The ASX 200 slid to a six-week low with the RBA’s final decision of the year yielding no change to the cash rate – 10/11 sectors were down on low activity due to the Melbourne Cup shenanigans
The ASX finished mildly higher on the first trading day of November, largely underpinned by a solid day for the banks with the big 4 contributing +36pts to the main boards gain as Westpac reported FY results and rallied – more on their result below.
The ASX was a story of two tales today, with early gains driven by gold miners and the major banks as global risk sentiment improved following progress in US–China trade talks.
The ASX extended its losses on Thursday, as investors continued to digest hotter-than-expected local inflation data and a more cautious tone from US Fed Chair Jerome Powell overnight
Australian equities sold off sharply after a red-hot Q3 inflation print forced investors to abandon any near-term easing hopes. Core CPI, the RBA’s preferred gauge, jumped 1.0% QoQ (vs 0.8% expected & 0.6% RBA forecast).
The ASX slipped as sharp losses in tech and healthcare weighed heavily - the market was fighting an uphill battle after CSL and Wisetech both had –15% days, accounting for –61pts of index weakness between them.
The ASX200 climbed today, lifted by broad-based gains as global sentiment improved on renewed optimism around a potential US–China trade deal and expectations for a Federal Reserve rate cut later this week.
The ASX eased into the weekend as investors stayed cautious ahead of next week’s high-stakes meeting between US President Donald Trump and China’s Xi Jinping, while news of the abrupt termination of US-Canada trade talks also added some complexity to the mix.
The ASX clawed back early losses this afternoon, closing marginally higher as a sharp rally in energy stocks offset weakness across technology and resources. Gold stocks bounced back after yesterday’s aggressive sell-off, even as spot gold traded mildly lower.
Stocks slipped back from record highs today as the spectacular rally in precious metals came unstuck, sending gold tumbling by the most in more than a decade. Rare Earth stocks also pulled back after a strong period- profit taking swept across the sector, while Uranium stocks and broader commodities were also knocked lower.
The ASX finished mildly higher on the first trading day of November, largely underpinned by a solid day for the banks with the big 4 contributing +36pts to the main boards gain as Westpac reported FY results and rallied – more on their result below.
The ASX was a story of two tales today, with early gains driven by gold miners and the major banks as global risk sentiment improved following progress in US–China trade talks.
The ASX extended its losses on Thursday, as investors continued to digest hotter-than-expected local inflation data and a more cautious tone from US Fed Chair Jerome Powell overnight
Australian equities sold off sharply after a red-hot Q3 inflation print forced investors to abandon any near-term easing hopes. Core CPI, the RBA’s preferred gauge, jumped 1.0% QoQ (vs 0.8% expected & 0.6% RBA forecast).
The ASX slipped as sharp losses in tech and healthcare weighed heavily - the market was fighting an uphill battle after CSL and Wisetech both had –15% days, accounting for –61pts of index weakness between them.
The ASX200 climbed today, lifted by broad-based gains as global sentiment improved on renewed optimism around a potential US–China trade deal and expectations for a Federal Reserve rate cut later this week.
The ASX eased into the weekend as investors stayed cautious ahead of next week’s high-stakes meeting between US President Donald Trump and China’s Xi Jinping, while news of the abrupt termination of US-Canada trade talks also added some complexity to the mix.
The ASX clawed back early losses this afternoon, closing marginally higher as a sharp rally in energy stocks offset weakness across technology and resources. Gold stocks bounced back after yesterday’s aggressive sell-off, even as spot gold traded mildly lower.
Stocks slipped back from record highs today as the spectacular rally in precious metals came unstuck, sending gold tumbling by the most in more than a decade. Rare Earth stocks also pulled back after a strong period- profit taking swept across the sector, while Uranium stocks and broader commodities were also knocked lower.
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