Market Updates

Tech lead the way in the US while bond curves flattened. A tough session for the Dow Jones down 171 (-0.49%) barely touching positive territory but finishing well off lows. SPI Futures are pointing to a soft open down 64 (-0.9%) this morning, but the big focus for Australian markets today are results to come from BHP. Get up to speed on all the latest news with Henry’s Breakfast Briefing.

• ASX 200 SPI Futures down 64. Russia and inflation dominate.
• Dow down 0.49% off lows. Nasdaq unchanged.
• Oil up another 2.2% Gold up 1.5%
• Base metals slightly higher.
• BHP beats forecasts and US$150 div. Results focus.

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• The ASX 200 closed up 27 points at 7244 (0.4). Good result considering US moves on Friday. Gold was the place to be today as the bullion price broke higher on Ukraine concerns. EVN rose 7.9%, NCM up 4.3% and NST up 5.9%. Lithium stocks tumbled as the white powder is losing its allure for now. PLS down 5.6% and MIN off 3.8%. Iron ore stocks also easier with BHP down 1.1% with results due tomorrow. Dalian futures slid hurting the sector. Energy stocks also in demand as oil pushing towards US$100. STO up 4.0%, WPL up 3.6% and BPT up 9.4% on results. Banks were the other winners today as CBA rose 1.5% and WBC the star up 4.8%. The Big Bank Basket rose to $182.55 (2%). Healthcare in ICU as CSL fell 2.0% on US collection issues. FPH down 3.3% and COH down 0.7%. 
• Industrials firm but unspectacular, TLS up 1.0%, WES up 2.0% with COL up 1.1%. Tech mixed, WTC up 1.2% and XRO down 1.5%. 
• In corporate news, plenty of results, JBH up 5.4% on good online sales, CAR flat on its results and CWN up 2.0% as the board agrees to Blackstone bid. Nothing on the economic front today. Big week of results beckon. Asian markets ease on HK woes. Japan down 2.2%, China down 0.7% and HK off 1.3%.

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Happy Valentines Day!

The Russia/Ukraine situation will be headlining the coming week with the potential to derail markets on the back of the hot US CPI. This morning SPI Futures are down 33 points (-0.46%) with results from Carsales.com, JB Hi-Fi, and Bendigo Bank kicking off the week. Catch up on all the latest over the weekend and for the day ahead. 

• ASX 200 SPI Futures down 33 points.
• Dow falls 1.4% Nasdaq down 2.8% on Ukraine uncertainty.
• Base metals fall with copper down 3.%
• Oil up 3.3%. Gold firms.
• Iron ore down 2.3%.
• Results in focus - BEN GPT  CSL SPP results.

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The ASX 200 finishes the week down 71 points at 7217 (1.0%). Sloppy start and no real bounce on US falls after CPI. Finished weak too. Banks were mixed with CBA sagging slightly down 2.2% and the Big Bank Basket flat at $178.99. NAB getting more good press. MQG tried valiantly and failed to bounce after some days of losses as MFG fell 4.9% on a $5.5bn drop in FUM post Hamish stepping down. Insurers better with IAG results helping. Healthcare soggy with CSL still struggling down 2.1%, FPH down 4.1% and SHL off 1.8%. REITS also under pressure as 10-year yields once again pushed higher and higher. GMG fell 3.9%. Supply chain issues.
Industrials weaker across the board with a special mention to Tech which suffered from Nadsaq woes. SQ2 fell 6.7%, WTC off 3.4% and XRO heading south by 4.5%. The All-Tech Index dropped 3.0%. Iron ore miners though doing well as Asian futures up around 3% plus. BHP rose 1.2%, RIO up 2.9% and FMG doing well up 2.7%. MGX joining in the fun rising 10.3%. Elsewhere in the miners, things not quite so strong, PLS down 4.2%, MIN down 2.6% again and IGO off 1.9%. Oil stocks were firm but uninspiring.
In corporate news, a big surprise from BOC up 122.5% after a report the Panguna mine could be reopened after a landowners meeting. WES down 1.1% despite ACCC approval to go into the chemist business. Asian markets were surprisingly better, Japan up 0.4%, China up 0.3% and HK unchanged despite a big rise in CV19 cases.

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US stocks slipped overnight with inflation hitting 7.5%, traders now leaning toward 50bps Fed hike. US 10-year bond yields rose to their highest levels since August 2019. SPI Futures pointing to a tough day down 55 points (-0.77%) this morning. Catch up on all the latest news with Henry's Breakfast Briefing.

• ASX 200 SPI Futures down 55
• Dow falls 1.5% Nasdaq off 2.1%
• US inflation hits 7.5% highest since 1982
• Commodities firm.
• Oil eases. Gold slightly higher
• Iron ore up 4.8%
• Results the focus.

