Market Updates

Dow down six points, saved by a late rally. S&P +0.30%, extending its win streak to seven and closing at a fresh all-time high. NASDAQ +0.62%. SPI Futures up two points. Get in the know with Henry's Breakfast Briefing.

• ASX SPI up 2.
• Dow down 6. Nasdaq up 94 (0.6%) S&O 500 hits record.
• Oil and commodities stumble.
• Iron ore down 5.6%

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• The ASX 200 rose 2 points to 7415 in a muted session with one eye on Evergrande and the other on AGM and business updates. Most updates are positive, but sentiment is being held in check by a fall in Evergrande in China. 
• Mixed across the board, banks slightly higher with the Big Bank Basket up to $187.92. WBC the standout today up 0.6%. MQG continue the march to $200 up 0.9% and fund managers fighting back with MFG up 2.3% on its AGM and PPT up 7.8% on FUM. Even AMP look to be turning a corner rising 4.0%. 
• Industrials mixed with WOW off 0.9% and ALL rising 3.3% after its return to trade following the capital raise and acquisition. REITS firmed, tech slightly higher with APT up 0.1% and the All-Tech Index up 0.5%. In the resource space, BHP continue to find friends but down 0.2% at the close and RIO and FMG eased slightly. 
• Energy stocks fell after production reports from both STO down 1.1% and WPL down 2.3%. In other corporate news, BRN released news that developers could now buy their chips to trail. One cost $5k the other $10k. HLS rose 4.40% after a positive update driven by CV19 testing. 29M fell 3.3% after its quarterly report. 
• On the economic front, weekly payrolls and wages numbers out with a rise of 0.2% in the last two weeks up to 25th September. 10 -year yields fell 2bps to 1.79%.

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The S&P 500 kept chugging along overnight, up for a sixth consecutive session despite inflation and labor shortages being highlighted by the Fed's Beige Book. SPI Futures up 12 points. Get up to speed with Henry's Breakfast Briefing. 

• ASX SPI Futures up 12.
• Commodities mixed.
• AUD stronger at 75.17c Gold up 0.8% Oil up 0.9%
• US markets at record highs again. Tesla results.
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• The ASX 200 closed up 39 points to 7414 (0.5%) in a solid but uninspiring day, limping into the close. Once again AGMs and business updates dominated the market and investors were happy to overlook the continued rise to 1.79% in 10-year yields. The AUD too doing well up to close to 75c. Tech stocks were in demand despite the rate rises, APT up 1.6% and XRO up 1.4%.
• The All-Tech Index up 1.3%. Banks as usual the biggest driver of the index with the Big Bank Basket up to $187.93. MQG doing well up 2.0% and insurers rallying on bond rates. Resources were generally positive despite coal and uranium on the nose, PDN down 1.6% and WHC off 7.9%. Energy also flat led lower by WPL down 1.8% and STO falling 1.4%. BHP rallied 0.5% on positive broker comments. 
• Consumer stocks mixed on updates, SUL up 1.7%, KGN shooting the lights out as inventory issues seem to have been solved up 6.7%. In other corporate news, FLT dropped 4.8% on its trading update and TYR sagged 3.0% after it announced it would defend a class action. Nothing on the economic front today and Asian markets slightly positive, seems that Evergrande is paying some interest payments to locals just not international investors.

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• ASX Futures up 41 points. Commodities slip.
• Oil continues to rally.
• US markets firm on results.
• AGM and business updates to continue to dominate.

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• The ASX 200 closes down 6 points at 7375 in a see saw day. 
• AGMs dominating the market. BHP production report knocks some optimism out of the big miners, BHP down 2.0% and FMG off 1.2%. Banks were solid if uninspiring with the Big Bank Basket down to $186.17 with CBA unchanged. MQG still powering ahead up 0.9%. REITS were slightly better as bond yields eased back slightly and tech was in the frame led by APT up 2.7% and Z1P up 5.2% on broker upgrades. 
• The All -Tech Index rose 1.4%. Healthcare did well with CSL up 0.6% and FPH rising 2.7%. 
• In corporate news, TAH revealed a 17% drop in wagering business and a 2022 demerger timetable. COH has stuck to profit guidance up 1.9% and BAP flagged a solid start to FY22, rising 2.0%. 
• RBA minutes hardly raised the pulse and ANZ consumer confidence pushed higher for the sixth week. 10-year yields did ease a little but back up to 1.75% at the ASX close.

