CommSec

Market Close 14 Jun 22: ASX 200 sinks to 16-month low

The Australian sharemarket slumped by 3.55% on Tuesday, its worst day since May 2020 and enough to drag the ASX 200 to a 16-month low. The catalyst was a hotter than expected update on US inflation last Friday, which has markets bracing for a larger US rate hike this Thursday. Our market also played catch-up due to the long weekend, as the S&P500 slumped by close to 7% over the past two sessions.

 

Commonwealth Securities Limited ABN 60 067 254 399 AFLS 238814 (CommSec) is a wholly but non-guaranteed subsidiary of Commonwealth Bank of Australia ABN 48 12 12 124 AFSL: 234945 (the Bank) and a  Market Participant of the ASX Limited and Cboe Australia Pty Limited, a Clearing Participant of ASX Clear Pty Limited and a Settlement Participant of ASX Settlement Pty Limited. Any advice contained in this broadcast is general advice only. As the information in this broadcast has not been prepared with reference to your objectives, financial or taxation situation or needs, you should, before acting on it, consider its appropriateness to your circumstances and seek appropriate professional advice. CommSec, the Bank, and their related entities do not accept any liability arising out of or in relation to reliance on the information in this broadcast. We believe that the information in this broadcast is correct as at the time of its compilation, but no warranty is made as to its accuracy, reliability or completeness.  This report is under copyright to CommSec and the Bank and may not be used without their prior consent.

Morning Report 14 Jun 22: US sharemarkets slumped again on Monday

Investors fear that aggressive inflation-fighting rate hikes could tip the economy into recession. Reuters reported "Cryptocurrency- and blockchain-related stocks, including Riot Blockchain, Marathon Digital Holdings and Coinbase Global, all plunged as bitcoin slumped more than 10% after major US cryptocurrency lending company Celsius Network froze withdrawals and transfers citing "extreme" conditions." The Dow Jones index fell by 876 points or 2.8%. The S&P 500 index lost 3.9% with the Nasdaq index down by 532 points or 4.7%.

Commonwealth Securities Limited ABN 60 067 254 399 AFLS 238814 (CommSec) is a wholly but non-guaranteed subsidiary of Commonwealth Bank of Australia ABN 48 12 12 124 AFSL: 234945 (the Bank) and a  Market Participant of the ASX Limited and Cboe Australia Pty Limited, a Clearing Participant of ASX Clear Pty Limited and a Settlement Participant of ASX Settlement Pty Limited. Any advice contained in this broadcast is general advice only. As the information in this broadcast has not been prepared with reference to your objectives, financial or taxation situation or needs, you should, before acting on it, consider its appropriateness to your circumstances and seek appropriate professional advice. CommSec, the Bank, and their related entities do not accept any liability arising out of or in relation to reliance on the information in this broadcast. We believe that the information in this broadcast is correct as at the time of its compilation, but no warranty is made as to its accuracy, reliability or completeness.  This report is under copyright to CommSec and the Bank and may not be used without their prior consent.

Market Close 10 Jun 22: ASX 200 sinks to 4 1/2 month low

The Australian sharemarket fell by 1.25% on Friday, briefly sinking to a 4 1/2 month low and having its most significant weekly decline since April 2020. The RBA's larger than expected 50bp rate hike on Tuesday, a key inflation report in the US tonight and a number of districts expected to re-enter lockdowns in Shanghai tonight all weighed on sentiment. 

Commonwealth Securities Limited ABN 60 067 254 399 AFLS 238814 (CommSec) is a wholly but non-guaranteed subsidiary of Commonwealth Bank of Australia ABN 48 12 12 124 AFSL: 234945 (the Bank) and a  Market Participant of the ASX Limited and Cboe Australia Pty Limited, a Clearing Participant of ASX Clear Pty Limited and a Settlement Participant of ASX Settlement Pty Limited. Any advice contained in this broadcast is general advice only. As the information in this broadcast has not been prepared with reference to your objectives, financial or taxation situation or needs, you should, before acting on it, consider its appropriateness to your circumstances and seek appropriate professional advice. CommSec, the Bank, and their related entities do not accept any liability arising out of or in relation to reliance on the information in this broadcast. We believe that the information in this broadcast is correct as at the time of its compilation, but no warranty is made as to its accuracy, reliability or completeness.  This report is under copyright to CommSec and the Bank and may not be used without their prior consent.

