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ASX Weekly Market Digest | Recap & Recommendations

Weekly Stock Market Digest

Kalkine's Weekly Stock Market Digest is a recapitulation of one week's equity and commodity market performance, designed to keep the user abreast of the factors impacting the market performance.

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  • Launch Date

    02 Jun 2023

  • Frequency

    Weekly

  • Suitable for

    Investors

  • Risk Rating

    Low to Medium

  • Buy Now @

    AUD /

Overview

Weekly Stock Market Digest

Kalkine's Weekly Stock Market Digest is a recapitulation of one week's equity and commodity market performance, designed to keep the user abreast of the factors impacting the market performance. Besides, this report also provides Kalkine’s recommendation on one fundamentally sound stock, one technical-analysis driven stock, one hot stock as recommended by broker, along with technical analysis on a trending commodity.

Overview

Market trends should always be considered when recommending stocks or commodities. Any seasoned investor can apprehend that keeping yourself abreast of the trends in the market is necessary to yield positive results on a sustainable basis.

Kalkine's 'Weekly Stock Market Digest' helps investors to gauge trending themes, commodity price updates, broker views on hot stock, upcoming earnings and events, commodity performance, and recommendations on the stocks for investors to stay updated on a weekly basis. 

Published Reports

ASX 200 tumbles this week on revised Fed rate forecast

U.S. stocks fell this week after the Federal Reserve signaled it may slow its pace of interest rate cuts in 2025. While the Fed reduced rates for the third time this year to support the job market, this move was widely anticipated. The focus shifted to Fed projections indicating only two rate cuts in 2025, down from four expected earlier. This revision dampened market sentiment, as prior expectations of aggressive cuts had fueled record highs in 2024. Fed Chair Jerome Powell attributed the slowdown to a strong job market, rising inflation, and economic uncertainties requiring a cautious, adaptive policy approach. Domestic equity markets followed their U.S. counterparts and registered sharp declines this week.

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Inflation worries, rate cut uncertainties weigh on ASX 200 this week

Wall Street's rally paused this week as mixed economic data raised concerns about inflation and the job market. Unemployment claims surpassed expectations, while wholesale inflation was hotter than forecast, challenging hopes of steady economic stability and slowing inflation. Traders anticipate the Federal Reserve will lower interest rates next week, marking its third cut since September, aiming to support the cooling job market. Other central banks, including the European Central Bank and Swiss National Bank, also cut rates, reflecting global economic uncertainty. The developments highlight potential volatility as policymakers balance growth and inflation control efforts. Meanwhile, domestic equity indexes declined this week as traders booked profit in recent gainers ahead of the U.S. Fed's rate decision.

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ASX 200 ends flat this week ahead of RBA rate decision

U.S. stocks extended gains this week, with the S&P 500 hitting its 56th all-time high of the year and the Nasdaq climbing over 3%, fueled by a tech rally. However, momentum slowed Thursday as investors awaited Friday's key jobs report. So far, consumer spending has kept the U.S. economy resilient despite Fed rate hikes. However, shoppers are now facing high prices and a cooling job market. Friday's jobs report will show how many people employers hired and fired last month. Markets anticipate another Fed rate cut in two weeks, following its September easing to support economic growth and employment. Domestic indexes closed almost flat this week after Friday's decline as traders turned cautious ahead of Friday's U.S. jobs report.

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ASX 200 follows Wall Street higher this week; gold stocks bounce

Wall Street saw modest gains in a holiday-shortened week as markets responded to corporate earnings and economic data. U.S. markets were closed on Thursday for Thanksgiving and will open for a half day on Friday. The government’s PCE index, a key inflation gauge, rose to 2.3% in October from 2.1% in September, signalling that the decline in inflation is slowing as it nears the Federal Reserve’s 2% target. President-elect Donald Trump’s plans to impose tariffs on Mexico, Canada, and China could reignite inflationary pressures, potentially influencing future Fed policy. Investors remain cautious amid mixed signals on inflation and monetary policy. Domestic indexes also registered modest gains this week, in line with their U.S. counterparts. September quarter updates announced by most of the corporates show it is not as bad as it was expected.

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Energy stocks push ASX 200 1.31% higher this week

US equity markets managed to trim weekly losses following Thursday's gains, driven by strong earnings from Nvidia and other companies. The S&P 500 rose 0.5%, with gains led by banks and smaller companies, while the Dow Jones Industrial Average surged 461 points (1.1%). The Nasdaq edged up slightly, supported by economic resilience, as jobless claims fell and home sales beat expectations despite mixed manufacturing data. Bitcoin briefly crossed USD 99,000, and crude oil continued its upward trend. In the bond market, the 10-year Treasury yield ticked up to 4.43% from 4.41%, reflecting ongoing economic uncertainty. Meanwhile, domestic equities outperformed Wall Street indexes this week as energy and materials witnessed buying from their recent correction.

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ASX 200 consolidates this week as post-US election rally cools

U.S. stocks declined this week as the post-election rally cooled. The broader market has outpaced corporate profit growth, raising valuation concerns, though the S&P 500 remains up nearly 25% for the year. Smaller stocks, represented by the Russell 2000, also fell this week, reversing gains tied to hopes that Trump's ""America First"" policies would favour domestic companies. Uncertainty over the pace of Republican policy implementation tempered investor optimism, despite GOP control of government. Markets also reacted to fluctuating bond yields and Federal Reserve signals, with investors hoping for more rate cuts after two reductions this year. Domestic stocks consolidated this week following last week's rally, and the ASX 200 index remains just 1.18% below its 52-week high after remaining almost unchanged this week.

