Market Updates

• The ASX 200 limped 19 points higher to 7406 (0.3%) in quiet trade. Materials were once again the star sector. BHP up 1.0%, FMG up 1.7% and base metals too better, S32 up 0.4% and IGO better by 3.5%. Gold miners also in demand, NCM up 3.5% and RED up 5.5%. Lithium stocks firmed again, PLS up 3.2% and LTR up 2.7%. Oil stocks slightly positive, STO up 0.6% with coal stocks doing well, YAL up 1.7% and CRN better by 9.5%. In the banks, a slightly softer day, CBA down 1.3% and the Big Bank Basket down to $188.94 (1%). MQG bounced back 0.7% and GQG up 3.4%. 
• Industrials were firm, CWN up 0.6%, ALL up 0.9% and BXB up 1.6%. REITs firm, Tech weaker, SQ2 down 3.1%, XRO up 1.6% and CPU up 1% with the All-Tech Index down 0.4%. 
• In corporate news, FFX rose 5.6% after a resource upgrade, did JCap know? The MD of CXO resigned and PMV fell 1.6% after a good sales result and increased dividend. Nothing on the economic front ahead of the budget next week. Asian markets slightly weaker with Japan down 0.3% with China down 0.9% and HK down 1.6%

• ASX 200 SPI Futures up 38 points.
• Dow rose 349 points (1.02%)
• Nasdaq up 269 points (1.93%)
• S&P 500 up 64 (1.43%) US 10 year yields 2.3699%
• Gold up 1.3% Oil eases 2.1%
• Iron ore flat. Nickel up 15%.

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

• The ASX 200 had a quiet day bucking the downdraft from US markets rising nine points to 7387 (+0.1%). It was a tale of two sectors, banks down, resources up. The banks weakened ever so slightly despite another $2.5bn buyback from NAB, CBA down 0.1%, ANZ off 0.6% and the Big Bank Basket down to $190.75. MQG down a little, off 1.7% and insurers flat. Healthcare slid with CSL flat, RMD copping a downgrade off 4.2% and FPH down 3.5% after broker downgrades following guidance. Industrials sideways today, WES fell 0.4%, JHX down 3.4% as US housing slipping in latest numbers. Tech stocks fell with SQ2 down 2.3%, WTC down 0.1% and XRO off 0.2%. The All-Tech Index down 0.8%. Resources doing ok, BHP up 1.8%, RIO up 2.0% and MGX up 8.1%. Lithium took a break, S32 better by 1.0% and BKY smashing it up 21.7% chasing the Spanish listing higher. Energy stocks as expected better, STO up 1.5%, WPL up 2.8% and WHC up 6.5%. In corporate news, JBH rose 4.3% after another set of good numbers, bulletproof it seems. BKW up 5.0% after record numbers and raising prices, and UWL back and down 0.6% despite Macquarie and PSP circling. CWN looks to have clung on to its Perth licence, just up 0.2% on the news. Asian markets slightly weaker with Japan down 0.5% with China down 0.7% and HK up 0.2%. 10-year yields at 2.73%

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

• ASX SPI Futures down 54 points to 7295
• Dow falls 449 points (1.3%) 
• Nasdaq down 186 Points (1.3%)
• Oil rallies 5% plus. Gold up 0.8%
• Iron ore up 0.3%. Nickel up 14%.

AUD at highest in four months around 75c. Yields pull back from highs.
Why not sign up for a free trial? Get access to expert insights and independent research and become a better investor.

• The ASX 200 moved up another 37 points to 7378(0.5%) today as banks burst higher as yields continue to move up. 10-year yields hit 2.82% at one stage and the Big Bank Basket rose to $190.85(1.1%) with CBA up 1.3% and NAB up 1.6% as brokers focus on buy back potential in May results. MQG kicked 1.3% higher but ASX lost 1.6% as CHESS issues abound. Insurers flat. Healthcare better with CSL up 0.8% and SHL up 1.7%, FPH fell 7.9% on a profit downgrade on freight cost increases, RMD down 3.0% on similar worries. Industrials were slightly higher with GMG up 1.3%, WES up 0.3% and REA up 1.0%. Tech doing well today, bombed out shorted stocks like KGN up 7.3% and PBH better by 8.3%. WTC rose 2.1% and SQ2 up another 7.5%. CTT crashed 13.2% lower as the founder sold a near 10% stake at depressed prices. The All-Tech Index up 2.3%. Lithium stocks again on the move and battery tech joining in, SYA up 13.5%, SYR up 6.8% and PLS up 3.7% with LTR approaching 200c. UWL went into a trading halt on huge volumes with Macquarie set to emerge with a 500c bid with PSP in tow. 
• In more corporate news, KMD rose slightly on a profit downgrade. CVN rallied strongly up 14.1% on its drill results from Pavo-1 and CXL was rocket emojis all the way on FID on its LEILAC decision, closing up 15.7%. 10-year yields up to 2.78%, off highs. Asian markets better with Japan up 2.7% and HK up 1.7% with China missing the memo and flat. 

