A choppy session with some big moves in individual stocks though the index finished only mildly higher. Uranium shares were hit, as were gold stocks while lithium names found a few friends.
A similar trend to yesterday with the best of the session seen early before consistent selling played out through the afternoon session, the index closing on its lows and down ~0.9% for the week.
A good ~40pt rally from the early lows saw the index higher by mid-afternoon, though the trend changed, sellers came in, and it was one way traffic into the close on another day dominated by AGM’s and trading updates with more misses than hits.
A quiet day across the board with stocks closing mildly higher after a decent pullback yesterday. WiseTech (WTC) and MinRes (MIN) continue to attract the headlines while a raft of AGM’s & quarterlies kept us busy. Gold stocks in focus here with generally solid operational updates supported by a gold price at record highs.
A tough day at the office with the ASX opening down and building on the losses throughout the session. Bond yields ticked up in the US overnight and the theme continued in our market today with the Aussie 3-year yield up 11bps as rate cuts progressively get priced out of the market - the rate-sensitive stocks feeling the most heat today, though all 11 sectors finished in the red.
Rocks and diamonds for the market today, with the index pushing higher throughout the session on broad based gains, though a few big (downside) moves from some high-profile stocks captured most of the headlines, with Billionaires Chris Ellison (MIN) and Richard White (WTC) in the media crosshairs while Nick Scali (NCK) gave a softer trading update and fell.
The market gave back all of yesterdays gains in a soft end to a positive week for stocks. The ASX 200 trading at a new all-time high of 8384 yesterday and while todays sell-off had some sting about it, the market was still up 0.8% for the week led by a bounce back in the financial stocks. Gold was strong in Asia today, cracking through $US2700/oz for the first time in history!
A choppy but position session overall for the ASX, with a very bullish open (market up ~90pts at the highs), before a hotter than expected read on local employment sent bond yields higher (3’s up 5bps to 3.8%), the AUD was bought (+0.4% to 66.91c) while equities were sold as the timing of rate cuts got pushed further out into the Never Never…the market now pricing only a 20% chance of a cut this side of Christmas with the first full 25bps cut now not priced in until April 25.
The ASX pulled back from all-time highs today, and despite a decent session from the financials, all other sectors finished lower, with most of the selling coming late in the day.
New all-time highs for the ASX today, breaking out above 8300 for the first time as money found it's way back into the banks while the resources remained pretty well supported - 80% of the main board finished higher. The breakout feels almost lethargic, which is not a bad thing, with stocks grinding to new highs as opposed to exploding towards them on a news-driven event that could quickly dissipate i.e. the market feels like it has sustainable legs here.
A similar trend to yesterday with the best of the session seen early before consistent selling played out through the afternoon session, the index closing on its lows and down ~0.9% for the week.
A good ~40pt rally from the early lows saw the index higher by mid-afternoon, though the trend changed, sellers came in, and it was one way traffic into the close on another day dominated by AGM’s and trading updates with more misses than hits.
A quiet day across the board with stocks closing mildly higher after a decent pullback yesterday. WiseTech (WTC) and MinRes (MIN) continue to attract the headlines while a raft of AGM’s & quarterlies kept us busy. Gold stocks in focus here with generally solid operational updates supported by a gold price at record highs.
A tough day at the office with the ASX opening down and building on the losses throughout the session. Bond yields ticked up in the US overnight and the theme continued in our market today with the Aussie 3-year yield up 11bps as rate cuts progressively get priced out of the market - the rate-sensitive stocks feeling the most heat today, though all 11 sectors finished in the red.
Rocks and diamonds for the market today, with the index pushing higher throughout the session on broad based gains, though a few big (downside) moves from some high-profile stocks captured most of the headlines, with Billionaires Chris Ellison (MIN) and Richard White (WTC) in the media crosshairs while Nick Scali (NCK) gave a softer trading update and fell.
The market gave back all of yesterdays gains in a soft end to a positive week for stocks. The ASX 200 trading at a new all-time high of 8384 yesterday and while todays sell-off had some sting about it, the market was still up 0.8% for the week led by a bounce back in the financial stocks. Gold was strong in Asia today, cracking through $US2700/oz for the first time in history!
A choppy but position session overall for the ASX, with a very bullish open (market up ~90pts at the highs), before a hotter than expected read on local employment sent bond yields higher (3’s up 5bps to 3.8%), the AUD was bought (+0.4% to 66.91c) while equities were sold as the timing of rate cuts got pushed further out into the Never Never…the market now pricing only a 20% chance of a cut this side of Christmas with the first full 25bps cut now not priced in until April 25.
The ASX pulled back from all-time highs today, and despite a decent session from the financials, all other sectors finished lower, with most of the selling coming late in the day.
New all-time highs for the ASX today, breaking out above 8300 for the first time as money found it's way back into the banks while the resources remained pretty well supported - 80% of the main board finished higher. The breakout feels almost lethargic, which is not a bad thing, with stocks grinding to new highs as opposed to exploding towards them on a news-driven event that could quickly dissipate i.e. the market feels like it has sustainable legs here.
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