Online Stockmarket Trading Update

*  US stock markets eased overnight, after Moody’s said the US may face a downgrade.
*  European stocks markets started the week on a positive note, hovering around 5-year highs.
*  Asian stock markets ended higher yesterday, holding around its 5-year highs.
*  Commodities prices higher, Gold prices are trading lower around $US1,384, while crude-oil closed around $US96.

The Aussie market held at 5-year highs, above the 5200 and is looking to open higher today, as stock prices closed higher in Europe, but ended flat in the US.

SPI Futures is trading just above the key level of 5200, ended up 0.1% (or  7 points) at 5,227. The key levels for the ASX200 index today are 5180 to 5270.  Expect miners to see some support, as gold rebounded overnight, but gold still held below the $1,400 level and iron ore prices now down over 20% from its February highs.

It will be busy later in the week for economic data with Manufacturing PMI data from Europe and China and from the US FOMC meeting minutes and Trade data.

Gold finds support on the back of Moody’s downgrade warning for the US.

See below for ASX listed companies in the news today.

US Markets

US stock markets eased overnight, after Moody’s said the US may face a downgrade.

The three benchmark indexes all ended down -0.1% for the session. The Dow Jones remained around the 15,350 level. The S&P500 again held above the 1660 level at all-time highs and has closed higher for ten of the last thirteen trading sessions (up 17% for the year).  Around 200 of the S&P500 stocks are at 52-week highs, the most since 1993.  The gains have been broad based as over 85 percent of S&P 500 stocks are trading above their 50 gay moving average, according to Bloomberg (the highest level since 14 March).  

The ten S&P sectors ended mixed with gains led by the Energy up sector over 1.4%,  followed by Financials and Industrials up 0.2%, while falls were led by Healthcare and  Consumer Staple sectors ended down around -0.7%.

Stock prices have been rising since the Fed Chairman Ben Bernanke confirmed that the Fed will continue its unprecedented stimulus until the jobless rate falls to 6.5 percent or inflation rises above 2.5 percent.  The S&P 500 has risen for past 6-months without a 5% pullback.

In commodities gold and silver rebounded after Moody’s Investors Service said US policy makers must address debt issues to avoid a credit-rating downgrade this year, sparking buy in the metals as a “safe haven”.

For the session Dow Jones closed down -0.1% at 15,335, the S&P500 closed down -0.1% at 1,666, and the NASDAQ closed down -0.1% at 3,496.

European Markets

Asian Markets

Asian stock markets ended higher yesterday  after ending higher for a second week, holding around its 5-year highs.

The MSCI Asia Pacific Index rose 0.4% for the session. The index is up 10% for the year and is on track for the longest winning streak since September 2009, on optimism over central bank stimulus, Japan will continuing to deploy more measures to beat deflation and as centrals banks remain supportive in the US and Europe.

In Japan the market rose holding above 15,300 at its highest level since December 2007, as exporters gained on the back of a weaker yen.

The Chinese market again saw some bargain hunting, as the Shanghai Composite is now in the positive for the year, having fallen as much as -9% from its February peak.  Property developers were higher after government data showed that housing prices continued to rise in April.  In Hong Kong the market also rose as traders speculated the government will not impose additional property curbs as the economy slows.

Of the around 430 companies on the MSCI Asia Pacific Index that reported their latest quarterly results since April, 53 percent have beaten analyst forecasts, according to Bloomberg.

For the session the Chinese Shanghai Composite closed up 0.7% at 2,300, the Hong Kong Hang Seng closed up 1.8% at 23,493, and the Japanese Nikkei closed up 1.5% at 15,361, while the South Korean KOSPI closed down 0.0% at 1,982.

Commodities

The Dollar Index was higher at 83.77 on a lower Euro, and the Aussie Dollar closed up at 0.9818.  Commodities prices traded higher.

Overnight the COMEX WTI Crude for MAY13 delivery closed up 0.7% at $US96.71, the COMEX Copper for May 13 delivery closed up 1.1% at 3.360, the COMEX Gold for JUN13 delivery closed up 1.4% at $US1,384.10.

ASX News Today

BHP – BHP Billiton, new chief executive Andrew Mackenzie has outlined plans to slash capital spending by almost 20%.

GPT – GPT Group the property owner, has sold its 50 percent stake in the Erina Fair shopping centre on the NSW central coast for $397 million.

LEI – Leighton Holdings the construction giant says it’s not concerned about the recent woes of mining services companies due to its diverse business interests and cyclical nature of the industry.

MQG – MacBank increased their hybrid offer from $4oom to $600m due to its popularity.

SGT – Optus says its rollout of its 4G network is expected to reach 70 percent of Australia’s metropolitan population by the middle of 2014.

MAH – Macmahon Holdings the mining services provider shares surged, after it detailed positive growth in a “changing and challenging environment”.

SYD – Sydney Airport has forecast larger distributions for its shareholders as its number of passengers continues to rise.

WBC – Westpac Bank has has dropped its one year fixed home loan rate for new customers to 4.79 per cent.

WES – Wefarmers is off target after Target’s profits have been hit by a late start to winter, which means Target’s EBITDA will plunge by 40% for FY2013.

WOR – Worley Parson joined other mine service companies down grading their profit forecasts, citing a slowdown in Western Australia’s mining industry for its profit downgrade.

Market Summary

ASX – to open higher
US & UK/Europe – US flat, EU higher.

US ADRs – Broadly  higher!!…

ANZ +0.4%, NAB 1.4%
BHP +0.6%, RIO +1.3%, NEM 5.4%

By Michael Hevern
D2MX Investment Advisor

For trade ideas and recommendations on how to trade in this market, sign up for a free trial of the D2MX Daily Trading Report, call 1300 610 024 or email advisory@d2mx.com.au.

*  US stock markets rose for a fourth week, holding at another all-time high as consumer confidence rises.
*  European stocks markets ended the week higher, up for a fourth week and hovering around 5-year highs.
*  Asian stock markets ended higher for a second week, holding around its 5-year highs.
*  Commodities prices generally higher, Gold prices are trading lower around $US1,359, while crude-oil closed around $US96.

The Aussie market held at 5-year highs, around the 5200 and is looking to open higher today, as stock prices closed higher in Europe and in the US.

