dropped 96 points to 6982 (1.4%) as a broad sell-off hit the market as bond yields and Middle East conflict weighed on risk-takers. Big Banks down in the dumps, with CBA off 1.6% and the Big Bank Basket falling to $175.68 (-1.4%). MQG fell hard on US investment bank sell-off, down 2.7%. Insurers…
ASX 200 dropped 96 points to 6982 (1.4%) as a broad sell-off hit the market as bond yields and Middle East conflict weighed on risk-takers. Big Banks down in the dumps, with CBA off 1.6% and the Big Bank Basket falling to $175.68 (-1.4%).
Wall Street’s major indexes finished mixed overnight, losing earlier gains to end near flatline amid rising bond yields and renewed fears of higher for longer after higher-than-expected retail sales data. The Dow closed marginally in the green, up 13 points (+0.04%), up 163 points at best and down 130 points at worst. The S&P 500 ended slightly lower, down 0.01%, while the NASDAQ lost 0.25%, weighed down by heavy losses in chip companies after President Biden said it planned to halt shipments of advanced AI chips to China, Nvidia down 4.7%.
ASX 200 – Recent rally has failed to break the downtrend. Qantas (QAN) – In a sentiment hole and still going down. One day it’ll bounce. FMG – Three brokers with sell recommendations yesterday but the share price still goes up. HUB – FUM numbers see it hit all-time highs. Healthcare sector – Oversold and no end in sight as GLP-1 wreaks havoc on CSL and RMD.
SUMMARY Bond yields higher and higher. Recent ASX 200 index rally failing to break the downtrend. Can’t buy into this lack of trend. BHP production numbers. Telstra AGM – now de-risked for a few months. TPG Telecom bid talk – we look at that. QUICKIES Bond yields roofing it here and in the US overnight.…
TPG popped 5.6% yesterday on news Vocus Group had commenced debt talks for the acquisition of TPG’s Fibre assets. Macquarie and Aware Super (the owners), are looking to finance ~$6bn in debt for their non-binding indicative bid announced at the start of August.
Our market losing ground slowly today as bond yields spike – Seeing PermaBears out and about highlighting the US debt and deficit
