The Market Ear is still looking short-term. SPX technicals SPX reversed right on the 21 day moving average. Not overly surprising given the recent squeeze. Support: 5600, resistance: 5850. Maybe we just need to range for a bit… Source: Refinitiv NASDAQ technicals Also reversing right on the 21 day. Support: 19600, resistance: 20800. Source: Refinitiv
As a politician, you have got to know when to hold them and when to fold them. During a cost-of-living crisis, the last thing a politician seeking election should do is oppose tax cuts for three-quarters of the voting population. Yet, that is exactly what the Coalition did in response to Labor’s modest tax cuts
As the April 2 deadline the ultimate round of US tariff’s beckons, the Fanta Fuhrer couldn’t help shoot early with a blanket 25% car tariff, thus dooming the domestic US car industry as the world will shift to boycott US made vehicles. Great work Donny! Trump’s Tariff Tirade beckons. European shares were able to rebound
Earlier this month, Roy Morgan released its shadow labour market report, which reported a significant increase in unemployment to 11.5% in February, with underutilisation (i.e., unemployment plus underemployment) surging to 21.7%. Roy Morgan’s underutilisation rate is the highest on record outside of the pandemic. Roy Morgan CEO Michelle Levine addressed the Mumbrella Retail Marketing Summit
Data released this month by the Australian Bureau of Statistics (ABS) showed that the total value of Australia’s dwelling stock hit a record high of $11,032.2 billion at the end of 2024, with the average dwelling valued at $976,800. The hyperinflation of home values helps to explain why Australian households are ranked among the wealthiest
Asian stock markets are doing slightly better today given the mixed result overnight although S&P futures are looking more robust given more Trump talk about caving in on tariffs, although who knows what will actually happen as another distraction is likely soon given the recent intelligence foul up by half his Cabinet. The USD is
The fish rots from the head, they say, and Michael Stutchbury’s destruction of the AFR is great case in point. Today, he confesses. How about this? Australian supermarket shoppers have been hit by significantly lower grocery price rises than if they were living in the UK, the US, Canada or New Zealand. Yes, lower price
The Market Ear argues for the reverse pivot today. Europe vs US is done 1. Valuation gap closed… SAP on 40x, GOOG on 18.5x, MSFT on 29x. Mag7 valuation now looking ‘cheap’ vs historic 2. Europe benefited from exodus from US tech , US tech as a sell is significantly less obvious here 3. Market
Wednesday’s monthly CPI indicator from the Australian Bureau of Statistics (ABS) printed significantly below expectations. The headline CPI was only 2.4%, below market expectations of 2.5% and below the midpoint of the Reserve Bank of Australia’s (RBA) 2-3% target band. The underlying measure, trimmed mean inflation, also fell to 2.7% and is now well within
Last week, the Albanese government pledged over $800 million in production subsidies to a green hydrogen development in remote Western Australia. This is part of an $8.7 billion federal government war chest to create incentives for green hydrogen. Labor’s Future Made in Australia (FMIA) plan, announced in 2024, provided a budget allocation of $6.7 billion