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ASX 200 jumps over 2% this week on Fed rate cut

US stocks registered solid gains this week as the Federal Reserve cut interest rates again to support the economy. The Fed's rate cut, aimed at supporting job growth and keeping inflation near its 2% target, came as expected, so it didn't have a major impact on the market. Investors are now focused on how policies under President Trump's administration might influence the Fed's future moves. Trump's stance on tariffs and potential inflationary measures has prompted some traders to reduce their expectations for further rate cuts next year. Fed Chair Jerome Powell said the election result wouldn't immediately affect policy, adding that the Fed evaluates economic impact before making rate decisions. Fed's rate cut also boosted domestic equities, with a broad-based rally visible on Friday. Following today's rally, the ASX 200 is just 0.96% off its 52-week high.

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ASX 200 tumbles 1.5% this week on September CPI data

US markets experienced a sharp decline this week, led by technology stocks. Despite reporting health earnings growth, Microsoft witnessed correction, while Amazon and Apple shares dropped ahead of their earnings releases post-market on Thursday. Nvidia, which is yet to report its earnings, also tanked 4.8%, driving the decline in Nasdaq. Thursday's selloff erased the S&P 500's October gain, resulting in a 1% decline for the month. In the bond market, Treasury yields softened amid mixed economic data, including a modest dip in the Fed's preferred inflation measure to 2.1%. The report suggests inflationary pressures may be easing, though core inflation remains slightly elevated, presenting a mixed economic outlook. Domestic equity indexes also corrected sharply this week following the release of September CPI data as investors pushed back their rate cut expectation to the middle of next year.

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ASX 200 retreats this week as rate cut expectations pushed back

Wall Street stocks have pulled back this week following record highs set by S&P 500 and Dow last week. The increase in Treasury yields has dampened investor enthusiasm for high-value stocks, given that critics have previously argued that stock prices were rising faster than corporate profits. The yield increase reflects steady U.S. economic strength, with reports consistently surpassing expectations. This resilience is encouraging for Wall Street, as it raises hopes that the economy may avoid a severe recession and manage inflation—the highest in decades—without the harsh downturn many had feared. Meanwhile, domestic equity indices also witnessed losses this week as investors pushed back their rate cut expectations to mid of next year, and stock valuations readjusted accordingly.

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ASX 200 trims weekly gains to 0.84% on China weakness

Wall Street indexes ended higher this week, with the S&P 500 settling near its all-time high. Positive corporate earnings and some encouraging developments on the economic front supported gains in the market. U.S. retailers registered increased sales in September than in August, and underlying growth trends within the data were better than economists expected. Given the stretched household finances, positive retail sales data was encouraging. Meanwhile, domestic indices trimmed this week's gains to below 1% following Friday's broad-based selloff, which saw the ASX 200 index losing 0.87%. Today's dip followed the release of Chinese data indicating a slowdown in the Asian giant's economy, which significantly impacted commodity stocks.

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Muted Finish for ASX 200 Despite Weekly Gains

The S&P/ASX 200 index encountered a challenging session, closing down by 8.50 points and forming a bearish candlestick pattern with increased trading volume. This indicates a prevailing bearish sentiment in the short term. However, the index continues to trade above the 50-period Simple Moving Average (SMA), which has become a key support level. On the daily chart, the 8,120 mark stands out as a solid support area, crucial for maintaining the index’s recent gains.Holding above this level will be essential for sustaining the upward momentum and reinforcing a positive outlook. Looking at the weekly chart, the index’s position above the 21-period SMA supports the view of a longer-term bullish trend.

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ASX 200 retreats from record high amid geopolitical tensions

Wall Street indexes paused this week after reaching record highs the previous week. Geopolitical tensions, particularly the escalating conflict in the Middle East, led traders to retreat from equities. Rising oil prices and faltering stock indexes reflected investor concerns over potential conflict escalation versus positive signs in the U.S. economy. Positive economic data helped alleviate fears about the U.S. labor market ahead of Friday’s jobs report. ADP data on Wednesday showed increased private-sector hiring in September, though weekly jobless claims were slightly higher than expected on Thursday. Domestic equity indexes also pulled back from last week's highs, but oil stocks saw gains due to higher crude prices.

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ASX 200 ends flat this week; materials outperform

Wall Street indexes continued their record-breaking rally this week, with the S&P 500 setting an all-time high for the third time this. A series of positive reports on the economy suggested that the world’s largest economy may be doing better than expected. Fewer workers applied for unemployment benefits last week, a signal that layoffs remain relatively low across the economy. A separate report said the overall US economy grew at a 3% annual rate during the spring, as previously estimated. Meanwhile, the Australian equity benchmark ASX 200 ended almost flat this week, but investors seemed to switch positions from tech, financials and consumer stocks to the ailing materials sector, which is expected to be the biggest beneficiary of the latest round of stimulus announced by China.

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Fed rate cut pushes ASX 200 to record high this week

Wall Street indexes extended their bull run this week, supported by a 50 basis points rate cut by the US Federal Reserve on 18 September. This was the first rate reduction announced by the Fed in over four years, significantly lowering borrowing costs just ahead of the November presidential election. The Fed, in its statement, also indicated another 1 per cent rate reduction in 2025, which will likely relieve the pressure on consumers and businesses, impacted by higher inflation over the last two years. The Fed is optimistic that inflation is moving toward its 2% target range, with risks balanced on both the employment and inflation front. Domestic indexes followed the Wall Street higher and closed at record highs for consecutive sessions. Rate-sensitive stocks extended gains along with metal and energy shares, supporting the rally in the benchmark ASX 200 index.

