Pre-market Podcast
SPI Futures up 7 but a strong performance from both Big Tech , the iron ore price, the Resources in Europe and the A$ suggest we are on the right side of the ledger today.
Henrys Take
From Reuters yesterday – Sept 11 (Reuters) – Australian billionaire Gina Rinehart's Hancock Prospecting said on Monday it has picked up a stake in lithium miner Liontown Resources (LTR) which recently accepted a buyout bid from Albemarle. Hancock said it has become a "substantial shareholder" of 7.72% of the ordinary shares in Liontown. Liontown's shares…
Pre-Market Report Tuesday
US markets closed higher overnight, led by a rally in tech stocks ahead of a busy week. The Dow Jones rose 87 points, trading higher all day up 208 points at best. The S&P 500 and Nasdaq ended near best levels, up 0.67% and 1.14%, respectively, ending above the 50-day moving average after slipping below…
Marcus Take Tuesday – Looking Good
Iron ore up, Resources up, A$ up 1%, US$ down – just what we wanted. But it gets better – NASDAQ up over 1%. Tesla transforms into an AI behemoth thanks to Morgan Stanley. Chinese economy through the worst? Anticipating a good CPI number. 80% of Economists think rates will be lower next year.
Members Podcast Tuesday – Waiting for the CPI tomorrow
We have slipped 36 points at worst today as we wait for the US CPI number tomorrow
End of Day Report Tuesday
ASX 200 closed up 15 points to 7207 (+0.2%) in a choppy day of trade. The ASX 200 fell 36.5 points in early trade before bouncing back following. Better-than-expected NAB Business Confidence data may have helped but again, it was a resources rally that turned the tide. The ASX 200 is rallying into the CPI numbers tomorrow night helped…
END OF DAY Podcast Tuesday
ASX 200 closed up 15 points to 7207 (+0.2%) in a choppy day of trade. The ASX 200 fell 36.5 points in early trade before bouncing back following. Better-than-expected NAB Business Confidence data may have helped but again, it was a resources rally that turned the tide. The ASX 200 is rallying into the CPI numbers tomorrow night helped by a mildly more positive vibe about China. Miners carried the market, once again supported by stronger iron ore prices. BHP, RIO and FMG
Members Podcast
Very quiet day – no trend, no action. We’re hoping the CPI number on Wednesday kicks something off but its wishful thinking. We are in the seasonally dullest 4 months of the year and they are certainty living up to that reputation this week.
End of Day Report Monday
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…