Stock indexes are little changed this morning as global markets consolidate recent gains.
At lunchtime the ASX 200 was down 6 points or 0.14% at 4671. The two main drivers of the market, financials and miners, were little changed. Property trusts were the main drag at -1.1%, followed by energy, down 0.9%. IT was the brightest sector at +2.2%, followed by gold, up 0.7%.
Asian markets were mixed. Hong Kong rose 0.29%, Shanghai slipped 0.2% and Singapore added 0.64%. Japan was closed for a public holiday. Dow futures were positive at +20 and improving. Crude oil futures have been recovering this morning, up more than 60 cents to $70.16.
Solid morning here. Bought VBA on the US overnight airline action and breakout potential. Took advantage of the post-share-issue selldown in NQM for a decent scalp. Also scalped BCN. Small speculators recently taken in PDY and CDU, looking for bounces from here.
Potential overnight holds: TPI looks like breaking out of a shallow rising wedge. VBA looks like a hold if it closes at these levels. Perhaps CFU or CUE.
