Market Updates

• The ASX 200 kicked 23 points higher in an afternoon rally closing at 7417 (0.3%). US markets closed tonight for Martin Luther King Day. Banks rose led by CBA up 0.3% and the Big Bank Basket up to $180.80. MQG strong again and fund managers doing well with MFG up 4.2%, PDL bouncing back 7.8% and PPS up 4.2%. Healthcare better with CSL up 0.8% and COH up 1.5%. Industrials too in demand after WES guidance in line with market forecasts, WES rose 2.6% and ALL up 2.5% with TLS pushing ahead again up 0.7%. Miners were slightly on the nose despite Chinese GDP coming in better than expected at 4% in the last quarter. BHP down 1.1% and FMG off 2.8%. 
• Lithium stocks look to be topping out with PLS up 1.1% and MIN down 1.0 % with energy stocks in demand, STO up 1.0% and WPL up 1.7%. Gold miners slipped slightly with NCM off 1.2% and NST falling 2.2%. Tech better but about time, the All-Tech Index up 0.7%. 
• In corporate news, WES talked the impacts of omicron on staffing and foot traffic PDL revealed a new chair, AEF updated FUM with a small rise and PGL quarterly report helped it move 13.8% higher. In economic news, dwelling approvals rose 3.6%. Asian markets better in the main. 10-year bonds on the move again with a 6bps rise to 1.91%. US markets closed for Martin Luther King Day tonight.

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US markets finished weaker on Friday night and SPI Futures were down 28 points at the Saturday morning close. Get up to speed with Henry's Breakfast Briefing. 

ASX 200 SPI Futures up 28.
Dow falls 202 (0.6%) Nasdaq up (0.6%).
US Reporting season continues.
Oil sprints 2.9% ahead. Gold flat.
Base metals mixed. Iron ore down.
 

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• The ASX 200 stumbled 81 points lower to 7394 (1.1%) on weak overseas leads and tech under pressure here. Banks took flight with the Big Bank Basket down to $180.07 (1%) led lower by CBA down 1.2%, NAB down 0.6% and MQG down 1.0%. Insurers also eased with QBE down 1.0% and PDL down heavily on disappointing FUM numbers falling 15.8%. Healthcare slipped as CSL fell 2.0% SHL down 1.2% though RMD rose strongly up 3.6%. Industrials were weak across the board. WES fell 2.1%, GMG down 1.9%, WOW down 2.9% and REH off 2.5%. 
• Tech in trouble, APT in allsorts as Block fell in the US, APT down 9.2% and XRO down 5.1%. The All-Tech Index fell 2.6%. Not a fun place to be. Meanwhile in resources, a breather today in lithium stocks and iron ore, BHP down 0.4%, RIO off 1.0% and PLS down 0.3%. Gold miners in demand NST up 1.1% and EVN up 0.3%. Energy stocks fell, STO down 1.4% and WPL off 0.3%. 
• In corporate news, BRN had another good day following an announcement on funding from its put arrangements, well off highs though up 7.1%. In economic news, new job ads fell 3.2% on SEEK. Asian markets were weaker and 10-year yields were steady at 1.85%.

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• ASX 200 SPI Futures down 38 points.
• US markets under pressure. Dow down 0.5% Nasdaq down 2.5%
• Commodities mixed. Iron ore off 2.8% 
• Gold down 0.6% Oil down 1%

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• The ASX 200 moved up 36 points to 7474 vas enthusiasm waned slightly. Resources were once again the place to be as iron ore hit a 3-month high and lithium stocks surged yet further ahead. BHP moved 3.8% ahead of the crucial vote next week, RIO up 4.1% and FMG up 2.5%. In the white powder stocks, PLS rose 4.2%, MIN up 3.0% as a double whammy winner and IGO rose 3.8%. Base metal stocks also in demand and energy stocks better with WPL up 2.3% and STO moving 1.6% higher. 
• Gold miners were slightly weaker as NST fell 0.7% and NCM down 0.2%. Elsewhere the banks were firm but uninspiring as CBA rose 0.5% ahead of US bank reports. ANZ up 1.3% and the Big Bank Basket up to $181.82 (0.7%). Healthcare under the pump with CSL down 0.5% and SHL slipping 5.6%, industrials mixed, WES down 2.8% and TLS up 1.0%. Tech off led by APT down 1.3% and XRO off 1.7% as Nasdaq futures turned slightly lower. 
• In corporate news, BWX fell hard down 15.1% on management changes, AXE pushed ahead 32.0% on some positive wafer news, CWN was the big story as Blackstone upped its bid to 1310c and the stock rose 8.8% although still trading below the bid. 
• Nothing on the economic front today although more evidence of inflation as cattle slaughters significantly down on last season’s numbers. 10-year yields steady around 1.84%. In Asia, major markets lipped as Japan fell 0.9% and China off 0.6%.

