XJO 0.45% 7,014.2 s&p/asx 200

Charting and Chat

  1. 8,885 Posts.
    lightbulb Created with Sketch. 2687

    I tried yesterday to post yesterday a rather long discussion of markets from Friday, but the formatting didn't transfer properly to Hot Copper. Today is my usual day for my Weekly Report - which probably would have suffered yesterday's fate if I tried to post it in one go. So I'll try to post it in piecemeal bits. Here's the first bit:

    A week is a long time in politics and the markets:

    The warm fuzzies from the Coalition election win in the previous week disappeared this week as international worries dominated the market. XJO down this week -0.92%. That compares with the SP500 -2.62%, European Top 100 -1.83%, Japan's Nikkei -2.44%, China88 -0.68%.

    The only sector up this week was Telecommunications (XTJ) +1.37%. Gold Miners (XGD) benefitted from the global issues, +1.2%. The worst performers were Utilities (XUJ) -2.69%, Property -2.83%, Consumer Staples -2.93% and Energy -2.29%.

    This provides us with a conundrum. Three out of four of the worst performers were defensives, often benefitting from news of interest rate cuts. These are expected at the next RBA meeting. Maybe that news is already built into prices before this past week? Those sectors may also be affected by shifts out of the defensives which had benefitted from the perception that Labor would win the election, and now those sectors are self correcting.

    Weekly Sector Performances:

    This image has an empty alt attribute; its file name is screen-shot-2019-06-02-at-11.48.10-am.png
watchlist Created with Sketch. Add XJO (ASX) to my watchlist
(20min delay)
Mkt cap ! n/a
Open High Low
6,982.7 7,055.7 6,982.7
XJO (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.