Marcus Today Market Updates
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A twice daily podcast from the team at Marcus Today, the stock market newsletter for investors, bringing you up to speed with the latest stock market, financial and business news. Published just before market open and after market close (AEDT) from Monday to Friday.
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3 hours ago
Marcus Today End of Day Podcast – Wednesday 8th February
*ASX 200 rallies 26 points to 7530* (0.4%). Results in focus. *BLD* shows pricing power up 12.8% with *CSR* following in its wake. Resources attracting buyers again. *BHP* up 0.2% and *RIO* up 1.1% with the gold miners mixed, *NCM* up 2.6% and *NST* better by 1.0%. Lithium stocks back in demand, *PLS* up 3.8% and *AKE *up 2.9% with *LTR* doing well too, up 3.8%. Coal stocks eased back after solid gains yesterday, oil and gas mixed, *WDS* up 0.6% and *STO* down 0.3%. In the industrials, healthcare slid led by *CSL* off 0.6% and *SHL* falling 3.0%. *REITs* mixed with *GMG* up 0.1% and *GPT* down 0.9%. Tech mixed too. *CPU* down 0.4% despite yields pushing higher. The *Big* *Bank* *Basket* rose to $192.07(0.3%). *NAB* the standout up 1.0%. Insurers doing well as *SUN* reported and rose 4.6% with *QBE* up 0.8% and *IAG* up 2.8%. *MPL* also putting in a solid day up 2.0%. Mixed session in staples and retail, *DMP* falling 1.2% and *BXB* down 2.0%. In corporate news today, *AMC* fell 3.3% on results, *ELD* had to reply to an *ASX* please explain, down 5.9%. *BHP* had to shut its iron ore production due to a fatality. *WGO* finally fell to Gina after *STX* threw in the towel. *CHC* back in acquisition mode this time in Canberra and *SUN* kicked the lights out with a big jump in insurance premiums behind a profit jump, up %. Nothing on the economic front today and Asian market mixed. 10-year yields heading higher again up to 3.62%. *Dow Jones futures down 22 points and NASDAQ futures up 4 points*.
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11 hours ago
Marcus Today Pre-Market Podcast – Wednesday 8th February
US stocks rallied overnight in a volatile trading session following comments from Fed Chairman Powell regarding how long the fight to tame inflation may take. The Aussie dollar and Yen both appreciated after interest rate announcements and strong Japanese wage data, causing a decline in the US Dollar Index. US treasuries edged higher, and more than half of the companies listed on the S&P500 have now reported with ~70% beating expectations. Tech giants rallied Google +4.61%, Meta +2.99%, and Microsoft up +4.2% and Bed Bath & Beyond plummeted 45.73% after seeking a $1bn raise to avoid bankruptcy.
The *Dow Jones was up 266 points* (+0.78%). At best it was up 349 points, and at worst it was down 257 points. The *NASDAQ* rose 1.9%, and the *S&P 500* finished up 1.29%. In Europe, *Stoxx 50* +0.1%, *UK* *FTSE* +0.4%, *France's* *CAC* -0.1%, *German* *DAX* -0.2%. *SPI Futures are up 34 points* (+0.46%) this morning as US optimism spills over.
*Copper* prices rose 0.7%, as the pause in the dollar rally and stabilization in global equities pulled prices from a four-week low. Doubt still remains as Chinese demand has failed to increase following the Lunar New Year holiday period. *Gold* prices rose 0.2%, due to a slight pullback in the dollar and reactions to US Fed Chair Powell's comments. Other metals are mostly up, *Zinc* +2.85%, *Aluminium* +0.1%, *Nickel* +0.7%, *Lead* +0.7%, and *Tin* +1.5%. *Oil* prices jumped overnight *WTI* up 4.13% and *Brent* up 3.18%, due to supply shortage concerns and a positive outlook for demand recovery. Ceyhan port in Turkey will be closed until Wednesday after the earthquakes, while Saudi Arabia raised prices for Asian markets, indicating higher demand. *Bitcoin* up 0.95% overnight.
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1 day ago
Marcus Today End of Day Podcast – Tuesday 7th February
ASX 200 fell 35 points to 7504 (0.46%) after the RBA raised rates 25bps as expected though perhaps a more hawkish tilt than some had hoped for. Losses across the board accelerated, Banks sagged, *CBA* off 0.4% *NAB* down 0.5% and the *Big* *Bank* *Basket* down to $191.42 (0.3%). *MQG* edged 0.7% higher following a 9-month update, insurers better on the rate rise, *QBE* up 0.2% and *SUN* rising 0.9%. Industrials flopped around with the *REITs* down and dirty, *GMG* falling 2.3%, *SCG* off 1.0% and staples also slipping lower, *COL* down 0.9% and *WOW* off 1.2%. Tech under a little pressure but held up well all things considered. *WTC* down only 1.8% and *CPU* off 0.5%. The *All*-*Tech* *Index* fell 0.2%. Healthcare in casualty. *RMD* falling another 1.1%, *CSL* seeing profit taking down 1.2% and *SHL* sliding 3.3% on broker commentary. In resources, another sorry day as some lithium players fell again, *BHP* off 0.4% and *RIO* down 0.9%. *FMG* bucked the trend rising 0.4% and gold miners steadied with *NCM* up 1.7% and *EVN* rising 0.6%. Energy stocks firmed, *WDS* up 0.3%, and coal stocks doing very well, *WHC* up 1.9% and *NHC* rising 3.7%. In corporate news, *NXL* rose 43.7% on a court win, *TCL* slipped 0.6% lower on results and CEO retirement, *MQG* showing class again with positive results boost. In economic news, the *RBA* decision dominated all, trade surplus numbers too with a $12,237m surplus. Asian trade mixed with Japan flat and China and HK both better.
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1 day ago
Marcus Today Pre-Market Podcast – Tuesday 7th February
The Dow Jones Industrial Average lost 34.99 points, or 0.1%, to end at 33,891.02. The 30-stock index made up some ground after losing more than 240 points earlier in the session.
The S&P 500 slid 25.40 points, or 0.61%, to close at 4,111.08. The Nasdaq Composite posted the biggest loss of the three, sliding 1%, or 119.50 points, to end at 11,887.45.
Treasury bond yields rose, with benchmark 10-year yield up by nearly 11 basis points at 3.64% and the 2-year yield adding around 18 basis points to 4.483%. The ICE U.S. Dollar Index rose as much as 0.76% Monday, further contributing to the decline in stocks.
ASX futures were down 1 point to 7470. Australian shares are set for a muted open as investors await Tuesday’s policy decision by Reserve Bank.
Oil slightly better, Gold up modestly, commodities ease.
MQG and TCL the focus on Results today
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2 days ago
Marcus Today End of Day Podcast – Monday 6th February
ASX 200 slipped 19 points to 7539 (0.3%) on tepid trade as resources were sold off in lithium and gold miners. *NCM* held up the Gold Index but the reality was a broad sell off. Only *NCM,* *RIO* and *BHP* in the green today. Lithium stocks under pressure, *IGO* off 1.4% and *PLS* down 2.5% with *LTR* falling 3.9%. Gold miners hit hard as bullion fell, *RRL* down 1.0%, *SLR* off 3.6% with *NST* down 0.9%. *NCM* rallied 9.3% on news that Newmont had approached the company with a script bid. Energy stocks slightly firmer with *WDS* up 1.2% and *STO* up 0.3%. Coal stocks better, *WHC* rallying 2.9%. In the industrials, *REITs* fell back to earth with a thud. *GMG* down 2.5% and *GPT* down 2.1%. Losses across the board in industrials, Healthcare slid led by *CSL* off 0.6% and *SHL* down 2.2%. Tech weaker with the *All*-*Tech* *Index* down 1.2%. *WTC* falling 2.9% with *CPU* up again by 2.4%. Banks eased, the *Big* *Bank* *Basket* down $192.06 (0.3%) and *MQG* off 0.8%. In corporate news, *NCK* tumbled 13.0% on its results, no guidance and disappointing dividend not helping. *MFG* unchanged as FUM actually rose despite outflows slowly. *PMT* up another 9.6% on extension to the recent strike length. On the economic front, retail trade numbers with Asian markets falling as balloons pop. Japan up 0.7% HK down 2.3% and China down 1.7%. 10-year yields 3.47% again.
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2 days ago
Marcus Today Pre-Market Podcast – Monday 6th February
*Dow Jones down 128* (-0.38%). Up 126 at best, down 240 at worst. *S&P 500* up 0.42%. *NASDAQ* down 1.6% as the Thursday bubble deflated.
*In commodities* *BHP *and *RIO *dropped 0.7% and 0.6% in the US. *The oil price was down 4.25%*, the *gold price was down 4.4%*, otherwise metal prices were fairly stable. The* iron ore price dropped 1.9%*. *Lithium *also dipped a touch down 0.42%.
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5 days ago
Marcus Today End of Day Podcast – Friday 3rd February
ASX 200 closes up 47 points to 7558 (0.6%) as 10-year yields tumble and rate sensitive stocks rally. Banks leading the charge higher with *CBA* hitting records, *ANZ* screaming ahead up 2.3% and the *Big* *Bank* *Basket* up to $192.72 (1.5). *ASX* up 2.5% and fund managers cheering up, even *MFG* up 1.4%. *MQG* lagging a little. Insurers under a little pressure after *IAG* warning on margins. Industrials doing very well, *TLS* up 0.7%, *WOW* up 0.7% and *WES* rallying 1.3% with *TCL* up 0.9%. Tech better in places, *CPU* rallied 3.8% as traders squared books, *WTC* fell 2.4% and *XRO* down 0.7% with the *All* *Tech* *Index* up 0.8%. *REITS* doing well, *GMG* the star up 2.8% with *SGP* in the frame too up 3.0%. Healthcare soared led by *CSL *which is trying to break out from 4 years of slumber. Positive numbers from competitor helping up 3.0%. Resources were in a world of pain as sector rotation continues, *BHP* off 1.9% and *RIO* down 2.0% with *FMG* falling 1.3%, lithium stocks better, *PLS* up 1.9% and *AKE* up 0.8% with gold miners playing Duke of York marching up and then back down again. *NCM* down 2.9% and *NST* off 4.0%. Oil and gas finding support with *STO* up 0.9% and *WDS* up 0.7%. Coal stocks slightly better. In corporate news, JHG doing well up 12.9% in latest FUM numbers. On the economic front we got some lending numbers and Asian markets slipped on tech woes in HK. 10-year yields falling to 3.37%.
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5 days ago
Marcus Today Pre-Market Podcast – Friday 3rd February
The S&P 500 rose to its highest level in five months on Thursday as better-than-expected Meta results further improved sentiment around technology shares, which led the market lower last year.
The broader market index jumped 1.47% to 4,179.76, or its best level since August. Meanwhile, the tech-heavy Nasdaq Composite advanced 3.25% to 12,200.82, or its highest level since September. The gains come ahead of a trio of Big Tech results after the bell in Apple, Amazon and Alphabet.
Apple down 3.5% after hours, Amazon down around 5% and Alphabet down around 4.5%. Atlassian down 12%.
ECB and BoE raise rates 0.5%.
USD stronger. Gold drops 2%. Oil down 1.6%.
Catch up on all the latest with Henry Jennings on today’s Pre-Market Podcast.
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6 days ago
Marcus Today End of Day Podcast – Thursday 2nd February
ASX 200 gave back nearly all of the early gains closing up 10 points at 7512 (0.1%) as big resources saw profit-taking across the board. Had to happen at some stage. *BHP* fell 1.4% with *RIO* under serious pressure having found the capsule down 2.3%. *FMG* held up better. Gold miners were superstars, *NCM* up 3.7% with *NST* up 4.6% and *DEG* up 3.4%. Lithium stocks better, *LTR* up 2.3% and *CHN* doing well up 6.2%. *SYA* too bouncing back up 5.9%. Oil and gas stocks slid as *WDS* fell 1.0% and *STO* off 1.6%. Coal stocks ease, *WHC* down 1.2%. Industrials and tech the winners today. Tech stocks powering ahead as Meta delivered. *WTC* up 6.8%, *XRO* surging 7.5% and *ALU* up 3.5%. The *All*-*Tech* *Index* up 3.6%. *REITs* better, *GMG* up 0.9% and *MGR* up 1.7%. Interest rate sensitive stocks also doing well, *TCL* up 0.9% and *AIA* up 1.0%. Healthcare still trundling higher, *CSL* up 1.0% and *FPH* up 0.6%. *RMD* a slight struggle, off 0.7%. *Old* *Skool* platform stocks better too, *REA* up 3.0% and *CAR* up 2.0% and *SEK* doing well up 5.4%. Banks slipping off highs with the *Big* *Bank* *Basket* down to $189.89 (0.5%). Insurers falling hard with *QBE* off 4.8%. *MQG* kicks higher by 1.8%. In corporate news, *PNI* disappointed with results falling 2.7%, *ASX* has two new board members and *DRO* in a halt as it raises money. On the economic front, building permits jumped 18.5% MoM in December 2022. Asian markets mixed, HK up 0.4% the best of the bunch. *Dow Jones futures down 42 points. NASDAQ futures up 122 points.*
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6 days ago
Marcus Today Pre-Market Podcast – Thursday 2nd February
The S&P 500 gained 1.05% to 4,119.21, reversing an early decline of almost 1%. The Nasdaq Composite added 2% to 11,816.32, boosted by gains in chipmakers following strong earnings from AMD. Meanwhile, the Dow Jones Industrial Average rose 6.92 points, or 0.02% to 34,092.96 , after sliding more than 500 points at the day’s lows.
Fed chief Jerome Powell soothes the market nerves despite a 0.25% rate increase.
USD falls, gold rallies. AUD at 71.40c Commodities and oil ease.
The big news after hours was Meta and its results together with a US$40bn stock buyback. The stock rallied another 17% on the news.
Headline inflation in the euro zone came in at 8.5% in January, according to preliminary data released Wednesday. In December, the rate was recorded at 9.2%.
ECB and BoE to come tonight.
Get up to speed with Henry Jennings’ Pre-Market Podcast.
*Why not **sign up for a free trial**? Get access to expert insights and research and become a better investor.*
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Feb 1, 2023
Marcus Today End of Day Podcast – Wednesday 1st February
ASX 200 rose 25 points to 7502 (0.3%). Some caution crept in ahead of the *FOMC* meeting. Resources firmed but unspectacular, *BHP* up 0.3%, *RIO* bouncing 1.4% and *FMG* up 0.4%. Lithium stocks slightly better but no great shakes, *PLS* up 0.4% and IGO up 1.0%. Gold miners eased back especially in the second liners, *SBM*, *DEG* and *SLR*. *NST* one of the positive ones up 0.7%. Oil and gas slid with *WDS* down 1.4% and *STO* falling 1.0%. Coal stocks eased with *WHC* down 1.6%. In the industrials, tech was varied, *WTC* down 1.7% with *XRO* eking out some gains. *REITS* firmed *GMG* up 1.2% and *GPT* up 1.3%. Healthcare better, *CSL* leading up 1.2%, *RMD* up 0.4%. Banks mixed with *CBA* coming off record highs, WBC down 0.5% and the *Big* *Bank* *Basket* steady at $190.76. In corporate news, *FLT* returned from the cap raise and acquisition with the shorts running for cover, up 8.1%, well off highs.. *CCP* turned positive after 1H results up 1.7%. *TRS* *CEO* has resigned. *NUF* reaffirmed guidance. On the economic front RBA’s head economist said inflation had peaked in late 2022. In Asian news Caixin manufacturing PMI not as strong as hoped at 49.2 in January. Asian markets choppy on the news. Barely changed though. 10-year yields up to 3.57%.
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Jan 31, 2023
Marcus Today Pre-Market Podcast – Wednesday 1st February
US markets were up overnight, adding to January's rally, as signs of easing labour costs and cooling inflation helped boost the market. US treasury yields and the dollar index declined. *Exxon and GM *up* *2.2% and 8.35%* *after positive earnings releases, while* McDonald’s *and* Caterpillar *were down 1.39% and 3.52% on their results.
The *Dow Jones closed up 369 points* (+1.09%). At best it was up 378, and at worst it was down 52. The* S&P 500* was up 1.46%, and the *NASDAQ* was up 1.67%. In Europe, *STOXX 50 gained* 0.15% *FTSE* -0.17% *CAC* +0.005% *DAX* -0.2%. *SPI Futures are up 44 points* (+0.59%).
*Copper* rose 0.20% overnight following a fluctuation in prices that reached seven-month highs before falling due to the Fed's hawkish tone, which strengthened the dollar making industrial products more expensive for buyers using other currencies. Base metals showed mixed results, with *Aluminum* and *Nickel* up 1.74% and 3.07%, while *Zinc*, *Lead*, and *Tin* fell 1.11%, 0.14%, and 0.62%. *Gold* gained 0.30%, marking its third consecutive monthly increase, backed by a weak dollar and expectations around slower rate hikes from the Fed. *WTI* rose 1.26% while *Brent* fell 0.61%, despite recent data indicating a sharp rebound in Chinese manufacturing and services activity in January. *Bitcoin* up 1.97% to $23k, up 39.1% for the month.
Catch up on the latest news with Henry Jennings’ Pre-Market Podcast.
*Why not **sign up for a free trial**? Get access to expert insights and research and become a better investor.*
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Jan 31, 2023
Marcus Today End of Day Podcast – Tuesday 31st January
ASX 200 slipped 5 points to 7464 (0.1%) as an early rally reversed. The index does not tell the whole story though with huge volatility in some sectors. Some caution crept in ahead of the Fed and US results and end of month book squaring taking the wind out of the lithium sector and golds. Resources were smashed although *BHP*, *RIO* and *FMG* holding up but *S32*, *IGO* and *PLS* gave up the uneven struggle and threw in the towel short term, Quarterlies dropping all over the place. Gold miners failed to impress as *NCM* fell 1.2%, *NST* off 1.7% and *EVN* falling 2.4%. Rare earths too in the headlights, *LYC* down 3.3%, *MIN* off 3.9% and *CXO* falling 5.7% in lithium. Nasty end to the month from the resource sector. Oil and gas mixed, coal eased, *NHC* off 0.3%. Banks were flat with the *Big* *Bank* *Basket* unchanged yet again at $190.69. Insurers mixed and money managers eased, *GQG* off 4.4%. *REITs* slipped after some good sessions, *GMG* off 0.8% and *CHC* down 2.3%. Tech stumbled lower, *CPU* off 0.6% and *XRO* down 1.1%. The index dropped 1.0%. Healthcare recovered as defensives generally improved, *CSL* up 1.7% and *RMD* up 2.4% after a big drop yesterday. *WOW* flying on retail numbers up 3.8% and *COL* up 2.4%.
In corporate news, it was all about quarterlies, *MP1* were smashed 24.7% on a disappointing result, *PBH* in similar fashion as it extended its deal with NBC, down 17.4%. *SYA* dropped 11.9% on a successful ore crushing trial, *PWH* rallied hard up 5.0% on a UK acquisition and *NXD* starting to look interesting on an update, up 5.8%. *FLT* in a halt on a capital raise and UK acquistion.
On the economic front, the December retail numbers missed by a country mile and showed that the Black Friday sales pulled spending out of Xmas. We got slightly better *Chinese PMI* numbers today. In Asia, Japan eased 0.2%, HK fell 1.2% and China off 0.8% after a huge run. 10-year yields at 3.52%. No great shakes post retail sales numbers.
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Jan 30, 2023
Marcus Today Pre-Market Podcast – Tuesday 31st January
US markets fell overnight weighed down by declines in the tech sector and other mega-cap shares, leading into a full week of central bank announcements and earnings reports from big-tech companies including *Alphabet* and *Meta*.
More than 100, S&P 500 companies are expected to report this week as well as the closely watched U.S employment data that may shed some light on whether progress has been made to bring inflation down. US treasury yields rose, the dollar index is up, and oil fell as the market awaits clues about the Fed’s path forward.
The *Dow Jones closed down 261 points* (-0.77%). At best it was up 77, and at worst it was down 283. The* S&P 500* fell 1.30%, and the *NASDAQ* was down 1.96%. In Europe, *STOXX 50 *-0.5% *FTSE* +0.3% *CAC* -0.2% *DAX* -0.2%. *SPI Futures are down 10 points* (-0.13%).
On the corporate front, those having earning reports due this week including Apple (-2%), Amazon (-1.6%), and Alphabet (-2.4%), Meta (3.1%) closed in the red. Meantime, Microsoft and Tesla fell 2.2% and 6.3% respectively.
Tune in to Henry Jennings’ Pre-Market Podcast to get in the know for the day ahead.
*Why not **sign up for a free trial**? Get access to expert insights and research and become a better investor.*
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Jan 30, 2023
Marcus Today End of Day Podcast – Monday 30th January
*ASX 200 fell 12 points at 7482*. *Resources *came under a little pressure as China came back online and *RIO* fessed up to losing a radioactive capsule. *RIO *down 1.1% on the news, *BHP *off 0.6% and *FMG* off 1.3%. *Lithium *stocks in demand again as Chinese producers making record profits, *PLS* up 2.0%, *AKE* up 1.1% and rare earths also doing well with *LYC* up 6.9% with *ARU* continuing 1.8% higher. Quarterlies helping sentiment. *Gold *miners steady and better in places, *SBM* up 6.1% and *NST* rallying 1.0%. *Oil *and *gas *steady with *coal *stocks steadier after a dismal day Friday, *WHC* down 0.5% and *NHC* 0.7% better. In the industrials, *REITs* continue to find buyers, *GMG* up 1.1% and *CHC* rallying 2.2%. *'Old* *Skool*' platforms better too, *REA* up 2.8% as first cab off the results rank. *Tech *better following Nasdaq higher with the Index up 2.2% and *XRO* up 3.1% with *WTC* better by 5.2%. *Healthcare *under pressure, *RMD* fell hard on results and comments, down…
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Jan 29, 2023
Marcus Today Pre-Market Podcast – Monday 30th January
The Nasdaq Composite jumped 0.95% to settle at 11,621.71, while the S&P 500 gained 0.25% to close at 4,070.56. The Dow Jones Industrial Average added 28.67 points, or 0.08%, to finish at 33,978.08.
