From an investment perspective we’re living through fascinating times although I’m sure everybody would prefer the huge elephant in the room, COVID and its variants, would vanish as fast as it arrived. The Spanish flu which infected around one third of the world’s population only lasted around 2-years before history suggests the virus mutated itself down a path of weaker and weaker strains plus we saw a degree of heard immunity. Potentially the combination of vaccines and lockdown could result in us stretching out the COVID...
Thursday saw much of the ASX200 embrace the overnight statement from the Fed but when CSL Ltd (CSL), the markets 3rd largest stock, plunges over 8% its always going to be a tough day at the office for the Australian market. However we still expected a little more from the local bourse but as MM touched on yesterday when investors are asked to stump up for $6.3bn in just 24-hours some inevitable selling will roll through other pockets of the market - yesterday it clearly wasn’t limited to healthcare names. The market would have managed a positive close if it hadn’t been for CSL and interestingly most other stocks in the sector closed up, it felt to us that any...
The ASX200 was clobbered 0.7% yesterday as it was unable to withstand the “Fed Jitters” – nobody’s questioning whether interest rates are headed higher both in Australia and the US but markets have become fixated with the potential speed of such hikes which will challenge many high valuation stocks and sectors. Hence it was no surprise that the IT Sector was worst on ground yesterday falling 2.6% in a session when only the Utilities stocks managed to advance. The logic is simple to comprehend...
Yesterday saw the Australian market recover strongly from a 0.5% dip early in the session but the stocks again lacked the strength to forge ahead into positive territory, the market ultimately closed down less than 1-point – as we’ve said before “The song remains the same” with investors happy to buy dips but sellers emerging into strength as the ASX200 continues to rotate around the 7400 area which it first reached back in mid-June, now around 6-months ago.
The ASX200 rallied 0.35% on Monday which was a reasonable effort considering the Banking Sector closed in the red although heavyweight CBA did manage to finish marginally higher. At both midday and 4pm I felt the market was off and running for its annual Christmas Rally but alas aggressive selling in the futures market after 4pm led to a very poor match which saw local stocks lose almost half of the day’s gains in one fell swoop, looking at US stocks overnight it looks like somebody,,,
Omicron undoubtedly hasn’t gone away but equities have moved their focus elsewhere, at least for now. The headlines for the variant have remained mixed however international and state governments are forging ahead with their reopening plans with renewed vigour e.g. Queensland’s borders finally opened to NSW and Victoria this morning while Dan Andrews is actually opening the Garden State to visitors from South Africa without the need for quarantine!
The ASX200 took a breather on Thursday after an explosive few days, the market ultimately closed down 0.3% after some late selling in the SPI futures dragged the index into the red but overall it felt like a nothing day with only 54% of stocks closing down. We saw some mixed news towards the Omicron variant but it really felt like investors simply just took a rest after advancing all week:
The ASX200 roared higher on Wednesday, “hump day” to many but traders often refer to it as “drive day” as the market finally decides where it’s headed, this time the market enjoyed broad based buying with over 80% of stocks closing in positive territory, the index scaled fresh 3-week highs as Omicron fears seemed to vanish almost as fast as they arrived. The 1.25% gain took the local market within 3% of its all-time high only a few weeks after the doom and gloom merchants were focusing on either bond yields or Omicron. I feel...
Tuesday saw the ASX200 rally strongly finally closing up just shy of 1% on broad based buying with strong gains enjoyed by most pockets of the market, however the standout performances largely came from stocks who were whacked in previous sessions around Omicron fears, as we’ve said over recent days the new variant emanating from South Africa doesn’t appear to be an economic or health game changer, the RBA concurs with our feeling here believing the Omicron variant is a source of uncertainty but no major risk to our economy. Overall the Australian central...
The ASX200 fought hard yesterday to close marginally higher in the face of some aggressive selling across the tech space, it felt like many investors / traders who were long high valuation growth names decided to take a hint from Bitcoins 25% plunge over the weekend i.e. if in doubt get out! The were a number of prominent losers in these high Beta names including Zip (Z1P) -10.1%, HUB24 (HUB) -4.4%, Allkem (AKE) -7.2% (which is the old Orecobre), Kogan.com (KGN) -6.6%, Appen (APX) -5.4% and Afterpay...
