Market Updates

US equities fell overnight as Fed chair Powell reinforced the banks objective to rein in inflation, pointing to more rate hikes. All three major indices clocked their third straight daily loss, closing off best levels after a stalled afternoon rally attempt. Dow Jones down 102 points (-0.3%). Dow at best up 44 points. Dow at worst down 178 points. S&P 500 down 0.52%, and NASDAQ down 1.21% driv...

ASX 200 closed down 43 points to 7315 (-0.6%), easing after seven days of gains as commodity stocks lost traction on Chinese demand concerns. Gold stocks led today, falling 1.9%. NST down 2.3%, and NCM off 1.2%. Miners followed closely as iron ore prices fell. BHP lost 1.1%, RIO down 1.4%, and FMG off 1.7%. Lithium stocks mixed, MIN -1.1%, PLS +2.2%, and AKE +1.3%. Healthcare stocks healthier, wit...

ASX 200 closed up 63 to 7358 (+0.9%), rising for its seventh consecutive session, supported by interest rate cuts out of China propping up commodities as well as positive RBA meeting minutes that revealed policymakers were less hawkish on more rate hikes than previously thought. Energy and mining stocks led the advance today, WDS rose 2.2%, STO up 2.3%, BHP +1.3%, and PLS +2.5%. REITS did well, up...

US markets closed overnight for the Juneteenth holiday. Global equities are down, falling from 14-month highs hit last week as markets awaited testimony from Fed Chair Powell in markets dominated by monetary policy bets. No change in the broader narrative, European markets are in a holding pattern ahead of monetary decisions from BoE, Swiss National Bank and Norges Bank. European markets down, FTS...

The ASX 200 started the week on a positive note, up 44 points to 7292 (+0.6%), rising for its sixth consecutive session and reaching its highest levels in six weeks. Healthcare and consumer stocks led the market today, bouncing back from last week’s losses with CSL +2.4%, RMD +1.5%, and MSB +6.8%. Supermarket giants WES +0.9% and COL +1.3% led the consumer staples rally as UBS upgraded the stock t...

Dow Jones down 109 (-0.32%). Trade in a 300 point range, up 181 at best. S&P 500 -0.37% - close to a 14-month high. NASDAQ -0.68%. For the week the Dow Jones was up 422 points (+1.25%). NASDAQ +3.25%. S&P 500 +2.57%. Some of the big Tech stocks took a pause. Microsoft down 1.7%, Amazon down 1.3%. Microsoft was still up 4.8% for the week, Nvidia was up 10.1%, Tesla was up 6.6% and Meta was...

ASX 200 kicked 76 points higher to 7251 (+1.1%) as the BoJ kept policy unchanged, China on the precipice of stimulus and the US bull market rolling on. Banks led the charge higher with the Big Bank Basket up to $169.39(+1.2%). ANZ, a laggard, with a miserly 0.7% gain. MQG up strongly by 1.2% with money managers also putting on the Ritz, MFG up 0.9% and GQG up 1.0%. Insurers firmed with QBE up 1.0%...

US equities rallied overnight, with all three major indices gaining over 1% on strong economic data. Dow up 429 points (+1.26%). Dow at best up 510 points. Dow at worst down 33 points. S&P 500 up 1.22%, moving firmly above the 4400 level. NASDAQ up 1.15%, closing at its highest level in 14 months. US treasury yields slid after economic data pointed to easing inflation, helping offset worries a...

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US equities closed mixed overnight after some choppiness and heavy trading volume in the afternoon following the FOMC meeting. The Dow fell 233 points (-0.68%), weighed down by United Health. Dow at worst down 429 points. S&P 500 flat, up 0.08%, and the NASDAQ rose 0.39%. Long-dated US treasuries fell, 10Y and 30Y yields slipped 4.9bps and 6.4bps. USD Index off 0.38%, and Walls Streets fear ga...

ASX 200closed up 23 to 7162 (+0.3%) buoyed by positive sentiment following softer-than-expected US CPI numbers. Banks rose, riding positive market sentiment. The Big Bank Basket up to $166.36 (+0.8%) led by MQG up 1.4%, and WBC up 1.3%. Money managers doing well. Insurers also had a good day, IAG up 2.6% and QBE rose 0.9%. REITs lower as bond yields climbed, SCG down 1.2% and MGR down 2.2%. The He...

All three major US indices closed in the green overnight, following the US inflation report that indicated a slowdown in price pressures in May, raising the probability of a ‘skip’ at the next FOMC meeting tomorrow to 93.1% from 79.1% the day before . The Dow added 146 points (+0.43%). Dow, at best up 244 points. The S&P 500 and NASDAQ gained 0.69% and 0.83%, respectively, hitting their highes...

ASX 200closed up 16 points to 7139 (+0.2%) as the market returned from a long weekend. Global equity markets remain subdued ahead of the FOMC meeting and interest rate decision later in the week. Tech rallied following the NASDAQ, with the All-Tech Index up 3.8%, XRO up 4.2% and up 62.25% YTD, WTC +5.2%, and BRN +3.7%. Banks gaining ahead of US CPI tonight, led by MQG up 2.1%, and CBA up 0.8%. The...

