daytrading aug 9 afternoon

Thanks Endless.

Half-time round-up:

Shares are well placed to extend their winning run to a fourth session after a fall in the unemployment rate and benign inflation figures from China.

At lunchtime the ASX 200 was ahead by eight points or 0.2% at 4321 as strength in resource stocks, utilities, health and industrials offset a weak morning for telecoms, financials and consumer stocks.

The market recorded a fresh 13-week high after the 11.30am EST release of employment data and Chinese inflation numbers. The unemployment rate eased a tenth of a percentage point last month from a revised 5.3% in June to 5.2% as the economy added 14,000 jobs. Both figures exceeded economists' expectations.

"These are Goldilocks jobs numbers - not too hot, not too cold," St George Bank economist Janu Chan told Fairfax.

Consumer inflation in China eased from growth of 2.2% in June to 1.8% last month, giving the central bank plenty of wiggle room for more monetary easing. Producer prices contracted at 2.9% year on year, compared to a rate of 2.1% the previous month. Read more here.

Asian markets were mixed. Japan's Nikkei rallied 0.43%, Shanghai dropped 0.41% and Hong Kong's Hang Seng put on 0.63%. Dow futures were recently up 27 points or 0.2%.

Crude oil futures rallied 17 cents this morning to US$93.59 a barrel. Spot gold firmed $2 to US$1,616.90 an ounce. The dollar was buying $US1.0599.


Looking good for four in a row, barring surprises in the 3.30pm EST Chinese data. Shanghai was shaky this morning but oil, gold and US futures are all positive. Well done to the AOC surfers. That's it from me, folks, until Monday Aug 20. I'm trusting you to keep the market bubbling upwards until then. All the best.