Most pundits are blaming Trump 2.0 and the accompanying uncertainty that tariffs entail for the reason that many global indices have corrected from their recent highs; for example, the ASX 200 has fallen 10.2%, and the US S&P 500 has fallen 10.5%.
The ASX 200 enjoyed its best day in six weeks, surging 1.2% on Thursday, clearing 7,900 on broad-based buying, which saw over 80% of the main board close higher. Positive economic news from both the US and domestic markets, particularly regarding interest rates, spurred the rally in equities.
The ASX 200 retreated 0.4% on Wednesday due to broad-based selling, with over 75% of the main board closing lower. The rate-sensitive utilities and real estate sectors underperformed, both falling by more than 1.3%, while the healthcare sector's 0.5% gain was the main glimmer of hope for the bulls.
Tuesday saw local shares pare early gains to finish only slightly higher as US futures slipped away on escalating conflict in the Middle East. The ASX200 closed up just 6 points, surrendering almost 90% of its early morning gain, although over 60% of the main board managed to advance.
The ASX200 enjoyed its best day in two weeks on Monday, rallying +0.8%. Gains were driven by a strong performance from the miners and a solid supporting role by the banks; the combination of BHP, CBA, and ANZ contributed over 50% of the main boards' advance.
We all know that stocks have endured a tough few weeks as fears of an escalating Global Trade War and subsequent recession washed through risk assets. However, most pundits are blaming the new President, but we should remember a couple of related factors. With the S&P 500 trading at 27x reported earnings in January, Trump inherited one of the highest-priced stock markets in history.
The ASX200 struggled again on Thursday, reversing early gains to close down 0.5%. The local market received a one-two on Thursday, the US futures reversed lower, and Morgan Stanley downgraded its rating of Australian equities to underweight, highlighting concerns over Australia's exposure to trade war risks and elevated valuations – we feel like they are late to the party!
The ASX200 plunged another 1.3% on Wednesday, making it official that the tariff pullback is now a correction. The market has fallen more than 10% from its Valentine's Day high - excuse the analogy, but it does feel like a “Valentine's Day Massacre,” which coincidentally unfolded in Chicago in 1929, the year of one of the most significant stock market collapses in history.
The ASX200 closed down 0.9% on Monday, posting a seven-month low in the process, though it managed to bounce ~1% from its intraday lunchtime low. The index had extended the past month’s pullback to 9.3% - just shy of an official correction (10%).
The ASX200 limped higher on Monday with little conviction as US S&P500 futures and Asian equities peeled away after some unconvincing comments from President Trump in an interview that aired Sunday US time.
The ASX 200 enjoyed its best day in six weeks, surging 1.2% on Thursday, clearing 7,900 on broad-based buying, which saw over 80% of the main board close higher. Positive economic news from both the US and domestic markets, particularly regarding interest rates, spurred the rally in equities.
The ASX 200 retreated 0.4% on Wednesday due to broad-based selling, with over 75% of the main board closing lower. The rate-sensitive utilities and real estate sectors underperformed, both falling by more than 1.3%, while the healthcare sector's 0.5% gain was the main glimmer of hope for the bulls.
Tuesday saw local shares pare early gains to finish only slightly higher as US futures slipped away on escalating conflict in the Middle East. The ASX200 closed up just 6 points, surrendering almost 90% of its early morning gain, although over 60% of the main board managed to advance.
The ASX200 enjoyed its best day in two weeks on Monday, rallying +0.8%. Gains were driven by a strong performance from the miners and a solid supporting role by the banks; the combination of BHP, CBA, and ANZ contributed over 50% of the main boards' advance.
We all know that stocks have endured a tough few weeks as fears of an escalating Global Trade War and subsequent recession washed through risk assets. However, most pundits are blaming the new President, but we should remember a couple of related factors. With the S&P 500 trading at 27x reported earnings in January, Trump inherited one of the highest-priced stock markets in history.
The ASX200 struggled again on Thursday, reversing early gains to close down 0.5%. The local market received a one-two on Thursday, the US futures reversed lower, and Morgan Stanley downgraded its rating of Australian equities to underweight, highlighting concerns over Australia's exposure to trade war risks and elevated valuations – we feel like they are late to the party!
The ASX200 plunged another 1.3% on Wednesday, making it official that the tariff pullback is now a correction. The market has fallen more than 10% from its Valentine's Day high - excuse the analogy, but it does feel like a “Valentine's Day Massacre,” which coincidentally unfolded in Chicago in 1929, the year of one of the most significant stock market collapses in history.
The ASX200 closed down 0.9% on Monday, posting a seven-month low in the process, though it managed to bounce ~1% from its intraday lunchtime low. The index had extended the past month’s pullback to 9.3% - just shy of an official correction (10%).
The ASX200 limped higher on Monday with little conviction as US S&P500 futures and Asian equities peeled away after some unconvincing comments from President Trump in an interview that aired Sunday US time.
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