SPI Futures is trading just above the key level of 5200, ended up 0.3% (or  19 points) at 5,212. The key levels for the ASX200 index today are 5200 to 5260.  Expect miners to see some support, but gold miners will still weigh as gold held below the $1,400 level and iron ore prices now down over 20% from its February highs.

It will be a busy week for economic data with Manufacturing PMI data from Europe and China and from the US FOMC meeting minutes and Trade data.

The ASX 200 is set to push higher today.

See below for ASX listed companies in the news today.

US Markets

US stock markets rose for a fourth week, holding at another all-time high as consumer confidence rises.

The three benchmark indexes all ended up 1% for the session. The Dow Jones remained above the 15,350 level. The S&P500 again closed held at the 1660 level at all-time highs and up 2.1% for the week and has closed higher for ten of the last twelve trading sessions (up 17% for the year).  Nearly 200 of the S&P500 stocks are at 52-week highs, the most since 1993.  The gains have been broad based as over 85 percent of S&P 500 stocks are trading above their 50 gay moving average, according to Bloomberg (the highest level since 14 March).

Stock prices have been rising since the Fed Chairman Ben Bernanke confirmed that the Fed will continue its unprecedented stimulus until the jobless rate falls to 6.5 percent or inflation rises above 2.5 percent.  All ten S&P sectors ended higher with gains led by the Energy and Industrials up sectors over 1.5%,  followed by Materials and  Technology  sectors all ended  up around 1.0%.   For the month the Dow Jones is up 5.6%, the S&P500 is up 7.6% and the NASDAQ is up 6.3%.

Trader sentiment was boosted as American’s confidence in the economy  rose in May to the highest level in nearly six years as rising real estate values and record  equities prices boosted household wealth.  Elsewhere the index of US leading indicators climbed in April, rebounding from March and iindicating the world’s largest econmony may be poised for further expansion.

For the session Dow Jones closed up 0.8% at 15,354, the S&P500 closed up 0.9% at 1,667, and the NASDAQ closed up 1.0% at 3,498.

European Markets

Asian Markets

Asian stock markets ended higher for a second week, holding around its 5-year highs.

The MSCI Asia Pacific Index ended eased -0.2% for the session. The index is up 10% for the year and is on track for the longest winning streak since September 2009, on optimism over central bank stimulus, Japan will continuing to deploy more measures to beat deflation and as centrals banks remain supportive in the US and Europe.

In Japan the market eased but held above 15,000 at its highest level since December 2007, on the back of a weaker yen. Japanese gross domestic product surprised, rising an annualised 3.5 percent in the three months through March, the most in a year (better than the forecast 2.7%), while fourth-quarter growth was revised to 1 percent.  The yen has fallen 18% this year and every time the yen falls below a key level, the Nikkei passes reached another milestone because it boosts corporate profits, especially for manufacturers and exporters.

The Chinese market saw some bargain hunting, having its best gain in 2-weeks, as the Shanghai Composite is now in the positive for the year, having  fallen as much as  -9% from its February peak.  In Hong Kong the market also rose, despite the Chinese Premier Li Keqiang signaled policy makers are reluctant to use stimulus to counter an economic slowdown.  Traders speculated the government will not impose additional property curbs as the economy slows.

Of the around 420 companies on the MSCI Asia Pacific Index that reported their latest quarterly results since April, 53 percent have beaten analyst forecasts, according to Bloomberg.

For the session the Chinese Shanghai Composite closed up 1.4% at 2,283, the Hong Kong Hang Seng closed up 0.2% at 23,082, and the Japanese Nikkei closed up 0.7% at 15,138, while the South Korean KOSPI closed up 0.8% at 1,986.

Commodities

The Dollar Index was higher at 83.77 on a lower Euro, and the Aussie Dollar closed down at 0.973.  Commodities prices traded higher.

Overnight the COMEX WTI Crude for MAY13 delivery closed up 0.9% at $US96, the COMEX Copper for May 13 delivery closed up 0.9% at 3.323, the COMEX Gold for JUN13 delivery closed down -1.9% at $US1,359.

ASX News Today

BHP – BHP Billiton, new chief executive Andrew Mackenzie has outlined plans to slash capital spending by almost 20%.

CBA – CommBank has lifted its third quarter profit by 12 percent to $1.9 billion.

GNC – Graincorp Australia’s largest grains handler has reported one-third profit drop as regulators consider a takeover bid from an American food giant.

MAH – Macmahon Holdings the mining services provider shares surged, after it detailed positive growth in a “changing and challenging environment”.

SYD – Sydney Airport has forecast larger distributions for its shareholders as its number of passengers continues to rise.

RIO- Rio is facing union troubles as the maritime union has accused the owners of a Newcastle coal terminal of “continued belligerence” amid an ongoing industrial dispute at the facility.

TAH – Tabcorp the gambling firm has begun legal action against the Victorian government over a poker machine levy set to cost the company millions of dollars.

VAH – Etihad has increased its stake in Virgin Australia after Virgin announced a profit warning issued by the airline.

WBC – Westpac Bank has has dropped its one year fixed home loan rate for new customers to 4.79 per cent.

WES – Wefarmers is off target after Target’s profits have been hit by a late start to winter, which means Target’s EBITDA will plunge by 40% for FY2013.

WOR – Worley Parson joined other mine service companies down grading their profit forecasts, citing a slowdown in Western Australia’s mining industry for its profit downgrade.

WPL – Woodside Petroleum is keeping an eye on an offshore gas field in Mozambique that is five times bigger than its North West Shelf project.

WRT – Westfield Retail Trust says consumer confidence is improving but shoppers are still cautious and sales growth is still low.

Market Summary

ASX – to open higher
US & UK/Europe – higher.

US ADRs – Broadly  higher!!…

ANZ +1.1%, NAB 0.1%
BHP +1.0%, RIO +0.6%, NEM -2.5%

By Michael Hevern
D2MX Investment Advisor

For trade ideas and recommendations on how to trade in this market, sign up for a free trial of the D2MX Daily Trading Report, call 1300 610 024 or email advisory@d2mx.com.au.

*  US stock markets fell overnight,  easing back from another all-time high.
*  European stocks markets ended flat, hovering around 5-year highs overnight, as BoE raised its forecasts.
*  Asian stock markets ended lower yesterday, backing off its 5-year highs.
*  Commodities prices generally higher, Gold prices are trading around $US1,389, while crude-oil closed around $US95.

