End of day report

Marcus Padley

Marcus Today

ASX 200 closes up 87.8 points at 5351.6 as ‘Super Mario’ opens his wallet. Again. Strong gains across the board. Banks back in focus. China barely changed but Tokyo up 2.3%. US Futures up 36. The market burst out of the gates this morning buoyed by better than expected earnings numbers from the US and more importantly news that ECB President Super Mario will do ‘whatever it takes’ again to stimulate the flagging European economy. Once again we see the markets beholden to central bank stimulus as perhaps we have entered ‘QE Forever’ territory. Despite a little profit taking the gains were locked in and heavy volume was an encouraging sign as cashed up buyers are being dragged into the bull pit. A rising tide lifted all boats today. A high of 5373 mid morning. (VIEW LINK)


Marcus Padley
Director
Marcus Today

Marcus Padley founded Marcus Today in 1998 and leads the team of analysts and market commentators that publishes a daily stock market newsletter, presents four podcasts and runs an $80m Australian equity fund. He is passionate about educating and...

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