##{"id":99203,"date":"2022-01-21T09:12:28","date_gmt":"2022-01-20T22:12:28","guid":{"rendered":"https:\/\/www.fnarena.com\/index.php\/2022\/01\/21\/the-overnight-report-afternoon-selling\/"},"modified":"2022-01-21T09:12:39","modified_gmt":"2022-01-20T22:12:39","slug":"the-overnight-report-afternoon-selling","status":"publish","type":"post","link":"https:\/\/staging.fnarena.com\/index.php\/2022\/01\/21\/the-overnight-report-afternoon-selling\/","title":{"rendered":"The Overnight Report: Afternoon Selling"},"content":{"rendered":"\n\n\n\n\n\n\n\n\n\n\n\n\n
World Overnight<\/strong><\/span><\/td>\n<\/tr>\n
SPI Overnight<\/strong><\/span><\/td>\n7179.00<\/strong><\/span><\/td>\n– 66.00<\/strong><\/span><\/td>\n– 0.91%<\/strong><\/span><\/td>\n<\/tr>\n
S&P ASX 200<\/strong><\/span><\/td>\n7342.40<\/strong><\/span><\/td>\n+ 9.90<\/strong><\/span><\/td>\n0.14%<\/strong><\/span><\/td>\n<\/tr>\n
S&P500<\/strong><\/span><\/td>\n4482.73<\/strong><\/span><\/td>\n– 50.03<\/strong><\/span><\/td>\n– 1.10%<\/strong><\/span><\/td>\n<\/tr>\n
Nasdaq Comp<\/strong><\/span><\/td>\n14154.02<\/strong><\/span><\/td>\n– 186.23<\/strong><\/span><\/td>\n– 1.30%<\/strong><\/span><\/td>\n<\/tr>\n
DJIA<\/strong><\/span><\/td>\n34715.39<\/strong><\/span><\/td>\n– 313.26<\/strong><\/span><\/td>\n– 0.89%<\/strong><\/span><\/td>\n<\/tr>\n
S&P500 VIX<\/strong><\/span><\/td>\n25.59<\/strong><\/span><\/td>\n+ 1.74<\/strong><\/span><\/td>\n7.30%<\/strong><\/span><\/td>\n<\/tr>\n
US 10-year yield<\/strong><\/span><\/td>\n1.83<\/strong><\/span><\/td>\n+ 0.01<\/strong><\/span><\/td>\n0.33%<\/strong><\/span><\/td>\n<\/tr>\n
USD Index<\/strong><\/span><\/td>\n95.80<\/strong><\/span><\/td>\n+ 0.22<\/strong><\/span><\/td>\n0.23%<\/strong><\/span><\/td>\n<\/tr>\n
FTSE100<\/strong><\/span><\/td>\n7585.01<\/strong><\/span><\/td>\n– 4.65<\/strong><\/span><\/td>\n– 0.06%<\/strong><\/span><\/td>\n<\/tr>\n
DAX30<\/strong><\/span><\/td>\n15912.33<\/strong><\/span><\/td>\n+ 102.61<\/strong><\/span><\/td>\n0.65%<\/strong><\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Greg Peel is scheduled to return after Australia Day.<\/p>\n

For a while it looked like US indices would bounce from oversold conditions, but selling resumed towards the end of the afternoon session and what initially looked like a sunny day ultimately ended with deeper losses.<\/p>\n

Clearly, there are too many threats, too many uncertainties, and too many ifs and buts that are weighing on Mr Market's mind. It probably doesn't help when an industry stalwart like Jeremy Grantham is forecasting the "superbubble" will burst and the S&P500 stands to lose -48% a la 2008-2009.<\/p>\n

Worried market observers point out afternoon selling has become the new standard for US equities this early in 2022.<\/p>\n

Meanwhile, iron ore and industrial metals continue enjoying their moment under the sun.<\/p>\n

SPI futures are indicating another down day for the ASX to close off week number three in January.<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Spot Metals,Minerals & Energy Futures<\/strong><\/span><\/td>\n<\/tr>\n
Gold (oz)<\/strong><\/span><\/td>\n1838.30<\/strong><\/span><\/td>\n– 2.70<\/strong><\/span><\/td>\n– 0.15%<\/strong><\/span><\/td>\n<\/tr>\n
Silver (oz)<\/strong><\/span><\/td>\n24.43<\/strong><\/span><\/td>\n+ 0.28<\/strong><\/span><\/td>\n1.16%<\/strong><\/span><\/td>\n<\/tr>\n
Copper (lb)<\/strong><\/span><\/td>\n4.52<\/strong><\/span><\/td>\n+ 0.08<\/strong><\/span><\/td>\n1.79%<\/strong><\/span><\/td>\n<\/tr>\n
Aluminium (lb)<\/strong><\/span><\/td>\n1.41<\/strong><\/span><\/td>\n+ 0.03<\/strong><\/span><\/td>\n2.18%<\/strong><\/span><\/td>\n<\/tr>\n
Lead (lb)<\/strong><\/span><\/td>\n1.07<\/strong><\/span><\/td>\n+ 0.01<\/strong><\/span><\/td>\n0.53%<\/strong><\/span><\/td>\n<\/tr>\n
Nickel (lb)<\/strong><\/span><\/td>\n10.72<\/strong><\/span><\/td>\n+ 0.53<\/strong><\/span><\/td>\n5.24%<\/strong><\/span><\/td>\n<\/tr>\n
Zinc (lb)<\/strong><\/span><\/td>\n1.66<\/strong><\/span><\/td>\n+ 0.03<\/strong><\/span><\/td>\n1.78%<\/strong><\/span><\/td>\n<\/tr>\n
West Texas Crude <\/strong><\/span><\/td>\n86.90<\/strong><\/span><\/td>\n+ 0.22<\/strong><\/span><\/td>\n0.25%<\/strong><\/span><\/td>\n<\/tr>\n
Brent Crude<\/strong><\/span><\/td>\n87.08<\/strong><\/span><\/td>\n– 1.04<\/strong><\/span><\/td>\n– 1.18%<\/strong><\/span><\/td>\n<\/tr>\n
Iron Ore (t)<\/strong><\/span><\/td>\n133.65<\/strong><\/span><\/td>\n+ 3.45<\/strong><\/span><\/td>\n2.65%<\/strong><\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

