SPI Futures up 38. We survived the US PCE Price index number which was in line with expectations and has gone through to the keeper. The month on month number was slightly better-than-expected. Bond yields dropped a touch. The chance of a US rate cut in September rose from 50.5% to 53.2%. Yawn. Dow Jones…
THE WEEK THAT WAS As usual, there was plenty going on. The BHP/ Anglo situation was front and centre of my mind. I remain a fan of BHP and have written plenty on the bid this week, so there's no point raking over old coals. BHP is simple: buy at $40, sell at $50. It…
Wall Street closed mixed following PCE results. The Dow Jones jumped 575 points (+1.51%), registering its biggest daily percentage gain since Nov-23. S&P 500 broke 5,200 before rallying above that level as every sector rallied, gaining 0.80%, and the NASDAQ slipped 0.01%. For the week, Dow fell 384 points (-0.98%), S&P 500 -0.51%, and NASDAQ…
Looks like we overdid the selling yesterday. Momentum lost. Traders stand aside. US markets riding on the PCE price index tonight. Interest rate-sensitive sectors looking toppy. Resources turning over. Education Corner – Relative Strength Indicator (RSI) explained.
The ASX 200 has finished the week up 74 points (0.96%) to 7702, enjoying a late rally and ignoring a poor US lead and upcoming futures. Defensives and Energy were the best performers. WOW and COL up 2% and 1.7%. WDS and STO up 2% as the oil price ticked higher. Real Estate excluding GMG…
Sold half the DRO at 108c. DXB now a 110% gain. The game is still afoot for BHP. Harry Kane-The Podcast On The Call today.
SUMMARY Cleared out the last of the trades yesterday. Good thing too. NASDAQ down 1.1% overnight. Only question now is whether SNAS is worth a punt. Tempted but the inflation print tonight could go either way. Will wait and see. PME continues to defy the market. Hits a fresh 52-week high. SFR’s share price and…
US equities ended lower overnight, dragged down by losses in tech stocks. Dow down 330 points (-0.86%). Up 52 points at best. Down 441 points at worst. S&P 500 and NASDAQ lost 0.60% and 1.08%, respectively, and are on track for a weekly decline following five weeks of gains. US Treasury yields eased, 10Y fell…
SUMMARY Clearing out the last two trades today, market trend not our friend. LNAS failed to fire this time round. Best we exit before it (rapidly) turns into a loss. Tomorrow night’s inflation data is more risk than reward. Disappointing recent fall in ORI as it closes yesterday just above its stop loss. Likely to…
