Performance of the Aussie market

Just wondering what you think needs to happen to kick the ASX along. You listen in the morning the DOW has had a big night, the futures say up nothing happens. The DOW has a poor night and the ASX follows. Seems lately it only takes its lead when there has been a fall.

As Peter says plenty of good news but nothing seems to excite unless its negative.

A: Thanks for the note.

I would put the poor performance of the Aussie market down to:

  1. a) high Aussie dollar;
  2. b) market composition (no real IT/consumer discretionary stocks);
  3. c) bearish local fund managers; and
  4. d) lack of earnings growth in the major cap stocks (Banks, Telstra, Woolworths/Wesfarmers etc).

 


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