Market Updates

• The ASX 200 put on another 44 points to 7294 (+0.6%). Big jump on the 4.10 pm match out with banks turning positive as potential ASX Index rebalancing gave us a nudge, 3.2% for the week. Today was all about a resource bounce with BHP up 1.3%, RIO up 1.6% and FMG up 2.2%. Base metals up S32 better by 1.5%, Lithium and rare earths kicking higher too with LYC up 3.7% and LTR up 7.8%. Gold miners missed out as AUD pushing up towards 74c. NCM down 0.8% but some gains elsewhere with DEG up 1.2%. Energy stock better as crude prices rallied another 2% plus in Asia. STO up 1.9% and YAL up 3.9%. Banks flat with the Big Bank Basket up to $188.74 (+0.1%) though MQG up 1.7%. MFG kicked again up 2.5%. 
• Industrials steady, travel stocks down with FLT down 2.6%, WEB off 1.05% and QAN down 0.4%. Healthcare staged a late rally with CSL up 0.1%, SHL up 1.2% and RMD off 0.2%. Tech was in demand but maybe some caution ahead of the weekend. WTC up 3.3%, SQ2 up 7.2% and Z1P up 1.6%. 
• Nothing really on the corporate front, except SGR falling 3.6% on the inquiry into its casino licence in Sydney. Nothing much on economic data either. Asia gave back some gains with HK down 2.4% China down 0.2% and Japan up 0.4%. 10-year yields pushing higher to 2.56%.

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US stocks post the best three day run since November 2020. The Dow finished near highs up 418 points (+1.23%). Oil is back above US$100 following three consecutive days of losses. SPI Futures are up 37 points (+0.51%). Get up to speed with Henry's Breakfast Briefing.

• ASX 200 SPI up 37
• Dow up 418 (1.2%) 
• Nasdaq up up 178 (1.3%)
• Gold pushes higher. Oil up 8.8%
• Iron ore up 1%.
• BoE raises rates by 25bps. BoJ to continue to stimulate.

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• The ASX 200 continues the rally up 76 points to 7215 (+1.0%) as tech stocks lead the charge higher. Bombed out and oversold tech stocks rallied hard after HK Tech and US Nasdaq gains. KGN up 12.0%, BET up 10.1% and PBH up 10.3% doing well as buyers return. BNPL stocks in focus as SQ2 bounces hard up 10.2%. The All-Tech Index rose 3.3%. WTC and XRO showing good gains. Banks were also strong with the Big Bank Basket up to $188.50 with MQG also up 1.1%. MFG up 6.6% continuing its run after the buyback was announced. Industrials firmed with CSL up 0.8%, ALL up 1.8% and REA better by 4.8%. Resources were better but not spectacular, BHP up 1.0%, FMG better by 4.3% and RIO up 1.4%. Lithium stocks in demand again, CXO up 3.9%, PLS rose 3.9% and MIN up 3.4%. Gold miners were ignored, energy stocks mixed. 
• In corporate news, POS returned with a government grant to build a new plant in WA, up 9.2%. 
• On the economic front, headline unemployment came in at 4% putting more pressure on the RBA to lift rates, shows what happens when immigration and international students are blocked. Asian markets firm again with Chinese tech stocks surging as authorities back the sector. HK up 5.8% Japan up 3.2% and China up 3.2%. 10-year bonds back to 2.52%.

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ASX 200 SPI Futures up 106
Dow up 519 (1.5%) Fed raises rates 25bps.
Nasdaq up 488 (3.8%).
Oil sells off 1.9%. Gold down 0.8%.
Base metals flat. Nickel reopens limit down.
AUD hits 73c.

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• ASX 200 SPI Futures up 41 points.
• Dow up 599 (1.8%). Nasdaq up 367 (2.9%).
• Base metals flat. Iron ore down 5.5%
• Oil falls 6.5%.China growth woes on CV19.
• FOMC meeting on Day Two.

