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The ASX200 enjoyed another strong day on Tuesday rallying +0.9%, although over 40% of the main board closed down on the day – it was a stellar performance from the Resources Sector that dragged the index higher e.g. BHP Group (BHP) +4.3%, Fortescue Metals (FMG) +3.8% and South32 (S32) +3.7%. One of the main themes over the last 6-months has been the huge gyrations across the relative stock/sector performances which definitely remains in play today:

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Latest Reports

Afternoon report

The Match Out: Market higher, our take on today’s results – there was plenty of them!

Following a stronger than expected result from retail goliath Walmart overnight, the retailers led the ASX higher today with both the consumer discretionary & consumer staples sectors leading the line, while a decline by CSL weighed on the healthcare sector. Overall, reporting continues to be better than expected, Aussie corporates showing resilience and guidance is holding up in a general sense, meaning that dips are being bought at the index level.  

The Match Out Market Matters
Morning report

Portfolio Positioning: Reporting seasons sorting the “wheat from the chaff”

Yesterday we said that it was unlikely the ASX200 could breach the psychological 7100 area before CBA trades ex-dividend this morning but we didn’t count on BHP hitting the ball out of the park with its FY’22 result – Tuesday saw the index rally 41-points to close at 7105 with BHP contributing almost 60% of the market’s advance. However, Commonwealth Bank (CBA) will trade ex-dividend this morning, $2.10 fully franked, which if all else is equal is like to take the market back towards 7050 in a quick fashion.

what matters today Market Matters
Afternoon report

The Match Out: ASX hits 2-month high, BHP delivers 2nd best result ever

A strong open to trade this morning with the market buoyed by a very positive update from BHP, however, the best of it was seen early before a few sellers crept out of the shadows mid-morning. Stepping back for a moment, the ASX 200 peaked at 7624 on the 20TH April, coincidentally on my 40th birthday, before falling 1217 points / 16% to 6407 on the 20th of June - hopefully not a broader omen on life! From that low, the market has rallied 724pts...

The Match Out Market Matters
Morning report

What Matters Today: The property stocks appear to be regaining their “Mojo”, is it time to buy?

The ASX200 knocked on the door of its August high yesterday before finally closing up +0.45% on broad based buying which saw over 67% of the main board close in positive territory. If it hadn’t been for a disappointing report from Bendigo Bank (BEN) which fell over 8% dragging much of the sector down in sympathy we could have been testing 7100 but with Commonwealth Bank (CBA) trading ex-dividend $2 fully franked on Wednesday it may prove a touch too much to ask this week.

what matters today Market Matters
Morning report

Macro Monday: Bonds & stocks aren’t drinking from the same fountain

Last week saw some inconsistencies / fascinating moves across financial markets which we believe were largely driven by investor positioning & sentiment but this might not continue if MM’s preferred scenario unfolds for bond yields. Last week was all about the US CPI and Wednesday’s number showed a much-welcomed slowdown in inflation which sent most indices soaring to their highest levels in over 3-months:

what matters today Market Matters
Weekend report

Ask James: The ASX200 feels “tired” above 7000

The ASX200 struggled last week considering the theoretically strong tailwind from a weak US CPI print and no major blow-ups from the local reporting season, the index did manage to scale fresh 9-week highs but by Fridays close it had only managed to close up +0.2%. The Resources Sector helped keep the index in positive territory, significantly assisted by BHP’s bid for OZ Minerals (OZL), but what probably caught most investors off-guard was a more than 2% pullback by the tech & healthcare sectors even after the deceleration by the main US inflation indicator.

Ask James Market Matters
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