Rio Tinto iron production sliced by cyclone


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The ASX is set for a bright start to the month on the back of a strong performance by Wall Street on Friday.


A new day, week, month and quarter today; and what a difference a little time can make. 3 months ago, at least for some, global financial markets stood at the brink of ruin. It was December 24 last year that the SP500 hit its low, but it wasn’t until the start of January that something resembling a turnaround in US stocks transpired. Fast forward to now, and Wall Street is over 12 per cent higher, and though at stages has looked extremely vulnerable to turnarounds, or at least pull-backs, to date, no such thing has occurred. And now, after Friday’s trade, the whispering speculation is whether the SP is headed for new all-time highs.


Signs of a pick-up in risk appetite are becoming more apparent on the ASX, though. The play into tech and bio-tech are always good signs. A fluke rally in iron can persist in the short-term and keep the materials space performing well. The fall in the Australian Dollar and RBA rate expectations has done its bit to bolster the market as well, attracting capital to our markets, and inspiring a chase for yield in defensive sectors.


Article source: https://www.watoday.com.au/national/western-australia/hang-glider-practising-for-major-event-killed-near-merredin-20190224-p50zvb.html?ref=rss&utm_medium=rss&utm_source=rss_feed

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