What happened today? ASX 200 up 103.6 points to 4980.4 as yesterday's losses are reversed. Resources and energy stock lead the charge on a weaker USD. Banks bounce on positive Clydesdale reception. China winding down for New Year, up 0.84% as Japan slips 0.88%. US futures up 67. Yesterday never happened as bears punished. A huge bounce today as confidence returned and the ‘risk on’ trade was back. Wall Street obliged with a rally and more important for resources, the fall in the USD was the big driver for underlying commodities and relief was palpable. Course Andrew Robb will credit the TPP signed today. Read more - (VIEW LINK)
Founder of the Marcus Today share market newsletter. Marcus is a stockbroker and has been advising institutional clients and a private client base for over 35 years.