The ASX surrendered early gains and finished mildly lower after a hotter-than-expected December CPI reading firmed market expectations of a February rate hike from the RBA.
The ASX closed higher after a day off, buoyed by a powerful rally in precious and base metals stocks, with gold climbing to yet another all time high, now seemingly setting a new record every day, and Copper stocks chipping in too. While geopolitical noise remains in the background, the session had a risk-on feel as the rotation into resources showed no signs of slowing down with the index closing at its highest level since October.
The ASX finished modestly higher as a rare day of strength for the IT stocks and continued support for the gold miners offset broader caution across banks and consumer shares. While the headlines have cooled through the week, geopolitical tension and rake hike expectations continue to reinforce nervous sentiment, as the market positions for what will likely be a volatile reporting season ahead – both here and in the US.
The ASX proved resilient today, shaking off a stronger-than-expected jobs report that lifted rate-hike expectations for the February RBA meeting. Tariff fears eased as President Trump softened his stance on Europe and Greenland underpinning sentiment, with strength across the banks and energy sector more than offsetting weakness in gold, allowing the market to hold solid gains into the close.
The ASX fell for a third consecutive session, although strength in some pockets (resources) was enough to only see modest declines at the index level. Tech and banks the major drags, while Gold rallied another $US100/oz to hit yet another record high at $US4871/oz - so much for it being a crowded trade!
The ASX traded lower for a second consecutive session as renewed trade tensions rattled global risk appetite, following President Trump’s threat to impose fresh tariffs on European nations over Greenland.
Weakness crept back into the market today as more traders got back behind their desks post Christmas break, with volumes increasing across the board. After a flat start to trade, US Futures came under pressure as Trump threatened 10% tariffs on several European countries from February, rising to 25% in June, unless the European Union agrees to negotiations linked to the “purchase of Greenland”.
A softer session today, giving back a portion of yesterday's solid move, though trading was quiet; volumes anemic and most focus is now on the Christmas break, with a 2.10pm close this afternoon.
The ASX finished sharply higher, extending its pre-Christmas rally as broad-based buying pushed the market to a six-week high and saw all sectors finish higher for the second day in a row. Optimism around US rate cuts, light year-end volumes and strong US markets overnight combined to lift risk appetite, with real estate and technology leading gains.
The ASX surged today, as a rally in commodities combined with rising expectations of further US Federal Reserve rate cuts lifted risk appetite into the Christmas break. Gold was the standout driver, with energy and uranium stocks joined the rally, and banks posting modest gains, cooling from early strength.
The ASX closed higher after a day off, buoyed by a powerful rally in precious and base metals stocks, with gold climbing to yet another all time high, now seemingly setting a new record every day, and Copper stocks chipping in too. While geopolitical noise remains in the background, the session had a risk-on feel as the rotation into resources showed no signs of slowing down with the index closing at its highest level since October.
The ASX finished modestly higher as a rare day of strength for the IT stocks and continued support for the gold miners offset broader caution across banks and consumer shares. While the headlines have cooled through the week, geopolitical tension and rake hike expectations continue to reinforce nervous sentiment, as the market positions for what will likely be a volatile reporting season ahead – both here and in the US.
The ASX proved resilient today, shaking off a stronger-than-expected jobs report that lifted rate-hike expectations for the February RBA meeting. Tariff fears eased as President Trump softened his stance on Europe and Greenland underpinning sentiment, with strength across the banks and energy sector more than offsetting weakness in gold, allowing the market to hold solid gains into the close.
The ASX fell for a third consecutive session, although strength in some pockets (resources) was enough to only see modest declines at the index level. Tech and banks the major drags, while Gold rallied another $US100/oz to hit yet another record high at $US4871/oz - so much for it being a crowded trade!
The ASX traded lower for a second consecutive session as renewed trade tensions rattled global risk appetite, following President Trump’s threat to impose fresh tariffs on European nations over Greenland.
Weakness crept back into the market today as more traders got back behind their desks post Christmas break, with volumes increasing across the board. After a flat start to trade, US Futures came under pressure as Trump threatened 10% tariffs on several European countries from February, rising to 25% in June, unless the European Union agrees to negotiations linked to the “purchase of Greenland”.
A softer session today, giving back a portion of yesterday's solid move, though trading was quiet; volumes anemic and most focus is now on the Christmas break, with a 2.10pm close this afternoon.
The ASX finished sharply higher, extending its pre-Christmas rally as broad-based buying pushed the market to a six-week high and saw all sectors finish higher for the second day in a row. Optimism around US rate cuts, light year-end volumes and strong US markets overnight combined to lift risk appetite, with real estate and technology leading gains.
The ASX surged today, as a rally in commodities combined with rising expectations of further US Federal Reserve rate cuts lifted risk appetite into the Christmas break. Gold was the standout driver, with energy and uranium stocks joined the rally, and banks posting modest gains, cooling from early strength.
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