Australian (ASX) Stock Market Forum

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Market Index - Monday Evening Wrap

The S&P/ASX 200 closed 28.9 points lower, down 0.35%.

It was another day of very clearly delineated haves and have nots. “Have” sectors included those still basking in the warm afterglow of last week’s Trump + Red Sweep, plus those enjoying a continued but very modest dip in market yields in the USA on Friday.
“Have Not” sectors were generally those more exposed to Chinese economic growth as investors lamented China’s National People’s Congress Standing Committee's failure to wield a bazooka of fresh fiscal stimulus measures at their meeting over the weekend.
Click/scroll through for the usual reporting of the major sector and stock-specific moves, the broker responses to them, as well as all of the key upcoming economic data in tonight's Evening Wrap.
Let's dive in!

 
ASX 200 futures are trading 4 points higher, up 0.04%.

Major US benchmarks – The S&P 500, Dow and Nasdaq – all notched a fresh all-time high overnight while the path of least resistance continues to be higher, gold prices smashed overnight as Trump's victory has prompted massive outflows from gold-backed ETFs, commodity prices continue to dwindle after China's disappointing stimulus announcement
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The S&P/ASX 200 closed 10.6 points lower, down 0.13%

Evening Wrap: ASX 200 dips as commodities, gold bloodbath continues...Paladin hobbles uranium but lithium stocks rejoice price recovery..​

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ASX 200 futures are trading 81 points lower, down 0.98%.

Major US benchmarks finished lower as rising bond yields start to become a cause for concern as well as fading post-election momentum,
- China and European economies face growing challenges,
- commodity prices and resource stocks continued to slump overnight and
- James Hardie reports a solid Q2 result but disappointing full-year guidance.
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The S&P/ASX 200 closed 62.2 points lower, down 0.75%.

A modest unwinding of the Trump Trade that has so dominated local market proceedings over the last week saw some capital pull back from sectors like Technology, Financials, and more generally, those companies with a large portion of US-based earnings.
Alas, this did not mean this capital flowed back toward sectors that are seen to be major losers from the Trump Trade, like Resources and Energy. They were down again.
 

ASX 200 gains as tech and banks prosper, Pilbara Minerals helps break ASX lithium's long drought..

The S&P/ASX 200 closed 30.6 points higher, up 0.37%.
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