Market Updates

The ASX 200 soared 92 points to 8991(1.0%), closing on highs, as bank and resources fired together. The Big Bank Basket back up to $285.59 (+1.5%) with CBA signing up Comyn for another three years and rising 1.5%. NAB up 1.9% and MQG rallying another 1.5%. Other financials also doing ok, HUB up 2.0% and PNI up 1.5%. REITs quiet and insurers slipped slightly. Healthcare better as CSL rose 2.6% and TLX sprinted 16.3% higher on a guidance update.  Industrials also found some buyers, WES up 0.6% and CPU rose 2.5% with retail flat. Tech better, WTC up 1.7% and XRO rallied 1.7%. TLS rose 0.4% and TPG up 1.0% as ABB rose 5.2% after the update yesterday.

In resources, the big miners gained again, BHP up 1.8% and FMG up 2.1% with gold stocks slightly higher, EVN fell 2.9% after production numbers, GMD rose 1.6% and some rare earths did well whilst others fell hard. Substance over hot air. IPX up 11.0% and ILU up 4.4% with LRV soaring again, up 29.4%. Oil and gas stocks remain under pressure, STO down 2.2% again, uranium stocks firmed, PDN up 3.2% and NXG up 4.4%.

In corporate news, ORA said its Savreglass acquisition is not meeting expectations. No surprise there really. DRO launched a new software platform called DroneSentry -C2, BOQ raised its dividend and rose 1.4%. 29M with a production update fell 20.8%

On the economic front, Chinese inflation numbers out today. 

Asian markets rise, Japan up 1.6% China up 0.2%and HK up 1.3%.  

10-year yields fell to 4.23%.

European markets slightly higher. ASML results out this morning. 

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US stocks were mixed in overnight trade. Both the Nasdaq (-0.76%) and SP500 (-0.16%) declined. That result was better than the initial opening move, which suggested that bigger declines were likely. Argy bargy between the US and China is giving a mixed outlook for the trade war.

ASX set to rise 74 points. BOQ raises dividend. Sarah Hunter (RBA) speaks 

Both US indices steadied later in the day. Solid US bank earnings from Wells Fargo and Citigroup no doubt helped sentiment toward both the market and broader US economy. Volume across both markets was average relative to the last month of trading. Oil declined nearly 2% after the International Energy Agency forecast a glut for 2026. Industrial metals in London were down.  Gold moved to an all time high of US$4,138.

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The ASX 200 rose only 17 points today to 8899 (0.2%). But that action belies some extraordinary moves in the resources. Rare earths, lithium, critical metals, and strategic metal plays all soared. ARU up 25.4%, ILU up 15.8% and LYC up 5.0% with second liners flying. PLS up 2.7% and LTR rising 6.9%. Gold miners too in demand as bullion hit fresh records, NST up 2.8% and GMD up 5.4%. Big miners also got the memo, BHP up 2.2% and RIO rising 1.8% after production numbers. Uranium too in demand, LOT up 11.4% on a site visit, PDN up 9.6% on production numbers. Oil and gas in the slow lane as usual. The source of funding for all this buying was banks and industrials. CBA down 0.5% with WBC off 1.2% and the Big Bank Basket down to $281.46 (-0.6%). Insurers also fell, although financials tried to garner some support, MQG up 1.2%. Healthcare eased, REITs fell, industrials slid. WES down 1.2% and ALL off 1.2% with retail under pressure following weaker consumer sentiment data. Tech tried hard to hold, TNE up 1.8% and XRO up 0.5%.

In company news, plenty of production and drilling reports to keep things interesting. SRG rose 29.3% on an acquisition of TAMS. ABB fell 3.1% after reporting 22k new subscribers. BRE jumped 6.8% after a cap raise supported by Rinehart. CSC rose 3.4% after a deal to sell a 25% stake in a Cu-Ag project.

