ASX 200 managed to cling to 6900 falling 81 (-1.2%) points today. Across the board…
Wall Street’s major indexes finished lower overnight after a choppy trading session as the market digested Powell’s comments, and the US 10Y yield approached 5%. The Dow Jones closed 251 points lower (-0.75%). Up 187 points at best. Down 297 points at worst.
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%.
Away today – no podcast from me. Labor market tight. Bond yields tight. Fed up tight.
Middle East tight.
Oil price tight.
Not a lot going right.
Cash is King for another day.
ASX fell 2.7% yesterday after holding its AGM, not necessarily on the news alone as the market had a bad day also. Plenty of information conveyed during the meeting with most of it concerning the massive $250 million chess replacement right off.
Wall Street’s major indexes finished lower overnight after a choppy trading session as the market…
Lynas (LYC) is down 1.8% today as it releases its Q1 activity report. The highlights include:
Quarterly revenue falling from $143m to $228m and Neodymium (NdPr) production falling from 1864 tonnes to 1526 tonnes.
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.
Our market down 87 and the jobs numbers not helping showing a tight labour market. Bond yields, poor US Results and Middle East tension doing us in.