By Marcus Today
A twice-daily podcast from the team at Marcus Today, the stock market newsletter for self-directed investors, bringing you up to speed with the latest stock market, financial, and business news. Pu
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The podcast currently has 1,627 episodes available.
ASX 200 finished the week up 71 points at a new 8394 record. Up 1.3% for the week. All sectors firing with the banks pushing up yet again. CBA up another 1.8% and NAB up 1.3% with the Big Bank Basket at $265.19 (+1.4%). MQG up 1.0% and financials better, SOL up 1.0% and ASX up 1.4%. REITs firmed, GMG up 0.5% and SGP up 1.2%. Industrials solid as a rock, WES up 1.8% and TLS up 0.3% with CSL bouncing back again, PME doing what it does best up 3.4%. BXB another day in the green up 0.5% with retail finding support. Black Friday sales kicking off, JBH up 1.6% and LOV rebounding from early losses, up 1.4%. ALL fell 1.7% and LNW up 3.6%. Resources were slightly higher, BHP up 0.9% and FMG up 1.1%. Gold miners are better again as bullion rose on increased geo-political risk, NST up 1.9% and EVN up 1.0%. Lithium and rare earths remain in the "Chateau de Chien". PLS down 6.8% and LYC off 1.0%. Oil and gas stocks are in demand, WDS up 2.2% and uranium pushing higher, PDN up 5.9%. In corporate news, another 25 AGMs today, WTC fell 12.4% on a profit downgrade, and MP1 fell 9.5% after reaffirming its earnings outlook. KGN fell 2.7% on its earnings update. No significant economic updates locally. Asian markets mixed again, with Japan up 0.7% with China and HK down over 1%. 10Y yields steady at 4.55%.
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The Dow gained 461.88 points, or 1.06%, to finish at 43,870.35. The S&P 500 added 0.53% to close at 5,948.71. The Nasdaq Composite eked out a 0.03% gain to end at 18,972.42.
Amazon slumped 2.2%, while Alphabet declined nearly 5%, falling for a second session on antitrust fears. Snowflake was one bright spot in the sector, popping nearly 33% after the company.
Bitcoin also hit a fresh milestone, hitting a fresh intraday all-time high.
ASX SPI up 74 Points – AGMs in focus – LOV – A2M - WTC
COMMODITIES
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ASX 200 lost 3 points to 8323 in rudderless trade as AGMs dominated. Plenty of volatility underneath the surface. The banks as always in demand with WBC the star today, the Big Bank Basket rose to $261.54 (+0.2%). Financials were mixed, GQG cratered 19.3% on its exposure to the troubled Adani group as news emerged on charges in the US overnight. Insurers slightly firmer. REITs were mixed with GMG coming under a little pressure as details of the new data centre IPO DigiCo emerged, offering alternatives.
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US equities mixed in fairly quiet Wednesday trading, though ended near best levels.
Dow +0.32%, S&P 500 (0.00%), Nasdaq (0.11%), Russell 2000 +0.03%
ASX SPI up 11 - 30 AGMs today - MIN the most interesting
COMMODITIES
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ASX 200 lost 48 points to 8326 (-0.6%) as nerves set in ahead of Nvidia and lack of follow-through from the move yesterday. Geo-politics weighing slightly as gains evaporated. Banks steady with WBC off 1.1% and the Big Bank Basket unchanged at $260.91. Insurers eased, MQG off 0.5% and NWL falling 3.3% on an update.
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The Nasdaq popped 1.04% to finish at 18,987.47, while the S&P 500 gained 0.4% to end at 5,916.98. The Dow Jones Industrial Average dipped 120.66 points, or 0.28%, to settle at 43,268.94.
ASX SPI down 6. AMC in focus on huge merger deal. NCK warns on delays - Boss Energy, Charter Hall, Downer EDI, Mount Gibson Iron and Pacific Smiles all host AGMs.
COMMODITIES
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ASX 200 soared to new record highs before falling into the close, up 74 points to 8371 (+0.9%) as both the banking sector and the resources pushed ahead. The Big Bank Basket hit a new record up to $260.88 (+1.2%). CBA led the charge with a 1.7% gain and insurers also doing well. QBE up 1.4% and SUN rallying 2.1%. Other financials also in demand, PNI up 1.1% and HMC doing well rising 1.6%. SQ2 stands out again by up 6.3%. REITs too piling on the points, GMG up 1.1% and SCG rising 0.6%, 10Y yields falling to 4.57%. Industrials also in a good place, WES up 0.9% with WOW and COL recovering, QAN up 0.8% and SGH a star, up 3.2%. Retail recovered somewhat, JBH up 0.6% and PMV putting on 1.0% with LOV still under a little pressure. ALL up 1.6% though LNW down 2.5%. Tech rallied hard as WTC put on 2.4%, TNE soared 10.0% on better results, the All Tech Index up 2.7%. Even dull utilities were in demand, ORG up 1.0% and AGL up 0.9%. In resources, early weakness gave the buyers reasons to nibble a little, BHP down 0.1% and RIO down 0.4 % with gold stocks doing well on bullion rises, NST up 4.0% and NEM up 2.0% after a sale of a gold project. Oil and gas better, STO announced a shift in focus and rose 0.3%. Lithium stocks still on the nose with PLS down 5.2% and uranium stocks firm but unspectacular. In corporate news, SYA announced a merger with PLL, CLG had an NBIO from PE, KMD warned of tough times, and MIN company secretary is moving to a compliance and governance role. On the economic front, RBA minutes were released, current settings appropriate. Asian markets mixed again, Japan up 0.7%, HK rose 0.2% and China off 0.5%.
