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.
It was actually an interesting trading session today at the stock level despite the index finishing little changed. The high value (tech & others) were sold off fairly hard this morning before most bounced while there was also some aggressive buying in some of the ‘dogs’ of 2021, a strategy that often pays dividends – commonly called the ‘Dogs of the Dow’ where investors buy the underperformers of the past 12 months.
A positive session for the final day of trade before Christmas, a shortened session and volume was a pittance of the norm however positive non-the-less as we all embark on the joys of a festive feast. Today it was the Retailers and the Real-Estate stocks vying it out on the leader board up 0.80% and 0.57% respectively, while on the flipside, the Utilities and Consumer Staples lagged, the latter being the only sector to finish in the red today.
The usual Christmas lull has now taken hold of markets and while the ASX edged higher today following a positive night in the US, volumes were light and conviction was low. The Utilities sector +0.70% was best on ground today supported by the Industrial stocks which edged 0.63% higher, on the flipside, the IT stocks gave back some of yesterday’s gains down by -0.92% while the supermarkets also fell.
A choppy but marginally positive session for the ASX today as volumes peter out ahead of the Christmas break - actually having a full week of trade before Christmas doesn’t happen very often and it seems like some in the market have taken off early - if all the red dots on my Bloomberg are anything to go by. Today the IT stocks did best with another takeover approach for Link (LNK) while a bounce back in Afterpay (APT) also helped. APT has...
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.
It was actually an interesting trading session today at the stock level despite the index finishing little changed. The high value (tech & others) were sold off fairly hard this morning before most bounced while there was also some aggressive buying in some of the ‘dogs’ of 2021, a strategy that often pays dividends – commonly called the ‘Dogs of the Dow’ where investors buy the underperformers of the past 12 months.
A positive session for the final day of trade before Christmas, a shortened session and volume was a pittance of the norm however positive non-the-less as we all embark on the joys of a festive feast. Today it was the Retailers and the Real-Estate stocks vying it out on the leader board up 0.80% and 0.57% respectively, while on the flipside, the Utilities and Consumer Staples lagged, the latter being the only sector to finish in the red today.
The usual Christmas lull has now taken hold of markets and while the ASX edged higher today following a positive night in the US, volumes were light and conviction was low. The Utilities sector +0.70% was best on ground today supported by the Industrial stocks which edged 0.63% higher, on the flipside, the IT stocks gave back some of yesterday’s gains down by -0.92% while the supermarkets also fell.
A choppy but marginally positive session for the ASX today as volumes peter out ahead of the Christmas break - actually having a full week of trade before Christmas doesn’t happen very often and it seems like some in the market have taken off early - if all the red dots on my Bloomberg are anything to go by. Today the IT stocks did best with another takeover approach for Link (LNK) while a bounce back in Afterpay (APT) also helped. APT has...
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