All the major averages posted a positive week and are on pace for a month of gains. The tech-heavy index rose 4.32% and closed out its fourth week of gains. It’s on pace for its best monthly performance since July. The S&P and Dow added 2.47% and 1.81%, respectively, this week.
Tesla up 33% last week.
Big week for central banks. Fed, BoE and ECB the focus.
Catch up on all the latest with Henry Jennings on today’s Pre-Market Podcast.
*Why not **sign up for a free trial**? Get access to expert insights and research and become a better investor.*
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Jan 27, 2023
Marcus Today End of Day Podcast – Friday 27th January
*ASX 200 rose 26 points to 7494* (+0.3%) for the fourth week of gains. *Resources *and *banks *better. *BHP* leading the way up 0.6% with *FMG* in stasis after record production numbers. *Lithium *stocks saw some sector rotation as *PLS* saw some take money off the table falling 4.1% and *IGO* down 0.5%. Others rose like *VUL* and *LTR*. Gold miners fell *NCM* down 2.3% and *DEG* off 1.3% with *SBM* having a better day than Wednesday, up 5.0%. *Coal *stocks were hit hard with *WHC* down 6.6% and *NHC* off 9.0%. *Oil *and *gas *mixed despite better crude prices. *WDS* off 2.4% and *STO* flat. *Banks *did well again with the *Big* *Bank* *Basket* up to $190.55 (+1.0%). *CBA* leading the charge hitting highs up 0.9%. *ANZ* also in demand up 1.5% with *insurers *doing ok, *QBE* up 1.0% and *SUN* better by 0.8%. *REITs* firmed despite 10-year yields up to 3.56% *GMG* up 2.6% and *MGR* up 1.3%. *Tech *doing ok. *WTC* up 2.6% and *XRO* finding some support up 1.6%. The Index up 0.8%. *Industr…
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Jan 26, 2023
Marcus Today Pre-Market Podcast – Friday 27th January
* The Nasdaq Composite jumped 1.76% to settle at 11,512.41. The Dow Jones Industrial Average rose 205.57 points, or 0.61%, to end at 33,949.41, while the S&P 500 gained 1.1% to close at 4,060.43.
* GDP data released at 2.9% for the quarter annualised. Higher than forecasts.
* Tesla the focal pint on results up 11%
* Intel after hours disappointed down around 6%.
* AUD jumps to highest since June.
Catch up on the latest news with Henry Jennings’ Pre-Market Podcast.
*Why not **sign up for a free trial**? Get access to expert insights and research and become a better investor.*
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Jan 25, 2023
Marcus Today End of Day Podcast – Wednesday 25th January
*ASX 200 slips 22 points to 7468 *(-0.3%) on higher-than-expected *CPI*. Turnaround from solid open as *CPI* came in above expectation at 7.8% highest since 1990. *Resources *slid a little with *BHP* off 1.0% and *RIO* down 0.7% with quarterlies dominating and *gold miners *sliding lower. *SBM* collapsed on quarterly down 21.4%, *lithium *slightly better in places, *IGO* up 0.3% and *MIN* falling 2.2% on delays at Mt Marion. *Energy *stocks slipped, *WDS* off 1.2% despite record production numbers, *STO* down 1.6% and *WHC* off 1,4%. *Banks *better on higher yields, *CBA* up 0.7% and *NAB* better by 0.5%. The *Big* *Bank* *Basket *up to $188.58. *MQG* better and *insurance *stocks gaining on yields. *QBE* up 1.0%. *REITs* slipped with *GMG* down 0.7% and *SCG* off 1.0%. *Tech *down, *WTC* unchanged on an acquisition. *XRO* under pressure down 2.8% and the *All*-*Tech* *Index* down 1.3%. *Healthcare *down too, *CSL* off 0.6% and *RHC* off 1.0%. In corporate news, *NWS* and Fox will not…
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Jan 24, 2023
Marcus Today Pre-Market Podcast – Wednesday 25th January
The Dow gained 140.40 points, or 0.31%, to close at 33,733.96. The S&P 500 dipped 0.07% to settle at 4,016.95, while the Nasdaq Composite dropped 0.27% to end at 11,334.27.
72 of the companies in the S&P 500 have now reported with 65% of those beating consensus.
*Treasuries *were firmer with the curve flattening, ending near best levels after today's strong 2Y auction.
* Microsoft beats estimates and up 3.8% after hours.
* Murdoch has called off Fox-Newscorp Merger.
* Local CPI tipped around 7.5% Core 6.5%.
Get up to speed with Henry Jennings’ Pre-Market Podcast.
*Why not **sign up for a free trial**? Get access to expert insights and research and become a better investor.*
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Jan 23, 2023
Marcus Today Pre-Market Podcast – Tuesday 24th January
The Nasdaq Composite surged 2.01% to finish at 11,364.41, while the Dow Jones Industrial Average rose 254.07 points, or 0.76%, to end at 33,629.56. The S&P 500 added 1.19% to settle at 4,019.81.
Tesla and Apple gained on hopes that a reopening in China would boost their businesses. Both big tech names recently grappled with temporary shutdowns and blows to production as the country dealt with surging Covid-19 cases.
Semiconductor stocks rose Monday, with the Semi Conductor ETF surging 4.7% for its best day since November.
Tune in to Henry Jennings’ Pre-Market Podcast to get in the know for the day ahead.
*Why not **sign up for a free trial**? Get access to expert insights and research and become a better investor.*
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Jan 23, 2023
Marcus Today End of Day Podcast – Monday 23rd January
ASX 200 closed up 5 points to 7457 (0.1%) in thin trade as resources slipped slightly on Lunar New Year with *BHP* down 1.1% and *FMG* off 1.0%. Lithium and base metals picked up led by *PLS* up 6.2% with *IGO* up 3.1% and *LTR* bouncing from Friday’s sell off, up 6.9%. Base metals and other commodity stocks did well, *NIC* up 3.2% and *SYR* up 1.3%. Gold miners too in demand, *NCM* up 0.5%, *DEG* up 0.3% and *SBM* doing well up 5.3%. Oil and gas stocks better, *KAR* up 7.4% on a reserve upgrade, *WDS* up 1.7% and *STO* still stuck in a hollow. Banks unchanged as Macquarie downgraded the outlook for the big four, *Big Bank Basket* $188.93, *MQG* up 0.7% and *QBE* doing well up 0.4%. Tech stocks in demand as *SQ2* rallied 6.1% dragging *ZIP* with it by 22.8% and *SZL* numbers helping too rising 38.9%. *XRO* up 1.4% and *CPU* rallying 1.2% too. The *All-Tech Index* up 1.3%. Industrials firm but unexciting. Healthcare mixed, *REITS* better with *GMG* down 0.8% letting the side down. In…
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Jan 22, 2023
Marcus Today Pre-Market Podcast – Monday 23rd January
The Dow Jones Industrial Average added 330.93 points, or 1%, to close at 33,375.49, while the S&P 500 advanced 1.89% to 3,972.61. Both indexes snapped a three-day losing streak. Meanwhile, the Nasdaq Composite rose 2.66%, with help from Netflix and Alphabet, to end the day at 11,140.43
* Wall Street climbs on Alphabets, Netflix lift.
* Netflix subscriber growth easily tops expectations.
* Stocks gain, dollar jumps.
* Google parent to lay off 12,000 workers as AI focus intensifies.
* China kicks off Lunar New Year holiday.
* For Chinese Lunar New Year tourists, retailers roll out rabbit dances, red lanterns.
* China plays down COVID outbreak with holiday rush at full tilt
* Iron ore futures buoyed by China demand sentiment despite early week slump.
* Oil up more than 1% on track the second week of gains on China demand outlook.
* Gold eases as dollar ticks up, but set for fifth weekly rise.
* Global refined copper market swings to deficit in November.
* Fortescu…
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Jan 20, 2023
Marcus Today End of Day Podcast – Friday 20th January
*ASX 200 finished the week well up 17 points to 7452 *(+0.2%) at a nine-month high, with big *resources *driving things higher. *BHP* heading up on broker positivity up 0.5% with *RIO* up 1.0%, *gold *miners doing well too, *NCM* up 2.4% and *NST* rallying another 3.2%. *PLS* was the standout after its huge cash pile just keeps on growing, up 13.2% and *MIN* up 1.8%. In *lithium *we trust, except for *LTR* which cratered 8.3% on a Kathleen Valley update with some cost blowouts (more funding required?). *Base metals *were firm, *S32* up 0.2% and *LYC* up 2.2%. *Oil *and *gas *stocks continuing higher, *WDS* up 0.7% and *STO* seeing friends after quarterly, up 1.5%. *Coal *stocks soaring as *WHC* delivered rising 6.2%. *Banks *stuck with the *Big* *Bank* *Basket* unchanged at around $189.01. Other *financials *eased back, *money managers *down *MQG* off 0.7% and *ASX *off 0.8%. *Insurers *slightly better. *Industrials *mixed, *healthcare *saw some profit-taking as *COH* dropped 1.2% and…
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Jan 19, 2023
Marcus Today Pre-Market Podcast – Friday 20th January
US markets are down overnight for the third straight day as concerns for global recession mount with more US Fed officials taking a hawkish stance after new economic data pointed to a tight labour market. European markets fell from ECB Christine Lagarde’s comments at Davos and the Yen appreciates against the greenback following BoJ’s policy decision the previous day.
The *Dow Jones closed down 252 points* (-0.76%). At best it was down 69, and at worst it was down 315. The* S&P 500* fell 0.77%, and the *NASDAQ* was down -0.96%. In Europe, *STOXX 50 *-1.9% *FTSE* -1.1% *CAC* -1.9% *DAX* -1.7%. *SPI Futures are down one point* (-0.01%).
*Commodity* prices dropped overnight, with *Copper* down 0.5% due to declining short-term demand. China's Lunar New Year celebrations and slowing economies in the West are pushing metal prices lower. *Lead* down 2%, *Tin* down 1.2%. *Aluminium* dropped 1.7% as smelters possibly begin reopening after temporarily shutting down due to high energy costs,…
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Jan 19, 2023
Marcus Today End of Day Podcast – Thursday 19th January
ASX 200 shook off early apathy post the jobs number and *BHP* quarterly and saw the *ASX 200 up 42 points to 7435* (+0.6%). SPI and ETO expiry helping volumes. *Resources *led the charge higher with *BHP* up 1.2%, *RIO* sprinting ahead 3.3% and *FMG* doing well up 1.7% ahead of Chinese New Year and better ore prices. *Lithium *stocks remain under some pressure, *PLS* up only 0.3% and *IGO* up 0.9% with some *base metal *stocks falling, *NIC* returned from a trading halt falling 6.7% towards placement price. *Gold *miners were steady but unspectacular. *NCM* up 0.9% and *NST* rising 1.0%. *Oil *and *gas* stocks eased, *WDS* down 0.6% and *STO* down 1.6%. *Coal* stocks better. *Industrials *firm with *TLS* up 1.5% and *TCL* enjoying lower bond yields up 1.5%. *REITs* too slightly higher, *GMG* up 0.6%. *Tech *stocks in the naughty corner, *CPU* down 0.1% and *XRO* off 1.1%. The *All*-*Tech* *Index* fell 0.5%. *Healthcare *better and *banks *heading higher again. The *Big* *Bank* *Basket*…
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Jan 18, 2023
Marcus Today Pre-Market Podcast – Thursday 19th January
US markets fell overnight, with the Dow down 1.81% as two Fed Officials called for continued interest rate increases off the back of weak retail sales data showing consumers are retrenching but still exceeded estimates.
The *Dow Jones closed down 614 points* (-1.81%). At best it was up 106 points, at worst it was down 641 points. The *NASDAQ *declined 1.24%, as rate-sensitive sectors declined, *Tesla* down 2.06% *Amazon* down 0.61%, and *Microsoft* down 1.89%. The *S&P 500* fell 1.56%. In Europe, *STOXX 600* +0.23%, *FTSE* -0.26%, *CAC* +0.08%, and *DAX* -0.03%. *SPI Futures are down 31 points*.
*HEADLINES*
* BOJ has markets bracing for more bond, FX turmoil as shift seen inevitable.
* Wall St closes lower after weak data, hawkish Fed comments.
* Bed Bath & Beyond looks for buyer ahead of potential bankruptcy filing – CNBC.
* Oil eases 1% as U.S. recession worries offset China recovery hopes.
* U.S. dollar tumbles after weak data; yen flat as BOJ impact fades.
* China…
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Jan 18, 2023
Marcus Today End of Day Podcast – Wednesday 18th January
*ASX 200 closes up 7 points at 7393* (0.1%) in another tight-range day. Tiny late surge. Seems *BoJ *was not a catalyst after all. The song remains the same from the central bank. Good times and bad times from resources as Chinese authorities once again shake a waggly stick on iron ore prices. *BHP *down slightly,* FMG* up 0.8%, *RIO* up 1.1% and *MIN* up 0.3%. *Lithium *stocks remain dazed and confused. *PLS *down 1.5%, *IGO* off 2.8%. Not a whole lotta love for gold miners today either, as *NCM* fell 1.8% and *NST* off 1.7%. *Coal *stocks had a celebration day, with *WHC *up 2.9% and *NHC *better by 3.0%. *Healthcare *stocks were on a stairway to heaven as *CSL* rose 0.8%,* RMD *bucked up 2.3% on broker upgrades, with *FPH *also doing well. *Industrials *mixed as *REITS* fell a little, old skool stocks rambled on, *REA* up 0.1% and *SEK* better by 1.0% with bond proxies trampled under foot, *TCL* off 0.5% and *ALX* off 2.0%. *Banks *becalmed with the *Big Bank Basket* unchanged at $1…
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Jan 17, 2023
Marcus Today Pre-Market Podcast – Wednesday 18th January
*The Dow Jones fell 392 points (-1.14%) *the *NASDAQ* finished 0.14% higher and the* S&P 500* lost 0.20%. European markets were mostly higher, with *STOXX* *600* +0.40%, *UK* *FTSE* -0.12%, *France* +0.48%, *Italy* +0.31%, *Greece* +0.59%, and *German* *DAX* finished +0.35% higher. *SPI Futures are up 14 points* (+0.19%).
In commodities, *Copper rose to a 7-month high on Chinese demand despite data pointing to weak demand in the near term.* *Aluminium* was down 0.1% as data showed China’s aluminium production grew by 4.5%. *Zinc* and *tin* were down 0.3% and 0.1%. *Nickel* and *lead* were up 1.7% and 0.1%. *Gold *fell overnight from an 8-month high on hopes the Fed would take a less aggressive stance on interest rates. *Iron *ore down 1.1% overnight. Goldman-Sachs saying *gold* could hit $1950/oz in 2023 thanks to the Lunar New Year Holiday in China. *Brent* *Oil* and *WTI* were up 2.97% and 1.73%, the highest level since December on hopes of global demand increasing.
Tune in to He…
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Jan 17, 2023
Marcus Today End of Day Podcast – Tuesday 17th January
ASX 200 closes down 2 points to 7386 (0.03%) in tight trading ahead of US reopening tonight and more results to come. Resources suffering today after iron ore stocks came under some pressure on Chinese moves. *BHP* failed to hold all-time highs falling 1.3% with *RIO* reporting quarterly today down 1.2% and *FMG* off 1.3%. Gold miners were in profit taking mode after the big run, *NCM* down 1.8% and *NST* off 1.5% as some brokers moved to negative recommendations. Lithium stocks remain under some pressure as did base metal stocks, *S32* down 2.9% and *IGO* off 0.9%. Energy stocks mixed, oil stocks better led by *WDS* up 0.2% but coal not such a merry old soul after all, *WHC* off 2.3%. Banks gave up some early gains and were the swing in the market with the *Big* *Bank* *Basket* unchanged at $187.95 . Insurers slightly better but fund managers gave up yesterday’s gains. *MQG* down 0.4%. Defensive industrials firmed, *CSL* up 1.3% and *RMD* rallying 1.7%. *WOW* *COL* and *EDV* all hav…
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Jan 16, 2023
Marcus Today Pre-Market Podcast – Tuesday 17th January
*US Markets closed for Martin Luther King Jr Holiday.*
* SPI Futures down 18 points.
* Gold eases as USD rallies slightly.
* US Dow Futures down around 38 points.
* Commodities mixed Copper down 1%.
* Oil down 1.3%
European equity markets closed higher on Monday, with the STOXX 600 extending its 2023 rally to a fresh nine-month high led by retail, financial and media stocks. Domestically, the German DAX added 0.4% to above 15,139 for the first time since mid-February.
*Davos 2023 – The World Economic Forum in Davos Starts Today.*
* Big Oil insights of climate activist protests.
* Greta Thunberg's attendance at Davos a hot topic of conversation.
* Recession casts long shadow over opening of WEF Summit.
* Global recession in 2023 seen as likely in WEF survey.
* PwC survey says CEOs are the most gloomy on growth in a decade.
* Survey says two thirds of economists expected global recession this year.
* 18% of economists say recession this year is “extremely…
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Jan 16, 2023
Marcus Today End of Day Podcast – Monday 16th January
*ASX 200 closed up another 60 *points to 7388 (0.8%) as *banks *took up the baton again. The *Big Bank Basket* rose to $187.82 (0.95%). *CBA *up 0.8%, *WBC *up 0.7% with *fund managers *up strongly too, *MFG *up 2.9% and *GQG *up 2.6%. *Insurers *steady. *REITs *better again on rate outlook. *GMG *up 2.2% and *SGP *up 1.9%. *Tech *stocks also doing well with *WTC *up 4.0% and *XRO *up 4.6% with the *Index *up 2.6%. Lower rates helping. *Industrials *firmed, *TCL *up 1.3% and *WES *up 1.2%. *Healthcare *stocks firmed, *CSL *up 1.4% with *SHL *up 1.9% and *FPH *rallying 2.9%. Meanwhile, *iron *pre-stocks eased back from highs as China looks to clamp down on price rises. *BHP *up 0.1% with *FMG *under pressure, off 2.1%, *Gold *miners better, *NCM *up 2.4% and *NST *up 2.9%. *Lithium *stocks struggling to gain traction, *INR *doing well up 21.9% on US deal. *Oil *and *gas *stocks better, *WDS *up 1.6% and *WHC *up 2.4%. In corporate news, *SUL *had a positive business update rising 7.7%,…
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Jan 15, 2023
Marcus Today Pre-Market Podcast – Monday 16th January
*Dow Jones up 113 points *(+0.33%). Up 152 at best, down 274 at worst. Dow Jones up 2.0% for the week. S&P 500 up 0.41% and up 2.7% for the week. NASDAQ up 0.73% and up 4.8% on the week, the biggest weekly gain in two months. So far this month the S&P 500 is up 4.2%, the Dow Jones up 3.5%, the NASDAQ up 5.9%. At the same time, the VIX Volatility index is at a one-year low.
*A good start to the US results season* with all four major investment banks higher on the back of results with some beating estimates. We have Morgan Stanley and Goldman’s results on Monday.
* JPMorgan up 2.5% on results. Beats estimates.
* Citigroup up 1.7% on results.
* Bank of America up 2.2% on results.
* Wells Fargo up 3.2% on results.
* UnitedHealth up 12.4% on results.
* Goldman Sachs and Morgan Stanley results on Monday.
Catch up on all the latest with Henry Jennings on today’s Pre-Market Podcast.
*Why not **sign up for a free trial**? Get access to expert insights and research and become…
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Jan 13, 2023
Marcus Today End of Day Podcast – Friday 13th January
*ASX 200 closed up 48 points to 7328* (0.7%) as the rally started to run out of juice in the short term. *Banks *took up the baton as the *Big* *Bank* *Basket* rose to $186.05 (+1.2). *CBA* up 1.3% and *NAB* up 1.6%. *MQG* rallying another 0.7% with insurers better, *QBE* up 0.8%. *REITs* continued to push higher with *SGP* up 0.5%, *SCG* up 1.4% and *Fund* *Managers *also better, *GQG* up 3.3% and *MFG* up 2.6%. *Industrials *were strong, *TLS* up 0.3%, *WES* up 0.7% and *TCL* ahead by 1.1%. ‘Old Skool’ platforms rallied too, *REA* up 3.6% and *SEK* up 3.9%. New *tech *better, *WTC* up 1.4% and *XRO* up 0.6%. The *All*-*Tech* *Index* up 1.2%. *Resources *were mixed, *BHP* better by 0.5% as it eyes $50. *RIO* up 0.9% and *gold miners *better but hardly the stuff of dreams today. *Lithium *stocks under some pressure with *PLS* down 4.1% and *IGO* off 1.9%. *Energy *stocks up with *WDS* up 1.2% and *STO* up 2.4% with *coal *stocks bouncing *YAL* up 1.6% and *NHC* up 5.1%. In corporat…
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Jan 12, 2023
Marcus Today Pre-Market Podcast – Friday 13th January
Bond yields tumbled overnight as US inflation slowed for the sixth straight month in line with expectations, opening the door for the Fed to downshift on rate hikes. The *Dow Jones closed up 217 points*. At best it was up 320 points, and at worst it was down 181 points, in a volatile trading day. The *NASDAQ* rose 0.64% and the *S&P 500* finished 0.33% higher. In Europe, *Stoxx 50* +0.7% *FTSE* +0.9% *CAC* +0.7% *DAX* +0.7%. *SPI Futures are up 34 points* (+0.47%).
