SUMMARY Making a few trades today. Adding BHP ahead of its dividend in the one stock Portfolio. Added two trades to try and catch a peak in bond yields. Lots of economic data ahead that could kill or turbo-charge the “new narrative”. US closed on Monday – long weekend – low volumes overnight. Results season…
Wall Street climbed most since June, fuelled by optimism the Fed will pause rates in September following the latest jobs data.
SUMMARY Turning our focus to the MT Portfolios. Low volumes ahead of US inflation and jobs numbers. Chinese stimulus looks superficial at best. But might help resources short term. Ho Hum market – now below the pre-pandemic high – we need a bull market. Appen (APX) – down 32% yesterday – sometimes fundamentals do work.…
Dow Jones up 247 points (+0.73%). It was up 342 at best and down 70 at worst. S&P 500 +0.67%. NASDAQ +0.94%. Nvidia was down 2.4%, having risen 8.8% this week after better-than-expected results. SPI Futures up 22. Ho Hum. We've been going sideways in a range for most of the year. For the week,…
SUMMARY The Nvidia rally ended – better to travel than arrive. Glad I didn’t buy FANG. The Resources bounce now looks like a blip. Annoying. Chinese property woes simmer. Bond yield yields take over the narrative again. Yawn. Jackson Hole tonight seems more likely to be Hawkish than positive. A Stock Take on Woolworths today.…
ACTIONS TODAY Adding FMG, MIN and CIA as a trade today. Hoping to catch a rally in resources. Short term. Not enough evidence here to buy BHP in the one-stock portfolio. They have gone in on the opening prices today. SUMMARY Good results from Nvidia leaves it a bit "up there". Fading a bit…
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…
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…
