Market Updates

• ASX 200 pushes another 16 points ahead to 6823 as CPI comes in below expectations. Core inflation at highest since 1991 at 4.9%. Good news.  Banks led the market higher as the Big Bank Basket rallied to $173.17 (1.7%) with ANZ up 0.4% and ANZR up 2.9%. Insurers slightly higher with IAG better by 1.1%, MQG dropped 1.1% though. Healthcare better with CSL up 1.8% and RMD up 0.7%. Industrials mixed as WES rose 0.9%, WOW up 0.7% and TCL rose 1.9%. REITS slightly better, 10-year yields dropping to 3.28%. Techs were flying, risk appetite is back. The All-Tech Index was flat, but second line June casualties are roaring ahead. BNPL SZL was up 95.82% before a trading pause, ZIP up another 21.0%, FLN up 8.6% CTT up 11.5% and ALC up 14.8%. 
• Quarterly reports better than expected. In resources it was red day with smatterings of green. Iron ore stocks eased, BHP down 2.0% RIO off 2.0% with LYC off 0.7%. Lithium stocks were mixed, LTR down 0.8% but AKE up 2.6%. Coal stocks mixed and oil and gas flat. Gold stocks twitching. In corporate news, plenty of quarterlies, SRX began life ex ILU. CMM rose 8.8% on its quarterly report. On the economic front CPI came in at 6.1%, below forecasts and 10-year yields fell again. Good sign and one reason why tech is rallying hard. 50bps now locked in. Asian markets mixed Japan up 0.3%. China down 0.3% and HK down 1.1%

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• ASX 200 SPI Futures down 36 points 
• Dow down 229 points (0.7%)
• S&P 500 down 46 points 1.2%
• Nasdaq down 220 points 1.9%
• Base metals up slightly.
• Iron ore up 1.3% Oil down 1.8%
• Gold unchanged.

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 ASX 200 pushed 17 points ahead to 6807 (0.3%) despite US futures weakness on Walmart news. Fed watching continues. US results in focus tonight. Resources carried the day with iron ore producers doing well, BHP up 2.5%, RIO up 1.9% and FMG rallying 2.5%. Base metals were also better as OZL ran 1.1% and lithium stocks firmed. Oil and gas doing ok as crude prices rose and Russia cut back gas supplies in Europe. STO up 2.6% and WDS up 2.8%. Coal stock finding friends again with WHC up 6.4%. Some tech in demand as ZIP led the charge up 19.9%, with WTC up 0.8% and XRO falling 1.3%. The All-Tech Index flat. Industrials were sloppy, CSL down 1.5% and ALL to find any cherries down 1.8% with TCL coming under fire down 1.1% and WOW off 1.3%. Banks were mixed but ANZ still a firm fave with the Rights up 0.8%. The Big Bank Basket steady at $170.16. In corporate news, MYR delighted shareholders with some good numbers up 21.3%, quarterlies in SYA and PDN with VUL up 4.9% on council approvals. GRR got whacked 11.4% after its quarterly disappointed. NTO blew up on its Q2 update imploding 22.7%. In economic news, agriculture is going well, Asian markets better with China up 0.8% and HK up 1.4%. 10 -year yields ease to 3.34%     

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• ASX 200 finished slightly weaker down 3 at 6792 (0%) as the index drifted around ahead of weekend. Dow futures weighing slightly on Snap drop. Banks were firm dominated by trade in ANZ rights up 25.4%. The Big Bank Basket rose to $171.34(0.8%). MQG slipped slightly as brokers warning of a weaker result to come, QBE slumped 2.1% as IAG underwhelmed with numbers falling 1.4%. MFG continued to find friends up 2.3%. Healthcare mixed, CSL down 0.6% and COH up 3.2%. Industrials wafted around, TLS fell 1.3%, REA down 3.9%, DMP down 4.5% with REITs unchanged. Tech patchy with some good gains in DUB, PNV and MP1. The All-Tech Index unchanged. Miners were flat with some strength in some gold miners, NST up 2.0% and BHP still under pressure on iron ore pricing down 0.11%. Lithium stocks mixed, Julie Bishop’s MIN fell 1.5%. Oil and gas stocks fell, WDS down 0.6% and STO off 3.0% with coal stocks mixed after a big week. 
• In corporate news, AX1 slipped 11.6% lower on a disappointing update, CRN had a quarterly falling 8.1% and HUM fell 5.9% on an update on potential exposure to Forum Finance. Nothing special on the economic front. Asian markets Japan up 0.4%. China unchanged and HK up 0.2%. 10-year yields under pressure at 3.43%.                  

