Sunset Strip > Trading Day Blue Ocean Equities Market Wrap 20170505

Mathan Somasundaram
Mathan Somasundaram Blue Ocean Equities

Local market continued the slide on weak commodities to deliver fourth consecutive negative day. Commodities keep falling and resource sectors continue to lead the market lower. MQG delivered a beat…was trading like it was on an upgrade cycle in recent days…but even that could not push the bank sector higher….WBC Monday will finish the reporting cycle while ANZ goes ex div to start the div cycle. US non-farm payroll out tonight…was a surprise weakness last time….ADP data was steady…time will tell. US Health Care reform hits the process…stage 1 passed…will get changed in stage 2…more horse trading to come…..millions have to fall out to save 1 trillion dollars….not good news for mid-term elections..

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