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Afternoon report

The Match Out: RBA holds tight, stocks rally

While they’re still saying otherwise, the RBA is looking increasingly poised to cut rates in the coming months as inflation comes back into range and labour market pressures ease. Markets are pre-empting the move,  the Aussie Dollar down (65.31c), bond yields down, and equities up as we edge closer to D-Day for Michelle Bullock et al. However, at a sector level today, Materials & Energy stocks bounced nicely and Iron Ore rallied ~5% in Asia, implying some improving confidence around the outlook for the Middle Kingdom, we’re certainly positioned for it!
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The Match Out Market Matters
Afternoon report

The Match Out: Stocks in a holding pattern ahead of Central Bank meetings

A quiet start to the trading week ahead of important Central Bank meetings - the RBA is set to decide on rates tomorrow (no change expected) while the US Fed step up on Thursday, again, no change expected however the rhetoric and associated economic projections will be influential on markets. As it stands, markets are pricing on 3 cuts in the US and 1.6 cuts locally this side of Christmas, which seems on the money from MM’s perspective. i.e. markets and central banks now seem aligned.
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The Match Out Market Matters
Afternoon report

The Match Out: Early weakness entices bargain-hunting

The market was hit particularly hard early on today, down ~120 points at the 11.30am low before buyers of the dip came roaring in, cutting those losses by 2/3rds with a very strong afternoon session into an index re-weight at the close.
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The Match Out Market Matters
Afternoon report

The Match Out: The Banks cop a beating, but the rest helped offset the pain

The local market started higher however it wasn’t long before the pressure coming from the Financials sector took the market into the red for the session. Macquarie moving negative on its Big 4 peers saw the space take ~35pts off the ASX200 today. The Resources sector did a lot of heavy lifting in an effort to offset the banks, it appears money was rotating through the market today rather than outright selling of the banks.
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The Match Out Market Matters
Afternoon report

The Match Out: ASX ticks up, Retailers rally, Materials struggle.

A choppy but mildly positive session with exactly half the stocks in the ASX 200 up, while half fell, the retailers attracted some buying into recent weakness while the material stocks remained on the nose despite a recent bounce in Chinese equities- BHP is back testing the bottom of its trading range ~$42.
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The Match Out Market Matters
Afternoon report

The Match Out: Some support found, eyes on US inflation tonight

A far more stable session today after yesterday’s fireworks, the local market looked to recoup some of the pain of Monday’s trade early on. The bounce didn’t last long though, up +32pts/+0.4% at its best early only on close just marginally higher – much of the headwind came from BHP which hit its lowest level since May last year.
Read more
The Match Out Market Matters
Afternoon report

The Match Out: Little resistance shown by equities in a soft session

A few cracks appeared in equities today, the index giving back all of the gains banked from last week and peeling back from all-time highs. It was a broad sell-off for the market, with all sectors closing lower in the ASX200’s biggest drop since 10 March 2023, a year ago almost to the day.
Read more
The Match Out Market Matters
Afternoon report

The Match Out: Highest ever close for the ASX200 at 7763

The highest-ever close for the ASX200 today at 7763, particularly impressive with BHP and Woodside trading ex-dividend! Strength was broad-based, more than 150 stocks in the 200 closed higher as we continue to bask in the glory of a supportive economic and monetary policy scenario, for now at least!
Read more
The Match Out Market Matters
Afternoon report

The Match Out: ASX grinds higher as banks push on

A solid effort from the ASX today given weakness in the US overnight (Dow -404pts) however SPI Futures had implied we’d do better, with the ASX finishing in the green and ~30pts above the early lows. The direction of least resistance is still up with the missing piece just the miners…
Read more
The Match Out Market Matters
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Latest Reports

Afternoon report

The Match Out: Stocks in a holding pattern ahead of Central Bank meetings

A quiet start to the trading week ahead of important Central Bank meetings - the RBA is set to decide on rates tomorrow (no change expected) while the US Fed step up on Thursday, again, no change expected however the rhetoric and associated economic projections will be influential on markets. As it stands, markets are pricing on 3 cuts in the US and 1.6 cuts locally this side of Christmas, which seems on the money from MM’s perspective. i.e. markets and central banks now seem aligned.

The Match Out Market Matters
Afternoon report

The Match Out: Early weakness entices bargain-hunting

The market was hit particularly hard early on today, down ~120 points at the 11.30am low before buyers of the dip came roaring in, cutting those losses by 2/3rds with a very strong afternoon session into an index re-weight at the close.

The Match Out Market Matters
Afternoon report

The Match Out: The Banks cop a beating, but the rest helped offset the pain

The local market started higher however it wasn’t long before the pressure coming from the Financials sector took the market into the red for the session. Macquarie moving negative on its Big 4 peers saw the space take ~35pts off the ASX200 today. The Resources sector did a lot of heavy lifting in an effort to offset the banks, it appears money was rotating through the market today rather than outright selling of the banks.

The Match Out Market Matters
Afternoon report

The Match Out: ASX ticks up, Retailers rally, Materials struggle.

A choppy but mildly positive session with exactly half the stocks in the ASX 200 up, while half fell, the retailers attracted some buying into recent weakness while the material stocks remained on the nose despite a recent bounce in Chinese equities- BHP is back testing the bottom of its trading range ~$42.

The Match Out Market Matters
Afternoon report

The Match Out: Some support found, eyes on US inflation tonight

A far more stable session today after yesterday’s fireworks, the local market looked to recoup some of the pain of Monday’s trade early on. The bounce didn’t last long though, up +32pts/+0.4% at its best early only on close just marginally higher – much of the headwind came from BHP which hit its lowest level since May last year.

The Match Out Market Matters
Afternoon report

The Match Out: Little resistance shown by equities in a soft session

A few cracks appeared in equities today, the index giving back all of the gains banked from last week and peeling back from all-time highs. It was a broad sell-off for the market, with all sectors closing lower in the ASX200’s biggest drop since 10 March 2023, a year ago almost to the day.

The Match Out Market Matters
Afternoon report

The Match Out: ASX 200 breaks 7800 for the first time, only blue sky above!

Another new all-time high on a very bullish Friday, the ASX 200 trading above 7800 for the first time, as the banks continue to drive gains at the index level. CY24 to date, the ASX is now up 3.4% excluding dividends as the ‘Goldilocks’ scenario for stocks seems to be playing out.  

The Match Out Market Matters
Afternoon report

The Match Out: Highest ever close for the ASX200 at 7763

The highest-ever close for the ASX200 today at 7763, particularly impressive with BHP and Woodside trading ex-dividend! Strength was broad-based, more than 150 stocks in the 200 closed higher as we continue to bask in the glory of a supportive economic and monetary policy scenario, for now at least!

The Match Out Market Matters
Afternoon report

The Match Out: ASX grinds higher as banks push on

A solid effort from the ASX today given weakness in the US overnight (Dow -404pts) however SPI Futures had implied we’d do better, with the ASX finishing in the green and ~30pts above the early lows. The direction of least resistance is still up with the missing piece just the miners…

The Match Out Market Matters
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