Giving you all the latest in Stock Market Information as it happens

Month: July 2015

Morning Update – Thursday 30 July, 2015

The Aussie market is poised to press higher again today, after U.S. markets extended gains overnight.

The SPI futures are pointing to a 20 point jump on the open after American stocks closed higher as the Federal Reserve offered no clear indication of the timing of the next rate hike, but left itself room to act as early as September, citing continued “solid” gains in the job market.

The S&P 500 ended up 15.32 points (+0.7%) to 2,108.6, with all 10 main sectors finishing higher.

A jump in oil prices provided support to energy stocks, while industrials and consumer discretionary sector stocks also rallied.

The Dow Jones rose 121.1 points (+0.7%) to 17,751.4, marking the fifth consecutive triple-digit move for the blue-chip index.

The tech-heavy Nasdaq ended the session up 22.5 points (+0.4%) at 5,111.7.

In the commodity space, gold added 0.2%, Brent crude put on 0.6% and iron ore surged 4.6%.

The Aussie dollar retreated and this morning is fetching just shy of 73 U.S. cents.

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Evening Update – Wednesday 29 July, 2015

The Aussie market enjoyed strong gains today, with all major sectors finishing in the green.

Materials plays led the charge, with BHP Billiton (BHP) putting on 2.1%, rival Rio Tinto (RIO) adding 1% and little brother Fortescue Metals (FMG) surging 7.4%.

Healthcare plays also stood out, with CSL Limited (CSL) adding 1.6% and moving within striking distance of the $100 level.

Resemd (RMD) put on 1.5%.

Other sectors posting solid gains were property trusts, IT and consumer discretionary plays.

Only the gold sub-sector finished in negative territory with Newcrest (NCM) the struggler, shedding 1.6%.

On the day the ASX 200 put on 40 points (+0.7%) to settle at 5624.

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Morning Update – Wednesday 29 July, 2015

The Aussie market will start on a positive note today, after U.S. markets snapped a five-session losing streak overnight.

A slowdown in China’s stockmarket rout along with better-than-expected earnings reports proved enough to spark a relief rally on Wall Street.

Traders brushed off softer economic reports, while focusing on the two-day Federal Reserve meeting, which kicked off and concludes tonight with a policy statement.

The S&P 500 index added 25.6 points (+1.2%) to 2,093.25.

The energy sector jumped 3%, following a bounce in oil prices, which settled higher for the first time in five sessions.

The Dow Jones rallied 189.7 points (+1.1%) to 17,630.3, with 27 of its 30 members finishing higher.

Exxon Mobil surged 4.1%, while Chevron rose 3.7%.

The tech-heavy Nasdaq added 49.4 points (+1%) to 5,089.2, as biotechnology stocks rose sharply.

In the commodity space, gold added 0.2%, Brent crude put on 0.8% and iron ore jumped 2.1%.

The Aussie dollar also firmed significantly and this morning is fetching 73.4 U.S. cents.

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First Look – 29 July, 2015

Good morning team, Chris Conway your Head of Research here with your First Look.

The Aussie market looks is poised to open higher later this morning, after Wall Street snapped a five-session losing streak overnight and European stocks were boosted by bargain-hunting after recent China-inspired losses.

The September SPI futures contract is up 28 points, at 5570.

No major local economic news is expected today, although the Newport annual mining business outlook report is released, as is an ANZ study into the difference in earnings between men and women.

In equities news, Beach Energy is expected to release its fourth quarter production report while Programmed has its annual general meeting.

Key numbers:

– SPI futures up 28pts at 5570

– AUD at 73.22 US cents

– On Wall St, S&P 500 1.2%, Dow +1.1%, Nasdaq +1%

– In Europe, Stoxx 50 +1.2%, FTSE +0.8%, CAC +1%, DAX +1.1%

– Spot gold gains $US1.63 or 0.2% to $US1095.61 an ounce

– Brent crude down 42 US cents or 0.8% to $US53.05 a barrel

What’s on today:

Japan retail trade, US pending home sales, Federal Reserve meeting concludes

Stocks in focus:

Negligible top-line growth for Australian general insurers over the past year heralds the onset of a cyclical downturn, the impacts of which are yet to emerge in margins, Deutsche Bank says in a note to clients.

“Against this backdrop, we continue to prefer QBE Insurance QBE (buy) over Suncorp SUN (downgraded to hold) and Insurance Australia Group IAG (hold),” the note says.

UBS has a “buy” on OrotonGroup and a 12-month price target of $2.75.

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Morning Update – Tuesday 28 July, 2015

It’s looking like another tough start for the Aussie market today, after U.S. markets followed Chinese market lower overnight.

The global equity sell-off sparked by a Chinese stockmarket rout spread to Wall Street, propelling U.S. stock indexes to their fifth consecutive session of losses.

Disappointing earnings over the past week and lackluster economic data has put pressure on the main equities, prompting traders to sell risky assets such as stocks and commodities while piling into havens such as Treasurys and gold.

The Nasdaq was hit the hardest, falling 48.9 points (-1%) to 5,039.8.

