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A200
MM remains bullish towards the ASX 200 into 2027 around 8800
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IVV
MM remains bullish towards the S&P 500 around 7650 into Christmas
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SOXX US
MM is now negative towards the SOX short term
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F100
MM is now cautiously bullish towards the UK FTSE around 10,900
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VGB
MM is now bullish towards local 3-year bonds – yields lower
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SHY US
We are cautiously bullish/neutral towards bonds (yields lower)
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OOO
MM is now neutral towards December oil around US$110/barrel.
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WIRE
MM remains bullish towards copper
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USD
MM remains bearish towards the US$ Dollar into 2027
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SEMI
Trade Idea: Buy Global X Semiconductor ETF (SEMI) using a limit of $25.70, with stops at $23.70, around 8% risk.
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WDS
MM is bullish towards WDS, targeting ~10-15% upside.
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Latest Reports

Morning report

Macro Monday: Bad news might just be good for the ASX

Thursday's employment data shocked the market and media alike, with employment falling by 39,300 compared to the 20,000 increase economists were expecting. Bad news for the government ahead of next month's Victorian State election, but a welcome reprieve for the RBA, with markets now pricing in only a ~40% chance of another 25bps rate hike before Christmas, although inflation could ultimately force their hand if oil prices keep rising. In 10 days, we get the September CPI (inflation data), which will go a long way in determining the next move on rates.

Weekend report

The Weekend Q&A: A rare week of local outperformance

The ASX 200 finished a volatile week up +1.0%, although the headline gain masked some fairly aggressive rotation beneath the surface. Utilities (+4.5%), Healthcare (+3.9%), Consumer Staples (+3.4%) and Financials (+3.2%) led the market higher, while Materials (-2.3%), Real Estate (-1.7%) and Information Technology (-1.3%) lagged. Investors continued to rotate into some of the more beaten-up and defensive areas of the market, while resources came under pressure.

Afternoon report

The Match Out: ASX jumps as beaten-up tech and miners lead recovery

The local market staged a broad recovery today as technology and materials stocks bounced back from heavy losses, supported by easing concerns around the global AI thematic, triggering renewed buying across oversold sectors though weakness in banks and consumer staples limited the advance.

The Match Out Market Matters 2
Afternoon report

The Match Out: ASX pares losses as softer jobs data lifts rate hopes

Local shares finished marginally lower as a defensive rotation into consumer staples and financials offset a sharp sell-off in miners, technology and data centre stocks, with softer domestic employment data providing some relief on interest rate expectations after hotter-than-expected US inflation reignited rate concerns overnight.

The Match Out Market Matters 2
Morning report

What Matters Today: Glencore (ASX: GLC) debut on the ASX – what may come next?

The ASX 200 was hit -0.6% on Wednesday for no obvious reason, with renewed selling in the banks the main weight, with the financials accounting for more than 70% of the index's decline. However, weakness was broad-based, with over 70% of the main board closing lower, and the miners adding to the market's woes, which unfortunately look set to extend today.

Afternoon report

The Match Out: ASX treads water as global chip rout hits growth stocks

A mixed session on the ASX today, with the index recovering from intraday losses to finish almost unchanged. Defensive sectors, energy and banks provided some support, but a sharp global semiconductor sell-off weighed heavily on Technology, while Materials and lithium stocks also came under pressure.

The Match Out Market Matters 2
Morning report

What Matters Today: How should we value AI Infrastructure stocks after the Firmus debacle?

The ASX 200 big guns started firing on Monday in a rare session of solidarity between the banks and heavyweight miners, the financials and materials combined to add 79-points to the ASX 200, which only closed up 66-points on the day! For a 0.8% gain it was unusual to see almost 50% of the main board close lower, such was the dominance of the likes of BHP (+2.5%) and Westpac (+2.7%).

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Thursday’s employment data shocked the market and media alike, with employment falling by 39,300 compared to the 20,000 increase economists were expecting. Bad news for the government ahead of next month’s Victorian State election, but a welcome reprieve for the RBA, with markets now pricing in only a ~40% chance of another 25bps rate hike before Christmas, although inflation could ultimately force their hand if oil prices keep rising. In 10 days, we get the September CPI (inflation data), which will go a long way in determining the next move on rates.

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