Morning Report 10 Jun 22: US sharemarkets fell on Thursday

Investors were nervous ahead of the release of consumer price data on Friday. The core (underlying) rate is tipped to have risen by 0.5% in May which would see the annual inflation rate ease for another month and potentially indicate that inflation has peaked. The Dow Jones index closed lower by 638 points or 1.2% with selling accelerating in the final hour of trade. The S&P 500 index lost 2.4% with the Nasdaq index down by 332 points or 2.8%.

Commonwealth Securities Limited ABN 60 067 254 399 AFLS 238814 (CommSec) is a wholly but non-guaranteed subsidiary of Commonwealth Bank of Australia ABN 48 12 12 124 AFSL: 234945 (the Bank) and a  Market Participant of the ASX Limited and Cboe Australia Pty Limited, a Clearing Participant of ASX Clear Pty Limited and a Settlement Participant of ASX Settlement Pty Limited. Any advice contained in this broadcast is general advice only. As the information in this broadcast has not been prepared with reference to your objectives, financial or taxation situation or needs, you should, before acting on it, consider its appropriateness to your circumstances and seek appropriate professional advice. CommSec, the Bank, and their related entities do not accept any liability arising out of or in relation to reliance on the information in this broadcast. We believe that the information in this broadcast is correct as at the time of its compilation, but no warranty is made as to its accuracy, reliability or completeness.  This report is under copyright to CommSec and the Bank and may not be used without their prior consent.

Market Close 9 Jun 22: ASX 200 fell to a 1-month low

The Australian sharemarket fell by 1.4%, closing at an intraday low, sliding for a fourth time in five days and hitting a one-month low in the process. The major banks have weighed on the ASX 200 for three days. 

This report is approved and distributed in Australia by Commonwealth Securities Limited based on information available at the time of publishing and any opinions, statements or recommendations are reasonably held or made as at the time of its compilation. The information in the report is subject to change without notice and do not reflect the view of CBA Group or any other employees within CBA Group.  To the extent permitted by law, neither the Bank nor any of its subsidiaries accept liability to any person for loss or damage arising from the use of this report. The information has been prepared without taking account of the objectives, financial situation or needs of any particular individual. For this reason, any individual should, before acting on this information should consider the appropriateness of the information, having regards to the individual's objectives, financial situation or needs, and, if necessary, seek appropriate professional advice. You can view the Terms and Conditions, Product Disclosure Statement, Best Execution Statement and Financial Services Guide, and should consider them before making any decision about our products and services. Past performance is no guarantee of future performance. Commonwealth Securities Limited ABN 60 067 254 399 AFSL 238814 (CommSec) is a wholly owned but non-guaranteed subsidiary of the Commonwealth Bank of Australia ABN 48 123 123 124 AFSL 234945.  CommSec is a Market Participant of ASX Limited and Cboe Australia Pty Limited (formerly Chi-X Australia Pty Limited), a Clearing Participant of ASX Clear Pty Limited and a Settlement Participant of ASX Settlement Pty Limited.

Morning Report 9 Jun 22: US sharemarkets fell on Wednesday

Higher bond yields especially weighed on technology stocks. Shares in chipmaker Intel fell by 5.3% in response to a negative broker report. The Philadelphia Semiconductor SE index was down 2.4%. The Dow Jones index closed lower by 269 points or 0.8%. And the S&P 500 index lost 1.1% with the Nasdaq index down by 89 points or 0.7%.

