Macro Monday: Step up the RBA – we hope!

It’s no secret that the RBA is expected to cut rates this week, with the futures market calling it an “87% probability.” However, the accompanying rhetoric is likely to drive local stocks in the coming weeks, especially with the market looking for two additional cuts into Christmas, taking the Cash Rate to 3.6%. Local rates have sat at a restrictive 4.35% since November 2023, and we think three cuts are likely to prove too dovish; Michele Bullock’s comments on Tuesday will be a classic case of the devil being in the detail.

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Afternoon report 20/03/2025 17:03

The Match Out: ASX rallies as the employment situation cools, May rate cut now on the cards

A very solid bounce back on the ASX today with ~85% of the main board finishing higher. Risk was back on with technology + market linked stocks leading the way, though resources lagged.

Morning report 20/03/2025 18:46

What Matters Today: Is BYD signalling it’s time to buy Lithium stocks?

The ASX 200 retreated 0.4% on Wednesday due to broad-based selling, with over 75% of the main board closing lower. The rate-sensitive utilities and real estate sectors underperformed, both falling by more than 1.3%, while the healthcare sector's 0.5% gain was the main glimmer of hope for the bulls.

Afternoon report 19/03/2025 16:58

The Match Out: ASX down, though showing signs of life

The worst of the session was seen early with the market attracting some bargain hunters as the day progressed despite a mixed bag in term of corporate updates. WiseTech (WTC) and Mineral Resources (MIN) in focus for the wrong reasons, while Myer (MYR) was also volatile after they released 1H25 results.

Morning report 19/03/2025 09:38

Portfolio Positioning: The market’s resilience set to be tested again

Tuesday saw local shares pare early gains to finish only slightly higher as US futures slipped away on escalating conflict in the Middle East. The ASX200 closed up just 6 points, surrendering almost 90% of its early morning gain, although over 60% of the main board managed to advance.

Afternoon report 18/03/2025 16:27

The Match Out: ASX edges higher, New Hope (NHC) reports & rallies

A solid start to trade this morning with the main board rallying back above 7900, however, sellers kicked into gear from just before midday with the index finishing ~60pts below the morning highs.

Morning report 18/03/2025 09:16

What Matters Today: The ASX Miners advance as Chinese Stocks & Economic Data improves

The ASX200 enjoyed its best day in two weeks on Monday, rallying +0.8%. Gains were driven by a strong performance from the miners and a solid supporting role by the banks; the combination of BHP, CBA, and ANZ contributed over 50% of the main boards' advance.

Afternoon report 17/03/2025 17:01

The Match Out: ASX snaps streak, closes up for second straight session

The ASX closed in positive territory for a second consecutive trading session, not seen since the market all-time high of 8615 was set back on February 14. The market opened strongly and didn’t look back as news that China would implement stimulus to support its share market and property market, as well as intent to boost real incomes, provided a broad boost to sentiment. Promising Chinese consumer data was out mid-morning, sustaining the move up through to the close.

Morning report 17/03/2025 09:21

Macro Monday: Cool heads will prevail in the current unnerving market

We all know that stocks have endured a tough few weeks as fears of an escalating Global Trade War and subsequent recession washed through risk assets. However, most pundits are blaming the new President, but we should remember a couple of related factors. With the S&P 500 trading at 27x reported earnings in January, Trump inherited one of the highest-priced stock markets in history.

Weekend report 15/03/2025 09:17

Weekend Q&A: Fears of a US recession drive ASX shares lower

It was another tough week for local stocks, with the ASX200 closing down another 2%, extending the aggressive pullback to 10.2%, the market's largest 4-week decline since 2020. Eight of the eleven mainboard sectors declined, spearheaded by the tech, healthcare, consumer discretionary, and financial sectors, all of which fell over 3%. Performance reversion was again the main game in town, with the resources performing well at the expense of many high-flyers over the last year.

Afternoon report 14/03/2025 17:21

The Match Out: ASX rallies and holds on stronger miners

With futures pointing down -12pts prior to the session following weak US markets, it looked all but certain we were in for another negative day but fresh all-time highs for gold and a bounce in iron ore overnight provided a much needed boost to the miners.