Tomorrow's trading on the ASX?

[debtfree]

Market Index - Wednesday Evening Wrap

The S&P/ASX 200 closed 26.9 points higher, up 0.35%.

Critical minerals. They're minerals that are critical to Australia's and the world's energy transition. They're future facing, we have a bunch of them, and the world needs loads of them.
Up until today, all of the above key facts considered, the share prices of most ASX critical minerals stocks were in the toilet.
Today, jolted by Federal Budget spin and all-round good vibes...they have emerged from the toilet, to once again take their rightful place at the forefront of Aussie investors' minds.
On that cheery note...
Let's dive in!

Evening Wrap: ASX 200 rises as critical minerals stocks get critical shot in the arm from Federal Budget

Today, jolted by Federal Budget spin and all-round good vibes...critical minerals stocks have emerged from their malaise, to once again take their rightful place at the forefront of Aussie investors' minds.

www.marketindex.com.au

 

[debtfree]

Market Index - Thursday Morning Wrap

ASX 200 futures are up 50 points, or +0.64%, as of 7:45am AEST.

The dream of a soft landing in the world's largest economy is still on course. US inflation numbers for April beat expectations on the headline and core measures. Combine this with flat retail sales and markets have interpreted it as a sign that the Fed's interest rate policy is working. All the major US indices closed at record highs and we're expecting to see that buoyant sentiment flow through to our markets today.
On the stocks front, local earnings continue to trickle in. Among the names reporting are Aristocrat Leisure, GrainCorp and Incitec Pivot. And Warren Buffett has been buying again - this time, revealing a US$6.7 billion stake in home security provider Chubb.
Let's dive in.

Morning Wrap: ASX 200 to rise, US markets close at record highs, Warren Buffett discloses his latest purchase

The dream of a soft landing in the world's largest economy is still on course. US inflation numbers for April beat expectations on the headline and core measures. Combine this with flat retail sales and markets have interpreted it as a sign that the Fed's interest rate policy is working. All the...

www.marketindex.com.au

 

[debtfree]

Market Index - Thursday Evening Wrap

The S&P/ASX 200 closed 127.6 points higher, up 1.65%.

How sweet it is. +127 of the best of them today.
And you would have to be pretty unlucky to have any stocks in your portfolio that actually went down – such was the magnitude and broad-based nature of today’s rally (Ok, I knew YOU would be the only one to contradict that statement! Unluckiest investor in the world…)
With interest rate cut expectations on the rise, naturally it was the key "interest rate sensitives" as I like to call them of Property, Technology, and Consumer Discretionary which dominated the winners list today.
There was one notable laggard, though. I wonder if you can guess who it was?
Let's dive in!

Evening Wrap: ASX 200 surges, nears record as investors scramble into property, tech, and consumer stocks. Gold-silver melt-up continues

With interest rate cut expectations on the rise, naturally it was the key "interest rate sensitives" of Property, Technology, and Consumer Discretionary which dominated the winners list on the Australian share market today.

www.marketindex.com.au

 

[debtfree]

Market Index - Friday Morning Wrap

ASX 200 futures are down 44 points to 7,875 as of 8am AEST.

Some of yesterday's post-inflation and retail sales rally was given back today but not before the Dow Jones hit 40,000 points for the first time in intra-day trading. Consumer giant Walmart upped its earnings outlook despite admitting that spending momentum started to slow in April.
It's expected to be a muted day locally given there are no major corporate and economic items previewed for today.
Let's dive in.

Morning Wrap: ASX 200 to fall, Dow Jones breaches 40,000 level for first time, Walmart at all-time highs

Some of yesterday's post-inflation and retail sales rally was given back today but not before the Dow Jones hit 40,000 points for the first time in intra-day trading. Consumer giant Walmart upped its earnings outlook despite admitting that spending momentum started to slow in April. It's...

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[debtfree]

Market Index - Friday Evening Wrap

The S&P/ASX 200 closed 66.9 points lower, down 0.85%.

It wasn't a great day for the benchmark S&P/ASX200.
But, who cares!?
1. It's the weekend
2. Dozens of previously beaten down lithium and critical mineral stocks went bonkers
(As in, you won't believe some of the (hmmm...dare I say, junk) that went up today!)
On that mysterious and intriguing note...
Let's dive in!

