New Resistance
I had queried the futures being down -26 points yesterday morning, given Wall Street selling was all about Big Tech, and sure enough after a brief drop the ASX200 surged through the 7100 mark late morning.
There followed a very long pause for thought, followed by some late selling to ensure the index closed safely just under 7100. Bit scary up there near all-time highs. Maybe a new assault will need to be planned.
All the action was in healthcare (+1.0%), materials (+0.8%) and the banks (+0.6%). Offset was provided by technology (-1.1%), which was simply following the Nasdaq.
It was a busy day in bank land. ANZ Bank ((ANZ)) reported results that would be exceptional, in both earnings and dividend terms, if it were not cycling the original lockdown a year ago and a regulatory suspension/slashing of dividends. The market clearly expected more, hence ANZ shares fell -3.2%.