Market Updates

The Dow finished down 638 points (-1.94%) in a late sell-off ahead of tonight’s key CPI print.

SPI Futures are indicating another down day for Australian markets, down 55 points (-0.78%) this morning. 

Get up to speed with Henry’s Breakfast Briefing.

• ASX 200 SPI Futures down 55 points
• Dow falls 638 points (1.9%)
• Nasdaq down 332 points (2.8%)
• S&P 500 down 98 (2.4%)
• Oil falls 0.4%. Gold down 0.2%
• Iron ore slips 1.4% Base metals ease.
• ECB moves to raise rates.
• US banks fall, miners fall overseas. 
• US CPI tonight.

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• ASX 200 fell another 101 points today to 7020 (-1.4%) as once again banks saw widespread selling and resources eased despite good numbers from China. The Big Bank Basket fell to $167.72 (2.6%). CBA down 2.6%, WBC down another 3.7%. MQG held up with a small loss, insurers were under a little pressure, QBE down 0.7% and MFG rose 2.2% on news of Hamish. Industrials were patchy with CSL up 0.3% and RHC up 0.6% with SHL off 1.7%, WES continued its slide down 1.0%, GMG down 1.7% and QAN falling 4.1% as it strains to cope with travel boom. Tech under pressure again with WTC down 3.1%, XRO off 2.6% and the All-Tech Index off 1.3%. BNPL stocks steadied at lower levels, ZIP flat and SQ2 up 0.2%. In resources, BHP fell 2.4%, RIO dropped 1.2% with base metals and lithium under a little pressure, PLS down 5.4% and AKE off 4.2%. Energy stocks mixed, WDS up another 1.9% with STO off 1.1% and coal stocks seeing some sellers as Chinese coal imports weaken on demand. 
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• In corporate news, JLG dropped 5.5% again despite reaffirming guidance, SYR fell 10.1% on a little trouble in Mozambique. In economic news, banks and economists racing to talk down property and the economy and rates rises to come. Meanwhile, in Asia, China slid a little as Shanghai is seeing some isolated lockdowns again, HK down 1.2% and Japan flat.

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The oil price narrative dominated headlines with Goldman forecasting prices of US$140 a barrel with fears of further inflation spooking the market had the Dow finishing down 269 (-0.89%). 

SPI Futures following leads from the US down 54 points (-0.76%). 

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

• ASX 200 SPI Futures down 54 points
• Dow down 269 points (0.8%)
• Nasdaq down 89 poimnts (0.7%)
• S&P 500 down 45 (1.1%)
• Base metals slightly higher.
• Oil up 2.5% Iron ore up 0.05%
• Gold up 0.2%
• Chinese data today. ECB tonight. US CPI Friday.

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• ASX 200 rises 25 points to 7121 (+0.4%) as the bifurcation continues. Banks in the doghouse on fears for growth, housing and NIM. The Big Bank Basket fell to $172.25 (-4.3%), now around 9% off its recent highs. WBC down 6.1%, CBA down 4.4% Other financials doing much better, MQG up 1.0%, QBE up 1.4% and SUN up 1.3%. MFG still fell another 4.3%, PTM up 0.9% on FUM numbers. Healthcare was also better led by CSL up 1.2% and RHC rallying 1.6%, Industrials saw some strength too, TCL up 1.4% as ALX attracts the attention of IFM, ALX up 16.2%, Consumer stocks better, COL up 1.2%, WOW up 1.0% but WES struggling down 0.7%. Tech stocks better as Nasdaq rallies, XRO, CPU up 1.6% and WTC rising 2.8%. The All-Tech Index up 1.4%. Resources kicked higher, iron ore stocks leading the charge, BHP up 2.3%, RIO up 2.0% and base metal stocks also doing well, S32 up 1.6% and IGO rallying 2.8%. Lithium flat, gold miners better with NCM up 1.1% and NST rising 2.3%. Energy stocks pushing hard, STO up 3.4%, WDS up 5.6% and coal stocks a little better with YAL up 7.8% on more news on a potential takeover. 
• In corporate news, BLD found a new CEO and rose 14.7%, ALX caught the eye of IFM rising 16.2% and PTM revealed its FUM dropped $209m. Nothing new on the economic front as banks rush to raise mortgage rates and pass-through RBA rate rise. Asian markets mixed Japan up 1.2% China down 0.1% and HK up 1.8%. 10-year yields ease to 3.54%.

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The Dow finished up 264 points (+0.80%) as US stocks climbed for a second consecutive session. SPI Futures are up 45 points (+0.63%) following a hawkish rate hike of 50 bps yesterday at the RBA meeting. 

