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Market Index - Monday Morning Wrap

ASX 200 futures are trading 28 points higher, up 0.40% as of 8:20 am AEST.

Major US benchmarks were higher for the week, driven by solid earnings from Alphabet and Microsoft, Fed rate cut expectations have bow been pushed out to December and the Yen is trading at levels not seen since the 1990s.
BHP is set to make a revised offer for Anglo American, copper stocks are set to climb again as prices for the underlying commodity tick higher and Tasmea is set to list at 11:00 am.
Let's dive in.

Morning Wrap: ASX 200 to bounce, S&P 500 rallies on Microsoft and Alphabet earnings

ASX 200 futures are trading 28 points higher, up 0.40% as of 8:20 am AEST.
www.marketindex.com.au
 
Market Index - Monday Evening Wrap

The S&P/ASX 200 closed 61.5 points higher, up 0.81%.

Copper and uranium stocks were boosted today on a combination of well received quarterly updates and modest price gains in their respective underlying commodities (copper to closing at 1 year highs on Friday on the London Metals Exchange).
But, it's lithium stocks which are to be watched closely going forward as a key lithium contract in China surged over 5% ahead of the upcoming May Day holiday later this week. We check the chart, and it shows this was an important move – big, and on large volume.
Outside of the usual gyrations in commodity stocks, Real Estate, Technology and Communications stocks topped the sector performance list, while Energy lagged behind.
Let's dive in!

Evening Wrap: ASX 200 bounces as copper and uranium stocks soar, plus lithium's big day out

Copper and uranium stocks soared on a combination of well received quarterly updates and modest price gains in their underlying commodities (copper to 1 year highs). But lithium stocks are to be watched closely as a key lithium contract in China surged ahead of the upcoming May Day holiday later...
www.marketindex.com.au
 
and this morning's Fresh take

Morning Wrap: ASX 200 to rise, Fed Meeting and Big Tech earnings in focus

Major US benchmarks spent the day drifting along until news broke late yesterday afternoon that Paramount CEO Bob Bakish would be stepping down. Markets dropped like a stone then more than recovered their losses. Now, all attention turns to the earnings of two huge names - Amazon (NASDAQ: AMZN)...
www.marketindex.com.au
 
Market Index - Tuesday Evening Wrap

The S&P/ASX 200 closed 26.7 points higher, up 0.35%.

In the absence of anything really bad happening in the last 24 hours, stocks drifted higher. I'm not complaining, I love the peace and quiet of a modest gain, but I note there were more stocks that fell than rose today and that's hardly a sign of a healthy market.
Talking about healthy, interest rate sensitive stocks like real estate and consumer discretionary were the best today (despite some terrible retail sales data for the latter), likely a result of market rates continuing to come off the boil.
Lithium stocks were also a bright spot as investors responded to yesterday's big jump in lithium carbonate futures in China (but ignored its decline today!).
The charts of both gold and silver are pulling back to respective key support points. Will they hold or will they break? Clearly, investors didn't want to wait around to find out, as they pared back holdings of gold stocks today.
Let's dive in!

Evening Wrap: ASX 200 creeps higher despite retail sales plunge, lithium pops, gold stops

Lithium stocks were also a bright spot as investors responded to yesterday's big jump in lithium carbonate futures in China. Risk was taken off the table in the gold sector.
www.marketindex.com.au
 
Market Index - Wednesday Morning Wrap

ASX 200 futures are trading 92 points lower, as of 8:20 am AEST.

It was bound to happen. After five months of consistent gains to end 2023 and start 2024, the US equity market recorded a month of losses. A combination of mixed earnings, concerns over the Fed's next move, and rapidly changing market sentiment sent stocks lower yesterday. 2-Year yields hit the highest since November, and are back over the psychologically important 5% level.
On the earnings front - Amazon's AWS business reported its best revenue growth in a year while Pinterest shares surged more than 20% following its earnings beat. On the downside, Starbucks' Q1 results and guidance left a bitter aftertaste in its shareholders' mouths while chip maker AMD reported a near-50% drop in gaming revenues.
Let's dive in.

