The ASX200 sprang back to life on Wednesday finally closing up 0.7% as the Energy Sector led almost 70% of the market higher, we’re almost half way through January and the main Australian index is down just 5-points year-to-date as the lack of direction over the last 6-months continues unabated. The tech names finally took some notice from the recovery by US names producing the days 2nd best performance with Appen (APX) and Life360 (360) both advancing well over 5%.
Tuesday saw the Australian market slip -0.8% on broad selling with 70% of the index closing in negative territory but come 4pm we remained around 7400, just as we did when MM delivered its previous Portfolio Positioning Report back on the 22nd December. After the NASDAQ’s excellent recovery on Monday night we thought the Australian Tech Sector would have regained some of their recent losses but it still struggled with most stocks reversing lower after a promising open, it feels like local investors will take more convincing to overcome inflation...
The ASX200 drifted marginally lower yesterday with the value names continuing to support the index while the broader index drifted lower under the weight of increasing concerns around rising bond yields and inflation. While the banks were firm the Resources Sector was the standout for MM with influential stocks like BHP Group (BHP), RIO Tinto (RIO) and South32 (S32) all advancing over 2% - MM expects more of the same over the coming weeks but if we are correct this year will not be a one trick pony.
It’s great to be back on deck and a special welcome to our new subscribers who came on board over Christmas. As refresher to new and old, our report schedule is as follows:
Yesterday saw the ASX200 illustrate yet again that COVID was “old news” with regards to financial markets as it rallied 0.3%, to its highest close in 2-weeks even as new case numbers spiralled – as most people know NSW and Victoria are tightening restrictions from Christmas Eve as the Omicron strain sets new records. The local markets remains stuck to the 7400 level, only 3.2% below its all-time high, dismissing the surging case numbers as no more than a short-term irritant.
The ASX200 closed higher yesterday in subdued trading and with only 2-days remaining until Christmas Day it’s hard to imagine anything new after stocks have traded sideways for 6-months – we may have received a plethora of economic and humanitarian news since May but equities simply haven’t moved. Wednesday only saw 56% of the ASX200 rally but with a 2.6% advance by the Tech Sector it was enough to offset an intra-day reversal in the iron ore names as the bulk commodity backed off from fresh...
Tuesday saw the Australian market continue to perform resolutely even in the face of adversity with COVID numbers starting to scare even the most optimistic amongst us especially with only 3-days until Christmas - I hope everyone’s finished their shopping! However, while holidays and our Christmas / New Year celebrations hang by a thread clearly its not all doom and gloom for the ASX when it can rally 0.86% the day after US equities fall by over 1%. The buying was broad based with a few things catching our attention:
The ASX200 fought valiantly on Monday to only slip 11-points considering Magellan (MFG) tumbled over 30% and US futures literally melted before our eyes on the combination of intensifying Omicron fears and diminishing confidence in Joe Bidens ability to drive US economic expansion. Interestingly while falls reverberated across major global equity markets Australia and New Zealand held firm with the later actually managing to rally 0.38%. Overall it was a confusing day where the more one tried to make rhyme or reason of the swings the more conflicting things became, the only consistent was...
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...
Tuesday saw the Australian market slip -0.8% on broad selling with 70% of the index closing in negative territory but come 4pm we remained around 7400, just as we did when MM delivered its previous Portfolio Positioning Report back on the 22nd December. After the NASDAQ’s excellent recovery on Monday night we thought the Australian Tech Sector would have regained some of their recent losses but it still struggled with most stocks reversing lower after a promising open, it feels like local investors will take more convincing to overcome inflation...
The ASX200 drifted marginally lower yesterday with the value names continuing to support the index while the broader index drifted lower under the weight of increasing concerns around rising bond yields and inflation. While the banks were firm the Resources Sector was the standout for MM with influential stocks like BHP Group (BHP), RIO Tinto (RIO) and South32 (S32) all advancing over 2% - MM expects more of the same over the coming weeks but if we are correct this year will not be a one trick pony.
It’s great to be back on deck and a special welcome to our new subscribers who came on board over Christmas. As refresher to new and old, our report schedule is as follows:
Yesterday saw the ASX200 illustrate yet again that COVID was “old news” with regards to financial markets as it rallied 0.3%, to its highest close in 2-weeks even as new case numbers spiralled – as most people know NSW and Victoria are tightening restrictions from Christmas Eve as the Omicron strain sets new records. The local markets remains stuck to the 7400 level, only 3.2% below its all-time high, dismissing the surging case numbers as no more than a short-term irritant.
The ASX200 closed higher yesterday in subdued trading and with only 2-days remaining until Christmas Day it’s hard to imagine anything new after stocks have traded sideways for 6-months – we may have received a plethora of economic and humanitarian news since May but equities simply haven’t moved. Wednesday only saw 56% of the ASX200 rally but with a 2.6% advance by the Tech Sector it was enough to offset an intra-day reversal in the iron ore names as the bulk commodity backed off from fresh...
Tuesday saw the Australian market continue to perform resolutely even in the face of adversity with COVID numbers starting to scare even the most optimistic amongst us especially with only 3-days until Christmas - I hope everyone’s finished their shopping! However, while holidays and our Christmas / New Year celebrations hang by a thread clearly its not all doom and gloom for the ASX when it can rally 0.86% the day after US equities fall by over 1%. The buying was broad based with a few things catching our attention:
The ASX200 fought valiantly on Monday to only slip 11-points considering Magellan (MFG) tumbled over 30% and US futures literally melted before our eyes on the combination of intensifying Omicron fears and diminishing confidence in Joe Bidens ability to drive US economic expansion. Interestingly while falls reverberated across major global equity markets Australia and New Zealand held firm with the later actually managing to rally 0.38%. Overall it was a confusing day where the more one tried to make rhyme or reason of the swings the more conflicting things became, the only consistent was...
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...
Check your email for an email from [email protected]
Subject: Your OTP for Account Access
This email will have a code you can use as your One Time Password for instant access
Verication email sent.
Check your email for an email from [email protected]
Subject: Your OTP for Account Access
This email will have a code you can use as your One Time Password for instant access
!
Invalid One Time Password
Please check you entered the correct info, please also note there is a 10minute time limit on the One Time Passcode
To reset your password, enter your email address
A link to create a new password will be sent to the email address you have registered to your account.
Market Matters members receive daily market reports, real-time trade alerts, full access to 5 portfolios and dynamic company data.
Choose how you'd like to proceed:
We have a range of membership options to suit your needs and budget, why not join today and get unlimited access to the premium Market Matters service.
