Henry’s Take – Waiting…Commodities Spring to Life on China Data
Bank of Japan today will be the big one and Nvidia Keynote speech. Two copper stocks doing well. More to come too, I suspect.
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Pre-Market Report – Nvidia Unveils New AI Chip the B200
Wall Street closed higher overnight, driven by mega-cap growth stocks, which led a rebound in the Nasdaq after three consecutive days of losses. The Dow Jones advanced 76 points (+0.20%). Up 184 points at best. The S&P 500 rose 0.63%, NASDAQ gained 0.82%, while small caps Russell 2000 underperformed, down 0.72%. Google gained 4.4% on…
Marcus Take Tuesday – RBA today – cuts are coming, but not today
Bond yields rise again. Big Tech yet to crack. Big week of Central Bank meetings. RBA and BoJ today. Chinese economic data better than expected. Iron ore up 4%. Macquarie target price on FMG 42% below the current share price. The difference between forecasts and backcasts. The truth about broker research in the resources sector. AI smarter than humans within a year (depending on which human you compare it to). Elon Musk on prescription ketamine – obviously works.
Trading Section
Having technical issues with our technical software (no pun intended there). May update with the usual scans if we can get it up and running this afternoon. LLC continues to do well. Morgan Stanly had a positive update yesterday. BOE back to the price we originally bought it for (annoying). Hunting for new Ideas but more risk…
End of Day Report – RBA Holds Steady
ASX 200 rallied 27 points to 7703 (+0.4%) as RBA kept rates on hold as expected. BoJ moved to raise rates to zero for the first time in years. Resources stocks rallied hard, with iron ore stocks back in demand, FMG up 3.6%, BHP up 2.8% and RIO gaining 2.5%. Gold miners were slightly better…
Henry’s Take – Dr Copper – CNB in focus
Why Dr Copper? XAM and CNB – Copper explorers. US Check-Ins What is wrong with Facebook? It must be me but Oppenheimer?
Pre-market Report
US markets finished lower on Friday night with tech hit the hardest. Dow Jones down 191 points (0.49%), S&P down 0.65% and the NASDAQ down 0.96%. No specific catalyst behind the selling – a loss of momentum, profit taking and bond yields rising the key talking points. Adobe was the biggest loser, falling 13.7% after…
End of Day Report
ASX 200 kicked off the week fighting back from early losses to close up 6 at 7676. Quiet trading ahead of a big week. Local banks moved from losses to gains with the Big Bank Basket up to $205.68 (0.7%). Insurers better, IAG up 0.5% and SUN ahead by 1.1%. GQG up 0.5% and MFG…
Henry’s Weekend Take
THE WEEK THAT WAS Nasty old week. There was a dearth of research. It seemed that many analysts went off-grid. February is so exhausting, maybe they decided to take a ski trip. Not much fresh news out there. Plenty of sentiment and plenty of red ink in the market. Iron ore collapsed. Sorry, Dr Chalmers,…