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US equities finished mixed overnight, as the S&P 500 and NASDAQ gained 0.39% and 0.60% respectively recovering some losses ahead of Nvidia’s quarterly earnings on Wednesday. The Dow dipped 55 points in a range bound trading day. Up 61 points at best. Down 147 points at worst. The tech sector found buyers with Apple up 1.3%, Netflix up 2.8% and Tesla rose 5.6% on reports that Trump's team is exploring regulatory easing for self-driving cars. Market sentiment remains cautious following Powell’s comments on holding off rate cuts last week while attention has shifted to Trump's cabinet picks. US treasuries edged lower, 10Y yield off 2.4bps and the 2Y yield lost 1.9bps. USD Index fell 0.44% after hitting a more than one-year high last week, and Bitcoin topped $91k.
Consumer discretionary has rallied around 10% in November, making it the best-performing S&P 500 sector during the period. Tesla is up around 36% since the election!
ASX to inch higher. SPI Futures up 9 points (+0.11%).
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ASX 200 recovered from a cautious start to close up 15 points to 8300 (+0.2%) as iron ore futures kicked back above $100. BHP up 0.7% and RIO rallying 2.2%. Resources generally were solid as uranium stocks glowed hot after moves by Russia to limit exports. PDN rose 5.5% DYL up 7.0% and BOE up 7.3%. Gold too rallied with NST up 2.5% and EVN rallying 2.6% on better commodity prices and Chinese stimulus hopes. MIN a standout up 5.8% with PLS dragging the chain in the lithium space down 2.2%. Oil and gas slightly firmer, WDS up 0.4% and coal doing well, WHC up 3.3% with NHC also 2.3% better. Banks were mixed, news on NAB being sued by ASIC and leaks over a regional levy didn’t help. CBA down 1.4% and NAB off 0.2% with the Big Bank Basket $257.88 (-0.8%). Insurers and financials were better again, MQG up 0.2% and SQ2 rising 1.9%. REITS mostly better, and industrials firmed. WES up 0.4% and ALL up 0.5%. Retailers a little subdued with LOV down 3.8% on a broker downgrade on store openings and CTD rising 2.3% on Conference pick. Healthcare was an interesting space with CSL down again as RFK Jnr appointment to US Department of Health would be sub optimal. Not a great lover of vaccines and looking to rip costs out of the system. Other biotechs feeling some pain as well. In corporate news, 360 fell 6.7% as the founder offloaded a parcel. NHC provided an upbeat guidance, CUV bounced 2.2% on a shift in business focus. RSG fell 5.6% after announcing a sort of settlement with the Mali government. ELD launched a rights issue and an acquisition, coupled with disappointing numbers. Nothing on the economic front, Goldman Sachs lowered its forecast for Australia’s economic growth in 2025, due to “negative spillovers” from the incoming Trump term. Asian markets mixed, Japan down 0.7%, HK up 0.9% and China rallying 1%. 10-year yields 4.60%.
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US equities sank Friday closing out the worst week in more than two months following Powell's announcement on Thursday stating the Fed wasn’t in a rush to cut rates. The Dow traded lower all session, falling 306 points (-0.70%). Down 400 points at worst. The S&P 500 and NASDAQ booked their biggest one-day loss in two weeks, falling 1.32% and 2.24% respectively. Small caps too were sold off, with Russell 2000 down 1.42% notching its fourth consecutive session of losses, while the VIX, better known as Wall Street’s fear gauge, jumped 14.09% hitting its highest levels since election day last week. For the week Dow -1.24%, S&P 500 -2.08%, and NASDAQ -3.15%. In economics, US retail sales rose 0.4% MonM in Oct-24, coming in higher than expectations of 0.3%. Stocks in pharmaceuticals and packaged food companies came under selling pressure with Moderna dropping 7.34% Pfizer down 4.69%, Monster Beverage off 7.08% and Keurig Dr Pepper losing 5.15%% after Trump said he would nominate Robert F Kennedy Jr to head the Department of Health and Human Services. Bitcoin jumped 4.85%, the USD Index continues to climb, Aussie dollar flat, and US treasuries pared earlier gains.
ASX SPI down 26 - ELD Reports - Bank Levy for some - 360 Founder sells down
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The podcast currently has 1,627 episodes available.
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