Welcome to Extreme Investor Network, where we dive deep into the world of stock markets, trading, and all things Wall Street. Today, let’s take a look at the recent performance of the ASX 200 and what it means for investors.
The ASX 200 saw a modest increase of 0.19% on Friday, following the positive trend set by the Dow mini. Gold, oil, and mining stocks played a significant role in driving the early gains, with BHP Group Ltd (BHP), Rio Tinto Group Ltd. (RIO), and Evolution Mining Ltd (EVN) all posting gains.
On the flip side, uncertainty surrounding the RBA rate path led to declines in bank stocks, with Commonwealth Bank of Australia (CBA) and National Australia Bank Ltd. (NAB) both experiencing losses. The Australian Judo Bank Services PMI also dipped slightly in June, raising concerns about inflation and its implications for the RBA.
Warren Hogan, Chief Economic Advisor at Judo Bank, commented on the price trends, noting that while inflation may be easing slightly, it still remains above the RBA’s target range of 2-3%.
For a comprehensive look at upcoming economic events and how they may impact the market, be sure to check out our economic calendar.
Stay tuned to Extreme Investor Network for more insights and analysis on the ever-evolving world of finance and investing. Happy trading!