Markets

The ASX 200 slipped 0.1% to 5,953 on Monday, held back by falls in the financial and materials sectors. Westpac’s full year result slightly missed consensus forecasts, sending its shares down 2.1%.

The ASX 200 is firmer on Friday – up 0.6% or 34 points to 5,966. Retail sales were flat in September, softer than the 0.4% rise economists had been expecting.

It was a massive night for global markets with the US tax reform bill being released, President Trump nominating Jerome Powell as the next Fed Chair (as expected) and the Bank of England raising rates for the first time in over a decade.

The local sharemarket rose 1% this week, lifted by strong gains from the energy sector. On Friday, the index improved by 28 points or 0.5% to a 2.5 year high of 5,959.

I had a coffee this week with a private equity investment manager, who was explaining that he never pays more than 4-6 times EBITDA (cash flow) for a business. And that’s pretty typical for those who actually buy businesses – you want a cash payback of no more than five years, or a very good reason for something longer (that is, “strategic reasons” – which is to say, you really want it).

Losses in the financial sector are weighing on the market with investors disappointed with NAB’s earnings result and the Bank of Queensland trading ex-dividend. Fairfax has announced plans to list its Domain business on the ASX on November 16.

The US sharemarket held onto modest gains on Wednesday but was held back by a delay in the release of the US tax reform bill. The US central bank as expected kept rates on hold but seems on track to lift rates in December.

Gains from the mining & energy stocks were outweighed by losses from the banks & miners today. The ASX 200 finished down 6 points or 0.10% to 5,931.

The local sharemarket has made a strong start to the month, up 0.7% to 5,949. It follows a stellar October performance, where the index rose 4%.

The US sharemarket rose slightly last night with the Nasdaq hitting a fresh record high. Apple surged to the highest levels ever ahead of its earnings tomorrow. Intel rose on hopes it might win a contract to sell chips to Apple.

The ASX 200 has finished the session up 28 points or 0.5% to 5,937 – nearing a 2.5 year high. Almost every sector improved, with energy stocks again the best performers.

The local sharemarket has shrugged off a weak lead from Wall Street, to trade up by about 0.10% at mid-session. Energy stocks are again the standouts, while Woolworths shares are rallying on strong quarterly sales numbers.

The US sharemarket eased overnight from record highs on news US tax reforms may be phased in over five years. While healthcare stocks and telcos struggled, Apple managed to hit a record high ahead of its earnings this Thursday.

The local sharemarket has recorded its best monthly performance this year, with the ASX 200 rising 4% over October. Every sector rose over the month, with Energy and IT stocks the standouts.

The US sharemarket rallied on Friday thanks to strong earnings from technology giants like Amazon, Intel and Microsoft. Signs the American economy is growing at a faster pace and excitement that US tax reforms are closer kept sentiment healthy.

The ASX 200 has recovered Friday’s losses, closing up 15 points or 0.3% to 5,919. The market was boosted by strong gains in the energy, industrials and financial sectors.

The local sharemarket is regaining some of Friday’s losses, helped by a rally in the energy sector. The ASX 200 is up 0.2% or 13 points to 5,916.

The ASX 200 has finished the session down 13 points or 0.2% to 5,903, hurt by political uncertainty after the High Court disqualified Deputy PM Barnaby Joyce from parliament due to his dual citizenship.

The local sharemarket is firmer on Friday, on track to record its fourth straight day of gains and its fourth consecutive week of improvements.

The US sharemarket edged higher overnight, once again approaching the best levels on record. The main focus was Congress moving a step closer to tax reform and the European Central Bank announcing plans to gradually reduce stimulus.

The local sharemarket is tracking lower on Thursday, following a weak lead from Wall Street. The ASX 200 is down 18 points or 0.3% to 5,886.

The US sharemarket was hit last night following sluggish earnings and political uncertainty. Shares fell by ~0.5% which ended up being the worst daily performance for equities in 7 weeks. Boeing was the main drag following its results, slipping by 3%.

The ASX 200 has finished the session up 0.2%, having been down about 0.3% in early trade. The rebound was thanks to a turnaround in the financial sector, and gains from healthcare and energy stocks.

The ASX 200 is getting a boost after weaker than expected inflation data lowered the likelihood of interest rates rising anytime soon. September quarter inflation came in at 0.6%, lower than the 0.8% expected.

The US sharemarket was back to its winning ways, hitting a fresh record high while the Dow Jones had its best day in over a month. Strong results from 3M and Caterpillar helped lift equities most together with US tax reform hopes.

The ASX 200 has finished the session up just 8 points, held back by falls from telco & consumer-related stocks.

The ASX 200 is being held back today with falls in the Energy, Financial and Telco sectors offsetting gains from the Utilities, Materials and Healthcare sectors. The index is trading flat at lunch.

The US sharemarket fell for the first time in seven sessions with big losses from General Electric a major drag on equities. GE disappointed with its profit results on Friday and received a number of broker downgrades today.

The ASX 200 has finished the session up just 3 points, with gains from the Materials and Healthcare sectors offset by losses from the Financial and Energy stocks.

The US market remains on its impressive run of all-time highs with all three indices hitting their best levels on Friday. Hopes tax reforms are closer to getting passed through Congress seemed to help boost market sentiment, yields and the USD.

The local sharemarket has started the week lower with the ASX200 breaking its streak of 8 successive sessions and falling 13 points or 0.2%. Weakness in financials and materials weighed on the broader market.

The local sharemarket continues is lifting at lunch following a strong lead from Wall Street. Telcos & financials lifting the ASX 200 higher.

The local sharemarket is up 0.1% after trading lower by as much as 20 points earlier in the day. Weaker commodity prices hurting energy and mining stocks.

The US sharemarket recovered impressively in the second half of the session to finish slightly firmer to fresh record highs. The Dow Jones edged higher to the fifth straight record close. Apple was the main drag on signs of softer iPhone 8 sales.

The local sharemarket has gained 1.6% over the week, adding to last week’s strong 1.8% improvement. The ASX 200 on Friday rose 10 points or 0.2% to 5,907.

The local sharemarket is up 0.2% – helped by a positive lead from Wall Street where the Dow again hit a fresh record high, closing above 23,000.

The US sharemarket has once again cracked record highs overnight. The Dow Jones was the standout, lifting by 0.7% (seven times gains for S&P500) and closing above 23,000 points for the first time thanks to a near 9% surge from IBM.