Pre-Market Podcast Wednesday
ASX futures down 12 points or 0.17% to 7233 near 7am AEST. Global stock market trading was light overnight, US markets closed for Independence Day.
Pre-Market Report Wednesday
Global stock market trading was light overnight, with US markets closed for the Independence Day holiday. European markets muted in thin trading overnight, with indices ending around session lows. STOXX 50 -0.2% FTSE -0.1% CAC -0.2%, and DAX -0.3%. US equity futures flat with markets closed. Asian markets mixed overnight. Hang Seng led gains in China,…
Technical Scans Wednesday
SUMMARY With Wall Street closed many of the signals are unchanged. NASDAQ and S&P 500 at 52 week highs and both overbought and well as their ETFs – NDQ, HNDQ, IVV, IOO, SPY. Technology ETFs overbought – ROBO, RBTX, FANG, SEMI. FANG at a 52 week high. Bear market ETFs oversold – BBUS, SNAS. Oversold…
Marcus Take Wednesday
SUMMARY Wall St closed – not much to go on. The RBA pause – Short term sugar hit. Big Tech – how overvalued are they? Chinese PMI numbers disappoint. STRATEGY PORTFOLIO Nothing to report – I have to say, I feel like it's a matter of "When do we sell the US" rather than "What…
Midday Report Wednesday
MARKET AT MIDDAY The ASX 200 is down 25 points to 7254 (-0.4%), sliding lower after yesterday’s gain as the RBA held rates steady at 4.1%. Banks hit the hardest after gaining yesterday, The Big Bank Basket down 1% to $173.13. REITS gaining on the interest rate halt, GMG up 0.6% and MGR up 0.2%. Aussie bond creeping up post RBA decision. 10-Year up 3bps and 2-Year up 1bps. Dow futures down 31 points.…
Members Podcast Wednesday
Yesterday’s RBA rate pause could have been a mistake. Coming into focus now is the quarterly CPI number on July 26. Everyone seems to have forgotten the March quarter number (7%) and the June quarter number is still going to be 6% plus, which is still well above the RBA’s target.
End Of Day Report Wednesday
ASX 200 closed down 26 points to 7253 (-0.4%), letting go of yesterday’s gains, snapping a three-day advance. Financials weighed on the market, with significant losses in the banking sector. NAB -0.8% CBA -0.5%, ANZ -0.8% and WBC -0.7%. Big Bank Basket down to $173.81 (-0.6%). Resources and base metals were mixed, with commodity prices…
End Of Day Podcast Wednesday
ASX 200 closed down 26 points to 7253 (-0.4%), letting go of yesterday’s gains, snapping a three-day advance.
RBA Pauses
The RBA has left rates unchanged. Looks like they have taken on board last week's lower than expected CPI number – theire hawkishness appears to have been significantly tempered. They say inflation is only "slightly" higher than expected and due to temporary factors. Goodness – a lot less hawkish than expected. Runs against the Fed…
End Of Day Report Tuesday
The ASX 200 rallied 33 points to 7279 (+0.5%), bouncing back from 7,232 lows following the RBA’s decision to hold rates at 4.1%. The Aussie dollar fell 0.2% to 66.58c, and the 2Y yield was virtually unchanged, up 1bps. Gold miners are happy, buoyed by stronger bullion prices. EVN up 1.8%, NST gained 1.6%, NCM…