Afternoon trading January 16

  1. 15,302 Posts.
    lightbulb Created with Sketch. 6
    Thanks @shovel40, @Fiji1, @uncleBuck and morning crew.

    Half-time wrap:

    The share market climbed towards its strongest gain of the new year as an up-tick in unemployment and cooler-than-expected core US inflation kept interest rate cuts in the frame this year.


    The ASX 200 soared 108 points or 1.31% by mid-session, mirroring a massive overnight relief rally on Wall Street following December inflation data and a strong start to a new earnings season.

    Rate-sensitive property trusts, banks and tech stocks spearheaded this morning's charge. Standouts included Neuren Pharmaceuticals, Star Entertainment and Zip Co. Goodman Group, James Hardie and Macquarie Group were the pick of the heavyweight gainers.

    The market held on to most of its early gains following mid-morning news that the jobless rate rose to 4% last month from 3.9% in November, as forecast. Total employment increased by 56,000.

    The S&P 500 jumped 1.83% overnight as financial markets priced in two rate cuts this year after core inflation ticked lower towards the Federal Reserve's target range.


    Personal trading: Never found it easy to trade these boom days when everything opens sky-high. Took SVY and CPU on retrace. Wavered too long during the early retrace in CND and missed that chance for big cookies. Well done to those on it.
    Last edited by highlandlad: 16/01/25
 
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.