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Tomorrow's trading on the ASX?

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Morning everyone...Thought I'd mention this before the opening bell and commentary, I noticed that yesterday when the ASX Edged higher to move lower throughout the day, that on my 30m chart of the ASX 200 that a Bearish Divergence had occurred and I think that means the ASX may not retrace its highs for a little while. I also think the ASX will open lower and close lower?...take a look!

1709588023440.png
 
an interesting piece , from the frequently inaccurate WSJ

DJ Bid Frenzy for Australian Building Materials Companies Could Broaden -- Market Talk
CSR
nochange
$8.83
$0.00 (0.0%)$8.83$8.50
05 Mar 2024 08:36:14
1 Viewdiscuss_orange.gif 0 comments
1635 ET - Australian suppliers of building materials have become a hot M&A target this year, prompting Jefferies to ponder if more companies could be drawn into the deal spree. Seven is seeking to take full control of Boral, while Adbri has recommended an offer from CRH and the Barro Group that values its equity at A$1.4 billion. Meanwhile, CSR is urging its shareholders to accept a A$4.3 billion cash offer from France's Saint-Gobain. "Putting aside the large cap James Hardie the motivation for this M&A activity presumably aligning with a positive long term outlook for Australian construction brings Reliance Worldwide and Fletcher Building into focus," Jefferies analyst Simon Thackray says in a note. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
March 04, 2024 16:36 ET (21:36 GMT)


i hold CSR ( free-carried ) , ABC and SVW (free-carried ' ) RWC , and FBU

one would almost wonder if somebody makes a grab at BKW ( i hold BKW and SOL )
 
The ASX is expected to edge lower this morning, with ASX200 futures finishing -3.0 points or -0.039% lower. The index slid -0.13% on Monday with materials leading the decline falling -0.72%, while real estate and information technology rose +1.34% and +0.92% respectively. Shares in Fletcher Building fell 2% after chairman Bruce Hassall brought forward his exit, while real estate and gold rose after a softer US manufacturing reading boosted investor optimism the Federal Reserve could begin cutting rates in the first half of this year.

In economic data, Monday saw the release of the latest building permits data with the report coming in below forecasts of 4.0% at -1.0%. Across the region, investors will be focusing on the latest PMI data out of China, with traders also focusing on the National People’s Congress.

Oil prices were lower on Monday with WTI crude and Brent both down -1.54% and -0.84% to US$78.74 and US$82.82 a barrel. Iron ore futures in Singapore finished higher on Monday by +2.09% and are relatively unchanged at -0.02% this morning at US$115.60, while copper finished -0.05% lower on Monday. Gold surged 1.58% to US$2,115 an oz, with silver also up +3.42% along with Bitcoin rising 6.62% to 67,015.48.
 
debtfree said:
Market Index - Wednesday Morning Wrap

www.marketindex.com.au

Morning Wrap: ASX 200 to fall, S&P 500 and Nasdaq pull back, Bitcoin tumbles from record high

ASX 200 futures are trading 10 points lower, down 0.13% as of 8:30 am AEDT.
www.marketindex.com.au www.marketindex.com.au
Click to expand...

The ASX is expected to open weaker this morning with ASX200 futures down -10 points or -0.13% to 7,690. The index edged -0.15% lower amid mixed sector performance with materials and healthcare up 0.56% and 1.0% respectively while consumer discretionary leading losses down -1.21%. Gold miners were a notable performer as the precious metal climbed towards a record high with St. Barbara up 12.5%, Regis Resources up 5.5% and Ramelius Resources gaining 4.3%. Elsewhere, shares in Iress climbed 12.5% in the final minutes of trading after an article in the Australian Financial Review that Private Equity firm Thoma Bravo was potentially interested in a bid for the fintech. In economic data today, GDP for Q4 2023 is due to be released at 11:30 AEDT

In commodities oil prices finished lower with both WTI and Brent crude down -0.71% and -0.92% respectively. Iron ore futures in Singapore are -0.34% lower this morning following a -1.02% drop on Tuesday to US$114 with copper also -0.21% lower. Gold has extended a streak of five sessions higher, up a further 0.73% overnight to US$2,129 touching a new record high while silver is -0.85% lower along with Bitcoin -8.16%.
 
Bailxtrader said:
The ASX is expected to open weaker this morning with ASX200 futures down -10 points or -0.13% to 7,690. The index edged -0.15% lower amid mixed sector performance with materials and healthcare up 0.56% and 1.0% respectively while consumer discretionary leading losses down -1.21%. Gold miners were a notable performer as the precious metal climbed towards a record high with St. Barbara up 12.5%, Regis Resources up 5.5% and Ramelius Resources gaining 4.3%. Elsewhere, shares in Iress climbed 12.5% in the final minutes of trading after an article in the Australian Financial Review that Private Equity firm Thoma Bravo was potentially interested in a bid for the fintech. In economic data today, GDP for Q4 2023 is due to be released at 11:30 AEDT

In commodities oil prices finished lower with both WTI and Brent crude down -0.71% and -0.92% respectively. Iron ore futures in Singapore are -0.34% lower this morning following a -1.02% drop on Tuesday to US$114 with copper also -0.21% lower. Gold has extended a streak of five sessions higher, up a further 0.73% overnight to US$2,129 touching a new record high while silver is -0.85% lower along with Bitcoin -8.16%.
Click to expand...

i noticed the SPI ( according to Commsec , at least ) has moved around a bit this morning

a bit of extra caution might be wise today

good luck everyone
 
divs4ever said:
i noticed the SPI ( according to Commsec , at least ) has moved around a bit this morning

a bit of extra caution might be wise today

good luck everyone
Click to expand...
Having a bit of time at home this morning to catch up on paperwork etc and also the chance to have a gecko occasionally at the all important watchlist.
It is not holding any joy for me, so I will now wait to see how the day ends at 1pm.
 
