Market Updates

US markets bounced back overnight, with the Dow up 618 points and SPI Futures pointing to a 52-point gain on the open. Get caught up with Chris' Breakfast Briefing.

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Big turnaround on US markets overnight, Dow up 521 at one point only to close down 462. SPI Futures down 79. Catch up on all the action with Chris' Breakfast Briefing.


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ASX SPI Futures up 4
US Markets closed for Thanksgiving.
European markets slightly positive.
Iron ore down around 3.2% Oil unchanged.
Quiet day in store. AMP Impairments again.


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ASX 200 SPI Futures up 1.
US markets mixed with Nasdaq recovering a little from a sell off.
10Y yields rise. Oil up as reserve release underwhelms.
Gold tumbles and Iron ore approaches US$100.

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•  The ASX 200 rallies 58 points to 7411 (0.8%) as bond yields rise to 1.87% in the 10-years. Banks did well on the back of the rising yields with the Big Bank Basket bouncing back broadly to $174.37 up 1.1%. Insurers also rallied on higher rates with QBE up 1.2% and SUN rising 1.9%. Higher rates hurt tech stocks as APT led the rout following Square falling over 6% in the US. APT down 5.4% and the All Tech Index falling 3.1% with WTC and XRO both substantially weaker. 
• Industrials firmed as TCL rose 2.3%, TLS up 0.3% after KKR bid for the Italian mob, REITS rallied led by SCG up 2.3%. But the real action was in iron ore stocks as China seems poised to stimulate and Dalian futures limit up, BHP rose 4.0% on the WPL merger news with the oil company up 3.5%, RIO up 3.6% but FMG the stand-out galloping 9.8% ahead. Clearly pays to be green and clean. Base metal stocks also bolted higher, PLS up 1.6%, MIN up 4.9% and OZL up 1.4%. Energy stocks in demand as OPEC plus fights back against the evil empire about to release the strategic reserves. 
• In corporate news, 4DX rose 15.4% on its first commercial deal, MNS rallied 18.9% as it trades on US markets tonight and GMA launched a buy back. 360 in a trading halt as it raises money to buy a Tile. BAP dropped 9.6% as popular CEO/MD announced his retirement. 

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US markets faded badly into the close, whilst the Nasdaq slumped as yields rose. Elsewhere, Biden gave Powell to the people. Catch up on all the action with Henry’s Breakfast Briefing. 

• ASX SPI Futures down 12 points.
• US markets slightly mixed with late sel off. Nasdaq under pressure.
• Powell renominated as Fed Chair. Brainard Vice Chair.
• Commodities and iron ore firm.
• Gold down 2.4%.

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•  The ASX 200 finished down 43 points to 7353 (0.6%) as banks and travel stocks weighed in the index. The Big Bank Basket fell to $172.47 (1.9%) as CBA dropped another 2.1% and NAB down 1.2%. MQG joined in the sell off falling 1.0% and insurers were flat to slightly soft. Travel stocks took a hit with FLT down to a 2-month low by 7.1% and WEB fell 3.7% as Europe and US see a rise in CV cases and increased restrictions. Seems winter is not good for CV19 cases. 
• Industrials also drifted lower with WES down 0.6%, QAN off 4.0% and REA off 1.1%. Tech fell with APT driving the losses down 2.5% and the All-Tech Index down 1.5%. Miners were a bright spot as iron ore rose in Asian trade, BHP up 0.4%, FMG up 2.1% and S32 doing well too up 2.0%. Base metals also in demand led by POS up 17.0% with lithium stocks back on the march, PLS up 5.1%. Oil stocks fell as a coordinated strategic reserve release looks likely, WPL down 1.9% and STO off 2.1%. Gold miners eased with EVN falling 3.6%. 
• In corporate news, BRN raced away up 20.4% on its first real commercial deal with Megachips and NIC rose 8.0% on a MOU in Indonesia. VUL signed an offtake agreement with Renault up 7.1% and CXL had a rocky day after a ASX speeding ticket, falling 7.5%. Nothing on the economic front. 10 year yields steady at 1.80% 

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US markets were weaker on Friday night and SPI Futures are pointing to a 45-point drop on the open. Catch up on all the action with Henry's morning update. 

• ASX SPI Futures down 45 points.
• US markets mixed. 
• Commodities better. Oil eases. 
• Iron ore up 4.7%.
• AUD under 72.50c.

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•  The ASX 200 pushed 17 points higher to 7396 (0.2%) as the market meandered around with slight gains in banks and miners. The Big Bank Basket unchanged at $175.82 with CBA bouncing back 0.4%. MQG continued to push higher up 1.1% and QBE rose 1.7%. NAB and ANZ under pressure today as the laggards CBA and WBC were bought up and the others sold off. 
• Industrials were mixed, TWE up 4.1% on its purchase of Franks Family, some tech improved, ALU up 5.2% and XRO doing well up 1.4% and the All-Tech Index down 0.2% with APT under pressure down 1.8%. Healthcare better led by CSL up 1.0% and SHL up 3.2%. Miners were better as BHP rose 1.1% and FMG up 0.9%. Gold miners were mixed with base metals and lithium stocks slightly better, IGO up 2.0% and MIN up 3.5%.  Energy stocks sidelined but mildly positive.
•  In corporate news, CWN saw Blackstone back as barbarians at the gate with 1250c for the troubled casino group. VNT started life with a spurt today with a 23.5% rise. AX1 up 4.3% after an update on lost business during lockdowns. NXT reported a strong start to FY22 rising 0.5%. 10-year yields fall to 1.81%. 

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US markets mixed: Dow down on Cisco weakness, S&P 500 hits 66th record this year on big tech strength. SPI Futures up eight points. Catch up on all the action with Henry's Breakfast Briefing. 

• ASX SPI Futures up 8 points.
• US markets hit highs. Dow Trails.
• Oil better. Gold weaker.
• Iron ore remains under some pressure.

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