Rinse & repeat, the trend for the week thus far as the market opens in an optimistic tone only to see selling pick up throughout the session – not even an improving inflation picture was enough to sustain early optimism, the best of the gains seen before midday.
Latest Reports
What Matters Today: How to play the Miners under Trump as the Fed cuts again
The ASX200 advanced +0.3% on Thursday, in a very different session from the one enjoyed by US equities following Trump's victory. Less than 55% of the local mainboard and 5 of the major 11 sectors closed in positive territory.The Match Out: ASX up as we contemplate the next 4-years under Trump!
An intriguing session today with our first crack at digesting what a Trump Presidency could mean locally. The overwhelming takeaway being higher interest rates are a negative for property & infrastructure, a stronger $US will hinder Gold & related equities which were hit , US earners should benefit and found some love, industrial commodities were okay given a better global growth outlook partially offsetting the headwind of a stronger greenback while the “drill baby drill” beneficiaries in mining services also found support.Trade Alerts – Active Growth Portfolio
We are making two changes to the Active Growth Portfolio TodayWhat Matters Today: How will MM tweak portfolios after Trump’s landslide victory?
The bookies again proved to be a far better gauge of politics than the polls, with Donald Trump steamrolling Kamala Harris in yesterday's election. We all know the result: the Republicans are poised to control the House and Senate, making Trump one of the most powerful Presidents in history, a far cry from a jail cell.The Match Out: ASX rallies as Trump looks odds on for a 2nd term
US equity futures rallied, bonds yields traded materially higher (US 10’s +18bps), the $US Dollar Index up +1.4%, the AUD down the same amount & Bitcoin +8% all indicate that Trump is now a very short Favourite to win a 2nd term in office.Portfolio Positioning: Australia’s economy remains “too strong” for rate cuts
Melbourne Cup Day saw the RBA leave interest rates at 4.35% while indicating they will remain at their 13-year high for some time. This is not ideal for Prime Minister Albanese, as a federal election is due between February and May. Labour has already started looking for votes from the younger generation by targeting fees/payments around further education.Macquarie Quants Calls for the Cup!
Each year, Macquarie's Quant team puts out their picks for the cup, and we've included the key points for Market Matters Members. Thanks to Macquarie for sharing the insights, and as always, punt with your head, not over it!What Matters Today: Stock market complacency is dangerous; look at luxury retail!
The ASX200 enjoyed a solid start to the Presidential election week, closing up +0.6%. The financials dragged the index higher throughout the session, contributing ~50% to the market's advance. Westpac (WBC) reversed an early intra-day ~2.5% loss to finish up +0.9% as investors digested its FY report.The Match Out: The banks drag the ASX higher into the US election
The ASX followed US S&P500 futures and Westpac (WBC) lower in the early morning before reversing higher throughout the day.Relevant suggested news and content from the site
UNLOCK MARKET MATTERS NOW
Take a free trial.
No payment details required.