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Another good night in the US as the Dow finished up 162 points (+0.51%) rallying off lows and closing near highs, rounding out the best three-session rally since May. SPI Futures indicating a slow day ahead, up 12 points (+0.18%) this morning. Get up to speed on the latest with Henry’s Breakfast Briefing.

• ASX SPI 200 Futures up 12 points
• Dow up 162 v (0.5%0
• Nasdaq up 162 v (1.4%)
• S&P 500 up 39 points (1.0%)
• ECB raises rates to zero. Creates Transmission Protection Instrument.
• Base metals mixed. 
• Oil pulls back as Nord Stream comes back on line.
• Gold up $13.20 (0.8%)
• Iron ore down 0.7%

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•  ASX 200 surged 35-points to 6794 (0.5%) in late trade. Banks were the strength and industrials, as the Big Bank Basket rose to $170.05 (1.1%) after ANZ joined the fray, up 2.2%. Seems $3.5bn was an easy raise for a good acquisition. CBA up 1.7%, elsewhere financials flat, MQG up 0.4% and SUN dropping 2.1%. MFG kicked again rising 2.8%. Healthcare out of ICU with CSL rising 1.4%, RMD up 2.5% and SHL doing well as CV19 cases mount. Industrials better, TLS up 1.5%, WES up 1.7% and ‘old skool’ stocks REA up 5.0% and SEK up 2.0%. Staples better COL up 1.3% and WOW up 1.0% with tech stocks powering ahead again, WTC up 3.6%, XRO up 3.3% and the All-Tech Index better by 3.4%. REITs eased back led by GMG down 0.1%. In resources, iron ore stocks on the nose, BHP down 0.9%, FMG off 1.1% and oil and gas flopped with both WDS  down 4.4% and STO under pressure on production reports, down 1.4%. Lithium stocks found a friend in Musk who said that it was a licence to print money, LTR up 11.2% on a KV update, CXO doing well up 6.5% and PLS up 3.2%. Coal stocks finding sellers with WHC down 4.0%. 
• In corporate news, Z1P soared again as it revealed a cunning plan to improve the business, TLX up 20.7% on its quarterly report, LNK agreed to a new bid from Dye and Durham although ACCC could still be an issue. The stock rose 12.6% on the news but still a discount to the bid. Production and quarterly reports continuing, nothing on the economic front. Asian markets mixed as BoJ does ‘nashi’ again.10-year yields steady at 3.53%          

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Upbeat US corporate earnings provided a boost for stocks overnight, the Dow finished up 48 points (+0.15%) while the Nasdaq outperformed finishing up 1.58%. SPI Futures are down 33 points this morning (-0.49%). 

Get up to speed with Henry’s Breakfast Briefing.

