It was a soggy start to the session today, but buyers came to life mid-morning when some local data prints landed. Inflation (CPI) for January came in below expectations at 7.4%, below the 8% expected by the market while GDP Growth for the 4th quarter was 0.5% vs 0.7% expected. The data took some heat out of bond yields and helped support shares today, while China’s Caixin PMI was also above expectations which supported resource names into the afternoon.
The market ended a tough month on the front foot with the material sector seeing some rare buying, while Energy & Property also chimed in. Over the course of the 28 days of February, resources were the biggest drag on the index which fell by ~3% overall, clearly a weak period for stocks but against the backdrop of January’s ~6% advance, it’s no disaster, particularly given bond yield find themselves back testing multi-year highs.
Local shares started the week on the back foot following a soft Friday night in the US. Inflation concerns picked up again after the previous PCE figure was revised higher and bond yields rallied as a result.
Overall, the week was a soft one (-0.56%) dominated by company results, a lot of moving parts in the market at the moment however earnings have been okay, not a disaster as many suggested, while the focus at the macro at least remains around the trajectory of interest rates.
A softer session for the market, but again there was a lot happening under the hood as you’d expect with reporting season still in full swing - although tapering off from here. 60% of the ASX actually rallied today although when the Materials are down ~1.5% it’s always going to be tough going at the index level.
An interesting session today with the market getting knocked ~60pts early on following a ~700pt fall by the Dow Jones in the US, however wage data that was weaker than expected saw the AUD fall, bond yields fall and equities rally strongly from the morning lows to finish only a lower, particularly when we strip out the impact of dividends with CBA trading Ex-Div for $2.10 + franking today.
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 ended a tough month on the front foot with the material sector seeing some rare buying, while Energy & Property also chimed in. Over the course of the 28 days of February, resources were the biggest drag on the index which fell by ~3% overall, clearly a weak period for stocks but against the backdrop of January’s ~6% advance, it’s no disaster, particularly given bond yield find themselves back testing multi-year highs.
Local shares started the week on the back foot following a soft Friday night in the US. Inflation concerns picked up again after the previous PCE figure was revised higher and bond yields rallied as a result.
Overall, the week was a soft one (-0.56%) dominated by company results, a lot of moving parts in the market at the moment however earnings have been okay, not a disaster as many suggested, while the focus at the macro at least remains around the trajectory of interest rates.
A softer session for the market, but again there was a lot happening under the hood as you’d expect with reporting season still in full swing - although tapering off from here. 60% of the ASX actually rallied today although when the Materials are down ~1.5% it’s always going to be tough going at the index level.
An interesting session today with the market getting knocked ~60pts early on following a ~700pt fall by the Dow Jones in the US, however wage data that was weaker than expected saw the AUD fall, bond yields fall and equities rally strongly from the morning lows to finish only a lower, particularly when we strip out the impact of dividends with CBA trading Ex-Div for $2.10 + franking today.
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.
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