Henry’s Take
ORG in focus. PLS with a huge 18.5% short position. US Check-Ins.
End of Day Report – Market Drops in Afternoon
ASX 200 frittered away early gains to close down 53 points at 6988 (0.8%) in a mixture of apathy and low volumes. Iron ore weakness in Asia the turnaround as China authorities move to more supervision on pricing. BHP, RIO and FMG all took on water down around 1.5%. Lithium stocks depressed again, PLS down 2.5%, IGO off 3.3% and MIN off
Marcus Weekend
Wall Street had a half day on Friday following the holiday on Thursday. A lot of US traders have been on holiday all week and will be next week, so volume overnight was predictably half the usual volume. The US markets all behaved last night despite Nvidia falling 1.9% on a delay in the launch…
Diary Next Week
DIARY NEXT WEEK Inflation rates will headline next week as we see Australian CPI numbers on Wednesday morning, EU Inflation rate on Thursday night and US PCE Price Index (the Fed's preferred measure of inflation) early on Friday morning. Michele Bullock described Austrlian inflation as "homegrown" last Thursday night and estimated it will take more than…
Pre-Market Report US Markets Closed Overnight Thanksgiving Holiday
US markets were closed overnight for the Thanksgiving Holiday. Markets also close early tomorrow. On the European front, the STOXX 600 added 0.3%, extending recent gains and hitting a fresh two-month high. While the STOXX 50 also advanced 0.2% to a three-month high as the market digests latest economic data for hints on the ECB’s upcoming policy…
Technical Scans – AMP Prints Buy Signal
BHP and RIO with daily sell signals. AMP printing a daily and weekly buy signal after yesterday’s bounce. A stock we like, BKW is gathering for a break-out.
Marcus Strategy Friday – Holding on – very quiet
ACTION Selling GPT on the open in the Ideas Portfolio. Selling SLF on the open in the Ideas Portfolio. SUMMARY US closed. Australia walking its own path on inflation.
End of Day Report Friday
The ASX 200 finished the week on a positive note, up 12 points to 7041 (+0.2%), and for the week the ASX 200 edged lower, down 0.12%. Sectors finished mixed. Utilities remained the top performing sector all day
End of Day Report Thursday – Bullock Puts Spanner in the Works
The ASX has closed down 44 points (-0.6%) to 7029. A solid night in the US not enough to outweigh selling pressure caused by a Hawkish Michele Bullock and falls in the oil price.