Market Updates

ASX 200 SPI Futures down 19 points.
Dow down 38 points (0.1%)
Nasdaq up 152 points (1.4%)
S&P500 up 8 (0.2%)
VIX down 5.5%
Oil falls 5.2% Gold down 1.9%
Iron ore tumbles 5.9%
US markets closed for Bank Holiday

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•  ASX 200 falls 116 points to 6475 (1.8%) well off lows ahead of US Juneeth Holiday Monday. Good rally into the close. ASX 200 down 6.6% this week. Few sectors were spared today with the Banks falling hard, CBA down 3.6% and NAB down 1.7% hitting 52-week lows. The Big Bank Basket dropped to $153.53 (2.6%). Insurers eased back as QBE fell 2.7% and MQG eased 3.0%. GQG fell 5.5% but MFG actually rallied 1.8%. Healthcare in casualty again today with CSL down 1.0%, RHC falling 3.2% a long way from the supposed bid price from KKR at 8800c. Barbarians not even in the area let alone the gate. Industrials sagged as WES fell another 1.2%, REITs under pressure, GMG down 2.5%, TLS falling 2.1% and REA and SEK under pressure again. One bright spot in WOW up 0.2%. Tech stocks in the seller’s sights, XRO down 5.6%, CPU off 0.9% and SQ2 collapsing 7.8% with the All-Tech Index down 1.2%. Resources on the nose as iron ore producers fell, BHP off 3.4%, FMG down 5.3% and RIO down 4.2%. Gold miners rose as AUD gold prices pushed higher, NCM up 3.7% and NST up 5.1%. Lithium depressed again, AKE down 4.2%, LYC down 2.8% and IGO off 3.5%. Oil and gas stocks fell hard too, WDS down 0.9% and STO tumbling 2.9%. Old king coal not such a merry old soul with WHC down 6.2% and YAL off 4.0%. 
• In corporate news, BUB updated the market on a big bounce in China and US formula crisis as tailwinds rising 9.1%, GUD tried to sneak through a market update after hours last night, failed and fell %. DCN crashed 19.6% after closing Mt Morgans due to cost pressures. Nothing on the economic front today. Asian markets mixed with China and HK better. Japan down 1.5% as BOJ stays on hold. 

• ASX 200 SPI Futures down 135 points
• Dow down 741 points (2.4%)
• Nasdaq down 453 points (4.1%)
• S&P500 down 123 (3.3%)
• Base metals fall. Oil up 1.1%
• Iron ore falls 0.3% with Coking coal down 6.2% yesterday in China.
• Gold up 1.7% as USD falls.

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•  ASX 200 gave up all its early gains to finish down 10 points to 6594 (0.2%). US futures flip flopped and jobs numbers came in better than expected below the headline making it more likely that the RBA has to go harder. The Big Bank Basket slipped again to $157.67 (). CBA down 0.2% and WBC off 1.9% with insurers off as QBE slipped 2.0% and SUN fell 1.0%. MQG held up and Buy Now Pain Later stocks rose slightly with ZIP up 1.0% and SQ2 up 1.5%. Healthcare was also under some stress with CSL dropping 0.9%, COH off 2.9% and RHC down 1.4%. Industrials were mixed with TCL down 1.6%, REITs better as GMG rose 2.4% and supermarkets COL and WOW both slipped slightly. Tech stocks going sideways with the Index unchanged, WTC rose 1.8% and XRO up 0.3%. Resources were a happy place today, BHP up 0.3% and RIO rising 0.7%, lithium back in fashion as LTR rallied 3.9% and PLS up 3.9%. Uranium back too with PDN rallying 1.6% and coal stocks bouncing back. SMR up 10.5% and CRN rising 6.1%. Oil and gas stocks better, WDS up 0.7% and BPT up 0.3%. Oil slightly higher in Asian trade. 
• In corporate news, LNK were shaken and stirred by 10.4% as the ACCC having concerns with the Dye and Durham bid, SIQ fell 10.9% after losing a government contract in VIC, HUM rattled down 14.8% on a business update. 
• On the economic front, more bad news on our doorsteps with house price forecasts but official jobs data still showed a booming economy and a 3.9% unemployment rate despite participation heading higher again. Mixed session in Asia with HK and China slipping. Local 10-year yields back down to 4.10% 

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EARLY BRIEFING

• ASX 200 SPI Futures up 16 points
• Fed raises rates 0.75% biggest rise since 1994.
• Dow up 304 points (1.0%)
• Nasdaq up 271 points (2.5%)
• S&P500 up 55 (1.5%)
• Base metals better with Nickel up 2.2%
• Oil down 2.2% Gold up 0.3%
• Iron ore down 2%.

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ASX 200 down 85 points to 6601 (1.3%). Bond yields jump to 4.23% in 10-year yields as minimum wage worries fuel inflation fears. Banks get smacked down with the Big Bank Basket down to $158.25 (%). CBA down 0.6% and NAB off 1.9% with MQG holding firm up 0.5% as insurers rising slightly. SUN up 3.5% and QBE up 2.2%. Fund managers slipped with GQG off 3.1% and MFG down 2.1%. In healthcare CSL dropped 1.2% and others fell, RHC off 0.9%, COH off 3.9% and FPH under pressure down 3.5%. Industrials saw selling with defensives like TCL falling 0.9% on higher rates, WOW down 1.6% and COL down 1.2%. REITS off as GMG fell 4.4%, DXS down 1.9% and old school platform stocks remain under pressure, REA down 6.4% and SEK off 6.8%. TLS was a green spot in another sea of red, up 2.1%. Tech down hard again, WTC off %3.7%, XRO down 5.2%. All Tech Index down 3.6%. In resources, BHP dropped 0.8% with S32 down 3.6% and FMG bucking the trend up 1.3%. Gold miners eased back, and lithium fell again, PLS down 5.1% and AKE off 1.4%. Oil and gas stocks fell too despite crude rising slightly, WDS down 3.1% and STO down 1.0%. Coal too buckled, WHC off 0.4% and SMR down 7.8%. 