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•  The ASX 200 closes up 20 points to 7289 (0.3%). Strong start on NAB results evaporates as US CPI in focus. NAB results positive firing up the sector again with the Big Bank Basket up to $180.78 (1.7%). NAB rose 4.5%. MQG still under some pressure post result down 2.2%. MFG rallying a little despite platform woes. Insurers under pressure with QBE down 1.0% and SUN off 1.9%. Industrials flat with COL down 1.4% and WOW off 0.7%. Travel stocks mixed, QAN down 2.4% more flights more expensive fuel perhaps? WEB and FLT mixed. Tech stocks doing ok with SQ2 the stand-out up 9.7% as Block rallied in US. The All-Tech Index up 1.0%. 
• Miners were mixed BHP down 0.1% and FMG rising 4.0%. Lithium stocks firmed with PLS up 1.2% and MIN bouncing back 3.6%. Gold miners going nowhere and energy stocks losing some oomph with STO down 0.9% and WPL off 1.0%. 
• In corporate news, NAB was the stand-out with better than expected results. CIM dropped 7.1% on plenty of work but not plenty of profit. ASX lost 3.8% and a CEO for no reason. NST down 0.5% on its results. Not much on the economic front with US CPI tonight. Asian stocks Japan up 0.3% and China down 0.5%. 10-year yields steady at 2.09%

 
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The US stock rally gains steam with the Nasdaq up 296 points (+2.1%) overnight. SPI Futures are pointing towards another positive day for the ASX, up 41 points (+0.57%), but it’s all about results again today, so tune in to Henry’s Breakfast Briefing to catch up on the latest news. 

• ASX 200 SPI Futures up 41.
• US markets rally. Dow up 0.9%
• Nasdaq up 2.1%. 
• Oil firms. Gold rallies. Iron ore falls slightly.
• Base metals ease.
• NAB and many more results.

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•  The ASX 200 was buoyant today up 81 points to 7268 (1.1%). CBA results set the scene. $2bn buyback, $4.7bn cash profit and dividend 175c. Not bad, Stock up 5.6% dragging the other four banks higher. CBA was 26 index points alone. The Big Bank Basket rose to $177.75 (4.0%). Insurers rose but MQG gave back some gains falling 1.9% as brokers knocked the tallest poppy.
•  Industrials back in fashion as tech roared back. WTC up 4.8% CPU smashing it up 11.2% and XRO up 3.5%. The All-Tech Index climbed 3.8%. SQ2 missed out a little up only 1.4%. REA and SEK bounced back, WES better by 1.8%, GMG up 1.2%, TCL up 2.4% and SYD finished up today. It is no more. Healthcare mixed, CSL down 0.9% with other better, SHL up 2.2%, FPH up 2.4%. Mining stocks under pressure. Iron ore stocks feeling unloved as Chinese authorities talk down iron ore prices and speculation. BHP lost 1.7% and FMG down 3.6%. MIN tumbled on very disappointing results, other lithium stocks mixed, AKE up 2.8%, PLS up 1.8% and IGO up 1.7%. Energy stocks fell as oil came off the boil. WPL down0.9 % and STO off 1.3%. 
• In corporate news, BAP fell 7.9% after results and denied media speculation of a takeover approach, TPW started the year well and results cheered with the stock up 9.7%. DGL also doing well on results up 10.0% as were CPU and DDR. PPH updated the market on an insider trading investigation falling 3.4% and IEL fell 3.1% after results. Nothing on the economic front as we await US CPI. Asian markets better. 10-year yields steady around 2.09%. 

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US stocks resumed their rally overnight the Dow Jones finishing up 372 points (+1.06%). SPI Futures are pointing to a positive open up 18 points (+0.25%). CBA numbers this morning beat estimates while consumer dictionaries struggled with results season in full swing. Tune in to Henry's Breakfast Briefing to get up to speed on the latest news for the day.

• ASX 200 SPI Futures up 18
• CBA results beat estimates $2bn buyback.
• Dow rises 372 points (1.1%) Nasdaq up 179 Points (1.3%).
• Oil eases. Gold better.
• Iron ore pushing close to US$150.
• Commodities mixed.

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• The ASX 200 rallied hard today from the word go. The ASX 200 up 76 points to 7187 (1.1%). BHP was the stand-out up 3.7% as iron ore futures pushed higher on China stimulus hopes. BHP was 26 index points alone. FMG up 3.3% and RIO doing well up 2.2%. Other miners also recovering nicely, S32 up 1.0% and AWC up 1.5%. Oil and gas stocks modestly higher with WPL up 1.0%. Banks were the other big winners taking their cue from MQG up 3.9% on its record quarter and SUN up 5.5% on better numbers. ANZ saw some broker upgrades rising 1.5% and the Big Bank Basket up to $170.84. CSL bouncing 0.9% post the SPP finishing and dragging FPH higher and COH up 1.0%. Industrials a little more wishy washy with staples weaker, WOW off 1.6% and WES down 1.0%. TCL did well up 0.9% and REITS also better driven by positive results as GMG up 0.1% and SCP up 3.2% on good numbers. Tech under pressure as SQ2 fell 6.3% on the Block fall in the US, CPU also under pressure down 2.4%. The All-Tech Index fell 0.9%. 
• In corporate news, MQG breaking records, SUN cut dividend but beat estimates, NAN rejigged its GE deal and fell 4.8% and PBH had their first punter in Pennsylvania, falling 4.2%. Must have lost. 
• In economic news, business confidence fell slightly, and consumer confidence dropped below 100. 10-year yields smash through 2% to 2.09% as two-year yields rally hard too. Asian markets mixed, China down 2.1%, Japan up 0.3% and HK off 1.6%. 

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