The ASX bounced back today following a 2% sell-off yesterday with the IT & Energy stocks leading the charge as we trickle towards the end of a hectic reporting period.
A sea of red for a Monday with the ASX pulling back ~2% following a more hawkish Federal Reserve on Friday night. While indications point to peak inflation having passed, the rhetoric from the Jerome Powell strongly implies that we’re not yet peak rates which is obviously a negative for equities, however when we stand back and look at bond yields which edged higher but not by a lot, the volatility index which settled around 25 (which is low), we’re not...
A strong end to what turned out to be a flat week for stocks, although a very busy one from a reporting standpoint. Energy the standout up 6% while the Staples sector fell by the same degree, around 10% of the ASX 200 moved by 10% or more showing the influence of results, the best of them coming from one of our holdings in Altium (ALU) while City Chic (CCX) took the gong on the other side, losing a quarter of its value.
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 sea of red for a Monday with the ASX pulling back ~2% following a more hawkish Federal Reserve on Friday night. While indications point to peak inflation having passed, the rhetoric from the Jerome Powell strongly implies that we’re not yet peak rates which is obviously a negative for equities, however when we stand back and look at bond yields which edged higher but not by a lot, the volatility index which settled around 25 (which is low), we’re not...
A strong end to what turned out to be a flat week for stocks, although a very busy one from a reporting standpoint. Energy the standout up 6% while the Staples sector fell by the same degree, around 10% of the ASX 200 moved by 10% or more showing the influence of results, the best of them coming from one of our holdings in Altium (ALU) while City Chic (CCX) took the gong on the other side, losing a quarter of its value.
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.
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