The market recouped almost 50% of yesterday’s losses today thanks largely to companies reporting stronger earnings. Some big beats played out which helped to improve the overall tone of the market, the Energy sector once again leading the way although support also came from the IT and Material names.
The bears re-emerged today with the ASX down 1.2% after a solid run in recent weeks. Banking stocks were the biggest drag at the index level, it’s been a while since we’ve seen the sector down ~2% in a session.
A soft session to kick off the new trading week with all sectors finishing lower, although a big variance in the magnitude of moves. As of this morning, 58% of the market had reported results and so far, they have been better than feared with the beat-to-miss ratio running at 3:2, however, the big test comes this week with more domestically focussed consumer stocks out with numbers.
A subdued end to a positive week for the ASX with Energy & Material stocks the only real shining light while there were a few hits and misses from reporting, MM chalking up our first ‘landmine’ in TPG Telecom (TPG) which dampened what was an otherwise strong week across portfolios.
A weaker session today for the ASX with some hits and misses from companies that reported. Energy stocks were strong, Coal names continuing their recent momentum while IT fell on higher bond yields and some weaker commentary from heavyweight Xero (XRO).
Following a stronger than expected result from retail goliath Walmart overnight, the retailers led the ASX higher today with both the consumer discretionary & consumer staples sectors leading the line, while a decline by CSL weighed on the healthcare sector. Overall, reporting continues to be better than expected, Aussie corporates showing resilience and guidance is holding up in a general sense, meaning that dips are being bought at the index level.
A strong open to trade this morning with the market buoyed by a very positive update from BHP, however, the best of it was seen early before a few sellers crept out of the shadows mid-morning. Stepping back for a moment, the ASX 200 peaked at 7624 on the 20TH April, coincidentally on my 40th birthday, before falling 1217 points / 16% to 6407 on the 20th of June - hopefully not a broader omen on life! From that low, the market has rallied 724pts...
A positive session to kick off the new trading week, one where reporting really starts to ramp up. Property & Consumer Discretionary stocks the driving force today, clearly the outcomes being achieved here are better than feared and stocks are rallying from a low base, while Energy & Financials underperformed.
A softer session to end a positive week for the ASX with the first full week of local reporting proving to be okay. Energy rallied back today, so too did the Telco’s while Property lost some of yesterday’s lustre.
The ASX opened with a bang this morning rallying off the back of a strong session in the US following signs that inflation has peaked, CPI printing 8.5% versus 8.7% expected. This is a big deal, uncontained inflation is the reason why rates have risen so aggressively and why risk assets had been sold off. Stabilisation here provides more certainty and more certainty gives confidence, and we all know the market ebbs and flows in the short term on this metric.
The bears re-emerged today with the ASX down 1.2% after a solid run in recent weeks. Banking stocks were the biggest drag at the index level, it’s been a while since we’ve seen the sector down ~2% in a session.
A soft session to kick off the new trading week with all sectors finishing lower, although a big variance in the magnitude of moves. As of this morning, 58% of the market had reported results and so far, they have been better than feared with the beat-to-miss ratio running at 3:2, however, the big test comes this week with more domestically focussed consumer stocks out with numbers.
A subdued end to a positive week for the ASX with Energy & Material stocks the only real shining light while there were a few hits and misses from reporting, MM chalking up our first ‘landmine’ in TPG Telecom (TPG) which dampened what was an otherwise strong week across portfolios.
A weaker session today for the ASX with some hits and misses from companies that reported. Energy stocks were strong, Coal names continuing their recent momentum while IT fell on higher bond yields and some weaker commentary from heavyweight Xero (XRO).
Following a stronger than expected result from retail goliath Walmart overnight, the retailers led the ASX higher today with both the consumer discretionary & consumer staples sectors leading the line, while a decline by CSL weighed on the healthcare sector. Overall, reporting continues to be better than expected, Aussie corporates showing resilience and guidance is holding up in a general sense, meaning that dips are being bought at the index level.
A strong open to trade this morning with the market buoyed by a very positive update from BHP, however, the best of it was seen early before a few sellers crept out of the shadows mid-morning. Stepping back for a moment, the ASX 200 peaked at 7624 on the 20TH April, coincidentally on my 40th birthday, before falling 1217 points / 16% to 6407 on the 20th of June - hopefully not a broader omen on life! From that low, the market has rallied 724pts...
A positive session to kick off the new trading week, one where reporting really starts to ramp up. Property & Consumer Discretionary stocks the driving force today, clearly the outcomes being achieved here are better than feared and stocks are rallying from a low base, while Energy & Financials underperformed.
A softer session to end a positive week for the ASX with the first full week of local reporting proving to be okay. Energy rallied back today, so too did the Telco’s while Property lost some of yesterday’s lustre.
The ASX opened with a bang this morning rallying off the back of a strong session in the US following signs that inflation has peaked, CPI printing 8.5% versus 8.7% expected. This is a big deal, uncontained inflation is the reason why rates have risen so aggressively and why risk assets had been sold off. Stabilisation here provides more certainty and more certainty gives confidence, and we all know the market ebbs and flows in the short term on this metric.
Check your email for an email from [email protected]
Subject: Your OTP for Account Access
This email will have a code you can use as your One Time Password for instant access
Verication email sent.
Check your email for an email from [email protected]
Subject: Your OTP for Account Access
This email will have a code you can use as your One Time Password for instant access
!
Invalid One Time Password
Please check you entered the correct info, please also note there is a 10minute time limit on the One Time Passcode
To reset your password, enter your email address
A link to create a new password will be sent to the email address you have registered to your account.
Market Matters members receive daily market reports, real-time trade alerts, full access to 5 portfolios and dynamic company data.
Choose how you'd like to proceed:
We have a range of membership options to suit your needs and budget, why not join today and get unlimited access to the premium Market Matters service.
