August, 2024 - MPC Markets

Closing Bell 2nd August: Resmed rallies after good earnings. XJO falls 2% and now below 8000

Jonathan Tacadena / August 2, 2024

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.

Bulls vs. Bears

Bulls vs. Bears: Episode 29: Slowing growth arrives to shut down the equities party

Kai Chen / August 2, 2024

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)

Balanced Portfolio

Balanced Portfolio Recommendation: Take Profit 4% Woolworth Group Ltd (WOW)

Kai Chen / August 2, 2024

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.

Balanced Portfolio

Balanced Portfolio Recommendation: S&P500 Short ETF (Hedge)

Kai Chen / August 2, 2024

Poor economic data out of the US has started to pile up along with soured sentiment on the Mega-Cap stocks and the AI thematic. We are recommending a 5% allocation to a portfolio protection tool or “short hedge” to buffer the damage from any downside move

Balanced Portfolio

Balanced Portfolio Update: Resmed Rallies on Earnings

Jonathan Tacadena / August 2, 2024

ResMed Inc.(RMD) pioneer innovative solutions that treat and keep people out of the hospital, empowering them to live healthier, higher-quality lives. Our digital health technologies and cloud-connected medical devices transform care for people with sleep apnea, COPD, and other chronic diseases. and lower costs for consumers and healthcare systems in more than 140 countries.

Pre-Market Pulse

Pre-Market Pulse 2nd August – Weak economic data rattles equities

Mark Gardner / August 2, 2024

Weaker economic data rattled investors overnight as jobless claims rose and US manufacturing data notched its 16th straight contraction, the longest streak in a quarter of a century

Events Calendar

Market Calendar 5th August – 9th August 2024

Mark Gardner / August 1, 2024

Anticipating next week’s company earnings and economic figures.

Stay informed on the latest financial updates and trends with MPC Markets

Closing Bell

Closing Bell 1st August: Monadelphous falls after contracts terminated. XJO rallies to new highs above 8100

Jonathan Tacadena / August 1, 2024

The Australian sharemarket has reached a record high, surpassing 8100 points, driven by rate optimism and rising oil prices. The S&P/ASX 200 increased by 34 points, or 0.4%, to 8126.7, building on gains from the previous day following lower core inflation figures that eased rate concerns.

Pre-Market Pulse

Pre-Market Pulse 1st August – Tech stocks bounce as Powell opens the door to Sept rate cuts

Mark Gardner / August 1, 2024

Stocks notched one of their biggest gains since February overnight, as the Federal Reserve kept rates unchanged, though signaled that it that potential cut in September was on the table.