Indices: Australian ASX 200
The ASX200 is set to open up around +1.4% this morning, just as it did last Monday, this time it threatens to test the psychological 6900 area. If we follow Friday’s impressive performance on Wall Street the financials & tech stocks are likely to lead the gains although it’s hard to imagine investors chasing stocks into tomorrow’s RBA decision, especially after the positive outcome enjoyed last month i.e. have stocks already enjoyed their RBA sugar hit?
The ASX200 continues to climb a wall of worry closing up another +0.5% yesterday, well above the psychological 6800 level while also posting its best close in 6 weeks. The resources drove the market higher with heavyweights Woodside Energy (WDS), BHP Group (BHP), South32 (S32), and Newcrest Mining (NCM) all enjoying a good day at the office. If the banks had…
