AI after-burners are on. Now we’re getting frothy. But don’t sell anything yet. Record highs here today. Powell pacifies – ECB concurs. Aussie 10 year bond yield under 4%. Rate cut hope will soon be a reality and its blowing the equity markets along. Some Lithium shorts covered last week. Iron ore the new target. BHP and RIO ex-dividend. US jobs numbers tonight.
ASX 200 finished at record highs of 7847 up 83 points (+1.1%). Up 102 (+1.3%) points for the week. Banks were as usual, the big driver, hitting highs, the Big Bank Basket up to $214.07 (+2.0%). CBA pushed 1.8% ahead, NAB up 2.3% and WBC up 2.6%. MQG continued higher up 2.0%, and insurers up…
Powell is a nothing burger! ZIP in focus. UBS upgrades. Sold GMD yesterday. Added LTM. LPI gone. The Lucky Shag it is for Perth Meeting.
Wall Street closed higher overnight as economic indicators and statements from Federal Reserve Chair Jerome Powell bolstered expectations of a forthcoming rate cut. The Dow rose by 0.20%, the S&P 500 by 0.51%, the NASDAQ by 0.58%, and the Russell 2000 by 0.70%, though they ended slightly below their peak levels. Powell affirmed the Fed's…
SUMMARY Bull run not over yet. Markets head higher again. Cash in MQG for now. Iron Ore drifts lower. No change to BHP. BOE and LLC not coming to life yet. Few tech sell signals around. Short term only with the NASDAQ up overnight. MFG forming a nice uptrend after jumping 7.9% yesterday. CTT breaks…
SUMMARY Powell behaved. Bond yields liked it. Relax. The NASDAQ steadied. Tuesday's sell-off didn't develop then. Record highs on US, Australian and European equities, Gold and Bitcoin – Normal? The Anatomy of a Crash. Lessons from 1987. Yesterday's Australian GDP number – anaemic growth means rate cuts are coming. The ex-dividends keep coming. BHP and…
ASX 200 finished up 30 points to 7758 (+0.4%) despite the heavy weight of large-cap ex-dividends. Once again, banks leading the way with the Big Bank Basket up to $209.87 (+0.7%). MQG rose 0.8%, and CBA hit record highs up 0.8%. GQG rose 2.8% on FUM news, ASX up 0.8% despite being fined by ASIC.…
ASX 200 flips to close at 7734 up 9 (+0.1%), turning positive as GDP number disappoints and hopes for a rate cut brought forward. Banks once again the drivers of the market, with the Big Bank Basket up to $208.37 (+1.1%). MQG kicked 0.5% higher, ASX up 0.4% and health insurers up. REITs mixed, GMG…
US equities fell sharply overnight, pressured by a fall in megacap growth companies like Apple and the chip sector ahead of Powell tomorrow and NFP on Friday. The Dow fell 405 points (-1.04%), down 532 points at worst, the S&P 500 lost 1.02%, and the NASDAQ fell 1.65%. Tech, growth, and momentum sectors were hit…
