The usual Christmas lull has now taken hold of markets and while the ASX edged higher today following a positive night in the US, volumes were light and conviction was low. The Utilities sector +0.70% was best on ground today supported by the Industrial stocks which edged 0.63% higher, on the flipside, the IT stocks gave back some of yesterday’s gains down by -0.92% while the supermarkets also fell.
A choppy but marginally positive session for the ASX today as volumes peter out ahead of the Christmas break - actually having a full week of trade before Christmas doesn’t happen very often and it seems like some in the market have taken off early - if all the red dots on my Bloomberg are anything to go by. Today the IT stocks did best with another takeover approach for Link (LNK) while a bounce back in Afterpay (APT) also helped. APT has...
After a flat open the ASX found it’s mojo by mid-morning and while US Futures + Asian markets were positive today, it seemed more a case of the local market leading rather than following. Yesterday the ASX was resilient which is a sign of strength + we had US stocks down ~1.2% overnight while we rallied +0.85% today which shows some backbone coming into local stocks. A number of the recent downtrodden names...
A tough session for pockets of the ASX however overall it was a fairly resilient day with a bounce back in the Healthcare & Consumer Staples stocks (i.e. the defensives) while components of the material sector also did well, namely Gold & Iron Ore as the Energy stocks provided the biggest drag, down over 3%.
A very strong first half of the session today with the market storming to a 7350 high at 2pm before sellers took hold and we drifted lower (-50pts) into the close – clearly not a lot of conviction to hold stocks into the weekend. The heavy weight Materials were strong today, up 1.20%supported by Energy while the major drag on the other side of the ledger was IT, down nearly 4%
A weak session today however it was only driven by selling in one stock – the rest of the market finished marginally higher when stripping out the impact from CSL. Naturally healthcare was the weakest of the sectors. Tech caught a bid today, finishing more than 2% higher.
A pretty soft session for the local market which followed the US lead. The tech heavy Nasdaq was weak overnight and the showed up in tech stocks on the ASX today which felt the worst of the selling. Real Estate and telcos were also notably weak. The focus was on US inflation pressures following their PPI data overnight, though the news wasn’t showing up in bond markets, equity markets did feel the pinch. The Producer Price Index...
A solid session by the end of the day after a weak open saw the market down -37pts at its worst before a spirited fightback led to an unchanged session, you’d almost call it a bullish day given that consumer staples fell by nearly 4% on a weak update from Woolworths and a negative broker report on Coles.
A choppy but positive start to the week for the Australian market with strength in the material, energy & property sectors partially offset by weakness amongst financials & healthcare. The best of the session was seen before lunchtime with the market up +60pts at its peak, before a late sell-off created a fairly disappointing / lacklustre finish to trade.
A softer day to end the week, though selling was pretty subdued from an index point of view. A weak lead from US markets weighed on stocks, particularly the tech sector which was in the firing line both here and overseas. Healthcare & energy were also notably weak while the utilities sector was carried by strength in two of the heavyweights of the sector. There was little in the way of news flow to drive markets, weakness largely blamed...
A choppy but marginally positive session for the ASX today as volumes peter out ahead of the Christmas break - actually having a full week of trade before Christmas doesn’t happen very often and it seems like some in the market have taken off early - if all the red dots on my Bloomberg are anything to go by. Today the IT stocks did best with another takeover approach for Link (LNK) while a bounce back in Afterpay (APT) also helped. APT has...
After a flat open the ASX found it’s mojo by mid-morning and while US Futures + Asian markets were positive today, it seemed more a case of the local market leading rather than following. Yesterday the ASX was resilient which is a sign of strength + we had US stocks down ~1.2% overnight while we rallied +0.85% today which shows some backbone coming into local stocks. A number of the recent downtrodden names...
A tough session for pockets of the ASX however overall it was a fairly resilient day with a bounce back in the Healthcare & Consumer Staples stocks (i.e. the defensives) while components of the material sector also did well, namely Gold & Iron Ore as the Energy stocks provided the biggest drag, down over 3%.
A very strong first half of the session today with the market storming to a 7350 high at 2pm before sellers took hold and we drifted lower (-50pts) into the close – clearly not a lot of conviction to hold stocks into the weekend. The heavy weight Materials were strong today, up 1.20%supported by Energy while the major drag on the other side of the ledger was IT, down nearly 4%
A weak session today however it was only driven by selling in one stock – the rest of the market finished marginally higher when stripping out the impact from CSL. Naturally healthcare was the weakest of the sectors. Tech caught a bid today, finishing more than 2% higher.
A pretty soft session for the local market which followed the US lead. The tech heavy Nasdaq was weak overnight and the showed up in tech stocks on the ASX today which felt the worst of the selling. Real Estate and telcos were also notably weak. The focus was on US inflation pressures following their PPI data overnight, though the news wasn’t showing up in bond markets, equity markets did feel the pinch. The Producer Price Index...
A solid session by the end of the day after a weak open saw the market down -37pts at its worst before a spirited fightback led to an unchanged session, you’d almost call it a bullish day given that consumer staples fell by nearly 4% on a weak update from Woolworths and a negative broker report on Coles.
A choppy but positive start to the week for the Australian market with strength in the material, energy & property sectors partially offset by weakness amongst financials & healthcare. The best of the session was seen before lunchtime with the market up +60pts at its peak, before a late sell-off created a fairly disappointing / lacklustre finish to trade.
A softer day to end the week, though selling was pretty subdued from an index point of view. A weak lead from US markets weighed on stocks, particularly the tech sector which was in the firing line both here and overseas. Healthcare & energy were also notably weak while the utilities sector was carried by strength in two of the heavyweights of the sector. There was little in the way of news flow to drive markets, weakness largely blamed...
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