ASX 200 rose 37 points to 7639 (+0.5%) off highs but bounces off 7600. Jobs data fails to stir. Good news for Iron ore miners with BHP production numbers and higher ore prices in Asia saw BHP up 1.5%, RIO up 1.7% and FMG lagging. Base metals finding friends again, MIN up 1.9% and PLS…
SUMMARY Powell – no rate cuts for “as long as needed”. Love it when a plan comes together – recent selling paying off. SNAS trade – hoping we’ve caught the top. Geopolitical risk building. Good for gold and oil. RIO production numbers dip. BHP tomorrow. Education Corner – Why they want you to trade FOREX. MARKET BULLETS…
ASX 200 closes down 7 to 7606 (-0.1%) in an anaemic bounce snuffed out at the close despite better US futures. Nerves surrounding Israel continue. Banks staged a slight recovery as BOQ beat forecasts despite a dividend cut, up 5.2%. The Big Bank Basket rose slightly to $199.04 (+0.2%). MQG slid another 1.0% with insurers…
Wall Street closed mixed overnight in choppy trading as the market weighed the latest round of quarterly reports and Powell's comments which drove bond yields to fresh 2024 highs. The Dow gained 64 points (+0.14%), getting a boost from UnitedHealth’s +5.2% better-than-expected Q1 results. Up 257 points at best, down 21 points at worst. The…
Added some small exposure yesterday in GEAR. The Inconvenient Truth. Powell speaks. Are higher rates actually stimulating the US economy? Podcast with Hedge fund manager.
SUMMARY Reviewing the damage from yesterday. Nothing serious except for KAR and BGL. SNAS and SFR shine. KAR caught up in the selloff, closing right on its stop loss and support. Monitoring today and will take action if it opens lower. Gold flat overnight. BGL close to stop loss but hasn’t hit it yet. NST…
Wall Street kicked off the week sharply lower, ending near worst levels as tech stocks dragged and bond yields jumped after hot retail sales and rising geopolitical tensions between Iran and Israel. The Dow fell 248 points (-0.65%). Up 404 points at best and down 325 points at worst. S&P 500 erased earlier gains and…
Markets moving as forecast. Fat and Happy then …… A look at gold miners. PRU? Fed speakers to the max this week. Kite Flying?
SUMMARY SNAS set to go in the green. Will raise its stop loss after the close (as it hits a new recent high). BPT slowly heading higher. Increasing stop loss slightly. Oil down overnight. KAR behaving better. NST opened lower but buyers came in to mitigate the damage. Same can’t be said for BGL. SFR…
