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.
The ASX 200 finished the week on a positive note, finishing sharply higher up 93 points to 7279 (+1.3%). For the week, the ASX 200 gained 122 points (+1.71%). All sectors finished in the green today. Mining and resource sectors were the top performers, with BHP, RIO and FMG all up over 3%, supported by stronger commodity prices…
US markets finished mixed overnight after inflation results reinforced speculation the Fed will pause its rate hikes. The Dow fell 70 points (-0.2%). Up 121 at best. Down 136 at worst. The S&P 500 and NASDAQ finished near 50-day moving averages, up 0.12% and 0.29%, respectively. US bond yields traded in a narrow range, 2Y…
The CPI number was a non-event. Wondering where the momentum is going to come from now. Poised for a rally that has no catalyst.
CPI a Non-Event. What now with the Ideas Portfolio? Why Australian interest rates have peaked. Some Shocking Predictions from Livewire.
The market didn’t exactly get a shot in the arm from the CPI number but there’s no damage and it may take a couple of days for those big US fund managers to absorb and get going.
The ASX 200 surprised today, up 33 points to 7187 (+0.5%). The SPI Futures this morning were down 5 points after a CPI non-event in the US overnight. We rebounded from the early dip to end near best levels.Jobs data was the main story today, normally ignored by the market. Unemployment remained steady at 3.7%, but 64k jobs…