On the economic front, RBA minutes together with ANZ Roy Morgan Consumer confidence numbers.

Asian markets fell, Japan back from a holiday off 2.8%, HK down 1.1% and China 0.8% 

10-year yields fell to 4.25%. European markets slightly lower

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US markets recovered their composure in the first trading session for the week. The Nasdaq rose 2.2%, the SP500 2.02% and the VIX index dropped 12%. Bitcoin stabilised around US$115,650. US bond markets were closed for Columbus Day. The technology sector performed the strongest, with notable rises in TSLA (+5.4%) and AVGO (+9.9%). The major US banks are also reporting this week and should provide insight into Main Street America.

ASX set to open higher. SPI futures up 27 points. 

Both copper (+3.7% in London) and Brent oil (+1%) bounced after taking a hit last week. Iron ore continues to show resilience even in the face of the escalated tensions over global trade. That helps the outlook for RIO, which released its latest quarterly production update this morning. Watch for any market reaction today. There should be no surprises.

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The ASX 200 lost 76 points to 8883 (0.8%) as losses accelerated in the banks as the day wore on. The Big Bank Basket fell to $283.25 (-1.1%). ANZ bucked the trend as it unveiled its new strategy and suspended the buyback. It was up 3.3%. MQG slumped 4.0% and other financials also in the naughty corner, NWL down 4.0% and HUB dropping 5.6%. REITS pretty flat, Insurers slightly lower, SUN down 1.2%.  Industrials showed losses with QAN down 1.6%, SGH off 3.1% and ALL falling 2.5%. Retail eased, investors sought refuge in WOW and COL. Tech was hit hard, the All-Tech Index down 2.7% with WTC off another 2.5% and XRO continuing to slide, off 1.5%. REA fell 1.6% and ORG lost 1.6%.

In resources, gold and rare earths were the shining lights, NEM up 2.9% with NST gaining 1.3%. LYC pushed ever higher, ARU gained 18.3% and ILU up 2.3%. Copper stocks slipped, BHP down 0.8% and FMG fell 0.4%. Oil and gas stocks continued to fall, STO down 1.7% and WHC falling 0.9%. Uranium stocks lost a little. 

In corporate news, SS1 jumped 18.1% on US news, QAN fell on the leaked data and TWE is having a serious hangover on US and China sales issues, down 15.0%. TOE jumped 38.5% on a takeover from IsoEnergy. For BHP it looks like some progress has been made on the Chinese pricing standoff. 

On the economic front, Jim Chalmers made some sensible changes to superannuation. A super-sized backflip with pike!

Asian markets were weaker as expected on Tariff news, Chinese exports though are booming. Japan closed for Sports Day holiday China down 1.7% and HK off 3.0%.

10-year yields fell to 4.29%.

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US stocks accelerated selling into the close after Trump tweeted on new 100% tariffs on China, with the Dow Jones Industrial Average closing down 878.82 points, or 1.9%, at 45,479.60. The S&P 500 lost 2.71% to settle at 6,552.51, while the Nasdaq Composite fell 3.56% to 22,204.43. The broad-based index’s decline was the largest since April 10. Prior to Trump’s comments, stocks were sizably higher, with the Nasdaq hitting a new all-time intraday high.

The VIX spiked above 22 – SPI down 84.

Friday’s declines wiped out the S&P 500′s gain for the week, as the benchmark lost 2.4% for the period. The Nasdaq and the Dow also saw weekly losses of 2.5% and 2.7%, respectively.

• Beijing blames US for raising trade tensions, defends rare earth curbs.
• ASX to follow Wall Street lower as tariff anxiety returns to markets.
• Ukraine hit Russian energy sites with US help.
• Kremlin warns the West over 'dramatic' escalation moment in Ukraine war.
• Rio Tinto poised to shut Australia’s biggest aluminium smelter Tomago.

