Australian shares are heading into Week 34 on a down note, -0.35%, though considering how many all-time highs and strong advances we saw in the last few trading days, it’s absolutely no surprise investors are playing it safe.
Listen to the HotCopper podcast for in-depth discussions and insights on all the biggest headlines from throughout the week. On Spotify, Apple, and more.
The S&P 500 is already teetering on a similar drop after its “unprecedented” five consecutive highs in a row through W33 on Wall Street.
And the FTSE has similarly tracked red, losing -0.4% at London’s last close.
Down Under, a large majority of Oz traders are starting to get a little edgy with all the green arrows, and many are expecting a pullback to start with the Federal Reserve’s moot at Jackson Hole a little later on this week.
So too with earnings: Oz investors seem happy to wait and see how several upcoming bluechip reports shape out before funnelling more cash into the rally. Bourse heavyweights like BHP Group (ASX:BGP), CSL Ltd (ASX:CSL), Woodside Energy (ASX:WDS), and Goodman Group (ASX:GMG) are all on the agenda.
Today specifically, BlueScope (ASX:BSL) and Ampol (ASX:AMP) headline reporting.
Considering bad results oft come late, anything could happen this week.
Also in company news, all eyes now turn to Qantas (ASX:QAN), after the Federal Court found that it had illegally sacked 1,800 ground staff during Covid-19. The Aussie airline is on the hook for at least $120M in compensation.
And, DigiCo (ASX:DGT) has today appointed Chris Maher as its new CEO, “as the organisation shifts from integration towards accelerated growth.”
More market news
Gov’t help: Oz commodity supports likely, but not with Trumpian flair
Within scope: Mandatory Scope 3 emissions reporting is here – why that’s important
In forex, the Aussie dollar buys 65.1 US cents.
And to commodities, all in the greenback,
Iron Ore has been selling flat early this week, at $102.25 a tonne in Singapore,
Brent Crude is at $65.73,
Gold is down slightly at $3,338 per ounce, and,
US natgas futures head into the week at $2.87 per gigajoule.
That’s HotCopper’s Market Open, I’m Isaac McIntyre – good luck and happy trading.
Join the discussion: See what’s trending right now on Australia’s largest stock forum and be part of the conversations that move the markets.
The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please clickhere.