*Commodities* – Copper proving unstoppable overnight as it continues to reach a 7-month high, up 0.6% as US consumer prices unexpectedly fell causing the prices to surge. Base metals all positive, *nickel* up 0.6%, *lead* up 0.4%. While *Zinc, Tin, *and* Aluminium* lead the way, up 1.2%, 2.3%, and 1.4% respectively. Gold rose 1% overnight as softening inflation data gave traders confidence. *Brent* *Crude* and *WTI* both continue to rise as China ramps up imports, up 1%. *Iron Ore* up 0.21% despite China claiming they wil…
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Jan 12, 2023
Marcus Today End of Day Podcast – Thursday 12th January
ASX 200 surged again as resources boomed, the index up 85 points to 7280 (1.2%). Big miners in demand with *BHP* up 1.8% to another 52-week high, *FMG* up 2.8% and *RIO* up 1.5%. Lithium and rare earths better too, *PLS* up 4.5% and *LYC* up 2.1%. Gold miners mixed, *NCM* down 0.6% and *NST* up 0.9%. Energy stocks a little mixed, coal stocks eased, *SMR* down 2.5% *WHC* off 1.4% while oil stocks better, *WDS* up 2.1%, *STO* up 1.0%. Industrials once again firm but unexciting. *REITs* taking their cue from US peers and lower 10-year yields, *GMG* up 1.5%, *SCG* up 1.0%, healthcare up led by *CSL up 1.2*. Others slightly firmer. Banks another strong sector with the *Big* *Bank* *Basket* shaking off its recent torpor, up to $183.73 (1.6%). *MQG* rallied 1.6% as Goldman Sachs wields the axe. In corporate news, *MAF* downgraded expectations, falling 10.7%, *GOR* stumbled 3% lower with production 14% below consensus, the *PDL*/*PTM* deal is done and dusted. *IRI* flags an EBITDA rise but war…
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Jan 11, 2023
Marcus Today Pre-Market Podcast – Thursday 12th January
Markets continue to gain as investors hope for a downshift in Fed interest rate rises, After suffering for the past year on interest rate rises Tech lead gains overnight on hopes of a dovish Fed. The *Dow Jones was up 269 points* (0.8%). At best it was up 271 points, and at worst it was up 7 points. The *NASDAQ* rose 1.76%, and the *S&P 500* finished up 1.28%. In Europe, *Stoxx 50* +1.04%, *UK* *FTSE* +0.4%, *France's* *CAC* +0.8%, *German* *DAX* +1.17%. *SPI Futures are up 57 points* (+0.80%) this morning as the US optimism spills over.
Catch up on the latest news with Henry Jennings’ Pre-Market Podcast.
*Why not **sign up for a free trial**? Get access to expert insights and research and become a better investor.*
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Jan 11, 2023
Marcus Today End of Day Podcast – Wednesday 11th January
*ASX 200 rose 64 points to 7195* (0.9%) in a good bounce led by resources. Even a better *CPI* number couldn’t hold the Mustangs down. Gold miners bounced back after falls yesterday, iron ore miners *BHP,* *FMG* and *RIO* all better by close to 2% and even lithium stocks had a day in the sun. *PLS* up 2.8% and *AKE* with a broker upgrade up 5.1%. Base metal stocks in demand. *S32* up 1.1% and *IGO* up 5.2%. Energy stocks better too, *WDS* up 1.5% and *BPT* doing OK. *REITs* did well despite no move on the yields, *GPT* up 1.2% and *GMG* up 2.9%. E-commerce is the place to be apparently. Industrials were firm but unexciting. Tech better with *WTC* up 1.2% but *XRO* falling 3.3% on UK tax changes. ‘Old skool’ platforms were up, *REA* up 2.4% and *CAR* up 2.9%. Banks were becalmed with the *Big* *Bank* *Basket* at $180.90(0.3%). Insurers improved, and Fund managers also doing better, *GQG* up 2.0%. In corporate news, *SQM* is moving in the WA lithium race with a possible 20% stake i…
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Jan 10, 2023
Marcus Today Pre-Market Podcast – Wednesday 11th January
The Dow Jones Industrial Average gained 186.45 points, or 0.56%, to end at 33,704.10. The S&P 500 traded up 0.70%, to close at 3,919.25 points.
The Nasdaq Composite led the major indexes for another day, adding 1.01% to end the session at 10,742.63. The average has rallied for the past three sessions as optimism over cooling inflation pushed investors to beaten-up technology stocks. It was the index’s first three-day win streak since November.
Tune in to Henry Jennings’ Pre-Market Podcast to get in the know for the day ahead.
*Why not **sign up for a free trial**? Get access to expert insights and research and become a better investor.*
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Jan 10, 2023
Marcus Today End of Day Podcast – Tuesday 10th January
*ASX 200 closes down 20 points to 7131 *(0.3%), its first loss in four trading sessions. *Resources *slid lower as Chinese authorities look to have been spooked by the big iron ore rise recently and looking to talk prices down. *BHP* fell 0.4%, *FMG *up 0.7% after a loss yesterday, *lithium stocks *on the nose, *PLS* dropped 1.5%, *IGO* off 1.8% and *MIN* down 1.3%. *Rare earths *also in the doghouse with *ARU* down 9.1% and *LYC* off 3.8%. Second-line lithium stocks whacked, *CXO* down 5.0% and *LTR* down 1.4%. *Gold stocks *fell despite a bullion rise, *NCM* down 2.3%, *NST* down 1.9% and *DEG* off 7.9%. *Energy stocks *eased as oil came off a little. *Coal stocks *lower too. The banks held firm but no great moves, the *Big* *Bank* *Basket* was mostly unchanged at $180.38. *MQG* down 0.3% on some EU FX issues with a $71m problem. *Insurers *down, *QBE* down 2.7% and *MFG* falling 1.1%. *Industrials *drifted lower, *REITs* mixed, tech dull and unexciting. *CPU* steadied down 0.2%. In…
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Jan 9, 2023
Marcus Today Pre-Market Podcast – Tuesday 10th January
US stocks failed to hold onto the morning rally with the Dow falling in the afternoon after two Fed officials signalled that interest rates could top 5%. The *Dow Jones closed down 113 points* (-0.34%). At best it was up 305 points, at worst it was down 143 points. The *NASDAQ *rose 0.63%, supported by gains in *Tesla* up 5.93% *Amazon* up 1.49%, and *Microsoft* up 0.97%. The *S&P 500* fell 0.08%. In Europe, *STOXX 50* +1.5%, *FTSE* +0.3%, *CAC* +0.9%, and *DAX* +1.4%. *SPI Futures are down 10 points*.
*Copper* prices have hit a 6-month high, up 3.1% as hopes for increased demand from the reopening of China. The weakening of the US dollar continues to push the price of commodities up with *Zinc *up 5% and *Aluminium* up 5.8%. *Nickel* fell 2.2%. *Gold* continuing its rally, up 0.3%. *Iron* *ore* also continuing skyward on China demand, up 0.7%. *Brent* *Crude* up 1.5% and *WTI* up 1.25%. *Bitcoin* had modest gains overnight, up 3.4% after 6 days of gains.
Later in the week, investors…
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Jan 9, 2023
Marcus Today End of Day Podcast – Monday 9th January
*ASX 200 started the week up 42 points to 7154* (0.6%). A solid start but off the intraday highs. Banks somewhat lacklustre with the *Big* *Bank* *Basket* up to $180.41 (0.2). Mixed across the financials, *AMP* slipped 4.2% on a Collinmate update, *GQG* rose 5.7% on FUM and insurers slid on *IAG* update. Industrials firmed with *TCL* up 1.1%, *QAN* up 1.9% and *REITs* better with *GMG* up 1.4%. Tech a little mixed, *CPU* sold off hard down 5.5% as brokers turn bearish, *WTC* up 1.3% and the *All*-*Tech* *Index* slightly higher. In resources, gold miners shone, *NCM* up 2.8%, *NST* up 1.7% and *EVN* pushing another 2.2% ahead. Lithium shares were mildly positive, *PLS* floundered a little, off 0.8%, *CHN* rose 1.5% and *S32* up 3.8%. Iron ore miners mixed, *BHP* up 1.0% but *FMG* down 0.8%. Energy shares better, *WDS* up 1.2% and *STO* up 1.3%. Coal stocks mildly positive. In corporate news, *FMG* CFO resigns, *IGO* -Tianqi bids for *ESS* at 50c. *IMU* up 6.3% on ethics approval for Vax…
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Jan 8, 2023
Marcus Today Pre-Market Podcast – Monday 9th January
US stocks triggered a global rally overnight following a crucial US jobs report that showed wage growth slowed in December, fuelling speculation the slowdown will keep the Fed at bay from intensifying its battle with inflation. The *Dow Jones closed up 701 points* (+2.13%). At best it was up 781 points, and at worst it was up 67 points. The *NASDAQ* rose 2.56%, and the *S&P 500* finished 2.28% lower. In Europe, *STOXX 600 *+1.16%, *FTSE* +0.87%, *CAC* +1.47%, *DAX* +1.20%.
* 200K non-farm payolls number versus 263,000 in November.
* "Softening trend" taken positively.
* Lower than expected (225K expected).
* Unemployment rate at a new low of 3.5%.
* Average hourly earnings up 4.6% in December down from 4.8% in November.
* The US dollar dropped sharply.
* US bond yields fell.
* The equity markets bounced setting a new hope for a market rally this month based on an inflation peak.
*Commodities *– Most commodities rallied overnight following the US jobs report. All bas…
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Dec 22, 2022
Marcus Today Pre-Market Podcast – Friday 23rd December
The Dow Jones Industrial Average fell 348.99 points, or 1.05%, to 33,027.49 — after falling as much as 803.05 points earlier in the session. S&P 500 declined 1.45% to 3,822.39. Meanwhile, the Nasdaq Composite was 2.18% lower at 10,476.12.
This decline follows a 526-point rally in the Dow on Wednesday after better-than-expected earnings from Nike.
So far in December, the Dow is down 4.52%, while the S&P 500 and Nasdaq have tumbled 6.32% and 8.65%, respectively.
In commodities, base metals are mostly down as the US dollar climbed. *Zinc*, *tin*, and *copper* were the biggest losers falling 1.9%, 1.08%, and 0.84%, respectively while *lead* and *aluminium* rose 0.1% and 0.59%. *Copper* prices are down ~15% this year as demand eroded and data suggests interest rates will remain higher for longer applying pressure on growth. *Brent* *crude* and *WTI* are both down 0.95% and 0.69%. *BHP* and *RIO* are also both down 2.04% and 0.72%, respectively, in ADR terms. *Gold* fell 1.1% and *bitcoi…
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Dec 22, 2022
Marcus Today End of Day Podcast – Thursday 22nd December
ASX 200 finished up 37 points to 7153 (0.5%). A thin and directionless day despite the rise. Investors are winding down. Resources mixed after the *29M* production issue caused them to fall hard down 22.2% with *BHP* and *OZL* announcing the deal is done. Now to regulatory issues and timing. Lithium stocks continue to slip as brokers pile on with downgrades. Oil and gas stocks slightly firmer with *WDS* up 0.2%. Limited moves elsewhere. Gold miners gave back some gains with *NCM* off 1.1% and *NST* down 0.8%. Industrials firmed again with *REITS* doing well despite yields pushing higher again. *GMG* up 1.3% and *SCG* up 1.4%. Tech stocks better as *WTC* rose 1.5% and *XRO* up 1.6% with the *All* *Tech* *Index* up 1.8%. Banks slightly better as the *Big Bank Basket* rose to $183.70 (0.6). *MQG* rallied 0.5% and Fund Managers were better, *MFG* up 2.3% and *GQG* up 2.6%. Healthcare in rude health today, *CSL* up 1.2% and *COH* gaining 2.7%. In corporate news, *KGN* rescued a small furnit…
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Dec 21, 2022
Marcus Today Pre-Market Podcast – Thursday 22nd December
US tech stocks drove markets up last night off the back of better-than-expected earnings reports and an improvement in consumer confidence. The *Dow Jones* rose 527 points (+1.6%). At worst it was up 178 points and at best it was up 588 points. The *NASDAQ* finished the session up 1.54%, the *S&P 500* gained 1.49%. In Europe, *STOXX* *600* was up 1.17%, *FTSE *+1.7% *DAX *+1.5%* CAC* +2.0%. *SPI* *Futures* *are up 41 points* (+0.53%).
Commodities rallied overnight, most base metals continued their rally as the US dollar continued to drop. *Nickel* and* lead* flying ahead, up 4.33% and 1.33%, respectively. While a*luminium*, c*opper *and* tin *rose 0.63%, 0.23% and 0.65%, respectively. The only base metal to drop overnight was Zinc, falling 2.57%. Oil prices performed well, *brent* *crude* *up 3.16%* and *WTI up 2.97%*. *Coal* was unchanged, *natural* *gas* up 0.11%, nowhere near enough to claw back yesterday’s losses. *Gold* was *down 0.16%,* and *bitcoin* fell 0.8% overnight.
*…
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Dec 21, 2022
Marcus Today End of Day Podcast – Wednesday 21st December
ASX 200 closed up 91 points at 7115 (1.3%) reversing the 110-point BoJ inspired loss of yesterday. Gains across the board although the banks were slightly muted but then they didn’t fall yesterday. *CBA* slid 0.6% and the *Big* *Bank* *Basket* square again. Insurers rose on higher bond yields. *REITs* too rose bouncing back on the same bond yields. *QBE* up 1.5% and *SUN* up 2.1% with *GMG* bouncing 2.3% and *MGR* up 2.4%. Healthcare bounced somewhat anaemically, *CSL* mustering a 0.5% rise. Industrials slightly higher but no great oomph! *TCL* up 0.4%, *REA* bounced 2.0% and *DHG* under pressure again down 1.2%. The action was in the resources as *BHP* rose 2.4%, *RIO* up 1.7% and *FMG* rallying 3.0%. Lithium stocks were mixed despite 30% higher prices from *PLS* but cost overruns for expansion hampered sentiment. Gold miners were the stand outs as bullion ran again, *NST* up 4.0%, *SBM* up 8.0% and *NCM* up 6.5%. Screaming ahead, maybe more USD weakness ahead. Energy stocks also ba…
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Dec 20, 2022
Marcus Today Pre-Market Podcast – Wednesday 21st December
US markets finished higher after a choppy session, as the shock from the Bank of Japan’s sudden move was felt throughout global markets. The *Dow Jones* climbed 92 points (+28%). At worst it was down 108 points and at best it was up 235 points. The *NASDAQ* traded in a narrow range and finished the session up 0.01%, the *S&P 500* gained 0.10%. In Europe, *STOXX* *600* was down 0.4%, *FTSE* up 0.1%, *DAX* down 0.4%, and *France* down 0.35%. *SPI* *Futures* *are up 58 points* (+0.83%), despite soft leads from the US.
In commodities, base metals rallied overnight thanks to the US dollar weakening helping make dollar-priced metals cheaper for buyers using other currencies. *Nickel*, *zinc,* and *tin* leading the charge up 3.43%, 2.14%, and 1.83%, respectively. *Aluminium* *up 0.19%* finding support from a weakening US dollar and a steep fall in inventories tradable on the LME. Oil prices mixed, *brent* *crude* *down 0.57%* and *WTI up 1.16%*. *Coal* was unchanged, *natural* *gas* took a…
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Dec 20, 2022
Marcus Today End of Day Podcast – Tuesday 20th December
ASX 200 crashed 110 points to 7024 (1.5%) today on a killer combo of weaker US, *RBA* minutes and the shock of the BoJ effectively letting rates drift higher. 10-year yields jumped to 3.71% and banks at least held their ground on the jump but everything else, well Split Enz summed it up. I See Red! Maybe more Martha with no where to run, no where to hide. Except banks with the *Big* *Bank* *Basket* unchanged at $182.68 *MQG* fell hard 1.6%, Insurers better, just, Fund managers turned lower, *MFG* down another 2.0%, *AMP* off 1.5%. Healthcare in *ICU* with *CSL* down 0.9% and *FPH* off 2.0%, *RHC* down 2.5% and *RMD* easing back. *REITS* were smashed on higher interest rates, *GMG* down 4.5%, *SCG* off 3.8% and *DXS* down 2.4%. Old skool platform stocks dropped hard as *DHG* revealed surprisingly weak listing numbers. *REA* followed down 7.7% and *CAR* off 3.3% with *SEK* not found off 5.5%. Industrials hit hard, *WES* down 3.4%, *ALL* off 4.5% and *DMP* falling 4.0%. Resources though b…
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Dec 19, 2022
Marcus Today Pre-Market Podcast – Tuesday 20th December
Stocks in the US have fallen for a fourth consecutive day as traders continue to assess The Fed’s plan following the central bank’s comments vowing to keep raising rates until they’re confident inflation is coming down meaningfully. The *Dow Jones closed down 163 points* (-0.49%). At best it was up 118, and at worst it was down 338. The* S&P 500* fell 0.9%, and the *NASDAQ* was down -0.76%. In Europe, *Stoxx *50 +0.2% *FTSE *+0.4% *DAX *+0.4% *CAC *+0.3%. *SPI Futures are down 27 points* (-0.38%).
Markets are still wary following the Fed’s comments last week, and other central banks maintaining a hawkish tone. Adding to this, former New York Fed President William Dudley said optimistic markets could only make the central bank tighten further. While the US home builder sentiment for December fell to levels not seen in the last 10 years, besides during the pandemic. With high mortgage rates and construction costs factoring into the reading. US bond yields were up overnight, with…
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Dec 19, 2022
Marcus Today End of Day Podcast – Monday 19th December
ASX 200 closed down 15 points to 7134 (0.2%). Volumes starting to thin out pre Xmas. Not a bad performance considering US falls. Resources once again finding support with *BHP*, *RIO* and *FMG* all in the green. Gold miners too showing good strength today with *NST* up 3.4%, *EVN* up 4.3% and *NCM* down 0.3% on news of the CEO retiring. Lithium stocks trying hard and failing in places to find support. Oil and gas stocks better as oil prices rising in Asia. *WDS* up 0.4% and coal stocks ahead, *WHC* up 3.1% and *YAL* better by 2.3%. Base metals stocks better too. Banks were mixed but more drift than pressure, *CBA* down % with the *Big* *Bank* *Basket* down to $182.86 (0.3%). Insurers fell despite 10-year yields picking up. *SUN* down 0.3% and *QBE* down 0.9%. Healthcare fell led by *CSL* off 1.1% and *RMD* down 0.9%. Industrials mainly weaker, *COL* off 1.3%, *ALL* off 2.0% and *SGR* getting smashed on *NSW* tax changes down 17.8%. *REITs* fell on higher rates, *GMG* off 1.7% and *MGR*…
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Dec 18, 2022
Marcus Today Pre-Market Podcast – Monday 19th December
US markets finished a volatile week lower overnight as the Fed’s hawkish tone weighed on sentiment. The *Dow Jones fell 282 points* (-0.85%). At best it was down just 36 points, and at worst it was down 548 points. The *NASDAQ *lost 0.97% and the *S&P 500* finished down 1.12%. In Europe, *STOXX 600* was down 1.20%, *FTSE *was down 1.27%, *DAX *was down 0.67%, and *France *was down 1.08%. *SPI Futures are down 27 points *(-0.38%) this morning, following a 54-point loss yesterday.
In commodities, base metals were mostly lower with *zinc *falling 4.0%. *Nickel *and *tin *both finished higher. Oil prices fell overnight, *Brent crude *was down 2.77% and *WTI *was down 2.24%, but finished the week 4.60% higher. *Gold *rose overnight despite a stronger USD. *Iron ore *fell in China, down 3.66%, with the COVID saga continuing.
* Fed could push rates higher, keep them there longer, policymakers say
* Wall Street ends lower for third straight day as recession worries rise
* Goldman to…
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Dec 15, 2022
Marcus Today Pre-Market Podcast – Friday 16th December
Stocks across the global financial markets took a hit after a week of rate hikes from central banks around the world, with the Fed and ECB signalling more pain to come. The *Dow Jones closed down 764 points* (-2.25%). At best it was up -193, and at worst it was down -950. The* S&P 500* fell 2.49%, and the *NASDAQ* was down 3.23%. In Europe, *Stoxx* 50 -3.5% *FTSE* -0.9% *CAC* -3.1% *DAX* -3.3%. *SPI Futures are down 71 points* (-1.06%). Hard contraction from Wednesday’s rally.
It was a complete reversal of the CPI rally we had early in the week overnight. Markets went risk-off, and the USD Index rallied with the hopes of the Fed cutting rates next year slashed. But *Morgan Stanley’s chief economist is not buying the Fed’s latest message* and sees a peak rate of 4.50-4.75%, and rate cuts late in 2023. U*S bond yields fell again *despite the risk-off market sentiment and rallying USD. The 1*0-year yield was down 4.9bps* and the *2-year yield was down 1.5bps.* The *USD Index rose 0…
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Dec 15, 2022
Marcus Today End of Day Podcast – Thursday 15th December
A pretty shabby day for the *ASX 200, down 47 points* (-0.6%), but better than the futures had suggested his morning. Positive sectors were few and far between. *Banks *were so-so and *resources *were bad. *Lithium *crashed and burned after a sub-optimal BMX auction result from *PLS*, down 11.4%. *MIN *was down 4.7%, *AKE *was down 4.9%, and *LTR *fell 7.9%. *Musk* sells $3.58bn of *Tesla *shares. Market cap just dropped under US$500bn - down 55% this year. Jeff Bezos' *Amazon *is only down 47% this year. Mark Zuckerberg's *Meta Platforms* is down 66.3%. *Dow Futures are up 37 points*, NASDAQ Futures are down 9 points.
*Why not **sign up for a free trial**? Get access to expert insights and research and become a better investor.*
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Dec 14, 2022
Marcus Today Pre-Market Podcast – Thursday 15th December
* SPI Futures down 61 points.
* The Dow Jones Industrial Average fell 142.29 points, or 0.42%, to 33,966.35. The S&P 500 declined 0.61% to 3,995.32. The Nasdaq Composite dropped 0.76% to 11,170.89.
* Markets gyrated after Federal Reserve Chairman Jerome Powell signaled more data was needed before the central bank would meaningfully change its view of inflation. The Dow fell as much as 404.47 points, after climbing 287.01 points earlier in the day.
* FOMC sees rates rise 0.5% and the Terminal Rate up to 5.1% at the end of 2023.
* Base metals slipped. Oil pushing higher for third day.
* Iron ore down 0.5%
Get up to speed with Henry Jennings’ Pre-Market Podcast.
