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08/03/17

13:02

Post #: 23184050
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Originally posted by highlandlad ↑

Thanks Oscar and morning crew.

Half-time round-up:

Shares retreated following a downbeat session in the US overnight and ahead of the release of Chinese trade data.

At 1pm EST the ASX 200 was 123 points or 0.2% weaker at 5748 as the mood deteriorated following two days of gains for the benchmark index. A mixed session saw gains in telecoms +0.5%, consumer staples +0.2% and financials +0.1% overshadowed by falls in metals & mining -1%, utilities -0.5% and gold -0.5%.

US futures declined this morning as the prospect of a rate hike next week dampened sentiment after the 'Trump rally' catapulted the market to record heights. Dow futures were recently down 34 points or 0.16%. China's Shanghai Composite was little changed ahead of lunchtime trade figures, lately off 0.02%. Hong Kong's Hang Seng opened flat. Japan's Nikkei gave up 0.56%.

Crude oil futures sagged 35 cents or 0.66% this morning to US$52.79 a barrel. Gold futures bounced $1.70 or 0.14% to US$1,217.80 an ounce. The dollar was buying 75.96 US cents.

Soggy market at present. Feels like money is draining out of the specs. Anticipating a broader downswing? Have to wait and see. Trading: needed two swings at both GGG and LRS to get a result (in both cases one trade for brokerage, one for profit). Currently in GPP.

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*12.3 points lower.

No fat fingers please!
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