Henry’s Take – BHP Thoughts – CPI kills Rate Cut Hope – The Magic Shovel
Minor escape yesterday. Deal or No Deal? Ai Wars – Pollak talks. I listen. CPI- Rate Cuts Off Is the US Debt pile an issue?
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Pre-market Report
US equities sank overnight, dragged down by rising bond yields following another weak sale of treasuries. The Dow fell 411 points (1.06%) and hit its lowest level in nearly a month. S&P 500 down 0.74%, and the NASDAQ retreated 0.58%. US 10Y bond yields hit four-week highs at 4.6%, extending Tuesday's gains after a government…
Marcus Take
PORTFOLIO ACTION Selling MQG and FMG in the One Stock Portfolios on the open. The Tide has turned. FMG fell 3.6% yesterday. SUMMARY Winter is coming – Australian sell signals. RBA rate cuts pushed out to next year again. Market going Risk-off. Selling both One Stock Portfolio stocks – swimming against the tide. Eyes on…
End of Day Report
ASX 200 drops another 37 points to 7629 (-0.5%) after a bounce off the 7600 support level. Bank held firm with small losses in CBA and NAB. The Big Bank Basket down to $205.46 (-0.1%). MQG fell 0.6% with insurers mixed, QBE up 0.1% as bond yields rose. SUN off 0.8%, with REITs down, SGP…
Henry’s Take – Director Selling? A Sign?
Update on CZR Is the US EV story really done? Not by a long shot! Director selling – Should investors follow? The Call at Noon.
Trading Section
SUMMARY NASDAQ powers higher once again thanks to Nvidia. LNAS set to benefit. Looking to add some new trades but holding off for now. Big tech the only strong performer currently. If we were to add some new trades WHC and STO have come up on the scans. ORI fades from a strong open. No…
Pre-market Report
Wall Street ended mixed overnight in an uneventful day of trading. The NASDAQ closed above 17,000 for the first time ever, up 0.59% supported by gains in Nvidia +7.0%, reaching a $2.8 trillion market cap boosting other chip stocks and the PHLX Semiconductor Sector index 1.86%. The Dow slipped 217 points (-0.55%), and the S&P…
Marcus Take
BREAKING NEWS—Inflation numbers were higher than expected, at 3.6% in April, up from 3.5%. The Consensus was 3.4%. The market dropped 20 points straight away. Bond yields are up, and the Aussie dollar is up. SUMMARY Perfect Day for the Strategy Portfolio – Big Tech up – Australia down. A lesson in Sentiment-driven stocks. NASDAQ…
End of Day Report – Inflation Hotter than Expected
ASX 200 fell another 101 points to 7666 (-1.3%) in lacklustre trade compounded by nasty CPI number that put rate rises back on the cards. Banks were smacked down, with ANZ down 2.5% and the Big Bank Basket down to $20587 (-1.9%). MQG smashed 1.3% and insurers off with IAG in a class action down…