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Dec 14, 2022
Marcus Today End of Day Podcast – Wednesday 14th December
ASX 200 put in a good day up 48 points to 7251 (+0.7%). After a spluttering start, firm US futures ahead of FOMC. Things turned around with resources finding their feet. BHP up 0.5%, RIO up 0.5% and FMG up 1.1% leading things higher. Lithium stocks found their level for now and base metal stocks also in demand, IGO up 0.5% and SFR running 3.4%. 29M doing well up 6.0% too with gold miners especially firm as GMD rose 12.6% on the SBM merger and the later up 13.9%. Energy stocks also doing well, WDS up 1.5% and STO up 0.9%. Coal stocks better, WHC up 2.4%. Industrials were also firm with CSL up 0.8%, TLS rose 1.2% as TPG ran into cyber trouble falling 2.8%. ORG continued to rally 2.9% with REITs also in demand, CHC up 1.0% and GMG rallying 1.6%. Tech stocks slightly better, XRO up 3.0% and the Index up 1.3%. Banks were the one sector overlooked. Some downgrades for BEN hurt a little with NAB down 0.30% and BEN off 3.3%. The Big Bank Basket up to $185.21 (0.05%). Insurers eased and money m…
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Dec 13, 2022
Marcus Today Pre-Market Podcast – Wednesday 14th December
US markets gave up early gains but still finished higher following a better-than-expected inflation rate for November. The *Dow Jones closed up 104 points* (+0.30%), recovering from a mid-session stumble. At best it was up 707, and at worst it was down 114. The S&P 500 rose 0.73% and the *NASDAQ *was up 1.01%. In Europe, *STOXX 50* +1.7%, *FTSE* +0.8%, *CAC* +1.4%, and *DAX* +1.3%. *SPI Futures are up 16 points* (+0.22%).
It was a volatile session in the US as *November inflation came in at 7.1%* *YoY*, ahead of the consensus figure of 7.3%, and the lowest reading since December last year. This was largely due to lower *energy costs *which increased 13.1% YoY, below the 17.6% in October. While gasoline, fuel oil, electricity, and food also decreased from the October reading. On the other hand, the cost of shelter increased to 7.1% from 6.9% in October.
The Fed is now largely expected to raise rates by 50bps tomorrow as it begins to slow the pace of rate hikes. Markets are now factori…
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Dec 13, 2022
Marcus Today End of Day Podcast – Tuesday 13th December
ASX 200 closed modestly, up 23 points to 7203 (0.3%) higher as banks rallied post the *BEN* results and Resources fell as UBS downgraded *BHP* and others. Cautious trade ahead of US CPI and FOMC. *BHP* sank 1.5% on the downgrade after a great run, *RIO* succumbed too with *FMG* off 4.2%. *MIN* collapsed 3.8% with lithium and base metal stocks also under pressure. *LTR* down 2.6%, *NIC* off 2.5% and *SFR* falling 4.1%. *Gold* miners eased with *EVN* down 1.4% and *DEG* off 1.2%. Energy stocks mixed, *WDS* up 0.1% but *ORG* regained some poise after the big fall yesterday. *Banks* were the standout today after *BEN* results cheered on NIM, the regional bank up % with *CBA* up 1.0% and *NAB* racing 2.0% ahead with the Big *Bank* *Basket* up to $184.99 (). Insurers also in demand, *QBE* doing well up 0.8% and *SUN* up 1.7% on the timetable for the *SUN* transaction. *MQG* managed a 0.8% gain. Industrials were firm across the board, *TCL* up 1.5%, *ALL* up 0.2% and *TPG* up 1.4%. Tech bette…
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Dec 12, 2022
Marcus Today Pre-Market Podcast – Tuesday 13th December
* The Dow Jones Industrial Average jumped Monday, clawing back some of the steep losses from the previous week, as traders looked ahead to a highly anticipated Federal Reserve meeting and new inflation data.
* The blue-chip Dow added 528.58 points, or 1.58%, to 34,005.04. That was its first close over 34,000 since Dec. 2. The S&P 500 gained 1.43% to close at 3,990.56, and the Nasdaq Composite rose 1.26% to 11,143.74. Interestingly the VIX was up 9.6% ahead of US CPI and FOMC.
* CPI on Tuesday expectations for a slight easing to 0.3% for October.
* A lift in Boeing shares pushed the Dow higher following reports that the airline is close to a deal with Air India.
* Energy stocks rose as oil prices steadied, following several weeks of declines.
* Base metals eased slightly. Iron ore down and gold falling on higher USD.
Tune in to Henry Jennings’ Pre-Market Podcast to get in the know for the day ahead.
*Why not **sign up for a free trial**? Get access to expert insights and r…
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Dec 12, 2022
Marcus Today End of Day Podcast – Monday 12th December
ASX 200 closed down 32 points to 7181 (0.5%) as banks steady and resources slip ahead of *FOMC*. Gas caps hurting sentiment in utilities not helpful with *ORG* dropping 7.8%. In iron ore stocks, *BHP* dragged the index lower falling 1.5% with *FMG* in trouble too. *MIN* off 2.4% with *IGO* down 2.6%. Base metal and lithium stocks off again too, *LTR* down 2.2% and *CXO* falling 1.3% on a slight broker downgrade. *PLS* bucked the trend rising 1.3% and *SYA* up 2.3% with some permitting news in Quebec. Gold miners hit, *NCM* down 3.4% and *NST* off 3.1% as *GMD* and *SBM* announced their engagement in the press. Oil and gas mixed, crude rose in Asian trade, *WDS* up 2.7% but coal stocks eased on worries about price caps. *WHC* down 2.0% and *NHC* off 1.4%. Banks were flat with the Big Bank Basket pretty much unchanged, *MQG* bounced 2.1% and Insurers mixed, *MPL* grinding lower down 2.0%. Industrials mixed, *WOW* and *COL* eased, *REITs* better as rates rose, *GMG* up 0.1% and *SCG* bett…
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Dec 11, 2022
Marcus Today Pre-Market Podcast – Monday 12th December
US markets fell overnight as the *Producer Price Index for November came in ahead of consensus*, in the final puzzle piece for the Fed heading into the FOMC meeting next week. The *Dow Jones fell 305 points* (-0.90%) to close near lows. At best it was up 63 points, and at worst it was down 319 points. The *NASDAQ* slipped 0.70% and the *S&P 500* fell 0.73%. In Europe, *STOXX* *600* +0.84%, *FTSE* +0.06%, *DAX* +0.74%, and *France* +0.046%. *SPI Futures are down 35 points* (-0.48%) this morning.
The *US PPI print for November came in at 0.3%* month on month ahead of consensus of 0.2%. This is the final piece of the puzzle in the Fed’s decision-making for the next FOMC meeting. The probability for a 75bp rate hike jumped a couple of per cent but a 50bp hike is still favoured. On a slightly better note, consumer sentiment in the US picked up overnight, buoyed by falling petrol prices. Bond yields were higher overnight, with the *10-year yield up 9.6bps *and the *2-year yield up 3.2bps*…
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Dec 9, 2022
Marcus Today End of Day Podcast – Friday 9th December
ASX 200 finishes up 38 points at 7213 (0.5%) as iron ore stocks rally hard on Asian gains. *BHP* up 2.7% and *FMG* up 2.8% leading the charge as Dalian futures hit a 4-month high on hopes of a Chinese property rescue. Lithium stocks still struggling a little post GS research. Gold miners were better with *NCM* up 0.8% and *NST* gaining 2.0%. *EVN* up 2.4%. *CHN* continue to push on up another 3.8%. *SYR* and *29M* also in demand. Energy stocks flat, coal stocks mixed, *WHC* up 1.3%. In industrials, *REITs* slipped a little, gaming stocks better with *ALL* up 0.2% and healthcare modestly higher. Tech stocks better as *WTC* rallied 1.2% and *XRO* up 0.8% as book squaring pre-PPI was the way to go. Banks were mixed with *CBA* easing 0.4% and the *Big* *Bank* *Basket* flat. *MQG* under pressure down 1.8%, *PNI* slammed as performance fee evaporated, down 3.8%. In corporate news, Potentia were back for *NTO*, up 3.4% and above the 200c bid price. *BTH* returned after its ‘successful’ ca…
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Dec 8, 2022
Marcus Today Pre-Market Podcast – Friday 9th December
US markets snapped a five-day losing streak to finish higher ahead of PPI data tonight, which will factor into the Fed’s next move. The *Dow* *Jones* *closed up 184 points* (+0.55%), having been up 301 points at its best. The *NASDAQ* bounced 1.13%, and the *S&P 500 *rose 0.75%. In Europe, *STOXX 50* +0.2%, *FTSE* -0.2%, *CAC* -0.2%, *DAX* +0.02%. *SPI Futures are up 33 points* (+0.46%) as we look to finish the week on a positive note.
Catch up on all the latest with Henry Jennings on today’s Pre-Market Podcast.
*Why not **sign up for a free trial**? Get access to expert insights and research and become a better investor.*
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Dec 8, 2022
Marcus Today End of Day Podcast – Thursday 8th December
ASX 200 dropped another 54 points to 7175 (0.8%) as international recession fears continue. Banks eased back with the Big Bank Basket down to $182.35 (0.8%). *MQG* slid another 1.4% with insurers coming off their highs, *QBE* down 1.4%, *MPL* pushing higher by 2.1%. FUM managers again under pressure, *PPT* down 2.8% and *GQG* off 1.4%. *REITs* better as 10-year yields stable. *GMG* up 1.3% and *CHC* the stand out up 3.0%. Industrials were firm generally, *WES* up 0.7%, *TCL* up 1.2% and *WOW* and *COL* doing ok. Tech stocks mixed, the *All* -*Tech* *Index* down slightly. *XRO* rebounded 0.9%. Resources were mixed, iron ore stocks giving back some recent gains, BHP down 0.8% and FMG off 1.8%. Lithium stocks under pressure as Goldman Sachs weighed in with another report. *CXO* down 9.9% and *LTR* taking it especially hard, down 7.5%. Gold miners though in the box seat as bullion increased, *NCM* up 2.0% and *EVN* up 3.6%, Good drill results from *CHN* saw the stock soar 13.11%. Oil stock…
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Dec 7, 2022
Marcus Today Pre-Market Podcast – Thursday 8th December
US markets fell for the fifth straight session with recession fears weighing heavily. It was a choppy session, with multiple swings either way, as the *Dow Jones closed up two points*. At best it was up 178 points, and at worst it was down 93 points. The *NASDAQ* fell another 0.51% and the S&P 500 finished 0.19% lower. In Europe, *STOXX 50* -0.5%, *FTSE* -0.4%, *CAC* -0.4%, *DAX* -0.6%. *SPI Futures are down 16 points* (-0.22%).
* Wall St ends lower after choppy trading from rising recession worries
* 'We're going to be free': Chinese cheer as COVID curbs are loosened
* Putin says Russia could be fighting in Ukraine for a long time
* Bank of Canada makes big rate hike, hints it may the last one
* U.S. third-quarter productivity raised; labor costs still running high
* Western officials in talks with Turkey over oil tanker delays
* Brazil's Vale forecasts flat iron ore output, shares dive 4.4%
* Oil gives up the year's gains, closing at 2022 low
* U.S. crude stocks dr…
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Dec 7, 2022
Marcus Today End of Day Podcast – Wednesday 7th December
*ASX 200 dropped 62 points to 7229* (0.85%) in lacklustre trade, cratering on the match out as *GDP* came in below forecasts. Once again *resources *were the stars at least until the close, base metal stocks in favour. *BHP* up 0.1%, *FMG* up 2.3% and even *PLS* joined in the positivity up 2.2%. *Gold *miners were slightly firmer, *NCM* up 1.1% and *NST* up 0.2% but *BGL* dropped 12% on news of a $60m placement. *Oil* and *gas* stocks fell back, *WDS* down 2.0%, *STO* off 1.1% and *BPT* taking a tumble on broker moves down 9.9%. Second line lithium a little depressed. Banks eased back following their US counterparts. *CBA* dropped 0.8%, *NAB* down 1.2% and the *Big* *Bank* *Basket* at $183.80 (-1.0%). Insurers doing well, *QBE* up 1.9%, *SUN* up 1.5% and *IAG* in the box seat up 1.9%. *MQG* slid 1.8% with *GQG* better by 1.4% on its *FUM* numbers. Industrials eased back too, *TLS* down 0.5%, *WES* off 1.5% and *TCL* down 1.9% on higher rates. Tech stocks under pressure after Nasdaq fal…
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Dec 6, 2022
Marcus Today Pre-Market Podcast – Wednesday 7th December
US markets crumbled overnight as concerns that the US economy is heading toward a recession in 2023 took their toll. The* Dow Jones fell 351 points* (-1.03%). At best, it was up 60 points, and at worst, it was down 529 points. The *NASDAQ* took a heavy blow, down 2.00%, with selloffs in tech giants including *Apple*,* Meta*, and *Amazon*, and the *S&P 500* fell 1.44%. The recent rally looks like it was very overdone, with markets sobering up as we see a correction. In Europe, *STOXX 50* -0.4%, *FTSE* -0.6%, *CAC* -0.1%, and *DAX* -0.7%. *SPI Futures are down 37 points* (-0.51%), following a 34-point loss yesterday, as the *RBA raised interest rates by 25bps*.
CEOs from the biggest banks, including *Goldman Sachs*, *Morgan Stanley*, and *JPMorgan*, shared their *concerns about the economic outlook*. Goldman warned about *cutting pay and jobs* with “bumpy times ahead,” while Bank of America is slowing down hiring, with *fewer employees leaving as a possible economic contraction lies…
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Dec 6, 2022
Marcus Today End of Day Podcast – Tuesday 6th December
ASX 200 slipped 34 points to 7291 (0.5%) after fighting back from early US inspired losses. *RBA* moved rates 25bps higher as expected and market sold off after the announcement. Bank slid finally after holding up well until the RBA decision. *CBA* dropped 0.5%, *NAB* down 0.7% and the *Big* *Bank* *Basket* off to $185.60 (-0.5%). *ASX* fell hard on latest volume numbers off 2.5%. *MFG* disappointed with FUM down 3.3%. Insurers were better with *QBE* up 0.6% and *IAG* up 1.3%. *MPL* grinding higher by 1.7%. *REITS* fell led by *GMG* down 1.1%, *SCG* off 1.4% and *VCX* down 1.5%. Healthcare was mixed, *CSL* barely changed, *RMD* fell 2.3% as US listing slid on broker comments. Industrials relatively solid, *TLS* grinding higher again up 0.5%, *BXB* up 0.8% and *WOW* up 0.3%. Tech fell hard, *WTC* down 2.4% and *XRO* off 4.0%. Resources under pressure. *BHP* and *RIO* easing slightly but *FMG* off 1.6% and gold miners slammed *NST* down 2.0% and *NCM* off 2.3%. Lithium feeling depressed…
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Dec 5, 2022
Marcus Today Pre-Market Podcast – Tuesday 6th December
US markets fell overnight on the back of strong economic data, which supports the case for the Fed to continue to raise interest rates. The *Dow Jones was down 438 points* (-1.40%). At best it was down 94 points, and at worst it was down 583 points. The *NASDAQ* fell 1.92%, and the *S&P 500* finished xx% lower, with 95% of companies trading lower. In Europe, *STOXX 50* -0.5%, *FTSE* +0.2%, *CAC* -0.7%, *DAX* -0.6%. *SPI Futures are down 47 points* (-0.64%) this morning, following a 24-point rally yesterday.
*HEADLINES*
* Wall St sinks as strong services data causes jitters over Fed direction
* Stocks Hit by Fed-Hike Worries as Bond Yields Jump
* U.S. services industry regains steam; factory orders accelerate
* Russia unleashes missiles across Ukraine, drones hit bases deep inside Russian territory
* FX swap debt an $80 trillion 'blind spot' global regulator says
* Vodafone CEO to leave after frustrating four years for shareholders
* U.S. Supreme Court leans toward web d…
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Dec 5, 2022
Marcus Today End of Day Podcast – Monday 5th December
*ASX 200 rallies 24 points to 7326* (0.3%) as *iron *ore bounces to $110 in Singapore. *FMG* leading the charge higher up 6.9%, *BHP* up 2.3% and second-liners *CIA* doing well up 2.2%. *Lithium *stocks a little on the nose with *PLS* down 5.1%, *IGO* off 4.9% and *LTR* falling 2.4%. *Base metal *stocks slightly firmer, *S32* up 3.6%. *Energy *stocks firmed post-*OPEC *plus, *WDS* up 2.0% and *STO* up 2.7%, *coal *stocks a little weaker. *Banks *going nowhere in a hurry, the *Big Bank Basket* $186.49 (unchanged). *Industrials *firmed in quiet trade, *TLS* up 0.3%, *WOW* up 0.6% and ‘old skool’ platform stocks *REA* up 0.7% though *CAR* and *SEK* slipped slightly. *REITs* firm, *GMG* up 1.7% and *healthcare *slipping back slightly, *CSL* down 0.6% and *RMD* off %. *Tech* stocks eased back, *WTC* off 0.7% and *CPU* down 0.2%. The index falling 0.2%. In corporate news, *WGO* got another bid up 11.5%, with Gina and Kerry fighting it out. *NEA* takeover now approved by the court. *MTS*…
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Dec 4, 2022
Marcus Today Pre-Market Podcast – Monday 5th December
* US stocks and bonds experienced a volatile session on Friday following a jobs number that fuelled bets the Fed will continue tightening after a lot of talk of a slowdown of rate hikes this month. *The Dow Jones fell hard at the ope*n but managed to recover its losses and *finish up 34 points* (+0.10%). The *NASDAQ* finished 0.17% lower and the* S&P 500* lost 0.12%. European markets were mostly lower, with *STOXX* *600* down 0.15%, *UK* *FTSE* down 0.03%, *France* down 0.17%, *Italy* down 0.26%, and *Greece* down 2.00%, *German* *DAX* finished 0.27% higher. *SPI Futures are up 19 points* (+0.26%), following a 0.6% rise in the ASX 200 for the week.
* US employers added more jobs than expected and wages increased by the most in nearly 12 months. *Nonfarm payrolls were 263K higher in November*, ahead of market forecasts of 200K, with the *unemployment rate steady at 3.7%.*
* US bond yields spiked on the jobs number but gave up their gains and were relatively unchanged for the session…
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Dec 2, 2022
Marcus Today End of Day Podcast – Friday 2nd December
ASX 200 dropped 53 points to close at 7302 (0.7%). Up 55 points for the week. Some caution creeping in before the US jobs data tonight and it has run hard. The *BIg* *Bank* *Basket* fell to $186.74 (1.1%). *MQG* slid 1.0% and insurers also in the doghouse as bond yields continue to fall. 10-year yields now back to 3.39%. *QBE* down 0.2%, *MPL* off 1.7% and money managers down too, *GQG* off 3.0% with *MFG* falling another 1.9%. Industrials relatively firm, *TLS* up 0.5%, *REA* up 0.7% and *CPU* up 0.1% with healthcare also doing ok as *RMD* rose 1.6% and *CSL* up 1.1%. REITs stumbled lower despite rates easing, *GMG* down 4.1%, *GPT* off 2.2% and *SCG* falling 2.7%. Tech better with the *All*-*Tech* Index up 0.6% as *WTC* rallied 0.5% and *BTH* got an 80c bid. In resources, iron ore stocks eased, *BHP* down 1.4% energy down too *WDS* copping some broker negativity falling 2.6% and coal stocks not such a merry old place to be. Gold miners though enjoying a day in the sun, *SBM* up 10.4%…
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Dec 1, 2022
Marcus Today Pre-Market Podcast – Friday 2nd December
US markets faltered following as manufacturing data showed a contraction in November for the first time since May 2020. The* Dow Jones closed down 195 points* (-0.56%) after falling as much as 460 points in early trade. The *NASDAQ* managed to continue yesterday’s run and *gained 0.14%*, while the *S&P 500 *was largely unchanged for the session, *down just four points*. In Europe, *STOXX 50* +0.5%, *FTSE* -0.2%, *CAC* +0.2%, *DAX* +0.7%. *SPI Futures are down 15 points* (-0.20%) following a 70-point rise yesterday.
* Wall Street ends mixed; Salesforce selloff pressures Dow
* Biden, Macron condemn Russia invasion of Ukraine at White House meeting
* U.S. Supreme Court to hear Biden's bid to reinstate student debt plan
* U.S. Congress backs legislation to block rail strike
* Global factory activity shrank in November but price pressures ease
* EU tentatively agrees $60 price cap on Russian seaborne oil
* U.S., France present united front to hold Russia to account on Ukrai…
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Dec 1, 2022
Marcus Today End of Day Podcast – Thursday 1st December
*ASX 200 jumped out of the blocks today finishing up 70* points at 7354 (1.0%). The Powell Punt now live. *Resources *led the charge selectively, *BHP* up 2.11% with *RIO* up 3.3% on Chinese reopening hopes. *Gold *miners did well as the *USD *fell away, *NCM* up 4.3% and *NST* up 3.0%.* Base metals* stocks better *CHN* up 5.7% and *IGO* up 4.0% with *PLS* better by 2.2%. Patches of weakness with oil and gas mixed, *WDS* falling 1.7% on its impending investor day, *STO* up 0.4% on better crude prices and *KAR* up 2.6%. In the *industrials*, green across the screen with interest rate sensitive stocks better, *REITs* up with *GMG* up 0.4% and *SCG* better by 1.4%. ‘Old Skool’ Platform stocks doing well, *REA* up 2.4% and *SEK* rallying 2.6%. *Staples* ok but unspectacular. *Healthcare *eased with *CSL* down 0.5% though *FPH* kicked another 2.7% higher on broker optimism. In the *banks*, the *Big Bank Basket* showed a modest gain, at $188.97 (+0.6%). *MQG* did well up 1.9% and Insurer…
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Nov 30, 2022
Marcus Today End of Day Podcast – Wednesday 30th November
*The ASX 200 finished up 31 points* (+0.4%) on a better-than-expected monthly CPI indicator number for October. The figure* came in at 6.9%*, ahead of consensus of 7.4%, and slowing from the 7.3% CPI read in September. *Resources* were strong, *BHP* was up 1.6% and *RIO* rose 1.7%. *Lithium* stocks also found some strength, with *MIN* up 4.4%, *PLS* up 3.8%, and *AKE* up 3.4%. *Energy* was the clear winner, with *coal* stocks attracting attention on a rising *coal* price and increasing uncertainty surrounding the *oil* price cap situation with *OPEC+.* *WDS* up 1.3% and *STO* up 1.0%, with *YAL* up 3.3%, *WHC* up 8.4%. *Banks* came under some pressure following the CPI indicator release, with the *Big Bank Basket* down to $187.91 (-0.3%). *CBA* down 0.2%, *NAB* down 0.5%, and *ANZ* down 0.7%. Other *financials* were better, *MQG* up 0.4%. *Technology* stocks were better, the *All-Tech* *Index *was up 1.0%, with *CAR* up 3.4%. *REITs* also better following the CPI update, *GMG* was up 2…
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Nov 29, 2022
Marcus Today Pre-Market Podcast – Wednesday 30th November
* The S&P 500 and Nasdaq Composite closed lower for a third straight session Tuesday as traders struggled to recover from sharp losses suffered in the previous session and looked ahead to more economic tea leaves coming later in the week.
