Wall Street finished mixed overnight. The Dow Jones finished 168 points lower (-0.48%). Dow at best up 180 points. Dow at worst down 170 points. S&P 500 snapped a four-day winning streak, down 0.16%, while the NASDAQ rose 0.11% up for its fifth straight session. All three major US indices were down in August, Dow…
AFR – ASX to drop, Wall Street mixed as US jobs data awaited. US yields dip after inflation, jobless data; market awaits payrolls.
Fed’s Bostic says U.S. interest rates are high enough. Core PCE price index rose 0.2% v +0.2% last month; up 4.2% v 4.1% YonY. Dollar rises.
July US consumer spending (two thirds of GDP) accelerates 0.8% in July. Most in six months.
Reduced risk of recession but spending unsustainable.
Jobs numbers set to kill or fill our recent hopes for a peak on rates. End of the results season – Hooray. What an analyst goes through. Retirement Today – Timing the Market – A good game. US closed on Monday for the Labor Day holiday. Some dividends coming up include BHP, FMG, MIN. And BEN. Henry away for three weeks – the PRE-MARKET podcast has a dazzling new host (Me!).
Bit of a pause today. BHP down a touch in the US and the recent rally. One strategist noting that the Chineses market has stopped responding to bad news – flogged to death already. Even the $7bn loss in six months from property stock Country Garden didn’t upset it.
The ASX 200 finished out the week down 27 points to 7278 (-0.4%) but up 2.29% for the week as reporting season wraps up.
US markets extended gains for a fourth straight session following more economic data pointing to moderation, cementing bets the Fed is approaching the end of its rate hikes. Dow up 38 points (+0.11%). Dow at best up 173 points. Dow at worst down 41 points. S&P 500 breached 4,500, up 0.54% led by tech mega-caps,…
SUMMARY The risk on rally is alive for another day. More weak economic numbers helping overnight. Inflation number tonight. Jobs numbers Friday. US closed Monday. Bought FANG, LNAS and BHP yesterday. Just a trade at this point. Hoping the rally is not just an end-of-month thing. Strategy Portfolio still in cash. Good CPI number yesterday…
US markets extended gains for a fourth straight session.
The risk on rally is alive for another day. More weak economic numbers helping overnight. Inflation number tonight. Jobs numbers Friday. US closed Monday.
Bought FANG, LNAS and BHP yesterday. Just a trade at this point. Hoping the rally is not just an end-of-month thing. Strategy Portfolio still in cash.
Good CPI number yesterday – RBA Meeting on Tuesday. Last trading day of the month. Last day of the results season. Should we beware The Ides of September? Seasonal chart in today.
ASX 200 moved slightly higher, up 8 points to 7305 (+0.1%), despite a headwind of companies trading ex-dividend.
