The ASX 200 is up 12 points (+0.2%) in a low volume day of trading. Resources sector is up. Metals and Mining leading the way up 1.2%, followed by Materials, up 1.2%. Financials and Defensives are tracking down. Gold is the worst performer, down 1%. The All-Tech Index making mild gains, up 0.4%. The Banks are mixed, the Big Bank Basket is unchanged at $182.33, with CBA down 0.4% and NAB up 0.5%. Pinnacle Investment Management (PNI) down 8.5% after announcing their share of performance fees will significantly decrease this period. Downer (DOW) continued to drop as broker downgrades hit the market, down 4.6%. Dow Futures are down 35 points, and NASDAQ Futures are down 20 points.
Anyone who has been in broking will tell you that the Morning Meeting is how all brokers start the day. The format is to have a quick look at the overnight markets, consider what's coming up in the day ahead, hear from the analysts, share ideas and get set up for the day's stock market activity.
