Market Updates

ASX 200 rose 26 points to 7494 (+0.3%) for the fourth week of gains. Resources and banks better. BHP leading the way up 0.6% with FMG in stasis after record production numbers. Lithium stocks saw some sector rotation as PLS saw some take money off the table falling 4.1% and IGO down 0.5%. Others rose like VUL and LTR. Gold miners fell NCM down 2.3% and DEG off 1.3% with SBM having a better day than Wednesday, up 5.0%. Coal stocks were hit hard with WHC down 6.6% and NHC off 9.0%. Oil and gas mixed despite better crude prices. WDS off 2.4% and STO flat.  Banks did well again with the Big Bank Basket up to $190.55 (+1.0%). CBA leading the charge hitting highs up 0.9%. ANZ also in demand up 1.5% with insurers doing ok, QBE up 1.0% and SUN better by 0.8%. REITs firmed despite 10-year yields up to 3.56% GMG up 2.6% and MGR up 1.3%. Tech doing ok. WTC up 2.6% and XRO finding some support up 1.6%. The Index up 0.8%. Industrials firm. WOW up 1.2% and WES up 0.6%. Healthcare eased CSL down % and RMD rallying 2.3% on better-than-expected results. In corporate news, a few quarterlies, FMG and RMD some of the bigger ones, TYR up 4.0% on Potentia given DD, VEA got approval to buy Coles Express. SHV bounced 4.6% on a dismal harvest and ORG up 0.7% on a lift to earnings guidance. In economics, PPI out and import-export prices. Asian markets still affected by closures, Japan flat. 10-year yields at 3.58%. Dow Jones futures down 16 points. NASDAQ futures down 71 points. 

Why not sign up for a free trial? Get access to expert insights and research and become a better investor.

• The Nasdaq Composite jumped 1.76% to settle at 11,512.41. The Dow Jones Industrial Average rose 205.57 points, or 0.61%, to end at 33,949.41, while the S&P 500 gained 1.1% to close at 4,060.43.
• GDP data released at 2.9% for the quarter annualised. Higher than forecasts. 
• Tesla the focal pint on results up 11%
• Intel after hours disappointed down around 6%.
• AUD jumps to highest since June.

Catch up on the latest news with Henry Jennings’ Pre-Market Podcast.

Why not sign up for a free trial? Get access to expert insights and research and become a better investor.

ASX 200 slips 22 points to 7468 (-0.3%) on higher-than-expected CPI. Turnaround from solid open as CPI came in above expectation at 7.8% highest since 1990. Resources slid a little with BHP off 1.0% and RIO down 0.7% with quarterlies dominating and gold miners sliding lower. SBM collapsed on quarterly down 21.4%, lithium slightly better in places, IGO up 0.3% and MIN falling 2.2% on delays at Mt Marion. Energy stocks slipped, WDS off 1.2% despite record production numbers, STO down 1.6% and WHC off 1,4%. Banks better on higher yields, CBA up 0.7% and NAB better by 0.5%. The Big Bank Basket up to $188.58. MQG better and insurance stocks gaining on yields. QBE up 1.0%. REITs slipped with GMG down 0.7% and SCG off 1.0%. Tech down, WTC unchanged on an acquisition. XRO under pressure down 2.8% and the All-Tech Index down 1.3%. Healthcare down too, CSL off 0.6% and RHC off 1.0%. In corporate news, NWS and Fox will not be merging, ALX down 0.2% on pre-CV19 trends, US lithium company Albemarle lifts lithium demand by nearly 15%. In economic news, CPI up 7.8% in highest jump since 1990. Analysts go back to the drawing board with 40bps suggested by some in Feb. Asian markets still celebrating Lunar New Year although Japan up 0.5%. 10-year yields up to 3.50%. Dow futures down 89 points. NASDAQ futures down 92 points.


Why not sign up for a free trial? Get access to expert insights and research and become a better investor.

The Dow gained 140.40 points, or 0.31%, to close at 33,733.96. The S&P 500 dipped 0.07% to settle at 4,016.95, while the Nasdaq Composite dropped 0.27% to end at 11,334.27.
 72 of the companies in the S&P 500 have now reported with 65% of those beating consensus.
Treasuries were firmer with the curve flattening, ending near best levels after today's strong 2Y auction. 

