CommSec

Market Close 16 May 22: ASX 200 edged higher despite China slowdown

The Australian sharemarket rose for a second day, with the ASX 200 lifting by 0.25%. Early this morning however, the market was up as much as 1% before the release of data highlighting a significant slowdown in China's economy. A pullback in commodity prices, losses on China's sharemarket and futures pointing to a softer start in the US also weighed.

This report is approved and distributed in Australia by 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 and 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.  Any advice contained in this report is general advice only and is not a recommendation to buy, sell or hold any securities, property, real estate or financial products, and has been prepared without taking account of the objectives, financial situation or needs of any particular individual. Before making any investment decision, you should consider your own investment needs and objectives and consider seeking financial advice. Past performance is not a reliable indicator of future performance. This report is produced by Commonwealth Securities Limited based on information available at the time of publishing. We believe that the information in this report is correct and any opinions, conclusions or recommendations are reasonably held or made as at the time of its compilation, but no warranty is made as to accuracy, reliability or completeness. 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.

 

 

Morning Report 16 May 22: US sharemarkets surged higher on Friday

US sharemarkets were supported by US Federal Reserve Chair Jerome Powell’s reassurance on Thursday that bigger interest rate hikes would be off the table for now. Shares of Nike and Salesforce closed up 4.7% and 4.1%, leading the Dow Jones index higher. Meta Platforms (+3.9%), Alphabet (+2.8%), Apple (+3.2%) and Tesla (+5.7%) shares all finished higher. But Twitter shares plunged 9.7% after Elon Musk claimed his takeover offer was "temporarily on hold." The Dow Jones index closed up by 466 points or 1.5%. The S&P 500 index gained 2.4% and the Nasdaq index added 434 points or 3.8%. Over the week, the Dow fell 2.1%, the S&P 500 dropped 2.4% and the Nasdaq slipped 2.8%. 

This report is approved and distributed in Australia by 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 and 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.  Any advice contained in this report is general advice only and is not a recommendation to buy, sell or hold any securities, property, real estate or financial products, and has been prepared without taking account of the objectives, financial situation or needs of any particular individual. Before making any investment decision, you should consider your own investment needs and objectives and consider seeking financial advice. Past performance is not a reliable indicator of future performance. This report is produced by Commonwealth Securities Limited based on information available at the time of publishing. We believe that the information in this report is correct and any opinions, conclusions or recommendations are reasonably held or made as at the time of its compilation, but no warranty is made as to accuracy, reliability or completeness. 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.

Market Close 13 May 22: Strongest lift since late January

The Australian sharemarket surged by 1.93% on Friday, its strongest daily lift since late January. However, this improvement was only just enough to recoup Thursday's 1.75% slide and the market has still extended its losing streak to a fourth week. 

This report is approved and distributed in Australia by Commonwealth Securities Limited ABN 60 067 254 399, AFSL 238814 (CommSec) a wholly owned but non-guaranteed subsidiary of the Commonwealth Bank of Australia ABN 48 123 123 124, AFSL 234945 and a market participant of ASX Limited and Cboe Australia Pty Limited, a clearing participant of ASX Clear Pty Limited and a settlement participant of ASX Settlement Pty Limited.  Both entities are incorporated in Australia with limited liability. Any advice contained in this report is general advice only and is not a recommendation to buy, sell or hold any securities, property, real estate or financial products, and has been prepared without taking account of the objectives, financial or taxation situation or needs of any particular individual. Before making any investment decision, you should consider your own investment needs and objectives and consider seeking financial advice. Past performance is not a reliable indicator of future performance. This report is produced by Commonwealth Securities Limited based on information available at the time of publishing.  We believe that the information in this report is correct and any opinions, conclusions or recommendations are reasonably held or made as at the time of its compilation, but no warranty is made as to accuracy, reliability or completeness. 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. 

Morning Report 13 May 22: US sharemarkets were volatile on Thursday

After plunging almost 2% earlier in the session, the S&P 500 index almost erased its losses into the close of trade after Federal Reserve Bank of San Francisco President Mary Daly said that a 75 basis point rate hike is "not a primary consideration." Walt Disney shares dipped 0.9% following a disappointing quarterly report. Shares of Apple (-2.7%), Boeing (-4.8%) and Microsoft (-2%) all fell. The Dow Jones index closed down by 104 points or 0.3%, its sixth-straight daily decline. The S&P 500 index fell by 0.1%, but the Nasdaq index added 7 points or 0.1%. 

This report is approved and distributed in Australia by 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 and 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.  Any advice contained in this report is general advice only and is not a recommendation to buy, sell or hold any securities, property, real estate or financial products, and has been prepared without taking account of the objectives, financial situation or needs of any particular individual. Before making any investment decision, you should consider your own investment needs and objectives and consider seeking financial advice. Past performance is not a reliable indicator of future performance. This report is produced by Commonwealth Securities Limited based on information available at the time of publishing. We believe that the information in this report is correct and any opinions, conclusions or recommendations are reasonably held or made as at the time of its compilation, but no warranty is made as to accuracy, reliability or completeness. 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.

Market Close 12 May 22: Aussie market hits 3-month low

The Australian sharemarket fell by 1.75% on Thursday, hitting a three-month low and continuing its pullback that started in mid-April. All 11 sectors finished lower following a closely watched update on US inflation which highlighted prices rising at a faster than expected pace. 

