A new day, week and month; it took a while for the local market to wake-up. Despite the sluggish start, the ASX200 managed to add 0.69% for the session, to close at 6993. A mix of healthcare, telcos, utilities and energy underpinned the gains. Defensive stocks are enjoying the benefits of the recent move lower in bond yields. Energy followed the lead of its US counterparts after strong results from the likes of Chevron and Exxon Mobil on Friday night. Chinese PMI data confirmed sputtering econom...
Aug 01, 2022•9 min•Season 3Ep. 128
Happy days. Happy week and month, actually. The local market closed 0.81% higher for the day, taking the weekly and monthly gain to 2.3% and 3.6% respectively. It was a broad-based rally again, too. All bar the healthcare sector finished in positive territory - but it was only down 0.06%. The drop in global yields after weaker than expected US GDP data supported rate sensitive areas of our stock market. Utilities were 2.5% higher, while real estate closed just shy of a 3% gain. The gold miners w...
Jul 29, 2022•10 min•Season 3Ep. 127
The Fed did what it was expected to and global markets rejoiced. Wall Street soared - and that set up the ASX200 for its 0.97% gain today. It was a broad-based rally and cyclicals led the charge. Materials, energy and financials surged. The defensive utilities and health-care sectors lagged. On the corporate front, Rio Tinto brushed off early losses after reporting overnight. Meanwhile, Macquaries shares gained 3% following its Q1 update, with strong revenues driven by its markets division. At t...
Jul 28, 2022•14 min•Season 3Ep. 126
Another choppy session for the ASX200, which has managed to hold up despite the deluge of US earnings and macroeconomic event risk. The local bourse closed near the highs of the session at 6823 for a 0.23% gain. The rise was underpinned by a mix of healthcare, industrials and financials. Consumer stocks also bounced back after a small rinsing yesterday. On the flip side, the materials sector was a weight on the market and the biggest laggard for the session. Zip Co shares continued to defy the o...
Jul 27, 2022•15 min•Season 3Ep. 125
Another listless day on the market as investors opt to stay out of the fray ahead of major corporate and economic events domestically and abroad. The ASX200 closed 0.26% higher, with a jump in energy and materials stocks the main drivers behind the gains. The iron ore majors have stabilised as the price of the commodity rights itself. Reports that Russian gas giant Gazprom is cutting exports to Europe boosted gas and oil prices last night and supported the energy players in our market. Consumer ...
Jul 26, 2022•14 min•Season 1Ep. 124
Flat as a tack. That’s what the local market was today. Investors face a deluge of information this week – on the corporate and economic front, both domestically and abroad. So - the ASX200 closed a paltry 0.02% lower. Materials lifted, so did utilities. A drop in the NASDAQ after poor tech earnings on Friday pushed our tech sector down 1.5%. Healthcare also dropped 1%. Quarterly results and updates are dripping into the market. Oz Minerals downgraded its copper and gold production guidance, as ...
Jul 25, 2022•11 min•Season 1Ep. 123
Our top three VODs: Domino’s primed for a FY23 rebound? Finding value in the lithium space Gray's anatomy of Zip's Q4 results Hosted on Acast. See acast.com/privacy for more information....
Jul 22, 2022•10 min•Season 3Ep. 122
Cautious consolidation following Wednesday’s big gains. Who could blame investors with major central bank and earnings events on the horizon? The S&P/ASX 200 traded around breakeven for most of the session before drifting higher into the close, seeing the benchmark climb 0.52% to 6794.3. It was a mixed performance across the sectors with technology again leading the way with an increase of 3.2%. Other long duration sectors fared well with healthcare and communications adding 1.6% and 2.1% re...
Jul 21, 2022•12 min•Season 3Ep. 121
Boom! That was the biggest increase since June with every sector closing higher. It was a barbell bonanza with materials and technology leading the charge higher, surging 2.5% and 3.8% respectively. Not to be outdone, financials, energy, consumer discretionary, communications, utilities and REITs lifting between 1.4% to 2.2%. Safe havens were clearly not required, reflected in the underperformance of healthcare and consumer staples. They “only” added 0.8% and 0.4% respectively. It was that kind ...
Jul 20, 2022•13 min•Season 3Ep. 120
Early gains evaporated quickly, mirroring the performance on Wall Street overnight. It was a turnaround Tuesday, just not in a good way. The S&P/ASX 200 fell 0.56% to 6649.6, giving back some of Monday’s gains. It feels like we’re stuck in a perpetual game of snakes and ladders where the only winner are day traders. It was a uniformly soggy performance with every sector aside from energy and utilities finishing lower. Healthcare and technology were belted, tumbling 2.3% and 2.9% respectively...
