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An un-4-tunate week 😢
Description
A late pre-NFPs swoon has seen the ASX200 close 0.4% lower for the day and 4% lower for the week.
With US and local earnings all but over for the period, attention has moved back to the macro, as interest rate risk and growth concerns return.
Commodities took a whack last night as the markets price-in an inflation fighting Fed. The materials sector led the market lower to take its decline for the week to more than 10%. Energy also dipped after another oil price swoon.
On the plus side, financials added a respectable 0.6%. Healthcare also rose 0.5%.
Clinuvel shares rose 2.5% as investors continue to digest its FY22 results. Life 360 also rallied 6%.
On the flip side, Tyro Payments extended its downtrend, dropping 8.5%. Novonix lopped 7.5% off its price. The nuclear theme took a pause and Paladin energy shed 6.25%.
Today's top 3 VODs
The 'uncomfortable truth' about rising interest rates
The two stock picks to round out the week
Carl's power plays: gas, lithium and uranium
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