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ASX 200 jumps over 1% this week amid Fed rate cut optimism

Wall Street indices managed to close in the green this week, driven by expectations of a potential Federal Reserve rate cut in the coming week. Gains in the index were supported by various data points, including the US Producer Price Index (PPI) data. On Thursday, the ECB announced its second rate cut in three months, citing slowing inflation and economic growth. Investors' attention is now on the US Fed, which will announce its interest rate policy decision at the close of its two-day meeting next Wednesday. The Fed is widely expected to cut rates for the first time since 2020. Meanwhile, domestic stocks followed Wall Street stocks higher this week. A rally in top banks supported gains in the ASX 200 index, while a sign of reversal in materials boosted sentiments.

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ASX 200 slips 1% this week ahead of US jobs report

US stocks struggled this week after a report on US manufacturing reignited worries about the slowing US economy and its impact on corporate profits. All eyes are on today's job report, which will say how many jobs US employers added last month. Economists expect an acceleration in hiring. The job market's performance could indicate how big of a cut to interest rates the Federal Reserve will deliver at its next meeting later this month. It may be noted that the Federal Reserve has hinted it's about to begin cutting rates to protect the job market and keep the overall economy from sliding into recession. Meanwhile, domestic equities also came under selling pressure this week as concerns over the health of the US and Chinese economy triggered a selloff in energy and materials stocks.

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ASX 200 logs gains for three straight weeks

US stock indices closed with modest gains this week except for Nasdaq. The Dow Jones index touched a record high last night after the Commerce Department upgraded its assessment of US economic growth for the second quarter to 3%, up from 2.8% earlier, signalling that the world's biggest economy remains strong despite stubborn inflation and high interest rates. This helped a rebound in crude oil prices, and the USD gained against major currencies. However, domestic equity markets outperformed Wall Street this week following the rebound in crude oil prices and a positive set of earnings from some index heavyweights. The Australian equity benchmark ASX 200 has gained over 3% in the last three weeks and is now just 0.70% off its 52-week high.

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ASX 200 extends weekly gains on corporate earnings

US markets closed this week with modest gains as investors looked ahead to US Federal Reserve Chair Jerome Powell's comments for further clarity about the outlook for interest rates and refrained from building additional positions. The likelihood of a rate cut next month is already priced into the markets. CME Group's FedWatch Tool indicates a 75.5% chance for a 25bps rate cut next month and a 24.5% chance for a 50bps rate cut. Meanwhile, the Australian equity benchmark snapped a ten-session gaining streak on Friday, following the broadly negative cues from Wall Street overnight. However, the index managed to close above the psychological level of 8,000, outperforming its US counterparts, underpinned by buying in technology and materials stocks over the week.

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Wall Street's rebound ignites 2.49% gains in ASX 200 this week

US stocks made a sharp rebound this week, with the Nasdaq jumping over 5% and the S&P 500 gaining over 4%. The S&P 500 index is now within 2.2% of its all-time high set last month after briefly falling close to 10% below it. A favourable inflation report and positive retail sales data helped improve sentiments, with traders still widely expecting the Federal Reserve to cut its main interest rate at its next meeting in September. Domestic equities also saw buying this week amid better-than-expected earnings from some of the market darlings and improved sentiments following the recovery in Wall Street stocks.

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ASX 200 falls 2% this week as macro concerns weigh

US equity markets stabilised over the last two days after witnessing a broad-based selloff earlier this week, triggered by concerns over the weakening US economy and a major unwinding of yen carry trades. Investors worried about the health of the US economy got a respite after the Bank of Japan indicated that it wouldn't hike interest rates during unstable markets. All three US equity indexes closed higher on Thursday for the second time in a row, supported by weekly jobless claims that gave investors hope the US labor market can continue to hold up. Meanwhile, expectations for Federal Reserve rate cuts helped improve sentiments following extreme volatility that shook markets and stoked recession fears. Despite The recovery witnessed over the last two days, US equity indexes closed with sharp losses this week. Domestic equity indexes also closed lower this week as Friday's gains could not erase the losses witnessed earlier this week.

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ASX 200 trims weekly gains to 0.28% on macro concerns

US equity indices gave up most of their gains made earlier this week because of Thursday's selloff, driven by concerns over a weak economic outlook after recent manufacturing and labour market data raised fears of a downturn in the world's biggest economy. The ISM Manufacturing PMI fell to 46.8 in July from 48.5 in June, reflecting a contraction in business activity. Meanwhile, initial claims for state unemployment benefits increased by 14,000 to a seasonally adjusted 249,000 for the week ended 27 July, reaching an 11-month high and suggesting a softening in the US labour market. Mirroring the selloff on Wall Street overnight, domestic stocks also witnessed a broad-based selloff, offsetting most of the gains made earlier this week on positive inflation data.

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ASX 200 cuts weekly losses to 0.63% on mining rebound

Wall Street indices tumbled this week amid a selloff in Big Tech stocks following disappointing quarterly reports from Tesla, Google-parent Alphabet and some other heavy-weight companies. However, US equity markets stabilised on Thursday after second-quarter US GDP data showed resilient growth of 2.8%, up from March quarter's 1.4% growth. This growth was driven by increased consumer spending and inventory investment amid easing inflation pressures. Although domestic equity markets closed lower this week, they outperformed Wall Street as the mining sector rebounded as pressures eased following China's unexpected cuts to key lending rates on Thursday, improving the world's top metal consumer's outlook.

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ASX 200 trims weekly gains to 0.15% on rate hike fears

US stocks ended lower this week as investors started booking profit from high-priced megacap growth stocks as second-quarter earnings kick in. Meanwhile, some mixed reports released on Thursday added to market concerns. While one report said more workers applied for unemployment benefits last week than economists expected, a separate report said manufacturing in the mid-Atlantic region is growing much better than economists expected. Domestic equity indexes gave up earlier gains and ended the week slightly higher as strong domestic employment figures raised fears of an interest rate hike. Investors are also tracking the upcoming second-quarter inflation data for insights into the future actions of the Reserve Bank of Australia.

