Market Updates

Wall Street recorded another set of gains on Tuesday in a choppy session as markets weighed upcoming earnings, economic data and changing trade policy. Sixth straight day of gains for the S&P 500. S&P 500 up 0.58%, NASDAQ up 0.55%. Dow fell early on but recovered to end the day up 300 points (+0.75%). Closed near high. All sectors in green except Energy. Lower oil prices. Materials and Non-Cyclicals top performing sectors. Trump signed an order to reduce the impact of his auto tariffs to positive results. Ford up 1.3%, Tesla up 2.2%, most of the Magnificent Seven. General Motors down 0.6% but it pulled its outlook amid tariff uncertainty. Visa up 1.2% after beating estimates on strong card spending volumes. Coca Cola (+0.8%) also beat estimates but guided tariffs could hurt consumer sentiment. Resources mixed. Oil down to two weak low. OPEC+ boost to output and fears of global economic slowdown. Metals mixed. Aluminium up +1.3%, Nickel down 0.4%.

ASX to rise. SPI futures up 28 points (+0.35%).

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The ASX 200 closed up 74 to 8071 in another strong day pushing to a two-month high. Up 0.9%. All sectors firing, the banks did well with NAB up % and WBC up % as the Big Bank Basket crept to $261.14 (0.4%). Financials also in demand, PNI up 2.3% PPT up 3.1% and MQG up 0.8%. AMP continues to push higher, up another 3.6%. Insurers and REITS firmed, GMG up 1.6% and SCG rising 0.9% with SUN better by 0.7%. Industrials better across the board, BXB bounced back 1.5% with CPU up 1.9% and ORG rising 3.2%. Retail stocks also in demand again, JBH up % and TPW rising %. Travel stocks also better, CTD up 4.3% leading the pack. Healthcare pushed back up too, PME up 2.7% and TLX recovering a little. In resources, iron ore miners gained with FMG quarterly and a broker upgrade helping it rise 5.8% with S32 up 2.6%. The gold sector recovered some of its recent losses with GMD up 5.1% and BGL rising 4.0%. NST quarterly disappointed on production guidance and fell 4.7%. Heavily shorted resource company also squeezed a lot higher, MIN up 13.2% after its quarterly, uranium stocks continue to power ahead, PDN up 8.5% with BOE up 14.3%. Lithium plays also in demand, LTR up 5.6%.  WDS rallied 1.5% on its big US LNG project FID. In corporate news, EDV got a new CEO, WHC rose on quarterly production report, AIA fell as it announced it would delay a second runway. Nothing on the economic front. Asian market better, Japan up 0.4%, China down 0.1% and HK up 0.1%. 10-year yields 4.19%.

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Wall Street recorded a flat session on Monday ahead of various economic data and earnings releases this week. S&P 500 up 0.06%, NASDAQ down 0.1%. Dow fell throughout the day but rose in the late afternoon to finish in the green. Up 114 points (+0.28%). Mixed sector performance. Real Estate and Energy best two performers. Tech worst performer after leading gains for three consecutive days. Modest losses. Amazon (-0.7%) down as sellers plan on reducing Prime Day discounts to protect margins amid China tariffs. IBM (+1.6%) up after it pledged $150 billion US investment. Another Tech concession to Trump. Nvidia down 2.1% as rival Huawei announces new chip. Intel (+2.3%) up after it was 6.7% down the previous session. Rebound from a strong sell-off. Resources mixed. Oil down. Weakening demand fears. Nickel up +0.9%. Natural gas up 7.9% on lifted demand forecast and front-month contract’s expiration.

