The ASX 200 is down 55 points (-0.8%) following the interest rate decision from the RBA yesterday. GDP numbers out today at 0.6% for the September quarter - slightly below forecast. Most sectors down. Interest rate sensitive sectors getting slammed hardest, Info Tech down 2.3% and the All Tech Index down 2.5%. Resources leading the way. Metals, Mining and Materials up 0.4%. Defensive sectors down. Industrials and Healthcare fell 0.6% and 0.8% respectively. The Banks are down, the Big Bank Basket is down 1.5% to $182.74. Bellevue Gold (BGL) down 12.4% after announcing the completion of institutional placement. Strike Energy (STX) up 3.7% after securing an ~19.9% shareholding in Warrego Energy (WGO). Dow Futures are up 37 points, and NASDAQ Futures are up 16 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.