• ASX 200 SPI Futures down 33 points
• Dow up 48 points(0.25%)
• Nasdaq up 185 points (1.6%)
• S&P 500 up 23 v (0.6%)
• Tesla up 0.7% after results.
• Base metals slightly higher. Nickel up 2.4%
• Gold hits 11-month low at US$1700 down 0.6%
• Oil down 0.4%
• ANZ completes institutional entitlement 

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•  ASX 200 sprinted 110 points higher to 6759 (1.7%) on US rally and company updates. All cylinders firing as banks, resources and industrials were bought up. Another bear rally or the real thing? The Big Bank Basket rose to $168.20 (1.0) with ANZ still in a halt. Fund managers also in demand, MQG up 3.9%, HUB rose 0.5% and Insurers also in demand, QBE up 1.0% with SUN rallying 1.1%. Even MFG had its day in the sun, up 7.0%. Healthcare bounced back with CSL up 0.2% and SHL up 2.1% as RMD rallied 2.6%. REITs flying with GMG up 3.1% and SCG up 2.5% with industrials in demand. Staples a little left behind, JBH up raced 4.6% higher post broker comments, REH doing well up 6.3%, TLS up 0.5% and ‘old skool’ REA up 2.8% with CAR up 2.6%. Tech stocks bouncing hard, WTC up 5.6%, XRO up 5.9% and ZIP doing well up 12.71%. The All-Tech Index up 3.8%. In resources it was all systems go, BHP up 1.4%, FMG up 5.2% and even gold miners doing ok, NCM up 2.8% and BGL up 3.7%. Lithium in demand, LTR soaring 10.4%, PDN rallying 10.5% and SLX up 12.4% on good news. Oil and gas stocks rallied, WDS up 0.4% and STO 2.1% higher. 
• In corporate news, MP1 silenced the bears with a better than expected update, rising 23.0%, ILU rallied 7.2% on a strategic update.    SMP up 18.4% on a trading update, BUB up 6.5% on a update on I’m Biden , Fly me. AKE shrugged of early losses after its quarterly report, up 0.9%, BPT up 2.8% on its quarterly. In economic news, Phil Lowe gave a speech and admitted RBA had been too pessimistic on economy. Asian markets better and 10-year yields up to 3.54%          

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US markets had a strong rally overnight with the S&P 500 (+1.92%) posting its best day in three weeks. The Dow finished just off highs, up 754 points (+2.43%). SPI Futures are indicating a strong day of trade ahead for Aussie markets, up 79 points (+1.21%). 

Get all you need to know for today with Henry’s Breakfast Briefing.

• ASX 200 SPI Futures  up 79 Points (1.2%)
• Dow up 754 points (2.4%)
• Nasdaaq up 353 points (3.5%)
• S&P 500 up 106 points (2.8%)
• Oil up 1%. Iron ore down 2%
• Gold unchanged.
• Base metals flat.Miners head higher.
• US banks rally hard. Results not as bad as expected.

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• ASX 200 fell 38 points to 6650 (-0.6%). Asian markets all weaker and RBA minutes kicked in at 11.30am to help us down a little. Volumes remain modest. Resources turned turtle with iron ore miners mixed on BHP production report, down 1.0%. FMG up 0.7% whilst base metals stocks slipped quietly away, IGO down 1.4%, S32 off 2.3% and LYC down 1.6%. Lithium stocks a little depressed, AKE off 3.3% and PLS down 3.3%. Gold miners going nowhere but energy stocks full of beans, WDS up 3.6%, STO up 1.1% and WHC up 5.3%, Banks were firm on higher bond yields around 3.49% post-RBA, the Big Bank Basket up to $166.66 (0.2%). ANZ still suspended but CBA better by 0.8%. MQG slid 3.3% and insurers under pressure again despite higher bond yields. Healthcare in ICU today, CSL falling 2.0%, RMD down 4.6% and SHL sliding 3.7%. Industrials weak, WOW and COL off with GMG leading REITs lower with the GMG at 2.6%. Tech eased as XRO cratered 6.0%, WTC saw profit taking down 4.9% and the All Tech Index down 2.2%. 
• In corporate news, PDL looks like it will be knocked off with another share bid from PTM. JBH pushed 2.2%  higher despite record results. HUB fell 5.0% on a market update. In economic news, ANZ consumer confidence showed a slight kick higher the RBA minutes curbed enthusiasm. Asian markets weaker with 10-year yields rising to 3.51%.

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