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The ASX 200 jumped out of the box to finish up 29 points to 7997 (0.4%) as some caution crept in as the day wore on. CBA turned negative, not helping as NAB soared 1.7% and the Big Bank Basket fell to $260.16 (-0.2%). Financials were generally firm, AMP finding a few new friends up 2.5% and XYZ bouncing slightly. GQG fell 1.4% and PNI popped 2.7%. REITs were mixed, GMG rose 0.8%. Healthcare stocks back in favour, RMD up 2.4% and even CSL put on 1.0% with PME up 3.7%. TLX fell 6.6% on FDA news. Industrials were positive with WES up 1.4% and the tech space better, XRO up 1.9% and the Index up 1.3%. Retailers getting a boost with JBH up 1.5% and AX1 rising 1.7%. HVN also put on 2.4%. In resources, gold miners continued to see profit taking as bullion slipped further as risks cooled. NEM fell 1.3% with VAU down 2.3% and GMD falling 3.6%. Lithium stocks are under pressure again, with LTR down 4.4% and PLS falling 2.4%. BHP slid 1.1% with RIO unchanged. LYC led rare earth stocks higher on its quarterly, uranium stocks saw modest moves with STO up 2.2% and WDS gaining 1.8%. In corporate news, BVS slid 11.2% on a surprise CEO resignation. AGI rose 31.1% as minority shareholder bid 100c for remaining shares. Nothing on the economic front today. China making some noises about stimulus and protecting jobs. Asian markets firmed, Japan up 0.4%, China unchanged and HK up 0.1%. 10-year yields falling to 4.16%.

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Wall Street recorded a fourth consecutive day of gains on Friday to finish a strong week with Tech leading the way as hopes of a de-escalation in the trade war between the US and China boosted all indices. S&P 500 up 0.74%, NASDAQ up 1.26%. Dow dropped and rose steadily throughout day to finish flat. Ended near high. Up 20 points. Mixed sector performance. Growth outperformed defensive. Rotation to risk-on stocks. Financials and Non-Cyclicals down. Tech and Consumer Cyclicals top two performers for third day running. Alphabet up 1.7%. First session after earnings beat analyst forecasts following market close on Thursday. Intel down 6.7% after disappointing earnings post-market close Thursday. Tesla up 9.8% after Trump administration said it hopes to speed up the development of self-driving cars by easing safety regulations. Up 23.7% last week. Resources down. Stronger dollar weighed on resources. Iron ore (-1.1%), copper (-0.3%) and zinc (-1.9%) all impacted.

ASX SPI up 2 following 81 point rise Friday Morning.

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A strong finish to a short week as the ASX 200 closed up 48 points to 7968 (0.6%). For the week we are up another 1.9%. A solid performance from the banks again with NAB up % and WBC rising %. The Big Bank Basket rose to $260.77 (+0.75%). MQG up another 1.2% as brokers upgraded post the Nomura deal. Fund managers picked up too, PNI up 2.6% and MFG rising 1.2%., GDG failed to touch the wall with its business update falling 14.9%. AMP feeling some love from brokers up 2.5%. ZIP also doing well as shorts covered. REITs better as an RBA rate cut beckons. At least according to WBC. Industrials relatively flat, tech better, WTC up 2.5% and the All-Tech Index up 0.6%. Healthcare saw gains with RMD doing well up 8.5% as it believes it is exempt from tariffs. The action again was in resources, BHP up 0.9% and FMG up 1.0%. Gold miners bounced back as bullion bounced and panic subsided. NEM quarterly helped and were up 3.5%, RRL up 4.1% with NST bouncing slightly. Shorts were being covered in uranium stocks again, PDN roaring ahead, up 12.1%, MIN up 5.9% and ILU up 2.4%. In corporate news, plenty of quarterlies dropping. PWH fell 5.7% as the CEO and founder is stepping back for medical leave. JHX is getting attention from Jim Chalmers on its move to redomicile without shareholder approval. On the economic front, WBC’s economist Luci Ellis says a 25bps cut in May is now on the cards. Asian market mostly better. 10-year yields at 4.24%.

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Wall Street recorded a second day in the green as Trump stated he had “no intention of firing Powell” and Treasury Secretary Bessent renewed hopes of trade war de-escalation with China. S&P 500 up 1.67%, NASDAQ up 2.50%. Dow rose sharply but pared some gains throughout day. Closed near low. Up 420 points. Most sectors up. Growth sectors led rally. Tech and Consumer Cyclicals top two, benefitting from de-escalation. Apple, Microsoft and Alphabet all up >2%. Amazon and Tesla largest Consumer Cyclicals. Up 4.3% and 5.4%, adding to Tuesday’s 3.5% and 4.6%. Tesla up on relief rally that Musk will spend more time with company than Trump. Boeing up 6.1% after posting a better-than-expected loss for Q1. Novarax jumped 19.5% after the FDA asked for more data on its COVID vaccine. Resources mixed. Oil down 1.8% after reports OPEC+ might accelerate output in June. Iron ore up 1.7%, close to three week high Boosted by hopes of smoothing relations between the US and China. Up more than 15% this month after hitting 17-month low at start of April.

