登录查看更多内容

Monthly Report - Australia - July 2024 and June 2024

Paul Young

Experience Senior Financial Planning, Analysis and Reporting SME seeking P/T or F/T job.

发布日期: 2024年7月31日

The S&P/ASX 200 rose one hundred and thirty-nine point five points today.

It was so good I had to spelt it out.

I don't need to spell out to you just how important today's June CPI data was in sparking the celebrations. 0.2% quarter on quarter. That's the difference between the +0.8% quarterly change in prices across the Australian economy the CPI reflects, and the +1.0% change economist were forecasting.

Ecstasy and agony are often defined by very small margins in the stock market! I, and I'm sure you, don't care what the margin was...we will gladly take today's win!

Even better, if the technicals of today's session are anything to go by – i.e., a long white candle closing smack-bang on the high of the session, a record high close, as well as market breadth in the broader-based S&P/ASX 300 showing a near-unanimous 262 to 18 gainers versus decliners – in theory there should be plenty more wins to come. ??

It just doesn't get any better...and on that cheery note...

The S&P/ASX 200 (XJO ) finished 139.1 points higher at 8,092.3, 1.75% from its session low and smack-bang on its session high. In the broader-based S&P/ASX 300 (XKO ), advancers beat decliners by a near-unanimous 262 to 18.

Both aspects are important because broad-based moves that close at the high of the session are more likely to be sustainable.

All 11 of the major ASX sectors were up today, and most of those sported gains in excess of the XJO’s 1.75%. The Information Technology (XIJ ) (+2.5%) was the best performing sector today, it’s a high growth-high PE sector. It’s been suffering lately under the weight of a rotation out of these types of stocks in the US, and the prospect of higher interest rates locally. High PE stocks are discounted more punitively when rates go up – so today’s move demonstrates a great sigh of relief that the CPI data shouldn’t rile the RBA at its meeting next week.

Consumer Discretionary (XDJ ) (+2.3%), Communication Services (XTJ ) (+1.9%) are two other high-PE sectors, and the XDJ has obvious reasons to rejoice a lower likelihood of the RBA increasing rates again. Real Estate Investment Trusts (XPJ ) (+1.9%) are the other key group of ASX stocks that rejoice in lower market rates (they’re usually big balls of debt!).

Source - https://www.marketindex.com.au/news/evening-wrap-asx-200-soars-as-august-rba-rate-hike-evaporates-into-a-haze-of

Cost of Living and Inflation – Australia – June 2024 - https://www.dhirubhai.net/pulse/inflation-australia-june-2024-paul-young-l1flc/

Blog – Housing and Real Estate – Australia – June 2024 - https://www.dhirubhai.net/posts/paul-young-055632b_australia-is-struggling-with-affordability-activity-7224031437212041218-Zjrk?utm_source=share&utm_medium=member_desktop

Retail and Consumer Spending – Australia – June 2024 - https://www.dhirubhai.net/pulse/retail-sales-consumer-spending-australia-june-2024-paul-young-bhlvc/

PMI

Source - https://www.pmi.spglobal.com/Public/Home/PressRelease/4d9038916eb141e696a778993b459cc7

Raoul Pal 1 年前

OTC Desk Market Update | What’s Next After the…

Ndax 2 个月前

Sizing up opportunities in small caps and REITs

Saira Malik 6 个月前

Here is a bit more color:

Paul is a former IBM Customer Success Manager that has deployed over 300 data and AI solutions across industry and geographies for the past 8 years. Paul is a Financial Planning, Analysis, and Reporting SME working with data including integration of macro and micro indicators as part of the integrated business planning and reporting cycle.

[email protected]

?7 CFO tips for yielding high ROI during the rush into generative AI - https://www.dhirubhai.net/pulse/7-cfo-tips-yielding-high-roi-during-rush-generative-ai-paul-young-lw6yc/

#GenerativeAI

#ROI

#Security

#DataQuality

#Datagovernance

#scaling

#performance

#modeling

#machinelearning

#badactors