The theory of thing 🦠

The local market ignored the positive SPI lead and opened lower, and remained under pressure throughout the session. The Nasdaq surged on the as-expected FOMC news overnight, and after an afternoon lull our tech sector managed to close up nearly 1%. Corporate news was top shelf, with CSL completing its $6.3 billion equity raise, Qantas flagged a $1bn interim loss, and IGO confirmed to buy Western Areas, the latter closing up 5%. The top of the ASX200 tree was Mesoblast, up 12%, but is a yo-yo stock price at the best of times. Oh, and the jobless rate plunged to 4.6%, confirming that the clock is ticking on the RBA’s rate hike patience. CBA celebrated by lifting fixed home loan rates. All in all - after super Thursday - the ASX200 closed down 31 points or -0.4%.

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CMC Markets is buying the dip on these three ASX stocks

A healthy dose of M&A

A masterclass on false breaks, broadening tops and why volume matters | the trade

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