U.S. and Europe down overnight. CBA up strongly. ASX up modestly.
Overnight in the U.S.
Dow Jones -0.45%. SP500 -0.42%. Nasdaq -0.79%. Banks -1.21%.
SP500
SP500 has stabilised at a low volume node (see at the left hand side of the chart). That might be as far as this pull-back goes. Last night saw plenty of intra-day buying which suggests the bulls are back in the business. A move above the 20-Day MA would be bullish for the index.
CBA reported before the ASX opened this morning. The punters are looking favourably on the result and CBA is up 2.2%. Other big banks are also up, NAB and WBC both up around +1.5%. ANZ up 0.7%. Falls in Miners, Health and Property have constrained the XJO to a modest rise so far of +0.1%.
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