A choppy session at the index level, although ultimately we ended pretty close to where we started down by ~15pts as a number of influential companies pared back losses despite a mixed bag of results. Materials were the winner thanks largely to ongoing strength in Copper & Iron Ore prices while some money came out of the Communications sector led by Telstra (TLS) which fell ~1.2%
A reasonable session at the index level today with some support emerging for the banks into weakness while BHP rose ahead of their results due out tomorrow. Overall, more misses than beats today as many of the reporting companies fell sharply, although overall, with 40% of companies having now reported, we still observe that beats are outnumbering misses (just).
The local market followed the overnight lead today as rising bond yields weighed on risk assets. The end of the market more leveraged to rates – Tech and Real Estate – were some the hardest hit while Energy was also under pressure as coal names continued their slide. Two sectors managed gains today despite the weakness, being Utilities and Consumer Staples.
A big day on the reporting front with more results than not topping expectations leading to good moves in many shares, while a higher-than-expected unemployment rate (3.7% v 3.5% exp) saw bond yields trickle lower, taking some pressure off the RBA.
The market was hit today as the influential banking sector weighed heavily on the index, accounting for ~2/3rds of the day’s decline. It actually wasn’t too bad elsewhere with 50% of the ASX trading higher, but when the average decline of the Big 4 is ~4.5%, it’s always going to be tough going.
The market opened with a bang this morning keying off a positive night overseas, however, the best of it was seen early with results more often than not underwhelming, while key US inflation data is due out tonight (6.2% YoY expected), and that will have a big bearing on the direction of stocks from here.
A quiet session to kick off the trading week with the Super Bowl taking centre stage as the Kansas City Chiefs knocked off the Philadelphia Eagles 38-35, in a very close contest.
A soft end to a tough week for stocks with the market down 1.65% across the five sessions - all sectors finishing lower with Real-Estate (-5.77%) suffering most at the hands of the RBA following a 25bps increase in cash rates, but more importantly, they guided for more to come.
Stocks pulled back today with 70% of the ASX 200 down and all sectors finishing in the red. Results continue to flow and there is clearly some caution around what comes next from an economic perspective - stocks that have been strong leading into updates at most risk given elevated expectations.
The ASX was higher today as company earnings took over the baton from central banks as the key driver of stocks, and overall, they were positive. The influential sectors of Financials + Materials led the line, a positive combination here rarely leads to a down day at the index level, while Energy stocks bounced back from recent weakness.
A reasonable session at the index level today with some support emerging for the banks into weakness while BHP rose ahead of their results due out tomorrow. Overall, more misses than beats today as many of the reporting companies fell sharply, although overall, with 40% of companies having now reported, we still observe that beats are outnumbering misses (just).
The local market followed the overnight lead today as rising bond yields weighed on risk assets. The end of the market more leveraged to rates – Tech and Real Estate – were some the hardest hit while Energy was also under pressure as coal names continued their slide. Two sectors managed gains today despite the weakness, being Utilities and Consumer Staples.
A big day on the reporting front with more results than not topping expectations leading to good moves in many shares, while a higher-than-expected unemployment rate (3.7% v 3.5% exp) saw bond yields trickle lower, taking some pressure off the RBA.
The market was hit today as the influential banking sector weighed heavily on the index, accounting for ~2/3rds of the day’s decline. It actually wasn’t too bad elsewhere with 50% of the ASX trading higher, but when the average decline of the Big 4 is ~4.5%, it’s always going to be tough going.
The market opened with a bang this morning keying off a positive night overseas, however, the best of it was seen early with results more often than not underwhelming, while key US inflation data is due out tonight (6.2% YoY expected), and that will have a big bearing on the direction of stocks from here.
A quiet session to kick off the trading week with the Super Bowl taking centre stage as the Kansas City Chiefs knocked off the Philadelphia Eagles 38-35, in a very close contest.
A soft end to a tough week for stocks with the market down 1.65% across the five sessions - all sectors finishing lower with Real-Estate (-5.77%) suffering most at the hands of the RBA following a 25bps increase in cash rates, but more importantly, they guided for more to come.
Stocks pulled back today with 70% of the ASX 200 down and all sectors finishing in the red. Results continue to flow and there is clearly some caution around what comes next from an economic perspective - stocks that have been strong leading into updates at most risk given elevated expectations.
The ASX was higher today as company earnings took over the baton from central banks as the key driver of stocks, and overall, they were positive. The influential sectors of Financials + Materials led the line, a positive combination here rarely leads to a down day at the index level, while Energy stocks bounced back from recent weakness.
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