US Markets Close At Record Highs... Will the XJO Move Higher? | BHP's Demerger - Thoughts? | Sell in May? |

Niv Dagan

Peak Asset Management

Good Morning, So yesterday was one of those days that you leave the office, saying “hey, why did we fall ~ 76 points?” Aren't US stocks at all-time highs? Isn't confidence returning to Australia’s Business sector, following a fairly “positive” budget for Corporate Australia? Hey… aren't interest rates at 2.00%, the lowest on record? We've certainly had a few moments like these over the past few weeks as the XJO is down ~ 8% from its “6,000-PEAK”, while US stocks are at all-time highs… again… So the BHP and South32 demerger hasn’t’ started that well, however, integration of mergers takes time and the market will need to assess the impacts on cash flows, costs, capital expenditure spending etc… However, the large sell-off yesterday in BHP, was largely, unfounded… Commodities were mostly mixed last night with Crude Oil down 0.23%, Gold flat at $1,225/oz. and the AUD/USD is below $0.80 as the USD strengthened. The SPI is up 10 points this morning

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Niv Dagan
Niv Dagan
Executive Director
Peak Asset Management

Prior to founding PEAK Asset Management, Niv headed up HC Securities, spent three years growing Halifax Investments capital markets division and also worked on the wholesale desk at Macquarie Bank, servicing a wide range of institutional,...


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