Bang! The ASX broke out of its recent tight trading range today, trading above 8700 for the first time, buoyed by coordinated buying across the material and healthcare sectors, with technology also having a good crack. Softer employment data yesterday brings into play 3 rate cuts this side of Christmas, which is a bullish catalyst, however, today looked more momentum driven, with a clean break above a 6-week trading range, dovetailing in with low school holiday volumes – a quick trip into the city this am and a strong market – a win/win
A positive open this morning, but the buyers really kicked into gear following softer employment data out at 11.30am which opens the door for a rate cut at the next meeting, they should have cut last week! Rate sensitive sectors faired best, though the love was broadly spread with 80% of the main board ending higher.
The ASX had its worst day since 5th May today, which implies we’ve had a pretty good run in stocks despite ongoing trade uncertainty. The market was hit on the open, with all sectors trading in the red before recent trends emerged; banks experiencing ongoing selling while resources bounced from their intra-day nadir.
A new all-time closing high for the ASX today, with the index pushing comfortably above 8600 driven by broad based buying with 75% of the main board closing higher – only one sector failed the make gains.
Energy & Resources led the charge today with BHP back knocking on the door of $40, and is now up more than 8% in FY26 relative to Comm Bank (CBA) which has fallen ~3%.
The ASX 200 once again knocked its head on the 8600 level today, with a strong open sold into as US Futures tracked lower during our time zone after news emerged of a potential 35% tariff on imports from Canada to the US.
Between copper, pharmaceutical and country-specific tariffs sprayed across the globe by U.S President Donald Trump overnight, there was plenty on the macro front for the local bourse to digest today.
A weaker session today as Copper tariff news created some volatility amongst the resources, gold stocks were weak, while rate sensitive areas like property felt the pinch from the RBA reticence to cut rates yesterday.
No trade in the US on Friday night (Independence Day), so a quiet session to kick things off locally ahead of some key data points this week. The RBA should cut rates tomorrow which would be their first back-to-back move in 6-years, while we await the tariff deadline in the U.S on Wednesday night.
A positive open this morning, but the buyers really kicked into gear following softer employment data out at 11.30am which opens the door for a rate cut at the next meeting, they should have cut last week! Rate sensitive sectors faired best, though the love was broadly spread with 80% of the main board ending higher.
The ASX had its worst day since 5th May today, which implies we’ve had a pretty good run in stocks despite ongoing trade uncertainty. The market was hit on the open, with all sectors trading in the red before recent trends emerged; banks experiencing ongoing selling while resources bounced from their intra-day nadir.
A new all-time closing high for the ASX today, with the index pushing comfortably above 8600 driven by broad based buying with 75% of the main board closing higher – only one sector failed the make gains.
Energy & Resources led the charge today with BHP back knocking on the door of $40, and is now up more than 8% in FY26 relative to Comm Bank (CBA) which has fallen ~3%.
The ASX 200 once again knocked its head on the 8600 level today, with a strong open sold into as US Futures tracked lower during our time zone after news emerged of a potential 35% tariff on imports from Canada to the US.
Between copper, pharmaceutical and country-specific tariffs sprayed across the globe by U.S President Donald Trump overnight, there was plenty on the macro front for the local bourse to digest today.
A weaker session today as Copper tariff news created some volatility amongst the resources, gold stocks were weak, while rate sensitive areas like property felt the pinch from the RBA reticence to cut rates yesterday.
No trade in the US on Friday night (Independence Day), so a quiet session to kick things off locally ahead of some key data points this week. The RBA should cut rates tomorrow which would be their first back-to-back move in 6-years, while we await the tariff deadline in the U.S on Wednesday night.
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