The Aussie market held at 5-year highs, around the 5200 and is looking to open flat today, as stock prices closed modestly lower in Europe and in the US.

SPI Futures is trading just above the key level of 5200, ended up 0.1% (or  9 points) at 5,177. The key levels for the ASX200 index today are 5130 to 5200.  Expect miners to remain under pressure with the falling commodity prices, with gold cracking the $1,400 level and iron ore prices now down over 20% from its February highs.

The Japanese market is at 4 1/2 year highs, driven by moves in the Japanese currency (Yen).

See below for ASX listed companies in the news today.

US Markets

US stock markets fell overnight,  easing back from another all-time high.

The three benchmark indexes all ended up over 0.4%, recovering from earlier selling due to soft manufacturing data. The Dow Jones closed remained above the 15,200 level. The S&P500 again closed held at the 1650 level near all-time highs and has closed higher for ten of the last eleven trading sessions (up 16% for the year).  Nearly 200 of the S&P500 stocks are at 52-week highs, the most since 1993.  The gains have been broad based as over 85 percent of S&P 500 stocks are trading above their 50 gay moving average, according to Bloomberg (the highest level since 14 March).

All the ten S&P sectors ended lower, except for Technology up 0.5%, with falls led by the Healthcare and Consumer Discretionary sectors down over -1.1%, followed by Materials, Energy and Industrials sectors all ended down around -0.5%.  The Homebuilder index slumped -1.9% as all 11 members closed lower.

Traders took profits after the Fed Bank of San Francisco President John Williams said the central bank may begin slowing the pace of its $85 billion in monthly bond-buying amid signs the economy is gradually gaining strength.   Stock prices have been rising since the Fed Chairman Ben Bernanke confirmed that the Fed will continue its unprecedented stimulus until the jobless rate falls to 6.5 percent or inflation rises above 2.5 percent.

In economic news reports suggested a slowdown in US economic growth, as manufacturing in the Philadelphia region unexpectedly contracted in May for the first time in three months as new orders retreated and factories cut back on employment and hours, while jobless claims jumped by 32,000 to 360,000 in the week ended 11 May, the most since the end of March and housing starts slumped 16.5 percent in April, the most since February 2011.

For the session Dow Jones closed down -0.3% at 15,233, the S&P500 closed down -0.5% at 1,650, and the NASDAQ closed down -0.2% at 3,465.

European Markets

Asian Markets

Asian stock markets ended lower yesterday, backing off its 5-year highs.

The MSCI Asia Pacific Index ended gained 0.8% for the session. The index is up 10% for the year and is on track for the longest winning streak since September 2009, on optimism over central bank stimulus, Japan will continuing to deploy more measures to beat deflation and as centrals banks remain supportive in the US and Europe.

In Japan the market eased but held above 15,000 at 4 1/2 year highs, on the back of a weaker yen.  The pullback was despite Japanese gross domestic product surprising, rising an annualized 3.5 percent in the three months through March, the most in a year (better than the forecast 2.7%), while fourth-quarter growth was revised to 1 percent.  The yen has fallen 18% this year and every time the yen falls below a key level, the Nikkei passes reached another milestone because it boosts corporate profits, especially for manufacturers and exporters.

The Chinese market saw some bargain hunting, having its best gain in 2-weeks, as the Shanghai Composite is now only down -0.8% for the year, having  fallen around -9% from its February peak.  In Hong Kong the market also rose, despite the Chinese Premier Li Keqiang signaled policy makers are reluctant to use stimulus to counter an economic slowdown.

Of the around 420 companies on the MSCI Asia Pacific Index that reported their latest quarterly results since April, 53 percent have beaten analyst forecasts, according to Bloomberg.

For the session the Chinese Shanghai Composite closed up 1.2% at 2,252, the Hong Kong Hang Seng closed up 0.2% at 23,083, and the Japanese Nikkei closed down -0.4% at 15,037, while the South Korean KOSPI closed up 0.8% at 1,987.

Commodities

The Dollar Index was higher at 83.60 on a lower Euro, and the Aussie Dollar closed up at 0.9825.  Commodities prices traded higher.

Overnight the COMEX WTI Crude for MAY13 delivery closed up 0.9% at $US95.16, the COMEX Copper for May 13 delivery closed up 0.9% at 3.295, the COMEX Gold for JUN13 delivery closed down -0.7% at $US1,386.90.

ASX News Today

BHP – BHP Billiton, new chief executive Andrew Mackenzie has outlined plans to slash capital spending by almost 20%.

CBA – CommBank has lifted its third quarter profit by 12 percent to $1.9 billion.

FMG – Iron ore hopeful Brockman Resources is seeking access to Fortescue Metal Group’s rail infrastructure in the Pilbara region of WA.

GNC – Graincorp Australia’s largest grains handler has reported one-third profit drop as regulators consider a takeover bid from an American food giant.

MAH – Macmahon Holdings the mining services provider shares surged, after it detailed positive growth in a “changing and challenging environment”.

NWS – Foxtel says it will compensate its customers who did not receive a promised free television within 10 days as promised as part of a promotional offer.SYD – Sydney Airport has forecast larger distributions for its shareholders as its number of passengers continues to rise.

RIO- Rio is facing union troubles as the maritime union has accused the owners of a Newcastle coal terminal of “continued belligerence” amid an ongoing industrial dispute at the facility.

TAH – Tabcorp the gambling firm has begun legal action against the Victorian government over a poker machine levy set to cost the company millions of dollars.

VAH – Virgin Australia announces a profit warning issued by the airline.

WPL – Woodside Petroleum is keeping an eye on an offshore gas field in Mozambique that is five times bigger than its North West Shelf project.

WRT – Westfield Retail Trust says consumer confidence is improving but shoppers are still cautious and sales growth is still low.

Market Summary

ASX – to open flat
US & UK/Europe – flat.

US ADRs – Broadly  lower!!…

ANZ -1.2%, NAB -1.5%
BHP -0.2%, RIO -1.4%, NEM -0.4%

By Michael Hevern
D2MX Investment Advisor

For trade ideas and recommendations on how to trade in this market, sign up for a free trial of the D2MX Daily Trading Report, call 1300 610 024 or email advisory@d2mx.com.au.

