Henrys Take
Pre-Market Report Friday
Wall Street closed higher overnight, ending just off best levels after strong economic revived hopes the Fed will be able to engineer a soft landing even if rates are higher for longer. The Dow rose 332 points (+0.96%), trading higher all day, up 402 points at best. The S&P 500 topped 4,500, up 0.84%. The…
Marcus Take Friday – Coming Alive
SUMMARY Futures up 88. The Ideas Portfolio will be looking a lot better today. Big rally in iron ore stocks overnight is perfect for us. BHP and RIO up 4% in the US. JP Morgan upgraded RIO and Anglo American by 10% on the back of the iron ore price. Other brokers will be doing…
End of Day Report Friday
The ASX 200 finished the week on a positive note, finishing sharply higher up 93 points to 7279 (+1.3%). For the week, the ASX 200 gained 122 points (+1.71%). All sectors finished in the green today. Mining and resource sectors were the top performers, with BHP, RIO and FMG all up over 3%, supported by stronger commodity prices…
Pre-Market Report Thursday
US markets finished mixed overnight after inflation results reinforced speculation the Fed will pause its rate hikes. The Dow fell 70 points (-0.2%). Up 121 at best. Down 136 at worst. The S&P 500 and NASDAQ finished near 50-day moving averages, up 0.12% and 0.29%, respectively. US bond yields traded in a narrow range, 2Y…
Marcus Take Thursday – CPI a non-event
CPI a Non-Event. What now with the Ideas Portfolio? Why Australian interest rates have peaked. Some Shocking Predictions from Livewire.
End of Day Report Thursday
The ASX 200 surprised today, up 33 points to 7187 (+0.5%). The SPI Futures this morning were down 5 points after a CPI non-event in the US overnight. We rebounded from the early dip to end near best levels.Jobs data was the main story today, normally ignored by the market. Unemployment remained steady at 3.7%, but 64k jobs…