Thursday saw much of the ASX200 embrace the overnight statement from the Fed but when CSL Ltd (CSL), the markets 3rd largest stock, plunges over 8% its always going to be a tough day at the office for the Australian market. However we still expected a little more from the local bourse but as MM touched on yesterday when investors are asked to stump up for $6.3bn in just 24-hours some inevitable selling will roll through other pockets of the market - yesterday it clearly wasn’t limited to healthcare names. The market would have managed a positive close if it hadn’t been for CSL and interestingly most other stocks in the sector closed up, it felt to us that any...
The ASX200 was clobbered 0.7% yesterday as it was unable to withstand the “Fed Jitters” – nobody’s questioning whether interest rates are headed higher both in Australia and the US but markets have become fixated with the potential speed of such hikes which will challenge many high valuation stocks and sectors. Hence it was no surprise that the IT Sector was worst on ground yesterday falling 2.6% in a session when only the Utilities stocks managed to advance. The logic is simple to comprehend...
Yesterday saw the Australian market recover strongly from a 0.5% dip early in the session but the stocks again lacked the strength to forge ahead into positive territory, the market ultimately closed down less than 1-point – as we’ve said before “The song remains the same” with investors happy to buy dips but sellers emerging into strength as the ASX200 continues to rotate around the 7400 area which it first reached back in mid-June, now around 6-months ago.
The ASX200 rallied 0.35% on Monday which was a reasonable effort considering the Banking Sector closed in the red although heavyweight CBA did manage to finish marginally higher. At both midday and 4pm I felt the market was off and running for its annual Christmas Rally but alas aggressive selling in the futures market after 4pm led to a very poor match which saw local stocks lose almost half of the day’s gains in one fell swoop, looking at US stocks overnight it looks like somebody,,,
Omicron undoubtedly hasn’t gone away but equities have moved their focus elsewhere, at least for now. The headlines for the variant have remained mixed however international and state governments are forging ahead with their reopening plans with renewed vigour e.g. Queensland’s borders finally opened to NSW and Victoria this morning while Dan Andrews is actually opening the Garden State to visitors from South Africa without the need for quarantine!
The ASX200 took a breather on Thursday after an explosive few days, the market ultimately closed down 0.3% after some late selling in the SPI futures dragged the index into the red but overall it felt like a nothing day with only 54% of stocks closing down. We saw some mixed news towards the Omicron variant but it really felt like investors simply just took a rest after advancing all week:
The ASX200 roared higher on Wednesday, “hump day” to many but traders often refer to it as “drive day” as the market finally decides where it’s headed, this time the market enjoyed broad based buying with over 80% of stocks closing in positive territory, the index scaled fresh 3-week highs as Omicron fears seemed to vanish almost as fast as they arrived. The 1.25% gain took the local market within 3% of its all-time high only a few weeks after the doom and gloom merchants were focusing on either bond yields or Omicron. I feel...
Tuesday saw the ASX200 rally strongly finally closing up just shy of 1% on broad based buying with strong gains enjoyed by most pockets of the market, however the standout performances largely came from stocks who were whacked in previous sessions around Omicron fears, as we’ve said over recent days the new variant emanating from South Africa doesn’t appear to be an economic or health game changer, the RBA concurs with our feeling here believing the Omicron variant is a source of uncertainty but no major risk to our economy. Overall the Australian central...
The ASX200 fought hard yesterday to close marginally higher in the face of some aggressive selling across the tech space, it felt like many investors / traders who were long high valuation growth names decided to take a hint from Bitcoins 25% plunge over the weekend i.e. if in doubt get out! The were a number of prominent losers in these high Beta names including Zip (Z1P) -10.1%, HUB24 (HUB) -4.4%, Allkem (AKE) -7.2% (which is the old Orecobre), Kogan.com (KGN) -6.6%, Appen (APX) -5.4% and Afterpay...
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