Month: June 2017

Another very good session for the Australian market yesterday with the ASX 200 putting on +1.08%, to close back up above 5800. The ‘reflation’ trade was back on with the Materials up by +2.22%, versus the Real Estate stocks which we were down -1.23%. Overnight, the Tech stocks were once again the cause of more volatility in the US, with the NASDAQ off by 100 points. This dragged the DOW down by 167 points and the S&P 500 by -0.78%, however stocks finished some way up from the session lows. A few moving parts to this story – There are clearly a few ‘nervous longs’ in big US Tech and the NASDAQ for now, is leading the other markets. However, despite stocks being down overnight, we still saw positive moves in the Financial space and key commodity markets. US financial stocks were actually up overnight by 0.6%, building on a very strong week.