Evening Report: Stocks Bounce From Heavy Losses
The Aussie market jumped by 1.1%; recouping a portion of Wednesday’s 1.7% tumble. All sectors improved.
Read MoreThe Aussie market jumped by 1.1%; recouping a portion of Wednesday’s 1.7% tumble. All sectors improved.
Read MoreEvery sector on the Aussie market is higher as the ASX 200 index recoups nearly all of it losses around lunch. Health, tech and communications are leading improvements with TPG Telecom (TPM) the best on a guidance upgrade.
Read MoreWorld Overnight | |||
SPI Overnight (Mar) | 6435.00 | + 112.00 | 1.77% |
S&P ASX 200 | 6325.40 | – 110.30 | – 1.71% |
S&P500 | 3130.12 | + 126.75 | 4.22% |
Nasdaq Comp | 9018.09 | + 334.00 | 3.85% |
DJIA | 27090.86 | + 1173.45 | 4.53% |
S&P500 VIX | 31.99 | – 4.83 | – 13.12% |
US 10-year yield | 0.99 | – 0.02 | – 1.78% |
USD Index | 97.33 | + 0.15 | 0.15% |
FTSE100 | 6815.59 | + 97.39 | 1.45% |
DAX30 | 12127.69 | + 142.30 | 1.19% |
By Greg Peel
Read MoreUS sharemarkets rose on Wednesday. Sharemarket investors were encouraged by victories in ‘Super Tuesday’ primaries by moderate Democrat Joe Biden ahead of left-wing candidate Bernie Sanders.
Read MoreIt should be a buoyant start to ASX trading today after Wall Street closed with a 1,000 plus point gain for the Dow and solid gains for other measures.
Read MoreHere’s a couple of views of the December quarter GDP rise of 0.5% quarter on quarter and 2.2% through the year (which was helped by a 0.2% revision upwards to 0.6% growth in the three months to September).
Read MoreA big day today for interim (and in the case of QBE and Rio Tinto, final) dividends. A total of 16 ASX 200 companies go ex-dividend today (Thursday).
Read MoreIt would be fair to say that Australia’s new car market remains in a deep recession after February became the 23 monthly fall in sales in the last 24 months.
Read MoreThe Aussie market has fallen for the 8th time in the past 9 sessions as the potential slowdown in the global economy from the coronavirus outbreak remains on the minds of investors. The ASX 200 tumbled 110 points or 1.7% as banks weighed heavily.
Read MoreThe Australian sharemarket finds itself back in the red, erasing all Tuesday’s gains as almost all sectors head backwards. The Fed’s decision to cut rates by an aggressive 50bps between meetings seemed to spook markets globally.
Read MoreIn the wake of the RBA cut, the Fed has made an emergency cut of 50 basis points, sparking another sell-off. Dow down -785.
Read MoreUS sharemarkets remained volatile on Tuesday as investors took stock of the Fed rate cut and the commitment to action by G7 finance ministers.
Read MoreIn a rare between official meetings move, the US Federal Reserve has cut its key interest rate by a larger than normal half a percent as the impact of the COVID-19 virus continues to roil markets and starts to damage the global economy.
Read MoreThe cut in the cash rate to a new all-time low of 0.50% sent banking stocks into a slump that dragged the S&P/ASX 200 index down from a session high of 6524.3 to a closing 6435.7 points.
Read MoreThe RBA has become the first central bank to respond directly to the growing impact of the virus on economic growth, especially in China and especially after last week’s massive sell-off.
Read MoreThe Aussie market has snapped its 7-session losing streak as the RBA cut interest rates to fresh all-time lows. The ASX 200 ended off session highs as the banks faded into the close, the big four finishing at least 1% weaker. Markets are reacting to central banks around the world looking to encourage economies amid the coronavirus outbreak.
Read MoreThe Australian sharemarket is lifting by close to 2% at lunch on Tuesday, with all sectors improving on hopes of rate cuts from a number of major central banks.