The Australian share market over the past thirty days…<\/strong><\/p>\n<\/p>\n

<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
BROKER RECOMMENDATION CHANGES PAST THREE TRADING DAYS<\/span><\/td>\n<\/tr>\n
AKE<\/td>\nAllkem<\/td>\nUpgrade to Add from Hold<\/td>\nMorgans<\/td>\n<\/tr>\n
<\/td>\n<\/td>\nDowngrade to Accumulate from Buy<\/td>\nOrd Minnett<\/td>\n<\/tr>\n
ARB<\/td>\nARB Corp<\/td>\nUpgrade to Neutral from Underperform<\/td>\nMacquarie<\/td>\n<\/tr>\n
BLD<\/td>\nBoral<\/td>\nUpgrade to Equal-weight from Underweight<\/td>\nMorgan Stanley<\/td>\n<\/tr>\n
CAR<\/td>\nCarsales<\/td>\nDowngrade to Lighten from Hold<\/td>\nOrd Minnett<\/td>\n<\/tr>\n
CCX<\/td>\nCity Chic Collective<\/td>\nUpgrade to Buy from Accumulate<\/td>\nOrd Minnett<\/td>\n<\/tr>\n
COE<\/td>\nCooper Energy<\/td>\nDowngrade to Hold from Accumulate<\/td>\nOrd Minnett<\/td>\n<\/tr>\n
CVN<\/td>\nCarnarvon Energy<\/td>\nUpgrade to Buy from Accumulate<\/td>\nOrd Minnett<\/td>\n<\/tr>\n
DXI<\/td>\nDexus Industria REIT<\/td>\nUpgrade to Add from Hold<\/td>\nMorgans<\/td>\n<\/tr>\n
GNC<\/td>\nGrainCorp<\/td>\nDowngrade to Neutral from Buy<\/td>\nUBS<\/td>\n<\/tr>\n
HUB<\/td>\nHub24<\/td>\nUpgrade to Outperform from Neutral<\/td>\nMacquarie<\/td>\n<\/tr>\n
<\/td>\n<\/td>\nUpgrade to Buy from Accumulate<\/td>\nOrd Minnett<\/td>\n<\/tr>\n
HVN<\/td>\nHarvey Norman<\/td>\nUpgrade to Outperform from Neutral<\/td>\nCredit Suisse<\/td>\n<\/tr>\n
IMD<\/td>\nImdex<\/td>\nDowngrade to Neutral from Buy<\/td>\nUBS<\/td>\n<\/tr>\n
MP1<\/td>\nMegaport<\/td>\nUpgrade to Hold from Sell<\/td>\nOrd Minnett<\/td>\n<\/tr>\n
PAN<\/td>\nPanoramic Resources<\/td>\nDowngrade to Hold from Add<\/td>\nMorgans<\/td>\n<\/tr>\n
RBL<\/td>\nRedbubble<\/td>\nDowngrade to Equal-weight from Overweight<\/td>\nMorgan Stanley<\/td>\n<\/tr>\n
REA<\/td>\nREA Group<\/td>\nUpgrade to Buy from Hold<\/td>\nOrd Minnett<\/td>\n<\/tr>\n
SEK<\/td>\nSeek<\/td>\nUpgrade to Accumulate from Hold<\/td>\nOrd Minnett<\/td>\n<\/tr>\n
WES<\/td>\nWesfarmers<\/td>\nUpgrade to Add from Hold<\/td>\nMorgans<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

For more detail go to FNArena's Australian Broker Call Report<\/a>, which is updated each morning, Mon-Fri.<\/p>\n

All overnight and intraday prices, average prices, currency conversions and charts for stock indices, currencies, commodities, bonds, VIX and more available on the FNArena website.  Click here<\/a>. (Subscribers can access prices on the website.)<\/em><\/p>\n

(Readers should note that all commentary, observations, names and calculations are provided for informative and educational purposes only. Investors should always consult with their licensed investment advisor first, before making any decisions. All views expressed are the author's and not by association FNArena's – see disclaimer on the website)<\/strong><\/em><\/p>\n

All paying members at FNArena are being reminded they can set an email alert specifically for The Overnight Report. Go to Portfolio and Alerts on the website and tick the box in front of The Overnight Report. You will receive an email alert every time a new Overnight Report has been published on the website.<\/em><\/p>\n

Find out why FNArena subscribers like the service so much: "Your Feedback (Thank You)<\/a>" – Warning this story contains unashamedly positive feedback on the service provided. www.fnarena.com<\/em><\/p>\n

FNArena is proud about its track record and past achievements: Ten Years On<\/a><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

What started off like a sunny day ultimately ended with deeper losses for US indices<\/p>\n","protected":false},"author":3,"featured_media":99205,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[84],"tags":[],"acf":[],"_links":{"self":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/99203"}],"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=99203"}],"version-history":[{"count":0,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/99203\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/media\/99205"}],"wp:attachment":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/media?parent=99203"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/categories?post=99203"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/tags?post=99203"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}