Market Updates

• The ASX clawed its way back to finish down 6 at 7447. After a negative start on tech woes, resources kept the index close to flat on thin holiday volumes. Iron ore miners led the gains with BHP up 2.4% and FMG rallying 1.3%. Lithium stocks were back in vogue as PLS piled on the points up 2%, MIN made minor gains up 2.7% and AKE up 0.8%. Energy stocks also in demand with WPL up 2.3%, STO up 0.7% and WHC rallying hard up 5.1%. Even AGL was stirring, up 8.6%. 
• Industrials flat across the board with tech taking a hit. XRO down 2.8%, WTC down 2.7% and APT continued lower by 2.3%. 
• Consumer stocks on the nose, WOW down 0.7%, DMP off 2.3% and WES off 2.3%. Healthcare under pressure again with CSL down 0.9% and RMD off 2.6%. Banks were mixed as CBA rose 0.7% and the Big Bank Basket up slightly to $182.91. MQG suffered after recent gains down 1.8% and MFG bucking up 6.7%. In corporate news, VGI rose 11.1% on takeover rumours. 
• In economic news, building approvals up 3.6% slightly underwhelming against forecasts of 5%. 10-year yield up to 1.91%. Asian markets slightly higher.

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ASX 200 SPI Futures up 2 points.
US markets weaker. Nasdaq down 0.96%.
Oil slips, gold better and iron ore off 0.7%
Resource stocks in focus. Lithium especially.

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• The ASX 200 pushes 23 points higher to 7388 (0.3%) in thin listless trade as Xmas approaches. Banks led the market higher as the Big Bank Basket rose to $177.40 (0.44%) with CBA up 0.3% and NAB gaining 0.6%. MQG rose 0.6% and insurers also did well as bonds rose slightly. MFG saw a 5.2% rise after CIO goes on the charm offensive. Healthcare also doing well as CV19 cases soar in NSW and testing increases. CSL up 0.4%, SHL doing very well and RMD up 0.8%. Industrials were firm with WES up 0.5%, REH up 1.5% and TCL rising 0.6%. REITs firmed on defensive moves. 
• Tech came under a little pressure as APT fell 2.4% and WTC dropped 2.6% on a sell down by the founder. The All-Tech Index fell 0.4%. Iron ore miners are a little out of favour as prices fell, BHP down 0.3% and FMG off 1.4%. Lithium stocks were again in demand as mergers overseas and broker upgrades helping sentiment. SYR knocked the ball out of the park with a 23.0% rise after an offtake agreement with Tesla and LYC firmed 1.8% on Chinese merger moves. Gold miners also in demand as bullion rose on a lower USD. NCM up 1.0% and NST gaining 0.2%. 
• In corporate news, BET rose 7.0% after a deal for a partnership in Nevada. MFG released a video update from the CIO and BGA dropped 10.3% on supply chain issues in an update. Nothing on the economic front. NSW moves on masks and QR codes and some restrictions.

US markets extend gains, putting the S&P 500 within shouting distance of its all-time high. SPI Futures are up 39 points and perhaps, just perhaps, the Santa Claus rally is on the way. At the very least, he seems to have taken over today’s Breakfast Briefing. 

• ASX SPI 200 Futures up 39 points.
• Dow Jones up 261 (0.74%) Nasdaq up 181 (1.18%)
• Commodities better. Gold up 0.9%
• Iron ore down slightly. Oil up 1.7%
• Good US economic data helping a bounce back.

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• The ASX 200 meanders to 10 points gain to close at 7365 (0.13%). Volumes are drying up as we head into Xmas. Banks under a little pressure with the Big Bank Basket unchanged at $176.62. MFG still under pressure, down 3.1% but volatility diminishes. CHC has taken out 50% of Paradice making valuations interesting. CHC down 7.5% on the news. REITS slipped lower as GPT down 1.3% and MGR down 0.7%. Healthcare mixed, CSL, a standout again, up 1.2% and EBO up 4.2% and RMD up 1.4%. 
• Industrials mixed, WOW and COL eased around 0.7%, ALL rose 1.1%, DMP steadied, and travel stocks pushed higher FLT up 2.1% on Omicron news. Tech stocks better led by APT up 5.4% and XRO rallying 2% with the All-Tech Index up 2%. 
• Big iron ore miners pulled back, RIO down 2.0% after a South American lithium acquisition, BHP off 0.8% and FMG falling 1.8%. Gold miners fell and lithium stocks saw gains after a broker upgrade on commodity prices. 
• In corporate news, LNK had a bid at 550c rising 15.0%, CHC bought 50% of Paradise, no paving and STP fell 34.9 % on a trading downdate. PPS rose 2.1% after selling its troubled international assets to Morningstar. Nothing on the economic front. Asia markets modestly weaker and 10-year yields back up to 1.60%

US markets bounced overnight; Dow up 560 points, NASDAQ up 2.4%, oil up 3.7%. SPI Futures up 11 points, looking to build on yesterday’s 63-point gain. Get up to speed with Henry’s Breakfast Briefing.