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ASX 200 surges 1.75% this week on US inflation data

Wall Street indexes hit record highs on Wednesday, led by a rally in big technology companies whose shares have been soaring amid the frenzy over artificial intelligence. Hopes for interest rate cuts have also boosted investors' sentiment, supporting the rally on Wall Street. However, weekly gains in the indexes were trimmed following a sharp selloff in Big Tech stocks on Thursday, which pulled the Nasdaq composite 2% lower from Wednesday's record high. Thursday's correction broke seven-day winning streaks for the S&P 500 and Nasdaq composite. Domestic equity indexes outperformed their US counterparts this week following Friday's rally, driven by weaker-than-expected US inflation data for June, supporting rate cut hopes from the US Federal Reserve in September this year.

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ASX 200 ends 0.71% higher this week as Fed rate cut hopes brighten

US equity indexes posted solid gains in this holiday-shortened week as weak reports on the economy kept hopes alive for possible rate cuts in the near future. US markets were closed on Thursday for the Independence Day holiday. On Wednesday, the S&P 500 rose 0.5% to set an all-time high for a second straight day and for the 33rd time this year. Investors are also awaiting the US non-farm payrolls data due later in the day for further direction on when the Federal Reserve will begin rate cuts after recent soft economic data firmed bets of a start in September. Meanwhile, domestic equity indexes followed their US counterparts and ended higher this week. Still, gains were limited as uncertainties surrounding the Reserve Bank of Australia's interest rate trajectory weighed on sentiments.

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ASX 200 sheds 0.37% this week ahead of US inflation data

Wall Street indexes ended mixed this week ahead of the release of the crucial inflation report today. Investors maintained caution as indexes are hovering around their all-time highs. Today's inflation data could influence the US Federal Reserve's decision on when to start cutting interest rates, which are at their highest level in more than two decades. Market participants are betting that the central bank will start cutting interest rates at its September meeting. Meanwhile, domestic equity indexes ended lower this week after May inflation data released earlier this week triggered fears among investors that the Reserve Bank of Australia could consider hiking rates again in its next meeting in August.

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ASX 200 gains 0.93% this week as metals rebound

Even after Thursday's correction, Wall Street indexes posted decent gains for this week, as several reports released earlier this week suggested the world's biggest economy is weakening as high interest rates have hurt the housing market and manufacturing, while lower-income households are showing signs of struggling to keep up with rising prices. While this may not be good news for the US economy, it may prompt the US Federal Reserve to deliver the much-awaited rate cut as soon as September. Meanwhile, domestic equity indexes also closed this week higher as metals stocks partially rebounded from their recent lows. The optimism on US rate cut expectation boosted investors' sentiment, leading to buying in some rate-sensitive stocks.

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ASX 200 sheds 1.73% this week as mining stocks struggle

Wall Street indexes extended their gaining streak this week, with the Nasdaq and the S&P 500 registering their fourth consecutive record closing highs on Thursday. Wednesday's lower-than-expected CPI data and Thursday's producer prices data boosted confidence that inflation is on the path to reaching the US Federal Reserve's long-term target range soon, although the US central bank lowered rate-cut expectations this year from three to one. US Treasury yields touched their lowest levels since early April, boosing tech stocks further. However, domestic equity markets underperformed US markets as mining stocks extended decline and fell to a three-month low on continued weakness in commodity prices. Investors also exercised caution before next week's Reserve Bank of Australia meeting.

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ASX 200 jumps over 2% this week on commodity boost

Wall Street indexes registered solid gains this week, with the S&P 500 setting an all-time high for the 25th time this year. While the frenzy around artificial intelligence technology kept sending stocks higher, Treasury yields fell in the bond market following some mixed data on the economy. One report said real estate, health care and other businesses in the US services sector returned to growth last month and beat economists’ forecasts. Perhaps more importantly for Wall Street, the Institute for Supply Management report also said prices rose at a slower pace in May than a month before. Domestic indexes also followed their US counterparts and registered strong gains this week, reacting to the release of some data points on the economy front and global developments.

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ASX 200 sheds 0.34% this week on inflation data

Wall Street indexes fell this week, trimming their gains for May, which had been on track to be its best month since November 2023. Investors were on a back foot this week following a jump in Treasury yields amid concern over the timing and scale of possible rate cuts from the US central bank. Caution also prevailed in the market ahead of the inflation data due today. Meanwhile, domestic equity indexes closed lower this week following hotter-than-expected inflation data for April. However, indexes trimmed their losses for the week following Friday's gains, which came on the back of expected stimulus from China. A recent survey suggested China's factory activity weakened, suggesting prolonged economic stress.

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ASX 200 gains for fourth week on Fed rate cut optimism

Major Wall Street indexes extended last week's gains to scale record highs this week, with the widely followed Dow Jones Industrial Average briefly topping 40,000 for the first time. Stronger-than-expected corporate earnings and revived hopes that the US Federal Reserve will be able to cut its main interest rate at least once this year fuelled investor optimism. However, a weaker-than-expected report on the housing industry led to some profit booking in stocks on Thursday. Domestic indexes also benefitted from the optimism on Wall Street and witnessed gains led by financials, tech and select material stocks.

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ASX 200 posts solid gains this week on fresh Fed rate cut hopes

Wall Street shares posted solid gains this week after a report showed a pickup in layoffs. The number of workers applying for unemployment benefits rose more than economists expected, though it remains relatively low compared with history. This could be a sign the world's biggest economy can pull off a hoped-for balancing act of staying solid enough to avoid a recession, but not so strong that it puts upward pressure on inflation. Also, the yield on the 10-year Treasury eased, supporting tech stocks. Australian shares also followed their US counterparts and posted gains led by buying energy, financials, and select materials stocks.