*  US stock markets continued higher overnight,  closing at another all-time high.
*  European stocks markets rose, again at new 5-year highs overnight, as BoE raised its forecasts.
*  Asian stock markets ended generally higher yesterday, despite lower commodity prices.
*  Commodities prices lower, Gold prices are trading around $US1,396, while crude-oil closed around $US94.

The Aussie market held at 5-year highs, around the 5200 and is looking to open higher again today, on index options expiry, as stock prices closed higher in Europe and in the US.

SPI Futures is trading just above the key level of 5200, ended up 0.1% (or 2 points) at 5,203. The key levels for the ASX200 index today are 5180 to 5230.  Expect miners to remain under pressure with the falling commodity prices, with iron ore prices now down 20% from its February highs.

The Aussie dollar has been crushed in the past month and is holding below parity.

See below for ASX listed companies in the news today.

US Markets

US stock markets continued higher overnight,  closing at another all-time high and has closed higher for nine of the ten nine trading sessions (up 16.4% for the year).

The three benchmark indexes all ended up over 0.4%, recovering from earlier selling due to soft manufacturing data. The Dow Jones closed remained above the 15,200 level. The S&P500 again closed held above the 1650 level another all-time high. The gains have been broad based as over 85 percent of S&P 500 stocks are trading above their 50 gay moving average, according to Bloomberg (the highest level since 14 March).

The ten S&P sectors ended higher, except for Energy down -0.3%, with gains led by the Financials and Consumer Discretionary sectors up over 0.9%, followed by Materials, Healthcare, Technology and Industrials sectors all ended up around 0.4%.

Traders speculate the the Fed will continue to print money, as the the Fed Chairman Ben Bernanke has said he will continue unprecedented stimulus until the jobless rate falls to 6.5 percent or inflation rises above 2.5 percent.

In economic news manufacturing in the New York region unexpectedly shrank in May as factories received fewer orders and sales stalled, while US industrial production declined in April by the most in eight months, in response to broad-based cutbacks in factory output and indicating American manufacturers will provide little support for their flagging economy buffeted by weaker global demand and federal budget cuts.

For the session Dow Jones closed up 0.4% at 15,276, the S&P500 closed up 0.5% at 1,659, and the NASDAQ closed up 0.3% at 3,472.

European Markets

Asian Markets

Asian stock markets ended higher yesterday, as Japanese traders took their market traded at 4 1/2 year highs.

The MSCI Asia Pacific Index ended gained 0.8% for the session. The index is up 10% for the year and is on track for the longest winning streak since September 2009, on optimism over central bank stimulus, Japan will continuing to deploy more measures to beat deflation and as centrals banks remain supportive in the US and Europe.

In Japan the market closed above 15,000 for the first time since 2007, on the back of a weaker yen. The yen has fallen 18% this year and every time the yen falls below a key level, the Nikkei passes reached another milestone because it boosts corporate profits, especially for manufacturers and exporters.

The Chinese and in Hong Kong the markets rose, despite the Chinese Premier Li Keqiang signaled policy makers are reluctant to use stimulus to counter an economic slowdown. The Shanghai Composite has fallen around -9 percent from its February peak.

Of the around 420 companies on the MSCI Asia Pacific Index that reported their latest quarterly results since April, 53 percent have beaten analyst forecasts, according to Bloomberg.

For the session the Chinese Shanghai Composite closed up 0.4% at 2,225, the Hong Kong Hang Seng closed up 0.5% at 23,044, and the Japanese Nikkei closed up 2.3% at 15,096, while the South Korean KOSPI closed up 0.1% at 1,971.

Commodities

The Dollar Index was higher at 83.60 on a lower Euro, and the Aussie Dollar closed down at 0.989.  Commodities prices traded lower.

Overnight the COMEX WTI Crude for MAY13 delivery closed up 0.1% at $US94.30, the COMEX Copper for May 13 delivery closed down -0.3% at 3.277, the COMEX Gold for JUN13 delivery closed down -2.0% at $US1,396.20.

ASX News Today

BHP – BHP Billiton, new chief executive Andrew Mackenzie has outlined plans to slash capital spending by almost 20%.

CBA – CommBank has lifted its third quarter profit by 12 percent to $1.9 billion.

CSR – CSR the building products group has posted a $147 million loss, says it believes Australia’s housing market is recovering.

DXS – Dexus Property Group has sold five of its six remaining European industrial properties for a total of EUR16.5 million ($A21.72 million).

FXJ – Fairfax says the politicians need to adapt to the 24-hour news cycle and could be better off not talking to the media.

RIO – RIO Federal Environment Minister Tony Burke has approved Rio Tinto Alcan’s South of Embley bauxite mine and port development project in western Cape York.

SGT – Optus Australia’s second-biggest telco, has suffered a 7.5 percent slump in net profit for the first quarter.

UGL – United Group the engineering firm UGL has blamed a slowdown in resources and infrastructure investment for a big downgrade in its profit guidance.

MAH – Macmahon Holdings the mining services provider shares surged, after it detailed positive growth in a “changing and challenging environment”.

SKC- SkyCity Entertainment Group has penned a deal to build a $402-million convention centre in exchange for increased gambling concessions.

WRT – Westfield Retail Trust says consumer confidence is improving but shoppers are still cautious and sales growth is still low.

Market Summary

ASX – to open higher
US & UK/Europe – higher.

US ADRs – Broadly  lower!!…

ANZ -0.2%, NAB -0.3%
BHP -1.7%, RIO -2.1%, NEM -2.9%

By Michael Hevern
D2MX Investment Advisor

For trade ideas and recommendations on how to trade in this market, sign up for a free trial of the D2MX Daily Trading Report, call 1300 610 024 or email advisory@d2mx.com.au.

*  US stock markets continued higher overnight, after a third straight week of gains.
*  European stocks markets rose towards new 5-year highs overnight.
*  Asian stock markets ended generally higher yesterday.
*  Commodities prices lower, Gold prices are trading around $US1,424, while crude-oil closed around $US94.

The Aussie market held at 5-year highs, around the 5200 and is looking to open higher again today, as stock prices closed higher in Europe and in the US.

SPI Futures is trading above the key level of 5200, ended up 0.6% (or 30 points) at 5,255. The key levels for the ASX200 index today are 5200 to 5270.  Expect traders to digest the $21 billion turnaround in the Federal Budget today.

The US S&P500 at another all-time high and has closed higher for eight of the past nine trading sessions (up 16% for the year).

See below for ASX listed companies in the news today.

