Market Updates

• ASX 200 SPI Futures down 7 points.
• Dow closes up 77 points (0.2%)
• S&P500  down 7 (0.2%)
• Nasdaq down 63 points (0.5%)
• Iron ore up 1.8% Gold down 0.9%
• USD stronger. Yields rise on 528k jobs number.
• Chinese data over weekend positive.
• Base metals better. Oil up 0.9%

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• ASX 200 finished the week in style hitting a high or 7016 up 41 points (0.6%). Global markets hitting two-month highs. Resources were back in fashion, BHP leading the charge, up 1.7% and RIO up 2.6% with FMG rallying 2.7%. Base metals in demand too, OZL up 3.1%, IGO up 4.1% and S32 rallying 2.4%. Gold miners shining, NCM up 0.7%, DEG up 3.2% and EVN up 3.4%. Lithium stocks too continued the rally, LTR up 6.7% and CXO up 6.2% on a new CEO. Oil and gas though fell sharply, KAR down 5.85% WDS off 1.3% and STO falling 0.7%. Old king coal not such a merry old soul either WHC down 3.5% and NHC off 5.4%. Industrials and healthcare going nicely nicely. CSL up 0.7% with RHC finding friends finally up 3.7%, COH also up 1.8%. WES rallied 1.5%, TLS very solid again up 1.0% and COL, EDV and WOW doing well. Tech better, WTC up 1.2% on an upgrade, XRO eased 2.6% and CPU off1.5 %. The All-Tech Index off 1.1%. The banks were solid, CBA slipped 0.4% but the other three solid, ANZ up 0.8% and Rights up 5.7%. MQG rallied with insurers also in demand, QBE up 1.3% and SUN ahead by 1.7%. The Big Bank Basket steady at $177.23(0%). 
• In corporate news, ARU dived 14.0% as its capital raising weighed. SQ2 fell 6.2% on the US results. The RBA released its SOMP. No surprises really. None expected. Asian markets firm, Japan up 0.8%, China up 0.3% and HK unchanged.

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Energy stocks weighed on the market overnight with oil falling Brent falling 2.75%, and WTI falling below US$90, the Dow finished down 85 points (-0.26%). Technology stocks continued their rise, the Nasdaq gained 0.41%. SPI Futures are up six points, indicating a slow day of trade ahead. 

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• ASX 200 SPI Futures up 6 points
• Dow fell 86 pointsn(0.3%) in tight range trading ahead of jobs numbers.
• Nasdaq up 52 points (0.4%)
• S&P 500 down 3 points. VIX falls again to 21.
• Gold soars $30.50 to US$1806.90
• Iron ore down 3.5% Oil down 2.8%
• Quiet day ahead.

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 ASX 200 closed down 1 point at 6975 well off intra day highs as enthusiasm wanes and iron ore stocks sagged. BHP down 1.1%, FMG down 2.0% and RIO off 1.6%. Base metals were slightly weaker but hardly registering on the same level, lithium stocks a little mixed, PLS down 1.1% LTR up 3.7% and AKE up 1.4%. Gold miners eased back slightly with NCM off 1.0%, DEG down 2.6% and NST falling 0.1%. Oil and gas down hard as crude sank, STO down 1.3% and WDS off 3.1%. Banks were a beacon of green light today with the Big Bank Basket up to $177.33 (0.9%). CBA the biggest and the brightest with a 1.3% gain. Other financials caught in a trap, can’t get out, MQG eased 0.3%. Insurers mixed. Healthcare slightly lower as CSL slipped 0.7%, FPH fell 2.5% and industrials flat. COL down 0.6%, EDV off 2.5% and WOW falling 1.1%. Telcos rose as TLS rallied 1.3% and tech stocks better with XRO up 0.7% and WTC up 0.9%, the All-Tech Index up 2.2%.
In corporate news, ORI returned from its outsized cap raise and fell 9.3%, NWH rose 10.9% on its results update. On the economic front the BoP came in better than expected. Asian market slightly firmer despite fly-bys in Taiwan. 10 year yields up to 3.12%

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US stocks reversed losses from earlier in the week overnight, the Dow added 416 points (+1.3%), while the Nasdaq continued its charge, finishing up 2.6%. SPI Futures are indicating a 32-point (+0.47%) gain.

• ASX 200 SPI Futures up 32 points
• Dow soars 416 points (1.3%) on better corporate results.
• Nasdaq up 319 points (2.6%)
• S&P500 up 64 points (1.6%)
• Oil drops 3.7% ahead of OPEC Plus
• Iron ore down 3.8% Base metals ease.
• Gold off 0.7% as Pelosi flies out ofTaiwan
• VIX index in US down to 22.