• In corporate news, RMD down 2.9%, agreed to buy a software firm in a $1.45bn deal. Plenty happening on the economic front as consumer sentiment plummets to recessionary readings and Chinese data better than expected. Asian markets were mixed with China up 2.2% and HK up 1.3%.

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The Dow fell for a fifth consecutive session ending up down 152 points (-0.5%) as markets remain skittish ahead of the FOMC interest rate decision tonight. SPI Futures are down 40 points (-0.6%) following yesterday’s fall. Get up to speed on all the latest with Henry’s Breakfast Briefing.

• ASX 200 SPI Futures down 40 points
• Dow drops another 152 points (0.5%)
• Nasdaq up 19 (0.2%)
• S&P 500 down 14 (0.4%)
• Iron ore down 0.9%
• Base metals down down slightly.
• Oil down 1.7%
• Chinese data due later.

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•  ASX 200 fell 246 points to 6686 (3.6%). A surprisingly calm and steady day at least after the collapse at the open. Good rally into the close as US futures rallied. Sideways from the initial dump. All sectors of the market were trashed today with the financials under pressure led by the big four as the Bank Basket fell to $160.11 (3.4%). MQG fell 5.2% as deals are drying up, MFG down just 0.4 % and insurers under pressure with QBE down 4.0%. Healthcare proved no happy hiding place, CSL down 2.7% and RHC falling 3.5%. RMD the best of the bunch up 0.2%. 
• Industrials under pressure, even consumer staples succumbed to the sell off. WOW down 1.5%, COL off 1.4% and EDV unchanged. REITs got smacked down as GMG fell 3.6% and DXS down 4.6%.; Tech stocks sold off led by SQ2 down 15.1% with WTC down 6.0% and Z1P falling 15.9%. In resources, BHP staggered 4.2% wiping 30 points off the index by itself. Iron ore stocks were down hard as China sees CV10 cases rise and some restrictions back. FMG fell 8.5%, RIO down 4.2% and base metal stocks eased, IGO down 4.0%, S32 off 6.5% and lithium stocks depressed, PLS down 4.0% and AKE off 5.3%. Plenty of other casualties in the hot metal space, oil and gas also under pressure, STO down 5.0% and WDS down 5.3%. No hiding in energy despite oil holding above US$120.
•  In corporate news, WGX rose 3.9% on production numbers, MSB down 10.3% on a second-class action. 
• Not much on the economic front, household spending rose 7.6% in April 2022. Asian markets lost ground as expected but escaped better than local markets, China down 1.9%, HK off 0.9% and Japan down 1.8%. 

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The Aussie market is playing catch up this morning and it is set to be a brutal reaction after two consecutive 800+ point falls on the Dow. 

Get up to speed with Henry's Breakfast Briefing.

• ASX 200 SPI Futures down 183 points.
• Dow falls another 876 points (2.8%)
• Nasdaq down 531 points (4.7%)
• S&P 500 down 151 points (3.9%)
• VIX up 22.6%
• Base metals hit. Iron ore down 2%
• Oil up 0.2% Libyan oil supply issues.
• Fed meeting now 75bps firming.

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•  ASX 200 finished near lows down 84 points at 6936 (1.3%). Plenty of nerves pre the CPI tonight as banks tried to rally before being ambushed again. The Big Bank Basket fell to $165.76 (1.2) with CBA off 1.2% and MQG dropping 3.5%. Insurers also easier despite yields rising on bonds. QBE down 2.0% and IAG off 2.6%. Fund managers fell again, GQG down 1.2% and MFG down 4.2%. Industrials continued to slip slide away, WES under more pressure down 2.5%, GMG off 2.8% and TLS falling 1.6%. Small losses across others with CAR and SEK steady. Healthcare mixed as CSL flat, but the rest of the sector weakened, SHL down 1.3%.Tech stocks mixed with XRO rising 4.0% but others falling away, SQ2 down 5.7%, WTC down 1.5% and the All-Tech Index down 0.9%. In resources, it was bad but a rally into the close helped as RIO dropped 1.3% on lower commodity prices, FMG down 0.5% and BHP flat. Lithium and base metal stocks under pressure again, off lows at the close though PLS down 1.8%, MIN down 1.9% and IGO falling 2.4%. S32 a casualty too falling 4.2%. Oil and gas stocks eased as WDS fell 1.6%, STO down 1.5% and SOL off 1.6%, WHC down 1.3%. Gold miners fell led by NCM and NST with EVN down 2.2%. 
• In corporate news, BUB announced a new USA distribution deal rising 9.2%, TER rose 1.9% on a business update, HLS up 2.1% on a new substantial shareholder in John Wylie and BRG reaffirmed guidance rising 1.0%. In economic news, we had business turnover numbers from ABS and CPI from China showing the effects of lockdowns. Asian markets mixed again, Japan off 1.4%, China up 0.4% and HK down 0.3%.10-year yields 3.65% 

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