Morning Wrap: ASX 200 to fall sharply, US stocks record worst month in 5 months

US stock markets sank in the final stretch of April and bond yields climbed on concern that stubborn inflation will force the Federal Reserve to keep interest rates higher for longer. Amazon reported better than expected earnings while AMD, Starbucks, and McDonald's all received less-than-ideal...
www.marketindex.com.au
 
Market Index - Thursday Morning Wrap

ASX 200 futures are trading 5 points lower, as of 8:20 am AEST.

The money line from this morning's Federal Reserve post-meeting press conference, one where it held rates steady unanimously, is this:
So far this year, the data have not given us that greater confidence in particular. It is likely that gaining such greater confidence will take longer than previously expected.
Click to expand...
Fed Chair Jerome Powell also flat out said that he thinks it's "unlikely" the next rate move will be a hike. That gave stock and bond markets a chance for a relief rally. But as we've also learned in recent times, talking about rate cuts too early and when you're not fully ready to pivot does have its consequences.
Let's dive in.

Morning Wrap: ASX 200 to fall, Fed Chair Powell says the next move is "unlikely" to be a hike

The world’s biggest bond market surged as Jerome Powell downplayed the possibility of rate hikes and the Federal Reserve said it will shrink its balance sheet at a slower pace to ease strains in money markets. At one point, markets were headed for their biggest cross-asset surge on a Fed day...
www.marketindex.com.au
 
Market Index - Thursday Evening Wrap

The S&P/ASX 200 closed 17.1 points higher, up 0.23%.

It appeared to be a quiet day for the S&P/ASX200, but there was plenty going on under the surface.
This time of the year is notorious for third quarter updates as well as company's looking to massage market expectations (read as coming clean on poor performance) ahead of end of financial year reporting.
Today, Bapcorp (ASX: BAP) (-24%) got bapped, and Woolworths Group (ASX: WOW) (-4.2%) got, um, woolied? Either way, each was belted on the back of worse than expected trading updates.
Gold stocks bounced back, but really only very mildly from two days of their own beltings, and uranium stocks continued their winning ways. For everything bubbling beneath the surface of today's trade...
Let's dive in!

Evening Wrap: ASX 200 edges higher despite consumer stocks chaos as Bapcor and Woolies belted

Bapcorp (ASX: BAP) (-24%) and Woolworths Group (ASX: WOW) (-4.2%) were belted on the back of worse than expected trading updates. Gold stocks bounced back and uranium stocks continued their winning ways.
www.marketindex.com.au
 
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Market Index - Friday Morning Wrap

ASX 200 futures are up 35 points, or +0.45%, as of 8:25am AEST.

After two days of losses, the US market was back to its winning ways overnight led by Apple, which posted stronger-than-expected sales last quarter. Revenue fell but not by as much as the company had flagged analysts while profit also beat expectations.
On the home front, the shares of Macquarie Group will be in focus after it reported a 32% fall in year-over-year profits (not that $3.52 billion is anything to sneeze at).
  • H2 FY24 net profit +49% vs H1 FY24
  • International income is 66% of FY24 total income
  • AUM +7% year-over-year to $938.3 billion
  • Return on Equity (ROE) of 10.8%, well down from 16.9% in FY23
  • Final ordinary dividend of $3.85 per share, total full year payout of $6.40 per share
Let's dive in.

Morning Wrap: ASX 200 to rise, Apple declares record buyback, Macquarie reports 32% year-on-year profit fall

ASX 200 futures are up 35 points, or +0.45%, as of 8:25am AEST.
www.marketindex.com.au
 
Market Index - Friday Evening Wrap

The S&P/ASX 200 closed 42.0 points higher, up 0.55%.

It was a solid close to a topsy-turvy week of trading on the S&P/ASX200. The day's gain and the week's gain – as unlikely at that might have seemed a few times during the week – will be warmly welcomed by Aussie investors.
It could have been far, far worse.
The pressure that had been applied by ratcheting higher market interest rates finally boiled over Thursday and Friday, helping interest rate sensitive sectors like Discretionary, Property, and Technology.
There were even greater highlights, though, particularly in lithium and uranium stocks which logged stellar gains.
This could not be said for gold stocks, which like the price of the commodity itself this week, experienced an abrupt about face in fortunes.
Let's dive in!

