Next Investors logo grey

Lack of direction from overseas with Europe closed and US mixed

Published 02-MAY-2017 12:54 P.M.


1 minute read

Hey! Looks like you have stumbled on the section of our website where we have archived articles from our old business model.

In 2019 the original founding team returned to run Next Investors, we changed our business model to only write about stocks we carefully research and are invested in for the long term.

The below articles were written under our previous business model. We have kept these articles online here for your reference.

Our new mission is to build a high performing ASX micro cap investment portfolio and share our research, analysis and investment strategy with our readers.

Click Here to View Latest Articles

Australian markets are likely to run their own race on Tuesday with a lack of leads from overseas as major European markets were closed, including the London Metals Exchange, and there was a lack of direction from the US.

While the Dow declined 0.1% to close at 20,913 points, it was a day of ups and downs where at one stage the index hit a high of 20,976 points.

By comparison, the NASDAQ was unerring in marching to another record high of 6100 points before closing at 6091 points, representing an increase of 0.7%.

Strong performances from Apple Inc., Netflix Inc. and Inc. drove the index higher.

On the commodities front, both oil and gold took a tumble, falling 1.2% and 0.8% respectively.

This sees oil back below the US$49 per barrel mark.

The fall in the gold price was also significant in that the close of US$1257 per ounce represented a three-week low, bringing it back to a point that appeared to be a level of support prior to surging on the back of safe haven buying in mid-April.

Consequently, technical analysts could see a break below US$1250 per ounce as the forerunner to revisiting the US$1200 per ounce mark.

The Australian dollar is fetching just over US$0.75, having rallied strongly from US$0.745 last week. However analysts still aren’t ruling out the possibility of it finding a level in the vicinity of US$0.72 in the not too distant future.

General Information Only

S3 Consortium Pty Ltd (S3, ‘we’, ‘us’, ‘our’) (CAR No. 433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information and is for informational purposes only. Any advice is general advice only. Any advice contained in this article does not constitute personal advice and S3 has not taken into consideration your personal objectives, financial situation or needs. Please seek your own independent professional advice before making any financial investment decision. Those persons acting upon information contained in this article do so entirely at their own risk.

Conflicts of Interest Notice

S3 and its associated entities may hold investments in companies featured in its articles, including through being paid in the securities of the companies we provide commentary on. We disclose the securities held in relation to a particular company that we provide commentary on. Refer to our Disclosure Policy for information on our self-imposed trading blackouts, hold conditions and de-risking (sell conditions) which seek to mitigate against any potential conflicts of interest.

Publication Notice and Disclaimer

The information contained in this article is current as at the publication date. At the time of publishing, the information contained in this article is based on sources which are available in the public domain that we consider to be reliable, and our own analysis of those sources. The views of the author may not reflect the views of the AFSL holder. Any decision by you to purchase securities in the companies featured in this article should be done so after you have sought your own independent professional advice regarding this information and made your own inquiries as to the validity of any information in this article.

Any forward-looking statements contained in this article are not guarantees or predictions of future performance, and involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, and which may cause actual results or performance of companies featured to differ materially from those expressed in the statements contained in this article. S3 cannot and does not give any assurance that the results or performance expressed or implied by any forward-looking statements contained in this article will actually occur and readers are cautioned not to put undue reliance on forward-looking statements.

This article may include references to our past investing performance. Past performance is not a reliable indicator of our future investing performance.