Feb 05 2021
During January the ASX200 ended the month virtually where it started with consumer discretionary and banks the standout sectors
-The ASX made gains of 0.3% in January
-Value outperformed growth
-FY21 expected to deliver 9.5%-plus earnings growth
-Policy and vaccine evolution underscore positive growth outlook
By Mark Story
Early to mid-January, stock market trading was dominated by returning optimism towards reflation and cyclically-led rotation opportunities. Following the US Georgia run-off election outcomes, US share markets hit record highs on the prospect of the Democrats winning both Senate seats.
Half way through the month, US President-elect Joe Biden announced a US$1.9trn economic stimulus package. US Federal Reserve chairman Jerome Powell also stated that the accommodative monetary policy stance would remain intact until the job was well and truly done.