Stock Market - Australia - September 20, 2024







Tabcorp Nuix Life360 Objective Corporation AUTOMOTIVE EXPERTS De Grey Mining Ltd





Star Minerals (ASX: SMS) Metal City Fab WIA Gold

The S&P/ASX 200 closed 17.6 points higher, up 0.22%.

Every day this week the benchmark S&P/ASX 200 closed at a new record high.

Say that out loud. It's pretty impressive. Today, we also logged our first close above 8,200. Remember all the way back when in ChartWatch we'd ponder the ASX 200 achieving an "8-handle"? Well it's very much a reality now.

Despite this week's heroics, it was a quiet session as investors mainly took stock of what has been achieved, both in terms of price gains, but also with respect to dispensing with two major risk events in the form of the US FOMC meeting (50bp cut - check!), and today's Bank of Japan meeting (no change - check!).

Keep scrolling/click through for the usual reporting of today's major sector and stock-specific moves, the broker responses to them, as well as all of the key upcoming economic data in tonight's Evening Wrap.


The S&P/ASX 200 (XJO) finished 17.6 points higher at 8,209.5, 0.45% from its session high and just 0.26% from its low. In the broader-based S&P/ASX 300 (XKO), advancers beat decliners by a narrow 144 to 127.

For the week, the XJO finished up 109.6 points or 1.35% higher, 1.35% from its intraweek low and just 0.45% from its intraweek high.

There weren’t any major themes today, it was really just shuffling of the deck chairs among the better performing sectors with the exception of Real Estate Investment Trusts (XPJ) (-0.64%) – the worst performing sector today on a modest rise in local market yields (or just some Friday profit taking after a very strong week).

Consumer Discretionary (XDJ) (+1.2%) topped the pops, there were several strong performances here, led by two of my most featured ChartWatch Downtrends Lists stalwarts (yes – much to my surprise!) in Tabcorp (ASX: TAH) (+5.8%) and Domino's Pizza Enterprises (ASX: DMP) (+4.0%). I get the old saying that every dog has its day, but is it just a case of today was that day – or is there something more interesting going on in each? I will leave the analysis of their charts as your weekend homework!

Gold (XGD) (+0.74%) was also pretty good – gold (and silver) prices edged up again last night/in Asian trade today). Information Technology (XIJ) (+0.56%), Utilities (XUJ) (+0.41%), and Financials (XFJ) (+0.36%) also logged better than benchmark performances.

Source: ASX





  1. Iron-Ore- https://www.royhill.com.au/gina-rinehart-rips-into-threat-endangering-aussie-living-standards-this-is-serious/ valentina sabbione or https://www.tradewindsnews.com/bulkers/australian-iron-ore-fixtures-wake-up-sleepy-spot-market-for-capesizes/2-1-1712550
  2. Lithium - https://www.afr.com/companies/mining/lithium-giant-flags-exiting-australia-20240920-p5kc49 - Arcadium Lithium or https://www.mining.com/us-closer-to-greenlighting-ioneers-nevada-lithium-mine/
  3. Copper - https://www.bnnbloomberg.ca/business/international/2024/09/19/a-copper-ma-frenzy-masks-big-miners-hesitation-to-build/ BHP
  4. Construction - https://socialistworker.co.uk/international/australian-construction-strikes-take-on-union-busting-labor-government/
  5. LNG - https://www.offshore-energy.biz/ten-year-deal-with-woodside-helping-japan-up-its-decarbonization-ante-by-adding-australian-lng-to-its-energy-mix/ Woodside Energy
  6. Housing - https://finance.yahoo.com/news/australia-struggles-solve-housing-crisis-140100246.html
  7. Inflation and Interest - https://www.abc.net.au/news/2024-09-20/us-rate-cut-puts-pressure-on-rba-and-things-could-get-heated/104367316 Reserve Bank of Australia
  8. GDP - https://www.bnnbloomberg.ca/business/international/2024/09/20/goldman-says-millennial-recession-is-dragging-australian-economy/
  9. Employment - https://www.hcamag.com/au/specialisation/recruitment/unemployment-stays-at-42-in-august-abs/506405
  10. Public Sector - https://www.capitalbrief.com/article/we-asked-economists-what-the-next-government-should-prioritise-8ad5a808-c8be-4883-8969-d77cea8552eb/preview/
  11. ESG - https://www.fastmarkets.com/insights/australia-still-attractive-for-alumina-producers-despite-heightened-esg-considerations/ or https://itbrief.com.au/story/australian-ceos-prioritise-ai-investment-despite-uncertainties
  12. Agriculture - https://www.premier.tas.gov.au/latest-news/2024/september/agricultural-sectors-perform-well-despite-dry-conditions




Paul Young CPA CGA (1996)

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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]

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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?

Blog – What is next for ESG Reporting – August 2024 - https://www.dhirubhai.net/posts/paul-young-055632b_introductory-to-esg-and-sustainability-reporting-activity-7233711298838978561-UB6d?utm_source=share&utm_medium=member_desktop

Stock Market – Australia – September 13, 2024 - https://www.dhirubhai.net/pulse/stock-market-asx-september-13-2024-paul-young-uytrc/

Stock Market Week-Ending September 14, 2024 - https://www.dhirubhai.net/pulse/stock-market-week-ending-september-14-2024-paul-young-i90ic/

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Stock Market for W/E September 7, 2024 - https://youtu.be/lw4GXHlaZAk?si=r4pzGhoHvxHLScnc or https://www.dhirubhai.net/posts/paul-young-055632b_stock-market-for-we-september-7-2024-activity-7238691424135716865-CmT6?utm_source=share&utm_medium=member_desktop

Revenue decline 3 of 5 S and P 500 - https://www.dhirubhai.net/posts/paul-young-055632b_3-out-of-5-companies-miss-revenue-estimates-activity-7238238374031941634-7Frv?utm_source=share&utm_medium=member_desktop

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The S&P 500 (#SP500) plunged 4.25% for the holiday-shortened week, posting its worst weekly performance since early March 2023.

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https://seekingalpha.com/news/4147719-3-out-of-5-companies-miss-revenue-estimates-this-week-earnings-scorecard

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