Another choppy session with the best of it seen early, the ASX hitting a 8455 high before tapering off in the afternoon session, though we still closed higher. Asian markets were softer despite Trump commenting about a 10% tariff on China, a far cry from the 60% suggested during the election, but that failed to have any impact on the Material sector, with a bunch of production updates the greater influence.
Volatility is back as Trump gets his feet under the desk in the Oval Office; the ASX 200 trading in a broad ~100pt trading range today finishing around the mid-point as he pushed through ~100 executive orders that ranged from curtailing hiring of federal employees, freezing regulations, withdrawing the U.S. from a climate treaty to fight global warming, promoting development of domestic energy production, and taking action to reduce consumer costs, among others.
Positive sentiment spilled over from the U.S in anticipation of Donald Trump’s inauguration tonight and the rumoured ~100 executive orders due to come along with it; the actions expected to address tariffs, immigration and the energy sector straight off the bat.
A fairly flat end to what has been a positive year for Markets, albeit with one trading day to go (27th December). The ASX 200 is up ~8%, a solid outcome, though when we compare it to US markets it’s certainly underwhelming against the S&P500 up ~25%. Having international exposure during 2024 has certainly driven better performance.
The ASX recouped all on Friday’s losses and some as low volumes (Sydney CBD was a ghost town today) colluded with a more favourable read on US inflation on Friday night to propel stocks higher. Personal Consumption Expenditures (PCE), the Feds preferred measure came in softer than expected which cast a shadow on Jerome Powells turn of phrase/view on rates earlier last week.
The ASX sold off early, down ~100 points and coasting sideways for the remainder of the session with investors squaring away positions and locking in profits as the final full trading week for 2024 came to an end.
The magnitude of the selloff in the U.S last night didn’t quite translate to the ASX today – a case of the bigger they are, the harder they fall. The ASX was hit hard early, down ~180pts at the 11am low before recovering 20% of the decline to finish off ~140pts.
It was a story of one step forward and one step back today – the morning looked promising as the index crept up 50 points and knocked on the door of the 8,350 level, but buying grew tired and sellers flocked in to square away positions for the holiday period as we closed where we set off for the day.
Today’s price action is typical of this time of year as many wind down for Christmas – moves get amplified on low volume and the market can start to trade in a more exaggerated way.
Macro dominated the ASX today with the markets losing streak extending to 5 sessions - a drought of corporate announcements as we crawl into 2nd half of December with many businesses entering shutdowns over the holiday period.
Volatility is back as Trump gets his feet under the desk in the Oval Office; the ASX 200 trading in a broad ~100pt trading range today finishing around the mid-point as he pushed through ~100 executive orders that ranged from curtailing hiring of federal employees, freezing regulations, withdrawing the U.S. from a climate treaty to fight global warming, promoting development of domestic energy production, and taking action to reduce consumer costs, among others.
Positive sentiment spilled over from the U.S in anticipation of Donald Trump’s inauguration tonight and the rumoured ~100 executive orders due to come along with it; the actions expected to address tariffs, immigration and the energy sector straight off the bat.
A fairly flat end to what has been a positive year for Markets, albeit with one trading day to go (27th December). The ASX 200 is up ~8%, a solid outcome, though when we compare it to US markets it’s certainly underwhelming against the S&P500 up ~25%. Having international exposure during 2024 has certainly driven better performance.
The ASX recouped all on Friday’s losses and some as low volumes (Sydney CBD was a ghost town today) colluded with a more favourable read on US inflation on Friday night to propel stocks higher. Personal Consumption Expenditures (PCE), the Feds preferred measure came in softer than expected which cast a shadow on Jerome Powells turn of phrase/view on rates earlier last week.
The ASX sold off early, down ~100 points and coasting sideways for the remainder of the session with investors squaring away positions and locking in profits as the final full trading week for 2024 came to an end.
The magnitude of the selloff in the U.S last night didn’t quite translate to the ASX today – a case of the bigger they are, the harder they fall. The ASX was hit hard early, down ~180pts at the 11am low before recovering 20% of the decline to finish off ~140pts.
It was a story of one step forward and one step back today – the morning looked promising as the index crept up 50 points and knocked on the door of the 8,350 level, but buying grew tired and sellers flocked in to square away positions for the holiday period as we closed where we set off for the day.
Today’s price action is typical of this time of year as many wind down for Christmas – moves get amplified on low volume and the market can start to trade in a more exaggerated way.
Macro dominated the ASX today with the markets losing streak extending to 5 sessions - a drought of corporate announcements as we crawl into 2nd half of December with many businesses entering shutdowns over the holiday period.
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