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ASX 200 rises amid mixed earnings and trade war uncertainties
The ASX 200 rose 5 points (0.06%) to 8488 amid mixed reporting season results, with Seven West Media up 6.06% and CSL down 3.74%. Gold prices hit a record high of $2942, reflecting trade war uncertainties, while the NAB Business Confidence index improved to +4 in January. The index remains in a bullish trend, with support at 8380-8360.
ASX 200 rebounds on global optimism and strong corporate earnings
The ASX 200 rose 95 points (1.13%) to 8512, driven by optimism from Wall Street and strong corporate earnings, including a 6.15% gain for News Corp after its quarterly report. The financial sector rebounded, while the energy sector struggled, with Beach Energy down 3.63% despite a 20% earnings surge. The index remains in a bullish trend, supported above 8380-8360.
The ASX 200 rose 13 points (0.16%) to 8476, buoyed by record highs on Wall Street and expectations of earlier interest rate cuts from the RBA. Bitcoin's recent surge is expected to drive momentum buying, with targets of 105,000 and 120,000 by 2025, contrasting with the ASX's gradual gains.Technology and consumer discretionary sectors saw significant gains, while energy and mining stocks declined ahead of an OPEC+ meeting. Analysts suggest the ASX 200 needs to break above 8500 for a more decisive upward move, amid ongoing fluctuations since September.
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