Market Report with Paul Wareing - March 02, 2017

Written on the 28 February 2017

Market Report with Paul Wareing - March 02, 2017 There was a small pull back for the ASX200 Index last week as a few big index contributors went ex-dividend and business investment and construction data was a tad disappointing.  Earnings reports were a bit of a mixed bag and in commodities iron ore motored north but oil was a little subdued despite the production cuts. This could well be down to ample US inventories and an increase in US production.

Heading overseas, the Dow Jones ground out a modest increase and the US Dollar was fairly flat. There seems to be some niggling doubts coming into the market about the size and timing of the President's fiscal stimulus package. All will hopefully be revealed when he addresses a joint sitting of the US Congress on Wednesday morning our time.

This speech will undoubtedly be the focus of the week as markets try and gauge exactly what the President is proposing.  A well accepted positive stimulus may well lead to some buying, but there is also the possibility that investors have pretty much factored that in ( hence the recent run of record highs) so if, for example, the timeline for the investment pushes out to later in the year or even 2018 we may see a slight correction. Certainly, any disappointment will see a pull back.

Locally, despite positive noises from the RBA, a good NAB business survey and steady unemployment data business and consumer spending remains soft.  It would appear those at the coal face don't share the optimism of the commentators. So a mixed week ahead, and once more we look to the Donald!!

Paul Wareing
Investment Adviser
Barclay Wells Ltd
41 Carnarvon St Broome
0411 809 104


In accordance with Section 949A of the Corporations Act 2001 Barclay Wells Limited advise that information in this article contain general financial advice only. Wells Limited did not take into account the investment objectives, financial situation and particular needs ('financial circumstances') of any particular person. Accordingly, before acting on any advice contained in this site, you should assess whether the advice is appropriate in light of your own financial circumstances or contact your Barclay Wells Limited adviser. Barclay Wells Limited, its Directors employees and advisers may earn brokerage or commission from any transactions undertaken on your behalf as a result of acting upon this information. Barclay Wells Limited, its directors and employees advise that they may hold securities, may have an interest in and/or earn brokerage and other benefits or advantages, either directly or indirectly, from client transactions. Barclay Wells Limited believe that the advice herein is accurate however no warranty of accuracy or reliability is given in relation to any advice or information contained in this publication and no responsibility for any loss or damage whatsoever arising in any way for any representation, act or omission, whether express or implied (including responsibility to any persons by reason of negligence), is accepted by Barclay Wells Limited or any officer, agent or employee of Barclay Wells Limited.

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