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Greetings and welcome to HotCopper’s the ASX Today for Thursday, I’m Jon Davidson and we’re looking at another red day on the bourse as confidence around the US peace deal with Iran remains where it was before the peace deal and following a truly flat night on Wall Street, suggesting Americans feel the same.
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At home, Chalmers’ controversial CGT changes as part of the latest Federal budget have hit Parliament house today, the coalition is staunchly opposed, One Nation not being overly vocal about where it stands but probably somewhere similar, consensus maintains the ALP need the Greens to support the measures. Last week we heard a shift in language around the CGT changes, the word “proposal” began to emerge, so it will be interesting to see what ends up making it through the senate.
But with the ASX as boring as it is right now, one does have to wonder if it’s the right time to introduce changes on taxes when it comes to shares. One to watch, because there’s not much else to watch.
At the time of writing US futures flat, oil prices back up as reports of fresh strikes of Iran hit the press once again, Israel still bombing Lebanon, gold below $4,400 an ounce in the greenback now, the price of gold now down over -3% this week, no surprises then on the ASX materials down a percent, outpaced by losses of over 1.5% for the tech and financials sector – not great news.
Some green shoots around the place when looking at favoured smallcaps but a prevailing sense of fear and caution defining ASX market behaviour on Thursday, making for another week. No wonder people are getting restless and taking a look at the US markets on the forums lately.
That’s ASX Today for Thursday, I’m Jon Davidson, have a great night and we’ll see you tomorrow.
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