Australian shares rose in early afternoon trading, buoyed by positive sentiment from Wall Street and Asia as investors reassess market and interest rate outlooks. The S&P/ASX 200 gained 0.6%, or 42.9 points, to 7723.5, reversing a 0.3% loss at the open. This follows a 0.4% rebound in the previous session after Monday’s sharp sell-off.
Balanced Portfolio – SELL 5% Resmed (RMD) Take +10% profit
We recommended buying ResMed Inc. (RMD) due to its potential for strong performance in the upcoming earnings season on the 29th of July
Global equites stabilized overnight as dip buyers piled into beaten down tech stocks following a rout a day earlier, though gains were limited amid lingers concerns about an economic slowdown.
The Australian sharemarket maintained its gains despite the Reserve Bank holding the cash rate steady at 4.35%, citing persistent inflation concerns. The S&P/ASX 200 Index was up 0.8%, trading at 7,708.7 points in late trading, with six of 11 sectors in positive territory.
In one of the scariest sessions I’ve seen since the GFC, global equities imploded overnight, led by a 13.5% fall in Japan’s Nikkei, the largest fall since the Black Monday crash back in 1987
The Australian sharemarket is experiencing its steepest sell-off in two years, driven by escalating U.S. recession concerns. The S&P/ASX 200 index has dropped 2.7%, or 220 points, to 7722, extending Friday’s 2.1% decline. This 5% two-day loss marks the worst single-day drop since June 2022, when U.S. inflation surged to a 40-year high, unsettling global markets.
A minor equities panic has started to spread across global markets in the last few sessions as investors grow increasingly concerned that the US economy will go into recession.
To reassure you, the MPC Markets Balanced Portfolio is defensively positioned and while we are still not immune to the broader market weakness, we have been wary a move like this could happen
A lot of people asking what caused the recent stock market selloff, here’s the answer, the unwind of the YEN carry trade.
Investors abandoned growth stocks as a much weaker-than-expected jobs report triggered fears the US economy could be heading for recession and sparked a sharp jump in volatility.
Australian shares experienced their largest one-day drop in 16 months, with the S&P/ASX 200 plummeting 2.1% or 171.1 points to 7943.60, following a sharp decline on Wall Street amid concerns that the Federal Reserve may be behind on cutting interest rates. This fall comes after the index reached a record high of 8114.7 just a day earlier. Despite the drop, the index remains on track for a 0.3% weekly gain, following a 4.2% rise last month.
This week, mega-cap earnings disappoint as investors ask “where’s the revenue”, US economy starts to show cracks and middle east conflict flares up (again)
We advise selling 4% of our portfolio allocation in Woolworths Group Ltd (WOW). The stock has provided an 11% profit, rising from our entry at $30.8 to an exit at $34.2. Given the recent challenges faced by the company, including operational issues and potential management changes, there is uncertainty surrounding the upcoming earnings release. These factors could lead to a revaluation of the stock, making it a prudent time to lock in profits and reduce exposure.
