The gloves are off 🧤

Glancing at the open and close, it looked like a nothing trading day in aggregate. Lurking under the hood was the rebound of Aussie tech, looking at you BNPL. After zero love in recent weeks tech followed the Nasdaq higher, with SQ2 (Block) surging to top the ASX200 ladder for most of the session before ARB pushed in to close 8% higher. Z1P not far behind, closing over 7% higher. Blue chips were the underperformers with banks, consumer staples and miners all a sea of red. Macro event risk is heavy with a trio of RBA-speak and a data deluge, and reporting season starts in earnest, hot on the heels of confession season and quarterly updates. Ansell is sitting at the bottom of the ASX200 ladder, the market not liking supply constraints and compressed margins, closing down over 13%. A mid-afternoon rally couldn’t hold, and the S&P/ASX200 closed down 16 points or -0.2%.

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