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Weekend report

Weekend Q&A: Copper is soaring, but the banks & iron ore miners are weighing on the ASX

The ASX endured a tough session on Friday, although the 1% recovery throughout the afternoon offered some hope for the bulls, with the “Big Four Banks” leading the bounce. For example, NAB and ANZ both reversed early steep losses of between 2.5% and 3% to end the session on their highs and in positive territory. However over the week, it was Macquarie’s downgrade of the banks and further weakness in iron ore names which weighed most on the index, which ended the tough 5-days down -2.25%.
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Weekend report

Weekend Q&A: The Bulls are charging like they’ve busted the gates in Pamplona!

The ASX surged to fresh all-time highs on Friday, taking the index up +1.3% for the week and 3.4% for the year, a solid performance considering some of the big names trading ex-dividend last week. The Financial and Real Estate Sectors led the index higher while the Energy and Materials names both slipped ~0.7%; as we’ve said a number of times in 2024, the relative performance song remains the same. On the stock level, the banks led the line with heavyweight CBA making fresh all-time highs assisted by the tailwind of the takeover bid for VUK, while real estate and gold also enjoyed strong weeks:
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Weekend report

Weekend Q&A: The Bulls are back in town, but it doesn’t feel like many are on board for the ride.

The ASX waved goodbye to reporting season at the end of last week and immediately focused on the new business at hand, making fresh all-time highs. Come Friday's close, the index had advanced +1.3% for the week, breaking clear of the psychological 7700 level in the process. The main movers on the stock level were related to the tail end of the reporting season, but there were noticeable strong moves from the ESG and tech stocks, which helped both the index and market sentiment.
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Weekend report

Weekend Q&A: Nvidia drives tech stocks ever higher

Last week, the ASX200 was again dominated by the reporting seasons in both Australia and the US; while the broad index edged down just 15-points with plenty of well-known stocks signing off the week with double-digit gains or losses, led by American AI goliath Nvidia (NVDA US) which ended the shortened week up ~10%. It was a relatively quiet week on the economic front, with bonds taking a breather while the Tech Sector rallied +3.3%, aided by the Nvidia euphoria. Conversely, the consumer Staples tumbled -3.4% after the shock weak update from Woolies and the departure of the CEO.
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Weekend report

The Weekend Q&A: Volatility increases as reporting season evolves.

The ASX200 ended a volatile week up just +14-points, or 0.2%, after impressively shrugging off some aggressive selling mid-week following strong US inflation data cast a shadow over when & how quickly the Fed will start cutting interest rates. Whether it is Australia, Japan or the US, the markets are still embracing signs of weak economic growth, with markets focused on when the cuts will be forthcoming.
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Weekend report

Local stocks edge lower as the S&P500 posts fresh all-time highs.

The ASX200 ended a choppy week slightly lower, snapping a two-week winning streak even after three consecutive days of gains from Wednesday. The -0.7% dip over the five days was primarily caused by weakness in the Resources Sector, plus some disappointment after the RBA retained its tightening bias on Tuesday.
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Weekend report

Weekend Q&A: Volatility on the increase as ASX hits new all-time highs!

The ASX200 tested 7700 for the first time in its history last week, with the index finally ending up +1.9%, just one point shy at 7699. However, it wasn’t all one-way traffic as the index rallied over 1% on two occasions while, falling by a similar degree on Thursday as volatility lifted even as stocks continued their overall surge higher.
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Weekend report

Weekend Q&A: Now its European stocks posting new all-time highs, can the ASX follow suit?

