The ASX 200 is up 18 points (+0.3%) following lower (better) than expected US inflation. Sectors are mixed, Gold is the best as the US dollar drops 1%, and Financials are the worst. Banks are the worst performers; the Big Bank Basket is down 0.6% to $183.94, giving up some of yesterday’s gains. Resources and Materials are up slightly, up 0.4% and 0.3%, respectively. Gold up 2.6%. The All-Tech Index is up 1.0%. Westpac Bank (WBC) down 1.1% after announcing the retirement of its chairman at today’s AGM. Endeavor Group (EDV) down 5.4% after Woolworths (WOW) sold a significant stake in the company in a block trade. Dow Futures are up 27 points, and NASDAQ Futures are up 16 points. FOMC tonight. ECB tonight. BoE tonight.
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.
