Daily Market Update

ASX hits 13 month high, unemployment falls again, oil prices jump 5%  The ASX200 (ASX:XJO) is within just 100 points of an all-time, finishing 0.5% higher today and slowly catching up to a US market that is hitting new highs almost every other day. Today, it was all about the mining and energy sector, with US crude inventories…

ASX200 breaches 7,000 points, Zip Co raising $400m, Woodside gets new CEO The ASX200 (ASX:XJO) finally breached the 7,000 point mark, adding 0.7% in today’s session with IT, healthcare, and materials once again the leaders adding 2.1%, 1.3%, and 1.2% respectively. The iron ore sector gained despite an apparent slowdown in Chinese demand, with gold miners taking off following news…

Market volatility up as ASX finishes flat, Zip Co jumps 17%, Cleanaway’s new deal The ASX200 (ASX:XJO) finished flat for the day with gains in the IT sector, which was 2.2% higher, insufficient to offset weakness across cyclical businesses including energy, -0.7%, and utilities, -1.1%. The standout by far was Buy Now Pay Later firm Zip Co (ASX:Z1P) which…

Markets weaken, Webjet raises $250m, lithium jumps as production ramps up The ASX200 (ASX:XJO) fell 0.3% to begin the week, struggling to overcome a weak overseas lead with a lack of material announcements for the local market. All eyes were on Federal Reserve Chair Jerome Powell’s 60 Minutes interview overnight in which he highlighted that the US economy is…

ASX delivers strong gains, gold shining again, travel hit by vaccine issues The ASX200 (ASX:XJO) finished the week flat but managed to deliver a strong 2.4% from just four days of trading. The initial driver was the Reserve Bank reiterating their accommodative policy settings, sending the technology sector including Afterpay (ASX:APT) up 15.1% over the week after a difficult few months….

ASX breaches 7,000, record highs all around, Westpac hit with ASIC case The ASX200 (ASX:XJO) delivered another positive day, finishing 1.0% higher spurred on by an improving global economic outlook. Market sentiment is overcoming growing issues with the vaccine rollout and risk of mutations, with materials the biggest beneficiary jumping 1.8% behind BHP (ASX:BHP) and Rio Tinto (ASX:RIO) both of which…

ASX hits new high, value rotation continues, car sales spike The ASX200 finished another 0.6% higher on Wednesday, reaching the highest point since February last year but still some way off the all-time high of 7,199 points. Once again it was the energy and materials sectors boosting the market as a flood of more positive economic news…

Nasdaq rally, NZ travel bubble, merger activity sends market higher The ASX200 (ASX:XJO) followed a strong US lead on Tuesday, adding 0.8% with the industrials and IT sectors the key drivers. The risk-on mood boosted Afterpay Ltd (ASX:APT) by 10% and competitor Zip Co (ASX:Z1P) by 9.1% after what has been a difficult few months for the BNPL companies. By far the…

ASX positive, Zip Co (ASX:Z1P) teams up with JB HiFi, building approvals heat up The ASX200 (ASX:XJO) posted another positive day as the quarter comes to an end, finishing 0.8% higher. Whilst a positive headline, the market fell heavily into the close, down around 1% in the last hour of trading. This resulted in another 1.8% gain…

Market down as Brisbane locks down, AGL to split, USD rallies  The ASX200 (ASX:XJO) finished 0.9% lower after the Queensland Government announced a lockdown amid surging virus cases in Brisbane and surrounding areas. The retail sector was hit hard, falling 1.4%, as the likes of Flight Centre (ASX:FLT), -1.8% and Webjet (ASX:WEB), -2.0%, were hit with cancellations of Easter travel plans. The…

Brisbane lockdown hits ASX, Afterpay (ASX:APT) falls to three month low, travel stocks struggle The ASX200 (ASX:XJO) gave up a strong opening on US stimulus, ultimately finishing 0.1% lower after the Queensland Government announced a three-day lockdown of the city after community transmission of the UK COVID-19 variant was confirmed. The retail sector fell on the news, with Webjet (ASX:WEB)…

ASX up 1.7% for the week, all action at the CEO-level of AMP and TPG, battery stocks on the charge  The ASX200 (ASX:XJO) finished the day 0.5% higher, with every sector but healthcare delivering a positive return. Telecommunications and IT were the highlights, finishing 1.3% and 1.2% higher, with a 2.4% jump in Telstra (ASX:TLS) offsetting a 6.7% fall…