It was a story of two tales today as the ASX whipsawed from negative to positive territory at midday, before giving back most of the gains rapidly into the close. Early weakness was shaken off as the market reacted to reports that US President Donald Trump may be prepared to wind down the Iran war even if the Strait of Hormuz remains largely closed.
While the market closed lower again today, which is becoming a feature of recent Mondays, the weakest part of the session was behind us early. Headline-driven selling dominated at the open, pushing the ASX 200 down toward ~8380, but that weakness was steadily absorbed as the day wore on, with buyers stepping back in and the index grinding around 70 points off its morning lows by the close.
The ASX 200 snapped a three-week losing streak, though there was little conviction around the local market today, with the index slipping mildly lower by the close – although it did recover ~50 points from the morning low as US Futures traded up.
The ASX edged lower after yesterday’s strong rally, with investors again taking cues from the evolving Iran conflict and the knock-on impact on energy markets. While the index finished little changed overall, the session was marked by steady intraday swings.
The ASX enjoyed a strong rebound today, bouncing sharply as investors latched onto two positives at once. Brent crude rolled over in Asian trade after the US President purportedly presented Iran with a 15-point plan to end the conflict, helping to calm nerves. At the same time, the February CPI print came in a touch softer than feared, giving the market some confidence that domestic inflation pressures are easing.
The ASX finished modestly higher but well off its intraday highs after an early relief rally faded as the geopolitical backdrop in the Middle East remained fluid. The index surged more than +130pts at the open, briefly pushing 8500, before momentum cooled as US futures slipped gradually through the day.
The ASX finished lower, though it was much worse early on in the session. The war in the Middle East continues to dominate sentiment, with the market now down ~9% from the start of March, flirting with technical 'correction' territory.
The ASX 200 closed down in a session defined by continued selling across gold and materials, with the broader index unable to find meaningful support despite pockets of strength in healthcare, utilities and energy in particular.
The ASX 200 fell sharply today, the damage felt heavily in the resources with gold miners hit hardest as bullion dropped overnight on stronger USD following the Fed’s interest rate hold, while rate-sensitive growth and property stocks continued to struggle in the higher-for-longer rate environment.
The ASX 200 closed up in a decent session, shrugging off the RBA’s move and the immediate Iran-related volatility and instead refocusing on underlying fundamentals. With the RBA firmly in the rear-view mirror following Tuesday's hike, attention has shifted squarely to tonight's US Federal Reserve decision. Tech and real estate led the charge, with growth stocks clawing back recent losses as bond yields settled and seven of eleven sectors finished higher — the kind of broad participation that hints at improving conviction in a wobbled market.
While the market closed lower again today, which is becoming a feature of recent Mondays, the weakest part of the session was behind us early. Headline-driven selling dominated at the open, pushing the ASX 200 down toward ~8380, but that weakness was steadily absorbed as the day wore on, with buyers stepping back in and the index grinding around 70 points off its morning lows by the close.
The ASX 200 snapped a three-week losing streak, though there was little conviction around the local market today, with the index slipping mildly lower by the close – although it did recover ~50 points from the morning low as US Futures traded up.
The ASX edged lower after yesterday’s strong rally, with investors again taking cues from the evolving Iran conflict and the knock-on impact on energy markets. While the index finished little changed overall, the session was marked by steady intraday swings.
The ASX enjoyed a strong rebound today, bouncing sharply as investors latched onto two positives at once. Brent crude rolled over in Asian trade after the US President purportedly presented Iran with a 15-point plan to end the conflict, helping to calm nerves. At the same time, the February CPI print came in a touch softer than feared, giving the market some confidence that domestic inflation pressures are easing.
The ASX finished modestly higher but well off its intraday highs after an early relief rally faded as the geopolitical backdrop in the Middle East remained fluid. The index surged more than +130pts at the open, briefly pushing 8500, before momentum cooled as US futures slipped gradually through the day.
The ASX finished lower, though it was much worse early on in the session. The war in the Middle East continues to dominate sentiment, with the market now down ~9% from the start of March, flirting with technical 'correction' territory.
The ASX 200 closed down in a session defined by continued selling across gold and materials, with the broader index unable to find meaningful support despite pockets of strength in healthcare, utilities and energy in particular.
The ASX 200 fell sharply today, the damage felt heavily in the resources with gold miners hit hardest as bullion dropped overnight on stronger USD following the Fed’s interest rate hold, while rate-sensitive growth and property stocks continued to struggle in the higher-for-longer rate environment.
The ASX 200 closed up in a decent session, shrugging off the RBA’s move and the immediate Iran-related volatility and instead refocusing on underlying fundamentals. With the RBA firmly in the rear-view mirror following Tuesday's hike, attention has shifted squarely to tonight's US Federal Reserve decision. Tech and real estate led the charge, with growth stocks clawing back recent losses as bond yields settled and seven of eleven sectors finished higher — the kind of broad participation that hints at improving conviction in a wobbled market.
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