The ASX opened on the backfoot this morning hitting a low of 7086 / down -89 points on the ASX 200 shortly after open following weakness in the US on Friday, however the buy the dip mentality emerged and we saw the market bounce +53points to end the session down -0.50%. US Futures helped the move with the S&P eminis up +0.80% during our time zone. At the sector level it was classic risk off with the defensives doing well, Real-Estate the main support followed by the supermarkets while IT stocks...
Local equities traded to their lowest intraday level since the 29th of September during today’s broad-based selling. Following the overnight moves and compounded by further weakness in US futures today, Aussie equities finished the week with a straight sets smacking. Energy & materials felt the worst of it but all sectors were weaker on the day. Inflation concerns was the main issue on traders’ minds today, a flight to cash ahead of the weekend was on the agenda for most.
A fairly lacklustre session at the index level today with the market only marginally higher, however there were some big moves at the stock level. Gold the standout with a number of names up more than 10% as the precious metal traded up to US$1840, some IT stocks bounced well while there was also some strong moves in the broader resources & energy sectors, Copper & Iron Ore particularly upbeat while Crude Oil also traded higher. Today certainly...
A tough day at the office for the Australian market today with the ASX down over 1% led lower by the IT and healthcare sectors. Financials were also weak however there were some offsets, with Energy strong and Utilities living up to their defensive qualities, while at the corporate level we actually saw some positive updates from stocks, and they rallied! As we’ve written a few times of late, stock picking in 2022 will be very important.
The local market started on the front foot today, trading as much as +28pts/+0.38% to 7445 around midday before selling off into the afternoon. The slide seemed to coincide with the Bank of Japan (BOJ) talking to inflation risks, increasing their CPI expectations for the next 12 months to 1.1%. Healthcare was weak today, and while the Tech sector finished marginally better, it was the standout earlier in the session and felt the brunt of the afternoon’s weakness.
A positive session for local stocks to kick off the week with a muted start before the market pushed higher into the afternoon session – a bounce back in the retailers after a period of weakness led the market today while Energy was again supportive.
The ASX knocked for 6 today as the 5th Ashes Test gets underway in Hobart, the poms starting well with the ball taking 3 early wickets. On the market, utilities the only sector in the green while the IT stocks ended a tough week down another 3.92%, the tide has certainly turned.
A positive day for the ASX with another session where material stocks supported the market with the sector enjoying strong showings from Iron Ore, Lithium & Copper, while Blackstone have finally bid up for Crown (CWN) with a deal looking likely at $13.10.
A strong showing by Energy & Technology shares helped the ASX recover the majority of yesterdays losses today, although the best of the session was seen early on before the ‘sell the pop’ mentality became evident. Crude Oil rallied ~4% overnight to trade above $US80/bbl and remains bullish while lower yields helped a bounce back in tech.
A weak session for Aussie stocks today underperforming most Asian markets while US Futures were also fairly muted throughout our session. Weakness was widespread with only the Material stocks closing a few ticks into the green. Supply chain issues are starting to hurt and this is evident amongst the supermarkets and the companies that supply them, Inghams (ING) the latest to flag production problems.
Local equities traded to their lowest intraday level since the 29th of September during today’s broad-based selling. Following the overnight moves and compounded by further weakness in US futures today, Aussie equities finished the week with a straight sets smacking. Energy & materials felt the worst of it but all sectors were weaker on the day. Inflation concerns was the main issue on traders’ minds today, a flight to cash ahead of the weekend was on the agenda for most.
A fairly lacklustre session at the index level today with the market only marginally higher, however there were some big moves at the stock level. Gold the standout with a number of names up more than 10% as the precious metal traded up to US$1840, some IT stocks bounced well while there was also some strong moves in the broader resources & energy sectors, Copper & Iron Ore particularly upbeat while Crude Oil also traded higher. Today certainly...
A tough day at the office for the Australian market today with the ASX down over 1% led lower by the IT and healthcare sectors. Financials were also weak however there were some offsets, with Energy strong and Utilities living up to their defensive qualities, while at the corporate level we actually saw some positive updates from stocks, and they rallied! As we’ve written a few times of late, stock picking in 2022 will be very important.
The local market started on the front foot today, trading as much as +28pts/+0.38% to 7445 around midday before selling off into the afternoon. The slide seemed to coincide with the Bank of Japan (BOJ) talking to inflation risks, increasing their CPI expectations for the next 12 months to 1.1%. Healthcare was weak today, and while the Tech sector finished marginally better, it was the standout earlier in the session and felt the brunt of the afternoon’s weakness.
A positive session for local stocks to kick off the week with a muted start before the market pushed higher into the afternoon session – a bounce back in the retailers after a period of weakness led the market today while Energy was again supportive.
The ASX knocked for 6 today as the 5th Ashes Test gets underway in Hobart, the poms starting well with the ball taking 3 early wickets. On the market, utilities the only sector in the green while the IT stocks ended a tough week down another 3.92%, the tide has certainly turned.
A positive day for the ASX with another session where material stocks supported the market with the sector enjoying strong showings from Iron Ore, Lithium & Copper, while Blackstone have finally bid up for Crown (CWN) with a deal looking likely at $13.10.
A strong showing by Energy & Technology shares helped the ASX recover the majority of yesterdays losses today, although the best of the session was seen early on before the ‘sell the pop’ mentality became evident. Crude Oil rallied ~4% overnight to trade above $US80/bbl and remains bullish while lower yields helped a bounce back in tech.
A weak session for Aussie stocks today underperforming most Asian markets while US Futures were also fairly muted throughout our session. Weakness was widespread with only the Material stocks closing a few ticks into the green. Supply chain issues are starting to hurt and this is evident amongst the supermarkets and the companies that supply them, Inghams (ING) the latest to flag production problems.
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