Evening Wrap: ASX 200's weekend woes far less painful considering melt-up in lithium, critical metals stocks

It wasn't a great day for the benchmark S&P/ASX200. But, who cares!? Previously beaten down lithium and critical mineral stocks went bonkers.

www.marketindex.com.au

 

[debtfree]

A bit of tomorrow's (actually Monday) news today ....... an early peak at the good Market Index's ETF table.
I hope I've got it right, we'll find out on Monday morning.

 

[debtfree]

Market Index - Monday Morning Wrap

ASX 200 futures are up 35 points, or +0.44% as of 8:15am AEST.

It's set to be a quiet start to the week but you wouldn't know that looking at the price action. The Dow Jones Industrial Average closed above 40,000 for the first time ever last Friday - and sealed a five-week winning streak in the process. In fact, all time highs seem to be the norm for global equity markets over the last few years. Of the 20 largest stock markets in the world, 14 of them are at or near all-time highs.
It's not just stocks that people are piling into either. Corporate earnings are growing at their second-strongest quarterly pace in two years, leading the biggest investors to pile into corporate bonds.
But it's not a bubble, is it?
Let's dive in.

Morning Wrap: ASX 200 to rise, Dow Jones closes above 40,000 level for first time, Where investors are piling cash into

It's set to be a quiet start to the week but you wouldn't know that looking at the price action. The Dow Jones Industrial Average closed above 40,000 for the first time ever last Friday - and sealed a five-week winning streak in the process. In fact, all time highs seem to be the norm for global...

www.marketindex.com.au

 

[debtfree]

Market Index - Monday Evening Wrap

The S&P/ASX 200 closed 49.3 points higher, up 0.63%.

We are indeed the lucky country. Blessed with all the good stuff the world wants for the upcoming energy transition, and not to mention all of those empty and derelict apartment buildings and bridges to nowhere in China.
Count your lucky stars Aussie investors, and...
Let's dive in!

Evening Wrap: ASX 200 notches gain as copper, nickel, gold, silver, and uranium stocks soar

What a day on the ASX! Copper, iron ore, nickel, gold, silver, uranium. All the good stuff we have that the world wants. We are indeed the lucky country, and these stocks were the luckiest of all today...

www.marketindex.com.au

 

[Dona Ferentes]

futures down modestly

Here, attention will turn to the minutes of the Reserve Bank’s May policy meeting for more details on how serious is its consideration of a rate increase after strong first-quarter inflation figures.... due out at 11.30am

Since then, weaker-than-expected jobs and wages data have led the market to swing back to pricing rate cuts, implying a less than 50 per cent chance of a reduction to 4.1 per cent by Christmas.

 

[debtfree]

Market Index - Tuesday Morning Wrap

ASX 200 futures are down 9 points to 7,879, as of 8:40am AEST.

At the end of last year, we compiled a piece on the rush (and indeed, the uselessness) of S&P 500 year-end targets. Well, we're five months into 2024, and research houses who have not already changed their targets at least once are now springing into action. The NASDAQ closed at another record high while the S&P 500 rally is estimated to have added US$12 trillion in wealth since the surge began last October.
Will today be the day the ASX 200 notches its record high? Locally, we're already seeing a few interesting corporate catalysts - not least the fact that James Hardie has notched up another record earnings year in spite of what's meant to be a tough homebuilding and construction market.
Let's dive in.

Morning Wrap: ASX 200 to edge lower, James Hardie reports record earnings, Telstra reaffirms FY24 guidance

At the end of last year, we compiled a piece on the rush (and indeed, the uselessness) of S&P 500 year-end targets. Well, we're five months into 2024, and research houses who have not already changed their targets at least once are now springing into action. The NASDAQ closed at another record...

www.marketindex.com.au

 

[debtfree]

Market Index - Tuesday Evening Wrap

The S&P/ASX 200 closed 12 points lower, down 0.15%.

On the surface a quiet day – but do a little digging and it was far from thus!
Results from Telstra, Technology One, ALS, and James Hardie saw big moves in each of those stocks, while base metals stocks kept chugging along driven by ever-spiralling prices on the London Metals Exchange.
Beaten down lithium and critical minerals stocks bounced back.
Let's dive in!

Evening Wrap: ASX 200 dips on Telstra and James Hardie results, metals stocks keep chugging along

On the surface a quiet day – but do a little digging and it was far from thus! Results from Telstra, Technology One, ALS, and James Hardie saw big moves in each of those stocks, while base metals stocks kept chugging along driven by ever-spiralling prices on the London Metals Exchange. Beaten...

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[debtfree]

Market Index - Wednesday Morning Wrap

ASX 200 futures are up 21 points, or +0.26% at 8:25am AEST.

