SUMMARY Wall St holds up indicating yesterday’s selloff was overdone. Few big name sell signals MIN weathers the selloff yesterday relatively well. Iron ore closes mixed. Staying on the sidelines in MQG and FMG. KAR gives up 3% of gains to close flat. Oil up. Likely to head back towards $2.25 today. Gold stocks up…
ASX 200 rose 35 points to 7817 (+0.5%) in quiet trade. Banks and industrials are making gains after the drubbing yesterday, with The Big Bank Basket up to $207.93 (+0.4%). MQG did ok, and insurers mixed, with SUN up 0.2% and QBE slipping slightly. REITs are back in demand, led as always by GMG, up…
Wall Street ended mostly higher overnight after data showed the US services industry growth slowed in March, but gains were capped after Powel signalled a rate cut was still not in sight. The Dow slipped 43 points (-0.11%). Up 136 points at best, down 153 points at worst. Intel down 8% weighed on the 30-stock…
Fed heads out and about again. Small relief rally. Keith Richards and Silver. Mary Daly from the Fed nails it with the Dot Plots.
All three major US indices closed lower overnight as an increasing amount of strong economic data supported the “higher for longer” narrative. Dow Jones fell 397 points (-1%), S&P 500 fell 0.72% and the NASDAQ dropped 0.95%. New orders for Manufactured Goods rebounded more than expected and Job Openings came in line with expectations. Another…
Gold at Record highs. Who is buying? Not all commodities are equal. The Big Picture – What if there are no rate cuts this year?
Baby Boomers had property. Young Australians have something better. Bond yields rising – Higher for Longer is back. Talk of no rate cuts in the US this year. Jobs numbers on Friday hold the next key. US Results season coming.
SUMMARY Markets down. Profit taking setting in at last? Selling a few stocks. Selling SQ2, NASDAQ down and Bitcoin down over 5%. Better exit before things turn ugly. Selling LLC, fading away while the market held up. Don’t want to see what happens when the market goes down. Punching the air with gold. NST the…
US markets closed mostly lower overnight as gains in technology and energy were outweighed by rising bond yields. Dow Jones down 241 points (-0.6%), S&P 500 down 0.2%, NASDAQ up 0.1%. The US 10Y yield rose 10.9bp and the 2Y rose 7.9bp after manufacturing PMI increased to 50.3 points. The highest reading since September 2022…