This report is approved and distributed in Australia by 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 and 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.  Any advice contained in this report is general advice only and is not a recommendation to buy, sell or hold any securities, property, real estate or financial products, and has been prepared without taking account of the objectives, financial situation or needs of any particular individual. Before making any investment decision, you should consider your own investment needs and objectives and consider seeking financial advice. Past performance is not a reliable indicator of future performance. This report is produced by Commonwealth Securities Limited based on information available at the time of publishing. We believe that the information in this report is correct and any opinions, conclusions or recommendations are reasonably held or made as at the time of its compilation, but no warranty is made as to accuracy, reliability or completeness. 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.

 

Morning Report 12 May 22: US sharemarkets stumbled on Wednesday

US consumer prices data did little to ease investor worries over the outlook for inflation and interest rates. Federal Reserve Bank of Atlanta President Raphael Bostic said he's open to "moving more" on interest rates to tame inflation. Shares of tech giants Apple (-5.2%), Meta Platforms (-4.5%), Netflix (-6.4%) and Tesla (-8.3%) all fell sharply. The Dow Jones index closed down by 327 points or 1% after being up 423 points earlier in the session. The S&P 500 index fell by 1.7% and the Nasdaq index dipped 373 points or 3.2%.

This report is approved and distributed in Australia by 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 and 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.  Any advice contained in this report is general advice only and is not a recommendation to buy, sell or hold any securities, property, real estate or financial products, and has been prepared without taking account of the objectives, financial situation or needs of any particular individual. Before making any investment decision, you should consider your own investment needs and objectives and consider seeking financial advice. Past performance is not a reliable indicator of future performance. This report is produced by Commonwealth Securities Limited based on information available at the time of publishing. We believe that the information in this report is correct and any opinions, conclusions or recommendations are reasonably held or made as at the time of its compilation, but no warranty is made as to accuracy, reliability or completeness. 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.

Market Close 11 May 22: ASX 200 ends 3-day losing streak

The Australian sharemarket edged higher in late trade, with the ASX 200 lifting by a modest 0.19% ahead of key US inflation data due tonight. This marked the first gain in four trading sessions. 

This report is approved and distributed in Australia by 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 and 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.  Any advice contained in this report is general advice only and is not a recommendation to buy, sell or hold any securities, property, real estate or financial products, and has been prepared without taking account of the objectives, financial situation or needs of any particular individual. Before making any investment decision, you should consider your own investment needs and objectives and consider seeking financial advice. Past performance is not a reliable indicator of future performance. This report is produced by Commonwealth Securities Limited based on information available at the time of publishing. We believe that the information in this report is correct and any opinions, conclusions or recommendations are reasonably held or made as at the time of its compilation, but no warranty is made as to accuracy, reliability or completeness. 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.

Morning Report 11 May 22: US sharemarkets were mixed on Tuesday

Traders assessed comments from several US Federal Reserve speakers including Cleveland Federal Reserve President Loretta Mester who said, "we don't rule out 75 [basis point rate hikes] forever." Shares of Apple rose by 1.6%, boosting the S&P 500 and Nasdaq indexes. Tesla shares were also up 1.6%. But IBM shares slipped 4%. Peloton shares tumbled 8.7% after its CEO said the fitness equipment maker was "thinly capitalised."  The Dow Jones index closed down by 85 points or 0.3% after being up 506 points earlier in the session. But the S&P 500 index rose by 0.3% and the Nasdaq index added 114 points or 1%.

This report is approved and distributed in Australia by 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 and 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.  Any advice contained in this report is general advice only and is not a recommendation to buy, sell or hold any securities, property, real estate or financial products, and has been prepared without taking account of the objectives, financial situation or needs of any particular individual. Before making any investment decision, you should consider your own investment needs and objectives and consider seeking financial advice. Past performance is not a reliable indicator of future performance. This report is produced by Commonwealth Securities Limited based on information available at the time of publishing. We believe that the information in this report is correct and any opinions, conclusions or recommendations are reasonably held or made as at the time of its compilation, but no warranty is made as to accuracy, reliability or completeness. 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.

Market Close 10 May 22: ASX 200 briefly falls to 3-month low

The Australian sharemarket fell by 1% and lost ground for a third day as 10 of 11 sectors declined. The ASX 200 was down as much as 2.5% and hit a three-month low this morning, before gains from Chinese markets and signs of a calmer start in the US and Europe tonight seemed to settle nerves. 

This report is approved and distributed in Australia by 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 and 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.  Any advice contained in this report is general advice only and is not a recommendation to buy, sell or hold any securities, property, real estate or financial products, and has been prepared without taking account of the objectives, financial situation or needs of any particular individual. Before making any investment decision, you should consider your own investment needs and objectives and consider seeking financial advice. Past performance is not a reliable indicator of future performance. This report is produced by Commonwealth Securities Limited based on information available at the time of publishing. We believe that the information in this report is correct and any opinions, conclusions or recommendations are reasonably held or made as at the time of its compilation, but no warranty is made as to accuracy, reliability or completeness. 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.

Morning Report 10 May 22: US market slumps to 13-month low

The S&P500 slumped by 3.2% overnight, sliding to ~13-month lows as markets continue to focus on rising rates in coming months and 40-year high inflation.

This report is approved and distributed in Australia by 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 and 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.  Any advice contained in this report is general advice only and is not a recommendation to buy, sell or hold any securities, property, real estate or financial products, and has been prepared without taking account of the objectives, financial situation or needs of any particular individual. Before making any investment decision, you should consider your own investment needs and objectives and consider seeking financial advice. Past performance is not a reliable indicator of future performance. This report is produced by Commonwealth Securities Limited based on information available at the time of publishing. We believe that the information in this report is correct and any opinions, conclusions or recommendations are reasonably held or made as at the time of its compilation, but no warranty is made as to accuracy, reliability or completeness. 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.