Some may say that it's lonely at the top, but in this case, it's lonely at the bottom for JPMorgan's Marko Kolanovic. Kolanovic, who was once one of Wall Street's biggest bulls, is now the last major stock market bear standing following Morgan Stanley's revision yesterday. Kolanovic is keeping his bearish view on stocks despite the S&P 500 and NASDAQ hitting more record highs.
And it's not just stocks which are smashing records - gold, silver, copper, and now, a key uranium ETF has hit a 10-year high.
On our bourses, Webjet has already released its earnings (more details below) while Telix Pharmaceuticals and Eagers Automotive host their AGMs. And there's already been two early broker moves.
Let's dive in.

Morning Wrap: ASX 200 to rise, Uranium ETF hits 10-year high, Webjet reports 40% earnings surge

Some may say that it's lonely at the top, but in this case, it's lonely at the bottom for JPMorgan's Marko Kolanovic. Kolanovic, who was once one of Wall Street's biggest bulls, is now the last major stock market bear standing following Morgan Stanley's revision yesterday. Kolanovic is keeping...

www.marketindex.com.au

 

[debtfree]

Market Index - Wednesday Evening Wrap

The S&P/ASX 200 closed 3.6 points lower, down 0.05%.

It was another quiet day on the surface with only a tiny loss by the close.
Resources stocks generally took a breather as so too did key base metals copper and nickel on the London Metals Exchange.
Still, there's usually something in this sector simmering up, and this time it was Alumina (AWC) which surged nearly 5% on a 3% gain in the Aluminium price, as well as a couple of prospering and uptrending lithium stocks in Vulcan Energy (VUL) and Latin Resources (LRS).
There was also plenty of news-specific toing and froing, with Webject (WEB) on the right side of investor favour while Telstra (TLS) and AP Eagers (APE) fell substantially foul of it.
Let's dive in!

Evening Wrap: ASX 200 dips slightly, bides time near record high as Telstra, Discretionary stocks drag

It was a quiet day - only a small loss for the S&P/ASX200. Resources stocks generally took a breather, but Alumina (AWC), Vulcan Energy (VUL), and Latin Resources (LRS) each did well. Webjet (WEB) was lauded for its market update, while Telstra (TLS) and AP Eagers (APE) were shunned for theirs.

www.marketindex.com.au

 

[debtfree]

Market Index - Thursday Morning Wrap

ASX 200 futures are down 74 points, to 7,796, at 8:40am AEST.

It was a massive night for overseas news. NVIDIA's latest quarterly earnings and forecast both shattered the consensus estimate, sending its shares past the US$1,000 mark for the first time. It also said it would lift its quarterly dividend by - get this - 150% (!) and commence a 10-for-1 stock split. It was a moment captured like this on CNBC:



But not to be outdone, BHP made a third offer for Anglo American - this time, valued at nearly $74 billion. Even more remarkably, Anglo American have given BHP just one week to Mike Henry's team to come up with a fourth offer.
What a time to be alive.
Let's dive in.

Morning Wrap: ASX 200 to fall, NVIDIA cracks $1,000 milestone and announces stock split, Anglo American knocks back third BHP offer

It was a massive night for overseas news. NVIDIA's latest quarterly earnings and forecast both shattered the consensus estimate, sending its shares past the US$1,000 mark for the first time. It also said it would lift its quarterly dividend by - get this - 150% (!) and commence a 10-for-1 stock...

www.marketindex.com.au

 

[Dona Ferentes]

Evening Wrap: ASX 200 sags on resources rout, nowhere to hide for copper, gold, nickel, lithium stocks

Aussie resources stocks paid the price for falls in commodity prices over the last 24 hours. Xero was good, however, as were a few other mostly defensive names. For the good, the bad, and the downright hobbled...

www.marketindex.com.au

 

[debtfree]

Market Index - Friday Morning Wrap

ASX 200 futures are down 83 points, to 7,759, at 8:10am AEST.

Last night proved that some people still stick to the old adage - they sell in May and go away (or in this case, sell before a May long weekend they have coming up). The Dow Jones recorded its worst day in nearly a year yesterday with all 30 components of that index closing in the red.
Hot services PMI data also did its bit to send US markets lower - the number printed above expectations to a 12-month high. Hot services PMI readings will indicate rate cuts are even further away than investors expect.
All this negativity has filtered through to ASX futures this morning - and there are no immediate corporate catalysts that can change that (for now).
Let's dive in.

