The ASX dropped to open the session but clawed back some of the losses through the day with the local market digesting fresh US strikes on Iranian targets this morning. While the escalation initially rattled sentiment, investors seemed reluctant to panic, with oil prices remaining relatively subdued despite the developments.
The ASX finished modestly higher to start the week as oil prices fell more than 5% on growing optimism that a US-Iran deal to reopen the Strait of Hormuz could be imminent.
The ASX edged higher to close out a mildly positive week, helped by improving reports on the Middle East and softening expectations for Australian interest rates. Miners and Energy stocks led the line today, though it’s been a particularly volatile week, with several triple digit moves, even though we’ve ended only +0.3% above where we started.
The best in six weeks for the ASX today with positive leads from the US and a surprise jump in unemployment reduced rate hike expectations. Oil prices down, bonds yields down and stocks up – hopefully, a sign of things to come.
The ASX fell to a seven-week low as bond yields surged to multi-decade highs on war-driven inflation fears, with miners and banks bearing the brunt of a broad global risk-off session.
The ASX bounced strongly today, recovering most of yesterday’s selloff as oil prices pulled back and fears of an imminent escalation in the Middle East eased slightly. A modest improvement in the tone around negotiations was enough to spark a rebound in risk appetite with the market opening firmer and consolidating through the session.
The ASX opened lower and looked weak throughout the session today, with the 8500 level providing some support through the afternoon, though there were few real signs of a meaningful bounce. Rising oil prices and another sharp move higher in bond yields continued to weigh heavily on sentiment as markets grapple with the prospect of higher for longer outlook on rates.
The ASX finished the week on a softer note, with the index dragged lower by a sharp reversal in the miners following a strong run in commodity-linked names. Materials had been the market’s engine room recently, helped by record highs in copper and gold, but profit-taking arrived today as copper eased on signs higher prices are starting to bite into Chinese demand, while gold also softened as traders reassessed the outlook for US rates following hotter inflation data during the week.
The ASX snapped a 4 session losing streak today and although the market lost momentum through the middle of the session, buyers gradually re-emerged into the close with the index finishing modestly higher.
The ASX slipped for a fourth straight session today as a sharp selloff in CBA following a softer quarterly weighed heavily on the broader market, with the market also digesting the implications of last night’s Federal Budget and its proposed changes to negative gearing and capital gains tax concessions.
The ASX finished modestly higher to start the week as oil prices fell more than 5% on growing optimism that a US-Iran deal to reopen the Strait of Hormuz could be imminent.
The ASX edged higher to close out a mildly positive week, helped by improving reports on the Middle East and softening expectations for Australian interest rates. Miners and Energy stocks led the line today, though it’s been a particularly volatile week, with several triple digit moves, even though we’ve ended only +0.3% above where we started.
The best in six weeks for the ASX today with positive leads from the US and a surprise jump in unemployment reduced rate hike expectations. Oil prices down, bonds yields down and stocks up – hopefully, a sign of things to come.
The ASX fell to a seven-week low as bond yields surged to multi-decade highs on war-driven inflation fears, with miners and banks bearing the brunt of a broad global risk-off session.
The ASX bounced strongly today, recovering most of yesterday’s selloff as oil prices pulled back and fears of an imminent escalation in the Middle East eased slightly. A modest improvement in the tone around negotiations was enough to spark a rebound in risk appetite with the market opening firmer and consolidating through the session.
The ASX opened lower and looked weak throughout the session today, with the 8500 level providing some support through the afternoon, though there were few real signs of a meaningful bounce. Rising oil prices and another sharp move higher in bond yields continued to weigh heavily on sentiment as markets grapple with the prospect of higher for longer outlook on rates.
The ASX finished the week on a softer note, with the index dragged lower by a sharp reversal in the miners following a strong run in commodity-linked names. Materials had been the market’s engine room recently, helped by record highs in copper and gold, but profit-taking arrived today as copper eased on signs higher prices are starting to bite into Chinese demand, while gold also softened as traders reassessed the outlook for US rates following hotter inflation data during the week.
The ASX snapped a 4 session losing streak today and although the market lost momentum through the middle of the session, buyers gradually re-emerged into the close with the index finishing modestly higher.
The ASX slipped for a fourth straight session today as a sharp selloff in CBA following a softer quarterly weighed heavily on the broader market, with the market also digesting the implications of last night’s Federal Budget and its proposed changes to negative gearing and capital gains tax concessions.
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