daytrading jan 25 afternoon

Thanks Endless.

Half-time round-up:

A record profit result from Apple gave Australian shares a leg-up this morning as US futures rallied following the tech icon's after-market earnings report.

At lunchtime the ASX 200 was ahead 29 points or 0.7% at 4253 after earlier touching its highest level since mid-December. The big banks accounted for much of the rally, driving the financial sector up 1.8%. Other pockets of strength were industrials +0.7% and property trusts +1%. Energy was the weakest of the sectors, falling 0.5%.

Asian markets were boosted by a jump in US futures after Apple doubled its quarterly profit. Japan's Nikkei rallied 0.87%. China and Hong Kong were closed for Lunar New Year holidays. Dow futures were recently up 20 points or 0.2%.

A tepid inflation report this morning left the Reserve Bank plenty of room to cut interest rates next month. Consumer prices were unchanged last quarter and headline CPI was the lowest in a year at 3.1%.

"We think the RBA will cut interest rates next month because the inflation numbers today were low enough to allow them to do that," HSBC economist Paul Bloxham told Fairfax. "But the key reason for cutting rates will be the softening labour market and the global slowdown."

Crude oil futures were flat this morning at US$99.16 a barrel. Spot gold was 20 cents softer at US$1,666.10 an ounce. The dollar was buying US$1.0508.


Nice to get something back from Apple after shelling out so much over the decades for Macs, iPods, etc. I used this morning's rally to sell the last of some AAC acquired weeks ago and GNC from late yesterday after the house-guests had hit the road. Recently added a few ALL on pullback but may be a day or two early.