The market continued to follow a very similar path to home schooling in the Gerrish house hold of late, the low set in the morning – perhaps deeper than most feared before a recovery plays out later in the session and we close at the high point of the day. Today that was up just 1pt for the ASX 200 as the market continues to consolidate it’s recent ~200pt pullback. As we highlighted this morning, the previous pullback back in June / July took 6-weeks...
While a +5pt gain at the index level implies a lacklustre session, there was a lot happening under the hood + it was a major turnaround from early weakness which had the market hit a 7440 low before rallying unabated to close at 7528, a +88pt turnaround as the wall of money buys weakness. That is very typical of a strong market and while some will list all the entertaining reasons for a market top, the trend remains up and that’s all...
A solid end to the week with the ASX having a choppy but positive session on a beautiful spring day in Sydney. Resource stocks led the way today with the IT names lagged, a similar sort of session overseas last night with the cyclicals coming back into favour after stalling recently. The uranium stocks were on fire today while the rest of the commodity complex was strong. For the week, the ASX 200 added ~0.50% although there was significant influence from dividends.
A similar session to yesterday with the market opening sharply lower before fighting back throughout the day – the buy the dip mentality still very much alive and well. Two index heavyweights traded ex-dividend today, namely BHP & CSL and while the ASX 200 closed down 41points, ~30points of that move was dividend related.
A lack of sellers it seemed into month end saw the ASX finish higher again today clocking up an 11th straight month of gains, its longest streak on record. Tech stocks followed a strong performance from the NASDAQ overnight to add nearly ¬2% on the day while the Energy sector fell despite Oil rallying overnight. For the month of August there was some sharp divergence between sector returns, IT storming 16.8% higher thanks...
A positive session by the end for the penultimate day of local reporting season, the Material stocks roaring back to life on stronger commodity prices, a weaker $US and a huge profit result from Fortescue Metals (FMG) which showed just how much money can be made when commodity companies get a commodity price tailwind particularly when it comes on the back of periods where efficiency & operational discipline have been important. The Material...
A quieter session to end a busy week of reporting with the market finishing little changed, a weak open before a more solid finish with the broader sectors of industrials & utilities doing most of the heavy lifting. Results from the bigger end of town today were generally solid however the volume of results is now declining into next week. Overall, reporting remained mixed although specific guidance has (probably rightly so) been scarce.
The ASX snapped a 3 day winning streak today and ended lower, the Telcos & Retailers the only sectors to end higher as 9 stocks in the Top 200 ended down more than 5%.
The ASX 200 finished down -40pts / -0.54% to 7491
NSW announced +1029 new COVID cases, VIC had +80 new cases
The travel stocks rallied today as both Qantas (QAN) +3.5% & Flight Centre (FLT) +4% reported earnings plus talked more favourably around re-opening. QAN laid out plans for re-opening international
A strong rally in the IT sector with support from the resources underpinned a solid day of trade for the ASX, Wisetech (WTC) +28% a standout although it was up ~50% at one stage, while money also found it’s way into the ‘re-opening trade’ with travel stocks doing pretty well. Another solid day of reporting, we cover some below while Harry & I talk about Monadelphous (MND), Bravura (BVS), HUB 24 (HUB) and Zip Co (Z1P) in our weekly video...
The market edged higher today it what was the biggest day of reporting thus far, Energy the standout sector following Crude’s rally overnight + a timely note from MM this morning while the Material sector also bounced back from recent weakness. It was rocks & diamonds today for MM is terms of results, the diamond in the Flagship Growth Portfolio being HUB 24 (HUB) up ~8% while Monadelphous (MND) was anything but, down ~14%.
While a +5pt gain at the index level implies a lacklustre session, there was a lot happening under the hood + it was a major turnaround from early weakness which had the market hit a 7440 low before rallying unabated to close at 7528, a +88pt turnaround as the wall of money buys weakness. That is very typical of a strong market and while some will list all the entertaining reasons for a market top, the trend remains up and that’s all...
A solid end to the week with the ASX having a choppy but positive session on a beautiful spring day in Sydney. Resource stocks led the way today with the IT names lagged, a similar sort of session overseas last night with the cyclicals coming back into favour after stalling recently. The uranium stocks were on fire today while the rest of the commodity complex was strong. For the week, the ASX 200 added ~0.50% although there was significant influence from dividends.
A similar session to yesterday with the market opening sharply lower before fighting back throughout the day – the buy the dip mentality still very much alive and well. Two index heavyweights traded ex-dividend today, namely BHP & CSL and while the ASX 200 closed down 41points, ~30points of that move was dividend related.
A lack of sellers it seemed into month end saw the ASX finish higher again today clocking up an 11th straight month of gains, its longest streak on record. Tech stocks followed a strong performance from the NASDAQ overnight to add nearly ¬2% on the day while the Energy sector fell despite Oil rallying overnight. For the month of August there was some sharp divergence between sector returns, IT storming 16.8% higher thanks...
A positive session by the end for the penultimate day of local reporting season, the Material stocks roaring back to life on stronger commodity prices, a weaker $US and a huge profit result from Fortescue Metals (FMG) which showed just how much money can be made when commodity companies get a commodity price tailwind particularly when it comes on the back of periods where efficiency & operational discipline have been important. The Material...
A quieter session to end a busy week of reporting with the market finishing little changed, a weak open before a more solid finish with the broader sectors of industrials & utilities doing most of the heavy lifting. Results from the bigger end of town today were generally solid however the volume of results is now declining into next week. Overall, reporting remained mixed although specific guidance has (probably rightly so) been scarce.
The ASX snapped a 3 day winning streak today and ended lower, the Telcos & Retailers the only sectors to end higher as 9 stocks in the Top 200 ended down more than 5%.
The ASX 200 finished down -40pts / -0.54% to 7491
NSW announced +1029 new COVID cases, VIC had +80 new cases
The travel stocks rallied today as both Qantas (QAN) +3.5% & Flight Centre (FLT) +4% reported earnings plus talked more favourably around re-opening. QAN laid out plans for re-opening international
A strong rally in the IT sector with support from the resources underpinned a solid day of trade for the ASX, Wisetech (WTC) +28% a standout although it was up ~50% at one stage, while money also found it’s way into the ‘re-opening trade’ with travel stocks doing pretty well. Another solid day of reporting, we cover some below while Harry & I talk about Monadelphous (MND), Bravura (BVS), HUB 24 (HUB) and Zip Co (Z1P) in our weekly video...
The market edged higher today it what was the biggest day of reporting thus far, Energy the standout sector following Crude’s rally overnight + a timely note from MM this morning while the Material sector also bounced back from recent weakness. It was rocks & diamonds today for MM is terms of results, the diamond in the Flagship Growth Portfolio being HUB 24 (HUB) up ~8% while Monadelphous (MND) was anything but, down ~14%.
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.
