In a surprising turn of events, the ASX 200 reversed earlier losses and ended the day on a high note, closing up 36 points at 7192 (+0.5%), snapping a four-day losing streak. The iron ore price (up 2.4%) drove a recovery in Resources and the Aussie dollar with only some Chinese Credit numbers (more credit lending than…
In a surprising turn of events, the ASX 200 reversed earlier losses and ended the day on a high note, closing up 36 points at 7192 (+0.5%), snapping a four-day losing streak. The iron ore price (up 2.4%) drove a recovery in Resources and the Aussie dollar with only some Chinese Credit numbers (more credit lending than expected) to blame with increased borrowing from local governments to fund infrastructure. After the Chinese CPI numbers at the weekend (they rose instead of fell) one economist says “Many data we’re seeing now shows that the economy’s slump may be slowing in the coming months”. T
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I was complaining yesterday that there was nothing going on. This morning the SPI Futures are up 1. Still nothing going on. In fact I think the Reuters journalists that write the market reports haven’t bothered today – must be Rugby fans. Dow Jones up 76. It was up 127 at best and down 27…
US markets closed mixed overnight. The Dow edged higher 58 points (+0.17%) supported by a 3.24% jump in shares of Intel. Dow at best up 118 points. Dow at worst 92 points. The Nasdaq fell 0.89% weighed down by Apple, down 2.9% falling for a second consecutive day, wiping out $190bn in value over the…
LTR holding above 300c as Gina Reinhart is thought to be taking her stake from 4.9% to 10% to get a seat at the table for a higher bid or maybe as a Trojan Horse for a Mineral Resources play – The Australian headline today – "Talk Gina Rinehart has bought into Liontown Resources suggests…
ASX to edge up, Apple drags Wall Street lower – AFR – Stocks fall with Apple, dollar rises after U.S. data. S&P, Nasdaq fall as Apple drags, jobless claims data fuels rate jitters. China’s widening iPhone curbs roil US technology sector. Apple down 8.65% in three days, 2.9% overnight, but 2.3% off its low. Apple’s high valuation exposes it to China’s whims.
SUMMARY The Apple Ban – moment or trend? I think it's a moment. Macquarie aftermath – still not buying. Good vibes on rates in the States. US CPI number next week. MIN ex-dividend. 10 Things That Waste your Time. A bit in the PRE-MARKET PODCAST today. DIARY No Australian data today. Japan Q4 GDP,…
The ASX 200 flops again down another 34 points after an 87 point fall yesterday and despite the Futures being up 7 this morning. Resources lead the sell-off. Nothing much going on.
The ASX fell 14 points to 7157 (-0.2%) in an uneventful day of trade. For the week, the ASX 200 fell 121 points (1.67%). Strong economic data this week fuelled the higher-for-longer mantra, driving yields higher and market sentiment down. Most sectors are finished down today. Defensive sectors outperform, with Utility and Healthcare stocks the top performers. CSL +1.0%,…
