Market focus turns to Capital expenditure data and Woolworths AGM
With a steady lead from US markets heading into Thanksgiving, the early mood on the local stock exchange is likely depend on whether or not the selling of banks and other yield stocks continues as it has over the past couple of trading sessions.
While commodity prices were relatively steady overnight, investors were given no particular reason to feel more positive about the outlook. Against that background the fact that BHP’S ADR finished lower in New York may test nerves today as the stock looks set to break recent support.
Recent volatility in Woolworths’ share price will increase market sensitivity to today’ AGM. Investors are on the alert for the possibility that new Chairman, Gordon Cairns will use his first AGM as an opportunity to begin the process of restoring investor confidence in the company’s strategy.
The Aussie Dollar has been well supported over the past week and today’s private capital expenditure may provide some insight into whether this buyer faith has been justified. Markets will be looking for recent signs of improvement in confidence and business conditions to be translated into an upward revision for investment intentions outside the mining sector.
Frequently Asked Questions about this Article…
The US markets can set a steady lead for the local stock exchange, especially during Thanksgiving. However, the local mood will also depend on whether the selling of banks and other yield stocks continues as it has in recent trading sessions.
Commodity prices were relatively steady overnight, which means investors didn't receive any particular reason to feel more positive about the outlook. This stability can influence investor sentiment by maintaining current market expectations.
BHP's ADR finishing lower in New York may test local investor nerves, as it suggests the stock might break recent support levels. This performance is significant because it can influence investor confidence and market stability.
Investors should be alert for any strategic announcements from the new Chairman, Gordon Cairns, at Woolworths' AGM. This meeting could be an opportunity for Cairns to begin restoring investor confidence in the company's strategy, especially given recent volatility in Woolworths' share price.
The Aussie Dollar has been well supported over the past week. This performance suggests that there is buyer faith in the currency, which may be further justified by today's private capital expenditure data.
Private capital expenditure data is significant because it can provide insights into business confidence and investment intentions outside the mining sector. Investors will be looking for signs of improvement in these areas to justify recent support for the Aussie Dollar.
Market sensitivity is heightened around Woolworths' share price due to recent volatility. Investors are particularly attentive to any strategic changes or announcements that could impact the company's future performance and investor confidence.
Investors are hoping to see recent signs of improvement in business conditions and confidence translate into an upward revision for investment intentions outside the mining sector. This would indicate a broader economic recovery and potential growth opportunities.
Call 1300 880 160
Start a chat
Schedule a call
