Afternoon trading Nov 3

Thanks Oscar and morning crew.


Half-time round-up:

The ASX 200 broke to a two-and-a-half-year high as improving commodity prices offset weak retail sales.

The benchmark index peaked at 5966 this morning, its strongest reading since May 2015, and was up 31 points or 0.5% at the halfway market at 5963. Heading the rally were gold stocks +2%, industrials +1%, metals & mining +0.9% and energy +0.6% after nickel recorded its best price in five years and crude oil its highest close in more than two years.

The market shrugged off news that retail sales failed to rebound in September from a 0.6% decline in August. The dollar eased roughly a fifth of a cent to 76.92 US cents as sales held steady, dampening hopes that the economy was gathering momentum. Read more here.

China's Shanghai Composite slid 0.23%, while Hong Kong's Hang Seng added 0.17%. Trade in Japan was suspended for a public holiday . Dow futures were recently ahead 19 points or 0.08%.

Crude oil futures rallied 26 cents or 0.48% this morning to US$54.80 a barrel. Gold futures inched up 40 cents or 0.03% to US$1,278.40 an ounce.


Good to see the XJO finally follow the XAO into blue sky. Plenty of upside overhead before any significant resistance if global sentiment remains upbeat. Trading: took a pip out of RFN. Pullback dabble in NOV, intraday only. MUS coming back towards possible entry levels but safety net says not yet. Would like to see a good washout plunge first. May not happen.