US equity markets finished lower overnight, in a broad sell-off after Moody’s cut the credit ratings of 10-small to mid-sized US banks, reigniting fears about the health of the US banks and the economy. The Dow Jones closed 159 points lower (-0.45%), well off worst levels. Dow down 466 points at worst. S&P 500 dipped…
MARKET AT MIDDAY The ASX 200 is up 4 points to 7315 (0.1%) as anticipation for China's upcoming inflation data lingers. US stock futures exhibited little change after a previous session where the main indices closed lower due to credit rating downgrades on several US banks, causing investor confidence to waver. Commonwealth Bank (CBA) spearheaded a rise in the financial sector…
All three major US indexes closed higher on Monday, rebounding from their worst weekly fall since March, and ending near best levels, as investors position themselves ahead of Thursday’s CPI report due this week. Dow Jones saw its biggest advance in more than seven weeks, up 408 points (+1.16%). Dow at best up 432 points.…
MARKET AT MIDDAY The ASX 200 is up 10 points to 7319 (+0.1%), rebounding from the previous day's losses but off highs, following a positive trend on Wall Street. Mining and technology stocks helping the recovery, with the materials sector surging 0.9%, led by Fortescue Metals (FMG) up 1.1%. Consumer confidence continues to drop despite the Reserve Bank's cash rate pause. James Hardie Industries (JHX)…
ASX 200 closed flat, up 2 points to 7311 (+-%), losing early morning gains, with mining and financials balancing the market. Iron ore giants were mixed FMG up 0.4%, BHP down 0.6%, and RIO off 0.4%. Goldman predicts a fall in iron ore prices this year. Iron ore futures in Singapore have fallen 11.6% from…
US markets concluded the week with losses all round as the latest batch of corporate earnings reports and new job statistics dampened market sentiment. The Dow Jones declined by 150 points (-0.43%). At its best, the Dow was up by 291 points, while at its worst, it was down 182. The S&P 500 and the…
MARKET AT MIDDAY The ASX 200 drifted down 20 points to 7305 (-0.3%) in a lacklustre start to the week following Wall Street’s Friday sell-off. Early weakness in the healthcare sector, didn't help particularly in Resmed (RMD) -4.3% following recent Q4 results. Technology stocks also getting hit, Block Inc (SQ2) -10.8%, Xero (XRO) -1%. Financials dropping lower after the Reserve Bank of Australia's policy settings…
ASX 200 drifted 16 points lower to 7309 (-0.2%) as iron ore miners and banks wallowed. WBC and ANZ, the worst performers ahead of CBA numbers Wednesday. The Big Bank Basket down to $176.94 (-0.2%). Insurers slid with QBE off 1.8% and SUN dropping 2.6%. MQG slightly firmer up 0.4% and GQG up 4.5% on…
These are our Weekly charts covering the Markets and Sectors – they give you a feel for the “Tide” and the undercurrents.
