Fed Chair Jerome Powell used his much-anticipated speech from Jackson Hole on Friday to signal that the US central bank is on track for an interest-rate cut in September, after holding its benchmark steady in the first eight months of the year. The market reaction was instantaneous, with Powell unleashing the biggest cross-market surge since April by striking a surprisingly dovish tone during his speech. The S&P 500 Index rebounded from a five-day slide, rising +1.5%; meanwhile, the rate/economically-sensitive Russell 2000 small-cap index surged almost 4%.
The ASX 200 surged over 100 points on Thursday to close above the 9000 level for the first time, who would have thought back in April? All 11 major sectors closed higher as the bulls got the bit between their teeth, and sellers were very stock-specific.
The ASX200 closed up +0.25% on Wednesday, which was impressive considering James Hardie (JHX) was thumped ~28%, and CSL extended Tuesday's decline by another 2.1%.
The ASX200 fell 0.7% on Tuesday, with healthcare behemoth CSL inflicting all of the damage to the index; more stocks finished the session up on the day! However, when the market's third-largest company by market capitalisation at the start of the day tumbled almost 17% to end the day as the fifth-largest, it inevitably had a meaningful impact on the underlying index. To paint a clear picture, the ASX200 closed down 63 points, with CSL contributing 65 points on the negative side of the ledger - more on CSL later.
The ASX200 closed up +0.2% on Monday, cautiously nudging closer to the psychological 9000 level. With over 80% of the ASX200 still to report, there’s likely to be plenty of action on the stock level over the coming weeks.
We are now seven weeks into FY26, and global markets are trading at or near all-time highs. The ASX 200, including dividends, is up 4.7%, supported by a 13.7% rally in Resources and gains of more than 8% from Healthcare, Utilities, and Energy.
Two of the most widely held stocks in Australia, Commonwealth Bank (CBA) and Telstra (TLS), both confirmed this week that crowded/momentum trades can be problematic. Meeting earnings expectations when the market is positioned for an upside surprise is simply not good enough.
The ASX200 suffered at the hands of the banks, particularly CBA, on Wednesday, ending the session down 0.6%; as we often say, the market can't go up without the banks, and in this case, especially CBA, when it tumbles 5.4%.
The ASX200 rallied another +0.4% on Tuesday, embracing the 0.25% RBA rate cut and accompanying dovish commentary. Credit markets are pricing in another 2-3 cuts over the coming 12-months; we think they're being too cautious.
The ASX200 closed up +0.4% on Monday, driven to new highs by a resources sector enjoying a new lease of life; it's already surged +6.7% so far in August. The lithium stocks led the charge following the news that CATL shut down one of the world's largest mines, but on the index level, it was BHP that added the most points, around 30% of the day's 38-point gain. Outside of the gold stocks, the Materials Sector was hot, from lithium to copper, and iron ore.
The ASX 200 surged over 100 points on Thursday to close above the 9000 level for the first time, who would have thought back in April? All 11 major sectors closed higher as the bulls got the bit between their teeth, and sellers were very stock-specific.
The ASX200 closed up +0.25% on Wednesday, which was impressive considering James Hardie (JHX) was thumped ~28%, and CSL extended Tuesday's decline by another 2.1%.
The ASX200 fell 0.7% on Tuesday, with healthcare behemoth CSL inflicting all of the damage to the index; more stocks finished the session up on the day! However, when the market's third-largest company by market capitalisation at the start of the day tumbled almost 17% to end the day as the fifth-largest, it inevitably had a meaningful impact on the underlying index. To paint a clear picture, the ASX200 closed down 63 points, with CSL contributing 65 points on the negative side of the ledger - more on CSL later.
The ASX200 closed up +0.2% on Monday, cautiously nudging closer to the psychological 9000 level. With over 80% of the ASX200 still to report, there’s likely to be plenty of action on the stock level over the coming weeks.
We are now seven weeks into FY26, and global markets are trading at or near all-time highs. The ASX 200, including dividends, is up 4.7%, supported by a 13.7% rally in Resources and gains of more than 8% from Healthcare, Utilities, and Energy.
Two of the most widely held stocks in Australia, Commonwealth Bank (CBA) and Telstra (TLS), both confirmed this week that crowded/momentum trades can be problematic. Meeting earnings expectations when the market is positioned for an upside surprise is simply not good enough.
The ASX200 suffered at the hands of the banks, particularly CBA, on Wednesday, ending the session down 0.6%; as we often say, the market can't go up without the banks, and in this case, especially CBA, when it tumbles 5.4%.
The ASX200 rallied another +0.4% on Tuesday, embracing the 0.25% RBA rate cut and accompanying dovish commentary. Credit markets are pricing in another 2-3 cuts over the coming 12-months; we think they're being too cautious.
The ASX200 closed up +0.4% on Monday, driven to new highs by a resources sector enjoying a new lease of life; it's already surged +6.7% so far in August. The lithium stocks led the charge following the news that CATL shut down one of the world's largest mines, but on the index level, it was BHP that added the most points, around 30% of the day's 38-point gain. Outside of the gold stocks, the Materials Sector was hot, from lithium to copper, and iron ore.
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