The ASX200 is set to test new highs early this week after US equities hit new milestones on Friday, even though it was only a half-day following Thanksgiving holiday. The path of least resistance remains on the upside, even on quiet days.
The ASX200 closed up +0.45% on Thursday, but again, after nudging a fresh all-time high, it drifted lower into the close, this time surrendering almost half of its late afternoon gains. The advance was patchy, with over 40% of the main board closing lower, but when the “Big Four Banks,” BHP, and CSL all rally, it's going to be a tough session for the bears.
The ASX200 rebounded +0.6% on Wednesday, retracing more than 50% of Tuesday's sell-off following Trump’s tariff threats, although we believe he simply reiterated his campaigning rhetoric. Gains were broad-based in the session, with all 11 sectors finishing higher and over 65% of the main board rose.
At 10:30 a.m. on Tuesday, Donald Trump reminded us that the next few months, potentially years, will likely deliver plenty of volatility and opportunity. Just 24 hours beforehand, markets had welcomed Scott Bessent’s selection as the next U.S. Treasury Secretary with open arms in the hope of a more gradual layering of economic tariffs.
The ASX200 closed up +0.3% on Monday, but it was a somewhat lacklustre session, with the index surrendering ~65% of its early morning gains. With 40% of the main board closing lower along with 3 of the Big 4 Banks, it was always going to be tough for the local index to make meaningful headway, although it did register another all-time high early in the morning.
The banks and resources hugely influence the ASX200, with the latter in the doldrums through most of 2024. Trump's emphatic victory earlier this month exacerbated this underperformance. This morning, we’ve reconsidered what comes next as Beijing fails to deliver the bazooka-style stimulus many anticipated.
The ASX200 surrendered early gains on Thursday to finish the session down just 3 points, holding above 8320 technical support. How the US would react to Nvidia’s (NVDA US) result, delivered yesterday morning our time, was a hot topic of conversation that kept many players on the sidelines as the early reaction was muted, the stock initially dipping 5% in after-market trade.
The ASX200 drifted lower throughout Wednesday to finish a disappointing session down -0.57%, with over 80% of the main board closing lower. It was a “risk-off” day for the local bourse, with concerns around Trump's looming tariffs and the Ukraine-Russia War weighing on sentiment.
The ASX200 was soaring towards 8450 around 3pm yesterday afternoon before an aggressive sell order swept through the market, leaving it up 74-points/0.9%; it still sounds like a great day, but in the last hour on Tuesday, over half of the day's gains had been wiped out.
The ASX200 recovered from early losses on Monday morning to close up +0.25%, an encouraging performance after a weak session in the US on Friday night.
The ASX200 closed up +0.45% on Thursday, but again, after nudging a fresh all-time high, it drifted lower into the close, this time surrendering almost half of its late afternoon gains. The advance was patchy, with over 40% of the main board closing lower, but when the “Big Four Banks,” BHP, and CSL all rally, it's going to be a tough session for the bears.
The ASX200 rebounded +0.6% on Wednesday, retracing more than 50% of Tuesday's sell-off following Trump’s tariff threats, although we believe he simply reiterated his campaigning rhetoric. Gains were broad-based in the session, with all 11 sectors finishing higher and over 65% of the main board rose.
At 10:30 a.m. on Tuesday, Donald Trump reminded us that the next few months, potentially years, will likely deliver plenty of volatility and opportunity. Just 24 hours beforehand, markets had welcomed Scott Bessent’s selection as the next U.S. Treasury Secretary with open arms in the hope of a more gradual layering of economic tariffs.
The ASX200 closed up +0.3% on Monday, but it was a somewhat lacklustre session, with the index surrendering ~65% of its early morning gains. With 40% of the main board closing lower along with 3 of the Big 4 Banks, it was always going to be tough for the local index to make meaningful headway, although it did register another all-time high early in the morning.
The banks and resources hugely influence the ASX200, with the latter in the doldrums through most of 2024. Trump's emphatic victory earlier this month exacerbated this underperformance. This morning, we’ve reconsidered what comes next as Beijing fails to deliver the bazooka-style stimulus many anticipated.
The ASX200 surrendered early gains on Thursday to finish the session down just 3 points, holding above 8320 technical support. How the US would react to Nvidia’s (NVDA US) result, delivered yesterday morning our time, was a hot topic of conversation that kept many players on the sidelines as the early reaction was muted, the stock initially dipping 5% in after-market trade.
The ASX200 drifted lower throughout Wednesday to finish a disappointing session down -0.57%, with over 80% of the main board closing lower. It was a “risk-off” day for the local bourse, with concerns around Trump's looming tariffs and the Ukraine-Russia War weighing on sentiment.
The ASX200 was soaring towards 8450 around 3pm yesterday afternoon before an aggressive sell order swept through the market, leaving it up 74-points/0.9%; it still sounds like a great day, but in the last hour on Tuesday, over half of the day's gains had been wiped out.
The ASX200 recovered from early losses on Monday morning to close up +0.25%, an encouraging performance after a weak session in the US on Friday night.
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