This report is approved and distributed in Australia by Commonwealth Securities Limited based on information available at the time of publishing and any opinions, statements or recommendations are reasonably held or made as at the time of its compilation. The information in the report is subject to change without notice and do not reflect the view of CBA Group or any other employees within CBA Group.  To the extent permitted by law, neither the Bank nor any of its subsidiaries accept liability to any person for loss or damage arising from the use of this report. The information has been prepared without taking account of the objectives, financial situation or needs of any particular individual. For this reason, any individual should, before acting on this information should consider the appropriateness of the information, having regards to the individual's objectives, financial situation or needs, and, if necessary, seek appropriate professional advice. You can view the Terms and Conditions, Product Disclosure Statement, Best Execution Statement and Financial Services Guide, and should consider them before making any decision about our products and services. Past performance is no guarantee of future performance. Commonwealth Securities Limited ABN 60 067 254 399 AFSL 238814 (CommSec) is a wholly owned but non-guaranteed subsidiary of the Commonwealth Bank of Australia ABN 48 123 123 124 AFSL 234945.  CommSec is a Market Participant of ASX Limited and Cboe Australia Pty Limited (formerly Chi-X Australia Pty Limited), a Clearing Participant of ASX Clear Pty Limited and a Settlement Participant of ASX Settlement Pty Limited.

Market Close 8 Jun 22: ASX 200 snaps losing streak

The Australian sharemarket rose by 0.36% on Wednesday, lifting for the first time this week despite heavy losses from the major banks, as the RBA raised rates more aggressively than most expected on Tuesday. 10 of 11 sectors still moved higher, led by energy and utilities. 

This report is approved and distributed in Australia by Commonwealth Securities Limited based on information available at the time of publishing and any opinions, statements or recommendations are reasonably held or made as at the time of its compilation. The information in the report is subject to change without notice and do not reflect the view of CBA Group or any other employees within CBA Group.  To the extent permitted by law, neither the Bank nor any of its subsidiaries accept liability to any person for loss or damage arising from the use of this report. The information has been prepared without taking account of the objectives, financial situation or needs of any particular individual. For this reason, any individual should, before acting on this information should consider the appropriateness of the information, having regards to the individual's objectives, financial situation or needs, and, if necessary, seek appropriate professional advice. You can view the Terms and Conditions, Product Disclosure Statement, Best Execution Statement and Financial Services Guide, and should consider them before making any decision about our products and services. Past performance is no guarantee of future performance. Commonwealth Securities Limited ABN 60 067 254 399 AFSL 238814 (CommSec) is a wholly owned but non-guaranteed subsidiary of the Commonwealth Bank of Australia ABN 48 123 123 124 AFSL 234945.  CommSec is a Market Participant of ASX Limited and Cboe Australia Pty Limited (formerly Chi-X Australia Pty Limited), a Clearing Participant of ASX Clear Pty Limited and a Settlement Participant of ASX Settlement Pty Limited.

Morning Report 8 Jun 22: US sharemarkets rose on Tuesday

Technology led the way. Shares in Apple rose 1.8%. But shares in retailer Target lost 2.3% after said that it will have to offer deeper discounts to boost sales, thus trimming margins. Retail shares fell 1%. Shares in department store Kohl's rose 9.5% after it entered talks with retail store operator Franchise Group over a potential sale. The Dow Jones index closed up by 264 points or 0.8%. And the S&P 500 index rose by 1.0% with the Nasdaq index adding 114 points or 0.9%.

This report is approved and distributed in Australia by Commonwealth Securities Limited based on information available at the time of publishing and any opinions, statements or recommendations are reasonably held or made as at the time of its compilation. The information in the report is subject to change without notice and do not reflect the view of CBA Group or any other employees within CBA Group.  To the extent permitted by law, neither the Bank nor any of its subsidiaries accept liability to any person for loss or damage arising from the use of this report. The information has been prepared without taking account of the objectives, financial situation or needs of any particular individual. For this reason, any individual should, before acting on this information should consider the appropriateness of the information, having regards to the individual's objectives, financial situation or needs, and, if necessary, seek appropriate professional advice. You can view the Terms and Conditions, Product Disclosure Statement, Best Execution Statement and Financial Services Guide, and should consider them before making any decision about our products and services. Past performance is no guarantee of future performance. Commonwealth Securities Limited ABN 60 067 254 399 AFSL 238814 (CommSec) is a wholly owned but non-guaranteed subsidiary of the Commonwealth Bank of Australia ABN 48 123 123 124 AFSL 234945.  CommSec is a Market Participant of ASX Limited and Cboe Australia Pty Limited (formerly Chi-X Australia Pty Limited), a Clearing Participant of ASX Clear Pty Limited and a Settlement Participant of ASX Settlement Pty Limited.

