Stocks drifted lower on Friday after an early rally fizzled as investors digested in-line inflation data and weighed political uncertainty after the U.S. presidential debate.
Australia’s inflation rate surged to 4% in May, the highest this year, driven by significant increases in automotive fuel and electricity prices.
ASX higher on EOFY window dressing. IAG rallies after earnings guidance
We recommend selling Worley Limited (WOR) and switching to Ampol Limited (ALD). Our initial retention of WOR was based on the expectation of a rebound from its recent lows, which has not materialized.
Equities eked out a gain Thursday as investors weighed up a slump in chipmaker Micron and gains in consumer stocks just a day of key inflation data.
Australian shares fell 1.1% by midday following higher-than-expected inflation data for May, which showed a 4% annual increase.
Equities ground higher overnight as surge in Amazon to a record high, joining the $2 Trillion club, helped push tech higher just days ahead of key inflation data.
Inflation rate rises again. Third month in a ros. ASX lower led by property and consumer discretionary
By switching 5% of our BHYB holdings into FMG, we aim to capitalize on the potential price recovery and yield advantage offered by FMG. This move is expected to enhance our portfolio’s overall yield while leveraging FMG’s strong fundamentals and growth prospects.
Equities appeared lost for direction in the lead up to the key PCE data this Friday with Nvidia stemming the bleeding by bouncing 6.5% after a 20% fall from its highs last week
All 11 sectors were positive, led by the energy sector due to stronger oil prices. Key energy stocks such as Woodside, Santos, and Origin saw gains. Brent crude rose to $US85.98, marking an over 8% increase for the month.
Equities were mixed overnight as profit taking in Semiconductor stocks saw a shift back to the blue-chip DOW and the Russel2000 (small caps) with Nvidia now down 14% in 4 days.
