The ASX200 slipped -1.2% last week which was pretty impressive considering the carnage which unfolded across the Banking Sector following a softer underbelly to the result from Commonwealth Bank e.g. CBA -8.2% and NAB -5.8%. Reporting season will continue to dominate this week with large names such as APA, BHP, DMP, HUB, QAN, RIO, RHC and WOW stepping up to the plate – opportunities will undoubtedly likely be on offer.
- No change, we are still looking to slowly de-risk into strength although we remain buyers of decent dips on the stock/sector level.
MM remains neutral towards the ASX200 around 7350
Add To Hit List
On Friday US stocks closed mixed with the Dow up +0.4% while the tech-based NASDAQ slipped -0.7%, all-time highs for growth stocks may remain a distant memory but it’s only ~8% away for the old stalwart the Dow.
- The Dow looks very capable of following the UK and French indices to fresh all-time highs in 2023.
MM remains mildly bullish on US equities into early 2023
Add To Hit List
The EURO STOXX 50 is now only ~6% below its all-time high and while we aren’t keen buyers/chasers of the current strength a breakout to new highs feels almost inevitable which will test the numerous bears.
- With the UK FTSE and French CAC posting fresh all-time highs last week it’s hard not to be bullish at least to some degree.
MM is mildly bullish on European equities as we head through February.
Add To Hit List
