Closing Bell 8th November: ASX Rebounds Midday, Tech Rises as Miners Stumble Amidst Global Commodity Dip
ASX recovers with tech stocks rallying, despite mining giants’ fall due to weak Chinese data and a global decline in commodity prices.
November 2023
Alpha Portfolio Recommendation: Stop-loss Triggered SELL – Deep Yellow (DYL)
Deep Yellow Limited (DYL) is a well positioned Uranium Junior located in two Tier 1 Jurisdictions i.e. Australia and Namibia.
Alpha Portfolio Recommendation: Buy – Crude Oil ETF (OOO)
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 8th November – Tech bulls drive equities to their best run in 2-years
Equities with the S&P 500 and Nasdaq notching their longest streak of gains in two years, as a retreat in U.S. Treasury yields buoyed megacap growth stocks.
Closing Bell 7th November: RBA Raises Cash Rate to 4.35% Amid Inflation Concerns
The Reserve Bank of Australia has increased the cash rate by 25 basis points, aiming to curb persistent inflation and stabilize economic growth.
Alpha Portfolio Recommendation: Sell – Australian Dollar AUD
The Reserve Bank of Australia (RBA) has increased the cash rate target by 25 basis points to 4.35%, alongside a similar increase for the interest rate on Exchange Settlement balances, in response to persistent inflation that, while past its peak, remains too high. After the RBA hike rates by 25 bps on Tuesday, the language was fairly cautious causing the the AUD to sell off against the USD.
Pre-Market Pulse 7th November – Bulls take breather from breakneck rally as bond yields bounce
Equities finished relatively unchanged overnight, taking a breather from a weeklong rally not seen in 12 months
Closing Bell 6th November: Investors rally behind ASX tech amidst economic optimism
ASX’s tech stocks are on a tear today, leading the charge as rate hike jitters take a back seat. Investors, it’s time to buckle up for a tech-tastic ride.
Alpha Portfolio Recommendation: Buy – Australian Dollar AUD
With the Fed cooling its hawkish rate talk and the RBA looking likely to hike rates tomorrow, the AUD should benefit
Pre-Market Pulse 6th November – Equities have best week this year as softer Jobs report bolsters “peak rates” speculation
Equities wrapped up the week with its biggest weekly gain this year as a weaker-than-expected jobs report stoked hopes that Federal Reserve rate hikes are now in the rearview mirror, pushing Treasury yields sharply lower.
Weekend Edition: 3rd November 2023
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Closing Bell 3rd November: stocks rally tracking Wall St strength, easing Fed fears
Jerome Powell’s words echo across global markets, with ASX sectors reacting to potential future rate adjustments.