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The Dow posted a modest decline but the S&P 500 clinched its longest win streak in nearly two months as US markets shook off weak China data. SPI Futures down 20 points. Get up to speed with Henry’s Breakfast Briefing.

• ASX SPI FUTURES DOWN 20 points
• US Markets mixed - Dow down 36 Nasdaq up 124 points.
• Commodities mixed. Oil eases.
• RBA Minutes today.

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• The ASX 200 gave up early gains to close up 19 points at 7381. NZ CPI data saw 10-year yields spike higher and Chinese GDP miss both weighing on investors’ minds. Banks did well in this environment with CBA up 1.6% and the Big Bank Basket up to $186.55 %. MQG put on 0.5% after a broker upgrade and insurers also did ok, QBE up 1.0%. REITS though under pressure on the rate rise, SYD fell 0.4% on an update on bid and TCL flat on bond push. Healthcare stocks under pressure, CSL down 1.1% and RMD down 0.9%. Industrials under a little pressure, ALL suspended as it raises funds for a large UK acquisition. 
• Resources were the place to be. BHP rose 0.9%, FMG up 1.0% but base metals doing very well, OZL up 4.6% and SFR rising 0.5% on higher commodity prices. Oil prices continue to head higher and a bid for SXY from POSCO saw some rerating in the sector. STO up 1.4%, WPL up 0.3%. 
• Tech stocks under pressure on the yield increase, APT down 1.4% and Z1P updated the market falling 1.5%. The All-Tech Index dropped 1.4%. Travel stocks slightly positive as the economy remains on track to reopen despite high numbers still in Victoria.
•  In corporate news, SLC rose 22.2% after the sale of some of its Singaporean assets, CL1 up 61.3% on a bid from HUB -0.9%. In economic news, NZ CPI hit 4.9% annually and Chinese GDP dropped to 4.9% too.

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US equities had their best week in nearly three months last week as a good start to Q3 earnings season and improving Covid trends helped overcome inflation and Fed tapering worries. SPI Futures up 31 points at the Saturday morning close. Get up to speed with Henry's Breakfast Briefing.  

• ASX SPI Futures up 31 points.
• US market firm on better corporate and economic numbers.
• Gold falls 1.7% Oil up 1%.
• Resources in focus on commodity price rises. 
• ALL launches $3.9bn UK bid and equity raising.

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• The ASX 200 moved 50 points higher to 7362 (0.7%) today as banks rallied after US results, and miners did well on higher commodity prices. The Big Bank Basket moved up slightly to $184.19%. MQG up 3.7% hitting an all time high, insurers though flat on news that ASIC would be pursuing IAG. Fund managers took a beating as Judith Neilson sold down her holding of PTM as the stock fell 6.9% and PDL down 11.5% on FUM. 
• Miners were in demand, BHP up 2.8%, FMG up 2.0% though RIO fell 0.9% on production downgrades due to personnel issues. OZL also had a great day up 5.2% with gold miners mixed, NCM down 0.2% but CHN up 2.2%. 
• In the industrials, travel stocks advanced as NSW abandoned quarantine for fully vaccinated travellers, QAN up 2.0% on some excess land sales too. WEB rose 4.0% and FLT up 3.8%. Healthcare better with CSL up 0.2% and RHC riding the reopening wave up 0.8%. Tech stocks better as bond yields steady at 1.63%, APT up 1.7% and XRO doing well up 0.9%. The All-Tech Index up 1.1%. 
• In corporate news, TWE poured some sour grapes on the bulls at its AGM falling 5.4% and the Boom in a Room Conference produced some winners not least of which STM rose 22.9% on its show and tell. 
• Nothing on the economic front. Goldman Sachs results tonight. European markets opening firm.