ASX 200 managed to cling to 6900 falling 81 (-1.2%) points today. Across the board selling as yields and geo-political events take centre stage. ASX 200 down 2.1% for the week. 10-year yields stable at 4.74%, with US rates breaching 5.00% briefly. Banks sold off, with CBA down 1.0% and NAB down 1.6%. Banks have…
All three major indexes in the US closed sharply lower overnight, near worst levels, as escalating Middle East conflict dampened risk appetite. The Dow Jones fell 333 points (-0.98%), trading lower all day, down 399 points at worst. The S&P 500 and NASDAQ are now down for the week, losing 1.34% and 1.62% overnight. US…
SMALL CAP PORTFOLIO 2.30pm Update – News in The Australian suggests that Brookfield is working on a higher bid for ORG. I had this really interesting interview sent to me. Robert Friedland Interview. Hot off the press as my friend Richard Morrow would say. Click here Nothing done in the portfolio. Nasty day on the…
ACTION TODAY – Selling AKE and MIN in the Ideas Portfolio. Risk off again today. Market plagued by higher for longer again. Bond yields up again on strong data. Middle East tension not helping sentiment. Oil price up. Gold up. Morgan Stanley belted on results (-6.8%). Good Netflix results (+12%). Tesla margin pressures. Nvidia down 8% in two days. Lithium stocks hammered overnight on BoA lithium price downgrade.
TECHNICAL SUMMARY Finally buy signals on CSL and RMD from oversold levels. Healthcare sector has a daily buy signal. ORG finally a sell signal after a great rally. Host of Bond related ETFs oversold again as bond yields pop. AWC – weekly buy signal. Same list of quality large stocks still oversold – CSL, TCL,…
ASX 200 dropped 96 points to 6982 (1.4%) as a broad sell-off hit the market as bond yields and Middle East conflict weighed on risk-takers. Big Banks down in the dumps, with CBA off 1.6% and the Big Bank Basket falling to $175.68 (-1.4%). MQG fell hard on US investment bank sell-off, down 2.7%. Insurers…
ASX 200 – Recent rally has failed to break the downtrend. Qantas (QAN) – In a sentiment hole and still going down. One day it’ll bounce. FMG – Three brokers with sell recommendations yesterday but the share price still goes up. HUB – FUM numbers see it hit all-time highs. Healthcare sector – Oversold and no end in sight as GLP-1 wreaks havoc on CSL and RMD.
SUMMARY Bond yields higher and higher. Recent ASX 200 index rally failing to break the downtrend. Can’t buy into this lack of trend. BHP production numbers. Telstra AGM – now de-risked for a few months. TPG Telecom bid talk – we look at that. QUICKIES Bond yields roofing it here and in the US overnight.…
Wall Street’s major indexes finished mixed overnight, losing earlier gains to end near flatline amid rising bond yields and renewed fears of higher for longer after higher-than-expected retail sales data. The Dow closed marginally in the green, up 13 points (+0.04%), up 163 points at best and down 130 points at worst. The S&P 500…
