\u00a0<\/p>\n
The local benchmark ended the shortened Aussie Day week up circa 2% and TBFH, looks a likely candidate to soon join some of the other global equity markets to clock all-time highs.<\/p>\n
The ASX200\u2019s big name sectors flexed their muscles to provide some welcome positive momentum, with Financials, Energy, Healthcare and Materials at the fore.<\/p>\n
The Big Banks had a field week.<\/p>\n
\u00a0<\/p>\n
In the US\u2026<\/strong><\/em><\/p>\n Wall Street, meanwhile\u00a0 put six straight positive sessions to the sword on Friday, as discretion proved the better part of valour and a few cash rate cut punters cashed their chips.<\/p>\n Calls to take the points were nigh universal in NY, although not universally appreciated.<\/p>\n Subsequently, there\u2019s a bit more cash looking on from the sidelines to start Monday, but not nearly as much as a betting man would\u2019ve thought. There\u2019s just not enough good bad news (re: US inflation) nor enough bad good news (re: US economy) for US traders to change up their strategies. Growth, strength and the expectation of more. A familiar US outlook.<\/p>\n The majors US indices closed out the week higher \u2013 the S&P up 1.05%, the Dow Jones, 0.65%, and the Nasdaq Composite a 0.6% gain.<\/p>\n On the data front last week, America\u2019s much-anticipated December Core PCE fell to 2.9% beating the 3% expected, a near three-year low.<\/p>\n The core US PCE shifted lower too, looking for all money like a disinflation trend.<\/p>\n \u201cFed rate cuts are coming. The only question is when,\u201d IG Markets analyst Tony Sycamore told Stockhead<\/em> last week.<\/p>\n Elsewhere, Tesla crashed a little more last week, after the company missed analyst estimates on both revenue and earnings.<\/p>\n The price war with Chinese competitors has taken a heavy toll on Tesla\u2019s margins, and with the stock\u2019s valuation being extremely stretched, the underwhelming results served as a reality check for many investors.<\/p>\n Chinese markets\u2026<\/strong><\/em><\/p>\n Chinese stock markets climbed for a third session post various supportive central government policies to get capital markets back at it.<\/p>\n Announcements finally did the trick in restoring investor confidence. The latest reports suggest Beijing will deploy about 2 trillion yuan to stabilise its markets by purchasing stocks directly. Beyond that, the central bank announced a sharp cut to bank reserves, a move that will inject liquidity into the banking system and hopefully kickstart growth.<\/p>\n Bitcoin\u2026<\/strong><\/em><\/p>\n Bitcoin is trading at circa US$42,100, up 1.3% for the week. Although\u2026 maybe let me find a chart to illustrate the roundabout way the cryptocurrency took to arrive there.<\/p>\n Gold\u2026<\/strong><\/em><\/p>\n And after a sluggish few sessions, the price of gold recovered a tad towards the end of the abbreviated Australia Day week.<\/p>\n The XAU\/USD spot gold price was trading around US$2,026\u00a0<\/strong>\u2013 back close again to where it was this time last week, having been down more than a tenner a few days ago.<\/p>\n \u00a0<\/p>\n ResMed (ASX:RMD)<\/strong><\/a> +6.36% rallied after reporting better-than-expected 2Q earnings after the close in the US, driven largely by better margins. Upgrades to come on this.<\/p>\n Mineral Resources (ASX:MIN)<\/strong><\/a> +7.07% released a 2Q production update which was as much about what they have achieved as it was about alleviating market concerns around their lithium exposure and specifically, the balance sheet. They did well on both fronts.<\/p>\n Domino\u2019s Pizza Enterprises (ASX:DMP)<\/strong><\/a> was walloped as they stepped away from prior guidance, the downgrade posted to the ASX at 7.17pm on Friday night \u2013 never positive and never a good look.<\/p>\n Fortescue (ASX:FMG)<\/strong><\/a> +2.04% maintained FY24 production guidance after shipping near-record levels of iron ore in 1H FY24.<\/p>\n Paladin Energy (ASX:PDN)<\/strong><\/a> +0.41% released an update, confirming the restart of operations at the Langer Heinrich uranium operation in Namibia have commenced with first ore being fed to the front end of plant on Jan 20th.