ASX to rise. SPI futures up 13 points (+0.16%). Gold sold down - Anzac Ahead

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The ASX 200 was a mirror of yesterday with CBA and gold miners down today and the rest of the market up. The index closed up 104 points at 7920(1.3%). In the banks, CBA fell 2.5% with NAB the standout up 3.2% with the Big Bank Basket down to $258.77 (-0.8%). MQG leapt 5.3% with other financials back in demand, PNI up 6.0% and GQG up 7.1%. REITs also doing well with GMG rallying 3.0% and VCX up 2.7%. Industrials firmed across the board, WES up 1.8%, ALL rising 4.4% and SGH up 3.2%. Healthcare stocks also saw gain, TLX up 12.5% on a sales update. Tech stocks better, WTC put in 5.5% with XRO up 2.9% and the All-Tech Index up 3.5%. Resources were generally firm, BHP up 3.3% with FMG rallying 2.7%, LYC fell 7.6% on possible Chinese de-escalation, gold miners too saw some profit taking across the board, with NST down 9.6% and EVN falling 10.9% as NEM dropped 7.0%. Uranium stocks had a lovely day out, PDN reassured the markets with a production update, up 24.6%, and Spott has been buying the sector; DYL is up 12.0% with oil and gas stocks also doing well, STO is up 6.1% with WDS putting on 3.6%. On the corporate front, IFL revealed FUM and rallied 4.5% with CTT falling 24.4% on reporting weak demand in US on tariff uncertainty. On the economic front, new business activity in Australia’s private sector rose at the fastest pace in three years. Asian markets firmed with Japan up 1.9%, HK up 2.2% and China up 0.3%. 10-year yields eased slightly to 4.26%.

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Wall Street bounced back to end a four-day losing streak as markets responded positively to quarterly earnings reports and hopes of a de-escalation in US-China trade tensions. S&P 500 up 2.51%, NASDAQ up 2.71%. Dow steadily rose throughout day and ended near high. Up 1017 points. All sectors green. Financials led the charge. All major names up 2.9% or more. Followed by Consumer Cyclicals. Amazon (+3.5%) and Tesla (+4.6%) largest names in sector. Tesla was up ahead of earnings release – better than expected, up over 5.5% in after hours trading. 3M Co up 8.3% after beating analyst consensus. Verizon recovered from an initial drop to finish up 0.61% as markets weighed mixed earnings results. Resources mixed. Oil up 1.3% on new US sanctions on Iran. Copper climbed further to hit new two-week high. Iron ore down as India imposed temporary 12% tariff on certain steel imports from China.

ASX to rise. SPI futures up 100 points (+1.28%). Dow futures kick again on Trump's comments on Powell.

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The ASX 200 shook off early losses as banks pushed ahead. The index closed down 2 points at 7800 (0.03%), with CBA hitting a record high! Up 4.2% The strength here has masked underlying index weakness.  Other banks trailed in its wake with the Big Bank Basket up to $260.87 (+2.5%). Other financials were mixed, GQG up 2.9% with CGF also doing well, IFL dropped 4.3% on a broker downgrade, PNI fell 2.4% and XYZ off 5.5%. REITs also fell hard, GMG down 1.6% and CHC falling 1.2%. Industrials also fell with tech under serious pressure, WTC down 2.4% and the Index down 2.0%. Retail fell too, LOV off 1.6% and APE down 1.6%. Travel stocks fell, FLT off 4.1% and CTD falling 2.9%. In resources, gold miners were the stars again, NST up 3.0% and EVN pushing 4.9% ahead as copper hit a two-week high. GMD up 1.4% and OBM rose 3.0%. Lithium miners fell as CATL is pushing ahead with sodium-ion technology. Uranium stocks trounced as DYL paused its Namibian operations, falling 8.2% and PDN down 12.5%. Iron ore miners steady, despite the fall in iron ore in Singapore. In corporate news, MQG rose 0.6% as it sold is asset management business to Nomura. BGL fell 7.1% after more detail on its hedge book emerged. ILU and REE joined forces to bid for a Kenyan Rare earth project. Nothing on the economic front. Asian markets were better than expected with 10-year yields at 4.23%.

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