Market Updates

Wall Street recorded a positive session as the EU and the US appeared to edge closer to a trade deal – believed to be similar to the deal penned with Japan. 15% broad tariff which could extend to cars. S&P 500 up 0.78%, Nasdaq up 0.61%. Dow steadily rose throughout the day. Closed near high, up 508 points. Strong and broad sector strength. REITS flat, otherwise all positive. Healthcare once again led the charge upwards, 4% in two days, tariff optimism a boost – pharmaceutical tariffs still yet to be announced but EU developments an indirect benefit. Energy also did well despite oil falling. Similarly, Utilities and Financials rose despite yields ticking up. Whole market enthused by EU-US developments.

ASX to rise. SPI futures up 18 points (+0.21%). Quarterlies in Focus. FMG, MQG AGM.

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The ASX 200 closes up 60points at a record high of 8737 (0.7%). Resources firm but not charging, iron ore coming off the boil slightly, BHP up 0.8% with FMG up 2.3%. Gold miners were better, NEM up 1.9% and EVN rising a more modest 0.9%. S32 rallied 3.0% with ILU also doing well on production numbers, up 4.1%. Lithium stocks slipped with PLS down 2.4% and LTR off 3.6%. Oil and gas mixed, WDS up 1.5% on production numbers, STO down 0.8% and coal stocks soaring, WHC up 6.5% and NHC up 2.1%. Uranium under pressure with PDN down 11.3% on production report. Banks found buyers, CBA up 0.5% and ANZ outperforming again up 2.5% with the Big Bank Basket up to $274.18 (+0.8%). Financials firmed, ASX up 1.3% and insurers better, AMP saw profit taking off 1.8%. REITs firmed, healthcare better, CSL back in the green up 0.6% and RHC rising 3.2% with TLX getting whacked 15.1% on SEC inquiry. Industrials firm across the board, REH up 3.8% and JBH up 1.8% with retailers better, tech mixed, WTC up 0.8% and the All-Tech Index rose 0.3%. 

In corporate news, VUL rallied 3.7% on funding news, ALD rose 3.3% on resilient NZ earnings. Nothing on the economic front locally. Japanese trade deal in focus. 

Asian markets mixed. Japan up 3.9% on trade deal. HK up 1.4%. China up 0.6%.

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Wall Street mixed overnight as markets digested earnings reports, anticipates further reports, and watched for signs of progress in trade talks. S&P 500 up 0.06%, Nasdaq down 0.39%. Dow was choppy in the early session but found strength from about noon to consistently rise. Closed near high, up 179 points. Broad sector strength, only Tech was down, Texas Instruments cautious earnings forecasts sent chip sector tumbling after hours, market seemed to anticipate the disappointing results, Nvidia down 2.5%. Healthcare led the charge upwards after recent weakness, up almost 2%. REITS, Utilities and Financials all did well as yields eased again, Trump’s continued attacks on the Fed having their impact. Cyclicals also boosted by a 1.1% rise for Tesla ahead of its earnings today (tomorrow morning our time).

ASX to rise. SPI futures up 40 points (+0.46%). Gold up 1% - Resources to continue to outperform. BHP has now outperformed CBA by +25% in less than a month.

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The ASX 200 finished up 9 points to 8677 as the initial rally fizzled out. More the sellers turned up in spades for the banking sector again. CBA crushed 3.1% with the Big Bank Basket down to $272.11 (-2.6%), under serious pressure again as the money flowed to resources. BHP up 2.6% and RIO charging ahead up 3.4%. Gold miners also back in demand, NST up 1.3% and NEM rising 2.8%. Lithium stocks on pause as were rare earths, LYC down 0.1% and graphite stocks taking a breather. SYR fell 9.3% and NVX off 0.8%. Oil flat and uranium falling a little. The industrials were flat, WES off 0.8% and BXB down 0.9% with SGH putting on the Ritz up 1.3%. Healthcare doing well as CSL hit a 4-month high, up 3.4% with PME up 2.1%. REITs firmed, tech better, XRO up 0.6% after SPP pricing period finishes, WTC up 1.4% and the All-Tech Index up 0.2%. In corporate news, IFL rose 12.2% as CC Capital agreed a 480c cash scheme. PPT up 0.7% on restructure plans.