US Markets

US stock markets continued higher overnight, after a third straight week of gains.

The three benchmark indexes all ended up over 0.8%, building on the gains of the previous week. The Dow Jones closed remained above the 15,200 level. The S&P500 again closed held above the 1650 level around another all-time high and has closed higher for eight of the past nine trading sessions (up 16% for the year). The gains have been broad based as around 85 percent of S&P 500 stocks are trading above their 50 gay moving average, according to Bloomberg (the highest level since 14 March).

The ten S&P sectors ended higher with gains led by the Financials and Energy sectors up over 1.3%, followed by Materials, Healthcare, Technology and Industrials sectors all ended up around 1.1%. In economic news the National Federation of Independent Business reported confidence among small businesses climbed in April to a six-month high as the outlook for the economy and sales improved.

For the session Dow Jones closed up 0.8% at 15,215, the S&P500 closed up 1.0% at 1,650, and the NASDAQ closed up 0.7% at 3,463.

European Markets

Asian Markets

Asian stock markets ended generally higher yesterday, but Japanese traders took some profits off the table, as that market traded at 4 1/2 year highs.

The MSCI Asia Pacific Index ended gained 0.2% for the session. The index is up 10% for the year and is on track for the longest winning streak since September 2009, on optimism over central bank stimulus, Japan will continuing to deploy more measures to beat deflation and as centrals banks remain supportive in the US and Europe.

In Japan the market eased back from its highest level since December 2007, despite the support from the utilities sector, while in Hong Kong the market eased.

The Chinese market fell again, as JPMorgan cut its growth outlook for the world’s second-largest economy, citing softening domestic demand and property developers weighed on concerns that the government will act to curb growth in the sector.  The Shanghai Composite has fallen -9 percent from its February peak.

Of the around 390 companies on the MSCI Asia Pacific Index that reported their latest quarterly results since April, 52 percent have beaten analyst forecasts, according to Bloomberg.

For the session the Chinese Shanghai Composite closed down -1.1% at 2,217, the Hong Kong Hang Seng closed down -0.3% at 22,930, and the Japanese Nikkei closed down -0.2% at 14,758, while the South Korean KOSPI closed up 1.0% at 1,969.

Commodities

The Dollar Index was higher at 83.60 on a lower Euro, and the Aussie Dollar closed  up  at 0.990.  Commodities prices traded lower.

Overnight the COMEX WTI Crude for MAY13 delivery  closed  down -1.0% at $US94.21, the COMEX Copper for May 13 delivery  closed  down -2.0% at 3.292, the COMEX Gold for JUN13 delivery  closed down -0.7% at $US1,424.50.

ASX News Today

AZJ – Aurizon the rail operator, has begun talks to sell a stake in its rail track infrastructure that would free up money to expand and lead to a break up of the business.

BLY – Boart Longyear the mineral drilling services and products supplier  has named Jay Clement as its acting chief financial officer.

IFZ – Infratil is mulling the float of its Z Energy chain of petrol stations, reported a drop in full-year profit after writing down the value of its UK airports and recognising accounting
charges.

IPL – Incitec Pivot the explosives and fertiliser maker, says first half profit has dropped 23 percent with its fertiliser operations hit by the high Australian dollar.

MAH – Macmahon Holdings the mining services provider shares surged, after it detailed positive growth in a “changing and challenging environment”.

SKC- SkyCity Entertainment Group has penned a deal to build a $402-million convention centre in exchange for increased gambling concessions.

TEN – Ten Network will be broadcast the 2014 Winter Olympics

WRT – Westfield Retail Trust says consumer confidence is improving but shoppers are still cautious and sales growth is still low.

Market Summary

ASX – to open higher
US & UK/Europe – higher.

US ADRs – Broadly  lower!!…

ANZ -0.3%, NAB -0.6%
BHP -0.1%, RIO -1.9%, NEM -0.3%

By Michael Hevern
D2MX Investment Advisor

For trade ideas and recommendations on how to trade in this market, sign up for a free trial of the D2MX Daily Trading Report, call 1300 610 024 or email advisory@d2mx.com.au.

*  US stock markets eased overnight, after a third straight week of gains.
*  European stocks markets eased back from 5-year highs overnight.
*  Asian stock markets ended mixed yesterday, but Japanese traders continue to push higher.
*  Commodities prices lower, Gold prices are trading around $US1,434, while crude-oil closed around $US95.

The Aussie market held at 5-year highs, around the 5200 and is looking to open modestly higher today, as stock prices closed flat in Europe and in the US.

SPI Futures is trading above the key level of 5200, ended up 0.3% (or 16 points) at 5,222. The key levels for the ASX200 index today are 5180 to 5250.  Expect market activity to be subdued ahead of tonight’s Federal Budget.

See below for ASX listed companies in the news today.

Economic Reports

Federal Budget tonight.

US Markets

US stock markets eased overnight, after a third straight week of gains, with the S&P500 and Dow Jones closing flat, after sales reports.

The three benchmark indexes all ended flat, but were up over 1% last week, building on the gains of the previous week. The Dow Jones closed remained above the 15,000 level. The S&P500 again closed held above the 1600 level around another all-time high and has closed higher for seven of the past eight trading sessions (up 15% for the year). The gains have been broad based as around 85 percent of S&P 500 stocks are trading above their 50 gay moving average, according to Bloomberg (the highest level since 14 March).

The ten S&P sectors ended mixed with gains led by the Healthcare and Financials sectors up 0.8% and 0.3% respectively, while the Materials led the falls down -0.7%, followed by Technology and Industrials sectors ended down around -0.3%. The Commerce Department reported US retail sales unexpectedly rose percent in April following a -0.5 percent drop in March.

For the session Dow Jones closed down -0.2% at 15,092, the S&P500 closed flat at 1,634, and the NASDAQ closed up 0.1% at 3,439.

European Markets

Asian Markets

Asian stock markets ended mixed yesterday, but Japanese traders continue to push their market to new 4 1/2 year highs.

The MSCI Asia Pacific Index ended gained 0.3% for the session, after rising 1.5% last week. The index is up 9.7% for the year and is on track for the longest winning streak since September 2009, on optimism over central bank stimulus, Japan will continuing to deploy more measures to beat deflation.

In Japan the market continued even higher, holding above 14,000, on the back of the weaker yen, while in Hong Kong the market also fell.