The ASX200 ended the shortened week up +1.8% and remains on track to post fresh all-time highs in the coming few weeks. Strength came from the most influential market sectors, including the banks/financials, energy, healthcare and resources names. On days when we saw profit-taking in the banks, where Commonwealth Bank (CBA) again posted all-time highs last week, the resources tended to surprise on the upside, i.e. any selling we did see appeared to be more rotational in nature as opposed to exiting the market.
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Weekend report

Q&A – Part 2

We had a significant number of questions come in over the break, and we couldn't include them all in the usual Weekend Q&A on Saturday. Here's a special Monday follow up report, with additional Q&A. 
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MM remains cautiously bullish toward the ASX200 around the 7700 level
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Weekend report

Weekend Q&A: The Bulls are charging like they’ve busted the gates in Pamplona!

The ASX surged to fresh all-time highs on Friday, taking the index up +1.3% for the week and 3.4% for the year, a solid performance considering some of the big names trading ex-dividend last week. The Financial and Real Estate Sectors led the index higher while the Energy and Materials names both slipped ~0.7%; as we’ve said a number of times in 2024, the relative performance song remains the same. On the stock level, the banks led the line with heavyweight CBA making fresh all-time highs assisted by the tailwind of the takeover bid for VUK, while real estate and gold also enjoyed strong weeks:

Weekend report

Weekend Q&A: The Bulls are back in town, but it doesn’t feel like many are on board for the ride.

The ASX waved goodbye to reporting season at the end of last week and immediately focused on the new business at hand, making fresh all-time highs. Come Friday's close, the index had advanced +1.3% for the week, breaking clear of the psychological 7700 level in the process. The main movers on the stock level were related to the tail end of the reporting season, but there were noticeable strong moves from the ESG and tech stocks, which helped both the index and market sentiment.

Weekend report

Weekend Q&A: Nvidia drives tech stocks ever higher

Last week, the ASX200 was again dominated by the reporting seasons in both Australia and the US; while the broad index edged down just 15-points with plenty of well-known stocks signing off the week with double-digit gains or losses, led by American AI goliath Nvidia (NVDA US) which ended the shortened week up ~10%. It was a relatively quiet week on the economic front, with bonds taking a breather while the Tech Sector rallied +3.3%, aided by the Nvidia euphoria. Conversely, the consumer Staples tumbled -3.4% after the shock weak update from Woolies and the departure of the CEO.

Weekend report

The Weekend Q&A: Volatility increases as reporting season evolves.

The ASX200 ended a volatile week up just +14-points, or 0.2%, after impressively shrugging off some aggressive selling mid-week following strong US inflation data cast a shadow over when & how quickly the Fed will start cutting interest rates. Whether it is Australia, Japan or the US, the markets are still embracing signs of weak economic growth, with markets focused on when the cuts will be forthcoming.

Weekend report

Local stocks edge lower as the S&P500 posts fresh all-time highs.

The ASX200 ended a choppy week slightly lower, snapping a two-week winning streak even after three consecutive days of gains from Wednesday. The -0.7% dip over the five days was primarily caused by weakness in the Resources Sector, plus some disappointment after the RBA retained its tightening bias on Tuesday.

Weekend report

Weekend Q&A: Volatility on the increase as ASX hits new all-time highs!

The ASX200 tested 7700 for the first time in its history last week, with the index finally ending up +1.9%, just one point shy at 7699. However, it wasn’t all one-way traffic as the index rallied over 1% on two occasions while, falling by a similar degree on Thursday as volatility lifted even as stocks continued their overall surge higher.

Weekend report

Weekend Q&A: Now its European stocks posting new all-time highs, can the ASX follow suit?

The ASX200 ended the shortened week up +1.8% and remains on track to post fresh all-time highs in the coming few weeks. Strength came from the most influential market sectors, including the banks/financials, energy, healthcare and resources names. On days when we saw profit-taking in the banks, where Commonwealth Bank (CBA) again posted all-time highs last week, the resources tended to surprise on the upside, i.e. any selling we did see appeared to be more rotational in nature as opposed to exiting the market.

Weekend report

Q&A – Part 2

We had a significant number of questions come in over the break, and we couldn't include them all in the usual Weekend Q&A on Saturday. Here's a special Monday follow up report, with additional Q&A. 

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