Thanks @shovel40, @Fiji1 and morning crew.
Half-time wrap:
Aussie shares re-tested record levels as a cooler-than-expected inflation reading sharpened hopes of interest rate cuts.
The ASX 200 swung from a 30-point first-hour loss to a mid-session gain of 21 points or 0.28%. The index jumped briefly to within half a point of its 2021 intraday record before paring its rally.
Stocks surged on news the monthly Consumer Price Index indicator dropped to 3.4% last month from 4.3% in November. Economists had been expecting a more modest contraction in inflationary pressures to 3.7%.
The annual rate was a two-year low of 4.1%, down from 5.4%. The annual trimmed mean dropped for a fourth quarter to 4.2% from 5.1% in Q1.
Money markets reacted by bringing forward the expected first rate cut this year to August from September and pricing in one more cut before year-end. The dollar declined 0.3% to 65.74 US cents.
The market's early weakness came as poorly-received after-hours trading updates from Microsoft and Google parent company Alphabet weighed on US equity futures. S&P 500 futures slumped 0.36%. Nasdaq futures shed 0.8%
Personal trading: Got a profit from MKL from yesterday's buy, but struggled to get anything new underway. Turgid spec market these last couple of sessions.
- Forums
- ASX - Day Trading
- Afternoon trading January 31
Thanks @shovel40, @Fiji1 and morning crew. Half-time wrap:...
-
- There are more pages in this discussion • 128 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)