Jul 19, 2022•9 min•Season 3Ep. 119
A big rally to start the week, reversing Friday’s losses. Hopes that US inflation may have peaked, optimism surrounding a turnaround for Chinese property developers and M&A activity locally largely explaining the green on screen. Most sectors posted strong gains, led by technology, energy, materials and financials which rose more than 1.4%. Consumer staples, healthcare and utilities underperformed, reflecting an easing of investor risk aversion. Keeping with the broader turnaround story, man...
Jul 18, 2022•12 min•Season 3Ep. 118
A soft end to a soft week as concerns over the health of China’s property sector flared again. Selling across the resources sector was brutal, mirroring the moves in commodity futures. It didn’t matter if they were big or small, diversified or pureplay: almost everything was hammered. BHP, Fortescue and Rio Tinto fell 3.8%, 5.9%, and 2.6% respectively, the latter outperforming following the release of its quarterly production report. Second-tier names were hit even harder with the likes of IGO, ...
Jul 15, 2022•12 min•Season 3Ep. 117
Another quiet session with stocks drifting higher throughout the session. With so many major macro events over the past 24 hours, there was an obvious sense of relief there was no further increase in market volatility. Sentiment may have been assisted by the release another stellar jobs report locally, along with gains across other Asian markets. Underneath the surface, most sectors posted solid gains. Reflecting moves in US and Chinese markets, the tech sector outperformed with an increase of 2...
Jul 14, 2022•10 min•Season 3Ep. 116
Another session characterised by caution with investors unwilling to move too far in either direction with so many risk events ahead. Most sectors eked out modest gains, led by communications, technology, industrials and consumer discretionary which rose more than 1.2%. REITs rose 0.8% while financials chimed in with an increase of 0.7%. Offsetting those moves, materials and energy continued to underperform on mounting global recession fears, falling 0.6% and 1.8% respectively. Utilities also to...
Jul 13, 2022•10 min•Season 3Ep. 115
Another day, another underwhelming performance. COVID outbreaks in China. US earnings risks. Hot inflation persisting – they’re all contributing to investor caution and choppy price action as liquidity dries up. That was evident across the sectors today with an even split between winners and losers. Healthcare, consumer staples and utilities rose more than 1%. Financials climbed 0.7% while energy added another 0.2%. At the individual level, Zip topped the leader board, jumping 5.6% after scupper...
Jul 12, 2022•12 min•Season 3Ep. 114
A session that started with so much promised ended yet again in disappointment, weighed down by steep falls in the miners. Enthusiasm towards the prospect for faster infrastructure investment in China fizzled as fast as it arrived, replaced by renewed concerns over commodity demand amidst fresh covid outbreaks. The materials sector slumped 2.8%, giving back some of the gains achieved late last week. The iron ore majors eased between 1.7% to 2.6%. BHP was hit hardest on fresh legal threats from t...
Jul 11, 2022•11 min•Season 3Ep. 113
Friday well and truly lived up to its 'buy' day reputation. Finishing a solid week, with the S&P/ASX 200 up 0.45% to close at 6678. The materials stacked up again, rising 1.2% on the back of reports China is considering ramping up debt issuance to facilitate increased infrastructure investment. And, after a brutal unwind earlier in the week, big energy was purring once again, helping the broader sector gain 2.1%. Battery material names such as Pilbara Minerals, Novonix, and Liontown Resource...
Jul 08, 2022•9 min•Season 3Ep. 112
Take yesterday’s scoreboard and turn it upside down. Because when it comes to today’s session, it was almost the opposite. Energy’s struggles continued, finishing the day flat after recording the largest daily decline in over two years a session earlier. There was no reaction to data showing Australia logged its largest trade surplus on record in May, helped by booming coal and LNG prices. Every other sector except financials and consumer discretionary finished lower, the steepest declines comin...
Jul 07, 2022•9 min•Season 3Ep. 111
A bifurcated session for the local market, characterised by a bloodbath in the sectors that outperformed earlier this year. Miners and energy producers were taken to the woodshed and chopped up, succumbing to recession fears that have roiled so many other cyclical assets recently. The declines were brutal with South32, Sandfire Resources, Coronado Global Resources Champion Iron and St Barbara tumbling more than 8%. Even the biggest and best didn’t escape the carnage with Rio Tinto shedding 7.4%,...
Jul 06, 2022•12 min•Season 3Ep. 110
Two-for-two to start the week although volumes were once again poor. Despite delivering another 50 basis point hike, the RBA’s assertion that rates are no longer low boosted sentiment at the margin. But let’s not kid ourselves. Reporting season is just around the corner and half the country seems to be on holidays, so things are little slower than usual. The lack of liquidity could explain the continued renaissance seen across last year’s laggards with Brainchip, Life360, WiseTech, ZIP and City ...