* The Nasdaq Composite shed 0.59% to close at 10,983.78. The S&P 500 lost 0.16%, ending the day at 3,957.63. The Dow Jones Industrial Average notched a marginal gain, closing 3.07 points, or 0.01%, higher at 33,852.53.
* Data out of Germany, Spain and Brazil signaled that inflation in the country could be cooling, as desired by officials, Reuters reported. German consumer prices in comparison to other European Union countries rose 11.3% in November, cooling slightly.
* RBA’s Jonathan Kearns, head of domestic markets, speaks at the 2022 Australian Securitisation Conference in Sydney at 11am;
* Third quarter construction work done, building approvals October, private sector credit October and CPI indicator October all at 11.30am. Australian C…
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Nov 29, 2022
Marcus Today End of Day Podcast – Tuesday 29th November
ASX 200 rose 24 points to 7253 as iron ore drives the market from negative to positive. Quiet conditions with Chinese stability helping sentiment. Iron ore hit US$100 in Singapore pushing *BHP* up 2.1%, *FMG* up 2.2% and *RIO* up 3.5%. Base metals rose slightly, *S32* up 3.0% and *MIN* doing well up 2.4%. Lithium stocks found some buyers but conviction remains low. Gold miners under a little pressure as USD rises, *NCM* down 0.1% and *NST* off 0.5%. Energy stocks mixed with *WDS* off 0.4% and *STO* up 1.1% on its BKW deal. Old king coal a very mixed soul, *WHC* down 1.8% and *YAL* up 0.4%. Banks were flat with *CBA* down 0.4% dragging the *Big* *Bank* *Basket* to $188.52. Other financials drifted off, *MQG* down 0.3% and *ASX* off 4.7%. Industrials slightly weaker in thin trade. *WES* fell 0.3%, *ALL* down 0.8% and *REITS* slipped slightly, *GMG* down 1.2%. Healthcare was firm led by *CSL*. *RHC* up 0.9% on its AGM and *FPH* doing well on its results up 9.8%. Tech stocks going nowhere,…
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Nov 28, 2022
Marcus Today Pre-Market Podcast – Tuesday 29th November
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Nov 24, 2022
Marcus Today Pre-Market Podcast – Friday 25th November
*US Markets were closed overnight* for the Thanksgiving Holiday and will close early tonight. *SPI Futures are up 12 points* (+0.17%), following gains in Europe on the hopes that the US Federal Reserve will begin to slow the pace of its rate rises soon. European markets all finished higher, with the *Stoxx* *600* +0.46%, *FTSE* +0.02%, *German* *DAX* +0.78%, and *France* +0.42%. The *ASX 200 is poised to end the week 1.6% higher*.
*The oil price steadied overnight*, climbing 0.57%, as the EU considers a higher-than-expected price cap on Russian oil. Goldman Sachs believes that the higher price cap being considered could *reduce the risk of retaliation from Moscow*. Talks to finalise the deal were supposed to be completed yesterday but were delayed.
In Asia, *Chinese stocks finished lower as the battle against COVID continues*. Officials are pushing forward with their aggressive tactics to slow the spread, ordering lockdowns and movement curbs with *daily cases nearing 30,000*. Offici…
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Nov 24, 2022
Marcus Today End of Day Podcast – Thursday 24th November
ASX 200 traded quietly in a very narrow range closing up only 10 points to 7242 (0.1%). Banks were a little on the nose today with the Big Bank Basket easing to $187.76 (0.3%) Other financials also eased back with MQG down 0.4% with insurers flat lining. Healthcare was firmer with CSL up 0.4 % after its new $3.5m drug brought upgrades from brokers. The rest of the sector was flat. Industrials mainly flat with squirts of green own TCL up 0.4% KGN up 7.9% and REA doing ok, up 2.9%. REITs also better as bond yields fell slightly. Resources were once again the driving force with BHP up 1.4% and FMG up 0.5% with base metals and lithium stocks a little flat but gold miners enjoying a good run despite AUD bullion going no where. Oil and gas stocks under pressure on crude falls. WDS down 1.4% and STO falling 1.6%. Coal stocks sold off today not helped by WHC falling 6.7% on CEO selling down his holdings for tax issues. In corporate news, KGN AGM today saw gains though HVN eased slightly after…
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Nov 23, 2022
Marcus Today Pre-Market Podcast – Thursday 24th November
US markets rallied overnight with further evidence suggesting the Fed will soon slow rate rises came to light. The *Dow Jones was up 96 points* (+0.28%), closing at its highest level since April 21. At worst, it was down 93 points, and at best, it was up 164 points. The *NASDAQ rose* 0.99%, and the *S&P 500 was up* 0.59%. In Europe, the *Stoxx* *600* +0.6%, *FTSE* +0.17%, *German* *DAX* +0.04%, and *France* +0.32%. *SPI Futures are up 5 points* (+0.07%) following a 51-point rise yesterday. The *ASX 200 is up 1.1% for the week*.
* US Treasury yields dropped as Fed minutes suggests lower rate hikes.
* ‘Substantial’ majority of Fed officials see rate hikes slowing ‘soon’.
* US weekly jobless claims at three month high.
* US business activity weakens further.
* NY Fed s analysts say bank deposit rates lag changes in Fed policy rate.
* Euro zone downturn eases slightly. Offers hope for milder recession.
* Oil slides 3% on Russian price cap talks. US gasoline inventori…
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Nov 23, 2022
Marcus Today End of Day Podcast – Wednesday 23rd November
ASX 200 rose 51 points to 7232 (0.7%) in disappointing trade really. Early signs of kicking on evaporated and we gave a little back, iron ore in China slipped over 2% but that didn’t hurt *BHP* up 1.0% and *RIO* up 0.5%. Base metals held firm with *S32* up 2.0%, *LYC* up 1.8% and *MIN* doing well up 1.9%. Gold miners rallied despite little movement in bullion, *NST* up 2.2% and *NCM* better by 2.4%. Energy both old and new, was the place to be, lithium stocks mixed, *AKE *up 1.5% and *CXO* rising 2.1%, *WDS* up 0.9% and coal stocks soaring as *WHC* rose 5.6% with *YAL* up 3.8%. Big Banks were also better yet again, *CBA* hitting records, up 0.5%, the *Big* *Bank* *Basket* up to $188.18 (1.1%). *MQG* joined in today up 1.6% and insurers also firm. Industrials positive, *REITS* a little better and healthcare ahead with *CSL* up on upgrades and news. Techno slipping as *WTC* crashed 6.7% on its AGM statement. All-Tech Index down 0.5%. In corporate news, *CXL* rose 7.8% on its CEMEX anno…
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Nov 22, 2022
Marcus Today Pre-Market Podcast – Wednesday 23rd November
US markets rallied overnight as Fed officials indicated that they will continue to raise rates, *but they’re open to slowing the pace of hikes*. *The Dow Jones rallied throughout the session, finishing up 398 points* (+1.18%). At worst it was up 110 points, and at best it was up 415 points. *The S&P 500* gained 1.36%, and the *NASDAQ *climbed 1.36%. In Europe, *Stoxx 50 *+0.5%, *FTSE* +1%, *CAC* +0.4%, *DAX* +0.3%. *SPI Futures are up 62 points* (+0.86%), following a 42-point rise yesterday.
*HEADLINES*
* Stocks soar as investors expect Fed to slow pace
* Retailers rally into holiday season after earnings blowouts
* FTX collapse ensnares creditors big and small all over the world
* Carvana’s unwinding triggers cascade of warnings on Wall Street
* U.S. Supreme Court clears way for lawmakers to get Trump's tax returns
* Harsh winter looms as Russian attacks hobble Ukraine's power capacity
* Best Buy forecasts smaller drop in sales ahead of holiday season
* Europe to…
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Nov 22, 2022
Marcus Today End of Day Podcast – Tuesday 22nd November
ASX 200 continued to push higher in quiet trade finishing up 42 points at 7181 (0.6%). Coordinated positivity in banks and resources saw the index close in on the 7200 level. The *Big* *Bank* *Basket* topped $187.10 (0.5) with *CBA* close to an all time high. *NAB* in favour too up 0.5% with *QBE* better by 2.7% on broker upgrades. *MQG* missed the memo down 0.9% with *MFG* up 0.4%. Healthcare better as *CSL* up 0.1% and *FPH* rising 2.5%. *REITs* did well too, *GMG* up 0.2%, *SCG* up 1.4% and *VCX* rising 0.8% despite recent CEO woes. Industrials firm but unspectacular. Tech stuck in the slow lane with the All *Tech* *Index* up 0.3%. Resources though were back in demand despite more CV19 cases in China. *BHP* rose 1.2%, *RIO* up 1.0% and MIN doing well up 2.8%. Lithium stocks were firm but again unspectacular, *PLS* up 3.4% and *LTR* roaring 2.5% better. Energy stocks though in demand with *WDS* going great guns up 2.9% and coal stocks rallying hard on higher coal prices. *WHC* up 7.8…
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Nov 21, 2022
Marcus Today Pre-Market Podcast – Tuesday 22nd November
*US markets slipped overnight* as Chinese COVID concerns, and the expectation for Fed interest rate hikes continued to dominate headlines. *The Dow Jones dropped 45 points* (-0.13%), closing in the middle of its trading range. At best it was up 119, at worst it was down 187 points. The *NASDAQ was down 122 points* (-1.09%). The* S&P 500 fell 18 points *(-0.45%). In Europe, *Stoxx 50* -0.4%, *FTSE* -0.1%, *CAC* -0.2%, *DAX* -0.4%. *SPI Futures are up 32 points* (+0.45%), with RBA governor Philip Lowe set to speak about “price stability, the supply side and prosperity” at the Annual CEDA Dinner in Melbourne tonight.
* China COVID cases weigh on the Wall Street; Disney jumps 6%.
* Disney brings back Bob Iger as CEO in bid to boost growth
* Saudi denies oil output hike discussion, says OPEC+ may cut if needed
* Real impact of Fed hikes likely bigger than what target rate implies, Daly says
* Goldman Sachs Strategists Say Bear Market Will Last in 2023
* Activist investor a…
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Nov 21, 2022
Marcus Today End of Day Podcast – Monday 21st November
ASX 200 fell 13 points to 7139 (0.2%) in another quiet day of trade. Once again banks strong, resources weaker. *BHP* fell 2.3% with *RIO* off 2.3% as Turquoise Hill becoming an issue with the takeover, *FMG* dropped 3.8%. Lithium stocks steadied but no huge rally, *MIN* down 0.2%, *PLS* up 0.1% with *LTR* up 3.1% and *CXO* up 0.4%. Oil and gas stocks slipped on the falls in crude, *WDS* down 1.4% and *STO* off 1.0% with coal stocks better on coal price rise, *WHC* up 3.2% and *NHC* rising 1.9%. Gold miners doing little. The *Big* *Bank* *Basket* rose to $186.14 (0.8%). Insurers slipped as *QBE* updated the market falling 0.6%, *MQG* down 1.0% and fund managers dipped with *MFG* down 2.7%. Healthcare mixed, *CSL* up 0.9% and *SHL* eased 1.1%. Industrials mixed, technology fell, *XRO* down 3.7% with the *All*-*Tech* Index down 1.7%. In corporate news, *SFR* rose 1.5% on its rights issue, *HLS* fell 4.2% on media speculation on day hospital sale. 360 to raise $50m, *NHF* looks to be a wi…
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Nov 20, 2022
Marcus Today Pre-Market Podcast – Monday 21st November
The *Dow Jones was up 199 points* (+0.59%). At best it was up 282 points, and at worst it was down six points. The *NASDAQ* failed to kick into gear, closing a single point higher. The *S&P 500* gained 0.48%. Ahead of* Thanksgiving week this week* (a lot of people go on holiday) it was another narrow session with *trading volumes around 20% below the 30-day average* despite a US$2.1bn options expiry.
US bond yields kicked up again, with the *10-year up 5.2bps *and the* 2-year up 7.7bps*. Fed head comments fuelling the rise, with Bullard suggesting rates need to go to at least 5-5.25%, and Kashkari saying how far the central bank will go is an “open question”. Collins suggested that another 75bps hike could be on the cards for December 14, with little evidence that price pressures are waining. But some strategists suggest that investors are seeing the signs of steadying inflation as an opportunity to take advantage of the Fed easing its rate rise to 50bps on December 14. The *US Do…
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Nov 18, 2022
Marcus Today End of Day Podcast – Friday 18th November
ASX 200 closed up 16 points at 7150 (0.2%). Index down 6 points for the week. Another narrow range trading day with banks and resources heading higher in unison. The *Big* *Bank* *Basket* up to $184.60 (0.5%). *MQG* slipped a little, insurers better led by *QBE* up 1.9% and *IAG* up 1.2%. *PPT* down 2.4% with *PDL* down 1.6%. Healthcare slightly better, *CSL* up 0.4% and *FPH* rallying 2.7%. Industrials were firmer, *WES* up 0.7%, *TLS* up 1.6% and *WOW* up 0.7%. *REITs* better on falling yields, *TCL* doing well again too up 1.0%. Tech flat with *WTC* down 0.4%. Resources somewhat mixed as *BHP* rose 0.3% on its increased offer at 2825c for *OZL* up 4.0% Lithium stocks continue to see profit taking. *CXO* off another 1.1% with *PLS* sliding 2.9%. Oil and gas stocks fell, *WDS* down 0.8% and coal stocks finding support on higher coal prices. In corporate news, *LOV* slid 7.1% on a business update. *STA* up 5.6% on a corporate presentation, *CTT* fell 12.2% as founder sells down, *NXL*…
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Nov 17, 2022
Marcus Today Pre-Market Podcast – Friday 18th November
US markets slipped overnight, and bond yields jumped as the hope of a Fed pivot dissipated. The Dow Jones closed down eight points (-0.02%), following a late rally into the close. At worst it was down 314 points, at best it was up 62 points. The S&P 500 slipped 0.31%, and the NASDAQ fell 0.43%. In Europe, Stoxx 50 down 0.1% FTSE down 0.1%, CAC down 0.5%, and DAX up 0.2%. SPI Futures are up six points (+0.08%%), following a 14-point rise yesterday.
* Copper retreats on renewed worries about China Covid curbs.
* Gold slides 1% as dollar marches ahead.
* India set to be one of the world’s fastest-growing copper markets in 2022.
* Canada very unlikely to join OPEC like group for nickel.
* LME tightens restraints as nickel turns unruly again.
* LME raises initial margins on nickel by 28% after volatility.
* Nickel price tumbles as LME scrutinises volatile trading.ON THE CALENDAR TODAY
* Japanese data: Inflation rate for October.
* UK data: Retail sales for October.…
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Nov 17, 2022
Marcus Today End of Day Podcast – Thursday 17th November
A very narrow day of trade today, *the ASX 200 finished up 14 points* (+0.2%), with a range of only 40 points. *Defensive* stocks were the best place to be while *resources* weighed on the market. Iron ore miners struggled, *BHP* was down 1.5%, *RIO* was down 1.8%, and *FMG* fell 1.8%. *S32* lost 5.2% on a Macquarie downgrade. *Financials* were better after some weakness yesterday. The *Big Bank Basket* was up 0.5% to $183.75. *MQG* joined in, up 1.1%. *Healthcare* shone brightly, with *CSL* up 1.4%, *RMD* up 1.5%, and *FPH* up 3.9%. *Consumer* *staples* were higher, with *WOW* up 2.1%, *COL* up 1.9%, and *WES* rising 2.5%. The *travel* sector enjoyed a nice rally on the back of some solid numbers from *WEB*, up 10.1%. *Technology* stocks pushed higher, the *All-Tech Index* was up xx%, with *REA* up 0.3%, *XRO* up 1.7%, and *WTC* climbing 1.3%. Energy stocks struggled, coal stocks in particular, fell hard, following a 5.3% fall in the coal price overnight. *WHC* down 6.3%, *CRN* down 3…
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Nov 16, 2022
Marcus Today Pre-Market Podcast – Thursday 17th November
* The S&P 500 ended the day down 0.83% at 3,958.79, and the Nasdaq Composite shed 1.54% to 11,183.66.
* The Dow Jones Industrial Average wrestled with the flat line all day, but finished down 39.09 points, or 0.12% at 33,553.83.
* Federal Reserve governor Chris Waller said he could be open to slowing the pace of rate rises, though he’s waiting for more data.
* US Treasury Secretary Janet Yellen signalled the Biden administration will push for greater regulation of the cryptocurrency market following the collapse of FTX.
* Target are down 13.4% in late trade after its profit tumbled 52% in the September quarter and it warned of Christmas sales down on 2021.
* Cisco slightly firmer after hours on results.
* Base metals weaker. Nickel down 8.5%
* Oil off 0.9% Gold down 0.3%
* Iron ore better in Asia yesterday up 2.5%
* AUD 67.38c.
* BHP/OZL deal expected to be announced
* ASX update on CHESS.
Catch up on the latest news with Henry Jennings’ Pre-Market Podcast.…
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Nov 16, 2022
Marcus Today End of Day Podcast – Wednesday 16th November
ASX 200 fell back another 19 points to 7122 (0.3%) as momentum is stalling. Poland may be a distraction but banks down as yields fall, the *Big* *Bank* *Basket* down to $182.89 (1.2%). *CBA* down 1.8% on broker downgrades, *MQG* losing 0.9%, insurers off too, *IAG* down 2.3% and *QBE* off 2.9%. Fund managers slipping away, *MFG* down 2.2%, *PPT* down 4.3% and *PTM* off 1.3%. *PDL* still in demand up 4.5%. Industrials pretty flat, REITs unchanged, healthcare eased, *CSL* off 0.5% and *SHL* down 2.5% with *RMD* falling 1.3%. Tech mixed, *XRO* down 1.8% with the *All*-*Tech* Index off 0.6%. Resources were mostly firm although lithium stocks still a little depressed, *PLS* rose 1.9% on dividend policy news, *AKE* rallied back 2.4% but *CXO* dropped 5.4% and *LTR* off 3.4%. Iron ore stocks better, *BHP* up 1.2% with *FMG* rallying 2.3%. Base metals better and *OZL* in a trading halt as it looks like *BHP* is trying to button down the takeover. *IGO* up 4.0% and *LYC* doing well up 4.0%. Gol…
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Nov 15, 2022
Marcus Today Pre-Market Podcast – Wednesday 16th November
US stocks jumped back on the train, pushing higher overnight as PPI data supported the peak inflation story. The* Dow Jones finished up 56 points* (+0.17%), in the middle of a big trading range and making up for some of the previous session’s losses. At best it was up 450 points and at worst it was down 217 points. The *S&P 500* rose 0.87%, and the *NASDAQ* was up 1.45%. In Europe, *Stoxx* *50* was up 0.7%, *FTSE* was down 0.2%, *CAC* was up 0.5%, *DAX* was up 0.5%, with reports coming in that Russian missiles hit Poland.* SPI Futures are down 12 points *(-0.17%) this morning. This follows a 5-point fall yesterday.
*The US producer price index for October came in at 8% last night*, below the 8.3% expected. This helped fuel investor *optimism of the Fed slowing the pace of rate increases*. But the rally came to a halt when news of the *Russian missiles hitting Poland* landed, with markets dropping sharply on the news. The *USD Index *also slipped on the news but rallied into the close…
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Nov 15, 2022
Marcus Today End of Day Podcast – Tuesday 15th November
* ASX 200 fought back to close down only 5 points at 7142 (0.1%). Once again it was the tale of two sectors. Resources on the nose after some good rises, lithium stocks depressed as Goldman Sachs issued another sell note citing oversupply from 2025. *CXO*, *PLS* and *AKE* whacked hard with second liners also in the seller’s sights. Stop losses and profit taking also at play. Base metals eased too with *OZL* down 1.0% and *S32* off 1.1%. Less damage than lithium and rare earths as money flowed into laggards, iron ore stocks saw some selling pressure *BHP* down 0.2% and *FMG* off 0.8%. Gold miners steady and selective. *DCN* up 6.7% with *DEG* off 1.1%. No real damage in the sector with bullion flat. Oil and gas eased, *WDS* down 1.4% and coal stocks mixed. In the banking sector, *CBA *up 1.3% was the focus after ok results, only Q1 so no dividend announcement and not much detail, the *Big* *Bank* *Basket* $185.16 (0.4%) as *NAB* went ex-dividend. *MQG* and the insurers better, *IAG*…
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Nov 14, 2022
Marcus Today Pre-Market Podcast – Tuesday 15th November
* *The US rally came to a halt overnight* as markets gave back some of the gains from the previous two sessions. The *Dow Jones faded into the close*, down 211 points (-xx%), closing just off lows. At best it was up 216 points, at worst it was down 214 points. The *S&P 500* was down 0.20%, and the *NASDAQ *slipped 1.12%. The* US Dollar index* moved higher during the session, up 0.35%. The *Aussie dollar was unchanged*, fetching 67.00c. And *US 10-Year* and* 2-Year yields* moved higher, up 4.3bps and 8.0bps respectively. In Europe, *Stoxx* *50* up 0.5%, *FTSE* up 0.9%, *CAC* up 0.2%, and *DAX* up 0.6%.
* *SPI Futures are set to open 37 points* (-0.52%) *lower*.
* Markets rallied before a late sell off as Federal Reserve Vice Chair Lael Brainard indicated the central bank could soon slow the pace of interest rate rises.
* President Biden and Xi Jinping meet for three hours.
