Market Updates

• The ASX 200 fell 31 points to 7354 (0.4%) as some caution set in ahead of the US CPI number tonight and tech sell off in the US. Across the board losses but tech under some pressure, APT dropped 4.4% as a Block proxy pushing the All-Tech Index down 0.4%. Z1P dropped 2.4% in sympathy for the devil. WTC jumped in a flash rising 2.9% and other large tech stocks also held firm. TLS up 0.3% and SEK giving shelter up 0.3%. The banks fell with the Big Bank Basket having no expectations falling to $174.55 (0.5%). CBA down 0.3% and NAB down 0.2%. MFG found some support up 0.9% but insurers weakened. CSL in the sick bay dear doctor down 2.1%, SHL off 1.6% and RMD found no satisfaction down 2.7%. 
• Industrials saw modest losses, you can’t always get what you want, ALL down 0.5% and TAH off 1.2%. Miners let it bleed as BHP dropped 0.6%, FMG was waiting on a new friend after Elizabeth Gaines announced she was out of time. FMG fell 0.8% with gold stocks needing an emotional rescue as NCM fell 1.7% and NST off 1.4%. 
• No satisfaction on the corporate front, news thin on the ground. Wild horses couldn’t stir anything on the economic front. US CPI tonight. Asian market torn and frayed but no 19th nervous breakdown on Evergrande news. Tumbling dice saw 10-year yields slip back to 1.63% 

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US markets all finished lower overnight, despite US initial jobless claims falling to a 52-year low in yet another sign of the strength of the US economy. Elsewhere, Fitch downgraded some Chinese property developers – better late than never. SPI Futures down 10 points. Get up to speed with Henry’s Breakfast Briefing.

• ASX SPI Futures down 10.
• US markets see late sell off. Biden talks inflation.
• Caution ahead of US CPI Friday.
• Nasdaq slips 1.7%. Commodities ease.

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• The ASX 200 see sawed from loss to gain today after two solid days. The index finished down 21 to 7384 (0.3%) in a late sell off with banks holding firm. The Big Bank Basket rose to $175.48 flat on the day CBA up 0.2% and NAB up 0.2% the stars. Another heartbreaking day for Hamish as MFG dropped again by another 4.9% to a two -year low. Insurers mixed with a mixed platter in industrials, WES down 1.0%, DMP down 3.0%, TCL off 2.0% and BXB rising 1.5%. Tech was mixed, APT up 0.5% and XRO down 3.2%. The All-Tech Index down 0.6%. Miners were mixed, BHP lost 1.2% but FMG gained 1.5%. IGO had a good day up 1.7% and LYC fell 0.3% despite Macquarie research initiation. Energy stocks eased back.
•  In corporate news, SYD takeover received ACCC approval as did SWM/PRT. OZL rallied 0.6% after offloading some JV stakes. ACCC greenlights CWY deal to buy Suez. In economic news, payroll jobs growth slowed to 0.2%. 10-year yields firmed to 1.67%

MAJOR MOVERS:

·        Winners: VUL, IMU, IHL, NVX, AD8, RED, TLX, AGL.

·        Losers: RBL, CCX, SZL, BTH, TPW, MFG, Z1P.

·        Positive sectors: Healthcare. 

·        Negative sectors: Miners. Tech. Energy.

·        Hi 7418 Lo 7378. Narrow range.

·        Big Bank Basket: Up to $175.48 unchanged

·        All-Tech index: Down 0.6%

·        Gold: Weaker at $2488.

·        Bitcoin: Slips to US$49848

·        Aussie Dollar:  Higher at 71.66c 10-YEAR YIELD: Firms to 1.67%.

·        Asian Markets: Japan down 0.3% Hong Kong up 1% and China up 2.1%.

·        US Futures: Dow futures down 63 NASDAQ futures down 30.

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After charging hard in the prior two session, the bulls in the US took a bit of a breather overnight. US markets still finished higher, but only marginally. Commodities were solid but not spectacular. SPI Futures down 27 points after a big local session yesterday. Get up to speed with Henry’s Breakfast Briefing. 

• ASX SPI Futures down 27
• US markets firm. Nasdaq up 0.6%.
• Commodities firm again. Iron ore off slightly.
• ACCC approves SYD takeover.
• EBOS raising $742m and acquisition.

