Market Updates

 The S&P 500 rallied to record highs on Thursday after President Donald Trump called for lower interest rates and cheaper oil prices. The broad market index added 0.53%, notching an all-time intraday high for the second straight session. The benchmark finished the day at 6,118.71, surpassing its prior all-time closing high of 6,090.27 recorded in early December. The Dow Jones Industrial Average advanced 408.34 points, or 0.92%, to 44,565.07, while the  Nasdaq Composite rose 0.22% to 20,053.68. Thursday marked the fourth straight winning session for all three major indexes.

HEADLINES

• S&P 500 touches all-time high with focus on Trump comments, earnings.
• ASX to rise, Wall St hovers near highs, oil eases – SPI up 29
• Trump tells Davos he will demand lower interest rates, oil prices.
• Trump says he wants to meet Putin soon to ensure end of Ukraine war.
• US labor market stays on solid footing early in the year.
• BOJ likely to raise rates to highest in 17 years, signal more hikes.
• UK's Reeves promises changes in March if needed to meet budget rules.
• Putin growing concerned by Russia's economy, as Trump mulls more sanctions.

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The ASX 200 took a tumble today down 51 points to 8379 (0.6%) as resources came under pressure on Trump tariffs fears. Asian markets were resilient and iron ore unchanged in Singapore, but miners still sold off. BHP down 1.7% with FMG off 2.2% on quarterly numbers, lithium also under pressure too with PLS down 3.7% and MIN off 3.3%. Gold miners eased and uranium stocks help relatively firm. Banks held steady with the Big Bank Basket at $260.17. Financials slipped slightly, ASX off 1.2% with insurers mixed. QBE up 1.0% and IAG down 0.5%. Industrials saw modest broad-based losses, retail slid, JBH down 2.2% and WES off 1.5%. Both WOW and COL fell and ALL dropped 2.7% with tech mixed, XRO up 1.1% and WTC off 0.4%. In corporate news, PMV and MYR voted yes to the deal. FMG had production numbers in line, PPS jumped on FUA numbers and EVN dropped 3.9% on broker research. Nothing on the economic front locally, BoJ tomorrow widely expected to raise rates. Asian markets firm Japan up 0.8%, HK up 0.2% and China up 0.6%. 10-year yields rising to 4.47%.

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Stocks climbed on Wednesday, with the S&P 500 hitting a fresh all-time high, as Oracle and Nvidia rallied on artificial intelligence optimism and President Donald Trump’s new term in office.

The S&P 500 advanced 0.61% after hitting an intraday record of 6,100.81, exceeding the last milestone touched in December before the market pullback. The broad index closed at 6,086.37, slightly below its all-time closing high.

The Nasdaq Composite popped 1.28% to 20,009.34, underscoring the outperformance of tech names. The Dow Jones Industrial Average rose 130.92 points, or 0.3%, to 44,156.73, boosted by Procter & Gamble’s gain of nearly 2% on the back of strong earnings.

SPI down 35 - OFL gets another bid - Gold up - Oil down - PMV and MYR vote today.

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The Dow Jones Industrial Average added 537.98 points, or 1.24%, to finish at 44,025.81. The S&P 500 gained 0.88% to end at 6,049.24, while the Nasdaq Composite rose 0.64% to 19,756.78. 3M climbed more than 4% after earnings came in better than analysts expected. Small-cap stocks also participated in Tuesday’s rally, with the Russell 2000 rising about 1.9%.

Netflix is up 13% on after-hours results.

ASX SPI up 32 - Gold up again - Oil falls - WDS -PDN - ILU Quarterlies

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ASX 200 greeted the Trump era with volatility. The ASX 200 finished up 55 points to 8402 (0.7%), having sprinted out of the blocks early on tariff news and then collapsing as Mexico and Canada were threatened with a Feb 1 kick-off. Welcome to the funhouse. Across the board gains ultimately stuck, banks moved higher again on Macquarie upgrades, the Big Bank Basket ran to $257.96 (+1.2%). NAB up 2.1% and insurers moved higher, QBE up 0.9% and AMP up 2.5% with GQG up 3.3%. HUB up 11.0% on a FUA update. REITs flat, GMG down 0.6% and VCX off 0.5%. Industrials firm, but unexciting, JBH bounced 3.3% with WES up 1.6% on Catch news, REA did well up 2.8% and tech was slightly higher. The All-Tech Index was up 0.7%. Resources saw buyers back, iron ore miners up, BHP up 0.9% and RIO pushing 0.4% higher. Gold miners were better, NST on quarterly numbers, EVN up 2.2% and NEM up another 0.7%. Energy stocks mixed, WDS up 0.5% and STO falling 2.2%. YAL had a good quarter. In corporate news, LTR rallied another 11.9% on latest production numbers, CVN fell 22.6% on another delay to El Dorado. Nothing locally on the economic front, it was all about Trump. Asian markets were firm but cautious as no new tariffs were announced. So far. Japan unchanged. HK up 1.1% and CSI 300 up 0.4%. 10-year yields slid to 4.41%.

