Investors ignored multi-month highs in US treasuries, with their eyes firmly fixed on the approaching MAG7 earnings and a busy week of top-tier economic data and quarter earnings including from big tech.
Balanced Portfolio Rebalance – Sell WDS, Trim TLX & BUY Wisetech WTC
Equities were mixed with the Nasdaq closing higher Friday, after hitting an intraday high as tech stocks continued to make gains as investors piled into high flying tech stocks ahead of a key week of earnings next week.
A wrap of the week in markets from the boys at MPC Markets.
We cover stocks, politics, opportunities on the ASX and geopolitics
Stocks snapped a three-day losing streak overnight, as Tesla soared 22%, racking up its best day in over decade following the electric vehicle maker’s better-than-expected quarterly results.
Despite Tesla impressing the market after the bell, stocks finally succumbed to rising Treasury yields putting pressure on megacap stocks, as investor confidence waned regarding significant rate cuts from the Federal Reserve.
The Australian sharemarket tumbled on Tuesday, with the S&P/ASX 200 Index falling 1.4%, or 226.4 points, to 8228 by midday, following a sell-off across all sectors.
Sell Ampol (ALD) to BUY Woolworths (WOW)
Precious metals continued their bull run overnight as stocks ended slightly lower, recovering the bulk of losses as traders weighed rising Treasury yields and mixed slate of quarterly corporate earnings.
Take Profit NST & Silver to Precious Metals Basket (ETPMPM)
The recent run in gold and silver prices are currently up the most YTD in decades.
Platinum and Palladium have lagged and should help this ETF higher
Treasury yields climbed overnight, capping gains in equities, as Fed speakers continue to echo the need for more gradual pace of rate cuts while silver surged to 12-year highs as BRICS conference kicks off today
Findi provides bespoke payments services for one of the world’s largest developing markets, India. While being part of the digital banking revolution where Findi has banking without banks, payments without cards and customers able to transact in a fast and flexible way from any location
