The ASX 200 closed at another record high, briefly trading as high as 9,296 before settling up +44 pts. Materials did the heavy lifting as copper reached fresh records in New York and London, while gold extended its strongest rally in six months. Hopes that a temporary shipping arrangement could restore some traffic through the Strait of Hormuz also continued to support sentiment ahead of the main phase of reporting season next week.
Bang! The ASX closed at a fresh record high today at 9,227, with around 75% of the market finishing higher. Some of the more beaten-up areas are also showing signs of life, with software a clear example following better SaaS earnings from the US. Hopes of a lasting peace deal with Iran are also helping sentiment, although we’ll believe that one when we see it.
It’s days like this that reinforce the importance of staying invested, participating in markets despite the negative headlines and bearish rhetoric, and, above all, remaining patient. With SPI futures flat this morning, investors took the bull by the horns, buying equities and pushing the ASX to its highest level since March as easing oil prices encouraged a rotation back into growth stocks, banks and healthcare. The rally was broad, with nine of the eleven sectors finishing higher and the local market comfortably outperforming modest gains in US futures.
The ASX 200 recovered from a weak start to finish +42pts higher today, a good ~80pt turnaround from the lows with utilities, industrials and consumer discretionary stocks leading the advance. Australian futures had initially pointed to a decline of around 1%, but sentiment improved after President Donald Trump called off planned strikes against Iran and pushed for renewed negotiations, reducing the immediate risk of a larger regional conflict.
The ASX 200 finished modestly higher today, securing a fourth consecutive monthly gain despite giving back most of an early rally. The index traded as high as 9,059 before closing just +9 pts higher (down ~85pts from the open), with strong gains across materials, selected technology names and gold miners offset by weakness in healthcare, consumer staples and communications.
The ASX 200 snapped a three-day winning streak today, retreating from yesterday’s five-month high as investors reduced risk following a sharp sell-off in the US. Materials and consumer stocks under most pressure, although strength across technology and selected energy names helped cushion the decline.
The ASX 200 hit a five-month high today after softer-than-expected inflation all but removed the prospect of an August interest-rate hike with healthcare, consumer discretionary and consumer staples leading a broad-based rally.
A solid session locally, with the ASX 200 gaining 0.52% despite US futures remaining slightly lower. The move had the hallmarks of futures-led buying in Australia, with the SPI strengthening through the afternoon and broad gains across consumer discretionary, communications and healthcare, while the major banks also provided support.
The ASX kicked off the new week in fine form that to a pause in US-Iran strikes, putting some probability back on diplomacy. The early spike higher as US Futures rallied was held and built on as the day progressed. Oil traded down 6%, bond yields fell ~10bps and the US was sold, pushing the AUD back up through US70c.
The ASX 200 finished firmly lower today as renewed escalation in the Middle East pushed oil back toward US$100/barrel, reigniting inflation and interest-rate concerns. The Aussie 3-year bond yield was up +10bps to 4.72%, while the 10 year yield pushed through 5%, settling at 5.08%.
Bang! The ASX closed at a fresh record high today at 9,227, with around 75% of the market finishing higher. Some of the more beaten-up areas are also showing signs of life, with software a clear example following better SaaS earnings from the US. Hopes of a lasting peace deal with Iran are also helping sentiment, although we’ll believe that one when we see it.
It’s days like this that reinforce the importance of staying invested, participating in markets despite the negative headlines and bearish rhetoric, and, above all, remaining patient. With SPI futures flat this morning, investors took the bull by the horns, buying equities and pushing the ASX to its highest level since March as easing oil prices encouraged a rotation back into growth stocks, banks and healthcare. The rally was broad, with nine of the eleven sectors finishing higher and the local market comfortably outperforming modest gains in US futures.
The ASX 200 recovered from a weak start to finish +42pts higher today, a good ~80pt turnaround from the lows with utilities, industrials and consumer discretionary stocks leading the advance. Australian futures had initially pointed to a decline of around 1%, but sentiment improved after President Donald Trump called off planned strikes against Iran and pushed for renewed negotiations, reducing the immediate risk of a larger regional conflict.
The ASX 200 finished modestly higher today, securing a fourth consecutive monthly gain despite giving back most of an early rally. The index traded as high as 9,059 before closing just +9 pts higher (down ~85pts from the open), with strong gains across materials, selected technology names and gold miners offset by weakness in healthcare, consumer staples and communications.
The ASX 200 snapped a three-day winning streak today, retreating from yesterday’s five-month high as investors reduced risk following a sharp sell-off in the US. Materials and consumer stocks under most pressure, although strength across technology and selected energy names helped cushion the decline.
The ASX 200 hit a five-month high today after softer-than-expected inflation all but removed the prospect of an August interest-rate hike with healthcare, consumer discretionary and consumer staples leading a broad-based rally.
A solid session locally, with the ASX 200 gaining 0.52% despite US futures remaining slightly lower. The move had the hallmarks of futures-led buying in Australia, with the SPI strengthening through the afternoon and broad gains across consumer discretionary, communications and healthcare, while the major banks also provided support.
The ASX kicked off the new week in fine form that to a pause in US-Iran strikes, putting some probability back on diplomacy. The early spike higher as US Futures rallied was held and built on as the day progressed. Oil traded down 6%, bond yields fell ~10bps and the US was sold, pushing the AUD back up through US70c.
The ASX 200 finished firmly lower today as renewed escalation in the Middle East pushed oil back toward US$100/barrel, reigniting inflation and interest-rate concerns. The Aussie 3-year bond yield was up +10bps to 4.72%, while the 10 year yield pushed through 5%, settling at 5.08%.
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