An intriguing session today with our first crack at digesting what a Trump Presidency could mean locally. The overwhelming takeaway being higher interest rates are a negative for property & infrastructure, a stronger $US will hinder Gold & related equities which were hit , US earners should benefit and found some love, industrial commodities were okay given a better global growth outlook partially offsetting the headwind of a stronger greenback while the “drill baby drill” beneficiaries in mining services also found support.
US equity futures rallied, bonds yields traded materially higher (US 10’s +18bps), the $US Dollar Index up +1.4%, the AUD down the same amount & Bitcoin +8% all indicate that Trump is now a very short Favourite to win a 2nd term in office.
November is underway, with the US Presidential election (circus) just a few days away. As we start the weekend, markets are factoring in a Trump victory, but more “surprises" wouldn’t surprise.
October wrapped up in the red today, and it was a month of very mixed fortunes from a stock and sector perspective, though the index itself only tracked mildly lower, giving back ~20% of the stellar returns chalked up in September.
A soft session locally with sellers kicking into gear post a more benign inflation print at 11.30am, though there were some hotter pockets to it, and higher bonds and lower stock prices show how it was interpreted by the market, even though headline CPI at 2.8% came back into the RBA’s target band for the first time in 3-years.
A solid session today for the market, though once again the action is happening under the hood rather than at the index level with a bunch of sales/quarterly updates, an interesting deal in the retail space and a response with more substance from MinRes (MIN) about prevailing issues with their MD.
A choppy session with some big moves in individual stocks though the index finished only mildly higher. Uranium shares were hit, as were gold stocks while lithium names found a few friends.
A similar trend to yesterday with the best of the session seen early before consistent selling played out through the afternoon session, the index closing on its lows and down ~0.9% for the week.
A good ~40pt rally from the early lows saw the index higher by mid-afternoon, though the trend changed, sellers came in, and it was one way traffic into the close on another day dominated by AGM’s and trading updates with more misses than hits.
US equity futures rallied, bonds yields traded materially higher (US 10’s +18bps), the $US Dollar Index up +1.4%, the AUD down the same amount & Bitcoin +8% all indicate that Trump is now a very short Favourite to win a 2nd term in office.
November is underway, with the US Presidential election (circus) just a few days away. As we start the weekend, markets are factoring in a Trump victory, but more “surprises" wouldn’t surprise.
October wrapped up in the red today, and it was a month of very mixed fortunes from a stock and sector perspective, though the index itself only tracked mildly lower, giving back ~20% of the stellar returns chalked up in September.
A soft session locally with sellers kicking into gear post a more benign inflation print at 11.30am, though there were some hotter pockets to it, and higher bonds and lower stock prices show how it was interpreted by the market, even though headline CPI at 2.8% came back into the RBA’s target band for the first time in 3-years.
A solid session today for the market, though once again the action is happening under the hood rather than at the index level with a bunch of sales/quarterly updates, an interesting deal in the retail space and a response with more substance from MinRes (MIN) about prevailing issues with their MD.
A choppy session with some big moves in individual stocks though the index finished only mildly higher. Uranium shares were hit, as were gold stocks while lithium names found a few friends.
A similar trend to yesterday with the best of the session seen early before consistent selling played out through the afternoon session, the index closing on its lows and down ~0.9% for the week.
A good ~40pt rally from the early lows saw the index higher by mid-afternoon, though the trend changed, sellers came in, and it was one way traffic into the close on another day dominated by AGM’s and trading updates with more misses than hits.
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