The Chinese market eased back from its 2-week high, as economic reports overshadowed speculation the government will postpone the resumption of initial public offerings.  The Shanghai Composite has fallen 7.9 percent from its February peak.  The National Bureau of Statistics reported Chinese industrial output in April rose 9.3 percent on year and an 8.9 percent increase in March, while retail sales gained 12.8 percent (up from 12.6 percent previously).

Of the around 365 companies on the MSCI Asia Pacific Index that reported their latest quarterly results since April, 52 percent have beaten analyst forecasts, according to Bloomberg.

For the session the Chinese Shanghai Composite closed down -0.2% at 2,242, the Hong Kong Hang Seng closed down -1.4% at 22,990, and the Japanese Nikkei closed up 1.2% at 14,782, while the South Korean KOSPI closed down 0.0% at 1,949.

Commodities

The Dollar Index was higher at 83.19 on a lower Euro, and the Aussie Dollar closed up at 0.996.  Commodities prices traded lower.

Overnight the COMEX WTI Crude for MAY13 delivery closed down -0.9% at $US95.17, the COMEX Copper for May 13 delivery closed up 0.2% at 3.360, the COMEX Gold for JUN13 delivery closed down -0.2% at $US1,434.30.

ASX News Today

AZJ – Aurizon the rail operator, has begun talks to sell a stake in its rail track infrastructure that would free up money to expand and lead to a break up of the business.

DXL – DuluxGroup the paint maker, hopes the new homes market will pick up later in the year, but further interest rate cuts could be needed to stimulate the sector.

IPL – Incitec Pivot the explosives and fertiliser maker, says first half profit has dropped 23 percent with its fertiliser operations hit by the high Australian dollar.

RIO – Workers at a Newcastle coal terminal are preparing to meet with management in an attempt to avert a planned strike.

SKC- SkyCity Entertainment Group has penned a deal to build a $402-million convention centre in exchange for increased gambling concessions.

TEN – Ten Network will be broadcast the 2014 Winter Olympics

WRT – Westfield Retail Trust says consumer confidence is improving but shoppers are still cautious and sales growth is still low.

Market Summary

ASX – to open modestly higher
US & UK/Europe – flat.

US ADRs – Broadly  mixed!!…

ANZ -1.3%, NAB +1.7%
BHP -1.3%, RIO -1.6%, NEM -1.5%

By Michael Hevern
D2MX Investment Advisor

For trade ideas and recommendations on how to trade in this market, sign up for a free trial of the D2MX Daily Trading Report, call 1300 610 024 or email advisory@d2mx.com.au.

*  US stock markets ended higher for a third straight week, after strong earnings reports.
*  European stocks markets closed higher for a third week, finishing around 5-year highs.
*  Asian stock markets pushed higher for the week, as Japanese traders pushed the market to new 4 1/2 year highs.
*  Commodities prices lower, Gold prices are trading around $US1,443, while crude-oil closed around $US95.

The Aussie market held at 5-year highs, around the 5200 and is looking to open modestly higher today, as stock prices closed the week higher in Europe and in the US after strong earnings reports.

SPI Futures is trading above the key level of 5150, ended up 0.1% (or 6 points) at 5,207. The key levels for the ASX200 index today are 5190 to 5240.  Expect market activity to be subdued ahead of tomorrow’s Federal Budget.

Traders are continuing their buying after confirmation of continuing global stimulus at central banks and the RBA has joined the party. The RBA has surprised economists by cutting the cash rate by 25 basis points to 2.75%, the lowest level since the GFC and at levels not seen since 1959. Economists had forecast a one in two chance of a rate cut.

See below for ASX listed companies in the news today.

Economic Reports

Australian Bureau of Statistics (ABS) housing finance for March
National Australia Bank monthly business survey for April

US Markets

US stock markets ended higher for a third straight week, with the S&P500  and Dow Jones closing at another record close, after strong earnings reports.

The three benchmark indexes all ended higher over 1% for the week, building on the gains of the previous week. The Dow Jones closed above the 15,000 level for the first time ever, while the S&P500 again closed above the 1600 level for another all-time high. The gains have been broad based as around 85 percent of S&P 500 stocks are trading above their 50 gay moving average, according to Bloomberg (the highest level since 14 March).

The ten S&P sectors ended  generally higher with gains, led by the Healthcare and Consumer Staples  sectors all up over 0.9%, while Financials, Technology and Industrials sectors ended up around 0.4%, however the Materials and Energy sectors fell -0.1% and -0.5% respectively.

Of the around 430 stocks S&P500 companies that have reported their financial results so far this season, 72 percent have beaten estimates for profit and 53 percent have exceeded forecasts for sales, according to Bloomberg. Earnings at S&P 500 companies have risen 1.1 percent in the first three months of the year, significantly up from the analysts’ forecast fall of -1.4%.  Analysts are now forecasting that earnings will now grow 6.8% this year.

For the session Dow Jones closed up 1.0% at 15,118, the S&P500 closed up 1.2% at 1,633, and the NASDAQ closed up 0.8% at 3,436.

European Markets

Asian Markets

Asian stock markets pushed higher for the week, as Japanese traders pushed the market to new 4 1/2 year highs.

The MSCI Asia Pacific Index ended eased 0.3% for the session and was up 1.5% for the week. The index is up around 10% for the year and is on track for the longest winning streak since September 2009, on optimism over central bank stimulus, Japan will continuing to deploy more measures to beat deflation.

In Japan the market continued even higher, trading above 14,000 for the first time since June 2008.  The Chinese market continued higher to new a 2-week high, as the central bank is on standby to support domestic growth, while in Hong Kong the market also rose.

Of the around 330 companies on the MSCI Asia Pacific Index that reported their latest quarterly results since April, 51 percent have beaten analyst forecasts, according to Bloomberg.

For the session the Chinese Shanghai Composite closed up 0.6% at 2,246, the Hong Kong Hang Seng closed up 0.5% at 23,321, and the Japanese Nikkei closed up 2.9% at 14,607, while the South Korean KOSPI closed down -1.7% at 1,994.

Commodities

The Dollar Index was lower at 82.18 on a higher Euro, and the Aussie Dollar closed down at 1.001.  Commodities prices traded higher.