GDP

Australia's economic momentum has noticeably slackened in the final quarter of last year, mirroring the strain elevated interest rates and surging living expenses have placed on consumer expenditure.

The latest figures from the Australian Bureau of Statistics (ABS), Gross Domestic Product (GDP) saw a modest rise of 0.2% in the quarter ending December, a slight deceleration from the previously revised 0.3% growth in the third quarter. Year-on-year, the economy expanded by 1.5%, in line with forecasts but represents a deceleration from the decade's average growth rate of 2.4%. This period marks the weakest annual performance since the end of 2000, barring the pandemic years.

1709761209178.png

On a per capita basis, which breaks down economic output per person, the numbers are more pessimistic. On this basis, GDP fell -0.3% in the final quarter of the year after a -0.5% decline in Q3, marking a fourth consecutive quarterly decline. Essentially, GDP is at the moment reliant on an increasing population and continued migration.

The slowdown adds to growing speculation that the Reserve Bank of Australia (RBA) might pivot towards loosening its monetary policy later this year. Based on cash rate futures, traders are currently pricing in two rate cuts, both in the latter half of the year.

The RBA forecasts a modest trough in annual economic growth at 1.3% by mid-year before an anticipated recovery to 2.2% in 2025, supported by an expected reduction in cash rates. Despite the weaker print, the Australian dollar is 0.12% higher at 0.6511 while the ASX200 is modestly higher by 0.09%. The numbers have also had a minimal impact on cash rate futures and government bond yields, suggesting that the weaker numbers have had little impact on investors’ view that the RBA will need to ease gradually in late 2024.
 
US equities were higher on Wednesday on the back of Jerome Powell’s comments that the Fed continues to expect rate cuts in 2024.

The ASX is expected to open higher this morning with ASX200 futures up +38 points or +0.467% to 7,749. The index rose +0.12% on Wednesday on the back of the financial sector leading gains to finish +0.80%, with information technology leading losses down -1.44%, while the Australian dollar rose +0.95% on the back of comments from Fed Chair Jerome Powell.

In stocks on Wednesday, the big banks closed higher with CBA, NAB, and Westpac up 1.2%, 1%, and 1.1% respectively, while Magellan rose 7.9 % after total funds management increased to $37.2 billion in February. While the information technology sector led declines with WiseTech sliding -2.6% on the back of traders taking profits.

In local economic data, Wednesday saw the release of the latest GDP data for the fourth quarter, with the report showing GDP rose 0.2% over the quarter and 1.5% over the year, in line with RBA expectations.

Oil prices were higher on Wednesday on the back of the latest EIA report showing WTI Crude stockpiles rose by 1367k compared to expectations of 1720k, signalling an improvement in demand. WTI and Brent crude were up +1.23% and +1.05% respectively to US$79.12 and US$82.90 a barrel. Iron ore futures in Singapore finished +0.74% higher on Wednesday and are up +0.36% this morning to US$115.70, with copper also +0.53% higher. Gold has continued its recent rise, up a further 0.84% overnight to US$2,145 while silver is +2.06% higher along with Bitcoin +5.44%
 
quite a few going ex dividend today

BHP
Bapcor
G8 Education
IDP Education
Michael Hill
nib
Pinnacle Investments
Platinum Asset
Rio Tinto
South32
Viva Energy
Woodside Energy
 
US equities were higher on Thursday as Powell continued to give insight on the path for rate cuts, while investors await the release of key economic data.

The ASX is expected to open higher this morning with ASX200 futures up +46 points or +0.592% to 7,815. The index rose +0.39% on Thursday on the back of the industrial and information technology sectors leading gains to finish +1.33% and +1.03%, with energy leading losses down -1.15%, while the Australian dollar rose +0.84%.

In stocks on Thursday, the energy sector was weighed down by BHP, Rio Tinto, South32, and Woodside Energy all trading ex-dividend, while WiseTech and NextDC rose by 1.1% and 2.5% respectively. Gold miners continued to rise with Perseus Mining up 5.9%, Newmont rising 0.6%, and Evolution Mining closing 2.8% higher.

While there is no major local data, investors will be focusing on the latest inflation data out of China.

Oil prices were lower on Thursday with WTI and Brent crude down -0.32% and -0.19% respectively to US$78.90 and US$82.81 a barrel. Iron ore futures in Singapore finished +1.24% higher on Thursday and are down -0.92% this morning to US$115.65, with copper +1.21% higher. Gold has continued its recent rise, up a further 0.50% overnight to US$2,158 while silver is +0.70% higher along with Bitcoin +1.54%.
 
debtfree said:
Market Index
Click to expand...
paradox conundrum enigma .. what do we make of it all?

"Another day, another record close on the S&P/ASX 200. It's just what we do now!

Today's heroes were Financial, Health Care, and Consumer Staples stocks. A fairly defensive mix if you think about it. Which is a bit weird...Right?

Market records should be about offence. About strong earnings growth, which typically comes from strong economic growth.

Yet the sector most predisposed to economic growth, the Resources sector, was the worst performing sector today – and it has been pretty much all week...
 

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