Market Updates

• ASX 200 SPI Futures up 110 points.
• Dow reverses 500 point loss to close up 828 points (2.8%)
• Nasdaq up 232 points (2.2%)
• S&P500 up 93 points (2.6%)
• US Core CPI hits 40-year high. Bond yields off highs. 
• US Banks soar on CPI.
• VIX drops 4.8%. USD falls.
• Oil gains 2.6% Gold down 0.5%
• Base metals mixed but unspectacular.
• Iron ore eases back. RIO in the hunt for lithium projects in news.

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

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Dow Jones gives away a 216 point rise to close down 28 on the day (-0.1%). NASDAQ almost unchanged down 0.09%. S&P 500 down 0.24%. VIX Volatility index down 0.2%. European markets quietly fading, STOXX 600 index down 0.5%, UK down 0.8%, Germany down 0.4%. No one wants to do anything ahead of the US CPI number tonight. Expecting core CPI of +6.5% YonY and +0.5% MonM. Up from 6.4% and 0.3%. So no peak in inflation yet.

Catch up on the latest news with Marcus Padley’s Pre-Market Podcast.

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ASX 200 closed 3 points to 6648 (0.04%) higher as banks rebounded led by BOQ and its results report. BOQ up 11.1% with CBA up 2.4% after its AGM and reaffirmed guidance. The Big Bank Basket rose to $173.33 (2.5%). WBC up 3.8% and ANZ running hot up 3.3%. Other financials flat with MQG down 0.1% and insurers flatlining too. Healthcare fell with CSL down 1.1% on its AGM comments, COH down 2.0% and RHC off 0.8%. Industrials pretty uninspiring with some gains in REITs as bond yields fell back a little. GMG up 0.5% and SCG up 1.9%. TLS flat after the AGM yesterday and the plan to sell 49.9% of InfraCo. Tech stocks mixed with WTC up 1.6% and XRO and CPU falling. The All-Tech Index falling 0.8%. Resources were a little weaker as iron ore stocks were sold off, BHP down 1.0% and FMG continuing to slide 2.8%. MIN down 3.7% on no decision yet on processing at Wodgina and iron ore falling in Asia. Oil and gas stocks fell with WDS down 1.9% and STO off 2.5%. Lithium flat and gold miners also out of the limelight. In corporate news, CRN ran 8.0% higher on media speculation of a merger with Peabody. Other coal stocks also made gains. QPM rose 16.7% after a deal with GM and IGO up 0.7% as its partner reported high grade lithium at Mt Alexander. On the economic front, plenty of chat from Matt Comyn from CBA at AGM and consumer sentiment continues to slip. In Asian markets, Japan unchanged HK down 2.0% though China down 1.4%. 10-year yields falling to 3.95%.
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• ASX 200 SPI Futures down 22 points
• Dow rallies off lows to close up 36 points (0.1%)
• S&P 500 down 24 points  (0.7%)
• Nasdaq falls 116 points (1.2%) as chip makers suffer.
• Oil drops another 2% Gold steady. 
• Iron ore down 1.1% BHP and RIO down over 2% in ADRs
• Base metals ease. Nickel down 1.8%
• CPI and US Reports in focus.
• CSL and CBA AGMs today.

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

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 ASX 200 closed down 23 to 6645 as early gains evaporated in thin, convictionless trade. US futures turned south, and bond yields rose with the 10-year heading over 4%. AUD under pressure again. Banks turned lower with the Big Bank Basket down to $169.04 (0.6%). CBA and NAB on the nose. MQG fell 0.6% in a late sell off, insurers unchanged. Healthcare stocks also held up just CSL down 0.1% with RHC up 1.0%. Industrials were firm but idle, TLS rose 0.3% on its AGM and restructure plans. Tech slipped slightly but no real damage, WTC off 1.3% and the Index down 1.0%. Resources gave up some early gains as BHP slid 0.4% and FMG fell 2.2%. S32 eased 2.9% with lithium stocks remaining well sought, PLS up 0.6% and MIN up 2.8%. Energy stocks fell harder with WDS down 2.4% and STO off 1.3% with coal not such a merry old soul, WHC off 0.8%.

In corporate news, BBN spat the dummy after its update on lower margins and inflation impacts, falling 20.5%. DBI rose 6.2% on an investor presentation, PNV up 6.0% on more director buying and SLC better by 11.8% on its AGM commentary.

On the economic front, Westpac consumer confidence slipped again, and the Australian Office of Financial Management said it could nearly halve the amount of debt it plans to seek this year after a better than expected position. Asian markets off as Japan falls 2.6% HK down 1.6% though China up 0.5%.
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• ASX 200 SPI Futures up 12 points
• Dow down 94 points (0.3%)
• Nasdaq off 110 points (1.0%)
• S&P 500 falls 27 points (0.8%)
• VIX up 3.5% to 32.45
• Oil falls 2.3% Gold down 1.6% as USD heads higher. 
• Base metals slightly weaker. Iron ore up 2.6%
• Yields up with US 10 years 3.888%
• AUD under 63c
• AGM season kicks off here with TLS.

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ASX 200 fell 95 points to 6668 (1.4%). Falls across the board with the only bright spot iron ore, RIO up 0.9% and FMG up 1.9%. Base metals fell slightly as PLS dropped 3.9%, S32 down 1.6% and IGO off 0.6%. A falling AUD helping the resource sector but no such luck for the gold miners with NCM off 4.0% and NST down 4.4%. Energy stocks failed to find buyers today with WDS down 0.7% and STO off 1.0%. Coal stocks also saw some profit taking as WHC slipped 4.7%. In the banks the Big Bank Basket fell to $170.08 (2.0%). CBA down 1.5% and MQG sliding 1.2% with ASX off 4.8% and MFG falling yet again another 4.1%. Healthcare down, CSL off % and industrials eased with REITs suffering from higher 10-year yields. GMG down 1.9% and SCG falling 1.9%. Tech followed Nasdaq lower with the Index down 3.0% and WTC off 2.3%.

In corporate news, JLG crashed 14.8% as the CEO sold 4m shares to buy a house in the US. PPH rose 4.9% on an increased bid speculation, TYR rose 1.7% after a business update.

Nothing exciting on the economic front. In Asia, China back and weaker following PMI numbers Saturday and lower spending during Golden Week, off the worst down only 0.9%, HK down 2.5% and Japan falling 0.7%. 10-year yields 3.90%.

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• ASX 200 SPI Futures down 61 (0.9%)
• Dow falls 630 points (2.1%) after better than expected jobs numbers.
• S&P500 down 105 points (2.8%)
• Nasdaq down 421 (3.8%)
• USD better again AUD below 64c.
• 10-year yields unchanged. VIX up 2.2%
• Oil rallies 3.7% Gold down 1.5%
• Base metals ease.
• US reporting season kicks off later this week. US CPI Thursday.

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

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• ASX 200 SPI Futures down 50 points (0.7%)
• Dow Jones fall 346 points (1.2%)
• S&P 500 down 39 points (1.0%)
• Nasdaq down 75 points (0.7%)
• US yields push higher again. USD back up too. AUD down to 64.10.
• Gold unchanged. Oil continues to push higher up 1.1%
• RBA Financial stability report today. US jobs Friday.

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

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