Overnight the COMEX WTI Crude for MAY13 delivery closed down -0.4% at $US95.66, the COMEX Copper for May 13 delivery closed up 0.5% at 3.368, the COMEX Gold for JUN13 delivery closed down -0.4% at $US1,443.

ASX News Today

ANZ – ANZ has reduced its mortgage rate by 0.27 percentage points, becoming the first big lender to cut its interest rate deeper than the official change in cash rate.

DLX – Dulux Group are reporting their first half results today

IPL – Incitec Pivot are reporting their first half results today

UML – Unity Mining says its associate GoldStone Resources’ drilling program revealed a surface gold anomaly at the Ngoutou Project in Gabon.

UNS – Unilife the developer and supplier of injectable drug delivery systems has announced strong third quarter results.

WRT – Westfield Retail Trust annual general meeting today

Ex-Dividend Today

Macquarie Bank
Westpac Bank

Market Summary

ASX – to open modestly higher
US & UK/Europe – higher.

US ADRs – Broadly  lower!!…

ANZ -2.2%, NAB -0.8%
BHP -0.6%, RIO -0.8%, NEM -0.1%

By Michael Hevern
D2MX Investment Advisor

For trade ideas and recommendations on how to trade in this market, sign up for a free trial of the D2MX Daily Trading Report, call 1300 610 024 or email advisory@d2mx.com.au.

*  US stock markets eased overnight, holding at new highs, but snapping a 5-day winning streak .
*  European stocks markets held on to recent gains overnight, finishing at new highs not seen since June 2008.
*  Asian stock markets eased yesterday, as Chinese traders took profits after the CPI data.
*  Commodities prices lower, Gold prices are trading around $US1,457, while crude-oil closed around $US96.

The Aussie market held around the 5200 and is looking to open flat today, as stock prices held on to recent gains in Europe and in the US.

In Australia the unemployment rate fell to 5.5 percent in April, as the economy picked up more than 50,000 new jobs (34,500 full-time), making up for a drop in March. There are concerns over the accuracy of the figures. Earlier in the week the RBA has cut the rate to a record low yesterday of 2.75% and signaled that slowing inflation gives it room to ease policy. The futures market are predicting a better than 50 percent chance the Reserve Bank of Australia will lower its benchmark interest rate in July.

SPI Futures is trading above the key level of 5150, ended flat at 5,195. The key levels for the ASX200 index today are 5160 to 5200.

The Chinese Market has been lagging the world and is now at critical levels as seen on this weekly chart.

See below for ASX listed companies in the news today.

US Markets

US stock markets eased overnight, holding at new highs, after recent better-than-estimated earnings reports, but snapping a 5-day winning streak , as traders took profits on news that the Fed may be considering scaling back its stimulus.

The three benchmark indexes all edged lower around -02% overnight. The Dow Jones held above the 15,000 level again, while the S&P500 again closed above the 1600 level again. The gains have been broad based as over 80 percent of S&P 500 stocks are trading above their 50 day moving average, according to Bloomberg (the highest level since 13 February).  The ten S&P sectors ended mixed with falls led by the Financials and Consumer Discretionary sectors down -0.7%, while Utilities sector plunged -1.7% and the Healthcare and Consumer Discretionary sectors rose 0.2%.

Of the over 430 stocks S&P500 companies that have reported their financial results so far this season, 71 percent have beaten estimates for profit and 52 percent have exceeded forecasts for sales, according to Bloomberg. Earnings at S&P 500 companies have risen 1.1 percent in the first three months of the year, significantly up from the analysts’ forecast fall of -1.4%.

For the session Dow Jones closed down -0.2% at 15,082, the S&P500 closed down -0.4% at 1,627, and the NASDAQ closed down -0.1% at 3,409.

European Markets

Asian Markets

Asian stock markets eased yesterday, as Chinese traders took profits after the CPI data.  The MSCI Asia Pacific Index ended eased 0.3% for the session, hovering around 5-year highs.  The index is up around 10% for the year and is still on track for the longest winning streak since September 2009, on optimism over central bank stimulus, Japan will continuing to deploy more measures to beat deflation.

In Japan the market was up another 0.7% holding above 14,000 level, due to speculation the Bank of Japan (BoJ) will deploy more measures to beat deflation as policy makers in the US and Europe remain on standby to stimulate growth.  The Japanese index is up over 63% from its November lows, and is up 37% for this year alone.

The Chinese market eased back from 2-week highs, as Chinese CPI rose 2.4 percent for the month, while producer prices dell 2.6 percent, this was in contrast to the previous session data that showed  Chinese exports rose 14.7 percent in April, much better than the 9.2 percent forecast, while imports jumped 16.8 percent in April, again much better than the 13 percent forecast. In Hong Kong the market also eased on the Chinese CPI/PPI news.  The Korean market jumped after its central bank also cut interest rates.

Of the around 300 companies on the MSCI Asia Pacific Index that reported their latest quarterly results since April, 51 percent have beaten analyst forecasts, according to Bloomberg.

For the session the Chinese Shanghai Composite closed down -0.6% at 2,233, the Hong Kong Hang Seng closed down -0.1% at 23,211, and the Japanese Nikkei closed up 0.7% at 14,286, while the South Korean KOSPI closed  up 1.2% at 1,979.

ASX News Today

BHP – BHP Billiton will raise $734 million by issuing bonds in Canada.

BBG – Billabong surfwear retailer remains in a trading halt as talks continues over a possible takeover or other transaction.

CTX – Caltex says its first quarter profit has jumped almost 80 percent but, the refiners’ margins are likely to be squeezed as capacity in Asia and the Middle East grows.

GPT – GPT Group the property owner GPT Group has settled a class action brought against it by law firm Slater & Gordon for $75 million.

NWS – News Corp says profit nearly tripled in the quarter ended March, boosted by one-time gains and better results from its cable networks segment.   News says its Australian newspapers continue to weigh on earnings while the company’s planned split into entertainment and publishing segments is on target to be completed by the end of June.

MGR – Mirvac Property group says it is on track to meet its full year financial guidance after a review of its business.

NAB – More rate cuts are on the horizon after National Australia Bank joined its wealthy rivals with a $2.9 billion six month profit.

NWS -

RIO – Rio Tinto has copped a serve from its shareholders for what they see as miserly dividend payouts from the mining giant.

STO – Santos has flagged that it could return more cash to shareholders through higher dividends.

