Market Updates

• The ASX 200 fell hard again after a rally was snuffed out early morning. The ASX 200 fell 124 points to 6941 (-1.8%) Resources tried to hold up in the big miners but threw in the towel with BHP down 1.6% and FMG down 2.8%. Gold miners fell with NCM down 0.6% despite AUD gold prices barely changing recently. Lithium stocks again in the shorters sights, PLS down 6.5% and MIN off 2.1%. Even oil and gas stocks saw selling again as WPL fell 2.1% and STO down 3.1%. Old King Coal not so merry, WHC off 2.8% and NHC down 3.3%. The tech wreck continues. CPU fell 2.0% with XRO results colouring the sector, after a fall of 11.6%. ALU tumbled 16.7%. SQ2 collapsed 17.6% as a big holder of crypto crapto. Other BNPL stocks falling away again as more regulation called for. The All-Tech Index was woeful down 6.6%. Industrials were weak, ALL down 3.9%, IEL down 9.2%, COL down 1.5% and TWE off 3.5%. REITs back on the nose., GMG down 3.0%, GPT down 4.4% and healthcare falling hard as CSL dropped 1.8%. Banks were the one oasis in the red desert with NAB and CBA gaining as cream rises to the top. CBA results cheered and drew buyers. The Big Bank Basket up to $181.92.
•  In corporate news, good results from ORI with the stock exploding 4.7% higher. RED up 5.8% on news of production from KOTH. CSL fell % on news that the Vifor deal may take longer. On the economic front, building approvals approved fell 18.5%. 
• Asian markets fell slightly. 10-year yields down a little.

Why not sign up for a free trial? Get access to expert insights and independent research and become a better investor.

US stocks gave up early gains as CPI came in hotter than expected. The Dow finished down 327 (-1%) points after being up 423, the Nasdaq underperformed, losing 3.2%. SPI Futures are down 35 (-0.5%) points, with CBA and XRO results out this morning. Catch up on the latest with Henry’s Breakfast Briefing.

• ASX 200 SPI Futures down 35 points.
• Dow falls another 327 points down 1.0% in volatile trade.
• Nasdaq drops 373 points (3.2%)
• S&P 500 falls 66 points (1.7%)
• US CPI comes in at 8.3%. Ahead of forecasts but off highs.
• Gold rallies 0.7%. Iron ore up 3%. Base metals better.
• Oil up 5%. 
• CBA results in focus.

Why not sign up for a free trial? Get access to expert insights and independent research and become a better investor.

•  The ASX 200 fights back to a slightly positive close, up 14 points to 7065 in a very dull day for a change. It was again a tale of two cities, Banks under pressure following the NAB dividend, falling % with the Big Bank Basket down to $181.69 (1.2%). CBA down 0.2% and ANZ down 1.5%. NAB ex dividend and some, falling 3.9%. MQG bounced slightly by 1.2% as insurers came under a little pressure. QBE down 1.1%, IAG down 1.3% and SUN setting 1.1%. ASX rallied 0.8% after pushing back its CHESS pieces, healthcare sector better with CSL up another 2.1% with SHL up 1.3% and RMD rising 2.0%. REITs improved slightly GMG up 1.4%, GPT up 1.9% and CHC up 1.3%. Industrials were mixed, TLS down 0.5%, TCL up 0.1%, REA down 1.8% but mostly the sector becalmed. Resources better in places, iron ore stocks better, BHP up 1.4% and FMG rallying 2.3%, MIN also better up 2.9%. Some stability returned to the lithium sector as PLS rose 3.6%, AKE up 2.7% and LYC up 3.9%. Oil and gas stocks mixed, WPL down 0.8% and STO up %, coal eased too. Tech stocks slid slightly with XRO down % and WTC down %. The All-Tech Index fell 0.4%. 
• In corporate news, CSR up 0.5% on its results, with trading revenue up 9%. GNC sold off 1% after numbers and LNK fell 15.1% on concerns about the bid with a ASX query revealing nothing new. Worries persist though. 
• In economic news, consumer sentiment fell again to the lowest level since August 2020 as rates rose. Asian markets, Japan rose 0.3%, China up 2.0% and HK up 1.7%. 10-year yields fell to 3.49% 

Why not sign up for a free trial? Get access to expert insights and independent research and become a better investor.