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ASX 200 up 0.70% this week ahead of RBA rate decision

US shares managed to wrap up the week with gains after the Federal Reserve said it is likely delaying cuts to interest rates but not planning to hike them. Market participants have already downshifted their expectations for rate cuts this year to one or two after coming into the year forecasting six or more rate cuts. Meanwhile, Treasury yields eased Thursday ahead of a report on Friday from the US government on how many jobs employers added last month. Domestic shares followed their US counterparts and posted weekly gains amid a broad-based rally across sectors. Also, caution prevailed ahead of the Reserve Bank of Australia's (RBA) monetary policy announcement on 7 May. The RBA is broadly expected to hold rates next week.

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Australian shares end flat this week on inflation data

US shares ended this volatile week on a flat to positive note. During the week, US stocks felt the pressure of another rise in Treasury yields following a disappointing report that said the growth of the world's biggest economy slowed to a 1.6% annual rate during the first three months of this year, down from 3.4% at the end of 2023. A sharp drop in some tech stocks like Meta Platforms Inc. weighed on Nasdaq. Meanwhile, Australian shares came under selling pressure in the last two trading sessions of the week after higher-than-expected inflation data led to the belief that the RBA could evaluate further rate increases this year.

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ASX shares end lower amid rising bond yields, Middle East tensions

Wall Street indexes witnessed sharp declines this week as yields in the bond market moved higher, given that investors have largely given up on hopes that the Federal Reserve will deliver multiple cuts to interest rates this year. Tech stocks led the sell-off in the market. Meanwhile, tensions in the Middle East also weighed on investors' sentiment after Israel reportedly launched retaliatory strikes on Iran on Friday. Australian equity benchmark ASX 200 fell to a three-month low on Friday, taking its weekly loss to nearly 3% as escalating tensions in the Middle East fuelled fears of a widening Middle East war.

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ASX 200 edges higher this week as traders slash rate cut bets

Wall Street stock indexes posted solid gains this week despite worries that interest rates may stay high for a while as a handful of Big Tech stocks, such as Apple and Nvidia, witnessed buying. Treasury yields held relatively steady following a mixed batch of data on inflation and the US economy this week. The main question that has been dominating Wall Street is when or whether the Federal Reserve will deliver the cuts to interest rates. However, domestic equity indexes failed to mirror Wall Street gains this week as a broad sell-off in consumer stocks, materials, financials and energy stocks weighed on the benchmark, limiting its weekly gains.

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ASX 200 jumps 1.31% this week on Fed rate cut hopes

US stocks gained this week, with all three major indexes posting record highs. The US central bank said it still expects to make three rate cuts this year, helping calm some worries on Wall Street that it would pull some cuts off the table following some hotter-than-expected inflation reports released last week. Australian shares also advanced this week following gains in US equity markets as the Federal Reserve's comments boosted the risk appetite of domestic investors, leading to buying in financials, tech and other rate-sensitive stocks.

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ASX 200 drops over 2% this week on US inflation reports

Wall Street indexes edged lower this week after a mixed batch of economic data dashed hopes that easier interest rates may arrive very soon. On Thursday, a report showed inflation was hotter at the wholesale level last month than economists expected. It’s the latest in a string of data on inflation that’s been worse than forecast. Other reports released Thursday also showed some softening in the economy, which kept alive hopes that the long-term trend for inflation remains downward. Australian equity indexes underperformed their US counterparts this week as Materials dragged following the US wholesale inflation report for February 2024. Rate-sensitive financial stocks also witnessed profit booking, weighing on the benchmark index.

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ASX 200 ends at record high for second week amid rate cut bets

Wall Street stocks extended their gaining streak this week, with both S&P 500 and Nasdaq closing at record highs, on increasing investor optimism about prospects for Federal Reserve rate cuts this year. Fed Chair Jerome Powell told a US Senate committee that the US central bank is "not far" from being confident inflation is declining toward the 2% target, making rate cuts possible. Australian shares also mirrored the gains on Wall Street, with the ASX 200 closing at a record high on Friday, supported by interest rate-sensitive financial stocks, as investors continued to bet on monetary policy easing after the US Fed projected rate cuts over the next 12 months.

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ASX 200 hits record high on blue-chip earnings surge

US stocks extended their gaining streak this week, with the Nasdaq surpassing its all-time high recorded in 2021 and the S&P 500 breaking above the record high set last week. These gains followed an inflation report that showed prices across the country rose in line with expectations in January and calmed investors' worries that the inflation data could show a discomforting reacceleration. Meanwhile, Australian shares outperformed their US counterparts, with the ASX 200 Index hitting a fresh all-time high on Friday on the back of solid earnings from most of the Aussie blue-chip stocks. Market participants also believe the RBA will pivot to rate cuts in 2024.

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ASX 200 edges lower this week ahead of inflation data

Technology stocks drove gains on Wall Street this week. Strong earnings from some of the biggest names in the technology sector, such as Nvidia, triggered a rally in other technology companies that carried Wall Street to another record high. Domestic indexes failed to mirror the gains on Wall Street and ended with minor losses this week as investors shifted their focus to inflation print (due next week) for further cues on the RBA's policy decision next month. Minutes of the previous RBA meeting suggest that the central bank had considered hiking rates by another quarter-point, which shocked market participants.