In economic news, RBA minutes continued to show caution and gradual moves.  Consumer confidence fell 0.2% last week to 86.3 points, according to the ANZ-Roy Morgan Consumer Confidence index, as households were less optimistic about financial conditions.

Asian markets mixed, Japan down 0.3% after holiday. HK up 0.5%. China up 0.8%.

10-year yield eases to 4.30%

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Wall Street recorded a positive session, although it couldn’t maintain its early highs, with the S&P 500 and Nasdaq closing at new highs, ahead of Big Tech earnings kicking off this Wednesday with Alphabet and Tesla reporting. S&P 500 up 0.14%, Nasdaq rose 0.38%. Dow rose at open, peaked and plateaued from midday to 2pm, and fell for the rest of the session, closing near the low. Down 19 points. Tech led the way upward. Optimism ahead of earnings, demonstrated by Alphabet rising 2.7% before Wednesday. Materials also did well, following resources upwards. Cyclicals another strong performer, Amazon rising 1.4% helped to boost the sector. At the opposite end of the ladder, Energy slipped and followed oil downward. Healthcare also continued its recent struggles, uncertainty around Trump’s tariffs on sector a persistent drag.

Resources up, weaker dollar a boost. Oil down, modest reaction to EU’s latest sanctions against Russia, viewed as having little impact. Iron ore up 3%, hitting 5 month high, boosted by news of China's mega-dam project and stronger steel margins. Copper, nickel, tin all recorded gains of over or close to 1%.

ASX to rise. SPI futures up 14 points (+0.16%).

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The ASX 200 dropped 89 points to 8668 (-1.0%) giving back Friday’s gains as banks came under intense pressure.  The Big Bank Basket dropped to $279.24 (2.6%). CBA and WBC leading the sector down with other financials also in the spotlight. MQG fell 1.4% with ASX of 2.1% and IFL down 5.8% as the company updated the CC Capital bid. Insurers fell hard too, QBE down 1.9% and IAG off 1.4% with the REIT sector falling hard, GMG down 0.8% and CHC down 2.3%. Industrials also under the knife, WES off 1.0% with CPU down 1.2% and retail falling, JBH off 1.5% and APE down 3.6%. Travel stocks falling to earth, FLT down 3.0% and WEB off 2.5% with ALL down 1.4%. Tech stocks mixed, WTC up 1.9% and XRO off 0.7% on last day for SPP.

Resources were better again, BHP, RIO and FMG did well as China announced a new dam and iron ore continued higher in Asian trade. Lithium stocks squeezed higher, LTR up 11.4% and PLS rising 4.1%. Graphite and rare earths also still in demand, SYR up 17.8% and LYC up 1.4%.  Gold miners saw selling, NEM up 0.5%, NST down 1.5% and EVN off 1.2%. Oil and gas slightly firmer, WDS up 1.4% with uranium stocks also doing well, PDN up 2.3% and coal up too.

In corporate news, AMP jumped 9.8% on update, XYZ rose 11.2% on US Index inclusion. S32 rose 4.5% on FY production guidance. Nothing on the economic front, China left rates unchanged. 

Asian markets modestly higher. Japan closed for Marine Day.

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Wall Street recorded a rather flat session after briefly dipping following Trump’s updated threats to the EU regarding tariffs – the Financial Times reported that Trump wants a minimum tariff between 15-20%. Markets tiring of having to read between tariff headlines. S&P 500 flat, up 0.3% for the week. Nasdaq also flat, but up 1.4% for the week. Dow fell at open and was subdued for much of the session. Down 142 points, down 487 for the week. Mixed sector performance. Energy followed oil down while Healthcare also flat – renewed focus on tariffs a drag, US imports much of its pharmaceutical products from the EU. Utilities the best performer, strong recent run. Easing yields a boost to rate sensitive sector, REITS also in the top three performers. Cyclicals was the second best performer – strength of largest names pushed sector upwards, Amazon up 1.0%, Tesla up 3.2%.

