Jobs data points to rate rise
James Dunn
September 15, 2023
The Australian August job report blew expectations out of the water, with 64,900 jobs created in the month, well above the 23,000 anticipated by economists.
The Australian August job report blew expectations out of the water, with 64,900 jobs created in the month, well above the 23,000 anticipated by economists.
A tech slide dragged the ASX indices lower on Wednesday, ahead of the US inflation data coming in overnight.
Here’s today’s The Match Out report from Market Matters’ James Gerrish. Key point: the S&P/ASX 200 (INDEXASX: XJO) finished down +0.74% to 7153.90.
The benchmark S&P/ASX200 (INDEXASX: XJO) index managed to finish 14.6 points, or 0.2%, higher at 7206.9, with the broader All Ordinaries (INDEXASX: XAO) index tracking that rise in percentage terms, adding 15.1 points to 7402.9.
The BHP Group Ltd (ASX:BHP) share price is close to its low for 2023, so this could be an opportunity. Is the ASX mining share a buy?
Both uranium equities and the uranium price have been marching higher in recent weeks. Numerco’s uranium spot price indicator closed at US$58.25 last Friday, up 19.8% so far in 2023.
Both benchmarks weakened into the close, as both the S&P/ASX200 (INDEXASX: XJO) and All Ordinaries (INDEXASX: XAO) fell 0.2% on Friday.
Both local benchmarks, including the S&P/ASX200 (INDEXASX: XJO) fell 1.2% on Thursday, as pressure continues to build from poor global economic data.
These assets have good pricing power (inflation linked, like other APA assets) and good incremental returns for new mining assets brought online in the area.
The Australian August job report blew expectations out of the water, with 64,900 jobs created in the month, well above the 23,000 anticipated by economists.
A tech slide dragged the ASX indices lower on Wednesday, ahead of the US inflation data coming in overnight.
Here’s today’s The Match Out report from Market Matters’ James Gerrish. Key point: the S&P/ASX 200 (INDEXASX: XJO) finished down +0.74% to 7153.90.
The benchmark S&P/ASX200 (INDEXASX: XJO) index managed to finish 14.6 points, or 0.2%, higher at 7206.9, with the broader All Ordinaries (INDEXASX: XAO) index tracking that rise in percentage terms, adding 15.1 points to 7402.9.
The BHP Group Ltd (ASX:BHP) share price is close to its low for 2023, so this could be an opportunity. Is the ASX mining share a buy?
Both uranium equities and the uranium price have been marching higher in recent weeks. Numerco’s uranium spot price indicator closed at US$58.25 last Friday, up 19.8% so far in 2023.
Both benchmarks weakened into the close, as both the S&P/ASX200 (INDEXASX: XJO) and All Ordinaries (INDEXASX: XAO) fell 0.2% on Friday.
Both local benchmarks, including the S&P/ASX200 (INDEXASX: XJO) fell 1.2% on Thursday, as pressure continues to build from poor global economic data.
These assets have good pricing power (inflation linked, like other APA assets) and good incremental returns for new mining assets brought online in the area.
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