Closing Bell 8th November: ASX Rebounds Midday, Tech Rises as Miners Stumble Amidst Global Commodity Dip
ASX recovers with tech stocks rallying, despite mining giants’ fall due to weak Chinese data and a global decline in commodity prices.
Alpha Portfolio Recommendation: Buy – Crude Oil ETF (OOO)
The Biden administration has flagged $79bl as a point where the US will top up their strategic reserves, we see crude oil here at $77 good value and risk/reward
Closing Bell 7th November: RBA Raises Cash Rate to 4.35% Amid Inflation Concerns
The Reserve Bank of Australia has increased the cash rate by 25 basis points, aiming to curb persistent inflation and stabilize economic growth.
Alpha Portfolio Recommendation: Sell – Australian Dollar AUD
The Reserve Bank of Australia (RBA) has increased the cash rate target by 25 basis points to 4.35%, alongside a similar increase for the interest rate on Exchange Settlement balances, in response to persistent inflation that, while past its peak, remains too high. After the RBA hike rates by 25 bps on Tuesday, the language was fairly cautious causing the the AUD to sell off against the USD.
Closing Bell 6th November: Investors rally behind ASX tech amidst economic optimism
ASX’s tech stocks are on a tear today, leading the charge as rate hike jitters take a back seat. Investors, it’s time to buckle up for a tech-tastic ride.
Weekend Edition: 3rd November 2023
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Closing Bell 2nd November: Uncertainty Looms Despite ASX Gains, as Future Rate Hikes Remain Possible
Jerome Powell’s words echo across global markets, with ASX sectors reacting to potential future rate adjustments.
Closing Bell 1st November: Miners Shine as Banks Soften and Investors Eye Federal Reserve’s Next Move
ASX sees a glimmer of recovery, echoing Wall Street’s optimism. Mining giants like Rio Tinto and Fortescue light up the market with notable gains. vestors hold their breath, awaiting insights from the Federal Reserve policy statement.
Closing Bell 31th October: Interest Rate Speculations and Global Events Steer ASX Movements
The RBA’s anticipated stance on interest rates remained a focal point for investors and market strategies.
Closing Bell 30th October: Banking and Energy Sectors Stumble as ASX Navigates Conflict Shadows
The ASX sees banking and energy sectors falter under the weight of global conflicts, while gold miners and tech stocks offer a refuge for investors.
Closing Bell 27th October: Contact Energy and Champion Iron Lead the Charge
Today’s market saw a surge of energy, with Contact Energy Ltd and Champion Iron Ltd powering through, boasting gains of 7.09% and 6.78%, respectively. Investors felt the warmth as these companies illuminated the path towards substantial market profits.
Alpha Portfolio Recommendation: Sell – ResMed Inc (RMD)
A positive surprise is anticipated in today’s quarterly earnings report, and historical reporting has been strong. Currently, the stock is undervalued, making it an opportune time to invest in this stock.