Volatility kicked up this week with weakness early on overcome by strength late, overall though the market was very little changed in aggregate which is a good result.
The market built on its ~90pt turnaround from yesterday’s low to add another ~57 points today as the sellers all but disappeared, giving way to some impressive moves, particularly in stocks that have struggled in recent times.
A weak session for the ASX today as the market pulled back from recent highs, the IT & Energy sectors i.e. the growth / risk related areas were the weakest while we actually saw a number of sectors end the session higher.
The market snapped its winning streak today with IT stocks feeling the most pain, although a drop of ~1 % is hardly a concern given the sector is up ~13% so far in April.
A fairly quiet start to the week locally with the market oscillating in a tight ~30pt trading range, my ‘gut feel’ still implies the market is losing momentum, however there’s no obvious sell signals in place (yet). Resource stocks enjoyed another strong session followed by utilities while Energy was the biggest drag down more than 1%.
Another quiet end to the week with the market closing marginally higher. China data was the main focus of the day with GDP missing estimates at18.3% vs 18.5% expected YoY.
Buyers were out in force today helping the local index recover an early dip before pushing on to a new 12 month high. Energy was clearly the standout with a number of market commentators talking up the demand piece overnight.
A flat session from an overall index perspective today as the ASX200 consolidates above last week’s breakout level – this is ultimately a fairly constructive trading pattern if it continues. Data from China was strong today in an absolute sense, although export data was weaker than expected. This grew 30.6% YoY (from a low base) showing that the global economy is back buying Chinese stuff, although the market was looking for +38% growth. On the flipside, Imports were well ahead of expectations coming in at 27.7% versus the 17.6% growth expected, this is a positive read through for Australia.
Low volumes seen across the market today with fundies seemingly focused on quarterly company updates that are starting to come through to get a read around where to next.
The market built on its ~90pt turnaround from yesterday’s low to add another ~57 points today as the sellers all but disappeared, giving way to some impressive moves, particularly in stocks that have struggled in recent times.
A weak session for the ASX today as the market pulled back from recent highs, the IT & Energy sectors i.e. the growth / risk related areas were the weakest while we actually saw a number of sectors end the session higher.
The market snapped its winning streak today with IT stocks feeling the most pain, although a drop of ~1 % is hardly a concern given the sector is up ~13% so far in April.
A fairly quiet start to the week locally with the market oscillating in a tight ~30pt trading range, my ‘gut feel’ still implies the market is losing momentum, however there’s no obvious sell signals in place (yet). Resource stocks enjoyed another strong session followed by utilities while Energy was the biggest drag down more than 1%.
Another quiet end to the week with the market closing marginally higher. China data was the main focus of the day with GDP missing estimates at18.3% vs 18.5% expected YoY.
Buyers were out in force today helping the local index recover an early dip before pushing on to a new 12 month high. Energy was clearly the standout with a number of market commentators talking up the demand piece overnight.
A flat session from an overall index perspective today as the ASX200 consolidates above last week’s breakout level – this is ultimately a fairly constructive trading pattern if it continues. Data from China was strong today in an absolute sense, although export data was weaker than expected. This grew 30.6% YoY (from a low base) showing that the global economy is back buying Chinese stuff, although the market was looking for +38% growth. On the flipside, Imports were well ahead of expectations coming in at 27.7% versus the 17.6% growth expected, this is a positive read through for Australia.
Low volumes seen across the market today with fundies seemingly focused on quarterly company updates that are starting to come through to get a read around where to next.
Check your email for an email from [email protected]
Subject: Your OTP for Account Access
This email will have a code you can use as your One Time Password for instant access
Verication email sent.
Check your email for an email from [email protected]
Subject: Your OTP for Account Access
This email will have a code you can use as your One Time Password for instant access
!
Invalid One Time Password
Please check you entered the correct info, please also note there is a 10minute time limit on the One Time Passcode
To reset your password, enter your email address
A link to create a new password will be sent to the email address you have registered to your account.
Market Matters members receive daily market reports, real-time trade alerts, full access to 5 portfolios and dynamic company data.
Choose how you'd like to proceed:
We have a range of membership options to suit your needs and budget, why not join today and get unlimited access to the premium Market Matters service.