<\/p>\n Resources names drove the local markets\u2019 fifth straight session of gains into the Australia Day long weekend, while the local Tech sector is becoming even further estranged from the power players on Wall Street.<\/p>\n The Property stocks fell away following a string of sector\u00a0 downgrades out of Barrenjoey.<\/p>\n That said, all 11 ASX Sectors ended the week higher. Nice.<\/p>\n \u00a0<\/p>\n Via MarketIndex<\/em><\/p>\n \u00a0<\/p>\n At home, its headline inflation data forecasts are for a significant slowdown in both quarterly and monthly terms. Other releases include December\u2019s retail sales and building permits.<\/p>\n Around the \u2018hood, we\u2019re watching Chinese manufacturing PMIs for January \u2013 very likely subdued as activity remained subdued despite several stimulus announcements.<\/p>\n In Japan, markets will assess the BoJ\u2019s Summary of Opinions for insights into the central bank\u2019s policy outlook. Other Japanese releases include January\u2019s consumer confidence and December\u2019s industrial production, retail sales, unemployment rate, and housing starts. Elsewhere, Q4 GDP reports are expected from the Philippines, Hong Kong, Taiwan, Saudi Arabia, and Qatar. Additionally, South Korea and Indonesia will update their inflation rates. <\/p>\n US non-farm payrolls on Friday night could see the US\u00a0 make a small shift either way on the date for a first Fed rate cut, which is currently fully priced in for May.<\/p>\n Aside from non-farm payrolls and FOMC meeting, US Q4 earnings season continues this week with reports scheduled from companies including Pfizer, Alphabet, Starbucks, AMD, Microsoft Corp previewed here, Mastercard, Boeing, Qualcomm, Meta, Apple previewed here, Amazon, Exxon Mobil Corp, and Chevron Corp.<\/p>\n \u00a0<\/p>\n All sources:\u00a0 Trading Economics, IG Markets, S&P Global Market Intelligence, CommSec\u00a0<\/em><\/strong><\/p>\n MONDAY TUESDAY<\/strong> WEDNESDAY<\/strong> THURSDAY<\/strong> FRIDAY<\/strong> MONDAY<\/strong> TUESDAY<\/strong> WEDNESDAY<\/strong> THURSDAY<\/strong> FRIDAY<\/strong> <\/span><\/p>\n The post Traders\u2019 Diary: Everything you need to get ready for the week ahead<\/a> appeared first on Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"Around the traps<\/h2>\n
ASX Sectors Last Week<\/h2>\n
The Week Ahead<\/h2>\n
The Aussie Economic Calendar<\/h2>\n
Monday January 29 \u2013 Friday February 2<\/h2>\n
\nAus Dec retail sales<\/p>\n
\nAustralia NAB Business Confidence (Dec)<\/p>\n
\nAustralia CPI (Q4)<\/p>\n
\nAustralia Building Permits (Dec, prelim)
\nJan CoreLogic home value index<\/p>\n
\nQ4 PPI
\nAustralia Home Loans (Dec)
\n\u00a0<\/p>\nThe Everyone Else Economic Calendar<\/h2>\n
Monday January 29 \u2013 Friday February 2<\/h2>\n
\nNew Zealand Trade (Dec)
\nSingapore MAS Monetary Policy Statement<\/p>\n
\nJapan Unemployment Rate (Dec)
\nFrance GDP (Q4, prelim)
\nSpain GDP (Q4, flash)
\nItaly GDP (Q4, advance)
\nUnited Kingdom Mortgage Lending and Approvals (Dec)
\nEurozone GDP (Q4, flash)
\nEurozone Economic Sentiment (Jan)
\nMexico GDP (Q4, prelim)
\nUnited States S&P\/Case-Shiller Home Prices (Nov)
\nUnited States JOLTs Job Opening (Dec)
\nUnited States CB Consumer Confidence (Jan)<\/p>\n
\nSouth Korea Industrial Production (Dec)
\nJapan BoJ Summary of Opinions (Jan)
\nChina (Mainland) NBS PMI (Jan)
\nPhilippines GDP (Q4)
\nJapan Consumer Confidence (Jan)
\nGermany Retail Sales (Dec)
\nUnited Kingdom Nationwide House Prices (Jan)
\nFrance Inflation (Jan, prelim)
\nTaiwan GDP (Q4, advance)
\nHong Kong SAR GDP (Q4, advance)
\nGermany Unemployment Rate (Jan)
\nGermany GDP (Q4, flash)
\nGermany Inflation (Jan, prelim)
\nUnited States ADP Employment Change (Jan)
\nCanada GDP (Dec, prelim)
\nUnited States Fed FOMC Interest Rate Decision
\nBrazil BCB Interest Rate Decision<\/p>\n
\nWorldwide Manufacturing PMIs, incl. global PMI* (Jan)
\nSouth Korea Trade (Jan)
\nIndonesia Inflation (Jan)
\nEurozone Inflation (Jan, flash)
\nEurozone Unemployment Rate (Dec)
\nItaly Inflation (Jan, prelim)
\nUnited Kingdom BoE Interest Rate Decision
\nUnited States ISM Manufacturing PMI (Jan)<\/p>\n
\nSouth Korea Inflation (Jan)
\nFrance Industrial Production (Dec)
\nUnited States Non-farm Payrolls, Average Hourly Earnings,
\nUnemployment Rate (Jan)
\nUnited States UoM Sentiment (Jan, final)
\nUnited States Factory Orders (Dec)<\/p>\n