Pre-Market Report Monday
SPI Futures down 41 in a Tech led sell-off on Wall St. The Resources held up. We have a busy week of Central Bank Meetings ahead.
SPI Futures down 41 in a Tech led sell-off on Wall St. The Resources held up. We have a busy week of Central Bank Meetings ahead.
SPI Futures down 41 but the Resources held up in the US – the sell off on Wall St was very much a Tech thing.
ACTION TODAY I am adding AWC to the IDEAS PORTFOLIO on the open. SUMMARY FOMC, Bank of England and Bank of Japan Meetings this week. If rates were coming down, why are bond yields going up? Resources held up OK in the US. Hoping for them to do the same today. Tech sell-off in the…
The ASX 200 began the week on a negative note, trading lower all day, down 49 points to 7230 (-0.7%), giving up some of Friday’s gains. SPI Futures were down 41 this morning. ASX Index changes came into effect today. All sectors finished in the red. Tech stocks weighed heaviest on the index tracking the NASDAQ overnight…
The ASX 200 began the week on a negative note, trading lower all day, down 49 points to 7230 (-0.7%), giving up some of Friday’s gains. SPI Futures were down 41 this morning. ASX Index changes came into effect today. All sectors finished in the red. Tech stocks weighed heaviest on the index tracking the NASDAQ overnight and were further pressured by higher bond yields, XRO down 4.1%, WTC off 2.5% and SQ2 down 1.7%. All-Tech Index down 2.0%. Iron ore giants showed resilience, BHP and RIO finishing up. The strength strecthed beyond iron ore today to S32 up 0.9% and new trade AWC up 1.5%. Gold prices held steady near six-mo
We are 4.62% below the post-pandemic high and up 1.14% from the pre-pandemic high. We've spent three years and seven months going up 1.14%. No wonder the Selfwealth share price is down from 80c to 15c (see below). I see SWF's share price as a barometer of stock market enthusiasm. SWF is a short-term stock…
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Headlines include: Dow finishes up 1% on soft landing hopes. ASX to leap, S&P 500 rallies broadly, China data pending – AFR. Wall Street rallies, dollar surges as data cements Fed pause bets. Wall Street ends higher on economic data; Arm soars in debut. Ebullient markets nervously eye China data dump.
SUMMARY Futures up 88. The Ideas Portfolio will be looking a lot better today. Big rally in iron ore stocks overnight is perfect for us. BHP and RIO up 4% in the US. JP Morgan upgraded RIO and Anglo American by 10% on the back of the iron ore price. Other brokers will be doing…
The market flying today led by Resources and particularly the iron ore stocks. We have timed this resources recovery nicely. We look at Five big stocks that are oversold.