Henry’s Take
Not much to go on this morning. Gold remains the standout in commodities. RBA this week – No change expected. US Check-Ins.
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End of Day Report – Woolworths and Coles Allegedly Manipulated Discounts on Hundreds of Items, ACCC
ASX 200 finished down 57 points to 8153 (-0.7%) despite hopes for Chinese stimulus and better US and European futures markets. Banks eased back led by CBA down 1.5% and the Big Bank Basket down 0.9%. Other financials mixed, ASX up 0.4% and CGF gaining 0.6%. REITs fell across the board, GMG down 1.5% and…
Henrys Weekend Take
THE WEEK THAT WAS Once again it seems another false start for resources. Much anticipation for a PBoC rate cut and China stimulus has come to naught. We have seen a bunch of brokers start to talk about the commodity trade following the Fed move. Morgan Stanley upgraded the Three Amigos (BHP, RIO, and FMG)…
Marcus Weekend
Good morning everyone. Wall Street didn’t do anything – our futures are interestingly down 68 points this morning. I think you can blame that on Resources, with BHP and RIO down 2.54% and 2.47%, reversing some of their 3-4% gains the day before. The ASX 200 was up 1.35% last week (+109) hitting a series…
Overnight Friday –
Wall Street finished mixed overnight, following the previous day’s rally fuelled by the Fed’s upsized interest-rate cut. The Dow nudged higher by 38 points (+0.09%) reaching a record thanks to Nike's gains (+6.84%), while the S&P 500 fell 0.19% and the Nasdaq eased 0.36%. For the week, the S&P gained 1.36%, the Nasdaq 1.49%, and…
Henry’s Take
Resources looking for a reason. Copper is back. Quietly this time. The bank rally. Is that over? EVN has appeal. Why bother with the ASX?
End of Day Report – Harvey Norman Hit with Second Class Action Lawsuit
ASX 200 wilted after a great start to close up only 18 points at 8210, unable to hold on to earlier big gains. Triple witching and index rebalancing in US tonight. Banks remained solid with the Big Bank Basket at $249.63 (+0.5%). MQG slid from record highs, and SUN eased 1.3%. REIT's mixed, GMG down…
Pre-Market Report – S&P 500 Closes at New High Following Fed’s Jumbo Interest Rate Cut
Wall Street rallied overnight on optimism that the Fed will be able to pull off a soft landing for the economy just a day after the Fed cut rates by 50bps. The S&P 500 rose 1.70% to 5,714, marking its 39th record high this year and bringing this year's rally to ~+20%. The Dow Jones…
End of Day Report – Australia’s Unemployment Rate Holds Steady at 4.2%, Reducing Chances of RBA Rate
ASX 200 closed up 50 points to a new record high of 8192 (+0.6%) on SPI expiry day. Some wobbles post job numbers were quashed by buyers stepping back in for banks and now resources too. The Big Bank Basket hit fresh highs of $248.39 (+0.5%). CBA up 0.5% and ANZ playing some catch-up, rising…