Market Updates

Wall Street closed mixed overnight as the market digested the latest round of tech earnings and fresh signs of labour market resiliency. Dow Jones up 164 points (+0.47%), marking its ninth straight day of gains, its longest streak since 2017, supported by Johnson & Johnson , which jumped 6% on upbeat revenue and earnings. Dow at best up 312 points. Meanwhile, the S&P 500 fell 0.68%, and th...

The ASX 200closed flat, near unchanged, up 1 point to 7325 , after jumping over 50 points in early trade before unemployment data dampened the market’s mood raising bets of further tightening from the RBA. The Aussie dollar jumped 0.6% to 68.15c, clawing back recent losses, and bond yields rose with 2Y yield up 12bps, and 10Y yield up 9bps on jobs data. Financials performed well today, with the bi...

US equities closed higher overnight, and the US dollar strengthened after a surprise cooling of UK inflation bolstered sentiment across global markets. The Dow rose 109 points (+0.31%), marking its eighth straight day of gains, its longest streak since September 2019. Dow at best up 282 points. S&P 500 up 0.24%, reaching levels not seen since April 2022, while a decline in Microsoft and Google...

ASX 200 up 40 points to 7324 (0.6%) in quiet trade again. Lacking conviction. Narrow range and once again banks leading the way higher, following US peers higher on NIM. CBA up 2.0%, ANZ up 2.0%, and the Big Bank Basket up to $180.15(2.0%). Insurers better too, QBE up 0.8% and SUN better. Money managers also in demand, ASX up 0.9% and MFG up 2.3%, with MQG rising 1.2%. REITS in demand after the dr...

All major US indices were up overnight, boosted by stronger-than-expected earnings results from heavy-weight banks and AI stocks. The Dow rose 367 points (+1.06%). Dow at worst down 55 points. Dow at best up 401 points. S&P 500 up 0.71%. NASDAQ up 0.76%. USD slid to a 15-month low before rebounding as futures point to a 99.2% probability that the Fed will hike rates by 25bps at its next meetin...

 ASX 200 slid 15 points to 7284 (-0.2%) after an early loss kicked on by RBA minutes reminding all that there could be more rate rises to come. Banks held up with the Big Bank Basket up to $176.79 (1%). NAB led the charge higher, up 2% with ANZ up 1.7%. Insurers too in demand, QBE up 0.4% and some buying in financial services with GQG up 1.3%. ASX continues to struggle down 0.2%. REITs slid with G...

US markets rallied over the possibility the Federal Reserve may soon conclude its rate-hiking campaign, while China’s economic data came in softer than expected. Dow Jones up 76 points (+0.22%). Dow at best up 156 points. Dow at worst down 90 points. S&P 500 up 0.39%. NASDAQ gained 0.93%. VIX +1%. US Treasuries were flat, 2Y yields dropping 0.9bps and the dollar softened with the USD Index fal...

US markets closed out the week mixed on Friday as the US Q2 reporting season kicks off. Dow Jones up 114 points on Friday (+0.33%). NASDAQ -0.18% . S&P 500 -0.1% . All markets were higher for the week on softer-than-expected US CPI data followed by lower-than-expected PPI data, the lowest in three years. For the week , the Dow Jones was up 2.3% , the S&P 500 up 2.4% and the NASDAQ up 3.3%...

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US markets closed higher overnight, extending gains for the second session and ending just off best levels after rallying the last hour of trade. Dow Jones up 317 points (+0.93%). Dow at best up 344 points. S&P 500 up 0.67% (+16.09% YTD). NASDAQ up 0.55%. Markets await US CPI data tomorrow and the official start of Q2 reporting season on Friday with the banks, which are expected to report high...

ASX 200closed up 105 points to 7109 (+1.5%), lifted by mining and gold stocks snapping a four-day losing streak with all sectors in positive territory. Gold miners outperformed today as gold prices firmed slightly overnight, and the US dollar extended a small retreat. EVN +4.6%, NST +3.1%, and NCM +1.8%. Mining trio BHP, RIO and FMG all rose over 1% each. Energy stocks gained, tracking an uptick i...

Wall Street ended higher overnight in a muted day of trade ahead of CPI data Wednesday. Dow Jones up 210 points (+0.62%). Dow at best up 223 points. Dow at worst down 29 points. S&P 500 up 0.24%. NASDAQ was little changed up 0.18%. VIX +1.62%. US treasuries were lower, 2Y yields continued to come off last week’s 5%+ highs, and the greenback softened with the USD Index falling 0.29% to 101.98....