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ASX 200 edges higher this week as resources rebound on weaker USD

Wall Street indexes witnessed modest gains this week after a report suggested sales at US retailers weakened more than expected in January from December. Lower retail sales could remove some upward inflation pressure. Another report said fewer US workers applied for unemployment benefits last week than expected, which is another signal of a solid job market despite high-profile announcements of layoffs. Other reports Thursday morning painted a mixed but better-than-feared picture of the manufacturing industry. Domestic indexes also closed with gains this week but underperformed their US counterparts. This gain was supported by the resources sector, which rebounded on Friday as a weaker US dollar pushed commodity prices higher.

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ASX all ordinaries down 0.59% amid profit booking in Uranium stocks

Wall Street indexes registered solid gains this week as the US economy has surpassed expectations for a recession. The latest show of strength came from a report indicating fewer workers applied for unemployment benefits last week than expected. The number remains low relative to history, even if layoffs at Google’s parent company, Macy’s, and other big names got attention recently. Meanwhile, domestic indexes settled this week with losses as uranium stocks witnessed profit booking, but technology and telecommunications stocks helped cap losses.

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ASX 200 index jumps to record high amid rally in rate-sensitive stocks

US equity indexes ended mixed this week after the US central bank held interest rates steady while dashing hopes for an interest rate cut as soon as March. Markets also reacted to a spate of high-profile corporate earnings. However, domestic equity markets outperformed their US counterparts supported by positive inflation data, which cemented the case for the Reserve Bank of Australia to keep the cash rate steady at its policy meeting next week. Buying was visible across sectors, including Financials, Materials and Technology stocks.

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ASX 200 shed 1% last week as materials drag

US equity indexes managed a positive closing this week as Thursday's rally wiped out all the losses witnessed earlier in the week. Robust labour market data gave further evidence about the strength of the US economy, boosting investors' confidence even though it could prompt the Federal Reserve to hold off on lowering its key policy rate. Domestic equity indexes underperformed their US counterpart and closed ~1% lower this week, despite Friday's gains, as investors trimmed their bets on the timing of anticipated rate cuts.

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ASX 200 gains 0.12% this week on positive November inflation data

Wall Street indexes rallied this week to claw back almost all the losses of the first week of the year as easing Treasury yields relaxed the pressure on the stock market. However, gains were capped as the US consumer price indicator increased 3.4% in the year through December, the highest in three months, tempering expectations that the Federal Reserve will start cutting rates in March. Domestic equity indexes edged up this week as November CPI, dropped to 4.3% annually from 4.9% in October. This development suggests that the RBA may maintain its cash rate in the next meeting in February.

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ASX 200 extends gains this week as RBA holds key rates

US equity indexes saw continued growth this week as promising economic data hinting at potential monetary policy easing by the Federal Reserve boosted optimism. Additionally, tech-heavy Nasdaq climbed higher, driven by upbeat quarterly forecasts from select tech companies. On Thursday, updated data revealed that the US economic growth in Q3 was not as strong as previously indicated, reinforcing expectations for a potential cut in interest rates. Domestic shares also continued to rise, supported by materials stocks. The Reserve Bank of Australia's decision to maintain current interest rates amid signs of easing inflation contributed to this positive trend in the market.

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US Fed rate cut indication pushes Australian shares higher this week

US stock indexes witnessed solid gains this week after the Federal Reserve maintained status quo on key policy rates and indicated that the cuts to interest rates may be coming next year. Benchmark Treasury yields dropped to multi-month lows after investors rotated out of momentum growth stocks following the US Federal Reserve's dovish pivot. Australian equity indexes outperformed their US counterparts as most sectors, including materials, technology, and financials, witnessed buying after the US Fed's rate cut indication.

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RBA rate pause, modest GDP growth propel ASX 200 higher this week

US stock indexes saw modest increases this week as optimism grew that the Federal Reserve has completed its series of interest rate hikes aimed at curbing inflation. Investors are confident that the Fed can successfully manage a smooth landing for the economy and the jobs market. At the same time, local equity indexes outperformed their US counterparts, boosted by the Reserve Bank of Australia's interest rate pause and modest third-quarter GDP growth data announced earlier this week.

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Australian shares gain this week as October inflation data boosts sentiments

US stocks took a breather this week following a consistent climb throughout November. Wall Street indexes ended November with their biggest monthly gain in more than a year as investor optimism soared on the belief that the Federal Reserve might have concluded its interest rate hikes. Those hopes got more support with a report that the Fed’s preferred measure of inflation cooled last month. The S&P 500 rose 8.9% in November, while Nasdaq finished the month with 10.7% gains. Meanwhile, domestic indexes registered modest gains this week as October inflation eased by more than expected, which will likely persuade the RBA to keep rates unchanged next week.

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ASX 200 sheds 0.12% this week ahead of retail, inflation data

Wall Street shares extended gains for the fourth straight week. But gains were capped after minutes from Fed’s last meeting showed policymakers fighting with conflicting signals and agreeing to continue with caution after leaving the Fed funds target rate at 5.25-5.50%. Profit booking was also visible after the sharp rally in the past few weeks. Meanwhile, domestic indexes ended with minor losses this week, ahead of key domestic data due next week, which will provide insights on RBA's monetary policy path. The RBA, over the past few days, has been ringing warning bells over inflation being driven by domestic demand, which would require a more substantial monetary response, lending more importance to the upcoming data

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ASX 200 extends gaining streak on US inflation data cheers

The ongoing rally in Wall Street indexes got further legs this week following a larger-than-anticipated drop in US inflation last month, sparking optimism for a potential halt to interest rate increases. This decrease in inflation signals a possible slowdown in the US economy, though it could potentially avoid a recession. However, domestic indexes failed to catch up with the gains on Wall Street as strong employment and wage data increased chances of further interest rate hikes by RBA. The September quarter wage growth was the strongest on record, and the annual pay rise was the biggest since March 2009. Base wages rose 1.3% over the three months to September and 4% over the past year.