ASX SPI down 49 - AMP - S32 in focus.

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The ASX 200 exploded 118 points higher to 8757 (1.4%) as banks and resources caught a wave of buying. BHP production numbers, coupled with iron ore gains in Asia, helped the Big Australian up 3.0%. RIO up 1.8% with FMG lagging only up 0.5%.  Lithium and graphite stocks flew, LTR up 10.1% and PLS rallying another 8.6%, with MIN up 4.8% and ILU rising 5.0%. Graphite stocks were in demand, SYR up 25.9%, and TLG up 10.0%. Gold miners found some love late in the day, NST up% % with EVN rising % but uranium stocks dipping slightly. Industrials firmed across the board, WES up 1.4% with TCL up 0.9% and SGH rising 3.0%. Healthcare is too in demand, CSL rallying 3.6% on a broker report, and MSB is living up to its name on revenue, up 34.6%. Tech stocks are better, WTC up 1.2%, and XRO rising 1.0%. Banks, as usual, didn’t want to miss out. CBA up 0.9% with WBC rising 1.8% and MQG up 1.3%. The Big Bank Basket up to $286.78 (+1.1%). Financials are also in demand, IFL is better by 5.8% on reports that a deal is close. Insurers rose, REITS better, GMG up 1.5%, and SGP up 0.9%.

In corporate news, ALX fell 0.4% on US supreme court news, FBU rose 3.0% on a business update. Nothing on the economic front local.

Asian markets mixed, Japan down 0.2% ahead of weekend election, HK up 0.8% and China up 0.4%. 10-year yields steady at 4.33%

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Wall Street recorded a positive session against a backdrop of positive economic surprises. Retail sales rising more than expected and jobless claims falling, while major AI company Taiwan Semiconductors beat earnings expectations. S&P 500 up 0.54%, hitting new highs. Nasdaq up 0.75%. Dow started volatile, seesawing up and down, but found consistent strength from about 1pm onwards. Ended near high, up 230 points. Strong sector breadth. REITS flat and Healthcare dropped after being top performer yesterday, otherwise all sectors up. Financials the best performer, boosted by strong earnings this week. Industrials and Cyclicals followed, both economically sensitive, earnings and retail sales both pointing to the resilience and strength of the US consumer.

ASX to rise. SPI futures up 32 points (+0.37%). BHP Production report - Graphite to shine.

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The ASX 200 marched back 77 points to 8639 (0.9%), new highs as jobs numbers opened the doors to an August rate cut. Banks led the charge, nothing new there, with CBA up % and the Big Bank Basket up to $283.65 (+1.5%). MQG rallied 0.9% with other financials doing well, GQG bouncing back 1.8% with IFL up 2.3% and XYZ gaining 5.1%. REITs firmed too on lower rates, GMG up 0.8% and SCG up 1.9%. Healthcare better too, COH up 2.3% and RHC rising 1.7%. Industrials firmed, CPU up 3.0% with ALL rallying 0.6% and the tech stocks better, XRO up 1.7% and WTC rising 0.4%. Retailers better too, HVN up 2.4% and LOV up 1.7%. 

In resources, FMG rose 0.3% with RIO up 0.5% as iron ore hit a two-month high. A little bounce in lithium, PLS up 1.9% and LTR rising 1.8% after early losses. Gold miners weakened despite a bullion rise. NEM up 1.6% and NST off 0.5%. Rare earths took a breather. Uranium stocks flat, as was oil and gas.

In corporate news, CAR had a trading update, and the CEO resigned, falling 2.9%. PBH saw another bid from BBT. Some quarterlies in GMD and STO.

In economic news, Jobs numbers worse that forecasts with only 2k new jobs instead of 20k and unemployment rose to 4.3%.

Asian markets firmed as 10-year yields dipped to 4.35%. Asian markets mixed. Japan up 0.2%, HK up 0.2%, China up 0.4%.

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