The ASX 200 experienced another quiet session on Thursday as the market followed the choppy consolidation, with an upside bias, that we expected at the start of the month.
The ASX200 struggled to make any meaningful headway on Wednesday, even after the Dow closed up over 500 points and we received a particularly market-friendly inflation print.
The ASX200 surged almost 1% on Tuesday, taking the index back within 1% of its all-time high. Optimism that the worst of the Middle East conflict is already behind us drove the market higher on broad-based buying, which came with a definite “risk on” twist.
The ASX200 was trading down almost 1% at midday on Monday before buyers returned, trimming over half of the morning's losses. The song remains the same, with buyers of weakness emerging, and again, banks led the way, e.g. Commonwealth Bank (CBA) +1%, and Westpac (WBC) +0.6%. Considering the geopolitical backdrop, Monday's 0.4% pullback was a stoic performance, which, in our opinion, illustrates that many investors, across the whole spectrum, have been caught underweight in stocks following the market's aggressive post “Liberation Day” V-shaped recovery.
Trump said he would take up to two weeks to decide on the US’s involvement in the Israel-Iran conflict, but it ended up being closer to two days after American bombers struck Iran’s three main nuclear sites.
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 ASX200 struggled to make any meaningful headway on Wednesday, even after the Dow closed up over 500 points and we received a particularly market-friendly inflation print.
The ASX200 surged almost 1% on Tuesday, taking the index back within 1% of its all-time high. Optimism that the worst of the Middle East conflict is already behind us drove the market higher on broad-based buying, which came with a definite “risk on” twist.
The ASX200 was trading down almost 1% at midday on Monday before buyers returned, trimming over half of the morning's losses. The song remains the same, with buyers of weakness emerging, and again, banks led the way, e.g. Commonwealth Bank (CBA) +1%, and Westpac (WBC) +0.6%. Considering the geopolitical backdrop, Monday's 0.4% pullback was a stoic performance, which, in our opinion, illustrates that many investors, across the whole spectrum, have been caught underweight in stocks following the market's aggressive post “Liberation Day” V-shaped recovery.
Trump said he would take up to two weeks to decide on the US’s involvement in the Israel-Iran conflict, but it ended up being closer to two days after American bombers struck Iran’s three main nuclear sites.
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.
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