• Microsoft beats estimates and up 3.8% after hours.
• Murdoch has called off Fox-Newscorp Merger.
• Local CPI tipped around 7.5% Core 6.5%.

Get up to speed with Henry Jennings’ Pre-Market Podcast.

Why not sign up for a free trial? Get access to expert insights and research and become a better investor.

The Nasdaq Composite surged 2.01% to finish at 11,364.41, while the Dow Jones Industrial Average rose 254.07 points, or 0.76%, to end at 33,629.56. The S&P 500 added 1.19% to settle at 4,019.81.

Tesla and Apple gained on hopes that a reopening in China would boost their businesses. Both big tech names recently grappled with temporary shutdowns and blows to production as the country dealt with surging Covid-19 cases.

Semiconductor stocks rose Monday, with the  Semi Conductor ETF surging 4.7% for its best day since November.

Tune in to Henry Jennings’ Pre-Market Podcast to get in the know for the day ahead. 

Why not sign up for a free trial? Get access to expert insights and research and become a better investor.

ASX 200 closed up 5 points to 7457 (0.1%) in thin trade as resources slipped slightly on Lunar New Year with BHP down 1.1% and FMG off 1.0%.  Lithium and base metals picked up led by PLS up 6.2% with IGO up 3.1% and LTR bouncing from Friday’s sell off, up 6.9%. Base metals and other commodity stocks did well, NIC up 3.2% and SYR up 1.3%. Gold miners too in demand, NCM up 0.5%, DEG up 0.3% and SBM doing well up 5.3%. Oil and gas stocks better, KAR up 7.4% on a reserve upgrade, WDS up 1.7% and STO still stuck in a hollow. Banks unchanged as Macquarie downgraded the outlook for the big four, Big Bank Basket $188.93, MQG up 0.7% and QBE doing well up 0.4%. Tech stocks in demand as SQ2 rallied 6.1% dragging ZIP with it by 22.8% and SZL numbers helping too rising 38.9%. XRO up 1.4% and CPU rallying 1.2% too. The All-Tech Index up 1.3%. Industrials firm but unexciting. Healthcare mixed, REITS better with GMG down 0.8% letting the side down. In corporate news, plenty of quarterlies again, AFI and WLE upped dividends, SMR achieved guidance but still tumbled lower, SZL reported it’s second month of profitability. On the economic front, supermarket inflation jumps 9.2% with dairy and meat leading the gains. Asian market mostly closed for Year of the Rabbit celebrations. Japan no bunny up 1.3%.

Why not sign up for a free trial? Get access to expert insights and research and become a better investor.

The Dow Jones Industrial Average added 330.93 points, or 1%, to close at 33,375.49, while the S&P 500 advanced 1.89% to 3,972.61. Both indexes snapped a three-day losing streak. Meanwhile, the Nasdaq Composite rose 2.66%, with help from Netflix and Alphabet, to end the day at 11,140.43 

• Wall Street climbs on Alphabets, Netflix lift.
• Netflix subscriber growth easily tops expectations.
• Stocks gain, dollar jumps.
• Google parent to lay off 12,000 workers as AI focus intensifies.
• China kicks off Lunar New Year holiday.
• For Chinese Lunar New Year tourists, retailers roll out rabbit dances, red lanterns.
• China plays down COVID outbreak with holiday rush at full tilt
• Iron ore futures buoyed by China demand sentiment despite early week slump.
• Oil up more than 1% on track the second week of gains on China demand outlook.
• Gold eases as dollar ticks up, but set for fifth weekly rise.
• Global refined copper market swings to deficit in November.
• Fortescue sees renewables overtaking iron ore business.
• Nickel stocks at 14 year low but Indonesian supply of NPI to fill the gap.
• Macquarie predicts nickel surpluses in 2023 and 2024 after price up 45% last year. Plentiful nickel supplies for electric vehicle industry.

Catch up on all the latest with Henry Jennings on today’s Pre-Market Podcast.

Why not sign up for a free trial? Get access to expert insights and research and become a better investor.