Stocks bounce back in the US ahead of the inflation number tonight. The Dow bounced off lows to finish down 0.3%, while the Nasdaq and the S&P both improved during the session. SPI Futures pointing to a muted day, down eight points as we hold our breath ahead of inflation. Get up to speed with Henry’s Breakfast Briefing.

• ASX 200 SPI Futures down 8 points.
• Dow falls 85 points (0.3%)
• Nasdaq up 114 points (1.0%)
• S&P500 up 10 (0.35%)
• Base metals stable. Nickel up 0.9% Tin falls 5%.
• Oil drops 3.3% Gold down 1%
• Iron ore down 1.3%

Why not sign up for a free trial? Get access to expert insights and independent research and become a better investor.

•  The ASX 200 rallied from extreme lows finding support at 7000 closing down only 70 points at 7051 (1.0%). A decent turnaround after falling over 170 points shortly after the opening. Good close too. Selective buying emerged in some tech stocks and industrials, WTC rallied 4.1% and XRO finding friends rising 4.2%. The All- Tech Index slightly positive despite a 8.5% fall in SQ2. CSL was better but other healthcare stocks remain under pressure with RHC down 2.0% as AustralianSuper pulled out of a KKR bid. Banks on the nose again with the Big Bank Basket down to $183.92 (0.6%). The Big four banks made $14bn combined cash profits in the first half, back to pre CV19 levels. NAB up 0.3% ahead of the ex div tomorrow and CBA off 0.9%. MQG steadied at lower levels down only 1.1% with insurers doing ok. QBE up 0.7%. Industrials mixed, TLS fell 1.3% with some bounces in REITs with GMG up 0.3%. Resources under pressure as was the AUD as China growth worries continue. BHP fell 2.6%, FMG off 2.7% and RIO down 3.6% with iron ore second liners like MGX down 3.1%. Gold miners fell, NCM down 3.6% and NST off 3.6%. S32 hit hard by 3.5% as were other base metal and lithium stocks but off lows, energy stocks fell with STO down 1.7% and WPL off 2.6%. Coal stocks too under pressure as WHC fell 1.8% and SMR down 2.4%. 
• In corporate news, PDL rose 8.1% on a very respectable set of numbers. IMU up 3.1% on moving to Phase II trials, AUB returned from its capital raise, ex entitlement and fell 9.9%, JLG got walloped down 16.6%, not sure of reason. 
• In economic news, retail sales were better than expected with cafes and restaurants in demand. Asian markets weaker with Japan down 0.5%, HK down 2.3% and China actually up 0.6%. 10-year yields steady at 3.55%. 

Why not sign up for a free trial? Get access to expert insights and independent research and become a better investor.

A rough session in the US, as the Dow never traded in positive territory and closed down 2%. The NASDAQ was the worst performer falling 4.3% as stagflation fears continue to weigh on markets. SPI Futures pointing to another day of losses down 99 points (-1.39%). Catch up on the latest with Henry’s Breakfast Briefing.

• ASX 200 SPI Futures down 99 (1.4%)
• Dow falls 654 points (2.0%)
• Nasdaq down 521 points to 11623 (4.3%)
• S&P 500 falls 132 points (3.2%)
• Base metals fall hard. Nickel down 6.4%
• Gold off 1.3% Oil slumps 5.7% on growth fears.
• Iron ore down 4.7%

Why not sign up for a free trial? Get access to expert insights and independent research and become a better investor.

