Market Updates

Wall Street closed out the week lower after the White House confirmed tariff plans on Mexico, Canada, and China. The Dow Jones trimmed 337 points (-0.75%). Up 172 points at best. Down 375 points at worst. The S&P 500 lost 0.50%, and the NASDAQ fell 0.28%. For the week, Dow +0.27%, S&P 500 -1.0%, and NASDAQ -1.64%. For January, Dow +4.70%, S&P 500 +2.70%, and NASDAQ +1.64%. In economics December core PCE rose 0.2% MonM and 2.8% YonY, both in line with expectations, while personal spending rose 0.7%, beating forecasts of 0.5%. In Fed Speak, Bowman and Goolsbee, emphasized patience in adjusting policy, with markets pricing in less than a 20% chance of a March rate cut and expecting the first cut in June and ~50 bp of total easing in 2024. US treasuries were stable, while the USD Index kicked 0.69% higher.

Why not sign up for a free trial? Get access to expert market insights and manage your investments with confidence.

Ready to invest in yourself? Join the Marcus Today community.

The ASX has finished the day up 39 points or 0.45%. Up 1.8% for the week. This close matches the all-time high achieved back in December. The day’s gains were driven primarily by a rally in mining, real estate and technology stocks.

Technology was the biggest gainer, continuing the DeepSeek scare recovery and following Nasdaq futures higher.

Why not sign up for a free trial? Get access to expert market insights and manage your investments with confidence.

Ready to invest in yourself? Join the Marcus Today community.

 The Dow Jones Industrial Average popped 168.61 points, or 0.38%, closing at 44,882.13. At its session highs, it had added nearly 300 points. The S&P 500 rose 0.53% to 6,071.17, while the Nasdaq Composite gained 0.25% to end at 19,681.75.

Stocks cut gains late in the session after President Donald Trump announced his intention to  implement 25% tariffs on goods imported from Canada and Mexico.
Apple results miss on iPhone sales in China.
US GDP growth came in at just 2.3%, missing expectations slightly.

ASX SPI up 36 - Gold jumps

Why not sign up for a free trial? Get access to expert market insights and manage your investments with confidence.

Ready to invest in yourself? Join the Marcus Today community.

The ASX 200 up 47to 8494 (0.6%). Record intra day, but unable to hold. Banks led the charge as always, CBA up 1.0% with the Big Bank Basket up to $264.96 (0.8%). MQG rallied 1.4% with insurers also in demand, XYZ up 2.8% and REITs firm on rate cut hopes. GMG bouncing 0.8% and SCG up 0.8%. Healthcare was stronger, CSL perked up and have been doing well recently. PME up 1.2% and OPT up another 1.0%. Industrials also in the green, WES up 0.7% with ALL up another 3.7% and REA gaining 0.9%. Tech stocks were mildly positive with the All-Tech Index up 0.6% and WTC gaining 0.9% despite AFR headlines. Resources were a mixed bag. Iron ore doing well as BHP rose 0.9% and FMG up 0.3%. Lithium stocks stalled, PLS down 1.3% despite positive broker comments. Gold miners squeezed higher, quarterlies in focus. GMD up 1.3% and NEM up 0.1%. Uranium stocks fought back again with BOE up 4.7% and PDN doing well. Oil better, WDS up 0.7% and KAR with its production and a buyback up 7.7%. In corporate news, ZIP came undone on quarterly numbers, down 25.4%, CCP dropped 12.6% on results and MIN fell 0.9% as debt blew out to over $5bn. MFG fell 8.3% as Gerald Stack stepped aside and IGO fell 1.8% after reporting an earnings loss. In economic news, nothing locally except economists falling into line on rate cuts in February. Asian market affected by Lunar New Year.  Japan open and up 0.3%. 10-year yields 4.38%.

Why not sign up for a free trial? Get access to expert market insights and manage your investments with confidence.

Ready to invest in yourself? Join the Marcus Today community.

The S&P 500 slid on Wednesday after the Federal Reserve left interest rates unchanged in its first policy decision of the year, while Nvidia slipped following a strong session. The broad market index fell 0.47% to close at 6,039.31, while the Nasdaq Composite lost 0.51% to end at 19,632.32. The Dow Jones Industrial Average shed 136.83 points, or 0.31%, to 44,713.52.

The Fed left the federal funds rate in a range of 4.25% to 4.50%. The Fed’s postmeeting statement offered a more cautious view toward sticky inflation, providing investors with an explanation behind Wednesday’s interest rate pause.

Big tech earnings after hours.

• Tesla reported disappointing results on the top and bottom lines.
• Meta beats on revenue, provides soft guidance.
• Microsoft’s results for the fiscal second quarter exceeded Wall Street consensus. Its shares dropped after the company issued its earnings report, which showed Azure cloud growth slowed from the previous quarter.

Why not sign up for a free trial? Get access to expert market insights and manage your investments with confidence.

Ready to invest in yourself? Join the Marcus Today community.