The NASDAQ and S&P 500 rallied overnight up 1.53% and 0.93%. S&P 500 logged its fourth consecutive weekly gain on Friday and entered a new bull market .  The Dow closed near session highs, up 190 points (+0.56%). Dow at best up 201 points. US treasury yields and the dollar flat ahead of inflation data and interest rate decisions later in the week. Oil stumbles closing at its lowest level s...

ASX 200 closed up 23 points at 7123 (0.3%). For the week it has fallen 23 points from 7145. A better day all around with Banks better led by ANZ up 0.8% and WBC rising 0.3%. The Big Bank Basket up $164.10 (0.1%). Insurers firmed slightly and fund managers better.  REITs were mixed after the drubbing yesterday with GMG bouncing 1.1% on the tech rally. Tech stocks back in favour with WTC up 2.6% and...

US stocks closed higher overnight on positive of jobless claims suggesting a cooling of the US labor market. Dow up 169 points (+0.5%). Dow at best up 209. Dow at worst down 35 points. S&P 500 up 0.62% hitting a fresh closing high for the year. NASDAQ led the market up 1.02%. VIX Volatility Index fell to a fresh post-pandemic low, down 2.1% ahead of an eventful economic and policy calendar nex...

The ASX 200 clocks its third consecutive fall, down 18 points to 7100 (-0.3%), as gains in mining and energy stocks were offset by losses in Tech and healthcare. All-Tech Index down 2.5%, following the Nasdaq, as investors take some profits. XRO -5.3%, WTC -3.4%, and ALU -4.9%. Energy was the best-performing sector today, as oil prices steadied following mixed stockpile data, BPT up 3.5%, WDS up 1...

US equities closed mixed overnight. The Dow finished in the green up 92 points. Dow at best up 136 points, and at worst down 27 points. S&P 500 closed near session lows down 0.38%. NASDAQ down 1.29% as the market took profits after a month-long rally of megacap tech stocks ahead of key economic and policy events next week. Russell 2000 up +1.78%, a sign that investors are moving away from mega...

ASX 200closed down 12 points to 7118 (-0.2%) in a subdued trading day as the market continues to digest yesterday’s surprise rate hike from the RBA and looks for clues in Lowe’s speech today for interest rate trajectory. Sectors closed mixed today. Banks and Energy sectors worst performers. The Big Bank Basket is down to $163.75 (1.0%), the big four all down, CBA -0.9%, NAB -1.8%, WBC -1.5%, and A...

US markets closed in the green overnight, struggling to find traction in an uneventful day of trade, with all major indices closing near session highs. Dow flat up x points (+0.03%). Dow at best up x, and at worst down x points. S&P 500 +0.24% touching a 10-month high during trade, and now almost up 20% since October 2022 lows. NASDAQ +0.36%. Markets are subdued ahead of inflation data and FOM...

ASX 200closed down 87 points to 7130 (-1.2%) following a 25bps rate hike by the RBA, propping up the Aussie dollar 0.8% to 66.67c. Consumer discretionary hit hardest following rate hike news, as retail woes weighed on the market. HVN -3.2%, ADH -6.8%, and JBH off 1.8%. Banks hurting today, the Big Bank Basket down to $165.40 (-1.2%). CBA -1.0%, WBC -2.1%, ANZ -1.6%, NAB -1.1%. Insurers and Healthc...

US markets finished lower overnight after tech and energy stocks erased earlier gains, in a subdued trading day. Cyclical stocks weighed on the Dow. Dow down 200 points (-0.59%), at best up 41 points, and at worst down 210 points. Major laggards Caterpillar -1.8%, Boeing -2.1% and 3M – 4.4%.  S&P 500 down 0.20%. NASDAQ down 0.09%. Markets remain uncertain whether the Fed will pause rates at it...

 ASX 200 finished well off the highs, up 71 points (+1.0%) ahead of RBA uncertainty tomorrow. Solid cautious gains across the board. Resources were firm as iron ore rose, BHP up 1.7% and RIO up 1.3% with FMG screaming ahead up 3.6%. Lithium and base metals are better, PLS up 2.0% and S32 rising 1.3%. Gold miners slipped a little with NCM down 1.4% and NST off 0.4%. Oil and gas better after the Sau...

Global markets had a strong increase on Friday’s session. US markets had a strong performance, with the Dow rising by 701 points (+2.12%) and reaching a high of 743 points. The S&P 500 climbed +1.45%, securing its third consecutive weekly gain of 1.83%. The Nasdaq showed a rise of 1.07%, extending its streak of weekly gains to six, the longest since early 2020, with a total increase of 2.04%....

ASX 200 rose 34 points to 7145 (0.5%) as resources rallied hard on better Chinese numbers and debt ceiling relief. AUD back in demand. For the week, the ASX 200 is down 9 points . Iron ore miners going hard. BHP up 2.8% and RIO up 2.5%, with FMG up only 1.7%. Lithium stocks are also in demand, led by PLS up 3.0% and IGO up 2.5%. Base metals better, S32 rallying 1.8% and gold miners also flying hig...