The ASX opened with a bang this morning buoyed by a strong session on Friday night in the US + US Futures also opened +0.75% higher this morning, although as they tapered off, our market followed suit having seen an early high of 6823 we ultimately closed more than ~40pts below it, although still a solid session.
The ASX limped into the weekend although we did edge marginally higher for the week with two distinctive halves. The bulls were out early with a combination of consolidation in bond yields and strong earnings sending global stocks higher, before Fed officials refocused attention back on inflation and interest rates sending bond yields to new cycle highs.
A tough day at the office for some areas of the market with a few stocks dropping double digits on weaker-than-expected updates, while interest rate sensitive sectors were back on the nose as US 10-year yields break above 4.1% e.g. Consumer Discretionary, Tech, and Healthcare. There was certainly no real bargain hunting on show, understandable as the Fed meeting looms in less than 2-weeks, “if in doubt stay out!”.
Another positive session for the ASX today with the market edging higher and is now ~400pts/6% up from the recent lows. AGM season is well underway and some hits and misses as always, with a lot of action under the hood. Yesterday a key holding was up 14%, today one is down 20%....Rocks and diamonds and volatility will likely persist.
A very solid session for Australian stocks with a buoyant open built on throughout the day as Asian markets + US Futures rallied on growing optimism towards the current pickle in the UK. Risk was back on the table led by strong buying amongst the IT stocks along with Real-Estate, the only segment of the market that fell was Energy as some money rotated into the more beaten-up areas.
The market gave back ~95% of Friday’s gains today however it didn’t feel like an overly bearish session with some green tickers emerging throughout the session, particularly some technology stocks that moved a long way up from their session lows while the Real-Estate sector was the best relative performer. US Futures edged higher, the British Pound also gained ~1% during the Asian session implying that rhetoric coming from the new Chancellor is being taken more favourably.
Friday delivered a very different story to most of 2021/22 with stocks rallying aggressively following a stronger than expected US inflation print. The risk on theme from Thursday night which saw the Dow surge over 800-points followed through locally with the ASX200 posting a solid triple digit gain with losers very thin on the ground as all 11 sectors rallied by over 1%, it might not feel like it but October is now up around 300-points and were still only mid-month.
A choppy session for the ASX today with weakness bought early pushing the index up ~30pts at its best before we gave up those gains and some by the close – not surprising really given the significance of the data due out in the US tonight with consensus expectations outlined below.
The ASX tried to rally today and was looking okay before a large seller pushed the index down 25pts in the match as the intra-day chart shows below. US CPI remains the core focus this week, and a higher number will be taken poorly we suspect, while signs that inflation has peaked will likely be met with solid buying.
The ASX gave up some early strength to close lower today with most action taking place in bond & currency markets which proved the key influence on stocks, the Australian 10-year yield back above 4% while the Australian dollar remained under pressure at 62.75c around our close.
The ASX limped into the weekend although we did edge marginally higher for the week with two distinctive halves. The bulls were out early with a combination of consolidation in bond yields and strong earnings sending global stocks higher, before Fed officials refocused attention back on inflation and interest rates sending bond yields to new cycle highs.
A tough day at the office for some areas of the market with a few stocks dropping double digits on weaker-than-expected updates, while interest rate sensitive sectors were back on the nose as US 10-year yields break above 4.1% e.g. Consumer Discretionary, Tech, and Healthcare. There was certainly no real bargain hunting on show, understandable as the Fed meeting looms in less than 2-weeks, “if in doubt stay out!”.
Another positive session for the ASX today with the market edging higher and is now ~400pts/6% up from the recent lows. AGM season is well underway and some hits and misses as always, with a lot of action under the hood. Yesterday a key holding was up 14%, today one is down 20%....Rocks and diamonds and volatility will likely persist.
A very solid session for Australian stocks with a buoyant open built on throughout the day as Asian markets + US Futures rallied on growing optimism towards the current pickle in the UK. Risk was back on the table led by strong buying amongst the IT stocks along with Real-Estate, the only segment of the market that fell was Energy as some money rotated into the more beaten-up areas.
The market gave back ~95% of Friday’s gains today however it didn’t feel like an overly bearish session with some green tickers emerging throughout the session, particularly some technology stocks that moved a long way up from their session lows while the Real-Estate sector was the best relative performer. US Futures edged higher, the British Pound also gained ~1% during the Asian session implying that rhetoric coming from the new Chancellor is being taken more favourably.
Friday delivered a very different story to most of 2021/22 with stocks rallying aggressively following a stronger than expected US inflation print. The risk on theme from Thursday night which saw the Dow surge over 800-points followed through locally with the ASX200 posting a solid triple digit gain with losers very thin on the ground as all 11 sectors rallied by over 1%, it might not feel like it but October is now up around 300-points and were still only mid-month.
A choppy session for the ASX today with weakness bought early pushing the index up ~30pts at its best before we gave up those gains and some by the close – not surprising really given the significance of the data due out in the US tonight with consensus expectations outlined below.
The ASX tried to rally today and was looking okay before a large seller pushed the index down 25pts in the match as the intra-day chart shows below. US CPI remains the core focus this week, and a higher number will be taken poorly we suspect, while signs that inflation has peaked will likely be met with solid buying.
The ASX gave up some early strength to close lower today with most action taking place in bond & currency markets which proved the key influence on stocks, the Australian 10-year yield back above 4% while the Australian dollar remained under pressure at 62.75c around our close.
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