SUMMARY Powell behaved. Bond yields liked it. Relax. The NASDAQ steadied. Tuesday's sell-off didn't develop then. Record highs on US, Australian and European equities, Gold and Bitcoin – Normal? The Anatomy of a Crash. Lessons from 1987. Yesterday's Australian GDP number – anaemic growth means rate cuts are coming. The ex-dividends keep coming. BHP and…
ASX 200 finished up 30 points to 7758 (+0.4%) despite the heavy weight of large-cap ex-dividends. Once again, banks leading the way with the Big Bank Basket up to $209.87 (+0.7%). MQG rose 0.8%, and CBA hit record highs up 0.8%. GQG rose 2.8% on FUM news, ASX up 0.8% despite being fined by ASIC.…
Powell doesn’t disturb – Cracks appearing in Big Tech – BHP and RIO ex-dividend – thinking about an FMG One Stock Portfolio instead of BHP.
Was that the Big Tech Top? Far too early to say. And Nvidia was up. Our Futures only down 10 – a lack of Tech helps sometimes. Cynicism over China’s “meaningless” 5% GDP target. Concerns for Tesla’s and Apple’s Chinese sales. Lithium smashed again – Albermarle exploits the froth. Goldman predicts 25% fall in lithium from here. Short covering rally won’t last. Bond yields conming down nicely. Powell speaks 2am Thursday morning. Bitcoin tops out for a day. Lots of ex-dividends again.
ASX 200 flips to close at 7734 up 9 (+0.1%), turning positive as GDP number disappoints and hopes for a rate cut brought forward. Banks once again the drivers of the market, with the Big Bank Basket up to $208.37 (+1.1%). MQG kicked 0.5% higher, ASX up 0.4% and health insurers up. REITs mixed, GMG…
SUMMARY Wall St sells off lead by the NASDAQ. Has the short-term top hit? Daily sell signals from the REIT, consumer discretionary and financial sectors. MQG in cash and coming off the top. No change to LLC and BOE trades. No change to BHP One Stock Portfolio. Markets appearing unimpressed by the latest round of…
US equities fell sharply overnight, pressured by a fall in megacap growth companies like Apple and the chip sector ahead of Powell tomorrow and NFP on Friday. The Dow fell 405 points (-1.04%), down 532 points at worst, the S&P 500 lost 1.02%, and the NASDAQ fell 1.65%. Tech, growth, and momentum sectors were hit…
The Nasdaq Composite pulled back by 1.65%. Apple slips.
Dow lost 1.04%, to 38,585.19.
The S&P 500 dipped 1.02%.
ASX SPI down 10
Sold some GMD yesterday on the gold rush.
Lithium in focus.
Cettire – Good article in AFR.
On the Couch preview with UCP Tech analyst.
