Quay Mid-Day Market Update

The Australian Share Market looking at three consecutive days of negative trade, with the market again deep in the red on the back of a negative lead from Wall Street, while the pull back in Iron Ore also combined to send stocks lower. Overnight, the Fed continuing on its data dependent stance while first quarter GDP disappointed the market. Market Turnover into lunch was quite strong at $2.125 billion. The market missing a catalyst this week on a very light week of economic data locally. Naturally the RBA interest rate next week in focus as well as the Banks beginning reporting season next week with mixed expectations from the big brokers in regards to earnings and potential dividend growth. Even around the region still quiet on the economic front. Japanese industrial production falling 0.3% in March, coming in well above the 2.3% fall that was expected. Around the market the main lag on the markets was definitely the banks... for the entire wrap please visit (VIEW LINK)

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