Pete Wargent blogspot

Co-founder & CEO of AllenWargent property advisory & buyer's agents, offices in Brisbane (Riverside) & Sydney (Martin Place) - clients include hedge funds, resi funds, & private investors.

4 x finance/investment author - 'Get a Financial Grip: a simple plan for financial freedom’ (2012) rated Top 10 finance books by Money Magazine & Dymocks.

"Unfortunately so much commentary is self-serving or sensationalist. Pete Wargent shines through with his clear, sober & dispassionate analysis of the housing market, which is so valuable. Pete drills into the facts & unlocks the details that others gloss over in their rush to get a headline. On housing Pete is a must read, must follow - he is one of the better property analysts in Australia" - Stephen Koukoulas, MD of Market Economics, former Senior Economics Adviser to Prime Minister Gillard.

"Pete Wargent is one of Australia's brightest financial minds - a must-follow for articulate, accurate & in-depth analysis." - David Scutt, Business Insider, leading Australian market analyst.

"I've been investing for over 40 years & read nearly every investment book ever written yet I still learned new concepts in his books. Pete Wargent is one of Australia's finest young financial commentators." - Michael Yardney, Australia's leading property expert, Amazon #1 best-selling author.

"The most knowledgeable person on Aussie real estate markets - Pete's work is great, loads of good data and charts, the most comprehensive analyst I follow in Australia. If you follow Australia, follow Pete Wargent" - Jonathan Tepper, Variant Perception, Global Macroeconomic Research, and author of the New York Times bestsellers 'End Game' and 'Code Red'.

"Pete's daily analysis is unputdownable" - Dr. Chris Caton, Chief Economist, BT Financial.

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Tuesday, 10 September 2013

S&P500 5th day of gains on China exports; Nasdaq to 13 year high

Adding a healthy 0.94% so far. 

The Dow is also up 139 points or 0.93% following strong data from China. The markets seem to sense an opportunity for short-term gains while action on Syria is deferred, while soft payroll data has caused many to suspect that the Fed tapering will be put back or perhaps limited.


"U.S. stocks rose, sending the Standard & Poor’s 500 Index higher for a fifth straight day, as exports from China topped forecasts and corporate acquisitions fueled optimism in the world’s largest economy. The S&P 500 gained 1 percent to 1,670.98 at 2:51 p.m. in New York, poised for the highest closing level since Aug. 14. The Dow Jones Industrial Average added 152.48 points, or 1 percent, to 15,074.98. Trading in S&P 500 stocks was 3.9 percent lower than the 30-day average at this time of day.
“We’re latching on to the better trading in Asia after the Chinese data,” Robert Pavlik, New York-based chief market strategist at Banyan Partners LLC, said by phone. His firm manages about $4.4 billion. “The fact that nothing has transpired in Syria is also a positive in a strange sense. The Street is somewhat relieved that the U.S. hasn’t engaged in military action yet.”
The S&P 500 advanced 1.4 percent last week as data showed signs of economic growth and investors weighed prospects for central bank stimulus cuts amid tensions over Syria. The benchmark for U.S. equities retreated as much as 4.6 percent from the record high on Aug. 2. It has rebounded 2.5 percent from a two-month low on Aug. 27.

China Exports

Chinese exports climbed 7.2 percent in August from a year earlier, the General Administration of Customs said in Beijing yesterday. That compared with the 5.5 percent median estimate of 46 economists surveyed by Bloomberg and July’s 5.1 percent gain. Imports increased a less-than-estimated 7 percent.
The equities gauge has rallied 17 percent this year as the Fed continued to provide stimulus to the economy. A report Sept. 6 showed payrolls in the U.S. climbed less than projected in August and gains in the prior two months were revised downward, fueling speculation that any Fed move to taper its stimulus program will be limited."