As always, very grateful to you for the global outlook to start...

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PL24682468z

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27/06/23

08:06

Post #: 68482656
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Originally posted by highlandlad: ↑

Morning traders. Thanks loungers, especially @Ravgnome and @Patterns.

Outlook for the day: Positive as speculators look for a rebound from four straight losses and a three-month low.

ASX futures: up 20 points or 0.28 %

Overnight themes:
Wall Street retreats as risk-aversion following a weekend mutiny in Russia encourages investors to book profits on this year's best-performing stocks.
Nvidia, Alphabet and Meta lose at least 3%. A downgrade from Goldman Sachs drives Tesla down 6.06%.
The Russell 2000 index of small caps edges up 0.09% amid signs of some rotation from this year's success stories to unloved parts of the market. Value stocks outperform growth stocks.
"Out of favour themes for 2023 are working for today. Maybe in the absence of a real risk on or risk off day you go bargain hunting" - Chris Zaccarelli, chief investment officer at Independent Advisor Alliance.
The real estate sector jumps 2.2%. Also positive are energy, materials, utilities and industrials.
ASX heavyweights BHP and Rio Tinto rebound in overseas trade despite a near two-week low in iron ore.
Gold edges higher with other safety plays following an aborted mercenary mutiny against President Vladimir Putin in Russia over the weekend. Bonds also rise.

Key events today:
US consumer confidence, house sales - tonight

S&P 500: down 20 points or 0.45%

Dow: down 13 points or 0.04%

Nasdaq: down 157 points or 1.16%

Dollar: down 0.05% to 66.77 US cents

Iron ore (Dalian): down 0.44% to US$110.21

Brent crude: up 33 US cents or 0.45% to US$74.18

Gold: up US$4.20 or 0.2% to US$1,933.80

NYSE Arca Gold Bugs: up 0.92%

Copper (LME): down 0.03% to US$8,388

Nickel (LME): down 4.79% to US$20,375

Global X Lithium & Battery Tech ETF: up 0.38%

BHP: up 0.4% (US); up 0.11% (UK)

Rio Tinto: up 0.38% (US); up 0.83% (UK)

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As always, very grateful to you for the global outlook to start the day.

Looks to me like still a lot of profit taking and tax loss selling.
Having capital not tied up is advantageous this week and next for a low entry to stocks.
Safe trading
Last edited by PL24682468z: 27/06/23
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