A bullish day for local stocks with the market supported by the dominate sectors, when Materials +2.2% & Financials +1.36% take spots 1&2 on the leader board it’s hard for the market to do anything but rally. The laggards were again the IT stocks while the Staples are continuing to lag. Overall though, a much more bullish session than overseas + local futures implied.
A very volatile Monday for the ASX with the market down sharply (-74pts) early on only to claw back the bulk of the decline by the close to finish only a few points into the red. The financials were soft following ANZ’s update while the travel stocks enjoyed clarity around boarder opening with Australia set to open up to fully vaccinated travelers on 21st February.
Pre-market futures were indicating a difficult end to the week however some better than expected results after the US market closed meant early selling was subdued. Buyers won the rest of the session and a demand in the match helped the index finish on the intra-day high. Today’s gain helped the index post it’s best week since August last year, snapping 3 weeks of losses.
Portfolio’s exposed to technology had a tough session today with the sector hit nearly 6% following some big moves lower in large cap US tech stocks that missed earnings expectations overnight, while Healthcare also fell. Partially countering that was strength in Utilities., buying amongst the Miners and a solid day for the banks headlined by a decent update from Westpac (WBC) – a few other interesting companies reported which we cover below.
A solid session for Aussie stocks with the market up more than 1% led by the Energy sector, although Materials also bounced back today following a pullback in the $US overnight. Local reporting season is now underway while the US quarterly updates continue to flow through – we should have a better handle on company earnings over the next month however we suspect that guidance will again be fairly vague, particularly in consumer facing sectors.
A solid session for Aussie stocks today keying off a good session overseas that saw major indices rally into the close. Tech & Utility stocks the main driver however the buying was broad based, 163 stocks in the ASX 200 closed up on the session buoyed by an RBA that kept rates unchanged and ended QE – both as expected whilst also saying they’ll remain patient on further tightening.
The final trading session for a tough January saw the ASX track marginally lower, although there was some buying obvious into early morning weakness particularly in some of the beaten up technology stocks while the resources cooled. For the month, the ASX 200 fell -6.35% however there was some huge divergence between sectors, Energy +7.88% for the month while IT fell by -18.43% and Healthcare was off -12.13%. More on these stats below.
An aggressive bounce back today for local stocks with the ASX 200 ripping +2.19% higher recouping all of yesterday’s declines and some. Stocks opened higher, sold off fairly hard then spend the rest of the session rallying with the buying broad based. We wrote this morning that significant market crashes occur for a reason, whether it’s a credit event like the GFC via subprime loans or a global pandemic that forces an economic shutdown, for now, in MM’s...
A rollercoaster ride for the ASX today, to trade in a huge 284pt/4.1% range, falling to levels not since April 1st last year. With the latest tumble the fall from the 5th of January high of 7620 extended to 862pts/-11.3%. Growth sectors were the shining light early on, before becoming the main drags in the afternoon as the market rolled over – unsurprising given the headlines of higher inflation and higher rates driving markets. Aussie 10-year...
A tough day for the ASX with a negative lead from the futures market putting pressure on stocks early before a hotter than expected inflation read at 11.30am saw bond yields up, the Aussie Dollar up just after the release (although it tapered off later on) and stocks down on the expectation of tighter monetary policy from the RBA. Throw in a public holiday tomorrow, weakness again in US futures during our time zone after what was a very...
A very volatile Monday for the ASX with the market down sharply (-74pts) early on only to claw back the bulk of the decline by the close to finish only a few points into the red. The financials were soft following ANZ’s update while the travel stocks enjoyed clarity around boarder opening with Australia set to open up to fully vaccinated travelers on 21st February.
Pre-market futures were indicating a difficult end to the week however some better than expected results after the US market closed meant early selling was subdued. Buyers won the rest of the session and a demand in the match helped the index finish on the intra-day high. Today’s gain helped the index post it’s best week since August last year, snapping 3 weeks of losses.
Portfolio’s exposed to technology had a tough session today with the sector hit nearly 6% following some big moves lower in large cap US tech stocks that missed earnings expectations overnight, while Healthcare also fell. Partially countering that was strength in Utilities., buying amongst the Miners and a solid day for the banks headlined by a decent update from Westpac (WBC) – a few other interesting companies reported which we cover below.
A solid session for Aussie stocks with the market up more than 1% led by the Energy sector, although Materials also bounced back today following a pullback in the $US overnight. Local reporting season is now underway while the US quarterly updates continue to flow through – we should have a better handle on company earnings over the next month however we suspect that guidance will again be fairly vague, particularly in consumer facing sectors.
A solid session for Aussie stocks today keying off a good session overseas that saw major indices rally into the close. Tech & Utility stocks the main driver however the buying was broad based, 163 stocks in the ASX 200 closed up on the session buoyed by an RBA that kept rates unchanged and ended QE – both as expected whilst also saying they’ll remain patient on further tightening.
The final trading session for a tough January saw the ASX track marginally lower, although there was some buying obvious into early morning weakness particularly in some of the beaten up technology stocks while the resources cooled. For the month, the ASX 200 fell -6.35% however there was some huge divergence between sectors, Energy +7.88% for the month while IT fell by -18.43% and Healthcare was off -12.13%. More on these stats below.
An aggressive bounce back today for local stocks with the ASX 200 ripping +2.19% higher recouping all of yesterday’s declines and some. Stocks opened higher, sold off fairly hard then spend the rest of the session rallying with the buying broad based. We wrote this morning that significant market crashes occur for a reason, whether it’s a credit event like the GFC via subprime loans or a global pandemic that forces an economic shutdown, for now, in MM’s...
A rollercoaster ride for the ASX today, to trade in a huge 284pt/4.1% range, falling to levels not since April 1st last year. With the latest tumble the fall from the 5th of January high of 7620 extended to 862pts/-11.3%. Growth sectors were the shining light early on, before becoming the main drags in the afternoon as the market rolled over – unsurprising given the headlines of higher inflation and higher rates driving markets. Aussie 10-year...
A tough day for the ASX with a negative lead from the futures market putting pressure on stocks early before a hotter than expected inflation read at 11.30am saw bond yields up, the Aussie Dollar up just after the release (although it tapered off later on) and stocks down on the expectation of tighter monetary policy from the RBA. Throw in a public holiday tomorrow, weakness again in US futures during our time zone after what was a very...
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