Closing Bell 15th March: Miners and Banks lead ASX 1.5% lower
Miners and Banks lead ASX 1.5% lower. UBS downgrades banks. TAH falls after CEO steps down
March 2024
Pre-Market Pulse 15th March – Persistent Inflation figures put the brakes on bull run
Equities sold off overnight as data showing inflation is running hotter-than-expected and signs that the consumer is pulling back weighed on investor sentiment.
Closing Bell 14th March: Financial fall, drags down ASX. Arafura soars 80% after government finance facility granted
Financial fall, drags down ASX. Macquarie says time to sell Big 4. Arafura soars 80% after government finance facility granted
Pre-Market Pulse 14th March – Tech stocks drift lower on pressure from rising yields
Tech stocks drifted lower overnight under the pressure of rising bond yields due to hotter than expected inflation numbers in the previous session increased concerns around Thursdays PPI numbers
Closing Bell 13th March: Liontown jumps. MQG rises above $200. ASX edges higher
Liontown jumps on new debt facility. MQG rises above $200. ASX edges higher
Balanced Portfolio Recommendation: TRIM 1/3 (+50%) Liontown Resources (LTR)
Trim 1/3 of Liontown for 50% profit
Balanced Portfolio Update: Increase Price target Treasury Wine Estate (TWE)
The Chinese foreign ministry has begun drafting the removal of tarriffs on Australian wine, reopening Treasury Wines largest market for their flagship brand, Penfolds
Pre-Market Pulse 13th March – Investors ignore hot inflation numbers and buy the dip in tech
Investors ignored a hotter-than-expected inflation and twisted the narrative to “the consumer is resilient“ and bought the dip in tech stocks.
Closing Bell 12th March: The Decline of Iron Ore Amidst China’s Recovery Challenges
Iron ore futures dip to a five-month low amid weak demand in China, contrasting with gold’s rise on safe-haven appeal and Bitcoin’s surge to new highs.
Pre-Market Pulse 12th March – Tech bulls continue to take profit ahead of Inflation data
Tech stocks drifted lower overnight as investors took some profits ahead of US CPI data Tuesday night which will be key in shaping the Federal Reserves next move on interest rates
Closing Bell 11th March: Energy and Mining stocks lead ASX to 1.8% fall
Energy and Mining stocks lead ASX to 1.8% fall. WDS down 2.4%, RIO down 3.7% & FMG down 3.1%. REX rallies 5.1%
Bulls vs. Bears: Bitcoin and Bullion Breaks Records
This week’s episode of “Bulls vs Bears” Bitcoin reached an all-time high of $69,191.95, fueled by U.S. regulatory approval for Bitcoin ETFs, a renewed enthusiasm for tech stocks, and the approaching “halving” event. Gold, on the other hand, marked a significant rise to $2,141.79 an ounce, up 17% from the previous year, driven by its safe-haven appeal amid economic instability and inflation concerns.