SPI Futures up 7 but a strong performance from both Big Tech , the iron ore price, the Resources in Europe and the A$ suggest we are on the right side of the ledger today.
We have slipped 36 points at worst today as we wait for the US CPI number tomorrow
ASX 200 closed up 15 points to 7207 (+0.2%) in a choppy day of trade. The ASX 200 fell 36.5 points in early trade before bouncing back following. Better-than-expected NAB Business Confidence data may have helped but again, it was a resources rally that turned the tide. The ASX 200 is rallying into the CPI numbers tomorrow night helped by a mildly more positive vibe about China. Miners carried the market, once again supported by stronger iron ore prices. BHP, RIO and FMG
From Reuters yesterday – Sept 11 (Reuters) – Australian billionaire Gina Rinehart's Hancock Prospecting said…
US markets closed higher overnight, led by a rally in tech stocks ahead of a…
In a surprising turn of events, the ASX 200 reversed earlier losses and ended the day on a high note, closing up 36 points at 7192 (+0.5%), snapping a four-day losing streak. The iron ore price (up 2.4%) drove a recovery in Resources and the Aussie dollar with only some Chinese Credit numbers (more credit lending than expected) to blame with increased borrowing from local governments to fund infrastructure. After the Chinese CPI numbers at the weekend (they rose instead of fell) one economist says “Many data we’re seeing now shows that the economy’s slump may be slowing in the coming months”. T
Wall St finished higher on Friday, helped by a rise in energy stocks. The Dow closed 76…
Very challenging day as a small change in our data feed means we have to…
In a surprising turn of events, the ASX 200 reversed earlier losses and ended the…