Wall Street ended higher overnight, near best levels, building on the positive momentum from yesterday's session as gains in mega-cap tech stocks lifted the broader market. Dow up 264 points (+0.69%), S&P 500 +1.20%, and NASDAQ +1.59%. Treasurys eased a touch following a solid $69bn sale of 2Y notes, and economic data showed US business…
Resources to banks switch kicks off. No hurry to buy gold miners. Quarterlies drop. ASX200 where to from here? Tesla promises yet again. Cheap model?
SUMMARY Sold both gold exposures yesterday. NST for a nice 8.6% profit. BGL in contrast a 7.1% loss. It gapped well below its stop loss on the open. SNAS set to drop 3-4% so taking a profit and selling on the open. Reactions to the upcoming US results could send the market either way. Difficult not to get…
Focus on Australian CPI at 11:30am. Selling SNAS trade – downtrend loses traction. Good start to Tech results. Tesla up 11.3% after hours (is Tesla a Big Tech?). Meta, Microsoft and Alphabet results to come this week. US PCE Price Index number on Friday the main signpost. Citi says buy the dip. UBS says Big Tech profit growth to collapse. Some Stats on corrections. Education Corner – Ten Investors – which one are you?
ASX 200 fell 1 point to 7683 (-0.01%) after a CPI gut punch stole the momentum. Inflation is once again higher than expected, and insurance costs and education continue to pressure the upside. Banks again led the charge higher, with the Big Bank Basket up to $203.73 (+0.4%). WBC the standout up 0.9% despite news…
US equities rebounded overnight after the $2 trillion sell-off last week, which saw the S&P 500 book its third weekly loss and the NASDAQ 100 dropping ~5.5%. The Dow gained 254 points (+0.67%). Up 461 points at best, down one point at worst. The S&P 500 and the NASDAQ broke their six-day losing streak, advancing…
Sold all the GEAR. Gold drops hard. DEG quarterly. Gold shopping list. Federal Budget in focus. US earnings season. Members Meet Friday in Perth
SUMMARY Gold sold off yesterday. Opening update: Gold belted. Both BGL and NST below stop losses. Selling both. SNAS gains yesterday weren’t as big as expected. NASDAQ up 1% overnight. Stop loss increased to $1.84. Oil futures down overnight. BPT holding up relatively well. MQG prints another daily buy signal. Last week it was followed by…
Standard “Buying the dip” as Middle East risk dissipates. Eyes on Middle East – doubt its all over. Not buying the dip. Tesla’s Bubble bursting in slow motion. Results tonight. Big Tech results start rolling tonight. Eyes on CPI today. US inflation numbers on Friday. Education Corner – Why some Members don’t care about share prices.
