Morningstar has a $5 TP for DOW and thinks that broadly the result came in line with estimates. The jobs report with heavy hiring in Sydney and Melbourne does not support your "economic conditions continue to deteriorate". It is just Australian pessimism talking due to isolation from the global economy which is getting stronger and will carry Australia with it.
much less than expectation, page-10
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$5.78 |
Change
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| Open | High | Low | Value | Volume |
| $5.78 | $5.88 | $5.77 | $3.584M | 617.4K |
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| No. | Vol. | Price($) |
|---|---|---|
| 3 | 8576 | $5.78 |
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| Price($) | Vol. | No. |
|---|---|---|
| $5.80 | 9210 | 3 |
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