The ASX had a positive session, although finished ~40pts below the highs after the latest RBA minutes showed another rate hike is not off the table. The list of today’s winners is an eclectic bunch with one thing in common, most have had a horrible last 12-months, perhaps some bargain hunting might be about to emerge.
A lacklustre session locally with a smorgasbord of uncertainty playing into investor minds, a -0.35% fall was okay considering the news flow. Energy and material stocks were reasonably well supported, although considering what Oil & Gold prices did overseas, no one got carried away, while technology tracked their overseas counterparts lower.
A quiet but (marginally) positive session played out in Oz today with the banks and miners supporting the broader index, while the Healthcare sector continues to struggle, news overnight knocking the sector again today. US CPI Inflation due for release tonight will be telling and could dictate market trends from here, just as bond yields are starting to cool.
A positive session for the ASX, its fifth in a row with the market bouncing well from the bottom of its trading range as pressure on bond yields eased underpinning broad based buying across equities, 75% of the main board finished up on the session and no sector finishing down.
A solid session for stocks today, buoyed by a positive overseas lead along with further local data that suggests price pressures are easing taking the pressure off inflation and thus interest rates. All sectors finished higher on the session with 85% of the main board ending in the green, pushing the ASX 200 back up through 7000, all the more impressive given our two largest sectors lagged the broader advance.
The ASX was higher today (+16pts), though it finished up less than SPI Futures (+58pts) had implied on Saturday morning, the atrocious attacks by Hamas within Israel over the weekend that left hundreds dead has created another level of complexity, leading to higher Oil & Gold prices across Asia today, while we all hope and pray for a quick resolution, it appears unlikely.
Local shares tracked higher into the weekend with the big end of town doing the heavy lifting. Banks were well supported, as were iron ore stocks as China’s Golden week wraps up and reports that the China Mineral Resources Group is getting on the front foot to secure supply for 2024. The Energy rout continued though with oil tumbling this week, a sharp ~8% decline put plenty of pressure on the sector, but’s it’s good from an inflation perspective.
Some respite across the ASX today with the market bouncing from the bottom of its trading range despite a fairly brutal night across material and energy stocks, both sectors lagged today but the slack was more than taken up by interest rate sensitive names, property stocks enjoyed the pullback in US bond yields which flowed through to our own bond market today while Tech rebounded nicely from an aggressive 3-week, 13% pullback that has improved the risk/reward materially in the number of the large cap names.
Another sell-off today with the ASX hitting the lowest close in 11-months, although the selling is fairly anaemic in nature and on very light holidays volumes, but still, the direction of least resistance has clearly been down since the ASX 200 peaked at the end of July at 7472, now down ~600pts/8% from that milestone, back at the very bottom of its 12-month trading range.
A lacklustre session locally with a smorgasbord of uncertainty playing into investor minds, a -0.35% fall was okay considering the news flow. Energy and material stocks were reasonably well supported, although considering what Oil & Gold prices did overseas, no one got carried away, while technology tracked their overseas counterparts lower.
A quiet but (marginally) positive session played out in Oz today with the banks and miners supporting the broader index, while the Healthcare sector continues to struggle, news overnight knocking the sector again today. US CPI Inflation due for release tonight will be telling and could dictate market trends from here, just as bond yields are starting to cool.
A positive session for the ASX, its fifth in a row with the market bouncing well from the bottom of its trading range as pressure on bond yields eased underpinning broad based buying across equities, 75% of the main board finished up on the session and no sector finishing down.
A solid session for stocks today, buoyed by a positive overseas lead along with further local data that suggests price pressures are easing taking the pressure off inflation and thus interest rates. All sectors finished higher on the session with 85% of the main board ending in the green, pushing the ASX 200 back up through 7000, all the more impressive given our two largest sectors lagged the broader advance.
The ASX was higher today (+16pts), though it finished up less than SPI Futures (+58pts) had implied on Saturday morning, the atrocious attacks by Hamas within Israel over the weekend that left hundreds dead has created another level of complexity, leading to higher Oil & Gold prices across Asia today, while we all hope and pray for a quick resolution, it appears unlikely.
Local shares tracked higher into the weekend with the big end of town doing the heavy lifting. Banks were well supported, as were iron ore stocks as China’s Golden week wraps up and reports that the China Mineral Resources Group is getting on the front foot to secure supply for 2024. The Energy rout continued though with oil tumbling this week, a sharp ~8% decline put plenty of pressure on the sector, but’s it’s good from an inflation perspective.
Some respite across the ASX today with the market bouncing from the bottom of its trading range despite a fairly brutal night across material and energy stocks, both sectors lagged today but the slack was more than taken up by interest rate sensitive names, property stocks enjoyed the pullback in US bond yields which flowed through to our own bond market today while Tech rebounded nicely from an aggressive 3-week, 13% pullback that has improved the risk/reward materially in the number of the large cap names.
Another sell-off today with the ASX hitting the lowest close in 11-months, although the selling is fairly anaemic in nature and on very light holidays volumes, but still, the direction of least resistance has clearly been down since the ASX 200 peaked at the end of July at 7472, now down ~600pts/8% from that milestone, back at the very bottom of its 12-month trading range.
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