Market Updates

US markets finished higher on Friday as the market weighed remarks from Fed Chair Powell at the Jackson Hole Summit. Dow Jones rose 247 points (+0.73%). Up 342 points at best. Down 70 points at worst. While the S&P 500 and Nasdaq added 0.67% and 0.94%, respectively. The narrative from the Fed didn’t change after hype all week for additional clues. Powell addressed the string of resilient econo...

ASX 200 finished the week down 67 points to 7115 (0.9%). Down 33 points for the week. Results the focus. Weakness across the board on the back of the US sell-off. Banks brought back to earth with a bump, the Big Bank Basket down to $173.12 (-1.1%). NAB down 1.8%, with MQG off 0.8%. Insurers also fell hard as QBE dropped 1.6% and IAG off 3.2% on ASIC news. Fund managers also in the dumps. Healthcar...

All major US indexes closed sharply in the red overnight, ending near worst levels, losing more than 1% each as profit-taking weighed on shares. Dow Jones down 374 points (-1.08%). Dow at best up 222 points. Dow at worst down 379 points. S&P 500 finished below the 4400 level, down 1.35%, and the NASDAQ lost 1.87% as early session big tech rallies ceased after bond yields rose. Mega cap stocks...

ASX 200 rose 34 points to 7191 (0.5%). A solid grind higher with banks in demand. The Big Bank Basket up to $174.99 (+1.1%). CBA the standout with a 1.2% gain and WBC continues to find friends post-result up 1.4%. MQG had a solid day today up 1.8%, with insurers flat. MPL up 2.6% with results pleasing. REITs rallied as GMG up 0.5% and SCG up 1.9%. Industrials mixed, TLS eased back 0.7%, Tech bette...

US markets ended sharply higher, ending just off best levels, their biggest gain in nearly two months fuelled by weak PMI data across both the US and Europe, bolstering expectations that central banks would halt interest rate hikes to avert a recession. The Dow Jones rose 184 points (+0.54%). Dow at best up 246 points. S&P 500 posted its first 1% gain since 30-Jun, up 1.10%, and the NASDAQ pos...

ASX 200 rose 27 points to 7148 (0.4%), bouncing off the important 7100 level. Banks and BHP leading the way. Results continue to surprise. In every sense. The Big Bank Basket rose to $173.08 (+0.8%). Insurers bounced back, QBE up 1.5%, and SUN up 1.3%. MQG going nowhere, down 0.6%. REITs mixed with SCG and VCX easing back. Healthcare remains in ICU as CSL wallows, down 0.4%, RMD off 1.5% and COH f...

Wall Street ended mostly lower overnight, ending just off worst levels. Dow down 175 points (-0.51%). Dow at best up 50 points. Dow at worst down 207 points. S&P 500 extended its August slide down 0.28%, weighed down by banks as S&P Global Ratings joined Moody’s in cutting some US lenders’ ratings amid a “tough” environment. NASDAQ flat, up 0.06%. Nvidia fell 2.8% on the eve of its quarter...

ASX 200 rose 6 points to 7122 (0.1%) as results continue to dominate. 'Do not disappoint' is the mantra. BHP, the big one to report today, was a little underwhelming, although most was known after production numbers. The stock fell 0.7% with a slight miss to the dividend. Other miners were steady with big lithium in demand, PLS up 1.9% and AKE rallying 1.7% on results. Gold miners also i...

US equities closed mixed overnight. Dow down 37 points (-0.11%). Up 70 points at best. Down 252 points at worst. NASDAQ up 1.56%, while the S&P 500 rose 0.69% the upward movement was mostly driven by Nvidia +8.5% as HSBC raised its price target for the stocks and Tesla +7.3% recovering some of last week’s losses following news of more price cuts in China. Financial markets remain relatively su...

  ASX 200 dropped 33 points to 7116 (0.5%) as results dominated. Banks slid on WBC NIM woes, down to $170.88 (-0.9%) for the basket. WBC dropped 3.1%, with ANZ off 1.0%. MQG better, up 0.8%, but insurers fell after IAG results, QBE down 1.5%. Industrials were mostly firm, WES up 0.4%, ALL up 0.7% and REH managing a 0.2% gain. REA rose as tech stock saw buyers, XRO up 0.6% and WTC rallying 0.3%. Th...

ASX 200 fights back to close up 2 points at 7148 after a wobbly start. For the week the ASX 200 is down 2.6% as results season and China woes continue. Banks eased back again, CBA down 0.6% with the Big Bank Basket sliding to $172.49 (-0.5%). MQG fell 0.6% but MFG rallied 13.3% on a special dividend and cost-cutting. Insurers flat. REITs were dominated by GMG which has rallied an extraordinary 12%...

US equities close in the red overnight for the third straight day as a global bond market selloff intensified and tamped down enthusiasm for tech stocks. Dow ended near worst levels, down 291 points (-0.84%). Dow at best up 123 points. Dow at worst down 325 points. S&P 500 and Nasdaq fell 0.77% and 1.17%, respectively, booking losses for the third consecutive session amid renewed concerns abou...

