MARCUS TAKE SUMMARY Waiting for Nvidia results tomorrow morning after US market close. Good results will be OK, OK results will be bad and bad results will be disastrous. There’s nothing suggesting the NASDAQ is a buy – can Nvidia change that? Jackson Hole still in focus. Might be an anti-climax. Risk of Hawkishness. Chinese…
Wall Street ended mostly lower overnight, ending just off worst levels. Dow down 175 points (-0.51%).
ASX 200 rose 27 points to 7148 (0.4%), bouncing off the important 7100 level.
SUMMARY BHP results this morning – good or bad, they need China sentiment to improve. 7 brokers downgrade Chinese GDP. Market ignoring a 16-year high on bond yields. Nvidia was up 8.5% overnight – a lot riding on their results on Thursday. Powell speaks on Friday – may not say much, says Goldman. Bit of…
Headline summary for BHP Results out this morning. Profit down 37%. Below consensus. Profits of US$13.4 billion compared to expectations of US$13.76 billion. Small misses on EPS and Dividend. Underlying EBITDA of iron ore operations -24%. Outlook statement says inflation impacts (higher costs) will continue to impact 2024. Hardly upbeat, prudently conservative. Commodity prices are…
WBC Broker stuff after results yesterday – still got a few more to come in.
ASX 200 rose 6 points to 7122 (0.1%) as results continue to dominate. ‘Do not disappoint’ is the mantra.
