ASX 200 closed down 2 points to 7195, sinking from early gains after Retail sales show signs of resistance..
US equities finished mixed overnight. Blue chip Dow Jones closed down 72 points (-0.22), weighed down by healthcare stocks. Dow at worst down 171 points. S&P 500 was essentially unchanged, down 0.04%, and the NASDAQ gained 0.27% after Powell reiterated that interest rates would rise further this year and that he did not see inflation falling to its target rate this year or next year. US treasuries softened ahead of Friday’s PCE price index results, and the greenback strengthened on Powell’s tough talk. Among stocks, Nvidia fell 1.8% after the US government is considering restrictions on exports of AI chips to China and Netflix gained 3.06% after Oppenheimer raised its price target.
Good day yesterday, no follow-through overnight. Retailers bottoming as rate rise fear dissipates.US sees low volumes as long weekend approaches – Holiday Season in the US. I have started breaking out Weekly (for Investors) from Daily signals (for Traders) in the Technical Scans. By popular demand – a spreadsheet with expected dividend dates on it.
Wall Street closes higher overnight, ending near best levels.
This is the Marcus Today Members Exclusive Podcast – A good day today as the CPI number comes in below expectations and the market pops 50 points.
ASX 200 closed up 78 points to 7197 (+1.1%), boosted by cooler-than-expected inflation results.
Wall Street lost ground overnight, ending near worst levels as worries about the impact of further interest rate hikes.
This is the Members exclusive podcast with a Cameo appearance today by Archie – a good one for your 20 year old to listen to.
The ASX 200 up 40 points to 7118 (+0.6%) snapping back from a 4-day losing streak ahead of CPI numbers tomorrow.
The main event this week is Australia’s monthly CPI data out Wednesday. The last reading of 6.8% in April surprised the market, up from 6.3%.