Read MoreThe COVID-19 outbreak has put the brakes on Chinese growth in the short-term. Three key data points bear watching for signs of a rebound.
Read MoreThe US sharemarket is improving strongly in volatile trade on reports a number of major central banks are considering measures to stimulate their economies.
Read MoreThe rubber band had stretched down just too far on Friday night on Wall Street, signalling last night’s rebound. Dow up 1293. (Available for non-subscribers after 10am)
Read MoreSo where will the ASX 200 go this morning – follow Wall Street higher by 5%, a surge that saw the main indexes double their gains in the last hour of trading – or meander higher, waiting for the Reserve Bank to rule on interest rates, after a ‘modest’ 34 rise in overnight futures?
Read MoreChina is hovering on the edge of a major crisis – the COVID-19 crisis has strangled manufacturing and services, left wide areas of the country silent and now it is hitting some of the country’s heavily indebted financial and industrial groups.
Read MoreAustralia’s financial regulators held an emergency teleconference on Monday to discuss the impact of the coronavirus outbreak ahead of today’s meeting of the Reserve Bank board.
Read MoreThe Australian sharemarket slumped for the seventh consecutive session on Monday, in the process hitting its lowest levels in more than 9 months.
Read MoreSharp market falls with headlines screaming that billions of dollars have been wiped off the share market are stressful for investors. The current situation is doubly stressful because of fears for our own and others’ health – particularly for the elderly. However, several things are worth bearing in mind.
Read MoreThe Australian sharemarket has hit a 9.5-month low on Monday, slumping by around 13% from record highs hit just 1.5 weeks ago due to coronavirus fears and sluggish China data.
Read MoreWhile the US sharemarket slumped by around 12% last week due to coronavirus fears, the Dow Jones bounced off its Friday lows following the Fed signalling a potential rate cut to support its economy.
Read MoreUS shares fell 11.5% last week, Eurozone shares fell 12.4% and Japanese shares lost 10%. Australian shares followed the global lead and saw a 9.8% fall with IT, energy, retailers and materials seeing the steepest falls.
Read MoreWatch markets in Asia and Australia slide today when trading resumes in Asia – the plunge in manufacturing activity in China in February was starling, much worse than any forecasts and will trigger a new round of instability, especially with COVID-19 cases outside China growing faster than inside that country.
Read MoreThe December 31 half and full-year earnings season is over for the ASX 200 and very quickly the current June quarter is starting to look weaker than thought.
Read MoreThe global spread of COVID-19 will dominate in the week ahead as investors attempt to assess how long it will take to be contained outside China and how bad the hit to economic activity will be.
Read MoreThe Australian sharemarket slumped by 3.25% on Friday, slipped for the sixth day and hit a six-month low in the process due to coronavirus fears.
Read MoreThe Australian sharemarket is slumping by as much as 3.3% on Friday due to continued coronavirus concerns. All sectors are losing ground with the ASX 200 declining by close to 10% this week alone.
Read MoreA brief look at important company events and economic data releases next week.
Read MoreA failed rally on Wall Street only ended in reaccelerated selling. Dow down -1190.
Read MoreUS sharemarkets remained volatile as investors digested news on COVID-19.
Read MoreThe growing COVID-19 crisis saw another sharp sell-off ahead of the close on Wall Street fall on Thursday, pushing key indexes into correction territory with a fall of 10% in the past week.
Read MoreLocal shares have extended its run of losses to a fifth session in a row with the ASX 200 down another 50 points or 0.75%. The good news was that selling was less severe than the previous three days.
Read MoreThe share market saw early gains on Thursday, showing a willingness to consolidate having shed around 6% in recent days. However, sellers took advantage of the early gains to push ASX 200 lower at lunch. Banks are the main weight on the Index at lunch with most of the big four down in the order of 1%.
Read MoreIf there’s anything of a silver lining to the dent in global GDP (gross domestic product) the virus is expected to cause, it’s that history suggests that, if/when this virus is ultimately contained, we should expect to see a rapid normalization in economic growth rates and corporate fundamentals.
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