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A200
MM remains bullish towards the ASX200, around 9275
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IWV US
MM is bullish towards the Russell 3000 around 4380
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TTD US
MM is neutral TTD ~$US17
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COPX US
MM remains bullish toward copper around US$6.70/lb
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WIRE
MM is bullish towards the WIRE ETF around $24.50
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GDX
MM is bullish towards the GDX ETF around $104
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MVR
MM is bullish towards the MVR ETF around $46
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MM is bullish on lithium around US$2,000
VOLT
MM is cautiously bullish towards the VOLT ETF ~$6.50
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Latest Reports

Weekend report

Weekend Q&A: The ASX 200 manages to shrug off a Hot CPI – just!

The ASX 200 edged +0.37% higher last week courtesy of a strong close on Friday afternoon and another strong performance from the Materials sector (+2.5%). Earnings season remained broadly constructive, with estimated profit growth running at ~11%, although the improvement remains heavily concentrated in resources and energy, stripping those sectors out reduces growth to around ~5%. Financials have now fallen for three consecutive weeks amid housing and mortgage concerns, while Consumer Discretionary also struggled as higher rates and slowing housing activity weighed on earnings & sentiment following this week’s higher than expected CPI.

Afternoon report

The Match Out: Tech Roars Back as the ASX Shrugs Off Rate Jitters

The ASX 200 finished the week on a firmer footing, bouncing around after Thursday’s broad sell-off. The recovery was led by tech stocks, which snapped back strongly after a tough couple of sessions as Nvidia and Salesforce’s overnight rallies reignited enthusiasm for the AI trade and Software trades. The banks and miners also provided support, with seven of 11 sectors higher through the afternoon.

The Match Out Market Matters 2
Morning report

ETF Friday: Has NVIDIA just reignited tech ETFs?

The ASX 200 was clobbered on Thursday, as a trifecta of bad news overshadowed another impressive result from Nvidia. Selling was broad-based, with more than 75% of the main board leading the market's worst day since June. Globally, it was a session that favoured semiconductors over miners, an unfortunate combination for the local market given the ASX is heavily exposed to the latter and has virtually none of the former:

Afternoon report

The Match Out: ASX tumbles as RBA rate hike fears take hold

It was a slow and painful session today with the ASX sliding hour by hour through to the close in a broad-based sell-off, with 10 of 11 sectors lower, as yesterday’s hotter-than-expected CPI print drove bond yields higher and sharply increased expectations for another RBA rate hike.

The Match Out Market Matters 2
Morning report

What Matters Today: Sticky inflation, opportunity or worry?

The ASX 200 surrendered early gains on Wednesday after inflation data came in far stronger than expected, weighing heavily on overall sentiment and specifically the rate-sensitive names. Just to compound the market’s woes, yesterday's reporting wasn’t kind, with major disappointments from Worley (-10.8%), WiseTech (-10.1%), and Flight Centre (-7.4%) offsetting further strength in gold and copper names.

Afternoon report

The Match Out: Hot CPI knocks the ASX off its highs

The ASX 200 looked set for a third straight gain early on, trading as much as 0.6% higher to ~9220, before July inflation completely changed the tone of the session. The index reversed sharply after the release and ultimately finished lower with the market quickly pricing a greater chance that the RBA will need to go again on rates. Financials swung from an early gain into the red as higher rate expectations weighed on the market. Consumer Staples were the standout, holding onto a gain after a solid result from Woolies, while Materials remained one of the few reliable areas of strength early before giving back gains in the afternoon.

The Match Out Market Matters 2
Morning report

Portfolio Positioning: Copper stocks set for another big session

The ASX 200 enjoyed a more broad-based advance on Tuesday, with 70% of the main board closing higher, pushing the index up +0.7%. The banks finally gave the index a helping hand, but they still couldn’t figure in the top 3 stocks contributing to the market's 62-point advance; the podium was headed by BHP, again (+9 points), followed by CSL (+7-points), and Suncorp (+5-points). Elsewhere, we saw some profit-taking creep into the high-flying gold sector while the tech stocks more than picked up the slack, taking their cue from a reversal higher by the semiconductor-driven Korean KOSPI Index.

Afternoon report

The Match Out: ASX rises as ARB surges on result, insurers jump on Tokio Marine takeover speculation

The ASX 200 put together one of its better sessions in recent weeks as the market built on Monday’s gains and breadth improved markedly. Ten of the 11 sectors finished higher with Healthcare continuing its rebound, now 44% above its low set back in June. Financials were also notably stronger, finally delivering their first meaningful bounce in around two weeks after falling almost 10% across the previous 12 sessions. BHP hit yet another record high, as weakness across lithium, rare earths, gold and parts of the iron ore complex offset strength in the diversified miners and copper exposures.

The Match Out Market Matters 2
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The ASX200 extended its 10-day gain on Thursday to more than 550 points, or 6.4%, trading close to 9300 for the first time. The miners again drove the index higher, contributing ~60% to the day’s advance, although CBA came out of the shadow of BHP, contributing the most points (+9) to the index. Now the shackles have been broken, the ASX is outperforming its global peers so far in August, up +3.3% with reporting season kicking into gear next week:

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