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Afternoon trading November 10, page-3

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Veritas2000

12,542 Posts.

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10/11/23

13:04

Post #: 70831284
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Originally posted by highlandlad: ↑

Thanks @shovel40, @Fiji1, @Patterns and morning crew.

Half-time wrap:

The end of Wall Street's longest winning run in two years fuelled an ASX reversal amid renewed questions about the outlook for global rates.

The ASX 200 dropped 33 points or 0.48% by mid-session, unwinding its slender gain for the week. Utilities, banks and energy producers led a retreat that lowered all sectors except materials.

The big three bulk metal miners - BHP, Rio Tinto and Fortescue Metals - were shielded from the setback by a 16-month high in Chinese iron ore prices. BHP gained 0.82%. Rio Tinto added 1.1%. Fortescue tacked on 1.34%.

US stocks suffered their first significant reversal in more than a week and a half after Federal Reserve Chair Jerome Powell said the central bank was not confident it had done enough to tame inflation. The prospect of higher rates sent the S&P 500 down 0.81% to its first loss in nine sessions.

Personal trading: Slimmer pickings this morning, I thought, despite some courageous attempts to talk up the few announcements that generated some heat. I stuck to my knitting. Couple of pips from XAM on the way down. Used centrepoint entry in PCL once again.

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"I stuck to my knitting."......

Nice pair of socks you created...
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