* Amazon.com plans to cut about 10,000 jobs, the largest ever headcount reduction at the e-commerce giant a…
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Nov 14, 2022
Marcus Today End of Day Podcast – Monday 14th November
ASX 200 finished down 12 points to 7146 (0.2%) as Fed official talks tough on rates again. USD rises, gold slips and yields up too. Banks wore the brunt of the selling as the bifurcation in the market kicked off again. The *Big* *Bank* *Basket* fell to $184.48 (-0.8%). Insurers also hurt with *IAG* down 2.4%, *QBE* down 4.0% and *PPT* off 5.8% on court moves. Healthcare too in ICU with *CSL* down 2.0%, *COH* off 4.2% and *RMD* falling 3.4%. Industrials slipping as *TLS* fell 3.5% on a management change, staples eased back, *WES* down 2.1% and *COL* off 2.0%. *REITs* slipped too, *SCG* down 3.1%. Tech stocks mixed as *WTC* fell 1.7% and *XRO* resumed its slide down 3.9%. The All-Tech Index dropped 0.5%. Resources though were a different story although off highs as USD gathered strength. Iron ore in demand, *BHP* up 4.6%, *FMG* up 10.1% with base metals also doing well, *S32* up 5.9%, *CIA* up 12.9%, *OZL* up 1.1% and selected lithium plays better. *CXO* marching 11.7% ahead with *LTR* i…
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Nov 13, 2022
Marcus Today Pre-Market Podcast – Monday 14th November
* US markets found some solid ground after a slow start. The *Dow Jones finished up a modest 32 points* (+0.10%) but most importantly, it didn't give back any of the 1200 point gain the night before. Building foundations. At worst, down 321, at best, up 103. The *S&P 500 gained 38 points* (+0.95%) in its best week since June. While the *NASDAQ rose a further 209 points* (+1.88%) to round out its best week in two years. In Europe, the *STOXX 600* was unchanged, the *German DAX*, *France *and *Italy *saw some gains, but the *UK FTSE*, *Spain*, and *Greece *finished lower.* *
* *SPI Futures are up 42 points* (+0.59%) this morning, which follows the 2.79% gain yesterday.
* The Nasdaq Golden Dragon Index rose 6.6% on Friday, extending a 7.6% gain in the previous session and capping its best two-day performance since March 17.
* *Commodities also found favour* following the news out of China (quarantine periods reduced by 2 days) with rallies across the board. Base metals pushed higher…
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Nov 11, 2022
Marcus Today End of Day Podcast – Friday 11th November
* *ASX 200 finished the week in style up 194* *points *at 7158 (2.8%) to a five-month high. Up around 3.8% for the week. Everything was up with the exception of the insurers which suffered as rates fell, *banks *were well sought as the *Big* *Bank* *Basket* hit $185.88 (+1.6%). *Fund managers* leveraged to the market also doing well, *MFG* up 9.8%, *MQG* up 5.6% and *PNI* up 12.5%. *Industrials* bid well too, *Healthcare *firm, *CSL* up 3.4%, *RHC* up 4.7% and *PME* up 11.5% some of the standouts. *Telcos *better, *TLS* up 1.0%, *tech *in demand with the *All*-*Tech* *Index* up 5.8%. *WTC* bouncing 10.4%, *XRO* up 8.3%. *CPU* a rare weaker stock down 2.9% on falling rates. 10-year yields falling to 3.64%. *Staples *finding friends again and will continue to do so, *WOW* up 1.6% and *COL* better by 2.3%. *Resources *very strong, *BHP* up 3.8%, *FMG* up 5.8% and *S32* up 5.7%. *Gold miners *raced higher, *NCM* up 3.5% and *NST* rallying another 3.3%. *Lithium *slightly left out but *LYC*…
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Nov 10, 2022
Marcus Today Pre-Market Podcast – Friday 11th November
* ASX 200 SPI futures up 190 points.
* The Dow Jones Industrial Average jumped 1,201.43 points, or 3.7%, to 33,715.37. The S&P 500 jumped 5.53% to 3,955.94 in its biggest rally since April 2020. The Nasdaq Composite surged 7.35%, also its best since April 2020.
* October’s CPI rose 0.4% for the month and 7.7% from a year ago, its lowest annual increase since January and a slowdown from the 8.2% annual pace in the prior month.
* Economists were expecting increases of 0.6% and 7.9%, according to Dow Jones. Excluding volatile food and energy costs, so-called core CPI increased 0.3% for the month and 6.3% on an annual basis, also less than expected.
* Base metals better. Gold up nearly 3%.
* Oil up 1.1% Iron ore fell 1% in Asia yesterday.
* AUD up to 66.3c USD Index fell 2.1%
* BHP ADRs up 3.6%.
Get up to speed with Henry Jennings’ Pre-Market Podcast.
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Nov 10, 2022
Marcus Today End of Day Podcast – Thursday 10th November
ASX 200 falls 35 points to 6964 (0.5%) ahead of *US* *CPI* tonight. Banks eased back as NAB saw downgrades post results, falling 2.1%, the *Big* *Bank* *Basket* down to $182.93 (1%). *MQG* fell 1.0% and insurers slid slightly as bond yields fell to 3.72% in the 10s. Plenty going on with *PPT*, *PDL* one up one down. *MFG* fell another 3.2% as it continues to head lower. Industrials were mixed, *CSL* up 1.1% on an upgrade, *COH* better by 1.5% but others slightly lower. *REITs* better on lower yields, Staples continue to find bargain hunters with *EDV*, *COL* and *WOW* all doing ok. Resources slipped as China locked down more areas due to CV19. *BHP* fell 1.5%, *FMG* off 2.0% and base metals and lithium stocks falling away. *PLS* down 3.3% and *MIN* off 1.1%. Gold miners were mixed, *DEG* up 2.1% and *NCM* down 1.3%. Energy stocks weak, *WDS* down 2.3% and *STO* fell 1.6% with *WHC* dipping another 3.3%.
*ORG* bucked the trend as Brookfield lobbed a 900c bid into the equation, in other…
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Nov 9, 2022
Marcus Today Pre-Market Podcast – Thursday 10th November
* *The Dow Jones fell into the close*, finishing down 647 points (-1.95%), snapping a three-day winning streak to finish near lows. Never trading in positive territory at best, it was down 96, at worst, it was down 682. An unexpected swing in the midterms spooked US markets, with uncertainty creeping back in for investors. The *NASDAQ* lost 263 points (-2.49%). The *S&P 500* was down 80 points (-2.08%). In Europe, *Stoxx* *50* -0.3%, *FTSE* -0.1%, *CAC* -0.2%, and *DAX* -0.2%. SPI Futures are down 61 points (-0.87%) this morning.
* The* US mega-cap tech rout has continued*. Amazon, down 4.27% overnight, has become the first public company in the world to lose US$1 trillion in market value. Tesla stocks fell 7.17% overnight as Musk sold US$4bn worth of shares. Netflix was down 3.34%, and Disney fell 13.16%. *Meta*, on the other hand, heading in the right direction, was up 5.18% as it announced it would cut around 11,000 jobs to further invest in the Metaverse.
* In commodities, oil…
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Nov 9, 2022
Marcus Today End of Day Podcast – Wednesday 9th November
The *ASX 200 closed up 40 points* (+0.6%) to 6999, adding to yesterday’s 25-point gain. It was *gold’s* time to shine today, as *miners *rallied hard with *NCM* up 6.9%, *NST* up 6.8% and *EVN* up 9.3%. Other *resources *remained in good shape, with *BHP* up 2.1%, *RIO* up 2.4% and *FMG* up 3.0%. The *banks *evened out. *CBA*, *ANZ*, and *WBC* finished marginally higher, but *NAB* failed to keep up, down 0.9%, as it reported falling NIM. The *Big Bank Basket* was up 0.1% to $184.70. *Energy* was mixed. *Oil* stocks did okay despite a falling oil price overnight. *WDS* was up 0.5%, *STO* was 0.9%, and *ORG* was up 0.7%. But *coal* stocks took a bit of a hit, as *WHC* reported negative impacts weather impacts, down 8.5%. *Technology* stocks lagged, the *All-Tech Index* was down 1.5% and the worst sector. *REA* fell 4.3% on its results despite lifting revenue and commenting that listings are positive. *Industrials* were mostly lower, *WOW* and *COL *were down around 0.5%. Healthcare s…
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Nov 8, 2022
Marcus Today Pre-Market Podcast – Wednesday 9th November
Another strong rally in the US as the* Dow climbed 335 points *(1.02%). At worst, up 4, and at best, up 528. The *NASDAQ *gained 52 points (+0.49%), and the *S&P 500* rose 21 points (+0.56%). It was the third winning session for US stocks ahead of the midterm results. In Europe, *Stoxx* *50* +0.8%, *FTSE* +0.1%, *CAC* +0.4%, *DAX* +1.2%. *SPI Futures are up 34 points* (+0.49%), as we look to test the 7000-resistance level again.
Catch up on the latest news with Marcus Padley’s Pre-Market Podcast.
*Why not **sign up for a free trial**? Get access to expert insights and research and become a better investor.*
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Nov 8, 2022
Marcus Today End of Day Podcast – Tuesday 8th November
ASX 200 closed up 25 points to 6959 (0.4%) in very tight trade. Volumes down too. Banks bounced back as *WBC* ran 2.0% and the *Big* *Bank* *Basket* rose to $184.49 (1.2%). *MQG* up 0.9% with insurers flat and *MFG* slightly higher despite Hamish selling down another parcel on a block trade. Industrials slightly higher as staples rallied, *EDV*, *COL*, *WOW* and *WES* all better, *REITs* better despite 10-year yields scything through 4%. Tech marooned with the *Al* *Tech* Index unchanged. Resources were mixed as lithium stocks continued to power up, *PLS* up 4.4%, *CXO* up 3.8% and *MIN* rising 5.0%. Iron ore stocks eased with gold miners seeing some small gains. *NCM* up 0.2% and *NST* up 1.2%. Oil and gas fell, *WDS* down 1.2% and *STO* with a reduced production forecast falling 5.3%. Coal stocks not in a merry place at all, *WHC* down 5.5% and *NHC* off 7.8%. Incorporate news, *MPL* was threatened with a data dump on the Dark Web by a RaaS (Ransom as a Software) provider, falling 1.…
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Nov 7, 2022
Marcus Today Pre-Market Podcast – Tuesday 8th November
ASX 200 SPI Futures up 24 points.
* The Dow Jones Industrial Average traded higher by 423.78 points, or 1.31%, to 32,827.00. The S&P 500 gained 0.96% to 3,806.80. The Nasdaq Composite rose 0.85% to 10,564.52, after trading between gains and losses earlier in the session. All three major averages notched a second straight positive day.
* Of the 11 S&P 500 sector indexes, eight rose, led by communication services which was up 1.83%, followed by a 1.73% gain in energy.
* VIX down 3.4%
* USD Index falls again. AUD 64.77c
* Oil down 0.7%. Gold unchanged.
* Base metals ease slightly. Lead up 2.1%
* Iron ore up 2.3% BHP down 0.5% in ADRs
* Midterms loom in US.
* JHX announces no dividend but US$200m buy back.
Catch up on all the latest with Henry Jennings on today’s Pre-Market Podcast.
*Why not **sign up for a free trial**? Get access to expert insights and research and become a better investor.*
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Nov 7, 2022
Marcus Today End of Day Podcast – Monday 7th November
ASX 200 closed up 41 points at 6934 (+0.6%) in a quiet day as banks fell and resources rose. A solid day for resources which despite no easing in China, managed to do well. Asian markets better too helping. *BHP* up 5.0%, *RIO* up 3.8% and *FMG* rallying 4.9%. Gold miners were back in fashion despite no movement at all in AUD bullion pricing. *NCM* up 4.2% and *NST* rising 6.1% with second liners doing well, *DEG* up 6.2% and *RMS* ahead by 6.6%. Lithium stocks were modestly higher with *LYC* doing well up 3.0% and *IGO* up 2.2%. Energy stocks mixed as *WDS* gained 2.6% and *STO* flat. Coal stocks a little flat after *CRN* fell 7.1% on no merger with Peabody announcement. Banks were the weak spot today, *ANZ* and *MQG* ex dividend didn’t help but WBC underdelivered falling 3.9%. The *Big* *Bank* *Basket* falling to $182.33 (-2.1%). Insurers held up, *MPL* rose 0.4% after saying it would not pay a ransom. Healthcare was mixes, *CSL* better but *RMD* dropping 3.3%. Industrials flat, te…
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Nov 6, 2022
Marcus Today Pre-Market Podcast – Monday 7th November
* *Dow Jones up 402 in high volume *(+1.26%). Down 62 at worst and up 610 at best. *S&P 500* +1.34%. *NASDAQ* +1.28%. The US markets had a pretty shabby week last week with the Dow Jones down 1.4%, the NASDAQ down 5.6% and the S&P 500 down 4.6%. STOXX 600 index up 1.81% overnight with the UK market up 2% and Germany up 2.5%, France up 2.8%. The Chinese market was up 5.3% last week. The Hang Seng (Hong Kong) was up 5.3% on Friday.
* *SPI Futures up 91* this morning. That follows a 35 point rise in our market on Friday. The ASX 200 was up 116 points (1.66%) last week. It was led higher by the resources sector (+3.53%) and the energy sector (+4.96%). Gold the loser of the week down 2.05% although the gold price is up a big $50 overnight (+3.12%) so the gold sector looking good for a bounce.
* Over the weekend the Chinese have denied any changes to CV19 policy so we are unlikely to see such a good response from our market today.
* WBC results out this morning $5.28bn cash profit and…
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Nov 4, 2022
Marcus Today End of Day Podcast – Friday 4th November
*ASX 200 up 35 points to 6893*. Up 1.5% for the week. Australia outperformed the US markets this week, helped by a 113-point rise on Tuesday as the RBA went soft yet again with a 25bp rate rise. The RBA upgraded inflation and downgraded GDP forecasts in their Statement on Monetary Policy today. GDP forecast to fall below 2.00% from mid-2023. Bond yields fell in Australia on the back of that. The RBA see inflation above their 2-3% target through 2024. A range of 65 points for the day as the market awaits US Jobs numbers tonight. Closed pretty much on its highs led by Resources which were chasing a 5% rally in the Dalian iron ore price.
*Why not **sign up for a free trial**? Get access to expert insights and research and become a better investor.
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Nov 3, 2022
Marcus Today Pre-Market Podcast – Friday 4th November
*Dow Jones down 147 points* (-0.46%). Not a bad performance considering at one point it was down 421 points. It was up 38 points at best. *NASDAQ* down 1.73% (ouch) with the *S&P 500* down 1.04%. The STOXX 600 index was down 0.93%, Germany down 0.95%. US bond yields rose yet again, quite savagely unfortunately. US 10 year bond yield up 8bp and the two-year up 14bp. The US dollar also (irritatingly) jumped a massive (massive!) 1.42% overnight taking the Aussie dollar down to 62.92c.
Catch up on the latest news with Marcus Padley’s Pre-Market Podcast.
*Why not **sign up for a free trial**? Get access to expert insights and research and become a better investor.
*
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Nov 3, 2022
Marcus Today End of Day Podcast – Thursday 3rd November
ASX 200 fell 129 points to 6858. Off lows but caution remains. Losses across the board with the *Big* *Bank* *Basket* down to $186.24 (-1.6%). *MQG* down 1.4% with insurers holding up as 10-year yields rose to 3.91%. *MPL* up slightly. Fund mangers in focus as *PPT* rose 7.1% on a potential bid, *PDL* dropped 10.7% as its party could be spoilt and *MFG* just lost 5.7%. Healthcare down as *CSL* fell 1.6% dragging *SHL* lower and *COH* falling 3.5%. Industrials weaker, staples in focus on *WOW* numbers, *COL* fell1.0 %, *WES* down 3.8% and *EDV* off 1.4% with *WOW* falling 3.5% on quarterly results. *TLSDA* gained as a defensive up 1.3% but *REITs* sliding on rate woes. *GMG* down 0.8% with *LLC* down 8.7% on a strategy update. Tech on the nose again, the Index down 1.5%, *XRO* off 2.0% and *SQ2* off 5.7% as US slumped. Resources fell with *BHP* down 3.2%, *FMG* off 2.9% and *RIO* down 2.2%. Lithium was a little depressed, *PLS* down 1.4% and *MIN* off 3.1%. Gold miners fell despite no c…
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Nov 2, 2022
Marcus Today Pre-Market Podcast – Thursday 3rd November
*The Fed offered little relief for investors overnight*. Despite lifting rates by 75bps as expected, Jerome Powell's hawkish comments following the decision spooked the *Dow Jones into a* *505-point loss *(-1.55%) finishing just off lows. At best it was up 419 points following the rate rise, then dropped over 930 points on Powell's comments. The* S&P 500 fell 96 points* (-2.5%), and the *Nasdaq *took the biggest hit,* falling 366 points* (-3.4%). In Europe, *Stoxx 50* -0.8%, *FTSE *-0.6%, *CAC *-0.8%, and *DAX *-0.6%. *SPI Futures are down 113 points* (-1.62%).
* Fed delivers big rate hike, signals possible smaller increases ahead
* Stocks end down, yields up as Powell sticks to hawkish stance
* Powell sees higher peak for rates, path to slow tempo of hikes
* Wall Street sees ‘devil’s bargain’ in Powell’s rate comments
* Ukraine grain export deal back on track as Russia resumes participation
* North Korea fires 23 missiles, one landing off South Korean coast for fi…
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Nov 2, 2022
Marcus Today End of Day Podcast – Wednesday 2nd November
ASX 200 rose 10 points to 6987 (0.1%). A cautious day today ahead of Fed meeting outcome. 75bps the forecast, Q&A will be the focal point. A mixed sessions as banks eased, the *Big* *Bank* *Basket* up to $189.19 (0.1%). *MQG* slipped 1.8% with insurers solid as *MPL* rose 1.0%. Healthcare slipped a little with *CSL* down 0.2% after announcing a new deal down. Industrials weaker, *WOW* down 0.8%, *EDV* down 1.3% and *COL* sliding 0.8%. *TLSDA* also slightly weaker with no real interest. Tech stocks fell, *XRO* down 3.4%, *WTC* off 2.5% and the *All*-*Tech* *Index* down 0.8%. Resources were mixed as lithium stocks took a break *PLS* down 4.0%, *MIN* off 1.7% and *AKE* falling 3.9%. Base metals and iron ore better, *BHP* up 2.1% with *FMG* up 1.5% and *RIO* rising 2.4%. Gold miners were slightly firmer as bullion rose slightly. *NCM* up 1.6% and *NST* rising 1.2%. Energy stocks doing well on crude rises and coal stocks back in favour. *WDS* hitting highs up 1.2% and *STO* up 0.8% with *WH…
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Nov 1, 2022
Marcus Today Pre-Market Podcast – Wednesday 2nd November
* The *Dow Jones fell 80 points* (-0.2%) overnight as the market prepares for the Fed Decision tonight. The *Nasdaq* had the biggest losses, *down 97 points* (-0.9%), and the *S&P 500 fell 16 points* (-0.4%). The losses followed some *stronger-than-expected economic data*, with job openings and construction rising, although the S&P Global manufacturing index fell. Mega-cap tech stocks weighed on the Nasdaq again, with Amazon falling 5.5%. In Europe, *Stoxx* *50* rose 0.9%, *FTSE* was up 1.3%, *CAC* was up 1%, and *DAX* climbed 0.6%. *SPI Futures are up five points this morning*.
* *US treasuries were mixed*, 10-year yields fell by 3bps to 4.05%, but 2-year yields rose by 4bps to 4.55%. Not a lot of action in the FX market overnight, though most currencies were weaker against the US Dollar. The USD Index fell 0.04%. *The probability of a 75bps rise at tonight’s meeting is now 85.5%*.
* *The iron ore price has fallen over 16% in the last month on Chinese concerns*. But news headlin…
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Nov 1, 2022
Marcus Today End of Day Podcast – Tuesday 1st November
ASX 200 soared *113 points* to 6977 (1.7%) as buyers emerged pre the *RBA* meeting and kicked a little higher after the central bank raised rates 25bps as widely anticipated. Banks led the charge higher with the *Big* *Bank* *Basket* up to $189.05 (1.2%). *MQG* pushed another 1.5% higher with insurers also in demand on higher rates. *IAG* up 1.6% and *QBE* rallying 2.3%. *MPL* rallied 1.4% too as the hack fallout subsides. Even *MFG* rallied 2.1%. Healthcare in demand, *CSL* up 1.0%, *RMD* finding buyers up 2.1% and *FPH* up 2.4%. Industrials were firm but a little uninspiring, *WES* rose 1.4%, *WOW* up 1.4% and *ALL* up 1.8%. Old skool platforms stocks mixed, *CAR* up 2.2% and *REA* down 0.4%. Tech was slightly better by 1.5%. *WTC* up 1.8%, *NXT* bounced back 5.4%, *CPU* up 0.9%. Resources were in demand, *BHP* up 2.8% despite iron ores recent falls. *RIO* up 2.6% and *FMG* also showing a clean pair of heels up 5.4%. Lithium stocks remain in favour, *PLS* up 4.3%, *CXO* up 4.0% and *…
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Oct 31, 2022
Marcus Today Pre-Market Podcast – Tuesday 1st November
*US markets saw a little selling pressure last night with the Dow falling 128 points* (-0.4%) at 32732. The* S&P 500* fell 0.75% to finish at 3872. *Nasdaq *though fell harder with the index down 1.03% to 10988. October has been a good month for the market with a near 14% gain in the Dow for its best month since 1976. The S&P and Nasdaq gained about 8% and 3.9%, respectively, for October. This is the best October ever. In Europe, *Stoxx 50 *+0.1%, *FTSE *+0.7%, *CAC *-0.1%, and *DAX *+0.1%. *ASX SPI Futures are up 10 points.
