The benchmark S&P/ASX 200 [ASX:XJO] is inching higher on Tuesday morning, propelled by a rebounding iron ore price which pushed the big miners Fortescue Metals Group [ASX:FMG] and Rio Tinto [ASX:RIO] higher.
Fortescue Metals Group [ASX:FMG] share price was relatively flat on the news, exchanging hands for $14.05 per share at time of writing, up 0.5%.
It’d be very contrarian to take trades on iron ore at this stage, and the coast might not be clear until some support comes in on the iron ore spot price.
At time of writing, the share price of the big three iron ore miners are all up, with BHP Group [ASX:BHP], Rio Tinto [ASX:RIO] and Fortescue Metals Group [ASX:FMG] all tacking on 2–3% today.
Almost like clockwork as the market started to wobble, the US passed more stimulus. The $1.9 trillion bills should prop up the market for the time being. There’s a subtext to this though, and it's all about inflation
Hydrogen prices are becoming more competitive as renewable energy goes cheaper. But hydrogen is attractive because when renewables produce too much energy, hydrogen can store that cheap excess energy....
The week been saw a large pullback in the All Ords [ASX:XAO] by 208 points. Meaning the XAO is now in its 10th week of a sideways move after gaining ground quickly from the March low...
The immediate risk is clear — China. Today, I’m talking about the largest miners in Australia and give you a special tool you could use to play what I call a ‘fractured’ market. This includes BHP Group Ltd [ASX:BHP], Rio Tinto Ltd [ASX:RIO], and Fortescue Metals Group Ltd [ASX:FMG]...
Last week saw some encouraging moves in the sectors, with Information Technology up 5.72% and Materials up 6.11%. On the downside, Health and Utilities fell back 2.42 and 2.34%.
Tech sector down, gold miners up - that's the theme today as the US-China trade war boils over.