A bullish but quiet session to kick off the week with the market opening sharply higher but losing some direction as the day progressed, no trade in the US tonight (closed for 4th July) the reason however locally, we’re now approaching full year reporting so companies are in blackout and therefore news is thin on the ground.
The market opened well this morning, up more than ~50pts at our high, however once again US Futures traded lower throughout our time zone and Aussie stocks followed suit, closing only marginally higher. It was the resources weighing significantly with most sectors finishing in the green despite the weaker index. Some of the more unloved parts of the market over the last quarter caught a bid today with Real Estate popping 1.45% just one example.
A fitting way to end a tough year for markets with the ASX losing ~2% to close back below 6600, and on the low of the day. For FY22, the ASX 200 is down 10.19% with a 38% fall by the IT sector the starkest of stats, while Consumer Discretionary (-23%) and Real-Estate (-16%) also fell sharply i.e. the sectors most influenced by interest rates. On the flip side, a lot of joy came from Energy (+29%) and Utilities (+24%), while the Industrials (+0.76%), Staples (-2%), Materials (-9%) & Telcos (-9%) all outperformed the broader market to varying degrees. As we suggested...
The ASX gave back yesterday’s gains today with Real-Estate and IT feeling the pinch, although the influential banks finished higher while pockets of the resources sector also held up well. The worst of the day’s price action was seen at midday before the index edged higher into the close – not a lot happening in US Futures on either side of the ledger.
Back-to-back strength for the Australian market with the ASX now up 350pts / 5.5% from the recent low ~6400. Energy the standout today as Oil rallied, reports of a price cap for Russian exports the catalyst while the headline in the AFR this afternoon that suggest investors are fleeing the share market for the ‘safety’ of property seems another bullish short-term indicator for equity markets!
A solid start to the week with the ASX putting on nearly 2% led by the financial sector, although it was green right across the screen with all sectors finishing up on the day. Nice to see buying early that was supported throughout the day with the market closing near session highs – some confidence returning, at least in the short term!
It was certainly a ‘risk on’ session today with the Small Ordinaries (+3.20%) creaming the large caps (+0.77%) while drilling down into the relative sector performances also highlighted that skew, Technology the standout while other interest rate-sensitive sectors like real-estate did well. A good way to end a reasonable week for the market, while at Market Matters we also went live with a new version of our website, which brings in market data, advanced charting, company financials and broker forecasts, into what we think is a very user-friendly platform.
A fairly muted session today on the ASX with the defensive sectors doing well while those exposed to economic weakness struggled. Energy is at the pointy end of that, a crowded trade that is unwinding however if we see another ~10% downside we’ll likely step back into the sector.
An average day for the ASX with the market giving up an early advance after a solid session in the US overnight, US Futures turning lower during our time zone and weakness throughout Asia didn’t help.
The ASX bounced today with some optimism returning to the screens, particularly the index influences with both banks & the resource /energy stocks finding some form while the defensive areas saw profit-taking.
The market opened well this morning, up more than ~50pts at our high, however once again US Futures traded lower throughout our time zone and Aussie stocks followed suit, closing only marginally higher. It was the resources weighing significantly with most sectors finishing in the green despite the weaker index. Some of the more unloved parts of the market over the last quarter caught a bid today with Real Estate popping 1.45% just one example.
A fitting way to end a tough year for markets with the ASX losing ~2% to close back below 6600, and on the low of the day. For FY22, the ASX 200 is down 10.19% with a 38% fall by the IT sector the starkest of stats, while Consumer Discretionary (-23%) and Real-Estate (-16%) also fell sharply i.e. the sectors most influenced by interest rates. On the flip side, a lot of joy came from Energy (+29%) and Utilities (+24%), while the Industrials (+0.76%), Staples (-2%), Materials (-9%) & Telcos (-9%) all outperformed the broader market to varying degrees. As we suggested...
The ASX gave back yesterday’s gains today with Real-Estate and IT feeling the pinch, although the influential banks finished higher while pockets of the resources sector also held up well. The worst of the day’s price action was seen at midday before the index edged higher into the close – not a lot happening in US Futures on either side of the ledger.
Back-to-back strength for the Australian market with the ASX now up 350pts / 5.5% from the recent low ~6400. Energy the standout today as Oil rallied, reports of a price cap for Russian exports the catalyst while the headline in the AFR this afternoon that suggest investors are fleeing the share market for the ‘safety’ of property seems another bullish short-term indicator for equity markets!
A solid start to the week with the ASX putting on nearly 2% led by the financial sector, although it was green right across the screen with all sectors finishing up on the day. Nice to see buying early that was supported throughout the day with the market closing near session highs – some confidence returning, at least in the short term!
It was certainly a ‘risk on’ session today with the Small Ordinaries (+3.20%) creaming the large caps (+0.77%) while drilling down into the relative sector performances also highlighted that skew, Technology the standout while other interest rate-sensitive sectors like real-estate did well. A good way to end a reasonable week for the market, while at Market Matters we also went live with a new version of our website, which brings in market data, advanced charting, company financials and broker forecasts, into what we think is a very user-friendly platform.
A fairly muted session today on the ASX with the defensive sectors doing well while those exposed to economic weakness struggled. Energy is at the pointy end of that, a crowded trade that is unwinding however if we see another ~10% downside we’ll likely step back into the sector.
An average day for the ASX with the market giving up an early advance after a solid session in the US overnight, US Futures turning lower during our time zone and weakness throughout Asia didn’t help.
The ASX bounced today with some optimism returning to the screens, particularly the index influences with both banks & the resource /energy stocks finding some form while the defensive areas saw profit-taking.
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