US markets closed mixed on Friday night after markets digested hot inflation and consumer spending data with company earnings reports. Dow Jones lost 367 points (-1.12%), the S&P lost morning gains to close down 0.48% and the NASDAQ rose 0.38%. The Dow was dragged lower by Chevron (-6.72%), and the NASDAQ mainly lifted due to big jumps in Amazon (+6.8%) and Intel (+9.29%). In Europe, markets also fell. DAX down 0.3%, STOXX 600 down 0.84% and FTSE down 0.9%.
Gina pounces on AZS, CXL gets its own Heirloom. Nickel market in a state of flux. Threats to iron ore producers from green policies. Usual US Check Ins IMARC Resource Conference kicks off tomorrow.
DIARY NEXT WEEK The US reporting season enters its final week with McDonald's, Uber, Airbnb, Pfizer, Eli Lilly, Qualcomm and Berkshire Hathaway the big names. Calendar HERE. On the economic front, we have a big week ahead. First and foremost in the USA is the big one, Fed Interest Rate Decision on Thursday morning. There is almost a certain chance that…
A pretty sorry week. Another sorry night. SPI Futures down 67, setting us up for a pretty shabby Monday start. Eighty-four new ASX 52-week lows on Friday. There should be a few more on Monday. ASX 200 did better than the US last week thanks to an absence of tech stocks (although our tech sector…
SMALL CAP PORTFOLIO 3.00pm Updates I have added another 1% holding in LTR at 171.5c. There is a really good article by Kingsley Jones. Well worth a read. He is a clever guy and a deep thinker. Click here Speculative Stock of the Day: WebCentral (WCG) +190%. Great deal selling one of its businesses for…
TECHNICAL SUMMARY ASX200 and All Ords hit a 52-week low. Next support not until 6440. Only four daily buy signals and two sell signals in the All Ords.
ASX 200 closed up 15 points at 6827 (0.2%), down only 1% for the week. Banks better after a run yesterday, the Big Bank Basket up to $171.72 (+0.7%). CBA leading the charge up 0.8%. MQG remain under pressure ahead of results due soon, down 0.5%. Insurers slid as yields stabilised, QBE down 1.7% and…
Why has CSL fallen? CSL was the foundation stock for everyone’s portfolio. It didn’t pay much dividend but the constant reliable growth made it popular for retirement funds. It was a bottom left top right stock on the charts, rarely taking a dip. It was a share I always wanted in my folio but always thought it was too expensive. Having waited too long for an opportunity, I finally took the plunge on a slight down day and enjoyed a great run for a few years up to, and including the start of Covid. CSL had gone from 76.7c when…
Bond yields drop despite the GDP number. Waiting for the PCE Price Index. What will be the signs at the bottom. A look at the Banks, Resources and Tech Sectors. FOMC next week. RBA on Cup Day.
