Market Calendar 22nd July – 26th July 2024
Anticipating next week’s economic figures. Stay informed on the latest financial updates and trends.
July 2024
Pre-Market Pulse 19th July – Tech continues to fade as sun sets on Mag7
Equities ended lower overnight, pressured by wild swings as the early-day rebound in tech faded amid an ongoing rotation out of high-flying megacap tech stocks ahead of earnings from Netflix
Closing Bell 18th July: Tech Sector Plunge Drags Australian Shares 0.2% Lower Amid Global Semiconductor Sell-Off
Australian shares fell by 0.2% at lunchtime, primarily driven by a 2.9% tumble in the tech sector, which mirrored declines in overseas markets.
Pre-Market Pulse 18th July – Nvidia tumbles, Value stocks gain as rotation out of tech continues
Value stocks, led by financial and energy, gained overnight as the rotation away from tech was accelerated following an Nvidia-led retreat in tech on geopolitical jitters.
Closing Bell 17th July: Gold Prices Hit New Peak, Boosting ASX Gold Miners Amid Record Sharemarket Rally
A surge in interest rate-sensitive technology and real estate stocks propelled the Australian sharemarket to a new intraday record on Wednesday.
Balanced Portfolio Update: BHP Quarterly
Overall, BHP has shown strong operational performance with record production in several key commodities and has met or exceeded its production and cost guidance for FY24. The company is actively progressing its growth and decarbonisation strategies, despite challenges in the nickel market.
Balanced Portfolio Recommendation: Switch 2% Stanmore Resources (SMR) to New Hope Corporation (NHC)
NHC is currently trading at a discount relative to its intrinsic value and peers, presenting an attractive entry point based on key valuation metrics.
Balanced Portfolio Recommendation: Take Profit 4% Elders Limited (ELD)
We are taking profit on Elders Limited (ELD) by selling our entire 4% allocation. Purchased at $7.60 and now selling at around $9.15, we realize a 20.3% capital gain. Additionally, we received a $0.18 dividend per share, which provides a 2.36% yield. In total, this equates to a 22.66% profit on our investment.
Pre-Market Pulse 17th July – DOW hits new record as Bank and Healthcare earnings impress market
The Dow had its best day in more than a year Tuesday, closing at fresh record highs, underpinned by better-than-expected retail sales data and a slew of mostly upbeat quarterly earnings from corporates
Closing Bell 16th July: Droneshield falls 30% before trading halt. XJO weaker, hovers around 8000
Australian shares are tilting lower, dragged down by iron ore miners, pulling the index from yesterday’s record high above 8000 points. The S&P/ASX 200 fell 11.7 points, or 0.2%, to 8017.4 at midday, despite gains on Wall Street, as traders weighed the possibility of a third US rate cut.
Pre-Market Pulse 16th July – Powell acknowledges progress on inflation, Bank earnings shine
Stocks surged higher overnight on bank earnings and increased bets for a September rate cut as Fed chief Jerome Powell said recent inflation data had added to confidence.
Closing Bell 15th July: Aussie Broad Band lower after earnings warning. XJO crosses 8000 onto record highs
The Australian sharemarket climbed above 8000 for the first time amid a broad rally, buoyed by speculation of a potential US Federal Reserve rate cut. The S&P/ASX 200 Index rose 0.6%, or 45.8 points, to 8005.1 with all 11 sectors in positive territory. This follows a strong lead from Wall Street, where the S&P 500 hit a new record high and the Dow Jones surpassed 40,000, driven by increased rate cut bets.