• ASX SPI Futures up 11.
• US Markets bounce hard on renewed optimism on Biden's stimulus bill.
• Dow up 561 points (1.6%) Nasdaq up 360 (2.4%)
• Iron continues to rally. Commodities stronger.
• Oil up 3.7%.

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• The ASX 200 shrugs off negative start to push 63 points higher to 7355 (0.9%) in thin trade. The holy trinity of banks, healthcare and big miners driving the index higher. The Big Bank Basket rallied to $176.68 (0.4%) with MFG finding some support in very volatile trade, closing up 4.4%. MQG bounced slightly but insurers mixed, SUN down 1.4% and QBE off another 0.6%. Big iron ore miners were back in demand as iron ore prices rose again in Asia, BHP up 1.5%, FMG better by 1.7% and RIO rallying 3.2%. EV and lithium stocks eased back on the news that Manchin blocked the Biden Build Back Better Bill. News from PLS didn’t help on a production downgrade given staffing issues in WA, falling 9.1%. Some disappointment across the sector as VUL down 3.8% and IGO off 0.7%, with LTR also down 4.2%. Energy stocks gained on a bounce in energy prices, STO up 0.8% and WPL up 1.1%. 
• Industrials firm but idle, TCL up 0.7% and WOW up 0.4%. Healthcare in demand as tests for Omicron soar, CSL bounces 4.9% with RHC up 3.1% and SHL better by 2.4%. CSL accounted for 20 points of the rise as sellers retreat. Tech stocks were mixed, APT down 1.1% and XRO up 2.6%, the All-Tech Index up 0.7%. 
• In corporate news, ACL seems to a winner from CV testing up 12.2% on an update, FFX released some good results up 7.4% and MMM rose 20.9% after buying a Ready-to Heat company Chefgood. On the economic front, the RBA has released its minutes showing rates will not be going up before wages go up. Market liked that.10-year yields rise to 1.60% helping banks.

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US markets lost ground again overnight, with the S&P 500 suffering its worst three-session slide since September. It’s not all bad news though; SPI Futures are up six points, iron ore jumped 4%, and Henry is here to keep you entertained and informed with his Breakfast Briefing.

Dow down 433 points (-1.23%) although it closed near the session high; at worst down 700, at best down 143. S&P 500 -1.14% - third consecutive decline and biggest three-session selloff since September. NASDAQ -1.24%.

Renewed concerns about the spread of Omicron and the potential impacts on the global economy were the catalysts for the selloff. Lockdowns in Europe weighed, amid the reality that restrictions/lockdowns may become more widespread.

• ASX SPI Futures up 6 points.
• US markets fall again but off lows.
• Dow down 433 Nasdaq down 189 points.
• Commodities ease - oil down 2.7% 
• Iron ore up 4.2%

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• The ASX 200 fell 12 points today to 7292 (0.2%) in listless trade. Better than the rest of Asia though. Plenty of risk coming off the Xmas table. Banks were softer after some recent gains, the Big Bank Basket eased to $175.99 (-0.4%) with MFG hurting the sector falling 33.0% after it confirmed that it had lost a substantial mandate. MQG also slipped slightly down 1.4%, and insurers mixed. Big miners and energy stocks were mixed too with STO off 4.8% and WPL down 2.9%, under pressure, but FMG rose 2.5% and S32 up 1.0%. Gold miners were positive in the main, SBM are trying to acquire BDC, SBM fell 6.5% whilst BDC rose 14.6%. NCM rose 1.7% but NST fell 1.4%. Healthcare had a good day as CSL rallied 0.6% after last week’s indigestion. FPH and RMD rose on potential CV19 wins, RHC better by 1.8% and HLS doing well as tests ramp up, rising 3.3%.
•  Industrials generally were firm, TCL rose 0.7%, ALL up 0.7% and TLS firming 0.5%. Consumer stocks were in demand, COL up 1.8% and WOW up 1.0%. Tech was once again on the nose although APT rose 1.5%. The All -Tech Index down 0.3%.
•  In corporate news, CIM fell 13.4% before an ASX query on a media article on issues in the Middle east. VEA rose 3.72% on a business update, money managers slid a little as MFG fell 33.0%, TLX fell 6.2% after FDA approvals for its prostate drug Illuccix. Nothing on the economic front. 10-year yields 1.53% off slightly.

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US markets closed lower on Friday night and SPI Futures were down 30 points at the Saturday morning close. Get caught up with Henry’s Breakfast Briefing. 

• ASX SPI 200 Futures down 30
• US markets volatile and heavy volume. Nasdaq down 0.07% Dow down 1.48%
• Iron ore higher. Oil lower. 
• Commodities mixed.
• Omicron cases steady close to records in NSW.

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