John Cheston Insights: ASX and Share Market Reactions
Monday, 9 September 2024, 00:20
John Cheston's Market Update
The ASX 200 fell 0.8% on opening to 7,949 points - not great, but better than futures trading suggested. The losses are widespread with only 25 stocks making a gain, while 165 are down and 10 haven't budged since Friday's close.
- Iron ore price edged up last Friday, supporting Fortescue (+0.6%) and BHP (+0.3%).
- Australia's largest insurer of strata apartments, Steadfast Group, is down 6.3% to $5.95.
- Super Retail falls 7.6% while Viva Energy dips 3.9%. Both stocks traded ex-dividend.
Market Sentiment
Investors are responding to the broader trends observed on Wall Street, where the Dow Jones, Nasdaq, and S&P also reported declines influenced by the latest employment data.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.