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a couple that stood out lst night ZIP nice volume good depth...

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15/11/23

08:28

Post #: 70905112
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Originally posted by highlandlad: ↑

Morning traders. Thanks loungers, especially @Ravgnome and @Patterns. Huge session overnight on Wall Street - possible sea change in market sentiment.

Outlook for the day: Highly positive as evidence of weakening inflation fuels strong gains in US stocks as traders slash their bets on further interest rate hikes.

ASX futures: up 91 points or 1.3%

Overnight themes:
US stocks soar as a cooldown in inflation sharpens expectations that the top for this interest rate cycle is in.
The S&P 500 and rate-sensitive Nasdaq rally to their highest in two months after October core and headline inflation come in weaker than expected. The S&P 500's 1.91% gain is its largest since April.
The year-on-year increase in the Consumer Price Index falls to 3.2% last month, down from 3.7% in October. Economists had expected a reading around 3.3%. Core annual inflation, which strips out volatile food and energy prices, drops to 4%, the lowest in two years and also below expectations.
"We're happy to see both headline and core CPI come in lower than expected. It's telling us that the Fed is done, there's nothing left for it to do here" - Thomas Hayes, chairman at hedge fund Great Hill Capital.
The odds on "no change" at next month's Federal Reserve rates meeting hit 100%, according to CME Group's Fedwatch tool. Futures markets start to price in rate cuts as soon as next May.
US treasury yields fall sharply. The yield on 10-year government treasuries drops 19 basis points to 4.445%. (Stocks cratered last month when the 10-year yield pushed briefly above 5%.)
Small caps outperform. The Russell 2000 index flies up 5.34% to a six-week high.
The most rate-sensitive sectors post substantial gains. Real estate pops 5.32%. Utilities gains 3.94%. The consumer discretionary and materials sectors both add more than 2.9%.
The Australian dollar jumps 2% as forex traders revise their expectations for the US rates outlook.
Gold surges from under US$1,950 an ounce to trade briefly above US$1,970. Silver also rises. The NYSE Arca Gold Bugs index of US precious metal miners pops 5.57%.
Iron ore trades near a two-and-a-half year high in China, while Singapore ore prices ease 0.8% as the market heads into the seasonally-weak Chinese winter. Galaxy Futures warns steel demand fell last month as temperatures dropped.

Key events today:

Q1 wage price index - 11.30 am AEDT
China October economic update (factory output, retail sales, etc) - 1 pm AEDT
US retail sales, wholesale inflation - tonight

S&P 500: up 84 points or 1.91%

Dow: up 490 points or 1.43%

Nasdaq: up 327 points or 2.37%

Dollar: up 2% to 65.07 US cents

Iron ore (Dalian): up 0.3% to US$132.39

Brent crude: down 5 US cents or 0.06% to US$82.47

Gold: up US$16.30 or 0.83% to US$1,966.50

NYSE Arca Gold Bugs: up 5.57%

Bitcoin: down 3.17% to US$35,316

Copper (LME): up 0.56% to US$8,212.50

Nickel (LME): up 0.4% to US$17,425

Uranium: steady at US$74.75

Lithium carbonate (China spot): down 1.32% to US$20,900.68

Global X Lithium & Battery Tech ETF: up 3.76%

BHP: up 3.89% (US); up 1.76% (UK)

Rio Tinto: up 3.4% (US); up 2.11% (UK)

Expand

Originally posted by Patterns: ↑

Some shares worth looking at today. Gold bugs were delighted with the massive trading range expansion overnight.
BGD 0.235 looking for a range expansion to 0.2887

Expand

a couple that stood out lst night ZIP nice volume good depth sort of a saucer maybe will consolidate at resistance but worth a look BC8 heading into resistance but worth watching imo E25 at resistance 2days of increasing volume great depth pretty keen on this will be watching have a good day
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