Henry’s Take
Will 7700 hold? Time for GEAR? Sold KGN yesterday. WBT still for the chop. How do you know when a boom is about to bust?
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Trading Section
SUMMARY Oil stocks give up morning gains indicating buyers are staying on the sidelines. Still not time to buy. If it’s dug out of the ground chances are it fell over yesterday. A look today at the Iron ore giants. SUL in the headlines today. Share price recently bottomed. GUD breaks out of its pennant…
Marcus Take
SUMMARY Not much to report. Apple up 7% keeps Big Tech going. Resources not looking good again today. Uranium our only exposure. Waiting for the CPI, FOMC and RBA. Interest rates getting boring. Australian Jobs numbers and Chinese CPI today. Education Corner – There are a lot of things that will waste your time. MARCUS…
End of Day Report – ASX 200 down 40 Points
ASX 200 lost another 40 points to 7716 (-0.5%) ahead of Fed meeting and US CPI. Once again, resources were the biggest culprits as iron ore remains under pressure, BHP fell 0.6%, and RIO off 1.5% with base metals falling, S32 continues to soften down 0.8%, and PLS falling 2.9%. Uranium stocks on the nose as…
Pre-Market Report – Apple Unveils Apple Intelligence, Bringing ChatGPT to Iphones.
Overnight the Dow ended near best levels, up 69 points (+0.18%). Up 79 points at best. Down 134 points at worst. The S&P 500 and NASDAQ closed at record highs, advancing 0.26% and 0.35%. Treasury yields muted as a weak $58bn 3Y auction knocked sentiment ahead of tomorrow's $39bn 10Y sale. 10Y yield up 4.2bps, and…
Henry’s Take
Commodities to lead us down. Happy to have sold GEAR last week. US Check Ins-Jobs data fails to dent rally-GDPNow picks up. CPI this week.
Trading Section
SUMMARY Focussing on commodities today as that’s where the action is. Most saw sharp falls on Friday night followed by a bounce last night. Gold took a big hit after a huge rise in bond yields. WTI down 1.3% over the weekend, then roars back 4.3% overnight. Could be the catalyst we were looking for.…
Marcus Take Tuesday – Australia a second class stock market as the US hits record highs again
Dull stuff here as the US hits record highs. Strategy Portfolio still loving the US rally. Big week for data – FOMC and US CPI. RBA next week. When will Big Tech top out? Thoughts on that. Education Corner – Sentiment versus value.
End of Day Report – ASX 200 Tumbles 105 Points in Post-Holiday Trade.
ASX 200 fell 105 points to 7753 (-1.3%) as banks pulled back from record highs and resources came under pressure on commodity price drops on US data. Iron slipping badly towards $100, BHP down 1.8%, RIO down 1.9%, and FMG off 3.2%. Base metal stocks were badly mauled, S32 off 5.2% and PLS falling 3.8%,…