Balanced Portfolio Recommendation: Sell 3% Incitec Pivot Ltd (IPL)
Sell 3% of Incitec Pivot Limited (ASX: IPL). The ongoing divestment of its Fertilisers business introduces significant complexity and uncertainty, impacting financial stability.
May 2024
Pre-Market Pulse 16th May – Stocks push to new highs on “cooling” inflation
Stock pushed to new highs as consumer inflation cooled more than expected following three months of upside surprises, boosting hopes for sooner rate rates and sending Treasury yields sharply lower
Closing Bell 15th May: Copper continues rally to new highs. Miners help push ASX higher
Copper continues rally to new highs. Miners help push ASX higher. Iress falls on data breach
Pre-Market Pulse 15th May – Nasdaq hits fresh high despite higher Inflation
Stocks ignored a hotter-than-expected inflation report as Federal Reserve chairman Jerome Powell said the current level of interest rates is working to curb inflation. In commodities, copper continued its bull run to fresh 2-year highs at $11,000t ($5.05lb) on shortage concerns.
Closing Bell 14th May: Lacklustre day for ASX ahead of Fed Budget & US inflation data
Ahead of the federal budget, Australian shares saw modest declines, with the S&P/ASX 200 dropping by 0.4 percent as the market reacted to a flat performance on Wall Street and awaited crucial inflation data from the US. The real estate sector felt the brunt of the losses, dipping 0.9 percent, influenced by interest rate sensitivities.
Alpha Recommendation: Buy – Copper Warrants
Citimini Copper Warrants are Warrants that track the underlying Copper Futures. For each 1c (USD) that the Copper Futures moves, the Copper Warrants move 1c (USD).
Pre-Market Pulse 14th May – Stocks flat as investors wait on Inflation data, Copper spikes
Stocks as investors awaited key inflation report due later this week that will likely play a role in shaping the Federal Reserve’s monetary policy outlook.
Closing Bell 13th May: “notable slowdown” in Construction sinks Fletcher Building shares
Fletcher Building, a prominent construction group, witnessed a significant 11% drop in its stock value following a reduction in its fiscal 2024 earnings guidance. The company attributed this decline to a “notable slowdown” in New Zealand house sales and a faltering property market in Australia.
Pre-Market Pulse 13th May – Stocks mixed as consumer weakens
Stocks edged higher Friday night to clinch a fourth-weekly win as the broadening out of the rally amid mostly stronger quarterly results continued to support stocks just as signs of sticker inflation and a weaker consumer confuses the outlook for interest rates
Closing Bell 10th May: ASX Climbs on Energy Boost and China Recovery Hopes
The Australian Stock Exchange saw gains, led by energy companies as optimism over China’s economic rebound and rising commodity prices fueled market enthusiasm.
Bulls vs. Bears: Stocks sail higher on rate cut optimism
The investor sentiment pattern, in the US equity market in particular, is of extreme selective hearing with any weakness in the economy cheered because it will trigger rate cuts, while any strength in the economy is cheered as “proof” of a soft landing.
Pre-Market Pulse 10th May – Stocks sail higher on rate cut optimism
The DOW notched its 7th straight gain for the day as slightly higher US jobless claims pushed Treasury yields back to levels prior to rate hike chatter in early April