MARKET AT MIDDAY The ASX dropped 0.9% at the market open, with all sectors in the red, led by losses in the materials sector. Mining and energy stocks declined, while consumer discretionary stocks also performed poorly. Magellan Financial Group (MFG) saw a 7.2% drop in its shares due to outflows, while Square (SQ2) rallied 4.8%. The ASX 200 is down 71 points to 7182…
Blood on the streets on ASX 200 today, closing down 90 points to 7163 (-1.2%), as investors exercised caution after the FOMC meeting minutes reaffirmed expectations that interest rates would remain higher for longer. Financials and miners weighed, with the big four banks losing between 1%-2%. The Big Bank Basket took a hit down to…
Global stock market trading was light overnight, with US markets closed for the Independence Day holiday. European markets muted in thin trading overnight, with indices ending around session lows. STOXX 50 -0.2% FTSE -0.1% CAC -0.2%, and DAX -0.3%. US equity futures flat with markets closed. Asian markets mixed overnight. Hang Seng led gains in China,…
MARKET AT MIDDAY The ASX 200 is down 25 points to 7254 (-0.4%), sliding lower after yesterday’s gain as the RBA held rates steady at 4.1%. Banks hit the hardest after gaining yesterday, The Big Bank Basket down 1% to $173.13. REITS gaining on the interest rate halt, GMG up 0.6% and MGR up 0.2%. Aussie bond creeping up post RBA decision. 10-Year up 3bps and 2-Year up 1bps. Dow futures down 31 points.…
ASX 200 closed down 26 points to 7253 (-0.4%), letting go of yesterday’s gains, snapping a three-day advance. Financials weighed on the market, with significant losses in the banking sector. NAB -0.8% CBA -0.5%, ANZ -0.8% and WBC -0.7%. Big Bank Basket down to $173.81 (-0.6%). Resources and base metals were mixed, with commodity prices…
Wall Street closes higher overnight in a holiday-shortened session kicking off the second half of the year on a positive note ahead of the US July 4th holiday. Dow Jones virtually unchanged, up 11 points (+0.03%). Dow at best up 58 points. Dow at worst down 121 points. S&P 500 gained 4.75 points, up 0.12%,…
SUMMARY A new presentation today – hope you like it. Big and small Tech in the US overbought with the NASDAQ, S&P 500 and a host of technology ETFS all overbought (HACK, ROBO, RBTZ, TECH, SEMI, CLDD). The S&P 500 ETFs all overbought – IVV, IOO. Geared US market ETFs buy signal – GGUS. Geared US…
MARKET AT MIDDAY The ASX 200 is down 3 points to 7243, after an early rise ahead of the RBA’s cash rate decision at 2:30 PM, where the market remains split on whether Lowe will raise rates by 25bps or pause. The latest RBA Rate Tracker implies an 84% likelihood for a hold. Gold and energy stocks leading…
The ASX 200 rallied 33 points to 7279 (+0.5%), bouncing back from 7,232 lows following the RBA’s decision to hold rates at 4.1%. The Aussie dollar fell 0.2% to 66.58c, and the 2Y yield was virtually unchanged, up 1bps. Gold miners are happy, buoyed by stronger bullion prices. EVN up 1.8%, NST gained 1.6%, NCM…
