Welcome to Extreme Investor Network, where we provide you with the latest updates and insights on the stock market, trading, and all things Wall Street. Today, we are taking a closer look at the ASX 200, which was up 0.77% on Thursday morning, following overnight gains from the US session.
Australian economic indicators may have sent mixed signals, but that didn’t seem to dampen buyer demand for ASX-listed stocks. Home loans saw a significant jump of 4.3% in April, while the trade surplus widened to A$6.548 billion. However, import and export figures painted a grim demand picture, with imports tumbling by 7.2% and exports declining by 2.5%.
Despite the mixed economic signals, banking, gold, oil, and tech stocks contributed to the gains for the ASX 200. The S&P/ASX All Technology Index was up 0.51%, with gold-related stocks like Northern Star Resources Ltd. (NST) and Evolution Mining Ltd (EVN) rallying.
Woodside Energy Group Ltd (WDS) and Santos Ltd (STO) also saw gains, along with leading banks like Commonwealth Bank of Australia (CBA) and ANZ Group Holdings Ltd. (ANZ). However, mining stocks had a mixed day, with Fortescue Metals Group Ltd. (FMG) rising, BHP Group Ltd (BHP) remaining flat, and Rio Tinto Group Ltd. (RIO) declining.
As always, it’s important to keep an eye on upcoming economic events. Be sure to check out our economic calendar for all the latest updates.
Stay tuned to Extreme Investor Network for more exclusive insights and analysis on the stock market. Happy investing!