DIARY NEXT WEEK The main events coming up are Corporate, not economic. The AGM season in Australia continues along with a few earnings updates. The US Results season continues – Calendar HERE. Next week sees some of the behemoths report: Microsoft, Alphabet, General Electric, Boeing, Apple, Amazon and Meta. Our biggest release will be inflation data on Wednesday morning. Expected numbers are for a drop from 6%…
Away today – no podcast from me. Labor market tight. Bond yields tight. Fed up tight. Middle East tight. Oil price tight. Not a lot going right. Cash is King for another day.
Wall Street’s major indexes finished lower overnight after a choppy trading session as the market digested Powell’s comments, and the US 10Y yield hit 5%. The Dow Jones closed 251 points lower (-0.75%). Up 187 points at best. Down 297 points at worst. The S&P 500 notched its third straight loss, down 0.85%, the NASDAQ…
SMALL CAP PORTFOLIO Updated LTR at 11.00am – Bgt 1% back at 184c on the open. Having sold most of my holding at close to 300c, I am happy to buy around these levels and will add another 1% around 184c to take the total so far to a 2% weighting plus what I have…
ASX 200 managed to cling to 6900 falling 81 (-1.2%) points today. Across the board selling as yields and geo-political events take centre stage. ASX 200 down 2.1% for the week. 10-year yields stable at 4.74%, with US rates breaching 5.00% briefly. Banks sold off, with CBA down 1.0% and NAB down 1.6%. Banks have…
All three major indexes in the US closed sharply lower overnight, near worst levels, as escalating Middle East conflict dampened risk appetite. The Dow Jones fell 333 points (-0.98%), trading lower all day, down 399 points at worst. The S&P 500 and NASDAQ are now down for the week, losing 1.34% and 1.62% overnight. US…
SMALL CAP PORTFOLIO 2.30pm Update – News in The Australian suggests that Brookfield is working on a higher bid for ORG. I had this really interesting interview sent to me. Robert Friedland Interview. Hot off the press as my friend Richard Morrow would say. Click here Nothing done in the portfolio. Nasty day on the…
ACTION TODAY – Selling AKE and MIN in the Ideas Portfolio. Risk off again today. Market plagued by higher for longer again. Bond yields up again on strong data. Middle East tension not helping sentiment. Oil price up. Gold up. Morgan Stanley belted on results (-6.8%). Good Netflix results (+12%). Tesla margin pressures. Nvidia down 8% in two days. Lithium stocks hammered overnight on BoA lithium price downgrade.
TECHNICAL SUMMARY Finally buy signals on CSL and RMD from oversold levels. Healthcare sector has a daily buy signal. ORG finally a sell signal after a great rally. Host of Bond related ETFs oversold again as bond yields pop. AWC – weekly buy signal. Same list of quality large stocks still oversold – CSL, TCL,…
