A softer session to kick off FY25, though the worst of it was seen early as US Futures bounced thanks to improving sentiment in France, with CAC Futures +2.8% ahead of their open. Materials stocks the standout today, plenty of them look like they’ve found support after a tough 3 months for the sector, with Coal stocks the standout.
A positive session to round our FY24 for the ASX, a year of two halves characterised by considerable divergence across sectors. The strong have grown stronger, with the Financials led by the banks surpassing even the most bullish expectations, while tech was again a standout. Overall, it’s been another solid year at Market Matters, we’ve welcomed aboard a wonderful number of new members, underpinned by solid performance on the portfolio side. We start FY25 with a clean sheet on Monday, and we’ll continue to work hard to deliver for our community of investors. Thank you to all who have taken advantage of our end-of-year offers – we’re thrilled to have you on board.
It was a very bullish day despite the ASX closing lower. Stocks were hit early as the hangover from yesterdays hotter inflation print worked through, however the 10.30am low was met with strong intra-day buying, the ASX 200 rallying +105pts with more stocks actually finishing up than down, plus, much of the property sector traded ex-dividend. Tech led the line, though resources, healthcare and retailers caught our eye for the right reasons.
A choppy session with the ASX ultimately giving back ~50% of yesterday’s advance in part due to a hotter than expected monthly inflation print for May. Expectations were for +3.8% YoY vs 4.0% realised, which saw bond yields meaningfully higher (bonds sold) as the market priced in a greater chance of a rate hike in August (now 30%) & September (now 60%). Aussie 3-year yields were up 17.5bps settling at 4.10% which underpinned a 0.6% rise in the AUD to 66.86c, along with a quick 45pt sell-off for equities
A better vibe to the ASX today with the market opening mildly higher and grinding bottom left to top right throughout the session as consistent buying in the banks was supported by a bounce back in large cap resources, and when those two sectors fire, its an easy task for the ASX to put on a quick ~100pts, with all-time highs now only ~2% away.
A nervous start to the week for local stocks ahead of an important inflation print locally on Wednesday (monthly CPI exp +3.8%) while PCE Data, the US Feds preferred measure on inflation, is released on Friday. While there are some lingering concerns that inflation is remaining sticky, there was a number of stock specific events that knocked confidence today pushing 10/11 sectors into the red.
A quiet day at the index level with no lead from the US overnight. 7 of 11 sectors finished in the red, though more than 50% of stocks in the ASX 200 were up on the day. The big news was the success of the Guyman y Gomez (GYG) IPO, which came on the market at midday, and rallied 36% - the best major IPO in years.
A muted session with no trade in the US tonight, though it was pleasing to see (for MM) that some of the recently soft sectors found some love, in what has been a tough few weeks of relative performance for our active growth strategy. Banks succumb to some profit-taking after a great run, and one can’t help but think, does a buy resources, sell banks trade make sense for the active traders out there?
A good session for the ASX with solid buying across all sectors. While the Resources and Energy still lagged broader gains, there was some obvious buying of the dip in some pockets, though financials were still the main driver at the index level as CBA hit a new closing high (again)!
A positive session to round our FY24 for the ASX, a year of two halves characterised by considerable divergence across sectors. The strong have grown stronger, with the Financials led by the banks surpassing even the most bullish expectations, while tech was again a standout. Overall, it’s been another solid year at Market Matters, we’ve welcomed aboard a wonderful number of new members, underpinned by solid performance on the portfolio side. We start FY25 with a clean sheet on Monday, and we’ll continue to work hard to deliver for our community of investors. Thank you to all who have taken advantage of our end-of-year offers – we’re thrilled to have you on board.
It was a very bullish day despite the ASX closing lower. Stocks were hit early as the hangover from yesterdays hotter inflation print worked through, however the 10.30am low was met with strong intra-day buying, the ASX 200 rallying +105pts with more stocks actually finishing up than down, plus, much of the property sector traded ex-dividend. Tech led the line, though resources, healthcare and retailers caught our eye for the right reasons.
A choppy session with the ASX ultimately giving back ~50% of yesterday’s advance in part due to a hotter than expected monthly inflation print for May. Expectations were for +3.8% YoY vs 4.0% realised, which saw bond yields meaningfully higher (bonds sold) as the market priced in a greater chance of a rate hike in August (now 30%) & September (now 60%). Aussie 3-year yields were up 17.5bps settling at 4.10% which underpinned a 0.6% rise in the AUD to 66.86c, along with a quick 45pt sell-off for equities
A better vibe to the ASX today with the market opening mildly higher and grinding bottom left to top right throughout the session as consistent buying in the banks was supported by a bounce back in large cap resources, and when those two sectors fire, its an easy task for the ASX to put on a quick ~100pts, with all-time highs now only ~2% away.
A nervous start to the week for local stocks ahead of an important inflation print locally on Wednesday (monthly CPI exp +3.8%) while PCE Data, the US Feds preferred measure on inflation, is released on Friday. While there are some lingering concerns that inflation is remaining sticky, there was a number of stock specific events that knocked confidence today pushing 10/11 sectors into the red.
A quiet day at the index level with no lead from the US overnight. 7 of 11 sectors finished in the red, though more than 50% of stocks in the ASX 200 were up on the day. The big news was the success of the Guyman y Gomez (GYG) IPO, which came on the market at midday, and rallied 36% - the best major IPO in years.
A muted session with no trade in the US tonight, though it was pleasing to see (for MM) that some of the recently soft sectors found some love, in what has been a tough few weeks of relative performance for our active growth strategy. Banks succumb to some profit-taking after a great run, and one can’t help but think, does a buy resources, sell banks trade make sense for the active traders out there?
A good session for the ASX with solid buying across all sectors. While the Resources and Energy still lagged broader gains, there was some obvious buying of the dip in some pockets, though financials were still the main driver at the index level as CBA hit a new closing high (again)!
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