MARKET AT MIDDAY
- The ASX 200 is up 46 points (+0.7%) to 7005, testing the 7000 resistance level.
- Most sectors are trading higher.
- Gold is ripping higher on the back of a weaker US dollar, the sector is up 6.7%.
- Other resources are well placed today, most miners are trading higher.
- Coal stocks are struggling again, as Whitehaven Coal (WHC) reported negative weather impacts.
- The banks can’t decide what to do, the Big Bank Basket is down 0.1% to $184.32
- National Australia Bank (NAB) is down -2.4%, reporting NIM down 6 basis points, with revenue up 8.9%.
- Technology is the worst sector, the All-Tech Index is down -1.5%.
- Dow Futures are down 45 points, following a third straight winning session 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.