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• The ASX 200 dropped 52 points to 7097 (0.7%) as bifurcation of banks and miners the focus. Commodity stocks under pressure across the board as China growth fears stalk the market. Iron ore stocks weaker as Dalian futures fall again, BHP down 4.2% and FMG off 4.9%. RIO off 3.9% following its bid for Turquoise Hill. Lithium and base metal stocks in the doghouse, PLS down 7.6%, IGO down 6.3% and S32 off 4.5%. Gold miners too under pressure, NCM fell 2.8%, NST down 2.7% and EVN weaker by 2.0%. Oil and gas stocks also falling as WTI dropped below US$100, WPL down 2.9% with STO giving up 4.1%. Across the valley in the banks, higher bond yields gave bank buyers more reasons to buy. The Big Bank Basket rose to $184.60 (1.3%). CBA up 1.8% and WBC out ahead of the pack. Insurers too doing well, QBE up 1.6% and SUN getting a double whammy hit up 2.8%. 
• Industrials mostly unchanged, CSL better by 0.2%, AMC up 2.9% as packaging inputs dropped back slightly. Tech mixed with SQ2 down another 5.2%, WTC down 2.9% and the All-Tech Index off slightly as CPU rallied 1.7% to save some face. 
• In corporate news, UWL returned from a trading halt after Morrison and Co have launched a takeover bid at 450c, rising 27.3%, HLS launched a $100m on market buy back. Asian markets weaker with Japan up 0.4%, China down 1.8% and HK off 3% again. 

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The Dow finished up one point in a volatile session that at best was up 451 and at worst down 126. Ukraine president Zelensky has expressed hope for a ceasefire after talks between Ukrainian and Russian officials failed to reach a conclusion. The ASX 200 is set for a soft open, with SPI Futures down 61 points (-0.85%). Get up to speed with Henry’s Breakfast Briefing.

• ASX 200 SPI Futures down 61
• Dow up 1 point. Nasdaq down 263 points (2.04%)
• Commodities sold off heavily. Iron ore  down 6.2%
• Gold down 0.8% Oil down 5.1%
• RBA Minutes today.

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• The ASX 200 jumped out of the blocks consolidating the gains and finishing up 86 points to 7149(1.2%). US futures optimism helping ahead of FOMC this week. Financials and industrials were the backbone, the Big Bank Basket rose to $182.19 (2.4%), MQG up 2.6% and insurers better with SUN up 3.2%. Higher bond yields driving financials.  MFG slipped again on FUM running out the door, down 1.4%. Healthcare was better, CSL up 2.6% and COH up 2.0%. In the industrials, TLS rose 1.6%, COL up 2.2% and WOW higher by 0.9%. REITs firm with tech mixed, SQ2 down 3.7% with CPU up 2.6% and the All-Tech Index up 1.1%. Miners were generally weaker, BHP off 0.7%, FMG down 1.0% and IGO falling 2.0% on delays to the WSA bid. WGX came back from suspension after a capital raise falling 12.70%. Oils eased back, STO down 0.3% and WPL off 0.2%. 
• In corporate news, ELD soared on a business update with a 11.00% gain to a near 12-year high. VRT rose 7.5% on an agreed bid for the company from Cap Vest at 825c. BOE fell 3.8% in half yearly results.  Asian markets mixed with HK under pressure on CV19 issues. 10 year yields up to 2.44%

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The Russia/Ukraine conflict could be nearing a conclusion with both sides saying that progress has been made. The Dow was down 230 points on Friday night, with the focus of markets shifting towards the FOMC meeting this week. SPI Futures are up 20 points (+0.28%) this morning. Catch up on the latest news with Henry’s Breakfast Briefing.

• ASX 200 Futures up 20 points.
• Dow down 230 (0.7%). Nasdaq down 286 (2.2%)
• Metals mixed. Nickel still closed.
• Oil up 3%. Gold down 0.8%
• FOMC meeting the focus this week. Tentative start in store.

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• The ASX 200 dropped 67 points to 7064 (0.9%) after a worse expected start was ambushed by Asian weakness. Moves by US SEC to withdrawal listing for some Chinese techs saw HK and China fall heavily dragging ASX 200 with it. Banks eased back as bond yields charged ahead again with the Big Bank Basket steady at $177.84. MQG fell 1.8%, ASX down 1.7% and MFG down 6.8%. 
• Healthcare eased with CSL down 2.5%, SHL off 2.1% and RMD off 1.7%. Industrials slid as WES fell 1.9%, GMG dropped 2.9%, ALL down 3.8% and platform stocks like REA fell 5.0%. Tech stocks also fell with WTC down 4.1%, XRO off 5.9% and SQ2 down 3.2%. The All-Tech Index down 3.1%. Resource stocks held firm, lithium was especially firm PLS up 1.1%, CXO up 11.9% and AKE better by 4.9%. Iron ore giants steady and gold stocks slipping, NCM down 0.6% and BHP losing 0.1%, RIO and FMG better though. Oil and gas stocks firmed despite crude falling, STO flat, WPL up 1.0%. 
• In corporate news, BRG has bought a coffee machine company, down 2.7%, CVN up 10.5% in drilling progress.
•  Nothing on the economic front as we await the Fed next week. Asian markets fell and 10-year yields up to 2.39% as governor Lowe talks higher rates may be ‘plausible’. 

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