SUMMARY For Whom the Bell Tolls – The bell has rung at the bottom for…
ASX 200 rose 29 points to 6954 (+0.4%) ahead of NFPs tonight. Banks led the…
ASX 200 shrugged off early indifference to push off the 6900 level to close at 6925, up 35 points (+0.5%). Banks and industrials leading the bounce from oversold levels.
The US and Australian markets all oversold on a daily (short-term) basis. A host of sectors oversold now – Telecoms, IT, Small Ords, Healthcare, Infrastructure REITS. 140 oversold ETFs. Gold ETFS oversold. Uranium ETFs topping out. Oil price topping out. Aussie dollar ETF on a 52 week low.
Dow Jones up 127 points (0.39%) as weaker than expected ADP Employment numbers and Services…
SUMMARY Shrinking in uncertain times. Gina buys more LTR. Inevitably thoughts turn to days of…
A day on Bond Market Relief. Does one good day does not bottom the market? Is that the top of the oil price? Maybe. Is that the top for inflation? Possibly.
Is that the bottom for the Equity market? Unlikely. Still in cash.
ASX 200 shrugged off early indifference to push off the 6900 level to close at…
U.S. stocks closed higher on Wednesday.
The Dow Jones Industrial Average added 127.17 points, or 0.4%, to close at 33,129.55. The S&P 500 gained 0.81% at 4,263.75. The Nasdaq Composite rose 1.35% at 13,236.01.
Tesla up 5.9% and Amazon, Google, and Microsoft all up around 2%. Growth in US services sector slowed along with US private payrolls increasing less than expected. Equity markets viewed these results as reducing the chance of a Fed rate rise however all eyes remain on the key US jobs number expected Friday night (our time).
ASX 200 was up but has faded. A bit of Bond market relief kicked off by a 5% fall in the oil price has helped but not much.