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U.S. stock market futures rose as Donald Trump was sworn in a second time.

Regular trading on the New York Stock Exchange and Nasdaq was closed for the Martin Luther King Day holiday, but there was limited futures trading.

The pan-European Stoxx 600 index closed 0.05% higher, reversing earlier losses as mining stocks led gains, up 1.2%.

S&P 500 futures closed modestly higher, up 21.75 points.

Brent crude retreated almost 1% to near $US80 a barrel.  USD falls - Crypto runs then falls back to earth.

ASX SPI up 29 - No Day One tariffs - Studies instead - BHP production report -  copper production rose 10% in the first half after its Escondida mine reached a production record.

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ASX 200 grinds 37 points higher ahead to 8347 (0.5%) of Trump’s inauguration. US markets closed tonight for Martin Luther King Day. Banks solid again with CBA up 0.8% and the Big Bank Basket up to $255.00 (0.7%). Financials were better, MQG up 1.9% and GQG better too. REITS higher, GMG up 0.6% and SCG up 1.4% with industrials also doing ok. WOW, COL and WES all solid, retail rallied, JBH up 3.0% and BAP up 2.3%. PMV eased off slightly with the vote this week, LOV gave back some of Friday’s gains. Tech a little muted with the All -Tech Index up 0.9%. Iron ore miners were better as Port Hedland reopened after the cyclone was downgraded, Singapore iron ore futures slightly better. BHP up 0.5% and RIO up 1.1%. Gold miners eased with NST down 2.6% and EVN down 1.1%. Lithium miners continue to find a few friends and short covering, PLS up 2.5% and IGO up 2.6% despite talking impairments at Kwinana. Energy stocks flat, PDN down 3.7% with DYL up 0.8% on a broker upgrade. In corporate news, IFL granted DD to CC, KAR was plugged and abandoned with a Who Dat well. SGR fell 17.9% on uncertainty unless it can find funding. INR jumped 20.6% on a US government loan. FND is up 25.0% on acquisition and update. In economic news, China left rates unchanged as expected. Asian markets better with Japan 1.2%, HK up 2.3% and CSI up 0.9% on hopes for a Trump visit to China. 10-year yields steady at 4.49%.

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The Dow Jones Industrial Average added 334.70 points, or 0.78%, to end at 43,487.83. The S&P 500 gained 1% to 5,996.66, and the Nasdaq Composite advanced 1.51% to 19,630.20. Big tech stocks were higher on the day, with shares of Tesla popping 3%.  Nvidia jumped 3.1%, while Alphabet shares added more than 1%.

For the week, the Dow and S&P 500 advanced 3.7% and 2.9%, respectively.

ASX SPI up 28 - US Markets closed tonight.

COMMODITIES

• Oil set for fourth week of gains on US sanctions.
• Iron ore heads for weekly gains on better China data, resilient demand.
• Gold eyes third weekly gain as markets look to Trump inauguration.
• Aluminium rises on strong Chinese data.
• Rio Tinto to form new lithium unit after Arcadium buy.
• Biden boosts loan for Ioneer's Nevada lithium mine to nearly $1bn.

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 ASX 200 dropped 17 points to 8310 ( -0.2%) finishing the week up 16 points for the week. Sums is up. Banks sold off after the huge run yesterday, CBA down % and NAB down % with the Big Bank Basket at $253.29 (-1.3%). Other financials flat, MQG down 0.1% and ZIP falling 1.0%. Insurers flat. REITs eased back, GMG solid but SCG off 0.8%.  Industrials were firm but idle, WES up 0.5% and COL up 0.8% on a broker upgrade. Utilities better with tech down, WTC off 0.8% and the All-Tech Index flat. Retail was patchy, PMV up another 1.6% and CTD pushing up another 1.7%. LOV up 7.7% on a broker upgrade. In resources, FMG pushed up 1.8% with MIN up 2.9% on China data and iron ore prices. RIO fell 0.7% as the Glencore discussions were ‘poo pooed’. Gold miners were pushing slightly higher, GMD up 1.8% and GOR up 1.7%. Lithium stocks were firmer as LTR roared ahead again up 9.5%. PLS up 2.1% too. Energy stocks slightly positive, STO up 0.6% and PDN up 1.9%. In corporate news, IFL got a 460c bid from CC Capital, AVJ opened its books to Ho Bee, LYC dropped 0.9% on quarterly and ABB swooned 5% on CEO news and then rallied 5.5%. TLX added 3.1% on EU approvals. In economic news, nothing locally, but Chinese GDP came in spot on as expected. Asian markets, Japan down 0.6%, HK up 0.2% and CSI up 0.5%. 10 year yields solid at 4.49%

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