ASX 200 down 85 points to 6601 (1.3%). Bond yields jump to 4.23% in 10-year yields as minimum wage worries fuel inflation fears. Banks get smacked down with the Big Bank Basket down to $158.25 (%). CBA down 0.6% and NAB off 1.9% with MQG holding firm up 0.5% as insurers rising slightly. SUN up 3.5% and QBE up 2.2%. Fund managers slipped with GQG off 3.1% and MFG down 2.1%. In healthcare CSL dropped 1.2% and others fell, RHC off 0.9%, COH off 3.9% and FPH under pressure down 3.5%. Industrials saw selling with defensives like TCL falling 0.9% on higher rates, WOW down 1.6% and COL down 1.2%. REITS off as GMG fell 4.4%, DXS down 1.9% and old school platform stocks remain under pressure, REA down 6.4% and SEK off 6.8%. TLS was a green spot in another sea of red, up 2.1%. Tech down hard again, WTC off %3.7%, XRO down 5.2%. All Tech Index down 3.6%. In resources, BHP dropped 0.8% with S32 down 3.6% and FMG bucking the trend up 1.3%. Gold miners eased back, and lithium fell again, PLS down 5.1% and AKE off 1.4%. Oil and gas stocks fell too despite crude rising slightly, WDS down 3.1% and STO down 1.0%. Coal too buckled, WHC off 0.4% and SMR down 7.8%. 

• In corporate news, RMD down 2.9%, agreed to buy a software firm in a $1.45bn deal. Plenty happening on the economic front as consumer sentiment plummets to recessionary readings and Chinese data better than expected. Asian markets were mixed with China up 2.2% and HK up 1.3%.

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The Dow fell for a fifth consecutive session ending up down 152 points (-0.5%) as markets remain skittish ahead of the FOMC interest rate decision tonight. SPI Futures are down 40 points (-0.6%) following yesterday’s fall. Get up to speed on all the latest with Henry’s Breakfast Briefing.

• ASX 200 SPI Futures down 40 points
• Dow drops another 152 points (0.5%)
• Nasdaq up 19 (0.2%)
• S&P 500 down 14 (0.4%)
• Iron ore down 0.9%
• Base metals down down slightly.
• Oil down 1.7%
• Chinese data due later.

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•  ASX 200 fell 246 points to 6686 (3.6%). A surprisingly calm and steady day at least after the collapse at the open. Good rally into the close as US futures rallied. Sideways from the initial dump. All sectors of the market were trashed today with the financials under pressure led by the big four as the Bank Basket fell to $160.11 (3.4%). MQG fell 5.2% as deals are drying up, MFG down just 0.4 % and insurers under pressure with QBE down 4.0%. Healthcare proved no happy hiding place, CSL down 2.7% and RHC falling 3.5%. RMD the best of the bunch up 0.2%. 
• Industrials under pressure, even consumer staples succumbed to the sell off. WOW down 1.5%, COL off 1.4% and EDV unchanged. REITs got smacked down as GMG fell 3.6% and DXS down 4.6%.; Tech stocks sold off led by SQ2 down 15.1% with WTC down 6.0% and Z1P falling 15.9%. In resources, BHP staggered 4.2% wiping 30 points off the index by itself. Iron ore stocks were down hard as China sees CV10 cases rise and some restrictions back. FMG fell 8.5%, RIO down 4.2% and base metal stocks eased, IGO down 4.0%, S32 off 6.5% and lithium stocks depressed, PLS down 4.0% and AKE off 5.3%. Plenty of other casualties in the hot metal space, oil and gas also under pressure, STO down 5.0% and WDS down 5.3%. No hiding in energy despite oil holding above US$120.
•  In corporate news, WGX rose 3.9% on production numbers, MSB down 10.3% on a second-class action. 
• Not much on the economic front, household spending rose 7.6% in April 2022. Asian markets lost ground as expected but escaped better than local markets, China down 1.9%, HK off 0.9% and Japan down 1.8%. 

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The Aussie market is playing catch up this morning and it is set to be a brutal reaction after two consecutive 800+ point falls on the Dow. 

Get up to speed with Henry's Breakfast Briefing.

• ASX 200 SPI Futures down 183 points.
• Dow falls another 876 points (2.8%)
• Nasdaq down 531 points (4.7%)
• S&P 500 down 151 points (3.9%)
• VIX up 22.6%
• Base metals hit. Iron ore down 2%
• Oil up 0.2% Libyan oil supply issues.
• Fed meeting now 75bps firming.

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•  ASX 200 finished near lows down 84 points at 6936 (1.3%). Plenty of nerves pre the CPI tonight as banks tried to rally before being ambushed again. The Big Bank Basket fell to $165.76 (1.2) with CBA off 1.2% and MQG dropping 3.5%. Insurers also easier despite yields rising on bonds. QBE down 2.0% and IAG off 2.6%. Fund managers fell again, GQG down 1.2% and MFG down 4.2%. Industrials continued to slip slide away, WES under more pressure down 2.5%, GMG off 2.8% and TLS falling 1.6%. Small losses across others with CAR and SEK steady. Healthcare mixed as CSL flat, but the rest of the sector weakened, SHL down 1.3%.Tech stocks mixed with XRO rising 4.0% but others falling away, SQ2 down 5.7%, WTC down 1.5% and the All-Tech Index down 0.9%. In resources, it was bad but a rally into the close helped as RIO dropped 1.3% on lower commodity prices, FMG down 0.5% and BHP flat. Lithium and base metal stocks under pressure again, off lows at the close though PLS down 1.8%, MIN down 1.9% and IGO falling 2.4%. S32 a casualty too falling 4.2%. Oil and gas stocks eased as WDS fell 1.6%, STO down 1.5% and SOL off 1.6%, WHC down 1.3%. Gold miners fell led by NCM and NST with EVN down 2.2%. 
• In corporate news, BUB announced a new USA distribution deal rising 9.2%, TER rose 1.9% on a business update, HLS up 2.1% on a new substantial shareholder in John Wylie and BRG reaffirmed guidance rising 1.0%. In economic news, we had business turnover numbers from ABS and CPI from China showing the effects of lockdowns. Asian markets mixed again, Japan off 1.4%, China up 0.4% and HK down 0.3%.10-year yields 3.65% 

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The Dow finished down 638 points (-1.94%) in a late sell-off ahead of tonight’s key CPI print.

