The Match Out: ASX stalls as investors await Reporting Season
The ASX 200 plateaued today, failing to push to new highs despite a solid session overnight in the US, though there was no clear push in either direction after recent strength.
Shares extended their slide to three consecutive days following US markets lower in preparation for tonight’s FOMC meeting. Commodity-linked sectors of Energy and Materials saw the most pain today while a slight lift in local bond yields also weighed on Tech and Real Estate. Consumer sectors were surprisingly well supported though, as were Industrials as today’s weakness was not as broad-based as recent days – 40% of the ASX200 managed to close higher despite the index weakness.
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