Disney, underarmor, theyve all been held by boom rang ceo founders, but has that helped or hurt those companies . We have a special edition of three buys and a bail. Todays market has been a bull run so far today. Were off the best levels so far, but we have north of 1 gains for the major indexes. The dow currently at 38,652, up north of 1 . Its a similar percentage advance for the broader s p 500, large cap which sits at 5121. The reason why that level is important is because 5129 is the level a lot of traders are watching right now. That level represents the current 50day average price of the s p 500 on a rolling basis, and that has been the upper end of the trading range for the s p 500 going all the way back to just around april 15th. So its been an area of neartomedium term significance. If it can break through that, who knows what happens . A lot of people watching to see if this is a resistance area for the broader s p. The nasdaq up about 1. 75 , 16,136, led in no small part by
Zero Rates Forever!
Anyone in the Australian market who’d been having sleepless nights worrying about inflation slept like a baby last night. Annual core inflation, which informs the RBA’s cash rate policy, fell to a
record low in the March quarter.
What was all the fuss about?
Headline inflation rose by 0.6% quarter on quarter having risen 0.9% in the December quarter. The market had forecast another 0.9%. The annual headline rate rose to 1.1% from 0.9%, when forecasts were for 1.4%. Higher fuel costs were offset by a big fall in electricity prices, which seemed to catch economists out.
Core inflation, which excludes food and energy, rose by 0.3% having risen by 0.4% in December. Forecasts were for 0.5%. The annual rate