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Australian shares end flat this week as RBA hikes rates after 5 months

This week, Wall Street shares continued their upward trend, although the extent of the gains was limited. The rise in bond yields on Thursday, fueled by a report affirming the robustness of the US job market, constrained the overall market growth. Bond yields increased to 4.63% from Wednesday's closing rate of 4.50%, following the US government's announcement of the results of a $24 billion Treasury bond sale. Federal Reserve Chair Jerome Powell also stated that the Fed is prepared to raise interest rates further if it perceives that high inflation is not effectively managed. In contrast, domestic indexes concluded the week on a flat note after the Reserve Bank of Australia raised interest rates for the first time in five months on Tuesday.

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ASX 200 surges over 2% this week amid optimism over US interest rates

US stocks gained this week as Treasury yields dropped to 4.67% on Thursday from more than 5% last week, its highest level since 2007, as the Federal Reserve maintained status co on key interest rates. Market participants believe the Federal Reserve may finally be done with its interest rate hikes. Meanwhile, optimism was also visible in domestic equity markets as 10 out of 11 sectoral indexes gained, pushing the ASX 200 index 1.14% higher on Friday. The Australian benchmark gained 2.22% this week, buoyed by hopes that the US Central Bank might be done raising interest rates.

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Global sell-off, rate hike expectations weigh on Australian shares this week

US stocks extended their falling streak this weak as well, with the Nasdaq and S&P 500 falling 4.48% and 3.29%, respectively, on a weekly basis. The latest bout of selling came after large companies such as Meta Platforms warned an uncertain global economy may hurt their profits. Meta said some initial softness in advertising is visible due to the latest Israel-Hamas war. Domestic indexes also fell this week as investors priced in another rate hike by the Reserve Bank of Australia as early as November after data on Wednesday showed the CPI rose 1.2% in the third quarter, above the market forecasts of 1.1%.

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Middle East tensions, employment data drag ASX200 2.13% down this week

US stocks corrected this week as Treasury yields surged on expectations that interest rates would stay higher for longer. Weaker earnings by some Wall Street tech titans like Tesla and rising oil prices amid Middle East tension also weighed on sentiments. Australian shares also followed their US counterparts as Middle East tensions rose and employment data missed expectations. Australian equity benchmark ASX 200 declined 2.13% this week amid broad-based sell off.

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ASX 200 snaps 6-day gaining streak, rises 1.39% this week

The S&P 500 ended its 4-day gaining streak on Thursday after bond yields rose again following the release of US Treasury auction results and consumer inflation data that showed inflation was slightly higher last month than economists expected. However, major US stock indexes closed higher this week. The ASX 200 also snapped its 6-day gaining streak on Friday, weighed down by financials and gold stocks. This week, the Australian benchmark added 1.39%.

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ASX 200 ends below 7,000 as higher bond yields lead to 1.34% weekly loss

The S&P 500 lost nearly 1% this week as Treasury yields increased after a Labor Department report showed US job openings increased unexpectedly in August, indicating tight labor market conditions. Stronger-than-expected jobs report deepened worries over interest rates staying higher for longer, pushing Treasury yields higher and dragging megacap stocks lower. Meanwhile, the ASX 200 index managed to trim weekly losses to 1.34% this week as financials gained on Friday.

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ASX 200 Contained its Losses amid Positive Energy and Material Sector Performance

Wall Street stocks extended losses this week before reversing some on Thursday. The US Fed's message that rates will remain higher for longer has rattled markets as the 10-year Treasury yield jumped. Both equity and bond markets came under pressure as crude oil prices surged to hit a fresh 2023 high on Wednesday. Crude price jump could push fuel prices further, challenging the Fed's efforts to reduce inflation and the chances of a rate cut. The ASX 200 lost 0.29% this week as gains in energy and materials stocks helped partially offset losses in other sectors.

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Interest rate woes push ASX200 2.89% lower this week

US stocks fell sharply this week after the Federal Reserve maintained status quo on key interest rates as widely expected but indicated another 25 basis points rate hike this year. Fed's revised economic projections led investors to believe that policymakers anticipate interest rates staying higher for longer. High growth and tech stocks were the biggest casualty of the Wall Street selloff this week.Domestic stocks also became the casualty of global market selloff and the US Fed's rate outlook.

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ASX 200 wraps up this week with gains on China stimulus hopes

US stocks managed to wrap up the week with modest gains as economic data released on Thursday eased worries about a recession without raising fears of another rate hike from the Federal Reserve rate next week. August retail sales rose more than expected due to higher gasoline prices, while initial jobless claims jumped to a seasonally adjusted 220,000 for the week ended September 9 from 217,000 the week before. The ASX 200 also finished higher this week amid expectations of further stimulatory measures from the Chinese government.

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Weak global cues weigh on Aussie shares as ASX 200 slips 1.67% this week

US stocks fell this week as strong economic data revived worries that the US Central Bank might keep interest rates high longer than investors had hoped. Treasury yields climbed after data showed the US services sector, the biggest contributor to the country's GDP, remained strong. The services sector remained resilient throughout 2023 despite persistent inflation and rising interest rates putting pressure on consumer spending. Due to weak China trade and US services sector data, domestic equity indexes also fell as investors adjusted their rate expectations.

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Easing of inflation number supported ASX 200 performance this week

Wall Street indexes gained this week, supported by economic data signalling a cooling US economy, reinforcing expectations that the Federal Reserve may pause rate hikes in September. An ADP National Employment report showed private payrolls increased by 177,000 jobs in August, compared with estimates of 195,000, suggesting a softening labour market. Fresh gross domestic product numbers showed the US economy expanded 2.1% in the second quarter, slower than a preliminary estimate of a 2.4% growth. Meanwhile, domestic equities witnessed buying after the CPI indicator rose 4.9% in the 12 months to July 2023, down from 5.4% in June.