Jul 05, 2022•11 min•Season 3Ep. 109
Banks and miners helped the local market snap a three day losing streak, even as investors eye a likely 50 basis point rate hike from the RBA tomorrow. The S&P/ASX200 closed the session off its highs, but put on a respectable 1.1% to 6,613. All 11 sectors ended higher with energy the best performer +2.6%, and materials +0.5% despite Dailan iron ore futures extending losses to a third session. It was a fairly quiet day for corporate news, though Link Administration rejected Dye & Durham's...
Jul 04, 2022•12 min•Season 3Ep. 108
Local stocks limped into the weekend, delivering a lacklustre start to the new financial year. The Aussie dollar fared worse, tumbling to two-year lows. Large caps held the broader market back with materials and energy sliding 1.6% and 3.1% respectively. Industrials, utilities and REITs led the way, posting gains of more than 1.6%. All other sectors rose between 0.2% and 0.9%. Brambles rose 2.9% after ditching plans to pursue plastic pallets. Shipbuilder Austal jumped 25.4% after winning a monst...
Jul 01, 2022•11 min•Season 3Ep. 107
It was a soggy end to what’s been a soggy month, quarter, half and year. Rather than farewell, good riddance seems a more appropriate way to send off the financial year. Fittingly, losses were widespread. Be they small or large, cyclical or growth, everything was given the treatment. Utilities, energy, materials and financials led the losses, though over the first half energy stocks rose more than 30%. The S&P/ASX 200 finished at its lows, tumbling 132 points, or 1.97%, to close 6568. For Ju...
Jun 30, 2022•16 min•Season 3Ep. 106
Bear market bounce? Winning streak? Whatever it was, it’s over with the benchmark index putting in a soggy hump day performance, mirroring that of the broader region. Most sectors finished in the red. There was some offset with financials, energy and staples adding between 0.1% to 0.3%. While there was no rhyme or reason to explain the sectorial performance, there was a clear tilt towards quality with the S&P/ASX 20 easing 0.4% while the S&P Small Ordinaries tumbled 2.7%. The larger they...
Jun 29, 2022•13 min•Season 3Ep. 105
Make that four on the trot. But keep the champagne on ice. Unusual price action often occurs ahead of financial year end. Two days to go. Having been marked down heavily in recent weeks, materials and energy returned to do the heavy lifting, rising 3% and 3.6% respectively. The utility sector also had a good day, chiming in with a gain of 3.2%. Despite a lift in bond yields, REITs added 1%. To the downside, consumer discretionary was the laggard, sliding 1.3%. The big banks were weaker, dragging...
Jun 28, 2022•9 min•Season 3Ep. 105
The local market picked up where it left off last week, logging its largest gain since January. That’s three positive days on the trot for those counting at home. Gains were evenly distributed, led by financials, energy, consumer discretionary and information technology which climbed by more than 2% apiece. Every sector finished higher. There was also no discernible difference between the performance of small and large caps. Put simply, apart from the gold sector, almost everything rallied in un...
Jun 27, 2022•12 min•Season 3Ep. 104
After a momentary lapse last week, Friday was once again buy-day for local investors. Back-to-back gains for the benchmark – we haven’t been seen that since May. While the index gains weren’t electric, they were for lithium plays with corporate activity, short-covering and bargain hunting helping to spur mammoth gains. Unsurprisingly, the energy sector was the session laggard, sliding 1.5%. Despite the heroics from the lithium names, materials eased 0.15%, weighed down by the iron ore majors. Fi...
Jun 24, 2022•10 min•Season 3Ep. 103
A quiet, cautious session that ended with modest gains. But after the carnage we’ve seen recently, we’ll bank it. Most sectors finished higher, led by REITS, healthcare, staples and tech which added more than 1.5%. A big rally in bonds, seeing 10-year Aussie yields slice through 4% like a hot knife through butter, contributed to strength in long duration names. Lake Resources tumbled another 16.7%, seeing it halve in value since being admitted to Australia’s benchmark share index last week. The ...
Jun 23, 2022•12 min•Season 3Ep. 102
A session that started with so promise ended yet again in disappointment. While Aussie equities may not be in a bear market, it certainly feels like one. Unlike previous days when there was a clear thematic evident, there was no real rhyme or reason when it came to sector performance. Industrials, materials, REITS, financials, consumer discretionary and tech finished lower, the largest losses seen in the latter two with falls of more than 1.4%. The S&P/ASX 200 eased 0.23%, falling 18.5 point...
Jun 22, 2022•13 min•Season 3Ep. 101
Call it Turnaround Tuesday! After a horror week last week and 7-successive days of declines, the ASX bounced today, recording a 1.4% gain. A bounce in cyclicals drove the gains. After taking a bath yesterday, materials and energy stocks gained 1.6% and 2.8%, respectively. Financials also added 2.6% and consumer stocks pushed higher. As far as top performers go, PointsBet jumped 7.8%, adding to Monday’s rally following news of a share placement scheme by SIG Sports Investment Corp. Uranium play P...
Jun 21, 2022•14 min•Season 3Ep. 101
