Market Updates

The Dow finished near highs, up 151 points (+0.5%) despite weak economic data out of China and the possibility of Iranian oil flooding the market hurting the oil price. SPI Futures are up 22 points (+0.32%), indicating another day of gains ahead.  

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

• ASX 200 SPI Futures up 22 points.
• Dow up 151 points (0.5%)
• Nasdaq up 81 (0.6%)
• S&P500 up 17 (0.4%)
• Base metals fall  on Chinese data. Copper down 1.2% Nickel down 4.8%.
• Oil falls 3.1% Iron ore down 2.8%
• BHP results in focus US1.75c Dividend. A new record. US$21.3bn underlying profit.

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A good night in the US on Friday night, with the DOW finishing up 424 points (+1.3%), has set up our local market for a positive start to the week. SPI Futures are up 39 points (+0.6%), as a big week of results lies ahead. 

Get up to speed with Henry’s Breakfast briefing.

• ASX 200 SPI Futures 39 points
• Dow up 424 points (1.3%)
• S&P500 up 73 points (1.7%)
• Nasdaq up 267 points (2.1%)
• Base metals ease slightly. Gold up 0.5%
• Iron ore down 1%.
• Results in focus. BHP and FOMC Minutes this week.

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•  ASX 200 fell 38 points to 7033 (0.5%) as market gave up most of the gains this week. Late rally helped somewhat. Resources slid as the AUD strengthened above 71c and 10-year yields soared to 3.40%. BHP fell 0.8%, BSL off 1.6% and FMG fell 0.7%. Base metals eased and lithium mixed after a good week. PLS up 0.3% and AKE down 0.4%. LTR fell 5.6% with SYA under pressure, down 3.5%. Oil and gas stocks moved higher on oil prices, WDS up 3.7% and STO doing well up 0.8%, coal was a merry old soul as SMR delivered with results and rose 10.9%. Gold miners eased back on the stronger dollar hitting bullion prices. Banks were mixed with CBA suffering downgrades and down 0.5%, NAB up 0.8% and the Big Bank Basket relatively unchanged. MQG dropped 0.5%, insurers fell too with QBE down 2.4% and SUN falling 3.9%. Healthcare dived, CSL off 0.8%, RMD down 3.1% and SHL off 3.3%.
•  Industrials were weaker with REITs under pressure, GMG fell 2.8%. WES down 1.7% and consumer stocks generally eased, ALL off 0.7% with tech falling as Nasdaq dropped last night. WTC down 2.5%, XRO off 2.4% and the All-Tech Index off 1.6% with CPU rallying slightly. 
• In corporate news, IAG reported and rose 1.1%. RMD tanked 3.1% on its results and BBN got wind and fell 4.9% on supply chain issues.
•  Nothing on the economic front. Asian markets generally better, Japan back on stream after another holiday and up 2.4%. China down 0.1% and HK up 0.5%. 10-year yields at 3.40%. Bit of a worry. 

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 A bit of a nothing day of trade in the US, the Dow finished up 27 points (+0.1%), after being up as much as 342 at one point. Oil prices are climbing back up towards US$100 a barrel as the IEA lifted its demand forecasts. SPI Futures are down 20 points (-0.3%). 

Get up to speed with Henry’s Breakfast Briefing.

• ASX 200 SPI Futures down 20 points
• Dow gains 27 points (0.1%) well off highs.
• S&P 500 down 3 (0.1%)
• Nasdaq falls 75 points (0.6%) as bond yields rise.
• US PPI falls. Gold down 0.6%
• Oil up 2.3% on IEA report.
• Base metals better. Iron ore up 1.6%
• Results dropping. IAG, BBN.

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•  ASX 200 rallies 78 points to 7057 (1.1%) on positive US leads and CPI number. Risk on, as the shorts are being punished across the board still. Resources leading the charge higher, BHP up 2.2% with FMG up 1.3% and RIO down 3.9% but ex div. Base metals and lithium back in demand. PLS up 4.4%, S32 up 4.1% and OZL rising 1.0%. Gold miners missing out a little as the stronger AUD hinders. NCM down 0.7% though NST up 1.8%. Oil and gas mixed with WDS off 0.6% and STO up 2.3% with coal stocks slightly firmer, WHC up 1.4% and NHC up 1.7%.  Banks did well with the Big Bank Basket up to $177.76 (0.5%). CBA the only faller as brokers were ‘ho hum’ on numbers yesterday. NAB recovering 1.0% with insurers better after the QBE results pleased the market. The sector better as QBE rose 3.3% and SUN up 1.2%. AMP reported but failed to inspire, down 0.9%. MFG had a solid day, up 3.5% and GQG rose 4.9% on FUM and results. Healthcare better on sentiment shift, CSL up 0.9% and RMD doing better up 1.4%. Industrials firm with WES up 2.2%, ALL rising 2.9% and ‘old skool platform’ stocks rising, REA up 4.6% and SEK up %. Staples and defensives underwhelming. Tech doing well despite CPU down 5.1%, XRO up 5.4% and 360 firing ahead by 13.3%. The All Tech Index up 2.3%.
• In corporate news, TLS fell 1.3% after seemingly good results and the first dividend increase in years. QBE rallied on a positive surprise up 3.3%, STO better by 2.3% on the Hunter pipeline acquisition. 
• In economic news, consumer inflation expectations have moderated a little. In Asian markets Japan is closed for Mountain Lion day, China is up 1.5% and HK up 1.8%. 10 -year yields pushed a little higher to 3.28%. 

