The ASX 200 closed flat, near unchanged, up 1 point to 7325, after jumping over 50 points in early trade before unemployment data dampened the market’s mood raising bets of further tightening from the RBA. The Aussie dollar jumped 0.6% to 68.15c, clawing back recent losses, and bond yields rose with 2Y yield up 12bps,…
MARKET AT MIDDAY The ASX 200 is up 38 points to 7322 (+0.5%) opening with a 0.6% increase, following the positive momentum from Wall Street. Most sectors showed gains, particularly the energy and financial sectors. Ampol (ALD) rose 4.9% after announcing an expected EBITDA of $800m for the first half of the 2023 fiscal year. Northern Star Resources (NST) experienced a significant drop…
All major US indices were up overnight, boosted by stronger-than-expected earnings results from heavy-weight banks and AI stocks. The Dow rose 367 points (+1.06%). Dow at worst down 55 points. Dow at best up 401 points. S&P 500 up 0.71%. NASDAQ up 0.76%. USD slid to a 15-month low before rebounding as futures point to…
US markets rallied over the possibility the Federal Reserve may soon conclude its rate-hiking campaign, while China’s economic data came in softer than expected. Dow Jones up 76 points (+0.22%). Dow at best up 156 points. Dow at worst down 90 points. S&P 500 up 0.39%. NASDAQ gained 0.93%. VIX +1%. US Treasuries were flat,…
The ASX 200 Index is down 32 points to 7266 (-0.4%) experiencing a 0.1% decline at open, falling below 7,290 for the second consecutive session. The drop was influenced by losses in mining and energy stocks due to weakened iron ore and oil prices after softer Chinese economic data. Selling increased following the RBA minutes as it said more rate…
ASX 200 slid 15 points to 7284 (-0.2%) after an early loss kicked on by RBA minutes reminding all that there could be more rate rises to come. Banks held up with the Big Bank Basket up to $176.79 (1%). NAB led the charge higher, up 2% with ANZ up 1.7%. Insurers too in demand, QBE up 0.4% and some buying in financial services with GQG up 1.3%. ASX continues to struggle…
US markets closed out the week mixed on Friday as the US Q2 reporting season kicks off. Dow Jones up 114 points on Friday (+0.33%). NASDAQ -0.18%. S&P 500 -0.1%. All markets were higher for the week on softer-than-expected US CPI data followed by lower-than-expected PPI data, the lowest in three years. For the week,…
MARKET AT MIDDAY The ASX 200 Index declined 5 points to 7298 (-0.1%) as the market exercised caution ahead of the release of the RBA's June policy meeting minutes, which could provide insight into future interest rates. Market sentiment was also influenced by the upcoming release of Chinese economic data, given the country's status as Australia's largest trading partner. Woodside Energy (WDS) -1.1%, Newcrest Mining (NCM)…
These are out Weekly charts covering the Markets and Sectors – they give you a feel for the “Tide” and the undercurrents.
