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Today's trading on the ASX

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Evening Wrap: ASX 200 dips on Trump-Musk spat, but thawing trade tensions and rocketing silver price stokes miners.... S&P/ ASX 200 closed 23.2 points down or -0.27%​

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Evening Wrap: ASX 200 dips on Trump-Musk spat, but thawing trade tensions and rocketing silver price stokes miners

Aussie stocks were dragged lower by a combination of fears over the developing Trump vs Musk spat, but also due to the fact that Monday's non-trading day means there's 2-not-1 US trading sessions to contend with until they can again adjust their risk. On a brighter note, thawing trade tensions...
www.marketindex.com.au
 


Just to reply on the US markets, many tipsters are turning quite gloomy in their their mid-summer July/August outlook on US markets. This from Seeking Alpha a tipster and analysis website. I took a short upgrade subscription for a month to it's premium site from the free one.

As mentioned by @Dona Ferentes our markets are in lockstep with the US, I thought it interesting fundamental analysis to share.


"

MarketWatch

Inflation is a lagging indicator, and tariffs take time to work their way through the economy from producer to consumer. As they do, I think we will see negative rates of change continue to mount, a decelerating rate of economic growth, and a gradual uptick in consumer price inflation. This will likely keep the Fed on hold this summer until officials have a better grasp of how tariffs and trade policy are impacting the economy. Perhaps the S&P 500 can continue to levitate in the face of this downturn, but it seems more likely that we will have a summer pullback, if not another correction, to account for the uncertainty during these oncoming headwinds. "

gg
 
ASX futures are pointing down 3 points or 0.04% to 8556.
  • AUD up 0.4% to US65.17¢
  • Bitcoin up 2.4% to $US108,775
  • Gold up 0.5% to $US3325.87 an ounce
  • Brent oil up 0.9% to $US67.06 a barrel
  • Iron ore down 0.9% to $US94.65 a tonne
  • 10-year yield: US 4.47%, Australia 4.26%
 
Dona Ferentes said:
ASX futures are pointing down 3 points
Click to expand...
but, just for the record

Evening Warp: ASX 200 thumbs nose at Trump's trade war, sets another record as greed triumphs over fear! .. The S&P/ASX 200 closed 71.5 points higher, up 0.84%.​

Evening Wrap: ASX 200 thumbs nose at Trump's trade war, sets another record as greed triumphs over fear!

Record high or not (you know the ASX 200 closed at a record high on a total return basis back on May 30!), one cannot understate just how impressive the recovery from President Trump's Trade War Correction is! Since the 7 April low, the ASX 200 Total Return Index has risen 17.2%. It's also now...
www.marketindex.com.au
 
Very happy with IOZ having a big red dot next to it during the day which meant 52 week high.
 
Brent crude is 0.57% lower at US$66.66 a barrel.
WTI crude is 0.47% lower at US$64.98 a barrel.
Spot gold is 0.01% lower at US$3,323.40 an oz.
Gold futures (COMEX) are 0.34% lower at US$3,343.40 an oz.
Iron ore down 0.4% to $US94.35 a tonne.
One Australian dollar is buying 65.23 US cents.

The SPI futures are pointing to a 23 point rise.
 
spluttering

..

Evening Wrap: ASX 200's gain hides heavy selling into new high, as property stocks prosper and uranium stocks plunge ... S&P/ ASX 200 closed 4.9 points higher, up 0.06%​

Evening Wrap: ASX 200's gain hides heavy selling into new high, as property stocks prosper and uranium stocks plunge

It's not the kind of emphatic close we'd ordinarily associate with a new high, and let's hope that this new high is not followed with the same post-high plunge experienced after the Valentine's Day one – caused by President Trump's trade war. Property, lithium and a selection of critical...
www.marketindex.com.au
 
Geopolitical risk sent crude prices sharply higher. WTI jumped 4.6% to US$67.97, while Brent rose 4.1% to US$69.61 after the US ordered partial evacuations from its embassy in Iraq due to rising security threats tied to Iran.

Spot gold is 0.86% higher at US$3,352.31 an oz
Gold futures (COMEX) are trading 0.93% higher at US$3,374.50 an oz.

One Australian dollar is 65.02 US cents.

The SPI futures are pointing to an 18 point rise
 
Dona Ferentes said:
The SPI futures are pointing to an 18 point rise
Click to expand...
ha ha gotcha

Evening Wrap: ASX 200 relinquishes highs despite rising gold, tech stocks, as major iron ore and lithium stocks plunge ....and a 27 point slip by end of the day​

Evening Wrap: ASX 200 relinquishes highs despite rising gold, tech stocks, as major iron ore and lithium stocks plunge

Rising Middle East tensions (and crude oil prices), coupled with sinking risk appetites, put a stop to our record breaking ways. Resources stocks, particularly those engaged in iron ore, lithium, and base metals production, were hit the hardest, but those aimed at producing shinier metals, like...
www.marketindex.com.au
 
ASX futures are pointing up 47 points or 0.6 per cent to 8606.
  • AUD up 0.5% to US65.30¢
  • Bitcoin down 2.8% to $US106,159
  • Gold up 0.9% to $US3386.45 an ounce
  • Brent oil up 0.4% to $US70.06 a barrel
  • Iron ore down 0.7% to $US94.45 a tonne
  • 10-year yield: US 4.36%, Australia 4.23%
 
Is it just me or are we experimenting huge variations lately between the ASX future and the closing price nearly daily?
Let's see how it goes today
 
ASX 200 Technical Outlook: Stretched Rally Meets Resistance AS Traders Eye Dips?
The ASX 200 (Australia 200 index) is poised to close higher for a fifth consecutive week — its best run since December 2023 — fuelled by optimism over softening US data, fading trade war fears, and potential rate cuts from the RBA and Fed. But with prices stalling near February’s intraday record high and technical signs pointing to exhaustion, bulls may want to tread carefully as we head into the weekend.

