US markets finished mixed overnight after inflation results reinforced speculation the Fed will pause its rate hikes. The Dow fell 70 points (-0.2%). Up 121 at best. Down 136 at worst. The S&P 500 and NASDAQ finished near 50-day moving averages, up 0.12% and 0.29%, respectively. US bond yields traded in a narrow range, 2Y…
CPI a Non-Event. What now with the Ideas Portfolio? Why Australian interest rates have peaked. Some Shocking Predictions from Livewire.
The ASX 200 surprised today, up 33 points to 7187 (+0.5%). The SPI Futures this morning were down 5 points after a CPI non-event in the US overnight. We rebounded from the early dip to end near best levels.Jobs data was the main story today, normally ignored by the market. Unemployment remained steady at 3.7%, but 64k jobs…
Tech stocks dragged Wall Street lower overnight, and oil prices rose, deepening worries about persistent price pressures ahead of the US CPI reading tonight. The Dow Jones fell 18 points (-0.05%). Up 189 points at best. Down 103 points at worst. The Nasdaq fell 1.04%, weighed down by Oracle -13.5% after the company provided a…
The ASX 200 fell 53 points to 7154 (-0.7%), snapping a two-day advance following the US markets lower. All eyes are on US CPI tonight. Stronger oil prices have raised concerns for a higher headline inflation reading. Almost all sectors went lower today. Utility and Energy stocks were the only sectors to rise supported by higher oil…
ASX 200 closed up 15 points to 7207 (+0.2%) in a choppy day of trade. The ASX 200 fell 36.5 points in early trade before bouncing back following. Better-than-expected NAB Business Confidence data may have helped but again, it was a resources rally that turned the tide. The ASX 200 is rallying into the CPI numbers tomorrow night helped…
From Reuters yesterday – Sept 11 (Reuters) – Australian billionaire Gina Rinehart's Hancock Prospecting said on Monday it has picked up a stake in lithium miner Liontown Resources (LTR) which recently accepted a buyout bid from Albemarle. Hancock said it has become a "substantial shareholder" of 7.72% of the ordinary shares in Liontown. Liontown's shares…
US markets closed higher overnight, led by a rally in tech stocks ahead of a busy week. The Dow Jones rose 87 points, trading higher all day up 208 points at best. The S&P 500 and Nasdaq ended near best levels, up 0.67% and 1.14%, respectively, ending above the 50-day moving average after slipping below…
