Thanks Beany and morning regulars.
Half-time round-up:
Australian shares have a near seven-year high within reach as gains in industrials and consumer stocks offset weakness in energy and select yield sectors.
At lunchtime the ASX 200 was six points or 0.1% ahead at 5957 and within a couple of points of the March 2 closing peak at 5959, the highest since March 2008. The market shrugged off early losses sparked by an overnight retreat on Wall Street. Notable gains included industrials, consumer staples and gold, all up 0.6%. Holding the market back were property trusts -0.4%, energy -0.3%, utilities -0.3% and telecoms -0.3%.
“A sense of reality returned to markets overnight after the post-FOMC [Federal Open Market Committee] shenanigans,” Cameron Bagrie, chief economist at ANZ Bank New Zealand, told Bloomberg. “The long-run outlook for gross domestic product and inflation in the US is solid and there is still clear divergence on offer between the Fed and ECB and BOJ policy.”
China's Shanghai Composite eased 0.16%, Hong Kong's Hang Seng 0.18% and Japan's Nikkei 0.06%. Dow futures were recently trading 27 points or 0.15% ahead.
Crude oil futures slipped five cents this morning to US$43.91 a barrel. Spot gold was $3 firmer at US$1,172 an ounce. The dollar was buying 76.76 US cents.
A pretty robust market performance, considering the headwinds. Bit of profit taking among yesterday's best performing sectors, but generally very bullish, especially for a Friday. Surprised the thread hasn't latched onto BIG - can only imagine CGull's reaction when he sees that company's name... The mods would have to hose him down. Trading: been a morning of under-achievement and missed opportunities. Too hesitant when opportunities presented - often the case at the end of a successful week. Wins in KAR and TGA, but even there the profits should have been fatter.
- Forums
- ASX - Day Trading
- Daytrading March 20 afternoon
Daytrading March 20 afternoon
-
- There are more pages in this discussion • 376 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)