Australia's largest stock trading and investment forum Australia's #1 stock forum

That's bad news @highlandlad.Thanks for being forthcoming -...

First 2 Last

Share
Profile

Follow
SallySet

5,742 Posts.

1066

30/07/24

13:04

Post #: 74981281
Share

Originally posted by highlandlad: ↑

Thanks @shovel40, @Fiji1 and morning crew.

Half-time wrap:

The share market stepped back as risk aversion set in ahead of inflation data tomorrow that could potentially force interest rates higher.

The ASX 200 slumped 51 points or 0.64% towards its first loss in three sessions. Resource and tech stocks led a retreat that lowered all sectors.

The fall followed a marking-time session in the US ahead of a Federal Reserve rates decision, jobs data and trading updates this week from four of the Magnificent Seven. The S&P 500 and Nasdaq inched up less than 0.1%. The Dow eased 0.12%.

A 6.5% drop in building approvals last month added to evidence of strains on the Australian economy ahead of tomorrow's fourth-quarter Consumer Price Index report. Some economists argue an annual inflation reading above 4% could seal another rate hike. However, the consensus among economists is for a decline in annual headline inflation to 3.8%.

Personal trading: Well, as foreshadowed yesterday, I took a deep bath this morning in RCR. After yesterday's collapse, the company had the gall to attempt the Vicky Pollard defence: no, but yeah. No, we have no idea why the share price plunged 25% yesterday, but since we're talking, here are some lousy drilling results that definitely don't explain it. Yeah... Draw your own conclusions. I was careless with my position-sizing and slow to read the tea leaves yesterday - that's on me - so I've blown up a month's earnings. How many people can say they achieved that at work today? Not many. Let's hear it for trading. Yeah! Woo! Spare change, mister?

Expand

That's bad news @highlandlad.

Thanks for being forthcoming - shows why you have been trading for so long.
10 Upvote

Reply

Top Stories

ASX Market Open: Tech stock rally pushes Wall Street and ASX200 higher | October 9, 2024

MLS

Metals Australia gears up to drill Big Bell North gold project targeting untapped greenstone

OCC

Orthocell wins first international approval for nerve repair product

EQN

Equinox makes REE and titanium dioxide discovery at Brazil's Mata da Corda

SNX

Sierra Nevada Gold taking an RC rig to Blackhawk, Nevada – in the hunt for silver

There are more pages in this discussion • 148 more messages in this thread...

First 2 Last

That's bad news @highlandlad.Thanks for being forthcoming -...

ASX Market Open: Tech stock rally pushes Wall Street and ASX200 higher | October 9, 2024

Metals Australia gears up to drill Big Bell North gold project targeting untapped greenstone

Orthocell wins first international approval for nerve repair product

Equinox makes REE and titanium dioxide discovery at Brazil's Mata da Corda

Sierra Nevada Gold taking an RC rig to Blackhawk, Nevada – in the hunt for silver

Featured News

Featured News

That's bad news @highlandlad.Thanks for being forthcoming -...

Top Stories

ASX Market Open: Tech stock rally pushes Wall Street and ASX200 higher | October 9, 2024

Metals Australia gears up to drill Big Bell North gold project targeting untapped greenstone

Orthocell wins first international approval for nerve repair product

Equinox makes REE and titanium dioxide discovery at Brazil's Mata da Corda

Sierra Nevada Gold taking an RC rig to Blackhawk, Nevada – in the hunt for silver

Featured News

Featured News