SIP – Sigma Pharmaceuticals the drugs wholesaler and pharmacy services provider, expects to keep paying out a large proportion of its profits to shareholders.

SWM – Seven West Media, the TV and newspaper owner, says cost savings would increase its net profit by more than $75 million in the 2013/14 financial year.

Commodities

The Dollar Index was higher at 82.20 on a lower Euro, and the Aussie Dollar closed down at 1.01.  Commodities prices traded lower.

Overnight the COMEX WTI Crude for MAY13 delivery closed down -0.4% at $US96.20, the COMEX Copper for May 13 delivery closed down -1.2% at 3.95, the COMEX Gold for JUN13 delivery closed down -0.6% at $US1,457.55.

Market Summary

ASX – to open lower
US & UK/Europe – flat

US ADRs – Broadly  lower!!…

ANZ -1.2%, NAB -3.6%
BHP -1.0%, RIO -2.5%, NEM -2.2%

By Michael Hevern
D2MX Investment Advisor

For trade ideas and recommendations on how to trade in this market, sign up for a free trial of the D2MX Daily Trading Report, call 1300 610 024 or email advisory@d2mx.com.au.

*  US stock markets continue to make new highs, with the S&P500 up for a fifth straight day.
*  European stocks markets closed higher overnight, finishing at new highs not seen since June 2008.
*  Asian stock markets pushed higher for a third day, as Chinese traders pushed prices higher.
*  Commodities prices higher, Gold prices are trading around $US1,474, while crude-oil closed around $US96.

The Aussie market held above the 5100 and is looking to open higher today, as stock prices were higher in Europe and in the US after strong earnings reports.  The RBA has cut the rate to a record low yesterday of 2.75% and signaled that slowing inflation gives it room to ease policy. The futures market are predicting a better than 50 percent chance the Reserve Bank of Australia will lower its benchmark interest rate in July.

SPI Futures is trading above the key level of 5150, ended up 0.3% (or 13 points) at 5,205. The key levels for the ASX200 index today are 5180 to 5240.

Traders are continuing their buying after confirmation of continuing global stimulus at central banks and the RBA has joined the party.

Markets continue higher globally.

See below for ASX listed companies in the news today.

US Markets

US stock markets continue to make new highs, with the S&P500 up for a fifth straight day and Dow Jones closing at another record close, after better-than-estimated earnings reports.

The three benchmark indexes all edged higher around 0.5% overnight, building on the gains of the prior session. The Dow Jones held above the 15,000 level again, while the S&P500 again closed above the 1600 level for another all-time high. The gains have been broad based as around 86 percent of S&P 500 stocks are trading above their 50 gay moving average, according to Bloomberg (the highest level since 13 February).  All ten S&P sectors ended with gains, led by the Financials, Materials, Energy and Technology sectors all up over 0.8% again and closely followed by the Industrials sector up 0.6%.

Of the around 430 stocks S&P500 companies that have reported their financial results so far this season, 72 percent have beaten estimates for profit and 53 percent have exceeded forecasts for sales, according to Bloomberg. Earnings at S&P 500 companies have risen 1.1 percent in the first three months of the year, significantly up from the analysts’ forecast fall of -1.4%.

For the session Dow Jones closed up 0.3% at 15,105, the S&P500 closed up 0.4% at 1,633, and the NASDAQ closed up 0.5% at 3,413.

European Markets

Asian Markets

Asian stock markets pushed higher for a third day, as Chinese traders pushed prices higher following a better than expected trade balance report.

The MSCI Asia Pacific Index ended up another 1% for the session, with all ten sectors finishing in the green.  The index is up around 9.8% for the year and is on track for the longest winning streak since September 2009, on optimism over central bank stimulus, Japan will continuing to deploy more measures to beat deflation.

In Japan the market was up another 0.7% holding above 14,000 level, due to speculation the Bank of Japan (BoJ) will deploy more measures to beat deflation as policy makers in the US and Europe remain on standby to stimulate growth.  The Japanese index is up over 63% from its November lows.

The Chinese market continued higher to new 2-week high, as Chinese exports rose 14.7 percent in April, much better than the 9.2 percent forecast, while imports jumped 16.8 percent in April, again much better than the 13 percent forecast. In Hong Kong the market also rose on this news.

Of the around 250 companies on the MSCI Asia Pacific Index that reported their latest quarterly results since April, 49 percent have beaten analyst forecasts, according to Bloomberg.

For the session the Chinese Shanghai Composite closed up 0.5% at 2,246, the Hong Kong Hang Seng closed up 0.9% at 23,244, and the Japanese Nikkei closed up 0.7% at 14,286, while the South Korean KOSPI closed up 0.1% at 1,956.

ASX News Today

BBG – Billabong is expected to issue an update about its potential takeover soon.

BHP – BHP Billiton will raise $734 million by issuing bonds in Canada.

CCL – Coca-Cola Amatil have continued to fall after it issued an 10% earnings downgrade on Tuesday.

CDY – Cellmid the Australian biotech company announced it will acquire Japanese business Advangen.

GPT – GPT Group the property owner GPT Group has settled a class action brought against it by law firm Slater & Gordon for $75 million.

NWS – News Corp says profit nearly tripled in the quarter ended March, boosted by one-time gains and better results from its cable networks segment.

SIP – Sigma Pharmaceuticals the drugs wholesaler and pharmacy services provider, expects to keep paying out a large proportion of its profits to shareholders.

SWM – Seven West Media, the TV and newspaper owner, says cost savings would increase its net profit by more than $75 million in the 2013/14 financial year.

Commodities

The Dollar Index was higher at 82.28 on a lower Euro, and the Aussie Dollar closed up at 1.018.  Commodities prices traded higher.

Overnight the COMEX WTI Crude for MAY13 delivery closed up 1.0% at $US96.62, the COMEX Copper for May 13 delivery closed up 2.1% at 3.371, the COMEX Gold for JUN13 delivery closed up 1.7% at $US1,473.70.

Market Summary

ASX – to open higher
US & UK/Europe – higher.

US ADRs – Broadly  higher!!…

ANZ -0.1%, NAB +0.5%
BHP +2.5%, RIO +2.3%, NEM +4.5%

By Michael Hevern
D2MX Investment Advisor

For trade ideas and recommendations on how to trade in this market, sign up for a free trial of the D2MX Daily Trading Report, call 1300 610 024 or email advisory@d2mx.com.au.