After the 109-point bounce off the lows in our market on Friday, I expected to wake up to find Wall Street did something similar. Wasn’t to be. Looks like the buying in our market yesterday was simply some fund manager on Friday deciding to buy a few hundred million dollars worth of resources. For Friday's…
The “New Hawkishness” goes global. Slow leak turns into a puncture. A few other signs of that we’re going nowhere. The seasonal chart says come back in December. Selling BHP as well. If you’re ever going buy BBUS and SNAS now’s the time.
The ASX 200 finished the week up 4 points to 7069 (+0.1%), clawing back earlier losses after falling over 100 points (~1.5%) at the opening bell and snapping a four-day losing streak. SPI Futures were down 97 points this morning. ASX 200 fell for a second consecutive week, down 2.89%. Sectors were mixed. Real Estate and Tech were hit hardest, while…
Dow Jones down 370 points or 1.08%, closing near the low and down 2.38% for the week. S&P down 1.64% and the NASDAQ worst down 1.82%. Global risk-off sentiment continued as the Bank of England followed the US and other central banks in holding rates while making clear signals that rates will remain as high…
Fed Hawkish – Policy to be “kept significantly tighter” through 2024 than previously expected. Dow Jones dropped 279 points after the announcement. NASDAQ down 1.53%. S&P 500 down 0.94%. Bond yields rose – 10 year bond yield rose 3bp and the two-year bond yield +7.5bp on the night.
Dow Jones down 77 points (0.2%) closing near the low. It was up 259 at best and down 83 at worst. S&P 500 down 0.9% the NASDAQ down 1.5% as interest rate sensitive tech gets hit hardest of all sectors. Intel, Alphabet and Nvidia the biggest losers down 4.5%, 3.1% and 2.9% respectively. ASX to…
The ASX 200 closed down 98 points to 7065 (-1.4%). Falling for a fourth consecutive session and hitting a 10-week low, tracking Wall Street overnight after a hawkish pause from the Fed. All sectors finished in negative territory today in a broad market sell-off with financials and energy stocks the worst performers. Oil prices slid for a third…
