Market Updates

A choppy session for the US saw the Dow finish almost unchanged up one point. SPI Futures are down 11 points (-0.16%) this morning, but results from MQG today might help push the market into positive territory. Catch up on everything you need to know this morning with Henry’s Breakfast Briefing. 

• ASX 200 SPI Futures down 11 MQG record quarter. SUN cuts dividend.
• Dow up 1 as late sell off hits. Nasdaq falls 82 points (0.6%) as Meta falls again.
• Commodities slightly better. Iron ore up 1.9%.
• Gold up 0.8%. Oil eases back 0.6%
• Results will dominate today.

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• 1.7The ASX 200 fought back from over 60 down to close down only 9 points at 7111 (0.13%). Miners were the star attraction as China returned from LNY. BHP rose 1.2% with FMG also doing well up 0.9% and base metal stocks pushing higher, ILU up 4.5% and S32 rallying 1.0%. Gold miners not doing much with energy better STO up 1.6% and WPL up 1.9%. Coal stocks also doing well with CRN up 7.6% with PDN up 1.4%. Banks were weaker after ANZ Q1 results, WBC up 0.2% building on last weeks update. CBA flat and NAB down 1.2%. The Big Bank Basket flat at $169.70 (0.5%). Healthcare under pressure as CSL pricing period coming to an end. The stock finishing down 1.6%, FPH off 1.7% and SHL falling 1.1%.
•  Industrials mixed with staples slipping but travel stocks doing well as we finally allow double vaccinated visitors into Australia from Feb 21st. Tech stocks were mixed following Nasdaq gains, XRO up 0.5% and SQ2 up 3.1%. The All-Tech Index fell 0.2%. 
• In corporate news, ANZ Q1 disappointed with the stock falling % on NIM pressures, GNC knocked the lights out with bumper crop talk rising 12.3% and CTT rose 21.8% as it signed a deal with JD.Com. MFG fell 11.2% after Hamish stepped down for personal reasons, Chris Mackay taking the reins. JHX showed us the strength of the US market with results rising 2.0%. In economic news, retail sales out today up 4.4% but job ads ease. Asian market back on stream after LNY with China up 1.7% and HK down 0.3%. Japan down 0.8%. 10-year yields close to 2%. 

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The ASX 200 is set to open lower with the SPI Futures down 41 points this morning. US jobs numbers dominated the weekend news with better-than-expected non-farm payrolls for January. Results will headline Australian markets this week with ANZ, JHX, CPU and SCP reporting today.

• ASX 200 SPI Futures down 41.
• Dow falls 21 (o.06%) Nasdaq up 219 (1.6%)
• Oil up 2.4% Gold slightly higher.
• Commodities firm. 
• US jobs data beats expectation by a mile. Increased pressure on the Fed.
• ANZ Q1 and JHX ups guidance. GNC looking good on bumper crop.

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•  The ASX 200 shrugged off the latest tech wreck from Meta and focused on Amazon and the better futures finishing up 42 points to 7120 (0.6%). A relatively quiet day until a massive late surge on the match out as we await the US jobs number and start to digest the results in more detail. Banks were mixed with WBC up on broker comments and the big bank basket kicked higher to $170.62 (0.7%). MQG bounced 1.5% ahead of numbers next week though limited recovery in the wealth managers. JHG numbers not moving he dial much, falling 0.8%. Miners were mixed as BHP fell 0.5% and FMG rose 1.0% with lithium stocks turning positive late. S32 up 3.3% the stand-out. Energy doing ok on oil prices but muted, STO up 1.0% and WPL up1.1 %. 
• Industrials were flat and CSL finishing the SPP pricing period rising 0.5%. Last day Monday and then it closes. ALL rose 0.8% as the Playtech deal came up lemons, SEK down 3.8% and QAN rising 4.9% as Joyce talked WA closures. 
• In corporate news, NWS shot the lights out with good results up 5.7% and REA delivered but fell slightly down 0.4%. BLD fell 2.1% after the price was adjusted for the capital return. The RBA releases the SoMP today, the statement of monetary policy and was greeted with a bit a bounce in 10-year yields up to 1.96%. 
• Asian market starting to come back online with HK the standout. Winter Olympics opens tonight. 150k jobs in January the US number to watch 3.9% the headline rate. 

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US markets stumbled overnight on the back of Meta's 25% fall. SPI Futures are down 78 points (-1.12%) this morning, but some good results for Amazon, Pinterest and Snap might steady the market. Catch up on today's news with Henry's Breakfast Briefing.

• ASX 200 SPI futures down 78 points. 
• Dow falls 1.45%. Nasdaq down 3.7%. Meta down 26%
• Amazon up strongly after hours on results. 
• Commodities steady. Oil better up 1.8%
• Gold eases and iron ore slightly higher 
• BoE raise rates. ECB says risks to the upside on inflation.
• NWS results.

