The market opened strongly this morning up +73 points reaching another intra-day all-time high of 8566 before the froth blew off and it settled up +38pts, still a new all-time closing high of 8532 – the first time the index has closed above 8500 after multiple failed attempts back in early December.
The ASX hit a new all-time high around lunchtime, though only by a whisker, printing 8515, 1pt above its 6th of December milestone, but we’ll take it! Interest rate expectations are getting a lot of airtime with NAB the last of the big four to join the call for a Feb rate cut – the market is well and truly expecting the RBA to finally make a move, the first change since they raised rates in November of 2023.
It was a reversal of fortune for some of the AI-related companies today that suffered yesterday after a bounce in the U.S overnight fueled performance in tech, property and energy this morning. A softer than expected inflation print hit at 11.30am adding breadth to the move higher with the index up over 80pts at one point, before selling kicked in late to take some shine off the move.
The ASX held up well today despite a savage sell off in the mega cap tech stocks over night in the U.S. The index traded in a tight range relative to other markets, down 30 points in the morning, bouncing to close flat; the resilience driven by a lack of exposure to tech as we saw some flight to safety in banks.
A decent session in Oz today with the retailers generally doing well pushing the consumer discretionary sector up more than 2% - a few stock specific influences at play. A positive week overall for markets, the final one with a partial holiday vibe, with those stragglers taking extended holidays back on deck post the Australia Day holiday on Monday.
A solid session overnight in the U.S didn’t translate to the ASX today – the differentials in sector composition on full display. Resources were hit hard as lower commodity prices weighed, with the local bourse lacking a real tech sector to offset that weakness.
Another choppy session with the best of it seen early, the ASX hitting a 8455 high before tapering off in the afternoon session, though we still closed higher. Asian markets were softer despite Trump commenting about a 10% tariff on China, a far cry from the 60% suggested during the election, but that failed to have any impact on the Material sector, with a bunch of production updates the greater influence.
Volatility is back as Trump gets his feet under the desk in the Oval Office; the ASX 200 trading in a broad ~100pt trading range today finishing around the mid-point as he pushed through ~100 executive orders that ranged from curtailing hiring of federal employees, freezing regulations, withdrawing the U.S. from a climate treaty to fight global warming, promoting development of domestic energy production, and taking action to reduce consumer costs, among others.
Positive sentiment spilled over from the U.S in anticipation of Donald Trump’s inauguration tonight and the rumoured ~100 executive orders due to come along with it; the actions expected to address tariffs, immigration and the energy sector straight off the bat.
A fairly flat end to what has been a positive year for Markets, albeit with one trading day to go (27th December). The ASX 200 is up ~8%, a solid outcome, though when we compare it to US markets it’s certainly underwhelming against the S&P500 up ~25%. Having international exposure during 2024 has certainly driven better performance.
The ASX hit a new all-time high around lunchtime, though only by a whisker, printing 8515, 1pt above its 6th of December milestone, but we’ll take it! Interest rate expectations are getting a lot of airtime with NAB the last of the big four to join the call for a Feb rate cut – the market is well and truly expecting the RBA to finally make a move, the first change since they raised rates in November of 2023.
It was a reversal of fortune for some of the AI-related companies today that suffered yesterday after a bounce in the U.S overnight fueled performance in tech, property and energy this morning. A softer than expected inflation print hit at 11.30am adding breadth to the move higher with the index up over 80pts at one point, before selling kicked in late to take some shine off the move.
The ASX held up well today despite a savage sell off in the mega cap tech stocks over night in the U.S. The index traded in a tight range relative to other markets, down 30 points in the morning, bouncing to close flat; the resilience driven by a lack of exposure to tech as we saw some flight to safety in banks.
A decent session in Oz today with the retailers generally doing well pushing the consumer discretionary sector up more than 2% - a few stock specific influences at play. A positive week overall for markets, the final one with a partial holiday vibe, with those stragglers taking extended holidays back on deck post the Australia Day holiday on Monday.
A solid session overnight in the U.S didn’t translate to the ASX today – the differentials in sector composition on full display. Resources were hit hard as lower commodity prices weighed, with the local bourse lacking a real tech sector to offset that weakness.
Another choppy session with the best of it seen early, the ASX hitting a 8455 high before tapering off in the afternoon session, though we still closed higher. Asian markets were softer despite Trump commenting about a 10% tariff on China, a far cry from the 60% suggested during the election, but that failed to have any impact on the Material sector, with a bunch of production updates the greater influence.
Volatility is back as Trump gets his feet under the desk in the Oval Office; the ASX 200 trading in a broad ~100pt trading range today finishing around the mid-point as he pushed through ~100 executive orders that ranged from curtailing hiring of federal employees, freezing regulations, withdrawing the U.S. from a climate treaty to fight global warming, promoting development of domestic energy production, and taking action to reduce consumer costs, among others.
Positive sentiment spilled over from the U.S in anticipation of Donald Trump’s inauguration tonight and the rumoured ~100 executive orders due to come along with it; the actions expected to address tariffs, immigration and the energy sector straight off the bat.
A fairly flat end to what has been a positive year for Markets, albeit with one trading day to go (27th December). The ASX 200 is up ~8%, a solid outcome, though when we compare it to US markets it’s certainly underwhelming against the S&P500 up ~25%. Having international exposure during 2024 has certainly driven better performance.
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