Market Updates

ASX 200 closed up 43 points to 7246 (+0.6%), supported by a rise in commodity prices, starting the new financial year off in the positive, extending gains from the previous session. At best ASX 200 up 51 points, at worst down 4 points. The Gold sector performed well today supported by the rise in bullion prices a sign market participants are positioning themselves for a potential rate hike from th...

Dow Jones up 285 points (+0.84%). Up 345 at best. Up 148 at worst. NASDAQ +1.45% . S&P 500 +1.24% . One newswire describes the last day of the half-year as the “ Cherry on Top ”. SPI Futures are up 29 . The ASX 200 was up 104 points or 1.47% last week. The Tech sector led the ASX this week, with the Banks up 2.48% and REITs up 2.63% as a better-than-expected CPI number reduced the chances of a...

ASX 200 closed with a modest gain of 0.12% to 7203, up 8 points as EOFY came and went. For the week the index is up 103 points or 1.5%. A mixed session with Resources slightly firmer, BHP up 0.1% and FMG up 0.3% with lithium stocks drifting higher, PLS up 1.2% and IGO up 1.2% Gold miners were mixed and oil and gas stocks better, WDS up 0.5% and STO rising 0.8%. Coal miners mixed, WHC down 1.3% and...

The Dow Jones Industrial Average rose on Thursday as big bank names gained after passing the Federal Reserve’s annual stress test, and a revised upward GDP print alleviated some recession fears on Wall Street. The 30-stock index jumped 269.76 points, or 0.8%, to finish at 34,122.42, lifted by major bank names. The S&P 500 added 0.45% to end at 4,396.44, while the tech-heavy Nasdaq Composite cl...

ASX 200 closed down 2 points to 7195 , sinking from early gains after Retail sales show signs of resistance, coming in at 0.7% for May compared to 0.1% forecast. Consumer discretionary had an obvious boost from the higher retail numbers, EDV up 0.6%, DMP up 2.1%, and BBN jumped 7.4%. Banks continued to rally, ANZ gained 1.2% and MQG rose 0.7%. Big Bank Basket up to $171.55 (+0.55%). Energy stocks...

US equities finished mixed overnight. Blue chip Dow Jones closed down 72 points (-0.22), weighed down by healthcare stocks. Dow at worst down 171 points. S&P 500 was essentially unchanged, down 0.04%, and the NASDAQ gained 0.27% after Powell reiterated that interest rates would rise further this year and that he did not see inflation falling to its target rate this year or next year. US treasu...

ASX 200 closed up 78 points to 7197 (+1.1%), boosted by cooler-than-expected inflation results. The Aussie dollar fell to 66.43c (-0.6%), and the 2Y and 10Y bonds took a hit following inflation results, before closing down 6bps and 5bps, respectively. Interest rate-sensitive sectors performed well. Consumer discretionary the best-performing sector today WES up 1.3%, JBH up 2.5%, and SGR jumped 11....

Wall Street closes higher overnight, ending near best levels. Dow Jones up 212 points (+0.63%). Dow at best up 261 points, snapping a six-day losing streak. Tech megacaps led the round, with the NASDAQ up 1.65% and the S&P 500 up 1.15%, halting a two-day drop. Upbeat economic data eased recession fears while the dollar softened, and US treasury yields edged higher. European markets up on bets...

The ASX 200 up 40 points to 7118 (+0.6%) snapping back from a 4-day losing streak ahead of CPI numbers tomorrow. REITS saw the biggest gains today as the NSW premier announced an increase in height restrictions for apartment building in Sydney. GMG up 1.2% and SCG up 4%. Banks gained after their recent drop The Big Bank Basket up $168.31 (+0.8%). CBA +0.5%, WBC +1.6%, ANZ up 1.5% and MQG +0.8%. Mo...

Wall Street lost ground overnight, ending near worst levels as worries about the impact of further interest rate hikes mounted and crude prices advanced over aborted Russian mutiny over the weekend. Tech and mega-cap stocks led the losses as traders unwound bets that the Fed will cut interest rates this year, NASDAQ down 1.16%, and the S&P 500 fell by 0.45%, while the Dow Jones edged marginall...

The ASX 200 started the week down 21 points to 7079 (-0.3%), hitting 7,054, its lowest level in three months weighed down by losses in banking and mining stocks. Oil and gas stocks mixed despite strength in the oil price, KAR -0.5% and STX -1.1%, while BPT edged higher, up 0.4%. Iron ore giants BHP , RIO and FMG all fell 0.3% each. Gold miners rallied on bullion’s strength and a weaker US dollar....

The main event this week is Australia’s monthly CPI data out Wednesday . The last reading of 6.8% in April surprised the market, up from 6.3% in March, which was the lowest reading in 10 months, significantly exceeding market expectations of 6.4%, which led to a 25bps rate hike by the RBA in June. May CPI consensus at 6.1%. Also, on the domestic front, retail sales data out Thursday and housing pe...

ASX 200 finished down 96 points at 7100 (-1.3%) with another day of losses, the third in a row. 2.1% for the week. Once again, no real reason apart from Powell and the lack of Chinese stimulus perhaps, 10bps not really cutting it. Banks did a substantial nosedive with the Big Bank Basket dropping to $167.86 (-1.6%). CBA fell 1.6% and ANZ off 2.1%. MQG also falling hard with insurers in the red too...

Low-volume night in the US dominated by Powell’s testimony (see below) which was seen as a little less hawkish. The Fed remain data dependent (seen as a positive). Tech stocks led with the NASDAQ up 1.18% and the other markets flat. The Bank of England raised rates by 50bp, more than expected, although the UK market ( FTSE ) only fell 0.76%. The odds of a Fed rate rise at the next meeting on July...

ASX 200 took an ugly turn today falling 119 points to 7196 (-1.6%). No real reason, slight weak lead from US, no Asian session. US futures eased slightly but stop losses and maybe Powell’s testimony kicked us lower. Losses across all sectors, Banks under serious pressure, NAB down 1.4% and CBA off 1.6% with the Big Bank Basket down to $170.57 (-1.5%). MQG toppling 2.7% with insurers also in troubl...

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...