The ASX 200 closed flat, down 5 points to 7299 (-0.1%), after clocking its best weekly gain since November amid hopes the RBA Meeting Minutes tomorrow may hint to more clues for the interest rate trajectory and the RBA is nearing the end of its tightening cycle. Healthcare led the market today, helping offset losses…
A solid week for all markets last week on the back of a lower-than-expected CPI number in the US, followed by a similarly lower-than-expected PPI number (lowest in 3 years). The ASX 200 was up 261 points, taking it up 3.70% with a close above 7300. The ASX 200 is 4.5% away from the top hit four times in the last two years. It’s quite some resistance level. The Dow Jones put on 774 points (+2.29% – but it’s a rubbish index), and the S&P 500 and NASDAQ put on 2.42% and 3.31% as Tech responded to lower bond yields.
The main event this week is the start of the US Q2 Results Calendar. Chinese GDP numbers on Monday are a focus – this will kick off a Chinese economic trajectory debate and provoke stimulus chatter. RBA Meeting Minutes Tuesday. Michele Bullock takes over in September – there are two more RBA Meetings before that. The appointment is seen as Dovish (less likely to raise rates). Australia also has jobs numbers on Wednesday.
These are out Weekly charts covering the Markets and Sectors – they give you a feel for the “Tide” and the undercurrents.
These are the tables showing you what happened in the MArket min the last week – it includes ETF performance as well.
All of last week’s Members Podcasts in one place
BULLETS The Economic Clock is turning. About 6:30? Ignore the Clock Hand in the graphic. US PPI numbers confirm the CPI inflation trend. Lowest number in nearly three years. “One and stop” is the new FOMC assumption. Tech going harder than the rest of the market on the bond yield drop. The Australian All Tech…
ASX 200 closed up 56 points to 7303 (+0.8%) for a 3.7% gain for the week recovering last week’s losses and then some, as bond yields slid and the Aussie dollar strengthened. Everything was up with the exception of healthcare, weighed down by losses in CSL and RMD, down 1.3% and 1.2%. Tech and miners driving…