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US CPI came in slower than expected at 8.5% YoY, with markets rallying on the release. The Dow closed up 535 points (+1.6%) and the Nasdaq gained 2.9%. SPI Futures are up 70 points (+1%) following the rally in the US. Get up to speed on all you need to know with Henry’s Breakfast Briefing.

• ASX 200 SPI Futures up 70 points (1.0%)
• Dow surges 535 points (1.6%) on CPI beat. of 8.5%
• Nasdaq up 361 points (2.9%)
• S&P 500 up 88 (2.1%)
• Base metals better. Nickel up 3.9% Gold slightly higher.
• Oil up 1.1% Iron ore unchanged.
• TLS and QBE drop early Results remain in focus.

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•  ASX 200 slips 37 points to 6993 (0.5%) ahead of the crucial US CPI tonight. Banks held firm with the Big Bank Basket up to $176.88 (0.7%) as CBA delivered and slid slightly lower by 0.3%. NAB rebounded 1.4% on broker comments and ANZ better by 3.4%. MQG backtracked 1.1% with insurers flat. Other financials relatively unchanged. Healthcare slid as CSL fell 1.6%, SHL off 2.9% and COH down 2.9%. REITS slipped GMG down 2.6% and Industrials slightly weaker, WES down 1.1%, REA off 3.8% and ALL down 1.2%. Tech fell back as Nasdaq woes and CPU results weighed on the sector. XRO fell 3.8% with WTC off 1.4% with heavyweight CPU falling 4.8%. The All-Tech Index fell 2.8%. In the mining sector, a wishy washy start saw buyers return but with no real conviction and slid into the afternoon. BHP down 1.3%, lithium stocks rolling off the top as PLS dropped 0.7% with MIN down 2.0% with LTR up 1.5%. Gold miners dribbled back, and oil and gas stocks eased although coal stocks better. 
• In corporate news, ISU saw a 30c bid, CBA fell 0.3% on a strong result, GNC up 5.1% on an earnings update and MYX sold a business for $680m, rising 4.4%. SBM sold off again by 11.6% after another production cut and A2M dived 6.9% as the US FDA deferred a decision on entry. ACL also eased 7.6% on its results despite seemingly better results. 
• In economic news, the ABS will begin monthly CPI reads from October. Asian markets weaker as Chinese CPI came in below expectation but still at a 2-year high. Japan down 0.7%, China down 0.9% and HK down 2.1%. 10-year yields rose to 3.23% 

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Another day of narrow trade in the US ahead of the CPI number tonight. The Dow finished down 58 points (-0.18%), while the Nasdaq was the worst performer again falling 1.2%.  SPI Futures a down 39 points (-0.56%). Catch up on the latest news with Henry’s Breakfast Briefing.

• ASX 200 SPI Futures down 39 points (0.6%)
• Dow fdalls 58 points (0.2%)
• Nasdaq down 151 (1.2%)
• S&P500 down 18 (0.4%)
• Base metals better slightly. Gold up 0.4%
• Iron ore down 1.5% Oil down 0.4%
• CBA numbers drop. In line and dividend looks ok.
• Chinese data at 11.30am. US CPI tonight.

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•  ASX 200 slightly better in a closing rally with the index up 9 points to 7030 (0.1%). Results focus. Another small range day today with Banks weighing following NAB results down 2.9% with the Big Bank Basket down to $ 175.59(1.5%). CBA results tomorrow with SUN bouncing 2.5% post its numbers and broker updates. Insurers doing well, QBE rising 1.4% and IAG up 1.8%. MQG in demand following Veolia deal, up 0.9%. ASX rose 0.5% and MFG rallying 2.8%. Healthcare better with CSL up 0.5% and RHC better by 0.4%. Industrials also in demand, WES up 1.8%, ALL up 1.4% and TLS up 0.8% with ‘old skool’ platform stocks doing well today. REA up 6.7% on results, SEK up 3.2% and tech better with the All Tech Index up 2.1%. XRO up 3.7% and WTC doing well up 2.5%. Resources coming off the boil slightly with OZL up 0.3% but BHP down 0.8%. Lithium stocks in demand and a huge short squeeze in some. LKE up 15.4% and LTR up 5.3%. Off highs but still strong. Base metals eased, S32 down 0.5%, IGO up 0.3%. Oil and gas stocks mixed. 
• In corporate news, NAB fell 2.9% on slightly disappointing NIM numbers, NWS rose 5.9% as its digital offerings did well, MP1 results squeezed the shorts rising 10.0% and MSB fell 7.0% on yet another capital raising at 75c. 
• In economic news, consumer confidence remains fragile and falling, hitting lowest level since April 2020. Asian markets mixed, Japan down 0.9%, China up 0.1% and HK up 0.3%. 

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A narrow day of trade for the Dow, finishing up 29 points (+0.2%), off highs of 306 points. Trade remains cautious ahead of the CPI print on Wednesday night. SPI Futures are down eight points (-0.1%). 

Get up to speed with Henry’s Breakfast Briefing.

• ASX 200 SPI down 8 points
• Dow up 29 points (0.1%) Results focus.
• S&P 500 down 5 points (0.1%)
• Nasdaq down 13 (0.1%)
• Base metals mixed. Copper up 1.3% Nickel down 2.5%
• Gold up 0.8% Oil up 1.8%
• Iron ore up 1.7%
• Results in focus. NWS, REA, CPU and NAB.

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