Morning Wrap: ASX 200 to fall, US markets fall from record highs, Dow records worst day of 2024

It was a massive night for overseas news. NVIDIA's latest quarterly earnings and forecast both shattered the consensus estimate, sending its shares past the US$1,000 mark for the first time. It also said it would lift its quarterly dividend by - get this - 150% (!) and commence a 10-for-1 stock...

www.marketindex.com.au

 

[debtfree]

Market Index - Friday Evening Wrap

The S&P/ASX 200 closed 84.2 points lower, down 1.08%.

Last week's 65.4 point gain has been more than compensated for by this week's 86.8 decline.
Back to earth came base and precious metals stocks, and more specifically, today, the interest rate sensitives.
Ironically it was significantly better than expected data on the US economy which drove today's losses.
That's not a misprint, as in significantly better than expected.
But, as stupid as it sounds, a bunch of people who are a lot smarter than us, and who have more money than us interpreted this as bad because it might delay their cherished interest rate cuts. By about a whole month...
Anyways, I don't make people buy and sell they way they do so don't shoot the messenger...
Let's dive in!

Evening Wrap: ASX 200 slumps on US rates tantrum, mixed bag for miners as Sandfire Resources and 29Metals bounce back

Ironically it was significantly better than expected data on the US economy which drove today's losses. Discretionary, Real Estate and Tech stocks fell, but there were some winners in Energy (Woodside Energy), and Resources (Sandfire Resources and 29Metals).

www.marketindex.com.au

 

[debtfree]

Market Index - Monday Morning Wrap

ASX 200 futures are up 47 points, of 0.6%, at 8:10am AEST.

The Americans and the Europeans are on holidays so there is no clear lead at the moment for Australian shares. There is also no major corporate news to speak of at this point but tech stocks will be in focus given the NASDAQ hit another all-time high. In fact, at this point, the most significant release this week could be Australian monthly inflation on Wednesday (where economists currently forecast a print of around 3.4%).
Locally on the corporate front, Mesoblast and Smartpay are expected to release earnings. Dicker Data hosts an AGM. And Goldman Sachs has issued a fresh note, arguing the share price of Bendigo and Adelaide Bank is now fully valued following its trading update last week. It's kept its NEUTRAL rating and $10.51 target price despite this.
Let's dive in.

Morning Wrap: ASX 200 to rise, Rate cut bets ease, Bendigo Bank reiterated neutral at Goldmans

The Americans and the Europeans are on holidays so there is no clear lead at the moment for Australian shares. There is also no major corporate news to speak of at this point but tech stocks will be in focus given the NASDAQ hit another all-time high. In fact, at this point, the most significant...

www.marketindex.com.au

 

[debtfree]

Market Index - Monday Evening Wrap

The S&P/ASX 200 closed 60.7 points higher, up 0.79%.

A gain is a gain. 60.7 points. We'll take it.
Just try not to think about the fact those 60.7 points didn't recoup Friday's falls, nor anywhere near last week's total losses!
Gold stocks bounced back today, but were largely not joined by the rest of the Resources sector with iron ore, lithium, and uranium stocks generally suffering. Key copper stocks were nicely higher, though.
Beaten down Lendlease (LLC) got a boost on the announcement it's conceding defeat in its overseas operations, and Neuren Pharmaceuticals Ltd (NEU) soared on positive news a Phase 2 trial aimed at treating Pitt Hopkins syndrome showed "significant improvements".
Let's dive in!

Evening Wrap: ASX 200 notches gain as gold, copper stocks prosper. Lendlease up as concedes defeat, Neuren soars on trial success

Beaten down Lendlease (LLC) got a boost on the announcement it's conceding defeat in its overseas operations, and Neuren Pharmaceuticals Ltd (NEU) soared on positive news a Phase 2 trial aimed at treating Pitt Hopkins syndrome showed "significant improvements".

www.marketindex.com.au

 

[debtfree]

Market Index - Tuesday Morning Wrap

ASX 200 futures are trading 6 points higher, up 0.07% as of 8:20 am AEST.

European markets ticked higher on a quiet day for markets, with both UK and US markets closed. Overnight markets were buoyed by a clear signal from the European Central Bank that its ready to begin cutting rates.
Let's dive in.

Morning Wrap: ASX 200 to edge higher, US and UK markets closed + Gold, copper prices bounce

ASX 200 futures are trading 6 points higher, up 0.07% as of 8:20 am AEST.

www.marketindex.com.au