Closing Bell
3 Things Affecting Markets
- Payrolls – Friday nights employment numbers gave markets a small lift as rate hike fears subsided
- China Inflation Numbers – Inflation data in China was weaker than expected. The miss implies there is plenty of scope to ease monetary policy further, but also underlines the challenge Beijing faces in reflating its economy and avoiding a deflationary spiral.
- US Inflation data – US CPI is out Wednesday night with markets unlikely to see major movements leading into the numbers
ASX Today
The ASX started the day well with most sectors higher, led by gold stocks until the Chinese inflation data was released which showed a further slowing for inflation and the Chinese economy. This saw the materials sector turn lower, led by the big miners with BHP, RIO and FMG falling 1%-2%. The energy sector also gave back early gains from the morning session with WDS falling 1.5% to finish down 0.47%. Magellan shareholders had more pain as fund outflows continued. Tonight sees little data with Fed voting member, Michael Barr (Hawk) delivering a speech around midnight.
Leaders & Laggards
Winners
No Significant News.
No Significant News.
No Significant News.
No Significant News.
No Significant News.
Losers
No Significant News.
No Significant News.
No Significant News.
No Significant News.
No Significant News.
Calendar
Economic
