ASX 200 fell another 53 points to 6890 (0.8%), an 11-month low with banks and industrials in the firing line today. The Big Bank Basket dropped to $172.06 (-1.6%), with CBA down 1.6% and MQG falling 2.1%. Insurers are once again under pressure despite rising bond yields, usually good for the sector. QBE down 1.0%,…
ASX 200 fell another 90 points to 6943 (1.3%) after weak leads from overseas and bond yields pushing higher. RBA leaves cash rates unchanged in Bullock’s first meeting. Low volume and only tentative signs of some bargain hunting appeared. Resources once again the problem as iron ore fell in Singapore. BHP down 1.2%, and FMG…
US markets ended mixed on the first trading day of Q4, following Friday’s mixed weekly performance and worst monthly performance of the year. The Dow Jones fell 74 points (-0.22%). Up 4 points at best and down 288 at worst. There was a big divergence in performance between Big Tech and the rest of the…
SMALL CAP PORTFOLIO 2.45pm Updates RBA leaves rates unchanged and the statement reads like the previous copy and paste job. No real change from Michele. The central bank keeps its options open and data-dependent again. Sold out the 1% in LRS at 29c that I added to the portfolio at 23.5c a few days ago.…
SUMMARY The Trend is not our Friend. Cash still King. Government shutdown relief short-lived as bond yields rise…again. Resources getting worse. Just standing back, waiting. Aluminium bounces. Could be a trade in S32 or AWC but am lacking conviction. US Results season coming. Goldman optimistic on Tech. The oil trade – done? ResMed pop and…
SUMMARY Holiday in NSW QLD will crimp volumes. Is October really that bad? US Check Ins with Feat and Greed? Why its not optimal to hire an EV in the UK. SMALL CAP PORTFOLIO UPDATES A few changes last week as I wrote in the weekend edition. I now have only 17 stocks in the…
Dow Jones down 159 points (-0.47%) overnight on Friday, closing near the low. NASDAQ up 0.14% and S&P 500 down 0.27%. The week continued to be dominated by higher for longer rate fears, as the oil price saw some modest profit taking after its recent run. Bond yields rose as the US 10-yr was up…
The ASX 200 started the December quarter on a negative note, down 15 points to 7033 (-0.2%), following a choppy day of trade ahead of the RBA meeting tomorrow for its rate decision (hold is expected). Most sectors finished in red today. Defensive utility stocks were in demand, with ORG up 1.0% and APA gaining 0.7%. REITS and…
