Australian (ASX) Stock Market Forum

Tomorrow's trading on the ASX?

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The ASX is expected to open lower this morning with ASX200 futures down 33 basis points or -0.43% to 7,554. At the close on Monday, the index fell -0.96%, with materials leading the decline to close -2.66% lower, while the Australian Dollar fell -0.46% on Monday to 0.6482.

In stocks on Monday, 81% of stocks were lower, with all sectors but healthcare closing lower. BHP closed 2.4% lower to $46.45, Rio Tinto retreated 2.2% to $129.12, while Fortescue slid 2.8% to $28.9, with all miners falling following a decline in iron ore prices.

In local economic data, investors will be focusing on the latest RBA interest rate decision at 2:30 pm today, with investors expecting the central bank to hold rates at 4.35% while hoping to see a softer tone on rate cuts.
 
The ASX is expected to open higher this morning with ASX200 futures up 55 basis points or +0.73% to 7,588. At the close on Tuesday, the index fell -0.58%, with information technology and materials leading the decline to close -1.80% and -1.13 % lower respectively, while the Australian Dollar rose +0.59% to 0.6521.

In stocks on Tuesday, 62% of stocks were lower, with all sectors but energy closing lower. Retailers Nick Scali and Myer jumped 16.6% and 14.3% respectively on the back of both companies announcing stronger than anticipated earnings. Cochlear slid 6.9% to $287.29 after UBS downgraded the stock to sell on the concerns around the company’s potential CMV vaccine. Elsewhere, Magellan rose 1.3% to $9.06, with the company recording an increase in its funds under management in January at $36.3 billion, up from its December FUM of $35.8 billion.

Oil prices finished higher on Tuesday, with both Brent and WTI crude oil +0.90% higher respectively to US$78.68 and US$73.48 a barrel. Iron ore closed the session -1.22% lower and is +0.86% higher this morning, while copper rose +0.30%. Gold was +0.51% higher to US$2,035 an oz with silver +0.27% higher to US$22.41, while Bitcoin was +1.95% higher to 43,167.39.
 
Locally, the ASX is expected to open flat with ASX200 futures up just 3 points or 0.04% to 7,571. The index rose 0.45% on Wednesday, driven by gains in materials 1.06% and financials 0.32%. Shares in Cettire, the online luxury goods retailer, surged 25.24% after posting a 89% boost in revenue for the first half of the 2024 financial year. Elsewhere, shares in Santos dropped -5.84% after merger talks with Woodside Energy ended without a deal. In focus for local investors today will be the latest inflation data out of China, expected to show a -0.5% drop over the 12 months to January with producer prices, a forward-looking indicator of consumer prices, expected to show a -2.6% drop over the same period.

Oil prices were higher overnight despite a larger than expected build in crude oil inventories of 5.521m barrels vs 1.895m estimated, which was offset by a -3.145m barrel draw in gasoline inventories vs -140k expected. Iron ore futures in Singapore were little changed on Wednesday but are trading 1.33% higher this morning at US$126.70 while US copper futures finished -1.16% lower. Gold is little changed overnight at US$2,034 an oz while silver is -0.95% lower at US$22.21.
 
A little late, but here it is, thanks, debtfree, enjoy your time away.

www.marketindex.com.au

Evening Wrap: ASX 200 edges higher as AGL, Cochlear & News Corp pop on results

Aussie stocks closed modestly higher today, and not far away from record territory again. Better than expected first half results for AGL, Cochlear and News Corp spurred large gains in their stock prices. Energy stocks were again weaker due another slide in Santos.
www.marketindex.com.au www.marketindex.com.au
 
The ASX200 is expected to open flat this morning, with ASX200 futures unchanged at 7,595. The index rose 0.31% on Thursday with financials accounting for most of the gains, with the sector rising 0.88%. Shares in Cochlear climbed 4.4% after lifting earnings guidance for the 2024 financial year to between $385-400m on better-than-expected implant sales. REA Group was -4.2% despite a 16% increase in its dividend for the six months ending December 31st as it warned of higher operating expenses and reported a 37% decline in net profit reflecting an impairment of PropertyGuru and other one-off impacts.

Oil prices climbed overnight with both WTI and Brent crude up 3.51% and 3.28% to US$76.44 and US$81.80 a barrel. The move higher comes after Israeli Prime Minister Benjamin Netanyahu’s dismissed a potential cease-fire in the Israel-Hamas war. Iron ore futures in Singapore climbed 2.77% on Thursday to US$128.50 following weaker-than-expected Chinese inflation data, prompting speculation officials will need to do more on the stimulus front to support the economy. Gold was little changed again overnight at US$2,033 an oz, while silver climbed 1.74% and Bitcoin was up 2.78%.
 
debtfree said:
Market Index - Monday Morning Wrap

www.marketindex.com.au

Morning Wrap: ASX 200 flat, S&P 500 closes above 5,000 for first time + Audinate, Carsales results

ASX 200 futures are trading flat as of 8:20 am AEDT.
www.marketindex.com.au www.marketindex.com.au
Click to expand...
Similar news compared to @debtfree. With a few different stocks getting a mention, plus some Commodities update. Perhaps today the ASX 200 will close lower. Trying to extend its recent upturn.

The ASX200 was flat at the end of trading on Friday, with ASX200 futures unchanged at 7,595. The index edged 0.07% higher on Friday with health care and information technology accounting for most of the gains, with the sectors rising 1.00 and 1.13%.

In Stocks on Friday, shares in Cochlear climbed a further 5.9% to hit a record closing high of $322.73 on the back of upgraded guidance for financial 2024. While Uranium stocks Boss Energy and Paladin fell 12.7% and 7% respectively, on the back of major Canadian miner Cameco revealing plans to expand production overnight.

In local economic data, investors will be focusing on the latest consumer confidence figures on Tuesday, with employment data and consumer inflation expectations to follow on Thursday.

Oil prices climbed overnight with both WTI and Brent crude up 0.81% and 0.69% to US$76.84 and US$82.19 a barrel. Iron ore futures in Singapore fell -1.46% on Friday to US$126.62 and is up 0.38% this morning to 127.10, while copper fell -0.55%. Gold was -0.50% lower on Friday at US$2,024 an oz with silver edging 0.13% higher, while Bitcoin was up 4.89% on Friday and rose a further 1.12% over the weekend to finish at 48,077.17.
 
Market Index - Monday Evening Wrap

www.marketindex.com.au

Evening Wrap: ASX 200 dips on CSL trial miss, but tech, discretionary earnings bullish

CSL's disappointing Phase 3 trial results for its key heart drug undermined a strong performance in technology and discretionary stocks. Both of the latter sectors were bolstered by better than expected first half FY24 earnings results. Audinate (AD8) and JB Hi-fi (JBH) were two of the standouts.
www.marketindex.com.au www.marketindex.com.au
 

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