The ASX 200 slipped another 0.1% on Thursday, with the song remaining the same on the stock & sector level. CBA scaled new highs, trading through $183, while weakness in the large-cap iron ore miners was enough to ensure the index closed mildly lower.
Wednesday saw the ASX200 close down 0.1% after rotating in another tight 0.4% range as the market remains in its “Middle East Conflict” holding pattern. The losers slightly beat the winners, with only two stocks moving by over 5%, illustrating the lacklustre nature of the day. At the sector level, weakness in the resources sector more than offset gains in tech, which we will examine later today
The ASX200 slipped 0.1% on Tuesday as uncertainty around the Middle East increased following some confusing and contradictory comments from President Trump et al, leading to a ~0.6% slide by the US S&P 500 futures, surrendering most of Monday's advance in the process.
The ASX200 surprised many on Monday, managing to eke out a small gain even after the Dow tumbled over 760 points on Friday night, although it helped that US futures bounced ~0.5% during our trading session. It certainly hasn’t taken long for the Middle East conflict to join other recent geopolitical & macroeconomic events in being ignored by stocks, as fears of missing out on further strength remain a greater concern to many fund managers.
In the past, last week's outbreak of hostilities between Israel and Iran was the kind of geopolitical flashpoint that might have triggered a full-blown market meltdown. Yet, so far, in a year where crises have come in waves, primarily courtesy of Trump 2.0, traders from London to New York have opted to hold their breath rather than flee en masse.
The ASX 200 surrendered early gains as “Trump tariff talk” weighed on the already “stretched” market. Ever since he's heard the “TACO” phrase, the president has been talking a lot tougher. Only time will tell if the acronym is true or not, i.e. “Trump Always Chickens Out”.
Wednesday saw the ASX 200 post a fresh all-time high at 8639 before reversing most of the early morning gains to close back below the psychological 8600 barrier.
The ASX200 posted a record close on Tuesday as broad-based buying took the index up 0.8%, with the heavyweight financials leading the market higher; the “Big Four” gained an average of 1.2%. The market adopted a clear “risk on” theme as it approached all-time highs, while abandoning some of the year's best-performing defensives, as underweight fund managers appeared increasingly exposed to the rising market.
Last week saw the US S&P 500 push to within 2.5% of its all-time high, enjoying the biggest jump since late May on Friday after a stronger-than-expected jobs report eased fears about a slowdown in the economy.
The ASX 200 closed marginally lower on Thursday, surrendering early gains in a fairly lacklustre session, which at one stage was only ~0.6% from its February all-time high. The healthcare sector was the weakest on the day, with heavyweight CSL contributing the most to the index decline, decreasing 1.3%. There was some rare reversion on the stock/sector level, with gold names struggling while lithium names popped higher, not the normal EOFY tax loss selling shenanigans you would expect as we commence June:
Wednesday saw the ASX200 close down 0.1% after rotating in another tight 0.4% range as the market remains in its “Middle East Conflict” holding pattern. The losers slightly beat the winners, with only two stocks moving by over 5%, illustrating the lacklustre nature of the day. At the sector level, weakness in the resources sector more than offset gains in tech, which we will examine later today
The ASX200 slipped 0.1% on Tuesday as uncertainty around the Middle East increased following some confusing and contradictory comments from President Trump et al, leading to a ~0.6% slide by the US S&P 500 futures, surrendering most of Monday's advance in the process.
The ASX200 surprised many on Monday, managing to eke out a small gain even after the Dow tumbled over 760 points on Friday night, although it helped that US futures bounced ~0.5% during our trading session. It certainly hasn’t taken long for the Middle East conflict to join other recent geopolitical & macroeconomic events in being ignored by stocks, as fears of missing out on further strength remain a greater concern to many fund managers.
In the past, last week's outbreak of hostilities between Israel and Iran was the kind of geopolitical flashpoint that might have triggered a full-blown market meltdown. Yet, so far, in a year where crises have come in waves, primarily courtesy of Trump 2.0, traders from London to New York have opted to hold their breath rather than flee en masse.
The ASX 200 surrendered early gains as “Trump tariff talk” weighed on the already “stretched” market. Ever since he's heard the “TACO” phrase, the president has been talking a lot tougher. Only time will tell if the acronym is true or not, i.e. “Trump Always Chickens Out”.
Wednesday saw the ASX 200 post a fresh all-time high at 8639 before reversing most of the early morning gains to close back below the psychological 8600 barrier.
The ASX200 posted a record close on Tuesday as broad-based buying took the index up 0.8%, with the heavyweight financials leading the market higher; the “Big Four” gained an average of 1.2%. The market adopted a clear “risk on” theme as it approached all-time highs, while abandoning some of the year's best-performing defensives, as underweight fund managers appeared increasingly exposed to the rising market.
Last week saw the US S&P 500 push to within 2.5% of its all-time high, enjoying the biggest jump since late May on Friday after a stronger-than-expected jobs report eased fears about a slowdown in the economy.
The ASX 200 closed marginally lower on Thursday, surrendering early gains in a fairly lacklustre session, which at one stage was only ~0.6% from its February all-time high. The healthcare sector was the weakest on the day, with heavyweight CSL contributing the most to the index decline, decreasing 1.3%. There was some rare reversion on the stock/sector level, with gold names struggling while lithium names popped higher, not the normal EOFY tax loss selling shenanigans you would expect as we commence June:
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