The tech-heavy index is now 3.4% below its all-time high reached a weak ago.

The Dow Jones fell 127.9 points (-0.7%) to 17,440.6, with 25 of its 30 members finishing lower.

The S&P 500 dropped 12 points (-0.6%), to 2,067.6, with nine of its 10 main sectors finishing lower.

Energy and materials stocks led the losses, while utilities were the lone bright spot, finishing 1.3% higher.

In the commodity space, gold shed 0.6% and Brent oil tumbled 3.1, whilst iron ore bucked the trend to add 1.8%.

The Aussie dollar was little changed overnight and this morning is fetching 72.7 U.S.

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Evening Update – Monday 27 July, 2015

Despite a horrible lead from Friday night, the Aussie market rallied strongly all day to end in the green – snapping a three-session losing streak in the process.

A 1% jump in BHP Billiton (BHP) led the market higher, along with a strong 4.5% jump in Westfield, which may have been buoyed by strong earnings by US bellwether Simon Property Group.

Newcrest (NCM) also had a good day, jumping 4.5%, as the gold price hovered just below $US1100 an ounce, not falling any further after last week’s sharp selloff.

The big banks were flat to slightly higher, with Westpac (WBC) the best in show, putting on 0.4%, while Telstra (TLS) added 0.5%.

On the day, the ASX 200 put on 24 points (+0.4%) to settle at 5590.

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Morning Update – Monday 27 July, 2015

The SPI futures are pointing to sharp fall on the open today, after U.S. markets and key commodities continued their recent slide on Friday night. American stocks capped a four-session losing streak with their biggest drop of the week.

Disappointing quarterly results and outlooks from several companies pulled the major stock indexes sharply lower.

New signs pointing to a slowing of China’s economy also added to jitters, bringing down the price of oil and other commodities.

While corporate profits have mostly exceeded Wall Street’s expectations so far this earnings season, traders have grown uneasy as many companies provided cautious outlooks or weak sales.

The S&P 500 ended down 22.5 points (-1.1%) to 2,079.7, while the Dow Jones 163.4 points (-0.9%) to 17569.

The Nasdaq lost 57.8 points (-1.1%) to 5,088.6.

In the commodity space, Brent oil slipped 1.2% whilst iron ore shed 0.6%.

Gold bucked the trend to add 0.8%.

The Aussie dollar sold off sharply and this morning is fetching 72.8 U.S. cents.

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Morning Update – Wednesday 15 July, 2015

The SPI futures are pointing to a positive start for the Aussie market today, after U.S. markets extended gains to a fourth consecutive session overnight.

American stocks steadily drifted higher as traders took stock of disappointing June retail sales numbers and how the data factor into the Federal Reserve’s plans for a rate hike.

Sales at retailers fell 0.3% last month, while the prior two months’ results were cut.

Weaker economic growth may delay the first rate hikes as the Federal Reserve tries to find a balance between normalizing rates and accommodating an uneven recovery.

The S&P 500 added 9.4 points (+0.5%) to close at 2,109.

The Dow Jones gained 75.9 points (+0.4%) to close at 18,053.6.

The Nasdaq moved up 33.4 points (+0.7%) to finish at 5,104.9.

In the commodity space, gold shed 0.2%, iron ore slipped 0.5% and Brent crude added 0.9%.

The Aussie dollar firmed overnight and this morning is fetching 74.5 U.S. cents.

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Evening Update – Monday 13 July, 2015

An hour out from the close it was looking like the Aussie market was going to book a positive start to the new trading week….then the selling began.

With 60 points wiped off the index in the final 60 minutes, the ASX 200 booked an 18 point (-0.3%) loss on the day.

Energy and materials plays were the poorest performers, whilst financials also weighed.

Santos (STO) was the worst of the oilers, losing 1.8%, whilst amongst the miners, Fortescue Metals (FMG) slumped 5%.

All of the big four lost ground, with ANZ Bank (ANZ) the worst in show, giving up 1.1%.

Having a better time of it, healthcare stocks were the best performers, supported by the gold sub-sector.

Cochlear (COH) was the big mover in the health space, jumping 6.4%, whilst Newcrest (NCM) put on 1.1%.

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Morning Update – Monday 13 July, 2015

The Aussie market is poised to open sharply higher today, following some developments regarding Greece this morning.

Prime Minister Alexis Tsipras has submitted a proposal similar to the one presented by creditors last month, in a last-ditch effort to keep the country in the euro.

The package of reforms and spending cuts, including pension savings and tax increases, was sent to creditors overnight and will be presented to the Greek Parliament this evening.

The developments have seen the SPI move from down 20 points to up 60 points in very quick time.

It makes what happened overnight redundant for the most part, but here is a quick summary anyway; Dow Jones up 34 points (+0.2%), S&P 500 up four points (+0.2%), Nasdaq up 12 points (+0.3%).

Commodities were mainly stronger, with iron ore rebounding 10% after yesterday’s 10% plunge.

Spot gold firmed slightly and Brent crude added 2.6%.

This morning the Aussie dollar is fetching 74.6 U.S. cents.

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