A choppy week on multiple levels with the macro-economic backdrop throwing up some surprises while local and US reporting season ensured a lot of earnings-driven variance across the market. While the week ultimately ended flat at the index level, nearly 20% of the ASX 200 finished higher or lower by more than 5%, although twice as many stocks were up by that quantum than down, driven by what’s generally been a very good results period so far.
The market bounced back nicely today, recouping yesterday’s losses underpinned by good company results – good only fashioned earnings are driving prices, while an eye-watering bid for Altium (ALU) also added some spice to the mix. Lots of companies we own out with numbers today, mostly good, but a couple below par.
While the market was down today, it traded a long way up from the session lows as ‘buy the dip’ played out fairly aggressively. SPI Futures ended the day +70pts above their 7am lows supported by company results that were better than expected/feared in most cases, and importantly, the market is prepared to reward the beats.
Volatility is picking up as reporting season builds steam, with some outsized moves permeating through some household names today, more misses than beats which reversed the recent trend.
A softer start to the week with the ASX dipping 0.4%, however, it was very stock specific with CSL down ~5% which accounted for 21pts of the ASX 200’s 30pt loss, while Materials & Energy were also on the nose.
Not a lot to invigorate markets today as the index chopped in and out of positive territory. The Uranium stocks saw the most activity following Cameco’s (CCJ US) quarterly result overnight, a topic we’ll cover below. Elsewhere, IT was as strong as Energy was weak and on a market that did little, it was not surprising that winners and losers were split evenly.
Another small gain for the market today took the ASX200 to around 1% below the all-time highs set last week. The banks did the heavy lifting, the Big 4 accounting for around half of the gain by the index, joined by strength in Tech, Utilities and Real Estate.
With the RBA call now out of the way, the market focused on stimulus in China and some better-than-expected earnings reports, lifting the index after two weak sessions. Beaten-down resources stocks bounced aggressively, but Utilities & Real Estate was the winner today. Some M&A news caused Energy to underperform, while the consumer-facing sectors also lagged.
A choppy session with the ASX down ~80 points early and in quick succession too before recovering ~50% of the morning declines. Reporting starting to kick into gear while the RBA took centre stage this afternoon in a new format meeting + a press conference to boot!
A soggy start to the week for the ASX as weakness in the resources sector weighed heavily on the broader market, although banks traded well up from their session lows and healthcare stocks showed some backbone.
The market bounced back nicely today, recouping yesterday’s losses underpinned by good company results – good only fashioned earnings are driving prices, while an eye-watering bid for Altium (ALU) also added some spice to the mix. Lots of companies we own out with numbers today, mostly good, but a couple below par.
While the market was down today, it traded a long way up from the session lows as ‘buy the dip’ played out fairly aggressively. SPI Futures ended the day +70pts above their 7am lows supported by company results that were better than expected/feared in most cases, and importantly, the market is prepared to reward the beats.
Volatility is picking up as reporting season builds steam, with some outsized moves permeating through some household names today, more misses than beats which reversed the recent trend.
A softer start to the week with the ASX dipping 0.4%, however, it was very stock specific with CSL down ~5% which accounted for 21pts of the ASX 200’s 30pt loss, while Materials & Energy were also on the nose.
Not a lot to invigorate markets today as the index chopped in and out of positive territory. The Uranium stocks saw the most activity following Cameco’s (CCJ US) quarterly result overnight, a topic we’ll cover below. Elsewhere, IT was as strong as Energy was weak and on a market that did little, it was not surprising that winners and losers were split evenly.
Another small gain for the market today took the ASX200 to around 1% below the all-time highs set last week. The banks did the heavy lifting, the Big 4 accounting for around half of the gain by the index, joined by strength in Tech, Utilities and Real Estate.
With the RBA call now out of the way, the market focused on stimulus in China and some better-than-expected earnings reports, lifting the index after two weak sessions. Beaten-down resources stocks bounced aggressively, but Utilities & Real Estate was the winner today. Some M&A news caused Energy to underperform, while the consumer-facing sectors also lagged.
A choppy session with the ASX down ~80 points early and in quick succession too before recovering ~50% of the morning declines. Reporting starting to kick into gear while the RBA took centre stage this afternoon in a new format meeting + a press conference to boot!
A soggy start to the week for the ASX as weakness in the resources sector weighed heavily on the broader market, although banks traded well up from their session lows and healthcare stocks showed some backbone.
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