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 ASX 200 closed down 22 points at 6976 (0.3%) off the lows as Pelosi visit fears calm slightly. Banks slipped lower with the Big Bank Basket down to $175.71 (1%). MQG down 1.4% and ASX slipping 3.4% on yet more delays to CHESS replacement. Insurers slightly higher, QBE up 1.1%. Healthcare fell away with CSL leading the sector flat after early losses, SHL off 1.5% and COH off 0.6%. Industrials eased back with WOW and COL easier by 1.3%, WES down 1.1% and ALL off 1.6%. REITs steady and Tech better. WTC up 3.3% and XRO pushing ahead by 3.6%. The All-Tech Index up 1.8%. In resources, miners staged a comeback with BHP up 0.1%, FMG doing better up 0.7% and base metal stocks in favour. S32 up 0.8% and LYC rallying 7.6% on Mt Weld expansion plans. Lithium stocks better led by PLS and CXO up 2.2% and 4.0% respectively. Gold miners eased off slightly with oil and gas stocks under pressure, WDS down 0.3% and STO off 2.1%.  In corporate news, ORI in a halt with a $650m capital raise and an acquisition. RAP rose 50% on an increased offer from Pfizer. In economic news, we had retail trade volumes up 1.4% which gave some hope to the sector. Asian markets being cautious on Pelosi visit with Japan up 0.4%, China flat and HK up 0.6%. 10 -year yields steady at 3.06% after the drop yesterday in RBA news.

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US markets fell again overnight, the Dow fell 402 points (-1.2%), following US-China political tensions and hawkish comments from the Fed’s Daly. SPI Futures indicating a soft day of trade ahead, down 11 points (-0.2%).

• ASX 200 SPI Futures down 11 points.
• Dow falls 402 points (1.2%) Caterpillar weighs.
• S&P 500 down 27 points (0.7%)
• Nasdaq down 20 points (0.2%) Paypal soars after hours. Airbnb slumps after hours.
• Base metals ease slightly.
• Oil up 0.5%. Gold slightly higher.
• Iron ore up down slightly.
• US Bond yields rise as pivot comes into question.

• ASX 200 SPI Futures up 70 points.
• Dow runs another 332 points (1.0%)
• Nasdaq up 130 points (1.1%)
• S&P 500 up 49 (1.2%)
• Apple and Amazon please after hours. Nasdaq futures up 140 after trade.
• Base metals better. Gold runs 1.8%
• Oil up 0.5%. Iron ore better.

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•  ASX 200 rose 67 points to 6890 (1%) as buyers flooded back post Fed. Almost like a short squeeze of epic proportions in second line tech. Banks boosted despite falling yields, the Big Bank Basket up to $174.35 (0.7%) with ANZR down 1.8%. CBA the super star up 1%. MQG delivered again up 3.0% for its 53rd yearly consecutive profit. Insurers mixed, QBE up 1.1%, SUN down 0.8% and MFG up 2.4%. Healthcare going nowhere today, CSL down 0.2% and RMD flat. REITS slightly higher, GMG up 1.8%. Industrials better but somewhat anaemic, telcos better on NBN news, tech was the word. The All-Tech Index up 2.3% but hampered by CPU down 3.5%. Second liners took comfort from quarterlies, KGN up 50.2%, PBH up 20.6%, NMT up 13.0%, AD8 up 9.6% on a business update, MP1 soaring another 9.3% and SZL up 44.7%. BNPL is back. At least for now. Massive short squeeze. 
• In resources, RIO was slightly lagging up 0.7% but BHP up 2.1% and FMG firing 2.9% on production numbers and CEO comments. Gold miners doing well, NST up 2.6% EVN up 2.9% and DEG better by 6.1%. Lithium in demand, PLS quarterly cheered up 6.2%, LYC hitting straps again up 2.7% and MIN turning hard by 9.0%. Base metals in demand too IGO up 7.0% and OZL up 7.1%. Oil and gas better, WDS up 1.5% STO up 1.0% with YAL down 10.9% as Glencore sold out. 
• In corporate news, ALX saw the bidder walk away without paying the toll, down 6.1%, KGN went nuts on a ho-hum quarterly update. SYR received a binding US$102m loan from US DoE and rallied 12.8%. In economic news, retail sales rose 0.2% month-on-month. Meanwhile in Asia, Japan up 0.2%, China up 0.5% and HK down 0.4%. 

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• ASX 200 SPI Futures up 52
• Dow runs 436 points higher (1.4%) as Fed raises rates 75bps.
• Nasdaq up 470 points (4.1%) 
• S&P 500 up 103 points (2.6%)
• Base metals firm. Gold and iron ore steady.
• Oil up 2.1%
• RIO in focus post results. Div a little light on.
• MQG update out.

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