ASX 200 finished the week well up 17 points to 7452 (+0.2%) at a nine-month high, with big resources driving things higher. BHP heading up on broker positivity up 0.5% with RIO up 1.0%, gold miners doing well too, NCM up 2.4% and NST rallying another 3.2%. PLS was the standout after its huge cash pile just keeps on growing, up 13.2% and MIN up 1.8%. In lithium we trust, except for LTR which cratered 8.3% on a Kathleen Valley update with some cost blowouts (more funding required?). Base metals were firm, S32 up 0.2% and LYC up 2.2%. Oil and gas stocks continuing higher, WDS up 0.7% and STO seeing friends after quarterly, up 1.5%. Coal stocks soaring as WHC delivered rising 6.2%. Banks stuck with the Big Bank Basket unchanged at around $189.01. Other financials eased back, money managers down MQG off 0.7% and ASX off 0.8%. Insurers slightly better. Industrials mixed, healthcare saw some profit-taking as COH dropped 1.2% and RHC down 1.0%. Tech eased, XRO down 1.1% and Staples down. WOW off 0.5% and ALL off 1.1%. In corporate news, KAR up 3.4% on Brazilian permits, CCX down 7.7% on sales drop and SUL in trouble over pay. In economic news, Japanese inflation at its highest level in 40 years. Asian markets gearing up for the Rabbit, Japan up 0.5%, China up 0.5% and HK up 1%. 10-year yields steady at 3.40%. Dow futures up 39 points and Nasdaq up 43 points.

Why not sign up for a free trial? Get access to expert insights and research and become a better investor.

US markets are down overnight for the third straight day as concerns for global recession mount with more US Fed officials taking a hawkish stance after new economic data pointed to a tight labour market. European markets fell from ECB Christine Lagarde’s comments at Davos and the Yen appreciates against the greenback following BoJ’s policy decision the previous day.

The Dow Jones closed down 252 points (-0.76%). At best it was down 69, and at worst it was down 315. The S&P 500 fell 0.77%, and the NASDAQ was down -0.96%. In Europe, STOXX 50 -1.9% FTSE -1.1% CAC -1.9% DAX -1.7%. SPI Futures are down one point (-0.01%).

Commodity prices dropped overnight, with Copper down 0.5% due to declining short-term demand. China's Lunar New Year celebrations and slowing economies in the West are pushing metal prices lower. Lead down 2%, Tin down 1.2%. Aluminium dropped 1.7% as smelters possibly begin reopening after temporarily shutting down due to high energy costs, increasing supply. Zinc is up 0.7%, Nickel is up 5.8%, Gold is up 1.1% with no clear reason. Brent Oil and WTI are up 1.77% and 0.98% due to demand speculation.

Catch up on all the latest with Henry Jennings on today’s Pre-Market Podcast.

Why not sign up for a free trial? Get access to expert insights and research and become a better investor.

 ASX 200 shook off early apathy post the jobs number and BHP quarterly and saw the ASX 200 up 42 points to 7435 (+0.6%). SPI and ETO expiry helping volumes. Resources led the charge higher with BHP up 1.2%, RIO sprinting ahead 3.3% and FMG doing well up 1.7% ahead of Chinese New Year and better ore prices. Lithium stocks remain under some pressure, PLS up only 0.3% and IGO up 0.9% with some base metal stocks falling, NIC returned from a trading halt falling 6.7% towards placement price. Gold miners were steady but unspectacular. NCM up 0.9% and NST rising 1.0%. Oil and gas stocks eased, WDS down 0.6% and STO down 1.6%. Coal stocks better. Industrials firm with TLS up 1.5% and TCL enjoying lower bond yields up 1.5%. REITs too slightly higher, GMG up 0.6%. Tech stocks in the naughty corner, CPU down 0.1% and XRO off 1.1%. The All-Tech Index fell 0.5%. Healthcare better and banks heading higher again. The Big Bank Basket up to $188.19 (+0.7%). Insurers better despite lower yields, QBE better by 0.8% and SUN up 3.7%. Fund managers slid with MFG still falling, down 0.6%. In corporate news, plenty happening, BHP quarterly production numbers cheered, NWL fell hard on FUA numbers, down 9.2%. NIC returned after 102c placement, AWC troubled by Alcoa numbers disappointingly down 6.8% and PDN fell 5.8% on its quarterly. On the economic front jobs numbers at 3.5% slightly higher, maybe the RBA can pause? Maybe. Asian markets mixed. 10-year yields 3.32% Dow futures down 41 points. Nasdaq futures down 5 points.

Why not sign up for a free trial? Get access to expert insights and research and become a better investor.