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• The ASX 200 down modestly by 10 points to 7072 (-0.14%). Tech stocks got pummelled following the Facebook fiasco. Should never have changed its name. Meta got thumped after hours and the US tech sector futures led ours lower. SQ2 flopped 9.8%, WTC down 8.0% and XRO off 5.0%. The All Tech Index dropped 4.3%. Heavy losses across the sector. Industrials went nowhere, CSL gave back some strength falling 1.9% as the VWAP pricing period enters the final days. 
• Banks were mixed after WBC Q1 update, the surprise was no surprises. NIM under pressure but some restructuring and soothing words on cost-cutting was enough to satisfy the bulls. The stock rallied 2.3% as CBA came under a little pressure falling 1.4% ahead of its results. MQG dropped 1.5% with insurers doing ok. Some fund managers doing it tough today, MFG dropped 7.5% as Hamish fronted a conference wearing his hair shirt. The falling Meta not helping his cause as MFG are big holders. AEF also on the nose falling another 7.5% and HUB down 7.8%. Miners supplied some strength as iron ore plays continued to find buyers, BHP up 3.1% and RIO rallying 2.4%, FMG up 3.3%. Lithium stocks eased back again as risk appetite waned. Energy mixed.
•  In corporate news, NCK rose 1.0% on a business update, CTT crashed 21.2% on a dip into the red on increased sales of $1000 shirts. NUF showed strength in the Ag space rising 1.0% on an update and OPH 3.8% higher on an investor update. SYD say yes to takeover. On the economic front, Building approvals for December rose 8.2% well ahead of forecasts of a 1% fall.

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US stocks were up overnight, with early weakness overcome in a late rally into the close. SPI Futures are up seven points (+0.10%). US results season is in full swing, with some mixed results coming through for big US tech companies. Catch up on the latest news with Henry's Breakfast Briefing.

• ASX 200 SPI Futures up 7 points.
• Dow up 224 (0.6%) NASDAQ up 72 (0.5%).
• US futures 
• Meta craters 21% after hours. 
• Spotify down heavily after hours. 
• PayPal hammered 24.6%
• Commodities slightly firmer. Oil up 0.3% Gold up 0.5%
• WBC numbers out early. Look ok.

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• The ASX 200 jumped out of the blocks and held up 82 points to 7088 (+1.2%). The US results helping sentiment after hours. RBA takes rate rise off the table and Lowe knows how much a litre of milk costs. The two driving sectors today were the banks with the Big Bank Basket up to $170.10 (0.95%) ahead of WBC update tomorrow. CBA up 0.9% and MQG doing well up 2.0%. Insurers also in favour with QBE up 3.1% and money managers doing well. MFG up 2.5% and PDL rising 0.6%. The other big winners were the iron ore miners as Port Hedland gets an upgrade with no price action in Asia, BHP rose 1.6% and RIO up 2.3% despite recent culture report. FMG rose 2.5% and base metals and energy chipped in too. PLS up 4.6%, MIN up 2.2% and STO rising 2.9%. 
• Industrials were firm although pockets of red. SQ2 fell 5.6% despite Block pushing higher in normal trade before falling after hours in sympathy with PayPal. The All-Tech Index rose slightly up 0.7%. CPU is now the biggest holding at 10% in the index. CPU up 4.6%. 
• In corporate news, AMC first big cab off the rank. Struggled as cost pressures highlighted down 3.5% on results. BET had a great rebound on news of how the Tom Waterhouse collaboration is going, closing up 14.8%. BRN rallied another 6.3% on a US patent and GMA did well on an update up 4.0%. On the economic front, Phil Lowe was talking rates and rises at the Press Club. No surprises. Patience is the mantra. US futures doing better on after hour tech results. 10-year yield steady at 1.90% AUD steady at 71.33c on Lowe.

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The ASX 200 is set for another positive open, with SPI Futures up 55 points. US stocks continued to rally overnight as some big company results begin to filter through in the US results season. Get up to speed on the latest news with Henry’s Breakfast Briefing. 

• ASX 200 SPI Futures up 55.
• Dow up 273 (0.8%) Nasdaq up 0.8%. Results after hours positive.
• Alphabet stock split and beats forecasts. Up 7.8%
• PayPal falls 17% on results. Block down 5% after hours.
• Commodities better. Oil steady ahead of OPEC.
• Gold up 0.3% AUD 71.30c as USD falls.

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• The ASX 200 rallied up 34 points to 7006 (0.5%) post RBA announcement as it seems the central bank is in no hurry to raise rates. QE is dead. The meeting saw inflation revised higher but still too early to conclude whether it is nothing more than short term supply chain issues. The board is prepared to be patient. Enough to bring the buyers back. Although enthusiasm faded at close. Banks found support with the Big Bank Basket rising to $168.50. MQG also doing well and insurers enjoying a good day out at the beach. QBE up 2.3% and SUN up 1.6%. Money managers were also in demand, GQG rose 4.4% and MFG up 4.6%. Industrials firm but unspectacular, CSL up 0.5% RMD rising 2.3% and ALL up 1.4%. Consumer stocks modestly higher with tech the standout as SQ2 went hard up 6.1 as Block rallied in US. Z1P tried hard to hold double digit gains but succumbed eventually rising %. XRO up % and the All-Tech Index up 2.2%. Miners were in the doldrums as index rebalancing continued and BHP sagged 3.1% after holding up so well in the rout, money is now moving out of havens into growth tech. RIO down 2.4% and FMG off 0.7%. Lithium stocks stirring but need a push, PLS up 1.9% and MIN up 3.6%. Energy stocks better but still a little unloved all thing considered. Gold miners mixed. 
• In corporate news, Kerry Stokes will be happy at BLD will be paying a large $3bn distribution from its ill-fated US adventure. The market seems happy with its failure and sale of assets. ABB warned on rising costs but appears to have convinced the market that all is still well only off 1.4%. 
• Plenty happening on the economic front. RBA is playing a long game and doesn’t want to spook the horses, PM is talking LNP achievements in short speech and house prices continue to rise but peak looks in for the moment. 10-year yields down to 1.89%.

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