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• ASX 200 SPI Futures down 3.
• US markets unphased by CPI at 7%. 
• Dow up 0.1% Nasdaq up 0.2%.
• Commodities kick again. Copper and nickel stand outs.
• Iron ore above US$130 up 2.3%. Oil better by 1.1%.

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• The ASX rose 49 points to 7439 (0.7%). Some caution crept in ahead of US data. Banks were flat with the Big Bank Basket at $180.52. MQG bounced back from recent losses up 1.6%, ASX rose 1.9% though MFG eased 1.9%. Healthcare was mixed, CSL rose 1.9% but SHL down 0.9%.
•  Industrials slightly better with WES up 0.6%, TLS up 2.0% and TPG up strongly by 5.0% on a broker upgrade. Tech slightly firmer led by APT up 4.8% as Block cheered on Spanish clearance. 
• Resources were again the focal point. Iron ore miners firmed again as Asian iron ore prices rose, BHP up 1.1% with the vote on the DLC next week and possible radical index changes concentrated in one day. FMG slipped 1.1% on a broker downgrade, RIO rose 0.9% and lithium stocks were again in heaven, PLS up 1.7% and AKE up 4.2%. CXO has another good day up 13.7%. Even NMT went hard up 13.8%. Energy stocks also in demand as oil heads higher, KAR up 3.5% and STO up 3.6%. 
• Gold miners also doing well, DEG up 3.6% and NCM rose 2.3%. 
• In corporate news, LTR rose 5.2% after an offtake agreement with LG. Job vacancies rose again and Chinese CPI came in below estimates. 10-year yields eased again to 1.85%.

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• ASX 200 SPI Futures up 63.
• US markets rally hard on Fed chief comments on interest rates. 
• Dow up 183 Nasdaq up 211. 
• Oil up 3.5%. Nickel at 7 year high. 
• Iron ore up 2.5% Gold up 1.3%

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• The ASX 200 slips 57 points to 7390(0.8%) as banks stumble lower. The Big Bank Basket fell to $180.67 down 1.2%. CBA led the rout with a loss of 1.5%. WBC fell 0.7% and MQG dropped 1.4%. MFG bucked the trend with a small gain of 2.7%. Insurers dropped with QBE down 1.3% as 10-year yields eased back to 1.89%. Healthcare also fell led lower by CSL down 0.7% and SHL off 0.6%. 
• Industrials too succumbed to the selling pressure, COL down 2.5%, WOW down 2.1% and WES off 1.4%. TLS fell 1.0% and REITS on the nose despite some relief on yields. Tech held firm just but sense that the selling will kick back in, APT up 1.7% though XRO fell 1.0% and WTC falling 0.7%. The All-Tech Index down 0.7%. Mining stocks still the place to be. FMG up 2.3% and RIO doing better with gold miners slightly firmer, NCM up 0.8% and NST rallying 1.8%.
•  Lithium stocks came off the boil with the exception of CXO which powered ahead 8.6%. In corporate news, PNV rose 25.2% after good US sales but patchy sales elsewhere. PBH rose 3.5% after news of NY operations, ING fell 6.0% after warning of the impact from omicron. 
• Plenty of economic news around, retail sales soared in November but have probably crashed since, a fourth straight decline in the trade balance and consumer confidence fell 2.2%. Bond yields eased back, and Asian markets mixed. HK better but elsewhere Japan and China eased.

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• ASX 200 SPI Futures down 41 points.
• US markets stage a big turnaround with Nasdaq closing up after 2.7% falls. 
• Gold slightly better. Oil off 1%.
• Iron ore down 1.5%. Base metals mixed.

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