Technology and communications stocks were the biggest drags* on the broader market. *Apple *fell 1.5%, and *Google’s *parent fell 2%. Communication services fell 1.7%. *November has historically been one of the strongest months* of the year for US stocks. The S&P 500 has experienced an average gain of 0.82% with positive returns 69% of the time, according to data going back to 1983. *Morgan Stanley *has called for the rally to reach 4000-4150 but now leaning tow…
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Oct 31, 2022
Marcus Today End of Day Podcast – Monday 31st October
*ASX 200 pushed another 78 points higher to 6864* (+1.2%) as *Tech* rebounded. Everything performing well except *Resources *and *Energy*. *Banks *pushed higher again as the *Big Bank Basket rose to $186.77* (+1.3%). *Insurers *positive, *AMP *up 4.6% and *MPL *finally moving up 0.7%. *Healthcare *made steady gains, with *CSL *up 2.3% and *IDX *up 6.9%. *Industrials *were positive as the sector moved up 1.1%, *TLSDA *up 1.6% and *RWC *doing well up 3.6% as bond yields marginally increased to 3.74%. *RBA decision tomorrow.REITs *happy, WES up 3.2% and *PBH *bouncing up 3.6%. *Tech *stocks were winning today with the* All-Tech* index up 2.6%. XRO doing a backflip on last week and bouncing 4.6% and *Resources *still hurting as *iron *ore stocks continue to fall, *BHP *down 0.3%, *RIO* down 0.4%. *Lithium *stocks having a good day with, *PLS *up 4.5% and *CXO *up 3.4%. *Gold *miners the worst performer of the day, *NCM *dropping 2.6% and *GOR *down 3.2%. *Coal *had a mixed day with *YAL *d…
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Oct 30, 2022
Marcus Today Pre-Market Podcast – Monday 31st October
* *Dow Jones up 829 points *(2.59%) closing pretty much on its highs. *NASDAQ* up 2.87% after a 7.6% bounce in Apple and a 4% recovery in Microsoft after results this week. Intel also up 10.7% and Nvidia was up 5.0%. *S&P 500* up 2.46%. Caterpillar continued its rally up 3.4% after results last week. It was up 17.5% for the week. Exxon Mobil was up 2.9% on results with Chevron up 1.2%.
* *The Dow Jones was up a solid 5.72% last week* with the NASDAQ up 2.24% and the S&P 500 up 3.95% which was a remarkably good performance considering the drop in Tech stocks on the back of a week of poor results reactions.
* The *SPI Futures are up 92 points* which makes up for the 59 point drop on the ASX 200 on Friday. The Friday performance was driven by a 3.56% drop in the resources sector offset by a 0.7% rise in the bank sector.
* *Bond yields in the US rose on Friday *with the 10 year bond yield up 7bp and the two year bond yield up 9bp, but there was still a substantial drop in bond yields…
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Oct 28, 2022
Marcus Today End of Day Podcast – Friday 28th October
*ASX 200 finished the week down 59 points* to 6786 (-0.9%) as *resources *fell hard on *iron ore* falls.* For the week the index rose 1.6%* with *Banks* better again as the *Big* *Bank* *Basket* rose to $184.42 (0.7%). *ANZ* recovered from early losses to close up 0.9% on broker commentary. *MQG* down slightly giving back early gains, *Insurers *mixed, *QBE* down 0.4% and *MPL* down 2.8%. *Healthcare *took flight with *RMD* leading the sector down falling 5.0% on quarterly results. *CSL* dropped 0.6% and *CUV* lower by 5.2%. *Industrials *were mixed, some buying of defensives, *TLSDA* up 0.3% and *TCL* doing well up 2.2% as bond yields dropped to 3.76%. *RBA* beckons next week. *REITs* mixed, *GMG* off 1.1% with *SCG* up 4.0%. *Tech *stocks were down but not out with the *All-Tech* index down 1.5%. *XRO* continued to slide down another 2.8% with our own ‘Amazon Lite’ *KGN* falling 3.0%. *Resources *were hurt today as *iron ore* stocks fell hard, *BHP* down 5.0% (30 index points alo…
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Oct 27, 2022
Marcus Today Pre-Market Podcast – Friday 28th October
* ASX SPI Futures down 26 points to 6813.
* The Dow climbed 194.17 points, or 0.6%, to end at 32,033.28 for its fifth day of wins driven by results from Caterpillar.
* The S&P 500 closed down 0.6%, ending the session at 3,807.30. The Nasdaq Composite lost 1.6%, closing at 10,792.68, as a rout in Meta and other tech stocks weighed on the index.
* After hours Amazon has fallen close to 20% on very disappointing results an doutlook. Apple is flat after its results with some hits and misses on numbers.
* Autos, biotech, MedTech, trucking, industrial metals, apparel, semis, tech hardware also among the laggards. Energy, media, machinery, multis airlines exchange sasset managers among the outperformers.
* Meta’s Reality Labs division, which houses its VR headsets, lost over $9bn in the first three quarters. Morgan Stanley, Cowen and KeyBanc downgraded Meta on Thursday, citing increased spending.
* Core Scientific, one of the largest publicly traded crypto mining companies in th…
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Oct 27, 2022
Marcus Today End of Day Podcast – Thursday 27th October
ASX 200 pushed another 34 points higher to 6845 (0.5%) despite bank weakness after *ANZ* results. Six-week high. MQG tomorrow. The *Big* *Bank* *Basket* fell to $183.08 (0.1%). CBA managed a gain of 0.4% as its out of cycle. *ANZ* down 3.3% on results and outlook. *MQG* up 0.3% with insurers also doing well, *IAG* up 1.0% and *QBE* rallying 1.1%. *MPL* steadied after the rout yesterday. Fund managers mixed, *MFG* down another 0.7%. Healthcare stocks mildly positive, *CSL* up 0.2% and *RMD* rising 0.8%. Industrials firm but unspectacular, *WOW* up 0.7%, *WES* up 0.4% and *TCL* doing well up 1.3% on director buying. Tech slightly better, whilst Resources were higher leading the market. *BHP* up 2.4%, *RIO* up 0.8% and *FMG* falling 0.4% on its quarterly. Base metal stocks and lithium slightly firmer as *S32* recovered some lost ground up 3.0% and *PLS* rallied 2.6% after 7% sell off yesterday. Gold miners heading higher, *NCM* up 3.2% and *NST* rallying 4.3%. Oil and gas stocks better as…
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Oct 26, 2022
Marcus Today Pre-Market Podcast – Thursday 27th October
* ASX 200 SPI Futures up 26. Resources to shine. ANZ in focus. MQG Results.
* *US equities *were mixed in Wednesday trading. S&P and Nasdaq both finished lower after rallying for a third straight session on Tuesday and finishing at best levels in over a month. The Nasdaq dropped 228.12 points, or 2.04%, to close at 10,970.99. The Dow Jones Industrial Average gained 2.37 points, roughly flat for the day and ending at 31,839.11. S&P 500 lost 0.74%, ending at 3,830.60.
* Metals, healthcare, payments, rails, autos, IBs, semi-cap equipment, casual diners, grocers, tobacco among best performers. *Most groups held up despite megacap tech weakness.*
* Advancing stocks outnumber declining ones by a roughly 2-to-1 margin in the NYSE Composite, according to FactSet. In the S&P 500, the split is nearly 60-40 with advancers in the lead.
* Meta results after hours saw losses again. Down 12% after hours. Meta Platforms beat estimates for quarterly revenue on Wednesday as its dominance of the…
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Oct 26, 2022
Marcus Today End of Day Podcast – Wednesday 26th October
ASX 200 closed up 12 points to 6811 (0.2%) as caution crept in following worse than expected *CPI* numbers.7.3% is a big number and has sent economists to the models ahead of the *RBA* next week. Solid opening saw sellers take a few profits. Maybe time to consolidate. Bank results start tomorrow. Sector remain strong with the *Big* *Bank* *Basket* up to $183.92(0.3%). *CBA* up 0.2% and *ANZ* up 0.5% ahead of its numbers tomorrow. *MQG* rose 0.6% ahead of results tomorrow. *QBE* up 1.2%, *IAG* down 0.6% and *ASX* up 0.1%. *MPL* returned to trade falling 18.1% after its cyber attack update. Healthcare mixed, *CSL* slipped 0.3% with *RHC* and *SHL* slightly better. Industrials mixed, *TLSDA* up 0.5%, *TCL* up 1.7% with *WES* continuing to struggle down 0.5%. *WOW,* *EDV* and *COL* all lost ground yet again on inflation woes. Tech eased with the All-Tech Index unchanged. Resources mixed, some profit taking in lithium stocks as *PLS* fell 7.1% as brokers moved to take profits. *AKE* also ea…
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Oct 25, 2022
Marcus Today Pre-Market Podcast – Wednesday 26th October
* ASX 200 SPI Futures up 56 points (0.8%)
* Dow Jones up 337 points (1.1%) near highs for the day. Three days of gains.
* Nasdaq up 247 points (2.3%)
* S&P 500 up 62 (1.6%)
* Google and Microsoft disappoint.
* Results in focus. Buy backs kicking off again.
* Oil rises 0.3% Bitcoin up 4%
* Gold unchanged. Copper down 0.8%
* Nasdaq Golden Dragon Index rallies 4.6%
* Australian CPI today. Budget analysis.
Catch up on all the latest with Henry Jennings on today’s Pre-Market Podcast.
*Why not **sign up for a free trial**? Get access to expert insights and research and become a better investor.*
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Oct 25, 2022
Marcus Today End of Day Podcast – Tuesday 25th October
ASX 200 closed up 19 points to 6799 (0.3%) ahead of tonight’s budget and US results drop. Banks good, resources bad today. The *Big* *Bank* *Basket* closed at $183.33 (%) with *CBA* and *NAB* the best of the bunch. *MQG* piled on some points rising 2.2% ahead of the interim number on Thursday. Insurers better too, *QBE* up 1.1% and *SUN *rising 1.9%. Industrials generally led the way with *CSL* up 1.1%, *FPH* up 1.5%, *REITs* rising on lower 10-year yields. Some friends appearing for staples like *WES*, *WOW* and *COL* even *TCL* managed a rise today of 0.6%. Tech going nowhere though, the *All*-*Tech* *Index* becalmed up a mere 0.6%. *XRO* up another 0.7%. Resources though under pressure from the open. *BHP* down 1.4% and *FMG* slipping 3.0% on China woes. *RIO* off 1.4% and *S32* suffering from broker downgrades. *MIN* down 1.8% on iron ore exposure as lithium stocks in places kicked higher again although some steam running out of *PLS* down 0.4% following quarterly. Energy tickled…
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Oct 24, 2022
Marcus Today Pre-Market Podcast – Tuesday 25th October
* ASX 200 SPI Futures up 28 points (0.4%)
* Dow Jones up 417 (1.3%)
* S&P 500 up 45 (1.2%)
* Nasdaq up 93 points (0.9%)
* US 10 year yields 4.24%
* Gold unchanged. Oil unchanged.
* Base metals mixed. Iron ore eases.
* UK has a new PM.
* US results beckon.
Tune in to Henry Jennings’ Pre-Market Podcast to get in the know for the day ahead.
*Why not **sign up for a free trial**? Get access to expert insights and research and become a better investor.*
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Oct 24, 2022
Marcus Today End of Day Podcast – Monday 24th October
*ASX 200 closes up 103 points* to 6779 (+1.5%). Big jump straight out of the blocks but off highs as Chinese GDP and politics sends HK down 5% and US futures give up Sunday night gains. Volume remains on the modest side, *Banks *shining ahead of the results later this week and to come, the *Big* *Bank* *Basket* now at $181.57 (+0.9%). *CBA* doing well up 1.2% and *MQG* finding some support up 2.4%. *Insurers *gained with *IAG* up 2.1% and *QBE* rallying 0.5%. *Industrials *were firm but somewhat underwhelming. *TLS* rose 0.5%, *WOW* up 1.2% and *WES* up 2.1%. Healthcare better, *CSL* up 2.1%, *RMD* up 1.9% and *FPH* up 2.4%. *Tech *stocks rose 2.7% with *XRO* up 3.5% and *NXT* up 3.1%. *Resources *were the driving force today with *BHP* up 2.6% being nearly 15 points of index gains. *RIO* up 1.2%, *FMG* rallying 2.5% and even *gold *miners gaining ground as the USD falls. *NCM* up 2.9% and *NST* up 5.0%. *EVN* a stand out up 7.7%. *Lithium* and *battery tech *stocks once again in favou…
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Oct 23, 2022
Marcus Today Pre-Market Podcast – Monday 24th October
* ASX 200 SPI Futures up 95 points.
* Dow Jones soars 749 points (2.47%) WSJ helps sentiment on rate rises.
* S&P500 up 87 points (2.4%)
* Nasdaq up 245 points (2.3%)
* VIX falls 1% USD under pressure. AUD hits 64c.
* Banks and resources in focus. Oil up 1.1%
* Gold rallies 1.1% on lower USD.
* Base metals mixed.
* US 10-year yield falls to 4.22%
* Johnson pulls out of UK OM race.
Get up to speed with Henry Jennings’ Pre-Market Podcast.
*Why not **sign up for a free trial**? Get access to expert insights and research and become a better investor.*
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Oct 21, 2022
Marcus Today End of Day Podcast – Friday 21st October
ASX 200 dropped from the open closing down 54 points at 6677 finishing the week down 1.2%. Quiet trading, volumes boosted by options expiry. 10-year bond yields ramped higher again at 4.22%. Banks on the nose today with the *Big* *Bank* *Basket* down to $179.96 (1.5%). Insurers also falling foul to sellers, *QBE* down 2.8%, *SUN* off 2.2% and *MFG* sinking into oblivion, down another 2.8%. Industrials falling again, *REITs* suffering on the higher bond yields, *GMG* down 3.6% and *TLSDA* down 1.6%. Staples off as price rises due to floods set to kick inflation higher. Nothing *RBA* can do about that. *COL* off 1.5% and *WOW* down 1.4%. Tech unchanged after the drubbing yesterday. Resources tried to hold the line but in the end, *BHP* slid 0.7% with *FMG* off 1.0%. *MIN* up 3.1% and lithium stocks bid again, although *AKE* off on production delays. Oil and gas stocks doing well as *WDS* rose 2.6% and *STO* up 0.9%.
In corporate news, *BCB* fell 13.3% on a placement, other coal stocks r…
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Oct 20, 2022
Marcus Today Pre-Market Podcast – Friday 21st October
* ASX 200 SPI Futures down 25 points.
* Dow eases back 90 points to 30334 (0.3%)
* S&P 500 down 29 points (0.8%)
* Nasdaq falls 66 points to 10615 (0.6%)
* Snaps falls 25% after hours on results.
* IBM better on numbers.
* Fed chiefs once again warn on higher rates.
* 10 - year yields up to 4.24%
* Base metals better. Copper up 2.4% Oil unchanged.
* Gold better by 0.2% Iron ore unchanged.
* Liz Truss resigns as UK PM.
Tune in to Henry Jennings’ Pre-Market Podcast to get in the know for the day ahead.
*Why not **sign up for a free trial**? Get access to expert insights and research and become a better investor.*
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Oct 20, 2022
Marcus Today End of Day Podcast – Thursday 20th October
* ASX 200 falls 69 points to 6731 (1%). Rallied a little but Asian markets weaker hurting sentiment. Banks help up well with the *Big* *Bank* *Basket* up to $182.41 (0.4%). *MQG* though continued to be pressured falling 2.9% with insurers flat. Fund managers falling away again, *GQG* down 3.6%, *MFG* off another 4.8% and *PDL* down 3.0%. Healthcare stocks slipped led by *CSL* down 1.9%, *COH* off 3.3% and *RMD* down 2.2%. Industrials eased as *WES* fell 0.8%, *BXB* down 2.0% and *TCL* off 1.1% on rising yields. Telcos and ‘old skool’ platforms slid, *TLS* down 0.8%, *REA* falling 4.2%. Tech down and small tech remains under pressure, *XRO* down 5.2% and the *All-Tech Index* down 3.7%. Resources were an unhappy place to be as China wallows in CV19 protectionism, although there are some signs of easing quarantine for incoming passengers. Unlikely to help much. *BHP* fell 2.3%, *FMG* off 4.0% and base metals stocks under pressure, *S32* down 2.7% and *LYC* down 4.2%. Lithium companie…
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Oct 19, 2022
Marcus Today Pre-Market Podcast – Thursday 20th October
*Dow Jones finished down 100 points* (-0.33%). Up 138 at best, down 297 at worst. *Nasdaq* down 0.85%, *S&P 500* down 0.67%. *VIX Volatility Index* rose 0.9%. European markets ran out of steam, *STOXX 600 *down 0.53%, *UK *down 0.17%, and *Germany *down 0.19%. *SPI Futures are down 47 points *(-0.69%).
Catch up on the latest news with Marcus Padley’s Pre-Market Podcast.
*Why not **sign up for a free trial**? Get access to expert insights and research and become a better investor.*
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Oct 18, 2022
Marcus Today End of Day Podcast – Tuesday 18th October
And just like that,* the ASX 200 recovered yesterday’s losses and then some*, rallying from the open and pushing higher into the close, *up 115 points* (+1.7%), *to 6779*. Most sectors managed to climb higher, with energy lagging, the only sector in negative territory. *Technology *stocks leading the way, with the *All-Tech Index* rallying 4.2%. The big tech names had a day to remember, *SQ2 *up 10.7%, *XRO *up 5.9%, and *WTC *up 4.8%. Resources were mixed, as base metals struggled to make any notable gains, with *BHP *up 1.4%, *FMG *up 1.0%, and *RIO *just climbing higher on third-quarter production numbers, up 0.1%. *Gold, *on the other hand, pushed higher after a tough day yesterday, *NCM *up 4.6%, *NST *up 5.6%, and *EVN *up 5.3%. The *banks *continued their recent strength, with the *Big Bank Basket* pushing through $180, closing up at $180.64 (+1.6%), with *CBA *adding 1.7% and *WBC *adding 2.4%, but *MQG *was the standout in the sector, up 5.3%. Other financials performed well…
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Oct 17, 2022
Marcus Today Pre-Market Podcast – Tuesday 18th October
*Dow Jones up 551 points *(+1.86%). It was up 363 at worst and up 677 at best. *NASDAQ *up 3.43%. *S&P 500* up 2.52%. VIX Volatility Index down 1.8%. European markets also higher with the STOXX 600 index up 1.83%. UK up 0.9% in Germany up 1.7%. *SPI Futures up 61 point*s this morning. Two drivers of the overnight rally include some solid earnings numbers and a policy reversal in the UK.
Catch up on all the latest with Marcus Padley on today’s Pre-Market Podcast.
*Why not **sign up for a free trial**? Get access to expert insights and research and become a better investor.*
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Oct 17, 2022
Marcus Today End of Day Podcast – Monday 17th October
ASX fell hard from the open closing down 94 points at 6664 (1.4%). All sectors eased but resources and iron ore especially bore the brunt. *BHP* down 2.3%, *RIO* off 2.6% and *FMG* falling 1.2%, not helped by Xi’s speech over the weekend on CV19 Zero. Gold miners fell hard too despite *AUD* bullion prices rising yet again as the AUD hovered around 62c. *NCM* down 1.8% and *NST* off 4.0%. Base metal miners also on the nose, *IGO* falling 1.6% after the MD died on the weekend unexpectedly. Lithium stocks in demand with *PLS* pushing 2.1% higher and *LTR* and *CXO* having a good day out, both in the top performers on the day. Record high prices in China. Oil and gas stocks fell after crude falls on Friday although Asian oil slightly higher at least. Coal stocks also took a breather. Banks were weak but outperformed, the *Big Bank Basket* falling to $177.71 (0.6%), *CBA* down 0.8% and *MQG* dropping 4.2%. Insurers also stumbled lower as *QBE* fell 4.1% and *IAG* up 1.6% despite announcin…
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Oct 16, 2022
Marcus Today Pre-Market Podcast – Monday 17th October
* ASX 200 SPI Futures down 102 points (1.5%)
* Dow falls 404 points on inflation fears again Closes near lows.
* Nasdaq down 328 points (3.1%)
* S&P500 down 83 points (2.3%)
* USD continues higher. AUD at 62c. 10-year yields at 4.02%
* Commodities slip with Nickel down 3%. Gold down 1.4$
* Brent Crude falls 3.3%. Iron ore 0.6% higher ahead of Chinese news.
* US reporting season kicks off mixed.
Catch up on the latest news with Henry Jennings’ Pre-Market Podcast.
*Why not **sign up for a free trial**? Get access to expert insights and research and become a better investor.*
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Oct 14, 2022
Marcus Today End of Day Podcast – Friday 14th October
ASX bounced hard up 116 points to 6759 (1.8%) for a 4-point loss for the week. The hard way. Solid bounce but lacking volumes and still some caution. Banks carried through with the recent strength with the *Big* *Bank* *Basket* up to $178.84 (%). *CBA* up 0.8%, *NAB* up 1.6% and *MQG* rallying 2.4%. Insurers too in demand together with Fund Managers, *MFG* up 2.5% and *QBE* up 5.1%. *ASX* up 3.1% with *CGF* also doing well up 4.1%. *MPL* suspended still on hacking concerns. In the healthcare sector, *CSL* up 1.4% with all stocks finding friends, *SHL* up 1.0% and *COH* rising 5.1%. Industrials also bouncing hard as expected. *EDV* up 2.4%, *WOW* up 2.6% and *COL* up 2.5%. *QAN* continued to push higher on broker upgrades, up 3.2%. *WES* up 1.7% and tech stocks doing OK too. The *All*-*Tech* *Index* rose 1.8% with *CPU* the stand out up 2.6%. *REITs* firmed as yields came off slightly. Resources also in demand although lithium stocks were a little depressed. *PLS* continuing to find pro…
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Oct 13, 2022
Marcus Today Pre-Market Podcast – Friday 14th October
* ASX 200 SPI Futures up 110 points.
* Dow reverses 500 point loss to close up 828 points (2.8%)
* Nasdaq up 232 points (2.2%)
* S&P500 up 93 points (2.6%)
* US Core CPI hits 40-year high. Bond yields off highs.
* US Banks soar on CPI.
* VIX drops 4.8%. USD falls.
* Oil gains 2.6% Gold down 0.5%
* Base metals mixed but unspectacular.
* Iron ore eases back. RIO in the hunt for lithium projects in news.
Tune in to Henry Jennings’ Pre-Market Podcast to get in the know for the day ahead.
