What Matters Today: Will MM like infrastructure stocks if the RBA cuts interest rates?

The Dow Jones tumbled over 500 points on Thursday night, although it’s the only major US index on track to finish the week higher. As we enter the gauntlet of the seasonally weakest two months, there’s room for further downside in the coming weeks, with markets trading at lofty valuations around all-time highs. With stocks already factoring in three rate cuts into January, there is room for disappointment. Ironically, Nvidia (NVDA US) and Meta Platforms (META US) bounced overnight after their recent sharp falls leaving the sellers to focus on the broad market.

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Weekend report 05/07/2025 09:44

Weekend Q&A: The ASX200 closes above 8600 for the first time

The ASX200 advanced another 1% last week, closing above the psychological 8600 level for the first time. The healthcare, real estate, and materials sectors all closed up around 3%, while the financial sector was the weakest over the five days, closing down 0.7%. For the market to extend the recent gains, it will need to shrug off high valuations and lack of earnings growth, although, as we saw last week, the resources stocks can do some of the heavy lifting after experiencing a tough 18 months.

Afternoon report 04/07/2025 17:03

The Match Out: ASX up ~1% for FY26, Resources find some love

A quiet end to a solid week for stocks, chalking up a positive move to kick off FY26. The FY25 trend of buying certainty at any price has taken a (slight) knock, with sectors and stocks representing better value attracting more flows this week.

Morning report 04/07/2025 09:19

ETF Friday: Using ETFs to ride the resources rally

The ASX 200 finished unchanged on Thursday, but on the stock level, it was a very different story, with the materials sector surging over 3% while 8 of the mainboard 11 sectors retreated, including the financials, which fell 1.3%, a very different story to the last 18 months.

Afternoon report 03/07/2025 17:05

The March Out: ASX flat, though plenty of fireworks under the hood

The sector/stock divergence that we’ve been highlighting recently stepped up a notch today as BHP outperformed CBA by more than 7% while there was some big moves in some of the beaten down commodities in particular following positive trends overseas.

Alerts 03/07/2025 10:01

Trade Alerts – Income Portfolio

We are making several changes to the Income Portfolio today

Morning report 03/07/2025 09:37

What Matters Today: Fund managers start to fire as the ASX tests all-time highs

The ASX200 enjoyed a strong session on Wednesday, briefly taking the market back above 8600 before drifting back slightly into the close. The miners led the gains from a points perspective, with the materials sector contributing almost 50% of the day's gain, led by BHP, which delivered 18% of the advance on its own. However, from a sheer performance perspective, the fund managers dominated the winners' enclosure, taking out the top 3 spots - more on these guys later.

Afternoon report 02/07/2025 16:59

The Match Out: ASX knocks on all-time high, Domino’s dusted!

Some volatility on the stock level hit today, with Dominos whacked as the new CEO resigns, Helius lost another big customer and fell ~20% while UBS scattered a couple of Tom Thumbs in the wealth/funds management sector, taking a more favorable stance – a topic we’ll look at tomorrow morning. By the close, the market was back testing 8600, some 80 points above the midday low, and the bullish vibe has now hit July!

Alerts 02/07/2025 15:25

Trade Alert – International Equities Portfolio

We are trimming an international stock after a strong run

Income Report: Asset allocation framework when targeting income

Morning report 02/07/2025 09:55

Portfolio Positioning: MM is looking to “tweak” portfolios into FY26

The ASX200 has started July in subdued fashion, remaining unchanged after its first two trading sessions. As would be expected after a quiet start to the week and month, news was thin on the ground, but we did see some action starting to unfold on the stock level.

Afternoon report 01/07/2025 16:58

The Match Out: A flat start to FY26 for Aussie stocks

A lacklustre first trading session of FY26 with the index trying to push higher early but faltering before the closing bell. All those itching to sell CBA can now do so without paying tax for a while prompting some re-allocation amongst the banks - ANZ the standout today up +2.5% while CBA fell by 1.2%. It was fairly quiet elsewhere.