Canadian inflation spanner. Powell – Surely no surprises. RBA on message. Nothing new. Bond market refusing to give inflation the benefit of the doubt. Some sell signals on Tech ahead of Fed. Travel folding up. “Revenge Travel ends”.
ASX 200 closed down 33 to 7163 (0.5%). Falling for a third consecutive session. The ASX 200 is down…
US markets little changed overnight ahead of FOMC Thursday this week. Dow Jones up 6…
Not sure why we’re “On Hold” for the Fed, is Powell going to say something unexpected? I doubt it. UAW strike creates an opportunity in BSL. NASDAQ held up so still holding FANG and LNAS in the Ideas Portfolio. Don’t let me stop you taking a profit in resources but I’m still holding. A comment on the China Property stocks – they don’t matter.
ASX 200 traded lower all day, closing down 34 to 7197 (-0.5%). Falling for a second consecutive day – ASX 200…
Wall Street moves sideways as investors look to Fed. Stocks drift lower, US yields rise but growth outlook dims. ASX to fall, Wall Street edges higher, Arm downgraded. UAW strike against automakers enters third day, no resolution seen. Fed unlikely to raise rates in November, says Goldman Sachs.
Market down 33 midday as we stay on hold for what is one of the most predictable Fed Meetings in months.
ASX 200 traded lower all day, closing down 34 to 7197 (-0.5%). Falling for a second consecutive day and lacking any direction following US markets. Gold stocks rallied on higher bullion prices ahead of the FOMC meeting. EVN up 1.4%, NST up 0.4% and NCM gained 1.4% after FIRB cleared Newmont’s proposed acquisition. Mining giants suffer as iron ore prices weaken. RIO down 0.7%, FMG off 1.1% and BHP down 1.4% after it warned of a potential 30% dividend cut if new Australian government industrial relations reforms proceed. Oil prices firmed, fuelling speculation of $US100 crude return. STO up 6.4% STX up 6.4%, and BPT up 0.3%. Coal doing well, YAL up 2.6% and WHC gained 1.2%. Tech sold off, led by SQ2 down 4.5% on CEO exit, CPU down 2.0% and ALU down 0.6%. All-Tech
SPI Futures down 41 but the Resources held up in the US – the sell off on Wall St was very much a Tech thing.