US stocks closed lower overnight as the market digests the latest FOMC meeting minutes, trade barriers from China and oil output cuts from OPEC+.
I am taking some profits today in the IDEAS PORTFOLIO and throwing in the towel on the BHP and MQG one stock portfolios for the moment. The sugar hit from the RBA pause is well and truly over. That didn’t last long. The ASX 200 was up 33 on the day of the pause, dropped 26 yesterday and the futures are down 37 today.
Blood on the streets on ASX 200 today, closingdown 90 points to 7163 (-1.2%), as investors exercised caution after the FOMC meeting minutes.
US stocks closed lower overnight following July 4th Independence Day holiday as the market digests…
MARKET AT MIDDAY The ASX dropped 0.9% at the market open, with all sectors in…
Blood on the streets on ASX 200 today, closing down 90 points to 7163 (-1.2%),…
SUMMARY Wall St closed – not much to go on. The RBA pause – Short…
ASX futures down 12 points or 0.17% to 7233 near 7am AEST. Global stock market trading was light overnight, US markets closed for Independence Day.
Yesterday’s RBA rate pause could have been a mistake. Coming into focus now is the quarterly CPI number on July 26. Everyone seems to have forgotten the March quarter number (7%) and the June quarter number is still going to be 6% plus, which is still well above the RBA’s target.
ASX 200 closed down 26 points to 7253 (-0.4%), letting go of yesterday’s gains, snapping a three-day advance.