The ASX 200 almost managed to recover from early weakness on Thursday, finishing the session on its intra-day high, down just 0.1%. The miners and banks again changed roles, with the materials sector taking 48 points off the market while the financials added 34 points - if they could just rally together, we would be trading at new highs in the blink of an eye.
The ASX 200 again illustrated it’s regained its “Mojo” on Wednesday, reversing early losses to close up +0.3%, its best close since late August - it will get another test today with the index set to open down 0.5%. Gains were again fairly broad-based on Wednesday, with more than 60% of the main board closing higher, and the miners contributing over 70% of the day's advance.
The ASX 200 surged out of the gates on Tuesday, steadily building on its early gains to finish up +1.1%, helped by broad-based buying with close to 90% of the market’s main board closing higher. The financials took over the baton from the miners in terms of market gains, but only just; the banks & Co added 34 points while the materials sector added 33 points, and importantly, there were no major groups that weighed on the index
The ASX 200 had a choppy Monday before finally closing up just +0.1%, despite the losers just nudging the number of winners. Fortunately, from an index perspective, the materials sector (+2.9%) carries more weight than the financials (-1.1%).
The storming victory by the Democrats in the US, taking both the House and Senate, was largely expected, although the emphatic nature of the result surprised many. It led to investors reassessing the risks around the AI infrastructure buildout - the “picks and shovels trade” was literally hammered.
The ASX 200 followed the US futures aggressively lower on Wednesday as it became clear that President Trump and the Republicans had lost control of both the Senate and House; the bookies got it correct.
Yesterday brought us the Melbourne Cup and another 0.25% rate hike by the RBA, taking the cash rate to 4.85%, its highest level in 18 years. The hike was totally expected, but overall the rhetoric from Michele Bullock supported our view that rates will now be on hold well into 2027, with the next move more likely to be a cut.
The ASX 200 fell away on Monday ahead of the RBA and US mid-terms, with the miners and banks, the main contributors to the index's 0.6% decline. The banks slipped despite Westpac (ASX: WBC) advancing +1% following its reasonable FY26 result, despite management warning the next 12–18 months of its UNITE transformation would be challenging - UNITE is WBC’s major, multi-year technology and operational transformation program, designed to simplify how the bank operates, reduce costs and improve customer experience.
The US Tech Sector came under further pressure last week with aggressive pullbacks from the likes of Intel (-24%), Google (-13%), Palantir (-6%), Netflix (-6%), and Meta (-3%) weighing on the indices and general market sentiment. The issue last week wasn’t bond yields, but the latest earnings season exposing the growing cash-flow cost of the AI boom.
The ASX 200 again illustrated it’s regained its “Mojo” on Wednesday, reversing early losses to close up +0.3%, its best close since late August - it will get another test today with the index set to open down 0.5%. Gains were again fairly broad-based on Wednesday, with more than 60% of the main board closing higher, and the miners contributing over 70% of the day's advance.
The ASX 200 surged out of the gates on Tuesday, steadily building on its early gains to finish up +1.1%, helped by broad-based buying with close to 90% of the market’s main board closing higher. The financials took over the baton from the miners in terms of market gains, but only just; the banks & Co added 34 points while the materials sector added 33 points, and importantly, there were no major groups that weighed on the index
The ASX 200 had a choppy Monday before finally closing up just +0.1%, despite the losers just nudging the number of winners. Fortunately, from an index perspective, the materials sector (+2.9%) carries more weight than the financials (-1.1%).
The storming victory by the Democrats in the US, taking both the House and Senate, was largely expected, although the emphatic nature of the result surprised many. It led to investors reassessing the risks around the AI infrastructure buildout - the “picks and shovels trade” was literally hammered.
The ASX 200 followed the US futures aggressively lower on Wednesday as it became clear that President Trump and the Republicans had lost control of both the Senate and House; the bookies got it correct.
Yesterday brought us the Melbourne Cup and another 0.25% rate hike by the RBA, taking the cash rate to 4.85%, its highest level in 18 years. The hike was totally expected, but overall the rhetoric from Michele Bullock supported our view that rates will now be on hold well into 2027, with the next move more likely to be a cut.
The ASX 200 fell away on Monday ahead of the RBA and US mid-terms, with the miners and banks, the main contributors to the index's 0.6% decline. The banks slipped despite Westpac (ASX: WBC) advancing +1% following its reasonable FY26 result, despite management warning the next 12–18 months of its UNITE transformation would be challenging - UNITE is WBC’s major, multi-year technology and operational transformation program, designed to simplify how the bank operates, reduce costs and improve customer experience.
The US Tech Sector came under further pressure last week with aggressive pullbacks from the likes of Intel (-24%), Google (-13%), Palantir (-6%), Netflix (-6%), and Meta (-3%) weighing on the indices and general market sentiment. The issue last week wasn’t bond yields, but the latest earnings season exposing the growing cash-flow cost of the AI boom.
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