• The ASX 200 has once again tumbled 85 points to 7121 (-1.2%) failing to find support as US futures pointed to another difficult week for equities. A slight rally into the close. Broad-based losses again with resources firmly in the seller’s sights today as a China proxy and the AUD testing 70c. BHP dropped 1.3%, FMG off 5.8% and RIO down 2.3% with gold miners hit too despite bullion being slightly stronger, NST down 3.8% and NCM down 1.6%. Lithium miners and speculative resource companies also sold off heavily, PLS down 6.2%, LTR down 8.7% and AKE falling 6.1%. Some big fallers in second liners like CHN down 9.8% and LKE off 11.5%. Oil and gas stocks tried to buck the trend and found some support with STO up 0.4% and WPL up 0.6%. Industrials are also under pressure across the board with REITs suffering, GMG falling 7.0% and SCG off 3.6%. Consumer stocks mixed with WES down 1.1% but COL up 0.6% and REA dipping 4.3%. NWS got whacked 8.8% post results.
• Tech under serious pressure again, the All-Tech Index dropped 3.1% and XRO testing new lows, down 2.6%, WTC off 4.9% and SQ2 down 6.2%. In the banking sector, a mixed session, WBC rose 3.2% on better than expected results, ANZ down 2.7% as it went ex-dividend, NAB up 0.2% ahead of its dividend tomorrow. MQG once again in trouble falling 2.6%. The Big Bank Basket up slightly to $184.97 Insurers eased. 
• In corporate news, MFG sold its GYG stake falling 8.4%, WBC results better than expected and SGR down 1.0% as VIP packages were suspended. Nothing on the economic front, some news from China showing the impact of Covid shutdowns. Asian markets slid with China down 0.9%, HK closed and Japan down 2.4%. 10-year bond yields pushed to 3.56%.

Not much to report on from the weekend with the central banks out of the way. SPI Futures pointing to another down day, down 51 points (-0.71%). Westpac Banking (WBC) results are out, mostly ahead of consensus. Catch up on the latest with Henry’s Breakfast Briefing.

• ASX 200 SPI Futures down 51  (0.7&)
• Dow down 99 (0.3%)
• Nasdaq down 173 (1.4%)
• S&P 500 down 24 (0.6%)
• Oil up 1.3% to US$112.39
• Gold up US$7.10 (0.4%)
• Iron ore down 4.7% to US$138.44
• Base metals under a little pressure.
• WBC Results.

Why not sign up for a free trial? Get access to expert insights and independent research and become a better investor.

•  The ASX 200 was whacked hard today falling 159 points to 7206 (2.2%). Selling from the open in all sectors as expected. Some small rally into the close. No where to hide although banks held up better and tech got hurt worse. The Big Bank Basket fell to $184.61 (1.2%) with NAB down 2.0% and MQG revealing great numbers but got smashed by 7.8%. Insurers held up slightly better with QBE off 0.3% and SUN down 1.2%. Healthcare slumped as CSL fell 2.9% with SHL off 1.5% and RHC falling 0.9%. REITS fell led by GMG down 4.7% and industrials also fell, QAN down 2.7%, SEK down 6.6% and NWS tumbling 7.8% on results, REA too down 8.1% on its results. 
• Tech was in a world of pain with XRO off 9.1% and CPU falling 2.7% with second liners plugged and abandoned. The All-Tech Index outdid the Nasdaq falling 4.8%. Resource stocks also in the firing line, iron ore fell slightly in Asian trade, BHP off 1.4%, RIO down 2.1% and FMG unchanged Even oil and gas stocks fell despite crude price rises, STO down 1.6% and WPL down 1.4%. Coal too took a break, SMR down 4.8% and WHC off 2.4%. Lithium stocks were depressed PLS off 3.5% and LYC down 3.2%. Base metal and gold stocks also sold off. Plenty of unwinding of risk. 
• In corporate news, NWS reported as did REA with MQG pretty much unchanged offering no guidance hurting sentiment. CRN responded to media speculation on merger activity. Asian stocks mixed, HK tech down hard, Japan better as inflation hits 1.9%. Locally we had RBA Statement of Monetary Policy (SOMP) and 10-year yields up to 3.45%. Ironically the US market has gone nowhere this week. Before tonight. NFP beckons. 

Why not sign up for a free trial? Get access to expert insights and independent research and become a better investor.

US markets fell hard from the start in a reversal of the previous session's gains. The Dow Jones fell over 3%, the NASDAQ down 5% and the S&P down more than 3.5%. SPI Futures pointing to a 1.5% loss today. Get up to speed with Henry's Breakfast Briefing.

• ASX 200 SPI Futures down 113 (1.5%)
• Dow falls 1063 points (3.15)
• Nasdaq down 647 (5%)
• S&P 500 down 153 (3.6%)
• Base metals fall slightly. Oil up 0.7%
• Gold rises 0.4%. Iron ore up 1.7%
• Macquarie results this morning.

Why not sign up for a free trial? Get access to expert insights and independent research and become a better investor.