The Match Out: Stocks rally, though optimism fades as the day progressed

The ASX rallied today, keying off a good session in the U.S predicated on positive tariff developments, though the move was somewhat disappointing/unconvincing. Stocks saw the best of it early, with a clear rotation out of defensives into cyclicals, and while some held their gains for the full session, others experienced profit taking, pushing the index ~45pts off it’s highs.

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Afternoon report 03/06/2025 17:01

The Match Out: Financials & Gold drive ASX to new 3-month highs

A solid day for the ASX hitting new 3-month highs buoyed by strength across the financial sector with an average gain across the big 4 banks of 1%, while gold stocks rallied as bullion tested ~$US3400/oz overnight

Morning report 03/06/2025 09:30

What Matters Today: As Gold Shines and Copper Climbs, is it time to revisit Lithium?

The ASX200 started June on the back foot, slipping 0.2%. Overall, this was not a bad performance, considering that further geopolitical uncertainty rattled global markets after a few quiet weeks; the S&P 500 futures were down ~0.5% during our trading session.

Afternoon report 02/06/2025 17:13

The Match Out: Commodities weigh on ASX as Trump restarts the tariff engine

Someone seems to have told Trump about the TACO term (Trump Always Chickens Out) which has gotten him firing again with higher tariffs on Steel imports and accusations that China is not holding up its end of the bargain, reducing tariffs while negotiations take place.

Morning report 02/06/2025 09:24

Macro Monday: Can the ASX make new highs into the EOFY?

Yet again, the “sell in May & go away” catchphrase played out as the myth that the statistics foretold. Although the stellar 3.8% gain was the second-best of the last decade. The most critical point when it comes to considering the seasonality of the ASX200 is to “Keep it Simple, Stupid” (KISS) with our favourite three factors looking forward towards Christmas.

Weekend report 31/05/2025 09:13

Weekend Q&A: As we approach the EOFY, the ASX200 is flirting with its all-time high

The ASX 200 rallied on the final trading day of May, closing up +0.3% for the session, leaving the index just ~2% below its all-time high. Overall, an excellent performance by the Australian bourse, advancing +3.8% for the month, shrugging off the ongoing uncertainty around tariffs and rising long-dated bond yields. However, a more dovish than expected RBA, a strong banking sector, suspicions of overseas buying, and a market caught underweight stocks after their dramatic “V-shaped” recovery from Trump's “Liberation Day” was enough to drive the local market back towards the 8600 area. With pullbacks well supported in one of the most hated bullish advances that we can recall, it makes for a compelling argument that new highs are just around the corner.

Afternoon report 30/05/2025 16:47

The Match Out: Sell in May (& go away) not the go this year, ASX gains 3.8%!

The final trading day of the month carried the ASX to a 3.8% gain over the period and now within ~200pts of all-time highs with investors brushing off tariff risk and shifting focus back to fundamentals.

Morning report 30/05/2025 10:18

What Matters Today: ETF Friday focuses on Fixed Income ETFs

The ASX 200 closed marginally higher on Thursday, and as we enter the last trading day of May, the index is up +3.5% with only the utilities sector dragging the chain. Although it's been a stellar month, yesterday's performance was a touch disappointing considering the global tailwinds.

Afternoon report 29/05/2025 17:16

The Match Out: ASX creeps higher as U.S trade court trumps tariffs… for now

The local market edged higher today after opening mildly weaker, lifted by strength in energy and tech stocks. A strong result from Nvidia pre-market sparked bullish sentiment toward AI enabling a +1.9% jump in NASDAQ futures, while the U.S Court of International Trade ruled against the Trump-imposed tariffs, fuelling ~30pt lift on the ASX mid-morning.

Afternoon report 29/05/2025 10:46

The Match Out: ASX cools, Goodman reconfirms guidance, MinRes cuts production

The market opened on the firm side, pushing to a new high in this recent recovery, before sellers took control post a very mildly hotter monthly inflation read. It actually felt more like index selling that dominated today, shown through both the financials and materials being the weakest links, with selling persisting throughout the afternoon.

Morning report 29/05/2025 09:39

What Matters Today: The Energy Sector is warming up nicely

The ASX 200 failed to build on a strong session on Wall Street, finishing down 0.1% on Wednesday, with weakness in the banks more than offsetting broader buying, as over 55% of the main board closed higher.