The ASX had an incredible week, closing with a gain of 3.4%, or 453 points, up to 5539 points at 5pm yesterday afternoon. At the same time, the Dow Jones was in positive territory, gaining 2.8% to 16,726, and the S&P 500 ended 0.8% higher at 1945.
Why miners are in play again this year New Tips
The ASX’s key takeaways for the week
It was a week of record closes as markets were buoyed by the strong commodity prices and a better than expected earnings report from Woolworths which helped to spark a rally that took the Australian share market to record highs. The S&P/ASX 300 rose 2.9 per cent to 4,766.3 at the close, ending on a five-week winning run, while the broader All Ordinaries index added 2.7 per cent to 5,816.8.
Commodity prices also hit fresh highs this week, supported by rising oil prices which are pushing up the value of the dollar. Gold climbed 3.2 per cent to $US1,541.30 an ounce and copper prices were up 5.6 per cent to $US6,814.50 a tons.
The benchmark 10-year bond yield reached its highest level since August 2014, touching 3.06 per cent on Monday.
-I think mining has done well over the past three months, but I believe we are approaching a price point where there is going to be a sell off.
-This is my opinion. I don’t believe this chart is representative of anything.
- -It’s Friday night, so there isn’t much happening in the markets.
- -I am in no way an expert, but this seems like a reasonable read from the data I have seen this week.
- -I don’t buy a whole lot on Fridays, but this article did get my attention and I decided to give it a
- – Mining companies are a great way to make money when things are looking grim, but you need patience
- – you need to know how to pick winners and losers and you need to understand what your options are before you buy a stock
- – this can be a good strategy to build wealth
- – as an investor, it’s a good strategy to look for a potential rebound from the bottom, even if the price is much higher than where it started
- – there is some risk of missing out on a rally that would see prices rise
- – don’t get carried away by a short-term rally, because it could go bust again
1. I said in the last video that mining stocks are very hot right now and they have been rising for about a month now. I also mentioned that this was because there is a lot of money that is looking to invest into mining stocks.
I also mentioned that when you see big moves in the market, it is usually the market doing that and not people buying or selling stocks.
2. What we’re seeing here is that people who invested in mining stocks saw a huge return. This means that investors are putting their money where their mouth is and investing in these types of companies. And for the investor, this is a great sign. It means the companies have a future with more business. And for the economy