We wrapped up a huge FY24 reporting period today, and while the market finished the month up just ~0.3% inclusive of dividends, there were some incredible moves under the hood, as outlined in the tables below. For now, we must respect the trend, and if we do get a scenario of lower interest rates, yet economies hold up, equities should do very well – a glass-half-full view to end a huge month for markets and MM content!
A softer session for the ASX today, though once again, strong buying of the dip played out with the index finishing ~30 points up from the lows, moving inline with US Futures that tracked higher during our time zone after initial weakness prompted by an afterhours sell-off in Nvidia.
The ASX opened firmly on the backfoot and selling intensified post a hotter than expected monthly inflation read at 11.30am, down ~60pts at the lows before a consistent/impressive grind back up to par by the close – the buy the dip mentality remains in play!
A big day of reporting across Market Matters Portfolios with some hits and a few misses, particularly amongst the smaller companies. Overall, it felt like the market lost some steam after a squeeze higher in early trade. While calling tops is fraught with danger, we wouldn’t be surprised to see some consolidation from here.
The first fall in 11 trading days for the ASX, though it was only marginal on a day that saw far fewer companies report results, and certainly less influential names from an index perspective.
The ASX extended its longest winning streak in almost a decade, notching up its 10th consecutive positive day. There is nothing not to like at the moment, with rate cuts around the corner and earnings season delivering more beats than misses.
A big turnaround from lunchtime onwards saw a ~40pt decline in the market early turn into a modest gain, underpinned at the index level at least, by a resurgence from resources, while strong results from Wisetech (WTC) had a significant influence on the IT sector’s performance.
The ASX chalked up its longest winning streak since January with an eighth day of gains today underpinned by technology shares, though it was a rare day where resources chimed in with a positive move offsetting some profit taking in the banks.
A mildly positive session to start the week, though the gains at the index level were all down to the banks following a positive quarterly update from Westpac, which offset weakness elsewhere; ~55% of the main board ended lower despite a positive session overall.
A softer session for the ASX today, though once again, strong buying of the dip played out with the index finishing ~30 points up from the lows, moving inline with US Futures that tracked higher during our time zone after initial weakness prompted by an afterhours sell-off in Nvidia.
The ASX opened firmly on the backfoot and selling intensified post a hotter than expected monthly inflation read at 11.30am, down ~60pts at the lows before a consistent/impressive grind back up to par by the close – the buy the dip mentality remains in play!
A big day of reporting across Market Matters Portfolios with some hits and a few misses, particularly amongst the smaller companies. Overall, it felt like the market lost some steam after a squeeze higher in early trade. While calling tops is fraught with danger, we wouldn’t be surprised to see some consolidation from here.
The first fall in 11 trading days for the ASX, though it was only marginal on a day that saw far fewer companies report results, and certainly less influential names from an index perspective.
The ASX extended its longest winning streak in almost a decade, notching up its 10th consecutive positive day. There is nothing not to like at the moment, with rate cuts around the corner and earnings season delivering more beats than misses.
A big turnaround from lunchtime onwards saw a ~40pt decline in the market early turn into a modest gain, underpinned at the index level at least, by a resurgence from resources, while strong results from Wisetech (WTC) had a significant influence on the IT sector’s performance.
The ASX chalked up its longest winning streak since January with an eighth day of gains today underpinned by technology shares, though it was a rare day where resources chimed in with a positive move offsetting some profit taking in the banks.
A mildly positive session to start the week, though the gains at the index level were all down to the banks following a positive quarterly update from Westpac, which offset weakness elsewhere; ~55% of the main board ended lower despite a positive session overall.
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