The ASX 200 is down 21 points (-0.3%), despite the Futures suggesting a 37-point fall this morning. NAB ex-dividend. WBC ex-dividend on Thursday. RBA Minutes out this morning have turned the market lower - they expect to raise rates further. Lithium stocks see profit taking today after a huge recent rally. Defensive sectors are holding up best - Healthcare, Financials, Staples. Healthcare is the best performer, with most stocks trading higher. Financials are pushing higher, the Big Bank Basket is up to $85.62 (+0.6%). Commonwealth Bank Australia (CBA) is up 1.3%, on its first-quarter trading update - all the right noises. Utilities, staples and industrials are all slightly positive. Technology stocks are mostly higher, the All-Tech Index is up 0.2%. Resources are dragging the market down, with a big sell-off in lithium stocks weighing heavily. Iron ore miners are falling behind after a 20% rally in BHP and RIO in 20 days. Dow Futures and NASDAQ Futures are up 57 points and 39 points respectively, after a bit of a wobble last night.
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.