Evening Wrap: ASX 200 closes tough week on firmer footing, lithium and uranium stocks surge as gold slides again

There were solid gains among lithium and uranium stocks. This could not be said for gold stocks, which like the price of the commodity itself this week, have experienced an abrupt about face in fortunes.
www.marketindex.com.au
 
Market Index - Monday Evening Wrap

The S&P/ASX 200 closed 53.4 points higher, up 0.70%.

The S&P/ASX 200 enjoyed another solid day of gains, and at three in a row now, perhaps some semblance of stability has returned.
Largely, this new stability is a result of a pullback in market rates, and it will only remain as long as those rates continue to subside. It's no surprise then that the best performing sectors today were the interest rate sensitives.
Today's special mention goes to Aussie uranium stocks which just keep on keeping on after last weeks news the US Senate had passed a bill to ban imports of Russian uranium products.
Let's dive in!

Evening Wrap: ASX 200 logs gains three in a row as market rates ease, uranium stocks keep rising

Today's special mention goes to Aussie uranium stocks which just keep on keeping on after last weeks news the US Senate had passed a bill to ban imports of Russian uranium products.
www.marketindex.com.au
 
Market Index - Tuesday Morning Wrap

ASX 200 futures are up 38 points, or +0.49%, as of 8:20am AEST.

Apart from the latest RBA monetary policy decision, which will be handed down this afternoon, it's actually quite a busy day on the corporate front. The next big bank (ANZ) has already handed down its half-yearly numbers, declaring an 83 cent per share dividend and initiating a $2 billion buyback. You can find more of these numbers later in the Wrap.
Later today, Coronado Global Resources will hand down its quarterly result while G8 Education and Iluka Resources will hold AGMs. Finally, the first major bank to report - the NAB - trades ex-dividend.
And that's before we discuss the latest geopolitical developments. Israel began hitting targets in the city of Rafah, despite Hamas accepting a proposal to pause the fighting. Israel says the proposal for peace remains "far from its necessary requirements."
Let's dive in.

Morning Wrap: ASX 200 to rise, ANZ to buy back $2bn in shares, RBA in focus

Apart from the latest RBA monetary policy decision, which will be handed down this afternoon, it's actually quite a busy day on the corporate front. The next big bank (ANZ) has already handed down its half-yearly numbers, declaring an 83 cent per share dividend and initiating a $2 billion...
www.marketindex.com.au
 
Market Index - Tuesday Evening Wrap

The S&P/ASX 200 closed 110.9 points higher, up 1.44%.

Sell in May and go away?
Historically, this hasn't been a crazy thing for investors to do. Today's stonking gain could be the start of the rally that presents you with the big opportunity to do just that – so you might want to pay extra special attention from here.
The RBA spared the rod (and spoiled us children), and Uranium stocks had a ripper day...again!
Let's dive in!

Evening Wrap: ASX 200 soars on global risk-on, lack of big stick from RBA, uranium stocks rip again

Utilities, Gold, Consumer Discretionary and uranium stocks were the best performers on the ASX today as the benchmark soared towards record highs. But, are we just getting closer to a chance to sell in May and go away?
www.marketindex.com.au
 
Market Index - Wednesday Morning Wrap

ASX 200 futures are up 14 points, or +0.17%, as of 8:20am AEST.

The RBA held rates yesterday and it's still not ruling anything in or out. But that wasn't the only major story to break late yesterday. The Financial Review is now reporting that Perpetual will be broken up and its name will be sold to American firm KKR. Wall Street finished the overnight session barely higher and we are awaiting results from Arcadium Lithium, Goodman Group, and Virgin Money UK.
Let's dive in.

Morning Wrap: ASX 200 to rise, Arcadium and Goodman Group to report earnings, Perpetual to be broken up

Australian shares are poised to edge higher. While Wall Street struggled, the S&P 500 ended the day 0.1 per cent higher, extending its rally to a fourth day. The Dow edged up and the Nasdaq slipped. Investors continue to debate the outlook for US interest rates with hope for a pivot to cuts...
www.marketindex.com.au
 


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