SPI Futures are indicating another down day for Australian markets, down 55 points (-0.78%) this morning. 

Get up to speed with Henry’s Breakfast Briefing.

• ASX 200 SPI Futures down 55 points
• Dow falls 638 points (1.9%)
• Nasdaq down 332 points (2.8%)
• S&P 500 down 98 (2.4%)
• Oil falls 0.4%. Gold down 0.2%
• Iron ore slips 1.4% Base metals ease.
• ECB moves to raise rates.
• US banks fall, miners fall overseas. 
• US CPI tonight.

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• ASX 200 fell another 101 points today to 7020 (-1.4%) as once again banks saw widespread selling and resources eased despite good numbers from China. The Big Bank Basket fell to $167.72 (2.6%). CBA down 2.6%, WBC down another 3.7%. MQG held up with a small loss, insurers were under a little pressure, QBE down 0.7% and MFG rose 2.2% on news of Hamish. Industrials were patchy with CSL up 0.3% and RHC up 0.6% with SHL off 1.7%, WES continued its slide down 1.0%, GMG down 1.7% and QAN falling 4.1% as it strains to cope with travel boom. Tech under pressure again with WTC down 3.1%, XRO off 2.6% and the All-Tech Index off 1.3%. BNPL stocks steadied at lower levels, ZIP flat and SQ2 up 0.2%. In resources, BHP fell 2.4%, RIO dropped 1.2% with base metals and lithium under a little pressure, PLS down 5.4% and AKE off 4.2%. Energy stocks mixed, WDS up another 1.9% with STO off 1.1% and coal stocks seeing some sellers as Chinese coal imports weaken on demand. 
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• In corporate news, JLG dropped 5.5% again despite reaffirming guidance, SYR fell 10.1% on a little trouble in Mozambique. In economic news, banks and economists racing to talk down property and the economy and rates rises to come. Meanwhile, in Asia, China slid a little as Shanghai is seeing some isolated lockdowns again, HK down 1.2% and Japan flat.

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The oil price narrative dominated headlines with Goldman forecasting prices of US$140 a barrel with fears of further inflation spooking the market had the Dow finishing down 269 (-0.89%). 

SPI Futures following leads from the US down 54 points (-0.76%). 

Catch up on the latest with Henry’s Breakfast Briefing.

• ASX 200 SPI Futures down 54 points
• Dow down 269 points (0.8%)
• Nasdaq down 89 poimnts (0.7%)
• S&P 500 down 45 (1.1%)
• Base metals slightly higher.
• Oil up 2.5% Iron ore up 0.05%
• Gold up 0.2%
• Chinese data today. ECB tonight. US CPI Friday.

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• ASX 200 rises 25 points to 7121 (+0.4%) as the bifurcation continues. Banks in the doghouse on fears for growth, housing and NIM. The Big Bank Basket fell to $172.25 (-4.3%), now around 9% off its recent highs. WBC down 6.1%, CBA down 4.4% Other financials doing much better, MQG up 1.0%, QBE up 1.4% and SUN up 1.3%. MFG still fell another 4.3%, PTM up 0.9% on FUM numbers. Healthcare was also better led by CSL up 1.2% and RHC rallying 1.6%, Industrials saw some strength too, TCL up 1.4% as ALX attracts the attention of IFM, ALX up 16.2%, Consumer stocks better, COL up 1.2%, WOW up 1.0% but WES struggling down 0.7%. Tech stocks better as Nasdaq rallies, XRO, CPU up 1.6% and WTC rising 2.8%. The All-Tech Index up 1.4%. Resources kicked higher, iron ore stocks leading the charge, BHP up 2.3%, RIO up 2.0% and base metal stocks also doing well, S32 up 1.6% and IGO rallying 2.8%. Lithium flat, gold miners better with NCM up 1.1% and NST rising 2.3%. Energy stocks pushing hard, STO up 3.4%, WDS up 5.6% and coal stocks a little better with YAL up 7.8% on more news on a potential takeover. 
• In corporate news, BLD found a new CEO and rose 14.7%, ALX caught the eye of IFM rising 16.2% and PTM revealed its FUM dropped $209m. Nothing new on the economic front as banks rush to raise mortgage rates and pass-through RBA rate rise. Asian markets mixed Japan up 1.2% China down 0.1% and HK up 1.8%. 10-year yields ease to 3.54%.

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The Dow finished up 264 points (+0.80%) as US stocks climbed for a second consecutive session. SPI Futures are up 45 points (+0.63%) following a hawkish rate hike of 50 bps yesterday at the RBA meeting. 

Catch up on all the latest news with Henry’s Breakfast Briefing.

• ASX 200 SPI Futures up 45 points.
• Dow up 264 (0.8%)
• Nasdaq up 114 (0.9%)
• S&P 500 up 39 points (1.0%)
• Oil up 0.9%. Gold up 0.5%
• Iron ore up 0.4% Base metals ease
• Uranium in focus

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