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

• ASX 200 SPI Futures up 45 points.
• Dow up 264 (0.8%)
• Nasdaq up 114 (0.9%)
• S&P 500 up 39 points (1.0%)
• Oil up 0.9%. Gold up 0.5%
• Iron ore up 0.4% Base metals ease
• Uranium in focus

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•  ASX 200 dropped 111 points to 7096 (1.5%) after the RBA unexpectedly raised rates by 50bps. The market was already shaking on US futures losses as Banks fell hard but the momentum picked up after 2.30pm. The Big Bank Basket fell to $179.92 (2.5%). CBA off 2.6% and NAB down 3.3%. MQG slumped 3.0% with ASX down 3.2% as volumes continue to be low and deals are being pulled. Insurers slipped slightly. MFG rallied slightly after the drubbing yesterday up 2.1%. REITS fell hard as rates rose and 10-year yields rallied hard above 3.5%. GMG down 3.7% on consumer sentiment, SCG down 2.5% and SGP suffering a 3.6% fall. Healthcare was not spared either with CSL under pressure down 1.2% and RHC off 1.3% with FPH down 2.9%. Industrials slid and accelerated after the RBA move, WES down 3.9%, COL off 1.5% and TCL down 3.0%. ‘Old skool’ platform stocks fell hard too, REA down 4.2% SEK off 3.2% and CAR down 3.0%. Tech stocks falling hard with WTC off 5.3%, XRO down 5.0% and the All-Tech Index off 2.8%. BNPL stocks under pressure as Apple joins the BNPL game. ZIP comes undone by 14.3%, SZL off 5.2% and SPT down 12.0%. Resources tried valiantly to hold the line but big miners succumbed with BHP down 0.1%, FMG off 1.1% and gold miners off a little, NCM down 1.5%. Lithium stocks were relatively firm, PLS unchanged, CXO up 3.8%, AKE up 1.0%. Energy stocks drifted lower with STO down 1.2% and WHC off 0.6%. 
• In corporate news, YAL up 4.2% as it updated the market on the potential takeover bid, PRN rose 10.1% on a promising update and buy back announcement. SXE also rose 11.2% on a business update. 
• In economic news, it was all about the RBA as it raised rates by 0.5%. Big surprise and AUD heads higher. Consumer confidence fell 4.1% to 87. Japan up 0.1% China down 0.1% and HK down 0.5%. 

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• ASX 200 SPI Futures down 5 points.
• Dow up 16 points (0.05%)
• Nasdaq up 49 (0.4%)
• S&P 500 up 13 (0.3%)
• 10-year yields in US hit 3% again. Oil off 0.2%. Gold down 0.4%
• Iron ore at 10 month high up 0.6%
• Base metals better in LME trade after two days of holidays.
• RBA in focus today.

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•  ASX 200 drifts 33 points to 7206 (0.5%) lower in thin lacklustre trade ahead of RBA tomorrow. Banks slipped slightly with the Big Bank Basket down to $184.49 (0.5%). NAB launched a new $1bn hybrid falling 0.5%. MQG fell 0.6% and MFG got whacked 13.9% as FUM continues to slip. PTM joined in down 2.8% with GQG off 0.3%. Insurers flat as healthcare saw a gain in CSL of 0.7% with SHL under fire down 2.4%. Industrials were mixed, TCL fell 1.3%, WES rose 0.6%, WOW up 0.5% and TLS down 0.8%. Tech stocks slipped again following Nasdaq lower, WTC fell 2.3%, XRO off 1.5% and the All-Tech Index dropped 1.8%. Resources drifted lower too with no LME pricing to go over the last two session. UK back from celebrations today. BHP fell 0.9%, FMG down 0.3% and lithium stocks a little depressed, PLS down 0.8% and AKE off 1.8% on a production update. Energy stocks were a bright spot as oil hits US$120 on Saudi price rises to Asian customers. WDS kicked again up another 3.2% as the rerating continues. Coal stocks slightly higher, WHC up 0.7%. 
• In corporate news, TAH rose 5.3% as it settled with Racing QLD, MFG hit hard on FUM details, LNK fell 0.9% as ACCC delayed decision on takeover. 
• On the economic front, ANZ jobs ads today with a slight rise, MI Inflation gauge lifted 1.1% in May to be up 4.8% on a year ago. Asian markets better as China returns from holidays and 10-year yields steady at 3.49%. 

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US markets pulled back a touch on Friday night and SPI Futures were down 32 points at the Saturday morning close. Big week ahead with the RBA and ECB decisions. Catch up on all the latest with Henry's Breakfast Briefing.

• ASX 200 SPI futures down 32 points.
• Dow down 349 points (1.1%)
• Nasdaq down 304 (2.5%)
• S&P 500 down 68 (1.6%)
• US jobs number better than expectations. Headline rate unchanged at 3.6%
• LME closed for Jubilee Celebrations. Oil up 1.8%
• Iron ore up 1.6% Gold down 1.1%
• RBA in focus tomorrow.

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• ASX 200 rallied 63 points to 7239 (+0.9%). Resources were the stand outs today with iron ore stocks leading the charge, BHP up 2.5% and FMG rising 4.1%. Base metal stocks also rose with S32 up 2.0% and lithium stocks charging ahead on a bounce from Wednesday’s carnage. PLS rose 7.5%, INR up 16.5% and AKE up 3.8%. Gold miners were better too as bullion rose in USD with NCM up 1.4% and NST up 1.4%. Oil and gas a little mixed as WDS flat lined with STO up 0.8%, WOR up 4.4%. Industrials were mildly better with REITs drifting higher, GMG up 1.2% and SCG up 0.7%. Healthcare finished a little higher as CSL rose 0.1%, RMD up 2.6% and RHC off 0.2%. Tech better as the All-Tech Index rose 1.9% with WTC up 5.1% and XRO up 1.0%. Banks a little mixed with the Big Bank Basket $185.50. CBA down 0.2% and WBC up 0.3%. Insurers were under a little pressure as yields steady at 3.50%. 
• In corporate news, HLS fell 8.7% on a trading update citing headwinds etc, FFX dropped 63.7% as it went Ex-Bonus of the Leo Lithium stock. Asian markets subdued as China and HK closed.