What Matters Today: Where does MM anticipate reducing our energy exposure?

The ASX200 fell over -1% yesterday on broad-based selling which saw over 80% of the leading index close in the red, only the Energy and Financial Sectors managed to close up on the day. The local market continues to rotate in the 6625-6825 region and with the next Fed policy decision due in less than 2-weeks investors feel reticent to take equities towards a new level of equilibrium without fresh news – as we mentioned yesterday the current consolidation looks identical to the one we experienced through June / July before stocks eventually broke out on the upside.

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Afternoon report 04/09/2025 18:06

The Match Out: ASX flips the switch, rebounds after heavy selloff

The ASX rebounded strongly today, recovering some of the ground lost in its sharpest one-day fall since April yesterday. A softish open relative to the finish, the index opened +40pts higher but rallied through the day, with some profit taking around midday before another surge in the second half of the session, closing within 5pts of its high.

Income Report: Asset allocation framework when targeting income

Morning report 04/09/2025 09:13

What Matters Today: Three Portfolio moves flashing on our radar

The ASX200 hit a buyers' air pocket on Wednesday, leading to its worst day in 5 months when a weak session on Wall Street combined with a strong local GDP print of +1.8% year on year, above the 1.6% expected by economists.

Afternoon report 03/09/2025 17:32

The Match Out: ASX whacked as hotter than expected growth tempers rate cut expectations.

Morning report 03/09/2025 09:40

Portfolio Positioning: The Bull Market feels tired, for now

The ASX200 slipped 0.3% on Tuesday, with over 65% of the main board closing lower, led by the consumer discretionary and staples sectors. With reporting season behind us, the local market feels tired and lacklustre after its +26% rally from its panic “Liberation Day” April low.

Afternoon report 02/09/2025 17:04

The Match Out: Stocks drift lower on little news

A second session where stocks drifted lower on very little news flow, with the US market closed overnight for Labor Day and economic + company data thin on the ground.

Morning report 02/09/2025 09:33

What Matters Today: Can the Retail Sector keep powering ahead?

The ASX200 fell away after an ok first 30 minutes to end Monday, the first trading day of September, down 0.5%. The ASX started the new month on the wrong foot, dragged down by the big banks and major miners, while gold surged to a new all-time high following another post by Donald Trump - more on this later.

Afternoon report 01/09/2025 17:19

The Match Out: ASX starts historically weak month on the back foot

Weakness crept into the ASX today as we start the most challenging month of the year, where the ASX has fallen on average 2% for the past 10 years. Dividends play a role here, however we’ve seen declines 70% of the time, and with markets at/near all-time highs, it’s easy to see why some profit taking may creep into the market ahead of the seasonally strong December quarter. Defensives and Gold outperformed while Tech was the obvious pocket of weakness.

Morning report 01/09/2025 09:32

Macro Monday: Let’s hope a tough week for the President doesn’t trigger volatility

The ASX200 closed up +3.6% for August, shrugging off its seasonally weak tag, having closed lower 70% of the time over the last decade. Interestingly, September is usually worse. It has fallen 80% of the time over the last decade, resulting in an average loss of 2.35%.

Weekend report 30/08/2025 08:57

Weekend Q&A: The volatile reporting season draws to a close – it’s been exhausting!

The ASX200 slipped 0.1% lower on Friday, but it still finished the week up +0.1%. As we’ve said a few times lately, it's feeling a touch tired above 9000. It was another week to remember from a reporting perspective, which dominated much of the movement on the sector level, although the materials sector continued to enjoy a strong recovery, topping the leader board for the week and month.

Afternoon report 29/08/2025 17:56

The Match Out: ASX dips as reporting season comes to a close

The ASX finished an up and down session slightly lower as reporting season volatility continued, with results headlined by strong gains in Harvey Norman and Mesoblast on the other side with ~10% moves for both continuing the trend of outsized share price reactions to earnings beats/misses.