ASX 200 fell 1 point to 7683 (-0.01%) after a CPI gut punch stole the momentum. Inflation is once again higher than expected, and insurance costs and education continue to pressure the upside. Banks again led the charge higher, with the Big Bank Basket up to $203.73 (+0.4%). WBC the standout up 0.9% despite news…
Focus on Australian CPI at 11:30am. Selling SNAS trade – downtrend loses traction. Good start to Tech results. Tesla up 11.3% after hours (is Tesla a Big Tech?). Meta, Microsoft and Alphabet results to come this week. US PCE Price Index number on Friday the main signpost. Citi says buy the dip. UBS says Big Tech profit growth to collapse. Some Stats on corrections. Education Corner – Ten Investors – which one are you?
The CPI number today has come in higher than expected. We’ve closed our SNAS trade – best stand back for the moment and await Us results and the US PCE price index number
SUMMARY Sold both gold exposures yesterday. NST for a nice 8.6% profit. BGL in contrast a 7.1% loss. It gapped well below its stop loss on the open. SNAS set to drop 3-4% so taking a profit and selling on the open. Reactions to the upcoming US results could send the market either way. Difficult not to get…
Sold all the GEAR.
Gold drops hard.
DEG quarterly. Gold shopping list.
Federal Budget in focus.
US earnings season.
Members Meet Friday in Perth
SUMMARY Gold sold off yesterday. Opening update: Gold belted. Both BGL and NST below stop losses. Selling both. SNAS gains yesterday weren’t as big as expected. NASDAQ up 1% overnight. Stop loss increased to $1.84. Oil futures down overnight. BPT holding up relatively well. MQG prints another daily buy signal. Last week it was followed by…