 

Market Close 7 Jun 22: ASX 200 slumps following 50bp rate hike

The Australian sharemarket fell by 1.5% on Tuesday, slumping following the Reserve Bank's decision to raise rates more aggressively than expected. All 11 sectors finished in the red, with buy-now-pay-later firm Zip Co (ZIP) falling most. 

This report is approved and distributed in Australia by Commonwealth Securities Limited based on information available at the time of publishing and any opinions, statements or recommendations are reasonably held or made as at the time of its compilation. The information in the report is subject to change without notice and do not reflect the view of CBA Group or any other employees within CBA Group.  To the extent permitted by law, neither the Bank nor any of its subsidiaries accept liability to any person for loss or damage arising from the use of this report. The information has been prepared without taking account of the objectives, financial situation or needs of any particular individual. For this reason, any individual should, before acting on this information should consider the appropriateness of the information, having regards to the individual's objectives, financial situation or needs, and, if necessary, seek appropriate professional advice. You can view the Terms and Conditions, Product Disclosure Statement, Best Execution Statement and Financial Services Guide, and should consider them before making any decision about our products and services. Past performance is no guarantee of future performance. Commonwealth Securities Limited ABN 60 067 254 399 AFSL 238814 (CommSec) is a wholly owned but non-guaranteed subsidiary of the Commonwealth Bank of Australia ABN 48 123 123 124 AFSL 234945.  CommSec is a Market Participant of ASX Limited and Cboe Australia Pty Limited (formerly Chi-X Australia Pty Limited), a Clearing Participant of ASX Clear Pty Limited and a Settlement Participant of ASX Settlement Pty Limited.

Morning Report 7 Jun 22: US sharemarkets rose in a choppy trading session on Monday

Investors assessed prospects for growth in markets rattled by inflation and rate-hike concerns. Amazon.com shares climbed by 2% after implementing a 20-for-1 stock split. But Twitter shares slipped 1.5% after Tesla CEO Elon Musk said he might walk away from his buyout offer if the social media company fails to provide data on spam and fake accounts. Stocks rallied early in the trading session with the Dow Jones index up by more than 300 points after Beijing eased Covid-19 restrictions, boosting hopes this would help abate supply-chain pressures. Didi Global shares surged 24.3% on reports that Chinese regulators are set to ease curbs on the ride-hailing giant. The Dow Jones index closed up by 16 points or 0.1%. And the S&P 500 index rose by 0.3% with the Nasdaq index adding 49 points or 0.4%. 

This report is approved and distributed in Australia by Commonwealth Securities Limited based on information available at the time of publishing and any opinions, statements or recommendations are reasonably held or made as at the time of its compilation. The information in the report is subject to change without notice and do not reflect the view of CBA Group or any other employees within CBA Group.  To the extent permitted by law, neither the Bank nor any of its subsidiaries accept liability to any person for loss or damage arising from the use of this report. The information has been prepared without taking account of the objectives, financial situation or needs of any particular individual. For this reason, any individual should, before acting on this information should consider the appropriateness of the information, having regards to the individual's objectives, financial situation or needs, and, if necessary, seek appropriate professional advice. You can view the Terms and Conditions, Product Disclosure Statement, Best Execution Statement and Financial Services Guide, and should consider them before making any decision about our products and services. Past performance is no guarantee of future performance. Commonwealth Securities Limited ABN 60 067 254 399 AFSL 238814 (CommSec) is a wholly owned but non-guaranteed subsidiary of the Commonwealth Bank of Australia ABN 48 123 123 124 AFSL 234945.  CommSec is a Market Participant of ASX Limited and Cboe Australia Pty Limited (formerly Chi-X Australia Pty Limited), a Clearing Participant of ASX Clear Pty Limited and a Settlement Participant of ASX Settlement Pty Limited.