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• The ASX 200 powers up 92 points to 7405 (1.25%) as shorts rush to cover and the FOMO returns. Off its afternoon highs as US futures cool slightly. Few losers today as banks underperforming slightly though the Big Bank Basket up to $175.31 (0.5%) with CBA up 0.3% and NAB up 1.0%. MFG rose 4.3% after clarification of Hamish and his wife’s status. MQG rose 1.3% and the insurers also showed a clean pair of heels, QBE up 2.4% and IAG up 2.8%. Industrials firmed with ALL up 1.5% and WOW up 0.4% as REITS also did well, GMG resumed the position up 1.4%. 
• Tech was a massive winner today as the Nasdaq charge spilled over into BNPL stocks and platform providers. Z1P rose another 10.9% making a20% gain in two days, APT up 4.2% on the Square price gain in the US. The All-Tech Index rose 2.8%. Healthcare also doing well. The Mexican blood issue a memory for CSL which was up 0.9%. Miners flew as iron ore prices continued higher, BHP up 1.9% and FMG up 3.3%. Gold miners left out slightly, but energy stocks pumped with WPL up 2.1% and STO up 2.3%. 
• In corporate news, TGP sold a 50% interest in its digital arm. No much on the economic front today although Japanese GDP was weaker than expected. 10 -year yields 1.62% and the AUD at 71.36c 

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US markets extended gains overnight, with the Dow up nearly 500 points and the Nasdaq jumping 3%. That’s not all, commodities rallied and iron ore jumped 8%. It’s fair to say, the bulls have awakened. Your guide through it all? Henry Jennings with his Breakfast Briefing. 

• ASX 200 SPI Futures up 22
• US markets spurt ahead again. Nasdaq up 3% 
• Iron ore rallies nearly 9% Oil up 3.3%
• Commodities firm.

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•  The ASX 200 rose 69 points to 7314 (0.95%) after the RBA keeps rates unchanged and turns a little cautious dropping reference to a date for conditions to allow rate change. The market rallied strongly on the news. Banks kicked higher with the Big Bank Basket up to $174.38 (0.8%) with BOQ doing well post an update, up 4.2%. CBA up 0.4% and MQG kicking along up 0.2%.
•  Industrials formed across the board. ALL up 1.9% , WES up 0.5% and BXB up 1.6%. Tech bounced back strongly in places, Z1P up 9.9% on a trading update, APT moved 1.8% higher and XRO better by 2.4%. The All-Tech Index up 1.5% Healthcare also looking rosy with CSL shrugging off Mexican issues and rising 1.9%. SHL and RHC also doing well. In the miners, gold was flat, iron ore stocks rose eventually with BHP up 0.9% and FMG up 1.5%. 
• Energy stocks did well on the crude rally, STO/OSH look to have sealed the deal, both up strongly. WPL gained 2.0% too. Lithium stocks mixed with AKE down 0.1% and PLS rising 0.4%. 
• In corporate news, MFG fell 6.4% after the CEO resigned, OSH/STO merger looks to gain approvals. IAG rose 1.4% after reaffirming guidance and BOQ up 4.2% after a business update. 10 -year yields rose to 1.64% and the AUD firmed on RBA and Chinese data. 

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• ASX 200 SPI Futures up 29.
• US market bounce back hard. Dow up 647 points.
• Nasdaq drags its heels. 
• Commodities mixed. Gold slips. Oil firms 4.5%

• The ASX 200 rose 4 points to 7245 (+0.05%) with banks holding up and resources and techs on the nose. The Big Bank Basket was better at $173.04 with CBA better, up 0.7%. Other financials mixed with MQG up 0.2% and MFG off 4.0% on latest FUM numbers. Insurers sank as QBE gave up 1.4% and IAG dropped 3.8% on lower interest rates. Industrials firmed in defensives with REH up 1.7%, BXB up 1.5% and TCL rising 1.6%. Consumer stocks better as COL and WOW rose 2.6%The tech sector was attacked with gusto, SEK fell 0.7%, REA off 1.2% and TLS down 0.3%. Sell now, buy later stocks collapsed today as APT fell 4.3% on Square falling in the US, SZL dropped 16.1% and ZIP down 10.1%. 
• Other tech high-flyers also came under fire with 360 dropping 14.0% and lithium/ battery tech stocks suffering, NMT down 11.1 % and VUL down 8.4%. The All-Tech Index slid 2.2%. In resources, gold miners were enjoying higher bullion prices and a lower AUD, EVN up 3.7%, SLR up 4.6% and RRL rising 3.0%. Iron ore miners down led by BHP off 1.6% and lithium stocks also falling, AKE down 7.2% and PLS off 4.1%.
•  In corporate news, MTS rose 7.3% after positive numbers and a 31% increase in dividends. BAP fell foul of investors as popular CEO got pushed early dropping 5.6%. BLD rose 1.6% after the US exit of its fly ash business, eviscerating the Mike Kane legacy. ANZ job ads were up 7.4% and the 10-year yield fell to 1.57%.

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US markets finished weaker on Friday night but SPI Futures were pointing to a modest gain at the Saturday morning close. Get up to speed with Henry's Breakfast Briefing. 

• ASX 200 SPI up 11 points.
• US markets weaker. Nasdaq down 1.9%.
• US 10-Year yields back down to 1.34%
• Commodities drift off. Gold up 1.2%
• Bitcoin stumbles8% lower.

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