US stock markets snapped a four-week winning streak as the S&P500 rejected resistance coming from the critical 200-day moving average at 4320 and as central bankers remained hawkish. St Louis president James Bullard, who we believe is still the man to watch, is calling for another 75bp rate hike at next month’s meeting.
The ASX200 shrugged off the weaker lead from Wall Street to lock in a fifth consecutive week of gains, helped higher by a bumper earnings report from BHP, and strength in consumer, materials, and energy stocks.
