The market was strong on open this morning buoyed by the left field takeover offer lobbed for Sydney Airports (SYD) by a consortium of institutional investors.
The ASX finished higher in a fairly quiet session today with around 65% of stocks in the green led by the Energy sector thanks to a rally in Oil prices overnight. This is a sector we have very little exposure to however we are looking for opportunities.
A positive session to end a positive FY21 today with the ASX adding 11pts, although it was up more than ~50pts in early trade before sellers took hold and sold the market off into the close – the match out seeing a further ~10pts ripped from the market as end of FY year book-squaring took hold.
A decent fight back for the ASX today after a weak open – the IT sector was strong after a poor session yesterday, the volatility in some parts of that sector is incredible and speaks to the level of short term trading that happens there, particularly in BNPL stocks.
A weaker open for the ASX today however after the initial lockdown shock the market was bid up and closed unchanged. Lockdowns are obviously a headwind for the economy however they do push back the chance of rate hikes which is a key focus of markets right now.
A softer session for the ASX today with the market down early however when higher case counts in Sydney came through and Gladys introduced harsher restrictions there was very little reasons for the market to shake off the sellers.
A bullish session overall for the ASX today keying off a positive night in US markets where optimism quickly returned as US Fed Chair Jerome Powell reiterated the central banks view that inflation is transitory which the market interprets as rates lower for longer.
The ASX finished higher in a fairly quiet session today with around 65% of stocks in the green led by the Energy sector thanks to a rally in Oil prices overnight. This is a sector we have very little exposure to however we are looking for opportunities.
A positive session to end a positive FY21 today with the ASX adding 11pts, although it was up more than ~50pts in early trade before sellers took hold and sold the market off into the close – the match out seeing a further ~10pts ripped from the market as end of FY year book-squaring took hold.
A decent fight back for the ASX today after a weak open – the IT sector was strong after a poor session yesterday, the volatility in some parts of that sector is incredible and speaks to the level of short term trading that happens there, particularly in BNPL stocks.
A weaker open for the ASX today however after the initial lockdown shock the market was bid up and closed unchanged. Lockdowns are obviously a headwind for the economy however they do push back the chance of rate hikes which is a key focus of markets right now.
A softer session for the ASX today with the market down early however when higher case counts in Sydney came through and Gladys introduced harsher restrictions there was very little reasons for the market to shake off the sellers.
A bullish session overall for the ASX today keying off a positive night in US markets where optimism quickly returned as US Fed Chair Jerome Powell reiterated the central banks view that inflation is transitory which the market interprets as rates lower for longer.
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