Afternoon trading January 31, page-3

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Cheeky-Charm

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31/01/24

13:04

Post #: 72158647
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Originally posted by highlandlad: ↑

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.

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Always enjoy your posts @highlandlad

"Turgid" learnt a new word cheers I thought you were remixing 2 words like turd and something else together Hahhaahaha!!

I am on 3 stocks AMI short SYR Long EMV Long
drawdowns on all 3 hehe
-$45 AMI
-$140 SYR
-$20 EML

Nothing to cut at all but thats all my capital left, not enough remaining in acc to take anything but I would have taken LRS

BPH wants to try and hold but max downside 3.3c still

Last edited by Cheeky-Charm: 31/01/24
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