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ASX 200 fell 0.46% this week ahead of US Fed interest rates speech

Wall Street shares witnessed buying this week amid encouraging earnings from companies like Nvidia and some positive newsflow on the economy front. However, gains were limited as bond yields still remain elevated, and caution prevailed ahead of Federal Reserve Chair Jerome Powell's speech on Friday. ASX 200 settled this week 0.46% lower, led by losses in tech and materials stocks as investors sought clarity on the interest rate trajectory.

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ASX 200 sheds 2.62% this week amid concerns over struggling Chinese economy

Wall Street indexes corrected this week as US Treasury yields continued to rise as investors believed high-interest rates are likely to stay longer following a series of stronger-than-expected economic data, coupled with Wednesday's meeting minutes suggesting Federal Reserve officials were still focusing on containing inflation. Back home, concerns about the health of the Chinese economy spooked investors, resulting in a correction in ASX-listed shares.

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ASX 200 ends week with minor gains amid mixed global cues

Wall Street indexes ended Thursday's volatile session with minor gains on inflation data, which was better than feared. Both headline and core consumer prices climbed by 0.2% in July, with the headline number registering an annual rise of 3.2% and 4.7%, respectively. Investors were worried about the longer-term prospects of the world's biggest economy and whether there was further scope for stocks to advance, leading to a weekly decline in main indexes. Domestic equity indices ended lower on Friday, led by energy stocks, but on weekly basis ended with minor gains.

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ASX 200 sheds 1.06% this week as Aussie dollar plummets

Wall Street shares fell for a third day on Thursday following an interest rate hike in Britain. Investors were unnerved after Fitch Ratings cut its credit rating on US government debt. A global bond market selloff following this rating cut led to profit booking in stocks. Meanwhile, domestic indices were also impacted by the US credit rating cut, with the Australian dollar registering the biggest single-day drop since March on Thursday.

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ASX 200 snaps 3-day gaining streak amid rate hike fears

Wall Street indices broke their multi-week gaining streak as US Fed Reserve Chairman Jerome Powell suggested the Central Bank has not reached the end of its tightening cycle. Meanwhile, domestic equity indices corrected on recession risks. Few ASX-listed companies that are expected to publish their earnings update next week include Metcash Limited (ASX: MTS), Collins Foods Limited (ASX: CKF), Ricegrowers Limited (ASX: SGLLV) etc.

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ASX 200 trims gains, ends volatile week 0.15% higher as tech stocks drag

Corporate earnings were the main driving factors for Wall Street indices this week. While solid bank earnings helped boost sentiments, drops in Tesla and Netflix shares following their quarterly results weighed down on Nasdaq and other indexes, offsetting most of the earlier gains. Tesla tumbled 9.7%, while Netflix sank 8.4% on Thursday, pulling down the tech-heavy Nasdaq by more than 2%. Meanwhile, domestic equity indices also trimmed gains towards the end of the week and ended mostly flat, driven by losses in tech shares.

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ASX 200 wraps up the week with 3.7% gains as US inflation fears subside

Wall Street stocks gained this week, with the Nasdaq rising more than 1% for a second straight day on Thursday after data showed the annual increase in US producer inflation was the smallest in nearly three years. The data provided additional evidence that inflation pressures were subsiding after Wednesday's CPI report showed US consumer prices registered their smallest annual increase in more than two years. Meanwhile, a change in sentiment helped the ASX 200 index post 3.7% gains this week, rising to a three-week high.

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ASX 200 tumbles as US labour data stokes interest rate hike fears

Wall Street indexes trimmed gains towards the end of the holiday-shortened week as data showing a strong labour market boosted bond yields and triggered fears the Federal Reserve would aggressively raise interest rates. Private payrolls surged far more than expected in June, while the monthly US employment report gave evidence of a solid labour market, boosting chances of further rate hikes. Domestic equities also witnessed selloff towards the end of the week, with the ASX 200 index falling to a three-month low on US rate hike fears.

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ASX Surged this Week as Inflation Reduces to 14-month low

Wall Street indexes mostly ended this week on a flat note as bank shares rallied after major lenders cleared the US Federal Reserve's annual stress test. Domestic equity indexes managed to wrap up the week with modest gains supported by buying in tech and energy stocks. Few ASX-listed companies that are expected to publish their earnings update next week include Imdex (ASX: IMD), TTA Holdings Limited (ASX: TTA), Xref Limited (ASX: XF1) etc.

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ASX-200 turned red this week amid fears of recessiong

Wall Street indices broke their multi-week gaining streak as US Fed Reserve Chairman Jerome Powell suggested the Central Bank has not reached the end of its tightening cycle. Meanwhile, domestic equity indices corrected on recession risks. Few ASX-listed companies that are expected to publish their earnings update next week include Metcash Limited (ASX: MTS), Collins Foods Limited (ASX: CKF), Ricegrowers Limited (ASX: SGLLV) etc.

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ASX 200 Hits 1-Month High Amid Broad Based Buying

Kalkine's Weekly Stock Market Digest is a recapitulation of one week's equity and commodity market performance, designed to keep the user abreast of the factors impacting the market performance.

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Rebound in Wall Street Kept the ASX Market Resilient this Week

Kalkine's Weekly Stock Market Digest is a recapitulation of one week's equity and commodity market performance, designed to keep the user abreast of the factors impacting the market performance.

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Weekly Digest Edition 1

Kalkine's Weekly Stock Market Digest is a recapitulation of one week's equity and commodity market performance, designed to keep the user abreast of the factors impacting the market performance.

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