ASX 200closed down 38 points to 7004 (-0.5%) after a jump of 42 points at the opening bell, rebounding from last week’s sell-off before the market turned lower on weak consumer inflation data from China. Gold outperformed today, tracking an uptick in bullion prices. NST and NCM up 1.8% and 1.1%, respectively. Energy stocks jumped in early trade after oil prices rose sharply amid supply concerns be...

Stocks fell on Friday, and finished lower for the week, as Wall Street struggled to shake off fears that the Federal Reserve may start hiking rates again later this month. The S&P 500 lost 0.29% to end at 4,398.95, while the Nasdaq Composite dipped 0.13% to close at 13,660.72. The Dow Jones Industrial Average dropped 187.38 points, or 0.55%, to settle at 33,734.88. Gold rose 0.71%, as US yield...

 ASX 200 fell 121-points to 7042 (1.7%). Another soggy end to the week. ASX 200 down 2.2% for the week. Losses across the board from the open, banks hit hard with the Big Bank Basket down to $168.52 (-1.5%) led lower by CBA with MQG down 1.3%. Insurers dropped despite a huge rise in yields, QBE down 1.1% and IAG off 1.0%. Fund managers suffering from some downgrades and MFG losses again of 3.3%. R...

US markets closed sharply lower overnight in a broad sell-off after fresh jobs data indicated a strong labor market boosting yields and fanned fears that the Fed will be more aggressive in hiking rates. The Dow Jones fell 366 points (-1.07). Dow at worst down 517 points. S&P 500 posted its biggest daily drop since May, down 0.79%. NASDAQ down 0.82%. Wall Street’s fear gauge VIX jumped, up 8.9%...

Blood on the streets on ASX 200 today, closingdown 90 points to 7163 (-1.2%), as investors exercised caution after the FOMC meeting minutes reaffirmed expectations that interest rates would remain higher for longer. Financials and miners weighed, with the big four banks losing between 1%-2%. The Big Bank Basket took a hit down to $171.07 (-1.6%). Copper prices fell overnight as overseas data dampe...

US stocks closed lower overnight following July 4th Independence Day holiday as the market digests the latest FOMC meeting minutes, trade barriers from China and oil output cuts from OPEC+. The Dow Jones closed down 130 points (-0.38%). Dow at worst down 191 points. S&P 500 down 0.2% NASDAQ fell 0.18, and the VIX rose 3.5%. Chip stocks fell after China said it would control exports of some met...

ASX 200closed down 26 points to 7253 (-0.4%), letting go of yesterday’s gains, snapping a three-day advance. Financials weighed on the market, with significant losses in the banking sector. NAB -0.8% CBA -0.5%, ANZ -0.8% and WBC -0.7%. Big Bank Basket down to $173.81 (-0.6%). Resources and base metals were mixed, with commodity prices falling as the commodity outlook turned negative, BHP -0.4%, RI...

Global stock market trading was light overnight, with US markets closed for the Independence Day holiday. European markets muted in thin trading overnight, with indices ending around session lows. STOXX 50 -0.2% FTSE -0.1% CAC -0.2%, and DAX -0.3%. US equity futures flat with markets closed. Asian markets mixed overnight. Hang Seng led gains in China, up 0.57%, as mainland equities finished flat....

The ASX 200rallied 33 points to 7279 (+0.5%), bouncing back from 7,232 lows following the RBA’s decision to hold rates at 4.1%. The Aussie dollar fell 0.2% to 66.58c, and the 2Y yield was virtually unchanged, up 1bps. Gold miners are happy, buoyed by stronger bullion prices. EVN up 1.8%, NST gained 1.6%, NCM up 1.2%. Iron ore miners mixed as US manufacturing PMI fell, and optimism was buoyed by th...

Wall Street closes higher overnight in a holiday-shortened session kicking off the second half of the year on a positive note ahead of the US July 4th holiday. Dow Jones virtually unchanged, up 11 points (+0.03%). Dow at best up 58 points. Dow at worst down 121 points. S&P 500 gained 4.75 points, up 0.12%, ending at 4,455 points, while the NASDAQ rose 0.21%. Treasury yields edged higher, with...