Market Updates

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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US equity markets finished lower overnight, in a broad sell-off after Moody’s cut the credit ratings of 10-small to mid-sized US banks, reigniting fears about the health of the US banks and the economy. The Dow Jones closed 159 points lower (-0.45%), well off worst levels. Dow down 466 points at worst. S&P 500 dipped 0.42%, and the NASDAQ lost 0.79%. After a five-month rally this year, the S&a...

ASX 200closed flat, up 2 points to 7311 (+-%), losing early morning gains, with mining and financials balancing the market. Iron ore giants were mixed FMG up 0.4%, BHP down 0.6%, and RIO off 0.4%. Goldman predicts a fall in iron ore prices this year. Iron ore futures in Singapore have fallen 11.6% from its cyclical high last month. The “big four” banks were mixed CBA and NAB in the green while ANZ...

All three major US indexes closed higher on Monday, rebounding from their worst weekly fall since March, and ending near best levels, as investors position themselves ahead of Thursday’s CPI report due this week. Dow Jones saw its biggest advance in more than seven weeks, up 408 points (+1.16%). Dow at best up 432 points. S&P 500 halted a four-day drop, up 0.90%, and the NASDAQ gained 0.61%. T...

ASX 200 drifted 16 points lower to 7309 (-0.2%) as iron ore miners and banks wallowed. WBC and ANZ, the worst performers ahead of CBA numbers Wednesday. The Big Bank Basket down to $176.94 (-0.2%). Insurers slid with QBE off 1.8% and SUN dropping 2.6%. MQG slightly firmer up 0.4% and GQG up 4.5% on better FUM numbers . GMG led the REITs bouncing as bond yields came under pressure, SCG up 1.1% and...

US markets concluded the week with losses all round as the latest batch of corporate earnings reports and new job statistics dampened market sentiment. The Dow Jones declined by 150 points (-0.43%). At its best, the Dow was up by 291 points, while at its worst, it was down 182. The S&P 500 and the NASDAQ experienced drops of 0.53% and 0.36%, respectively. These declines were primarily influenc...

ASX 200 closed up 14 points to 7325 in a late surge. For the week the index dropped 1.1%. Banks held steady despite the ACCC knocking back the ANZ / SUN deal, The Big Bank Basket relatively unchanged at $177.25. MQG was slightly better up 0.8%, but REITs hit hard once again as 10-year yields continued to rise. Defensive healthcare stocks under pressure. CSL down 0.7% and RMD tumbled 9.3% after dis...

All three major US Indexes finished lower overnight after a choppy trading session as US bond yields hit nine-month highs and the dollar dipped following a US credit downgrade. Dow Jones fell 67 points (-0.19%). Dow at best up 66 points. Dow at worst down 160 points. S&P 500 posted its third straight decline, down 0.25% on track to break four-straight weekly gains. Tech under pressure as their...

ASX 200 closed down 43 points to 7312 (-0.6%), sliding for a second straight session, tracking losses on Wall Street overnight. Tech led the laggards today, XRO -2.7%, REA -0.8% SQ2 -1.9%. All-Tech index down 1.0%. Iron ore miners slipped, tracking the softening price in Asia. BHP down 1.2%, RIO off 1.7% and FMG down 1.3%. Big four banks are all down. CBA -1.0%, NAB -0.6%, ANZ -0.4% and NAB -0.6%....

US markets were lower overnight, ending near worst levels, following hot labour market data and a ramp-up in treasury issuance just a day after a US credit downgrade by Fitch. Dow Jones down 348 points (-0.98%). Dow at worst down 404 points. S&P 500 notched its worst day since April, down 1.38%. Tech-heavy NASDAQ off 2.17%, its worst day in five months. Wall Street’s “Fear Guage” the VIX climb...

Blood on the streets in the ASX 200 today, the market closed down 96 to 7355 (-1.3%) in a broad market sell-off, losing yesterday’s gains and then some as heavyweight banking and mining stocks weighed. All sectors finished in the red today. Iron ore giants BHP , RIO and FMG all lost over 1% each. Gold stocks not so golden today, NST and NCM down 2.7% and 0.7%, respectively. Lithium stocks sad, LKE...

Wall Street closed mostly lower overnight in an uneventful session as the latest slew of corporate results came in mixed. The Dow Jones rose 71 points (+0.20%). Up 120 at best. Down 33 at worst. Meanwhile, the S&P 500 and NASDAQ dipped by 0.27% and 0.43%, respectively. US treasury yields rose, with the 30Y paper touching a new year high. Conversely, gold prices fell, weighed down by a stronger...

ASX 200 up 40 points to 7451 (+0.5%) as shares rallied slightly further in the afternoon after the RBA announced it was leaving the cash rate unchanged. The Aussie dollar fell 0.8%  to 66.66c, and bond yields took a hit. 2Y and 10Y bond yields fell 9bps and 8bps, respectively. Gold miners were golden today thanks to Lowe, NCM up 1.4%, EVN up 2.4% and NST +1.6%. Major iron ore miners rose following...

US equities finished in the green overnight on July’s last trading day, closing near best levels. Dow Jones up 100 points (+0.28%). Up 108 points at best. Down 29 points at worst. S&P 500 and NASDAQ added 0.15% and 0.21%, respectively. All three major indexes ended with gains for the month, Dow +3.32%, and the S&P 500 and NASDAQ jumped 2.9% and +3.8% marking the fifth positive month in a r...

ASX 200 closed up 7 points to 7410 (-0.1%) in a narrow day of trading, boosted by a lower US inflation rate. Resources mixed after China’s manufacturing activity shrank for a fourth month this year . Iron ore miners slightly higher S32 up 0.8%, BHP up 0.5% and RIO up 0.4%. Energy continuing its bull run as Crude Oil has its best month in more than a year. STO up 0.3% and ALD up 1.2% Gold lower aga...

The Dow Jones gained 177 points (+0.5%), ending the week on a win. At its best, the Dow was up by 283 points, while at its worst, it was up 72 points. The S&P 500 also saw an increase of 0.99%, while the NASDAQ rose 1.9% as US reporting season continued. The USD Index slipped on price data showing moderation in annual US inflation. VIX was down 7.7%, and Gold bounced up 0.72%. Roku surged 31.4...