A bit of a nothing end to the week with the ASX down mildly as we await key employment data from the US tonight, and digest the Labour Party win in the UK, ahead of the 2nd round of French elections this weekend. After a shaky start to FY25, we got our mojo back midweek to chalk up a reasonable gain, underpinned by good moves from Energy & Resources.
While it was far from convincing, the ASX chalked up its first positive session for FY25 today, with the sectors that have been ‘doing it tough’ contributing most to the gains, plus of course the IT stocks that remain well supported. Uranium shares rallied and so too did the coal companies as they chalk up strong gains for the week so far, while weakness across the banks tempered enthusiasm at the index level.
Back-to-back losses for the ASX to kick off FY25 with broad-based selling knocking 10 of 11 sectors lower, though only one sector fell by more than 1%. On the flip side, Energy was again the standout with Coal stocks breaking out amid supply disruptions.
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.
While it was far from convincing, the ASX chalked up its first positive session for FY25 today, with the sectors that have been ‘doing it tough’ contributing most to the gains, plus of course the IT stocks that remain well supported. Uranium shares rallied and so too did the coal companies as they chalk up strong gains for the week so far, while weakness across the banks tempered enthusiasm at the index level.
Back-to-back losses for the ASX to kick off FY25 with broad-based selling knocking 10 of 11 sectors lower, though only one sector fell by more than 1%. On the flip side, Energy was again the standout with Coal stocks breaking out amid supply disruptions.
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.
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