With U.S markets shut for thanksgiving, we expected a quiet day today, and it was just that until news out of Brazil around midday gave some life to the resource names.
The Australian sharemarket has topped its second record high of the week, though it was on low volume and selling kicked in for the last hour of trade pushing the benchmark ~30pts below it’s peak by the close.
A good session for Aussie stocks recouping the majority of yesterday's decline with all 11 sectors finishing in the green, headlined by a solid day for some of the retailers. Normal trade in the US tonight, before Thursday’s Thanksgiving holiday and a half day Friday.
The market was losing steam yesterday, trading well off it’s morning highs and that theme continued today, amplified by comments from Trump on his social media platform “Truth Social” saying the US would impose additional tariffs of 10% on Chinese goods and place 25% levies on imports from Mexico and Canada.
A new all-time high for the ASX today with the market hitting 8462 in early trade before backing off from the milestone. Property stocks the main driver of gains, though, as was the case last week when the market pushed up, sellers took the opportunity to sell into strength, with the banks a noticeable omission from today’s gains - only Comm Bank (CBA) finishing higher.
A good session to end a choppy but ultimately positive week for the market that included a new all-time high for the ASX200 on Tuesday at 8446, and a new closing high today at 8393. Lots of corporate news coming from AGM’s, with a few hits, but more misses.
The ASX drifted mildly lower today in a quiet session at the index level with November options expiry dominating flows. A long list of AGMs headlined by MinRes (MIN), while there were some hits and misses elsewhere with several companies providing trading updates.
The markets keyed off the last hour of yesterdays session and fell away progressively throughout the day, and from a technical perspective, the bullish new high at 8446 that has now potentially failed is at risk of being a false breakout, a bearish pattern.
Tuesday was an excellent session for the ASX200, with over 70% of stocks closing higher as the index surged to new all-time highs. MM has been targeting the 8500-8600 area by Christmas; we’re starting to look too conservative!
It was a mixed but ultimately positive session for the ASX, with ~65% of the main board advancing. From a points perspective, the miners led the way, while the “Big Four Banks” were up and down, with CBA catching the eye falling over $2.
The Australian sharemarket has topped its second record high of the week, though it was on low volume and selling kicked in for the last hour of trade pushing the benchmark ~30pts below it’s peak by the close.
A good session for Aussie stocks recouping the majority of yesterday's decline with all 11 sectors finishing in the green, headlined by a solid day for some of the retailers. Normal trade in the US tonight, before Thursday’s Thanksgiving holiday and a half day Friday.
The market was losing steam yesterday, trading well off it’s morning highs and that theme continued today, amplified by comments from Trump on his social media platform “Truth Social” saying the US would impose additional tariffs of 10% on Chinese goods and place 25% levies on imports from Mexico and Canada.
A new all-time high for the ASX today with the market hitting 8462 in early trade before backing off from the milestone. Property stocks the main driver of gains, though, as was the case last week when the market pushed up, sellers took the opportunity to sell into strength, with the banks a noticeable omission from today’s gains - only Comm Bank (CBA) finishing higher.
A good session to end a choppy but ultimately positive week for the market that included a new all-time high for the ASX200 on Tuesday at 8446, and a new closing high today at 8393. Lots of corporate news coming from AGM’s, with a few hits, but more misses.
The ASX drifted mildly lower today in a quiet session at the index level with November options expiry dominating flows. A long list of AGMs headlined by MinRes (MIN), while there were some hits and misses elsewhere with several companies providing trading updates.
The markets keyed off the last hour of yesterdays session and fell away progressively throughout the day, and from a technical perspective, the bullish new high at 8446 that has now potentially failed is at risk of being a false breakout, a bearish pattern.
Tuesday was an excellent session for the ASX200, with over 70% of stocks closing higher as the index surged to new all-time highs. MM has been targeting the 8500-8600 area by Christmas; we’re starting to look too conservative!
It was a mixed but ultimately positive session for the ASX, with ~65% of the main board advancing. From a points perspective, the miners led the way, while the “Big Four Banks” were up and down, with CBA catching the eye falling over $2.
Check your email for an email from [email protected]
Subject: Your OTP for Account Access
This email will have a code you can use as your One Time Password for instant access
Verication email sent.
Check your email for an email from [email protected]
Subject: Your OTP for Account Access
This email will have a code you can use as your One Time Password for instant access
!
Invalid One Time Password
Please check you entered the correct info, please also note there is a 10minute time limit on the One Time Passcode
To reset your password, enter your email address
A link to create a new password will be sent to the email address you have registered to your account.
Market Matters members receive daily market reports, real-time trade alerts, full access to 5 portfolios and dynamic company data.
Choose how you'd like to proceed:
We have a range of membership options to suit your needs and budget, why not join today and get unlimited access to the premium Market Matters service.
