Wall Street finished in negative territory overnight, snapping an eight-day winning streak after Treasury yields jumped as Fed Chair Powell stated that it is too early for the central bank to definitively announce the conclusion of its rate hike cycle, despite not presenting a case for further rate increase. The Dow finished 220 points lower,…
US equities were little changed overnight as markets weighed the latest corporate results and digested remarks from Fed officials. The Dow slipped 40 points (-0.12%). Dow up 100 points at best. Down 156 points at worst. The S&P 500 continued its longest winning streak in two years, getting close to the key 4,400 level, up…
SUMMARY No change in portfolios. A catch up with some stocks. QAN and 'The Man Who Wasn't There'. The problem is not just interest rates, it is the debt that will kill you. Ask WeWork How did we come up with 2-3% anyway. State of US debt. Be careful what you wish for with the…
SMALL CAP PORTFOLIO 2.45pm Updates XRO – Just watched the CEO on CNBC being interviewed. Didn’t give much away. Ironically the stock falls after making a profit. Below $100 now. Breaking down. Nothing done in the Portfolio. DYL slipping nicely towards 110c and hoping for more weakness. 100c is my price to get interested in…
ASX 200 up another 20 points to 7015 (+0.3%), off highs but holding up. Banks continue to find buyers with NAB volatile post results, WBC Ex-Dividend with the Big Bank Basket up to $178.05 (+0.6%). MQG kicked 1.5% higher, with insurers doing well too, SUN up 0.7% with SOL up 1.5%. REITs mixed, SCP and…
Wall Street rose overnight, buoyed by gains in mega-cap tech stocks and a fall in US treasury yields. Dow Jones rose 57 points (+0.17%). Up 111 points at best. Down 69 points at worst. The S&P 500 and NASDAQ notched their longest winning streak in two years, up 0.28% and 0.90%, respectively. The tech sector…
SMALL CAP PORTFOLIO 2.30pm Updates Nothing done in the Portfolio. WBT going well. Almost tempted to take the money. Almost. CEO is heading to Australia so more interest maybe. ABB and MP1 doing good things too. Optus outage helps ABB. Broker upgrades on Iron ore price been a kiss of death. Usually happens. Speculative Stock…
SUMMARY No change. Stay long and sing a song for now. I have the conch. Does the RBA really matter? Santa Claus rally? Two for your stocking.
TECHNICAL SUMMARY Not many hits today illustrating the market has come off last week’s oversold levels. S&P 500 breaks down-trend. MQG hits another 52-week low.
