US equities finished higher overnight after a choppy session following the release of FOMC meeting minutes, which showed caution among policymakers, fuelling bets that rates would stay steady. The Dow edged higher, up 66 points (+0.19%). Up 143 at best. Down 127 at worst. The S&P 500 rose for a fourth straight session, up 0.43%, and the NASDAQ rose 0.71%
SMALL CAP PORTFOLIO 3.00pm Updates Nothing done today. Selected lithium stocks recovering from oversold levels. PMT, CXO, AZS to name a few. Market impetus running out as US CPI approaches. Volumes in small caps remain low. CSL a major drag as US Med tech under pressure on new kidney trial results using the ‘miracle’ weight…
Buy signals on the All Ordinaries, ASX 200, S&P 500 and Nasdaq are now 4 days old. There are now MACD buy signals as well. Telstra (TLS) weekly buy signal. Again. Not often traded by Australians – but there’s a buy signal on SQ2. Qantas (QAN), anyone?. Very early short-term buy signal after dropping from 670c to 490c over the Qatar debacle (not their fault).
Our market up again – we are four days into this rally with the US CPI number to worry about tonight
The Doves are still flapping – we are four days into this market rally
CBA had its AGM yesterday – the share price dropped 0.31% (hardly changed), with one broker saying there was "No new news". A fairly quiet affair. Just a lot of motherhood comments about assisting the cost of living pressures, holding a strong balance sheet, and remaining well placed heading into a lower growth environment. There…
CSL fell 6.3% today continuing its nasty downtrend, as the GLP-1 (obesity drugs) juggernaut continues to smash through the healthcare sector. It has already destroyed ResMed (RMD) and yesterday their five year study into the GLP-1 efficacy in treating chronic kidney disease and Type 2 diabetes was halted early because the results were so good. It is…
ASX 200 limped to a 3-point gain to 7091 (+0.04%) ahead of US CPI. Six sessions in a row. Just. CSL was the biggest drag on the index as positive drug trials in the US marred the outlook for medical companies. The stock fell 6.3%, RMD down 5.3% on the same effect. Banks once again…
ASX 200 limped to a 3-point gain to 7091 (0.04%) ahead of US CPI. Six sessions in a row. Just. CSL was the biggest drag on the index as positive drug trials in US marred outlook for medical companies. The stock fell 6,3%, RMD down 5.3% on same effect.
ASX 200 rose another 48 points to 7088 (+0.7%) up for a fifth consecutive session, bouncing back from 6,890 levels just last Wednesday. Almost all sectors finished higher. Consumer discretionary is the top performing sector today as RBA rate hike expectations tapered off, ALL up 1.1%, DMP up 2.9%, and TLC gained 1.3%. Iron ore got a…