The ASX 200 faded slightly to close up 48 points at 8447, almost at an all-time high as US markets rebounded and CPI came in better than expected opening the door to a February rate cut. Banks led the charge early before fading slightly, the Big Bank Basket closed off at $262.75 (-0.1%). MQG rose 0.7% and insurers did better with QBE up 0.7%. Financial services continue to push ahead GQG up 3.5% and ASX bouncing back 2.9%. REITS better, GMG bouncing a little, SCG up 1.1% on rate hopes. Healthcare too in demand as CSL put on 1.8% with negativity on RFK Jnr helping sentiment. Industrials firmed across the board, WES up 1.2% and BXB up 0.6% with TLS up 0.8% and ORG bouncing back 1.6%. Retail firmed on CPI data. JBH up 1.9% and PMV went ex-bonus shares today and rose 4.7%. Tech in demand on Nasdaq rally, WTC up 2.6% and XRO up 2.5% with the All-Tech Index up 1.4%.  Resources were generally firm, BHP and RIO the exceptions, gold miners doing well as quarterlies continue to drop and show cash piles, lithium bounced a little as PLS rose 3.5% on its quarterly. Despite uranium slipping below $70, stocks rallied hard after the rout yesterday. BOE quarterly helped its Honeymoon period up 5.6% and DYL up 6.9%. Oil and gas modestly higher. Asian markets better with China closed for Lunar New Year. HK up 0.1% and Japan up 0.8%. 10-year yields eased to 4.37%.

Why not sign up for a free trial? Get access to expert market insights and manage your investments with confidence.

Ready to invest in yourself? Join the Marcus Today community.

The S&P 500 advanced 0.92% to 6,067.70, with technology shares seeing the biggest gains among sectors. The Nasdaq Composite surged 2.03% to 19,733.59, following a 3.1% decline a day ago. The Dow Jones Industrial Average added 136.77 points, or 0.31%, to 44,850.35.

Nvidia bounces 8.8%

ASX 200 SPI up 36 - CPI today - Quarterlies

Why not sign up for a free trial? Get access to expert market insights and manage your investments with confidence.

Ready to invest in yourself? Join the Marcus Today community.

ASX 200 fell 10 points to 8399 as DeepSeek weighed on energy and data centres. Banks kicked higher again with CBA up % and NAB up % with the Big Bank Basket up to $263.02 (0.7%). Financials were generally weaker, MQG down 1.5% on its data centre exposure and ASX falling 5.1% with IFT off 4.4%. REITS mixed with data centre fave GMG down 8.2% and SGP up 2.0%. Industrials mixed too, Retail better, WES up 1.1% and ALL rallying 4.2% with tech under a little pressure, XRO up 1.7% and WTC down 0.5% with the All-tech Index down 0.7%. Utilities eased on energy forecasts falling, TLS rallied 0.8%. Resources too were mixed, gold miners eased back, NEM down 0.7% and NST falling 2.2% with EVN down 0.2%. BHP and RIO were up around 0.4% with lithium sliding. Uranium stocks got walloped on DeepSeek news, DYL down 15.5% and PDN off 9.4%. Energy stocks generally were lower. In corporate news, GOR down on its quarterly, TLX pushed up again on completing its latest US acquisition. NXL tumbled 20.2% on profit guidance. Nothing on the economic front locally. In Asia, Lunar New Year beckons, Japan down 1.2%, HK up 0.1% and China down 0.4%. 10-year yields back to 4.42%.

Why not sign up for a free trial? Get access to expert market insights and manage your investments with confidence.

Ready to invest in yourself? Join the Marcus Today community.

The S&P 500 and Nasdaq Composite were down sharply Monday on concern about an artificial intelligence stock bubble popping because of the emergence of Chinese startup DeepSeek, which has possibly made a competitive AI model for a fraction of the billions Silicon Valley is spending. The Nasdaq Composite lost 3.07%, falling to 19,341.83, and the S&P 500 slid 1.46% to 6,012.28. The Dow Jones Industrial Average added 289.33 points, or 0.65%, to close at 44,713.58. Gains in Apple, Johnson & Johnson and Travelers helped lift the 30-stock index.

SPI up 14 - Newmont (NEM) sells Canada gold mine for US$675m - Fed Meeting this week.

Why not sign up for a free trial? Get access to expert market insights and manage your investments with confidence.

Ready to invest in yourself? Join the Marcus Today community.

ASX 200 up another 30 points to 8409 (0.4%). Plenty of green across the board, even resources improved in places. BHP up 0.5%, RIO up 0.3% and FMG rallying 1.0%. Gold miners eased back, EVN down 1.8% and NST off 0.6%. WGX dropped 4.8% on quarterly feedback. Lithium stocks firmed slightly, IGO confirmed the closure of its TLEA refinery, up 0.8% and LTR rallied 1.5%. Uranium stocks eased back, PDN dropped 2.2% with WDS and STO both easier on lower crude prices. Banks were firm, yet again. The Big Bank Basket rose to $261.25 (+0.4%). Financials were firm, GQG up 1.0% and AMP pushing further ahead up 5.0%. Insurers mixed. REITs firmed, SCG up 0.6% and GPT up 1.4%. Industrials stronger, led by WES up 3.2% on a broker upgrade, ALL bounced back 1.9% and healthcare firmed. PME up 0.7% and COH up 1.1%. Retail firmed with PMV soaring 6.6% and MYR up 2.6%. In corporate news, MND raised guidance, SNL profits rose 32% and KGN dropped 15.2% on issues with Mighty Ape. 4DX had a positive reaction to a deal with Qscan Radiology, and SM1 saw cream rise on very positive H2 guidance. Nothing locally on the economic front, Japan raised rates 25bps as widely expected after Core CPI rose to 3%. Asian market followed US markets higher with Japan up 0.3%, HK up 1.8% and China up 1.0%. 10-year yields steady at 4.47%.

Why not sign up for a free trial? Get access to expert market insights and manage your investments with confidence.

Ready to invest in yourself? Join the Marcus Today community.