If a pullback were to materialise, I suspect it could be limited in the current environment. Trump’s trade was is fizzling out, US data is softening to a degree where the Federal Reserve (Fed) might soon consider cutting rates. And economic data in Australia is softening to a degree that could warrant two RBA cuts without fanning fears of a recession.

The ASX 200 index reached a record high on a daily-close basis this week, but momentum appears to be stalling beneath the February intraday all-time high (ATH). On the ASX 200 cash market, a bearish pinbar formed on Wednesday after printing a fresh intraday high, only to close back below the key February peak — a classic signal of rejection at resistance.

The daily RSI (14) has remained in overbought territory since June 3, and a bearish divergence is developing on the RSI (2). Together, these indicators warn of a potential near-term pullback in the Australian share market, even as broader sentiment still supports dip buying.

Should prices begin to retrace, the 10-day simple moving average (SMA) around the 8,500 level could act as a logical support zone. That said, pullbacks have been shallow to almost non-existent throughout the current uptrend — suggesting that only a sharp shift in sentiment would alter the prevailing bullish structure.

 
Dona Ferentes said:
ASX futures are pointing up 47 points
Click to expand...
and then the bombs started flying the Middle East

Evening Wrap: ASX 200 dips as massive gains in Energy, Gold, Defence, and Critical Minerals stocks save the day​

Evening Wrap: ASX 200 dips as massive gains in Energy, Gold, Defence, and Critical Minerals stocks save the day

As you likely already know, there's some stuff going on in the Middle East that's causing crude oil prices to shoot higher, dragging the likes of Woodside Energy (WDS) (+7.4%), Santos (STO) (+3.7%), and Karoon Energy (KAR) (+10.9%) with it. Also on the Middle East events rocket ship today, was...
www.marketindex.com.au
 
prudent action on a Friday would be to not leave open positions.

Wall St down ~ 1-2%,
  • Gold +1.4% to $US3432.34 an ounce
  • Brent oil +7.5% to $US74.58 a barrel
AUD down a fair bit, and ASX futures looking down ... 20 pts, but that is liable for revision
 
Dona Ferentes said:
ASX futures looking down ... 20 pts, but that is liable for revision
Click to expand...
Brent crude is 7.02% higher at US$74.23 a bbl.
WTI crude is 7.26% higher at US$72.98 a barrel.
Spot gold is 1.37% higher at US$3,432.34 an oz.
Gold futures (COMEX) are 1.48% higher at US$3,452.80 an ounce.

One Australian dollar is buying 64.86 US cents.
 

Evening Wrap: ASX 200 escapes Middle East scare as Santos takeover and surging energy stocks steady ship .... The S&P/ASX 200 closed 1.0 point higher.​

Evening Wrap: ASX 200 escapes Middle East scare as Santos takeover and surging energy stocks steady ship

It would be easy to dismiss a 5% surge in Energy stocks as being a direct result of higher crude oil prices, but no! To pour fuel on the fire (a poor pun indeed!), Energy stocks were further boosted by a takeover offer for No 2. constituent Santos (STO) (+11.0%) no less!
www.marketindex.com.au
 
ASX futures are pointing up 6 points or 0.1 per cent to 8566
  • AUD +0.8% to 65.38 US¢
  • Bitcoin +2.4% to $US108,083
  • Gold -1.3% to $US3,387.38 an ounce
  • Brent oil -1.5% to $US73.09 a barrel
  • Iron ore -0.3% to $US93.85 a tonne
  • 10-year yield: US 4.44%, Australia 4.23%
 
Australian shares are today expected to edge up around +0.1%, recovering some of the week-open losses we saw yesterday after it became clear the weekend’s Israel-Iran attacks would impact crude production less than expected.

Some traders have become softly dovish – and crude prices have slumped back – after new reports emerged that Iran is looking to end this latest bout of hostilities. There is a catch in Tehran’s stance, of course, with Iran’s leaders suggesting nuclear talks “would only be able to resume” if the U.S. refuses to join attacks.

No guarantee Israel comes to the table, but investors liked the news either way. Wall Street especially welcomed the reports: The S&P 500 is up +0.9%; the Nasdaq +1.5%.

Back home, Rio Tinto (ASX:RIO) and BHP Ltd (ASX:BHP) have landed environmental approval from the U.S. Department of Agriculture regarding their joint-run multi-billion-dollar underground copper mine to be built in Arizona.

Eyes remain on Santos (ASX:STO); the Aussie oil and gas producer has that $30B cash bid sitting on its table from Friday – a comfortable 28% premium on its $6.96 close.
 
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