US equities ended mixed overnight. The NASDAQ rallied 1.26%, buoyed by gains in chip stocks and Nvidia, up 6.8% bouncing back from a three-session sell-off. The S&P 500 rose 0.39%, snapping a three-day losing streak, while the Dow tumbled 299 points (-0.76%). Up 12 points at best. Down 414 points at worst. US Treasury yields…
ASX 200 tumbled 56 points to 7783 (-0.7%), giving back some of yesterday’s gains following hotter-than-expected inflation data. Inflation rose 4.0% YonY in May, faster than April's 3.6% and above consensus of 3.8%. Aussie dollar jumped 0.6% to 66.86c, hitting a two-week high, and the 10Y yield and 2Y yields jumped 10bp and 18bp. Most…
Another floppy start.. US equities ended mixed overnight. The NASDAQ rallied 1.26%, buoyed by gains in chip stocks and Nvidia, up 6.8% bouncing back from a three-session sell-off. The S&P 500 rose 0.39%, snapping a three-day losing streak, while the Dow tumbled 299 points (-0.76%). Up 12 points at best. Down 414 points at worst. US Treasury yields finished near flat line. During trade, the yield curve inversion between the 2Y and 10Y notes deepened to more than 50bps for the first time this year before reversing after strong demand at the 2Y auction nudged that yield off its high. In economics, the US consumer confidence index eased in June amid worries about the economic outlook.
PORTFOLIO CHANGES Selling all uranium exposure: BOE, EL8, DYL. Selling all lithium exposure: LRS, LTR and PMT. SUMMARY Cutting losses in uranium and lithium in Henry's Portfolio today. New CFO at HCH. KAR coming back to life. Lithium and Uranium pummeled… again. Announcements from DEG and BOE. SMALL CAP PORTFOLIO Boss Energy (BOE) – Positive drill…
SUMMARY EOS escapes yesterday’s sell-off. Up 3.2%. No change. AD8 fades from a positive open. No sell signals but is struggling to print a short-term EMA buy signal. No change to TWE, needs a bull market, not this high volatility environment. Oil and Gold caught up in the big energy and commodities sell-off. Nowhere to…
Chips gone cold – Nvidia down 16.1% in 3 days – a Blip or a Top? Just a Blip for now. Other chip stocks also deflating. Rest of the market sailing along. Sell signal on the NASDAQ.
The ASX200 has finished the day up 105 points (1.36%), bouncing back strongly from yesterday’s sell-off. The Energy sector went from worst to best following the overnight oil price rise and bargain hunters circling in. WDS up 3.7%, its best session of the year and KAR up 2.3%. Real Estate was next as bond yields…
Wall Street ended mixed overnight, losing traction after Nvidia fell 6.7% extending a three-day rout. Raising speculation that the AI rally powering the bull market is taking a breather. The Dow kicked off the week rallying to a one-month high, though off best levels, up 261 points (+0.67%). Up 421 points at best. The S&P 500 and…
The market is having a good day but we have decided discretion is the better part of valour in Big Tech
Chips going cold – Nvidia down 16.1% in three days. Big Tech Blip or Big Tech Top? Stepping back anyway. SELLING HNDQ and FANG in the Strategy Portfolio. Bonds behaving – Inflation numbers coming. Paladin acquisition. Small Caps Portfolio – Taking profits in DRO. ResMed research still hopeful. Education Corner – Having trouble selling?
