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A200
MM remains bullish towards the ASX200 around 8725
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IVV
MM is bullish towards the S&P 500 around 7600
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NST
MM is bullish towards NST around $21
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JBH
MM remains long & bullish JBH ~$71
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CRM US
MM is now bullish CRM ~$US200
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GTK
MM has turned bullish on GTK ~$3.50
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Latest Reports

Morning report

Portfolio Positioning: Hedge Funds Are Circling the ASX with Northern Star (NST) in the Crosshairs

The ASX performed resolutely on Tuesday to reverse early triple-digit losses and end the day down just -0.1%. In line with the 2026 playbook, the heavyweight miners, ably supported by the tech stocks, largely offset weakness in the banks, rate-sensitive stocks and the broader market, which saw over 60% of the main board close lower on the day. It's becoming repetitive of late, but +1.4% rally by BHP Group (ASX: BHP), to another all-time high, combined with positive moves by RIO Tinto (ASX: RIO) and Northern Star (ASX: NST) to add 30-points to the index, but weakness in the banks, and in particular ANZ, Westpac and NAB was enough to take more than 20-points from the index.

Afternoon report

The Match Out: ASX claws back early losses – tech leads the bounce as Fair Work spooks the consumer sector

The ASX had another volatile session, falling sharply in early trade before recovering the bulk of its losses through the afternoon. The market was caught between a strong lead from Wall Street's record highs and fresh uncertainty around the Middle East, with conflicting signals on ceasefire negotiations keeping oil prices elevated and broader sentiment cautious.

The Match Out Market Matters 2
Morning report

What Matters Today: Have the ASX Tech Stocks Bottomed?

The ASX 200 struggled on Monday despite the bullish offshore leads from Wall Street - again, the Australian market remains more correlated to European bourses than the more widely discussed US peers. However, the local market managed to recover from early-morning weakness to end the first session of June marginally lower, as the miners again countered the ongoing weakness in the banking sector, primarily due to a 1% dip in Commonwealth Bank (ASX: CBA). With BHP Group (ASX: BHP) posting new all-time highs yesterday lunchtime and the “Big Four Banks” weighed down by concerns around the housing market post the budget, and high valuations compared to their international peers, we see no reason to fade the outperformance by the miners versus the banks:

Afternoon report

The Match Out: ASX flat but tech fires up, RDY jumps on takeover bid

The ASX opened lower and chopped around for most of the day until a sustained upward move in the afternoon pulled the index back to close near flat. Belief in a potential US-Iran ceasefire continued to be hold firm despite a rebound in oil prices, though there was plenty of action under the surface. Technology was the standout sector, with local software stocks tracking the positive move in the U.S on Friday night, while Banks and Healthcare names dragged.

The Match Out Market Matters 2
Weekend report

Weekend Q&A: The RBA finally looks set to provide some interest rate relief this week

The ASX200 ended the week surging +1.6% higher on Friday, turning around the market's fortunes to end the week up +0.9%, and up +0.5% for May - a clear demonstration that investors need to look through the volatile noise emanating from the US-Iran War. It was another week of sharp daily swings as markets rode the emotional roller-coaster of the conflict. However, sentiment improved into Friday after reports emerged that the US and Iran had agreed to a tentative 60-day ceasefire extension to allow further negotiations over Tehran’s nuclear program, raising hopes the three-month conflict may finally be moving towards de-escalation.

Afternoon report

The Match Out: ASX surges as ceasefire sparks a broad peace dividend rally

The ASX 200 bounced back strongly today, recovering almost all of yesterday’s losses as reports of a tentative 60-day ceasefire extension between the US and Iran sparked a broad risk-on rally. Falling oil prices, easing inflation concerns and lower bond yields fuelled buying across the market, with Materials, Technology and Real Estate leading gains while Energy lagged as crude slipped to five-week lows.

The Match Out Market Matters 2
Morning report

ETF Friday: Four ASX-listed ESG-focused ETFs as interest piques

The ASX200 was clobbered 1.4% on Thursday as the US struck Iranian military targets for the second time this week and Kuwait said it responded to missile and drone threats, highlighting the fragility of the “so-called” ceasefire. Crude oil popped ~3% on the news, sending Asian indices and US futures sharply lower, with no clear end in sight to the geopolitical uncertainty. Global equities, not so much the ASX, may want to rally, but with roughly 20% of global oil and LNG supply effectively constrained by disruptions through the Strait of Hormuz, the market will need to see the waterway reopen soon, or the confidence currently underpinning risk assets may begin to fade quickly.

Afternoon report

The Match Out: ASX falls as Middle East tensions flare again

A tough session for the ASX today following fresh escalation in the Middle East. The local market turned sharply lower after Iran claimed it had targeted a US military base following American airstrikes near Bandar Abbas, reigniting fears around oil supply disruptions with U.S President Donald Trump objecting to Iran’s claim to the Strait of Hormuz and asserting no one nation should control the vital waterway – a key sticking point in resolving the crisis.

The Match Out Market Matters 2
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Market Matters Weekly Portfolio Wrap: Elliott Targets Northern Star, Software Turns, JB Hi-Fi looks Oversold.

Market Matters Growth portfolio outperformed the ASX 200 this week (+1.04% vs +0.77%), with WiseTech (WTC) and Xero (XRO) surging 15% and 14% respectively after the portfolio rotated out of ResMed and into Pro Medicus. The big story was activist hedge fund Elliott taking a ~US$1 billion stake in Northern Star (NST) — triggering a 14% single-session rally — with MM turning bullish around $21 on the view that Elliott’s push for a strategic review and new CEO can unlock significant value in NST’s world-class but chronically underperforming assets. Salesforce (CRM) joined the buy list at ~US$210, where MM sees a beaten-up enterprise software giant trading at a mid-teens multiple that doesn’t need hyper-growth to re-rate — just proof it isn’t ex-growth. JB Hi-Fi (JBH) was also highlighted as a buying opportunity around $71 after the Fair Work Commission’s 4.75% minimum wage increase hammered discretionary retail — MM’s view being that while higher wages lift costs, they also put more money in the pockets of lower-income consumers who spend heavily in JBH’s core categories.

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