Stock Market - Australia - November 29, 2024

The S&P/ASX 200 (XJO) finished 8.1 points lower at 8,436.2, 0.55% from its session low and just 0.10% from its high. In the broader-based S&P/ASX 300 (XKO), advancers pipped decliners by a narrow 144 to 129. For the week, the XJO finished up 42.4 points or 0.51% higher, 1.0% from its intraweek low and 0.48% from its intraweek high.

It was the kind of quiet you’d expect from the Aussie market following a non-trading day in the USA overnight (Thanksgiving), and ahead of likely very subdued trading in an abbreviated trading session tonight.

The gold price has rallied modestly. Gold stocks rallied modestly in today’s trade. This helped the Gold (XGD) (+1.06%) sub-index took out the honour of best performing sector today.

The iron ore price has rallied modestly. Iron ore stocks rallied modestly in today’s trade, helping the Resources (XJR) (+0.84%) to the honour of second-best performing sector today.

Apart from those two obvious ones, the rest of the pack was rather mixed. Information Technology (XIJ) (+0.48%) made it five wins from five sessions this week. I suggest it's a case of the big fund managers riding their winners.

Energy (XEJ) (+0.09%) didn’t fall for once, in a week in which the sector lost over 3% of its value, making it the worst weekly sector performer (it’s also the worst sector performer over the last 12-months).

Source: ASX

?

?

1. GDP / Australia - https://www.macrobusiness.com.au/2024/11/australias-record-per-capita-recession-gets-extended/
2. Mining - https://investingnews.com/wa-government-lithium-support-program/
3. Natural resources - https://www.controlrisks.com/our-thinking/insights/is-australia-still-a-safe-haven-for-resource-sector-investment
4. Productivity - https://www.theaustralian.com.au/subscribe/news/1/?sourceCode=TAWEB_WRE170_a_GGL&dest=https%3A%2F%2Fwww.theaustralian.com.au%2Fnation%2Ftreasurers-meet-to-tackle-the-nations-low-productivity-problem%2Fnews-story%2F5e00d9264de91600db7e3b7d986d92db&memtype=anonymous&mode=premium or https://ministers.treasury.gov.au/ministers/jim-chalmers-2022/media-releases/treasurers-advance-national-economic-reforms
5. Housing - https://ministers.treasury.gov.au/ministers/jim-chalmers-2022/media-releases/treasurers-advance-national-economic-reforms
6. Agriculture - https://nff.org.au/media-release/farmers-welcome-halting-of-super-tax-government-competition-and-supermarket-reforms/
7. Fiscal gap - https://www.fitchratings.com/research/international-public-finance/australian-states-fiscal-dynamics-28-11-2024
8. Inflation - https://www.abc.net.au/news/2024-11-27/inflation-australia-october-2024-monthly-cpi-interest-rates-rba/104652080
9. Innovation - https://www.aigroup.com.au/news/reports/2024-economics/australian-ceo-expectations-2024/
10. Energy Management - https://petroleumaustralia.com.au/news_article/australias-energy-security-at-risk-as-seismic-survey-debate-intensifies/

?

?

?

?

?

?

Paul is a former IBM Customer Success Manager who has deployed over 300 data and AI solutions across industries 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]

?10 Best Small-Cap Stocks to Buy for 2025 - https://www.dhirubhai.net/posts/paul-young-055632b_10-best-small-cap-stocks-to-buy-for-2025-activity-7253319968891494400-NDn4?utm_source=share&utm_medium=member_desktop

Seeking employment - https://www.dhirubhai.net/posts/paul-young-055632b_hi-all-linked-in-followers-and-contacts-activity-7199365291288506369-qGVf?utm_source=share&utm_medium=member_desktop

?Courses?—? https://www.dhirubhai.net/posts/paul-young-055632b_activity-7163302861974519809-ryf3?utm_source=share&utm_medium=member_desktop

?

Stock Market US - https://www.dhirubhai.net/posts/paul-young-055632b_monthly-roundup-november-shaping-up-good-activity-7266050756175101952-o0vp?utm_source=share&utm_medium=member_desktop

?

Stock Market – Australia – November 22, 2024 - https://www.dhirubhai.net/pulse/stock-market-australia-november-22-2024-paul-young-n3cuc/

?

Canada Stock Market for the Week-Ending November 22, 2024 - https://www.dhirubhai.net/pulse/canada-stock-market-week-ending-november-2022-paul-young-yaxnc/

?