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

Strong night for US stocks as the Dow finished up 254 points (+0.74%) and never traded in negative territory. A big session for US tech stocks which are back in fashion, with most of the big names gaining more than 2%. Tesla added 7% as its market cap topped US$1 trillion. SPI Futures are up 31 points (+0.42%) following leads from the US. Catch up on the latest with Henry’s Breakfast Briefing.

• ASX 200 SPI Futures up 31 points to 7343.
• Dow rises 254 points to 34807 (0.7%)
• Nasdaq up 270 to 14109 (1.95%).
• US 10 year bond yields 2.386%
• Tesla up 7.9% as Musk opens German factory.
• Oil steady at $115.48. Gold down 0.4%.
• Metals flat. Iron ore down 1.2%

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

• The ASX 200 jumped another 63 points to 7356 (+1.0%) as commodity and energy stocks led the charge. Well off highs of nearly 100 points up. Miners leading the way, BHP up 5.1% accounting for 35 points alone. RIO up 3% and FMG up 1.2% joined in with lithium and base metal stocks in demand. PLS up 4.5% and MIN up 4.9%. S32 put in another good day up 3.1% with gold miners also in demand despite no bullion movement, NCM up 2.8% and NST rallying 1.9%. Energy stocks in demand, oil up again in Asian trade, STO up 2.2%, WPL up 1.6% and YAL doing well rising 3.0%. NHC ran 8.5% better on news of a special dividend and increased interim as higher coal prices turbo charging results. Banks were the other movers and shakers with the Big Bank Basket up to $188.59 (+0.45%), CBA up 0.4% and NAB up 1.1% as 10-year bond yields soared to 2.72%. MQG up 1.3% on a broker upgrade and Insurers better too, QBE up 2.5%. Industrials missed the fun with healthcare up flat with CSL down 0.6% and RHC up 1.3% after an approach for its Asian business.  Tech slightly sloppy, SQ2 down 5.1% taking Z1P down 4.1% and XRO down 2.6%. The All-Tech Index fell 0.9%. 
• In corporate news, BLD fell 3.5% after an update on heavy rain recently. In economic news, ANZ Consumer confidence fell 4.8% last week as fuel price rises hit. Asian markets skipped higher in Japan by 1.2% and HK by 1.2% with China up slightly.

The Dow fell 202 points (-0.58%) overnight, with Powell saying the Fed will raise rates more aggressively if needed. SPI Futures are up 80 points (+1.1%) perhaps optimistic on the back of US markets and Powell’s comments. Get up to speed with Henry’s Breakfast Briefing.

• ASX 200 SPI Futures up 80
• Dow falls 202 (0.6%) as Boeing falls on Chinese plane tragedy.
• Nasdaq down 55 (0.4%) S&P 500 unchanged.
• Oil surges 7%. Gold slightly higher.
• Nickel limit down but commodity stocks doing well.
• S&P Metals and Mining Index highest since august 2011.

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

• The ASX 200 closed down 16 points at 7279 (-0.22%) as early exuberance evaporated. We turned negative having been up near 60 points. Banks were the swing factor as the Big Bank Basket fell to $187.73 (-0.53%). NAB eased back 1.0%, SUN down 2.2% and MFG fell 4.3% after Hamish resigned from the board. MQG was a pinprick of green, up 0.1%. Healthcare also weaker with CSL off 1.5% as the AUD rose. Industrials mixed with WES better up 0.7% and TCL down 2.4%. Commodity stocks were firm with the exception of gold miners, NCM down 2.7% and NST off 2.4%. Iron ore stocks in demand, BHP up 0.4%, FMG up 0.8% and MGX better by 7.0%. Base metal stocks also finding buyers, S32 up 1.2% and IGO up 1.7%. Lithium stocks soared again despite moves from China to rein in prices, INR up 3.8%, LTR up 5.42% and CXO running another 9.8% higher. Oil and gas better with STO up 1.1% and WPL up 0.9%. Tech followed SQ2 higher by 9.2% with TYR rallying another 2.3%, XRO up 2.4% and 360 doing very well. The All-Tech Index rose 1.1%. 
• In corporate news, QUB announced a $400m buyback, API WES scheme approved by the court, and IMM up 7.6% on FDA approvals of its immune checkpoint. Nothing on the economic front. Asian markets mixed, Japan closed for a holiday, China down 0.1%, HK off 0.1%. Oil up 3.3% in Asia. 10-Year Yield: Steady at 2.56%.

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

SPI Futures are pointing to a 59-point gain, following the ASX 200's best week in more than a year last week, with a 3.3% gain. The Russia/Ukraine war continues to headline news, and Hong Kong plans to review its COVID restrictions as cases ease. Catch up on the latest news with Henry’s Breakfast Briefing.

• ASX 200 SPI Futures up 59 points.
• Dow up 274 points (0.8%)
• nasdaq up 279 points (2.05%)
• Base metals slightly fimer. Nickel limit down 12%
• Oil up 0.7% Iron ore up 3%
• AUD hits 74c.

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