Afternoon report 03/08/2026 17:14

The Match Out: Good buying from morning lows see’s the ASX finish higher

The ASX 200 recovered from a weak start to finish +42pts higher today, a good ~80pt turnaround from the lows with utilities, industrials and consumer discretionary stocks leading the advance. Australian futures had initially pointed to a decline of around 1%, but sentiment improved after President Donald Trump called off planned strikes against Iran and pushed for renewed negotiations, reducing the immediate risk of a larger regional conflict.

Alerts 03/08/2026 16:39

Trade Alerts – International Equities Portfolio

We are making two changes to the International Equities Portfolio

Morning report 03/08/2026 09:45

Macro Monday: Hold on tight, ASX reporting season is about to begin

Despite a volatile month, the ASX 200 ended July up +2.3%, delivering almost exactly its average return over the past 20 years as the market heads into August. As we all know, there are “lies, damned lies, and statistics”, but keeping it simple, as the chart below illustrates, July is usually a very strong month for the local index:

Weekend report 01/08/2026 09:02

Weekend Q&A: Can 9000 become the new 8800?

The ASX 200 finished a volatile week up +2.3%, reaching a four-month high on Wednesday after softer-than-expected inflation data reduced fears of higher interest rates. The ASX shrugged off a sharp pullback earlier in the week by the “AI Trade” and a 1150-point drop by the Dow on Wednesday night after hawkish comments from Fed Chair Warsh - as we’ve been saying through July, the local market is slowly starting to get its “Mojo” back as we head into reporting season.

Afternoon report 31/07/2026 16:53

The Match Out: ASX outperforms US to end July up +2.3%

The ASX 200 finished modestly higher today, securing a fourth consecutive monthly gain despite giving back most of an early rally. The index traded as high as 9,059 before closing just +9 pts higher (down ~85pts from the open), with strong gains across materials, selected technology names and gold miners offset by weakness in healthcare, consumer staples and communications.

Morning report 31/07/2026 09:25

ETF Friday: Four ASX ETFs making major moves in July

The Dow recovered over half of Thursdays decline overnight as Microsoft surged +15.5% after strong Azure cloud growth reinforced confidence that AI infrastructure spending is yielding results, sparking a broad rebound across semiconductor stocks. The iShares Semiconductor ETF (SOXX) climbed more than +8%, with Micron Technology jumping +18% and AMD rising more than +13%, while South Korean memory giant SK Hynix rallied over +17%. The move reignited the momentum trade, with the iShares MSCI USA Momentum Factor ETF (MTUM) gaining more than +5% as investors rotated back into AI-linked names. In contrast, Meta Platforms fell 8% after issuing softer revenue guidance and reporting a 91% decline in second-quarter free cash flow. Volatility may be high at the stock level, but this earnings season continues to support US indices, with ~68% of stocks beating EPS and ~79% on the revenue line - the balance of the S&P 500 stocks are due to report in the coming fortnight, with the local names also getting ready to face the music in August.

Afternoon report 30/07/2026 16:46

The Match Out: ASX pulls back from 5-month high

The ASX 200 snapped a three-day winning streak today, retreating from yesterday’s five-month high as investors reduced risk following a sharp sell-off in the US. Materials and consumer stocks under most pressure, although strength across technology and selected energy names helped cushion the decline.

Morning report 30/07/2026 09:43

What Matters Today: Four stocks MM likes as the inflation outlook improves

The ASX 200 surged through 9000 yesterday, closing up +1% at a fresh 4-month high, supported by a soft inflation read (CPI). Gains were fairly broad-based for a triple-digit day with ~70% of the main board advancing, led by the rate-sensitive stocks. As we’ve alluded to in the last few morning reports, the ASX has been getting its mojo back of late, and the soft CPI hasn’t hurt the backdrop for local stocks. Even the Australian Financial Review quoted our comments along these lines overnight:

Afternoon report 29/07/2026 16:45

The Match Out: ASX rallies on softer inflation, hits 5-month high

The ASX 200 hit a five-month high today after softer-than-expected inflation all but removed the prospect of an August interest-rate hike with healthcare, consumer discretionary and consumer staples leading a broad-based rally.

Morning report 30/07/2026 09:44

Portfolio Positioning: The ASX is regaining its “Mojo”

The ASX 200 delivered a stellar albeit surprising performance on Tuesday, reversing early losses to close up +0.6%, posting a 6-week high in the process. The buying gathered momentum after lunch ahead of todays pivotal CPI inflation read, with bonds also strong; it felt like some hawks were squaring their positions in case the CPI comes in softer than expected. However, what was most impressive about the performance was the manner in which the local market shrugged off weakness across the region, where the KOSPI (-11%) and Japanese Nikkei (-4%) combined with weak US futures to paint a clouded picture for risk assets.