Personally, it feels to me as though we may get one last push higher from earnings this week but good earnings are quite a mature theme here. On the micro-side, we get 24% of the S&P 500 reporting, including Apple on Friday morning at 07:30 aest, but one questions just how much inspiration on the earnings side is baked into markets, given we have seen 8.4% aggregate EPS growth from the 55% of S&P 500 corporates due to report, where 78% have beaten on earnings. What's on this week: There is certainly enough event risk for both macro- and micro-focused investors and traders to contend with this week. Should this materialise it would portray much about the level of control the bulls have here and while short sellers are having a tough time of late, if you are an investor and looking to increase cash allocations within portfolios, you may ask yourself, "Can I sell at higher levels"?Ģ. So naturally, the target for today for the bulls is a close through these highs. This close is a whisker away from the year-to-date (ytd) high of 5945 printed on 2 May, while our ASX 200 opening call of 5936 is subsequently eyeing a break of the YTD high of 5956.
ASX: The open for the Aussie market is certainly looking constructive, with SPI futures gaining 34-points in the Friday night session and closing at 5921. Political concerns of our own threw the ASX 200 rally temporarily off balance on Friday, but with calmer heads prevailing this morning, we should look back on Friday's news flow as nothing more than noise.
0 kommentar(er)
