Closing Bell 31st October: Mineral Resources Rocks the Market with a $1.1B Deal Surge!
Mineral Resources (MinRes) has agreed to sell its oil and gas assets in the Perth Basin to Gina Rinehart’s Hancock Prospecting in a $1.1 billion deal.
October 2024
Closing Bell 31st October: MinRes jumps after sell off oil assets to Gina. XJO falls as utilities weaker
Australian shares slipped midday as utilities and consumer staples weighed on the S&P/ASX 200 Index, down 0.2% or 12.1 points to 8168.3. Utilities led losses, with AGL Energy falling 6% after Barrenjoey downgraded it to underweight, citing the expiry of cheap coal and gas supply contracts, which prompted reduced future earnings estimates.
Pre-Market Pulse 31st October – Investors underwhelmed by Google, Microsoft and Meta earning beats
Stocks were mixed overnight as investors digested a jump in Treasury yields and cooling rally in Alphabet (Google), while after the bell, Microsoft and Meta were met with lukewarm enthusiasm, despite beating expectations
Closing Bell 30th October: Star Group falls after weak revenue numbers. XJO slides even after inflation figures were lower
The Australian sharemarket advanced, following Wall Street’s gains, as consumer discretionary and mining stocks led the rally. By early afternoon, the S&P/ASX 200 Index was up 0.5 percent, adding 41.6 points to reach 8263.1.
JTrader: 30th October 2024: Adam Taggert and Luke Gromen
Adam Taggart interviews Luke Gromen. Luke is saying bonds are uninvestable and expect the problems to get worse fast
JTrader: 28th October 2024: Maggie Lake and Kevin Muir
In this epic (but long) interview Hugh outlines his thesis on a deflationary collapse. JTrader gives his summary and comes out with an actionable idea
Pre-Market Pulse 30th October – Earnings the only focus for investors as Google “beats the Street”
Equities finished higher overnight, shrugging off mixed economic data as tech continued to rack up gains ahead of major earnings, while Google rose 5%+ on earnings after the bell
Closing Bell 29th October: Myer agrees to buy Premier Investments apparel brands. XJO continues to climb higher
The Australian sharemarket advanced, following Wall Street’s gains, as consumer discretionary and mining stocks led the rally. By early afternoon, the S&P/ASX 200 Index was up 0.5 percent, adding 41.6 points to reach 8263.1.
Pre-Market Pulse 29th October – Tech shrugs off rising bond yields into MAG7 earnings
Investors ignored multi-month highs in US treasuries, with their eyes firmly fixed on the approaching MAG7 earnings and a busy week of top-tier economic data and quarter earnings including from big tech.
Closing Bell 28th October: Palladin drops on possible delays in Fission takeover. XJO flat in quiet start to busy week
Australian shares remained steady early Monday afternoon, with the S&P/ASX 200 down 1 point at 8211.2 in a restrained start to the week. Gains in technology balanced declines in energy and utilities sectors, as five of the ASX’s 11 sectors rose.
Balanced Portfolio Rebalance – Sell WDS, Trim TLX & BUY Wisetech WTC
Balanced Portfolio Rebalance – Sell WDS, Trim TLX & BUY Wisetech WTC
Pre-Market Pulse 28th October – The Tech party rolls on into MAG7 earnings this week
Equities were mixed with the Nasdaq closing higher Friday, after hitting an intraday high as tech stocks continued to make gains as investors piled into high flying tech stocks ahead of a key week of earnings next week.