ASX 200 closed down 49 points at 7146 (-0.7%) as China and US worries weighed. Super Thursday results also disappointed from TLS to NXL . A worse-than-expected jobs number at 3.7% helped the ‘RBA is done’ narrative and caused a rally off the lows but lacked conviction. Banks were mixed with the Big Bank Basket down to $173.41 (-0.8%). MQG fell hard down 2.0% with insurers mixed. QBE down 1.6%. Hea...

Wall Street ended lower overnight night after the FOMC minutes showed bank officials were divided over the need for more interest rate hikes at their last meeting. Dow Jones down 181 points (-0.52%). Up 187 points at best. Down 189 points at worst. S&P 500 off 0.76%, slumping for a second day in a row, and NASDAQ slid 1.15% as tech behemoths dragged. Treasury yields climbed, reaching levels no...

Blood on the streets on the ASX 200 today ,  market down 110 points to 7195 (-1.5%), posting its biggest drop in six weeks. REITs put up some resistance following solid earnings reports VCX +2.4%, MGR +5.3% and SCG +1.5%. Energy stocks fell, as crude oil fell for a third day after a drop in US inventories, STX off 3.5%, BPT down 2.8% and WDS -0.9%. Tech stocks tracked the Nasdaq lower, SQ2 -4.0% a...

US equity markets fell sharply overnight after stronger-than-expected retail sales data showed continued consumer resilience which stoked concerns that interest rates could stay higher for longer. Dow Jones fell 361 points (-1.02%). Dow at worst down 399 points. S&P 500 down 1.16%, falling below its 50-DMA for the first time in more than three months, halting a streak momentum that was by this...

ASX 200 rallied 28 points to 7305 (+0.4%) as results dominated today. Big names hitting the boards, CSL , COH, and NAB trading update. The banks were solid but unspectacular with the Big Bank Basket rising to $179.26 (+0.1%) after NAB quarterly update. NAB up 1.3% on a new buyback. Insurers bounced back on higher yields with QBE leading the charge up 1.3%, SUN up 1.6%. Healthcare in recovery ward...

US markets finished a choppy session higher on Monday. The Dow edged higher, up 26 points (+0.07%). Dow at best up 54 points. Dow at worst down 111 points. Big tech drove the S&P 500 and NASDAQ higher, +0.58% and +1.05%, respectively, boosted by a 7.1% jump in Nvidia after Morgan Stanley named Nvidia the bank’s “top pick” ahead of the chipmaker’s quarterly reports. This move sent other mega-ca...

ASX 200 fell 63 points to 7277 (-0.9%) as more Chinese woes hit confidence and iron ore losses mount in Asian trade. The big miners slid, BHP down 2.1% and FMG off 1.8%, with lithium stocks under pressure, PLS down 6.0%, and AKE dropping 3.9%. Base metal stocks eased too with gold miners holding in places. Oil and gas stocks gave up early gains as oil lost 1% in Asian trade. Coal stocks drifted lo...

US markets experienced a general decline last week as they absorbed fresh inflation data and evaluated the future trajectory of the Fed's interest rates. The Dow increased by 105 points (+0.30%) on firday, reaching its peak with a gain of 179 points, but also experienced a low point with a decline of 116 points. The S&P 500 registered a slight decrease of 0.11%, while the NASDAQ faced a m...

ASX 200 slid 17 points to 7340 (+0.24%) in quiet trade dominated by results again today. For the week the index is down 0.85%. Broad based weakness today, Banks eased after CBA results and Phil Lowe talked up rates in Canberra. The Big Bank Basket down to $180.46 (0.1%). Insurers mixed, QBE slipped 0.3% despite broker upgrades. Fund managers also squeezed slightly higher. MFG up 1.8%. Industrials...

US equity markets finished slightly higher overnight, ending near best levels as inflation worries ease. Dow Jones up 53 points to (+0.15%). Up 455 points at best. Down 16 points at worst. S&P 500 muted, up 0.03%, and the NASDAQ gained 0.12%. US treasuries firmed. 30Y yields climbed after a US$23bn auction was awarded the highest rate since 2011. 2Y yields reversed an earlier slide and the 10Y...

ASX 200closed up 19 points to 7357 (+0.3%) in a subdued day of trade. US CPI data tonight key. Energy sector is the top performer today as oil prices jump over US$84 a barrel, intensifying concerns that resurgent inflation will force central banks to raise rates further. STO , BPT and STX all gained over 2%. Coal stocks doing even better, YAL +4.8%, WHC +4.3% and NHC +5.8%. The big four banks let...

Wall Street closed lower overnight, ending near worst levels a day before the release of key US inflation data that could influence Fed interest rate decisions. Dow Jones lost 191 points (-0.54%). Up 56 points at best. Down 256 points at worst. S&P 500 down 0.70%, and the NASDAQ shed 1.17%. The US dollar eased, and the US 10Y treasury yields fell 2bps. Meantime, demand for the new 10Y notes wa...

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