Member’s Podcast Friday October 6
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Marcus Take
SUMMARY For Whom the Bell Tolls – The bell has rung at the bottom for one day, it's not enough. But it's interesting. See the ASX 200 chart. Same levels as the March low. Coming up – Jobs number tonight. CPI number next week. Fed Minutes and the US results season. Some big quality industrials…
End of Day Report Friday
ASX 200 rose 29 points to 6954 (+0.4%) ahead of NFPs tonight. Banks led the charge higher with the Big Bank Basket at $175.74 (+1.2%). CBA up 1.1%, with WBC the standout, up 2.1%. Insurers rallied, QBE up 2.7%, and MQG doing better up 0.5%, but MFG fell 18.5% on lower FUM numbers again. REITs…
End of Day Podcast Friday
ASX 200 rose 29 points to 6954 (+0.4%) ahead of NFPs tonight. Banks led the charge higher with the Big Bank Basket at $175.74 (+1.2%). CBA up 1.1%, with WBC the standout, up 2.1%. Insurers rallied, QBE up 2.7%, and MQG doing better up 0.5%, but MFG fell 18.5% on lower FUM numbers again.
Pre-Market Report Thursday
Dow Jones up 127 points (0.39%) as weaker than expected ADP Employment numbers and Services PMI numbers took the pressure off bond yields as did a 5% fall in the oil price. Markets are bouncing from oversold conditions. The S&P rose 0.81% and the NASDAQ up 1.35% as bond yields retreated after hitting multi-year highs…
Henry’s Take – Dazed and Confused?
SUMMARY Shrinking in uncertain times. Gina buys more LTR. Inevitably thoughts turn to days of yore and Octobers past. Confused and happy to be sidelined for now. Some interesting chart correlations. Will 6900 be the support level? On The Call yesterday talking some interesting stocks, including LTR and PMT. SMALL CAP PORTFOLIO 2.45pm Updates Nothing…
Pre-Market Podcast Thursday
U.S. stocks closed higher on Wednesday.
The Dow Jones Industrial Average added 127.17 points, or 0.4%, to close at 33,129.55. The S&P 500 gained 0.81% at 4,263.75. The Nasdaq Composite rose 1.35% at 13,236.01.
Tesla up 5.9% and Amazon, Google, and Microsoft all up around 2%. Growth in US services sector slowed along with US private payrolls increasing less than expected. Equity markets viewed these results as reducing the chance of a Fed rate rise however all eyes remain on the key US jobs number expected Friday night (our time).
Marcus Take – A good day not a market bottom
A day on Bond Market Relief. Does one good day does not bottom the market? Is that the top of the oil price? Maybe. Is that the top for inflation? Possibly.
Is that the bottom for the Equity market? Unlikely. Still in cash.
Members Podcast Thursday – A bit of relief – not much
ASX 200 was up but has faded. A bit of Bond market relief kicked off by a 5% fall in the oil price has helped but not much.
End of Day Report Thursday
ASX 200 shrugged off early indifference to push off the 6900 level to close at 6925, up 35 points (+0.5%). Banks and industrials leading the bounce from oversold levels. The Big Bank Basket rose to $173.59 (+0.9%). CBA up 0.9%, and NAB up 0.7%. Insurers steadied, fund managers found their feet, and MQG up 1.1%.…