Closing Bell 13th November: Elders Surges in Declining ASX Market Dominated by Energy and Banking Losses
Amidst a general ASX downturn driven by energy and bank stock losses, Elders stands out with a notable surge, defying broader market trends.
November 2023
Alpha Portfolio Recommendation: Sell – S&P500 (Using Warrants SPFKCY)
Moody’s changed the outlook on the US ratings to Negative. This morning US futures are slightly softer and this gives us an opportunity to short where risk can be managed easily, with a stop just above the recent highs.
Balanced Portfolio Recommendation: Add – Nufarm (NUF) 2%
Agricultural Earnings Season Update 13/11/2023
Strategy Update: Agriculture Reporting Season – Elders Earnings Update
Elders have reported results this morning beating expectations and rallying 10%. This positivity
Pre-Market Pulse 13th November – US credit rating placed on “Negative watch” after market close
After market close on Friday, ratings agency Moodys lowered its outlook on the U.S. credit rating to “negative” from “stable” citing large fiscal deficits and a decline in debt affordability.
Weekend Edition: 11th November 2023
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Closing Bell 10th November: Fed Chairman Powell Hints at Further Rate Hikes, Markets React
In a shift from previous expectations, Fed Chairman Jerome Powell’s comments on potential rate hikes spooked Wall Street, leading to a drop in bond yields.
Balanced Portfolio Recommendation: Trim Neuren Pharmaceuticals (NEU)
At all time highs, we recommend a trim of 1% (one third) of the holding
Strategy Update: Agriculture Reporting Season Update
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
Pre-Market Pulse 10th November – Fed “Grinch” Powell spoils Christmas rally hopes
Equities fell overnight as Federal Reserve chairman Jerome Powell played the “Grinch” as he signaled that monetary policy wasn’t at levels yet that were sufficiently restrictive to rein in inflation to target, denting investor hopes of a Christmas rally
Closing Bell 9th November: ASX Rises Amid Tech Turbulence and Mining Moderation
ASX edges higher despite tech sector slump, with healthcare gains and mining giants’ resilience amidst global economic and interest rate concerns.
Pre-Market Pulse 9th November – Equities run out of steam after stellar run
Equities took a breather Wednesday, a day after notching their longest winning streak in two years as investors continued to digest quarterly earnings and remarks from Federal Reserve officials.