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The ASX 200 fell 12 points to 8959 (0.1%) in quiet trade again ahead of the US reporting season. Down 29 points for the week. Banks were firm as CBA rose 0.6% and NAB up 0.6% with ANZ being in trouble for its culture again. The Big Bank Basket rose to $286.43 (0.5%). MQG lost 0.8% on a GS downgrade. L1G continued to fly following its FUM and merger with PTM. NWL rose 5.3% as a broker upgraded. ZIP ran 2.1% and PNI rose 3.5%. REITs steady, industrials were better, QAN up 1.9% and JBH rising 2.3% with some tech stocks rallying, TNE up 2.4% and XRO finding some support rising 1.2%. The All-Tech Index up 1.3%. TLS continued to push higher. Resources were under pressure with BHP down 2.1% and RIO off 1.7%. Gold miners suffered as bullion dropped back below $4000. NST down2.1 % and NEM off 2.9%. Most gold miners rallied off earlier lows. Rare earths also came in for some profit taking as its Friday. LYC down 3.8% and ILU off 3.2%. Lithium stocks slipped too. No good news in oil and gas either, WDS down 1.2%. Uranium stocks mixed, DYL up 2.5% and PDN off 1.6%.

In corporate news, MIN saw a new NED, DGT gained 1.3% on the CEO stepping down. MAC to be delisted following the Harmony Gold takeover. 

In economic news, Michele Bullock appeared before a Senate Committee. 

Asian markets ease, Japan down 1.2%, China down 1.4% and HK down 1.1%. 

10-year yields up to 4.36%

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US stocks fell overnight and the Aussie futures market went mildly down in sympathy. The Nasdaq did lift from its intraday low in late trade. Both bitcoin and gold fell too. Most eyes will likely be on rare earth shares today as China adds to its restrictions and conditions around the metals. China controls approximately 80% of the rare earths market and uses it as leverage in trade negotiations. Copper stocks could continue to rally today after another strong session for the metal in London.

ASX set to open lower. SPI down 38 points. Gold slips - Rare earths push higher.

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The ASX 200 closed up 22 points at 8970 (0.3%) in somewhat lacklustre trade. Banks slid led by CBA down 1.3% and the Big Bank Basket down to $284.98 (0.9%). NAB also down 1.4% with other financials firming. REITS slipped slightly, GMG down 0.5% and SCG off 0.3%.  Industrials mixed and uninteresting, QAN rose 1.1% and TLS gained 0.8% with REA bouncing 1.2%. WOW and COL also better. Healthcare mixed, SIG up 3.1% and RMD down 1.2%.

In resources, copper stocks on a roll, BHP up 2.9% and RIO up 1.6%. Rare earth stocks also in demand on Chinese moves again, LYC up 5.3% and ILU up 2.5%. S32 continues to power ahead up 5.7% and IGO rose 2.4%. Gold miners were mixed, EVN up 0.8% and CMM rising 0.9%. SFR in the copper space rose 5.3%. Uranium stocks slipped slightly, PDN rose 1.1% as the SPP closes today. Oil and gas flat.

In corporate news, GYG announced a $100m buyback. ELD drooped 1.0% on a downbeat trading update. BRE jumped 8.6% on an agreement to supply specialist Carester. Nothing on the economic front.

Asian markets back in full flight, Japan up 1.4%, China up 1.6% and HK up 0.3% 

10-year yields ease to 4.35%

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HEADLINES

• S&P 500, Nasdaq end higher as tech strength outweighs Fed concerns
• ASX to rise, Wall Street renews rally; gold, silver stocks in focus – AFR
• Investors set to reignite yield curve steepening if fiscal worries worsen
• IMF chief says global economy doing 'better than feared,' risks remain
• France's Macron will appoint new prime minister in next 48 hours
• Markets face 'sharp correction' if mood sours on AI or Fed freedom, Bank of England says
• Fed last month saw rising risks to job market, but remained wary on inflation

SPI up 38

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