Markets ignore trade tariffs and edge higher
WHAT MATTERED TODAY
Another busy week in the mkts wrapped up on a positive note this despite the US this afternoon imposing an increased 25% tariff on about $200 billion of Chinese goods, up from 10% before as trade negotiations continue in the US. News reports saying that day one of talks between top Chinese and U.S. economic officials in Washington ended with little progress – however, the markets have applied a more optimistic spin with US Futures now ticking up into the green while Asian markets moved higher – Chinese Futures now up ~4% at time of writing – optimism of a deal maybe building again. No doubt a lot to keep an eye on over the weekend, along with the usual election diatribe.
All up, a reasonable session today, BHP caught my eye given a decent turnaround in price from the daily lows while the banks were bid into the afternoon session. Golds were also strong – Saracen (SAR) had a stormer adding 3.41% however the sector was generally strong.
Overall today, the ASX 200 added +15pts or +0.25% to 6310. Dow Futures are trading flat.
ASX 200 Chart 
ASX 200 Chart
Sectors this week;
Stocks this week;
Broker Moves;
· Adelaide Brighton Downgraded to Sell at Citi; PT A$3.50
· Adelaide Brighton Cut to Neutral at Credit Suisse; PT A$3.90
· Orica Upgraded to Neutral at Citi; PT A$20
· Orica Downgraded to Sell at Morningstar
· Orica Downgraded to Neutral at Credit Suisse; PT A$19.24
· Qantas Downgraded to Neutral at Macquarie; PT A$5.75
· Temple & Webster Rated New Outperform at RBC; PT A$1.75
· GrainCorp Upgraded to Hold at Morgans Financial; PT A$7.57
· TPG Telecom Upgraded to Overweight at JPMorgan; PT A$6.90
· Evolution Raised to Overweight at JPMorgan; Price Target A$3.50
OUR CALLS
No changes today
Watch out for the weekend report. Have a great night,
James & the Market Matters Team
Disclosure
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Disclaimer
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