{"id":61772,"date":"2013-05-04T09:40:13","date_gmt":"2013-05-03T23:40:13","guid":{"rendered":"http:\/\/www.fnarena.com\/index.php\/2013\/05\/04\/australian-stocks-what-happened-today-89\/"},"modified":"2013-05-04T09:40:13","modified_gmt":"2013-05-03T23:40:13","slug":"australian-stocks-what-happened-today-89","status":"publish","type":"post","link":"https:\/\/staging.fnarena.com\/index.php\/2013\/05\/04\/australian-stocks-what-happened-today-89\/","title":{"rendered":"Australian Stocks: What Happened Today?"},"content":{"rendered":"

\n\tBy Ashley Jessen<\/span>, director of LearnCFDs.com and author of CFDs<\/span> Made Simple<\/a><\/p>\n

\n\tDespite an extremely healthy lead from the US bourses overnight and an incredible day for our banking sector, our S&P\/ASX 200 was unable to inspire any upside remaining flat for the day, down 0.5 points to finish the session at 5129.5 on slightly higher than average volume.<\/p>\n

\n\tForex traders and economists globally will be glued to the screens tonight with the non-farm payroll data being released with the expectation of 140,000 jobs being added, which is much greater than the 88,000 result last month.<\/p>\n

\n\tDespite a relatively flat session the Health Care sector was the one shining light, up an above average 1.32%. Technology stocks followed closely behind, up 0.96%. At the other end of the spectrum, Consumer Goods were unsettled, giving back 0.61% to the market with Utilities falling into the red and unable to climb up, down 0.34%.<\/p>\n

\tLooking over the charts<\/strong><\/p>\n

\n\t\"\"<\/strong><\/p>\n

\n\tUncertainly continues to creep in at the top of the recent range but it must be said that the bears are far from winning with the bulls firmly in control of the price action. Normally at overbought areas like this, if the uncertainty is too much, then profit taking ensures, pushing the share price much lower but we cannot see any evidence of this at the moment. With market action maintaining itself above the 5100 mark we must continue to favour the support of the bulls.<\/p>\n

\n\tS&P\/ASX 200 Gainers and Losers<\/strong><\/p>\n

\n\tMacquarie Group ((MQG)) hit the news for all the right reason today, rising 11.21% as their full year net profit was up 17 percent with an expectation of higher profits going forward with the stock price leaping into new fresh highs. JB Hi Fi ((JBH)) share holders had a lot to get excited about today with the share price up 8.26% and hitting new fresh highs following a rise in profit guidance and the hope that the retail sector is seeing green.<\/p>\n

\n\tKingsgate Consolidated ((KCN)) shares nose dived further into the red today, falling 7.11% whilst hitting new fresh lows or steadily rising volumes. Medusa Mining ((MML)) has been spoken about a lot recently and its been mostly negative with the stock down a further 5.4% with a definite break below support at $2.70.<\/p>\n

\n\t(For a more comprehensive summary of last night’s market action see FNArena’s<\/span><\/a> Overnight Report.)<\/p>\n

\n\tDisclaimer<\/em>: <\/strong>There is a high degree of risk involved in trading various financial instruments. It is possible to lose significant amounts of money when trading the markets. As your trading decisions are beyond my control, I accept no responsibility for your trading results. Please seek professional financial advice to determine if trading is for you.<\/em><\/p>\n

\n\tWhile Ashley Jessen<\/span> attempts to ensure that the information herein is accurate at the date the information was produced, however, Ashley Jessen<\/span> does not guarantee the accuracy, timeliness, completeness, performance or fitness for a particular purpose of any of the information provided herein and under no circumstances are they to be considered an offer, solicitation to invest or be construed as giving investment advice.<\/em><\/p>\n

\n\tTechnical limitations<\/strong><\/em><\/p>\n

\n\tIf you are reading this story through a third party distribution channel and you cannot see charts included<\/span>, we apologise<\/span>, but technical limitations are to blame.<\/strong><\/p>\n

\n\tFind out why FNArena<\/span> subscribers like the service so much: "Your Feedback (Thank You)<\/a>" – Warning this story contains unashamedly positive feedback on the service provided.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

A wrap of the day’s activity on the Australian stock market.<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[6],"tags":[],"acf":[],"_links":{"self":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/61772"}],"collection":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/comments?post=61772"}],"version-history":[{"count":0,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/61772\/revisions"}],"wp:attachment":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/media?parent=61772"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/categories?post=61772"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/tags?post=61772"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}