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As subscribers may have read, NEXTDC (NXT) is tapping the market for $1.3bn; some investors might be tempted to fund the raise by the data centre operator with other ASX tech names, hence today’s report. Last night’s +1.65% surge by the NASDAQ-100 illustrated there’s still plenty of life left in the sector, especially if we do see the Fed and ECB start cutting rates this year. For all of the talk around excessive valuations and sticky inflation, the US tech sector is still less than 1% below its all-time high.

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Latest Reports

Morning report

What Matters Today: Re-evaluating our 3 worst positions in the Active Growth Portfolio

Cutting losses defines a portfolio's performance as much as picking winners; hence, this morning, we revisited the 3 stocks in our Active Growth Portfolio that are in the worst shape on paper. Taking a loss is never fun, but it's all part of investing and an area that many seem to struggle with. We’ve gotten better at it over the years and approach the decision with very little emotion, and we hope to pass that ability onto our readers. We run real money portfolio’s published on the Market Matters Website and members can see our recent sales at the bottom of each portfolio going back several years, although there are few we would rather not be reminded of!

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Afternoon report

The Match Out: ASX bails out of a crack at new highs, Webjet impresses

It was a flat session for the ASX today, although a lot was happening under the hood with a bunch of trading updates causing some big moves on both sides of the ledger. Early strength was sold into as equities shied away from a crack at all-time highs today.

The Match Out Market Matters
Morning report

Portfolio Positioning: The clock is ticking for BHP

The potential ~$64bn takeover of Anglo-American (AAL LN) by BHP has dominated the news in recent weeks, but the clock is ticking, at 5pm London time tonight, the door will close, for now at least. It will come as no great surprise if BHP walks as Anglo’s CEO Duncan Wanblad and the rest of the AAL board appeared to have no interest in discussing a bid – at least at the current price point BHP’s offer was implying. However, there is still a chance that BHP could lob in a “best a final” conservative bid aimed at disgruntled shareholders before the window closes, making BHP a tricky proposition at current levels.

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Afternoon report

The Match Out: ASX drifts lower, Hardies (JHX) tanks

A lacklustre session at the index level today, although a few bits of corporate news created some interest, mostly on the downside with slightly softer guidance a common trait.  

The Match Out Market Matters
Morning report

What Matters Today: Should we chase or fade the breakout in gold?

Gold made new all-time highs this week as precious metals continued their advance even when fund managers, according to the recent Bank of America Fund Managers Survey, believe they are the most overvalued since 2020. The recent move was aided by a pullback in bond yields on renewed optimism towards rate cuts and the subsequent weakness in the $US. We are a little torn towards what comes next for gold and its related stocks, although if we were traders, it would be “long or square”, most definitely not short.

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Afternoon report

The Match Out: Commodities underpin market gains

Another strong session for the ASX underpinned by good buying amongst the Energy, Materials & IT sectors that all rallied more than 1%. China has pulled more stimulus levers over the last few days, and although they are targeted, as was previously flagged by Beijing, it does feel like Xi Jinping has drawn a line in the sand. That, coupled with the prospect of lower interest rates/bond yields, equities are running, and for now, we’ll enjoy the upside.

The Match Out Market Matters
Morning report

Macro Monday: Beijing presses the stimulus button – watch the miners

China has pulled more stimulus levers over the last few days, and although they are targeted, as was previously flagged by Beijing, it does feel like Xi Jinping has drawn a line in the sand after recent economic data signalled the need for urgent action. The property sector, once an integral driver of economic growth, is still struggling with prices for new homes across 70 cities having declined for the last ten consecutive months after falling 0.6% in April, with property investment down a whopping -9.8% in the 1st four months of 2024 compared to last year. April's fall represents the fastest month-on-month rate of decline in more than nine years, although interestingly, real estate stocks are starting to bounce.

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Weekend report

Weekend Q&A: Rate cuts are back on the table, both home and abroad

The ASX200 enjoyed another solid week, finishing up +0.8% after retesting its all-time high on Thursday following market-friendly US inflation data on Wednesday night AEST. This week was a huge win for the Doves, with major economic data in both the US and Australia pointing towards an economic slowdown and inflation that might not be as sticky as many feared throughout April

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