Markets

The Aussie market is holding onto slim gains at lunch with improvements for healthcare, materials and IT offsetting declines among the banks, staples and energy. Westpac (WBC) is the largest individual weight after it decided to scrap its interim dividend at a Q3 update while Cochlear (COH is jumping on its FY20 profit release.

Technology led the way. Shares in chipmaker Nvidia rose 6.7% after two analysts raised price targets on the stock. So-called ‘stay at home stocks’ continued to rise, including Amazon (up 1.1%).

The Aussie market has started the week in the red as banks weighed heavily on the ASX 200. The index fell 50 points or 0.8% to 6,076 with the big four contributing ~40% of the top 200 declines. Companies reporting profit results were also among the big movers with JB Hi-Fi (JBH) and Beach Energy (BPT) well supported on FY20 earnings.

Losses among the major lenders are weighing on the ASX 200 at lunch. The index is back below 6,100 with losses across the majority of sectors led by financials.

While retail sales in July fell short of forecasts, production met expectations. Shares in chip maker Applied Materials rose 3.9% after it forecast fourth-quarter revenue above analyst estimates. The Dow Jones index rose by 34 points or 0.1%.

The Australian sharemarket improved for the first time in three days, closing in on Tuesday’s two-month high and remaining just 1.2% away from the best levels in five months.

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The ASX 200 is trading near the highs of the morning and is 28 points or 0.46% higher at 6,119. It was up 34pts or 0.55% at the best levels of the morning.

Investors mulled the stalemate in Washington stimulus negotiations and digested the better-than-expected jobs data.

Local shares have fallen for a second successive session with the ASX 200 down 41pts or 0.67% to 6,091. Losses were rather broad based led by communications & utilities.

The Aussie market has reversed early gains as the ASX 200 falls back below 6,100. Banks are acting as a major drag while the first real busy day of the reporting season has thrown up a number of surprise results to both the upside and downside.

Investors were encouraged by data showing higher consumer prices, suggestive of a firmer economy. Shares in Tesla jumped 13.1% as it announced a five-for-one stock split. Investors are awaiting a deal being agreed by US Congress on a job support package. The Dow Jones index gained 290 points or 1.1%; the S&P500 index rose 1.4% to just short of a record closing high, and the Nasdaq index rose by 229 points or 2.1%.

The Aussie market has snapped its winning run to start the week. The ASX 200 dipped 6.7 points or 0.11% to 6,132 as losses for miners were mostly offset by gains for financial stocks. While a number of the major lenders helped drive broader gains, Commonwealth Bank (CBA) slipped 0.5% on the release of its FY20 profit result.

The Aussie market is lower at lunch with miners leading broad losses. Financials are outperforming with three of the big 4 banks trading higher, Commonwealth Bank (CBA) is falling after releasing FY20 profit results.

The Dow Jones and S&P500 indexes rose earlier in the trading session on news of Russia’s potential coronavirus vaccine. US President Trump’s announcement on Monday that he’s considering a capital gains tax cut had also boosted sentiment. But shares lost momentum in afternoon trade after US Senator Mitch McConnell said virus stimulus talks had hit a stalemate. And profit-taking continued in mega tech names with Apple (-3%) and Netflix (-3.4%) shares both down. The Dow Jones index fell by 104 points or 0.4% and the S&P500 index lost 0.8% -the first declines in 8 trading sessions. And the Nasdaq index fell by 185 points or 1.7%.

The Aussie market has notched back-to-back gains for the first time in roughly five weeks with the ASX 200 advancing 29 points or 0.5% to 6,139. Banks were again a major driver for improvements while travel stocks also lifted.

The Aussie market is adding to Monday’s strong gains with the ASX 200 at the best levels in 2 months. It is another day of broad gains so far with financials leading improvements. Only the tech sector is in decline as all other sectors lift.

There are hopes that Congress can settle on a job relief package. On Saturday US President Donald Trump signed executive orders and memorandums aimed at unemployment benefits & payroll taxes until the more concrete stimulus bill could be passed.

There were some big gains for local shares to start the week with plenty of buying action. The ASX 200 managed to hit the best levels in 3 weeks as the index rallied 105 points or 1.8% to 6,110.

The Aussie market is off to a strong start to the week with the ASX 200 lifting on widespread buying. The financials sectors is helping to drive improvements as every sector advances. Several retailers are lifting on solid profit updates.

ASX set to start the week with solid gains.