Fund Status:
Portfolio Val: $1,099,684
Performance: Portfolio -0.75% | Benchmark +0.08%
Cash: $106,576
Bought/Sold None
Overnight Markets
Friday in the global markets ended with a rally after a fairly horrendous week. Most of the major indices were up despite the market pricing in an almost certain rate hike from the Fed, following the CPI print. Oil continues to lead investors in the way of allocation and sentiment. Higher oil = higher costs = higher inflation. Gold is holding up surprisingly well at $4,350/toz. In other news, OpenAI is slowing development of its models.
Australian Market
It was a dismal day for the ASX. While the ASX200 was slightly up +.10%, Materials (-0.55%) and Tech (-1.14%) dragged down the index. Uranium stocks had further losses as well as lithium. Small caps took a dive (-0.61%) as well. Healthcare (+1.52%) was the market leader today with CSL (+2.68%) and Telix Pharma (+4.28%) lifting the tide.
Portfolio Commentary
The portfolio fell -0.75%, underperforming the ASX 300 benchmark (+0.08%) as severe drawdowns growth and tech weighed down the portfolio. The single largest fall came from MP1 (-8.30%), compounded by weakness in GDG (-3.82%). Industrials also took a hit; SHA (-2.11%), MND (-2.65%), and SRG (-2.33%). The contributors, however, were Lovisa (+5.73%), Cuscal (+3.15%), and HMC (+0.92%).
Investment Activity
None
Disclaimer: This is a paper portfolio. Content is for educational purposes only and does not constitute financial advice. Always do your own research.