The ASX proved resilient today, shaking off a stronger-than-expected jobs report that lifted rate-hike expectations for the February RBA meeting. Tariff fears eased as President Trump softened his stance on Europe and Greenland underpinning sentiment, with strength across the banks and energy sector more than offsetting weakness in gold, allowing the market to hold solid gains into the close.
The ASX fell for a third consecutive session, although strength in some pockets (resources) was enough to only see modest declines at the index level. Tech and banks the major drags, while Gold rallied another $US100/oz to hit yet another record high at $US4871/oz - so much for it being a crowded trade!
The ASX traded lower for a second consecutive session as renewed trade tensions rattled global risk appetite, following President Trump’s threat to impose fresh tariffs on European nations over Greenland.
Weakness crept back into the market today as more traders got back behind their desks post Christmas break, with volumes increasing across the board. After a flat start to trade, US Futures came under pressure as Trump threatened 10% tariffs on several European countries from February, rising to 25% in June, unless the European Union agrees to negotiations linked to the “purchase of Greenland”.
A softer session today, giving back a portion of yesterday's solid move, though trading was quiet; volumes anemic and most focus is now on the Christmas break, with a 2.10pm close this afternoon.
The ASX finished sharply higher, extending its pre-Christmas rally as broad-based buying pushed the market to a six-week high and saw all sectors finish higher for the second day in a row. Optimism around US rate cuts, light year-end volumes and strong US markets overnight combined to lift risk appetite, with real estate and technology leading gains.
The ASX surged today, as a rally in commodities combined with rising expectations of further US Federal Reserve rate cuts lifted risk appetite into the Christmas break. Gold was the standout driver, with energy and uranium stocks joined the rally, and banks posting modest gains, cooling from early strength.
The ASX pushed higher on Friday, supported by a rebound in technology stocks and strength across the banks, following softer-than-expected US inflation data that reignited expectations for further Federal Reserve rate cuts. Despite today’s gains, the market is still tracking its first weekly decline in four weeks.
The ASX was on track to finish lower for a fourth consecutive session, before a solid rally in the afternoon positioned the index with its head just above water.
The ASX eased on Wednesday as softer oil prices and muted implications from US labour data was largely offset by strength in gold miners. We’ve got two more trading sessions before the majority of the market head for Christmas holidays, with next week’s trade likely to be very quiet.
The ASX fell for a third consecutive session, although strength in some pockets (resources) was enough to only see modest declines at the index level. Tech and banks the major drags, while Gold rallied another $US100/oz to hit yet another record high at $US4871/oz - so much for it being a crowded trade!
The ASX traded lower for a second consecutive session as renewed trade tensions rattled global risk appetite, following President Trump’s threat to impose fresh tariffs on European nations over Greenland.
Weakness crept back into the market today as more traders got back behind their desks post Christmas break, with volumes increasing across the board. After a flat start to trade, US Futures came under pressure as Trump threatened 10% tariffs on several European countries from February, rising to 25% in June, unless the European Union agrees to negotiations linked to the “purchase of Greenland”.
A softer session today, giving back a portion of yesterday's solid move, though trading was quiet; volumes anemic and most focus is now on the Christmas break, with a 2.10pm close this afternoon.
The ASX finished sharply higher, extending its pre-Christmas rally as broad-based buying pushed the market to a six-week high and saw all sectors finish higher for the second day in a row. Optimism around US rate cuts, light year-end volumes and strong US markets overnight combined to lift risk appetite, with real estate and technology leading gains.
The ASX surged today, as a rally in commodities combined with rising expectations of further US Federal Reserve rate cuts lifted risk appetite into the Christmas break. Gold was the standout driver, with energy and uranium stocks joined the rally, and banks posting modest gains, cooling from early strength.
The ASX pushed higher on Friday, supported by a rebound in technology stocks and strength across the banks, following softer-than-expected US inflation data that reignited expectations for further Federal Reserve rate cuts. Despite today’s gains, the market is still tracking its first weekly decline in four weeks.
The ASX was on track to finish lower for a fourth consecutive session, before a solid rally in the afternoon positioned the index with its head just above water.
The ASX eased on Wednesday as softer oil prices and muted implications from US labour data was largely offset by strength in gold miners. We’ve got two more trading sessions before the majority of the market head for Christmas holidays, with next week’s trade likely to be very quiet.
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