*Why not **sign up for a free trial**? Get access to expert insights and research and become a better investor.*
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Oct 13, 2022
Marcus Today End of Day Podcast – Thursday 13th October
ASX 200 closes down 5 points to 6643 in thin cautious trade. Late slide into close. US CPI tonight is the focal point. Then results. AGM season continues locally, Banks pushing ahead again following a great run yesterday. The Big Bank Basket up to $177.06 (2.1%). WBC the stand out up nearly 3%. MQG failed to fire falling 0.7% as insurers slipped, QBE down 0.3% and NHF off 12.0% after its cap raise. MPL in a trading halt on word of a cyberattack. Healthcare eased again, CSL off 1.2% and COH down 2.0%. Industrials wafted around, BXB down 1.1%, TCL down 1.0% and REA falling 2.3%. REITs back on defence as yields rose, GMG down 1.4% and SCG fell 2.7%. Tech eased but nothing significant, the All-Tech Index down 0.3% with WTC off 2.4%. In resources, BHP fell 0.8% with lithium stocks a little depressed, PLS off 4.5% and CXO down 2.6%. AKE dropped 5.6%. Gold miners were sightly better with some bargain hunters appearing, NCM up 0.8% and NST rallying 0.7%. Oil and gas stocks down, WDS off 1.4% a…
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Oct 12, 2022
Marcus Today Pre-Market Podcast – Thursday 13th October
*Dow Jones gives away a 216 point rise to close down 28* on the day (-0.1%). NASDAQ almost unchanged down 0.09%. S&P 500 down 0.24%. VIX Volatility index down 0.2%. European markets quietly fading, STOXX 600 index down 0.5%, UK down 0.8%, Germany down 0.4%. No one wants to do anything ahead of the *US CPI number tonight*. Expecting core CPI of +6.5% YonY and +0.5% MonM. Up from 6.4% and 0.3%. So no peak in inflation yet.
Catch up on the latest news with Marcus Padley’s Pre-Market Podcast.
*Why not **sign up for a free trial**? Get access to expert insights and research and become a better investor.*
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Oct 12, 2022
Marcus Today End of Day Podcast – Wednesday 12th October
ASX 200 closed 3 points to 6648 (0.04%) higher as banks rebounded led by *BOQ* and its results report. *BOQ* up 11.1% with *CBA* up 2.4% after its AGM and reaffirmed guidance. The *Big* *Bank* *Basket* rose to $173.33 (2.5%). *WBC* up 3.8% and *ANZ* running hot up 3.3%. Other financials flat with *MQG* down 0.1% and insurers flatlining too. Healthcare fell with *CSL* down 1.1% on its *AGM* comments, *COH* down 2.0% and *RHC* off 0.8%. Industrials pretty uninspiring with some gains in REITs as bond yields fell back a little. *GMG* up 0.5% and *SCG* up 1.9%. *TLS* flat after the *AGM* yesterday and the plan to sell 49.9% of InfraCo. Tech stocks mixed with *WTC* up 1.6% and *XRO* and *CPU* falling. The *All*-*Tech* Index falling 0.8%. Resources were a little weaker as iron ore stocks were sold off, *BHP* down 1.0% and *FMG* continuing to slide 2.8%. *MIN* down 3.7% on no decision yet on processing at Wodgina and iron ore falling in Asia. Oil and gas stocks fell with *WDS* down 1.9% and *S…
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Oct 11, 2022
Marcus Today Pre-Market Podcast – Wednesday 12th October
* ASX 200 SPI Futures down 22 points
* Dow rallies off lows to close up 36 points (0.1%)
* S&P 500 down 24 points (0.7%)
* Nasdaq falls 116 points (1.2%) as chip makers suffer.
* Oil drops another 2% Gold steady.
* Iron ore down 1.1% BHP and RIO down over 2% in ADRs
* Base metals ease. Nickel down 1.8%
* CPI and US Reports in focus.
* CSL and CBA AGMs today.
Get up to speed with Henry Jennings’ Pre-Market Podcast.
*Why not **sign up for a free trial**? Get access to expert insights and research and become a better investor.*
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Oct 11, 2022
Marcus Today End of Day Podcast – Tuesday 11th October
ASX 200 closed down 23 to 6645 as early gains evaporated in thin, convictionless trade. US futures turned south, and bond yields rose with the 10-year heading over 4%. AUD under pressure again. Banks turned lower with the *Big* *Bank* *Basket* down to $169.04 (0.6%). *CBA* and *NAB* on the nose. *MQG* fell 0.6% in a late sell off, insurers unchanged. Healthcare stocks also held up just *CSL* down 0.1% with *RHC* up 1.0%. Industrials were firm but idle, *TLS* rose 0.3% on its *AGM* and restructure plans. Tech slipped slightly but no real damage, *WTC* off 1.3% and the Index down 1.0%. Resources gave up some early gains as *BHP* slid 0.4% and *FMG* fell 2.2%. *S32 *eased 2.9% with lithium stocks remaining well sought, *PLS* up 0.6% and *MIN* up 2.8%. Energy stocks fell harder with *WDS* down 2.4% and *STO* off 1.3% with coal not such a merry old soul, *WHC* off 0.8%.
In corporate news, *BBN* spat the dummy after its update on lower margins and inflation impacts, falling 20.5%. *DBI* ros…
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Oct 10, 2022
Marcus Today Pre-Market Podcast – Tuesday 11th October
* ASX 200 SPI Futures up 12 points
* Dow down 94 points (0.3%)
* Nasdaq off 110 points (1.0%)
* S&P 500 falls 27 points (0.8%)
* VIX up 3.5% to 32.45
* Oil falls 2.3% Gold down 1.6% as USD heads higher.
* Base metals slightly weaker. Iron ore up 2.6%
* Yields up with US 10 years 3.888%
* AUD under 63c
* AGM season kicks off here with TLS.
*Why not **sign up for a free trial**? Get access to expert insights and research and become a better investor.*
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Oct 10, 2022
Marcus Today End of Day Podcast – Monday 10th October
ASX 200 fell 95 points to 6668 (1.4%). Falls across the board with the only bright spot iron ore, *RIO* up 0.9% and *FMG* up 1.9%. Base metals fell slightly as *PLS* dropped 3.9%, S32 down 1.6% and *IGO* off 0.6%. A falling AUD helping the resource sector but no such luck for the gold miners with *NCM* off 4.0% and *NST* down 4.4%. Energy stocks failed to find buyers today with *WDS* down 0.7% and *STO* off 1.0%. Coal stocks also saw some profit taking as *WHC* slipped 4.7%. In the banks the *Big* *Bank* *Basket* fell to $170.08 (2.0%). *CBA* down 1.5% and *MQG* sliding 1.2% with *ASX* off 4.8% and *MFG* falling yet again another 4.1%. Healthcare down, *CSL* off % and industrials eased with REITs suffering from higher 10-year yields. *GMG* down 1.9% and *SCG* falling 1.9%. Tech followed Nasdaq lower with the Index down 3.0% and *WTC* off 2.3%.
In corporate news, *JLG* crashed 14.8% as the CEO sold 4m shares to buy a house in the US. *PPH* rose 4.9% on an increased bid speculation, *TY…
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Oct 9, 2022
Marcus Today Pre-Market Podcast – Monday 10th October
* ASX 200 SPI Futures down 61 (0.9%)
* Dow falls 630 points (2.1%) after better than expected jobs numbers.
* S&P500 down 105 points (2.8%)
* Nasdaq down 421 (3.8%)
* USD better again AUD below 64c.
* 10-year yields unchanged. VIX up 2.2%
* Oil rallies 3.7% Gold down 1.5%
* Base metals ease.
* US reporting season kicks off later this week. US CPI Thursday.
Catch up on all the latest with Henry Jennings on today’s Pre-Market Podcast.
*Why not **sign up for a free trial**? Get access to expert insights and research and become a better investor.*
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Oct 6, 2022
Marcus Today Pre-Market Podcast – Friday 7th October
* ASX 200 SPI Futures down 50 points (0.7%)
* Dow Jones fall 346 points (1.2%)
* S&P 500 down 39 points (1.0%)
* Nasdaq down 75 points (0.7%)
* US yields push higher again. USD back up too. AUD down to 64.10.
* Gold unchanged. Oil continues to push higher up 1.1%
* RBA Financial stability report today. US jobs Friday.
Catch up on the latest news with Henry Jennings’ Pre-Market Podcast.
*Why not **sign up for a free trial**? Get access to expert insights and research and become a better investor.*
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Oct 6, 2022
End of Day Podcast – Thursday 6th October
ASX 200 flip flopped around in quieter trade, finishing up 2 points at 6818. Banks bad. Resources good today. 10-year yields pushing back up today to 3.79% and taking its toll on the *Big Bank Basket* falling to $173.48 (0.5%). *CBA* fell 0.4%, *NAB* down 0.8% with *MQG* firm still up 0.7%. *REITS* fell as rates pushed back up *GMG* down 2.5% and *SCG* off 0.8%. Healthcare suffering from a hangover as *CSL* fell 0.1% and *FPH* dropped 2.8%. Industrials were wishy washy with few highlights either way. *WOW* continued to fall, down 0.8% and *EDV* joined in down 2.2%. *REA* reversed yesterday’s gains dropping 2.8%. Tech showing little change too. The *All*-*Tech* Index down 0.4%. Resources were once again the place to be. *BHP* have been enjoying Golden Week with the stock up another 0.6%, *FMG* and *RIO* more modest gains. *IGO* did well up 1.0% and lithium stocks back in demand as oil prices rose, *PLS* hitting new highs up 5.7%, *CXO* up 1.3% and coal stocks having a merry old time,…
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Oct 5, 2022
Marcus Today Pre-Market Podcast – Thursday 6th October
* ASX 200 SPI Futures down 27 points
* Dow fall 42 points (0.14%) after 2% loss erased on derivatives trade.
* S&P 500 dowwn 8 points (0.2%)
* Nasdaq down 28 points (0.25%)
* US 10 year yields 3.753% pushing back up as was USD Index up 1%
* Gold falls US$31.80 (1.8%) on USD move.
* Oil rises 2% on OPEC Plus 2m barrel a day cut.
* Iron ore unchanged. Metals slightly positive nickel up 2.3%
* US data still pointing to strong labour market. Jobs number Friday.
* Nothing early on corporate front.
Catch up on all the latest with Henry Jennings on today’s Pre-Market Podcast.
*Why not **sign up for a free trial**? Get access to expert insights and research and become a better investor.*
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Oct 5, 2022
End of Day Podcast – Wednesday 5th October
ASX 200 gained another 116 points to 6814 (1.7%). Big runs in the banks continue with the *Big* *Bank* *Basket* up to $174.45 (2.6%). *MQG* rallying another 2.4% with fund managers *GQG* up 3.2% and *MFG* up 1.7%. Insurers rallied as *QBE* up 1.4%. Nothing else really moving. Healthcare up as *CSL* up 1.1%, *RMD* up 3.4% and *SHL* doing well up 1.6%. Industrials firmed with *WES* rising 2.3%, *TCL* up 0.9% and ‘old skool’ platform stocks *REA* up 7.5% and *SEK* up 5.9%. REITs firmed with *GMG* leading the charge up 3.2%. Tech in demand as some of the bombed out stocks rallied hard like *PBH* up 9.1% and *HUB* up 9.7%, *TLX* rallied 11.7%. Resources better but not stunning, *BHP* up 1.1% and *FMG* up 2.4% as *MIN* rose 3.4% with *S32* finding friends on manganese interest, up 3.7%. Lithium stocks eased back as *PLS* unchanged and *CXO* fell 3.4% on drilling news. Energy stocks ahead with OPEC looming, *WDS* up 0.7% and *STO* up 1.9%. Coal stocks flat. Gold miners were mixed, *DEG* i…
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Oct 4, 2022
Marcus Today Pre-Market Podcast – Wednesday 5th October
* ASX 200 SPI Futures up 107 points.
* Dow kicks again another 825 points (2.8%) Closing on highs.
* S&P500 up 111 points (3.0%)
* Nasdaq up 361 (3.3%) Musk bids for Twitter. For real this time.
* 10 year US yields fall 2bps.
* Oil rallies 3.2% Gold up 3.1%
* Metals significantly higher. Iron ore flat as China closed.
* TYR in sights of Big Four Bank.
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Oct 4, 2022
End of Day Podcast – Tuesday 4th October
ASX 200 up a massive 242 points to 6699.3 (3.8%) on rallying US markets and a surprise 25bps rise from the *RBA*. The market kicked higher after the less than expected rise, AUD fell and 10-year yields tumbled to 3.70% Green across the screen with few exceptions. Financials fired higher with the *Big* *Bank* *Basket* up to $169.99 (4.4%). *MQG* rallied 4.5%, insurers rose with *QBE* up 4.3% and fund managers also joined in the fun. *MFG* up 5.2% and *GQG* up 7.3%. Healthcare blossomed, *CSL* up 1.5%, *SHL* up 2.9% and *COH* up 3.8%. Industrials fired, *COL* up 1.4%, *EDV* up 3.9% and *TCL* rallying 3.0%. *REITs* in demand on lower bond yields, *GMG* up 5.7% and *SGP* up 4.3%.
Tech went nuts with the All-Tech Index up 4.8%, *XRO* up % and *CPU* up %. Resources also firing on all cylinders, *BHP* up %, *RIO* up % and base metals all good. *IGO* up 6.3%, *PLS* and other lithium stocks also doing well, *PLS* up 12.3%, *LTR* up 9.3% and *CXO* up 11.8%. Gold miners did well too as bullion r…
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Oct 3, 2022
Marcus Today Pre-Market Podcast – Tuesday 4th October
* ASX 200 SPI Futures up 102
* Dow Jones up 765 (2.6%)
* Nasdaq up 240 (2.3%) Tesla falls 8.6%
* S&P 500 up 91 points (2.6%)
* Oil up 3.8% Gold up 2.3%
* Commodities mixed nickel bounces 0.8%
* Iron ore unchanged. China closed for Golden Week.
* AUD rallies back above 65c. US 10 year yields drop to 3.64% UK government U turn.
* RBA meeting beckons at 2.30pm
Tune in to Henry Jennings’ Pre-Market Podcast to get in the know for the day ahead.
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Oct 3, 2022
End of Day Podcast – Monday 3rd October
ASX 200 finished down 17 points to 6457 (0.3%) in a topsy turvy day of thin volatile trading. NSW holidays kept most players sidelined as the market waited for RBA decision tomorrow (50bps expected). Banks eased along with industrials, the *Big* *Bank* *Basket* closed down at $162.71 (0.1%). *MQG* dropped hard again with insurers also suffering as *QBE* fell 2.0%. Fund managers continued to sell off, *MFG* down 2.6% and *GQG* off 3.3%. Healthcare slipped slightly with *CSL* down 0.6% on media reports of potential Moderna CV19 and flu jab hopes. *RHC* fell 1.3%, *SHL* down 0.3% and defensives slipping. *COL* down 0.8%, *WOW* off 1.3% and *EDV* falling 1.6%. *TLS* gave back 0.3% with tech stocks falling *WTC* down 1.2% and *XRO* sliding another 2.7%. The *All*-*Tech* *Index* dropped 1.3%. REITs better but resources were the strength, *BHP* up 0.2%, *FMG* rising 0.7% but *RIO* down by 0.3%. Base metals and lithium stocks eased, oil and gas better, *WDS* up 1.2% and *STO* up 1.1%. In corpo…
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Oct 2, 2022
Marcus Today Pre-Market Podcast – Monday 3rd October
* ASX 200 SPI Futures up 5.
* Dow closes down 500 points (1.7%) lows of 510 down.
* S&P500 down 55 points (1.5%).
* Nasdaq down 162 points (1.5%).
* European markets better. STOCXX 600 up 1.3%.
* VIX falls slightly. Oil down 1%.
* Gold slightly higher. Commodities mixed. Nickel loses 8.7%.
* RBA meeting tomorrow. NSW Public holiday today.
Catch up on all the latest with Henry Jennings on today’s Pre-Market Podcast.
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Sep 30, 2022
End of Day Podcast – Friday 30th September
*ASX 200 fell another 81 points to 6475 *(-1.2%) as September quarter ends in negativity. For the week, the index is down 100 points and for the quarter a mere 93 points. Some rebalancing taking place and nerves ahead of a long weekend in NSW and a week-long holiday in China. *Banks *well and truly in the doghouse today with the *Big* *Bank* *Basket* down to $162.95 (-2.4%). *MQG* continuing under pressure down 4.2% with insurers flat. *Defensives* in *healthcare *and *industrials *sold off, *CSL* down 0.6%, *COH* off 6.6% and *PME* being hit hard on profit taking down 5.6%. *REITS* eased, tech whacked *WTC* down 5.6% and *XRO* falling 4.3%. The *All*-*Tech* *Index* down big time following Nasdaq, off 3.1%. *Industrials *like *TCL* eased, *BXB* down 2.2% and *TLS* fell 0.8%. *Resources *though were a bright spot especially in the heavily sold off *gold *miners. *NCM* up 2.7% NST up 4.5% and *SBM* up 6.5%. *BHP* better too up 0.9% with *RIO* up 2.7%. *Base metals *and *lithium *stocks e…
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Sep 29, 2022
Marcus Today Pre-Market Podcast – Friday 30th September
What goes up, must come down. The Dow Jones reversed yesterday's gains with a 458 point drop overnight (-1.5%), while the Nasdaq dropped 2.8%. SPI Futures are only down 22 points this morning, hoping to escape some of the damage.
* ASX 200 SPI Futures down 23 points.
* Dow reverses gains from Wednesday falling 458 points (1.5%) off low of down 686.
* Nasdaq drop 314 points (2.8%) Tesla and Apple hot hard.
* S&P 500 down 79 points (2.1) VIX back up 5.5%
* Commodities better. Nickel up 5.3% on LME moves against Russian exports.
* Oil flat. Gold flat. US yields better. 30 year mortgage rate hits 7% , first time since 2008.
* Iron ore unchanged.
* NSW Public Holiday Monday and quarter end.
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Sep 29, 2022
End of Day Podcast – Thursday 29th September
ASX 200 kicks 93 points higher to 6555 (1.4%) after a surge in US markets. Some selling into the close though.A slightly better CPI monthly number. First time we have had a monthly number. Very 21stcentury. Every sector was better. Banks doing well with the *Big* *Bank* *Basket* up to $166.88 (0.8%). *MQG* rallied 0.9% as a market leverage play. Insurers rallied hard too as yields fell, *QBE* up 1.8% and *SUN* better by 1.6%. *ASX* up 2.4% though *IRE* dropped like a stone following a guidance downgrade, down 17.3%. Healthcare better, *CGS* the standout on Alzheimer breakthroughs in US, up 16%. *CSL* up 1.6% and *COH* rising 2.6%. Even *RHC* rallied 1.8%. Industrials too doing well, *WES* up 2.0%, *TLS* up 1.6% and *REITs* back in favour. *GMG* up 0.8% and *SCG* rallying 2.0%. Tech better, the *All*-*Tech* *Index* up 1.3%, *WTC* up 2.7% and ‘old skool’ platform stocks also back in demand, *SEK* up 2.2% and *REA* better by 2.5%. Resources were a good place to be. Gold miners one of…
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Sep 28, 2022
Marcus Today Pre-Market Podcast – Thursday 29th September
A great night in the US, with the Dow Jones climbing549 points (+1.9%), rallying on the back of action from the Bank of England. SPI Futures are up 98 points (+1.5%).
* ASX SPI Futures up 98 points.
* Dow up 549 points (1.88%) Off high of +677 points
* Nasdaq up 222 (2.05%)
* S&P 500 up 72 points (1.97%)
* VIX index down 7.04%
* Commodities mixed. Oil up 6.3%. Gold up 2.3% on USD weakness.
* BoE intervenes. USD falls AUD back to 65c.
* Bon yields tumble. US 10's hit 4% then back to 3.7%
* Monthly CPI at 11.30am - First monthly for Australia.
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Sep 28, 2022
End of Day Podcast – Wednesday 28th September
* ASX 200 falls another 34 points to 6462 (0.5%) as AUD gets hit in Asian woes. Early strength gives way to Asian selling pressure and AUD under siege. Banks in the firing line today with the *Big* *Bank* *Basket* down to $165.51 (0.8%). *MQG* continuing to slip slide away, down 2.5%, *QBE* down 2.2% on Hurricane woes perhaps. *ASX* up 1.6% despite scathing RBA report. Healthcare eased, *CSL* down 0.8% and *RHC* sliding away again down 0.8%. *REITs* weak and industrials also in the doghouse, *WES* down 2.0%, *WOW* off 0.4% and *TWE* off 1.0%. *TLS* rallied 2.7% on Optus woes, and Tech eased back with the index falling 1% as *CPU* dropped 0.6% and *XRO* fell 3.2%. In resources some early strength took a beating as *BHP* rose 0.1%, *RIO* down 0.4% and *FMG* under pressure off 2.1%. Base metals too falling *S32* down 1.1% and *MIN* off 3.7%. Lithium stocks were a little depressed, *CXO* down 7.6% *PLS* falling 2.8% and *AKE* down 3.1%. Oil and gas eased *STO* off 1.3% after *PNG* *LNG* d…
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Sep 27, 2022
Marcus Today Pre-Market Podcast – Wednesday 28th September
The Dow Jones was all over the place last night in a volatile session, closing down 126 points (-0.4%). The S&P 500 fell again last night, now to its lowest level since November. SPI Futures are indicating a 35-point loss this morning, wiping off the gains we saw yesterday.
* ASX SPI Futures down 35 points.
* US markets mixed as early gains evaporate
* Dow down 126 points at the close (0.4%) Dow down 21% from high.
* NASDAQ up 27 points (0.3%) Down 33% from its all time high.
* S&P 500 down 8 points (0.2%) - Down 24% from record in January.
* Fed chiefs talking mixed messages. Yields push back towards 4% in 10 years.
* Commodities mixed. Oil up 2.4% in Brent. Nord Stream sabotage in Europe.
* Copper down 0.2% Nickel down 2.7%
* BHP and RIO better in ADRs
* September quarter end beckons
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Sep 27, 2022
End of Day Podcast – Tuesday 27th September
ASX 200 rebounded 27 points to 6487 (0.4%) in quiet trade. Resources were the stand outs today after the rout yesterday as *BHP* gained 2.8%, *RIO* up 3.0% and *FMG* better by 5.5%. Lower AUD doing its job with exporters to benefit. Gold miners missed out but lithium and coal stocks rebounding strongly, *PLS* up 6.1% *AKE* up 3.6%, *WHC* rallying 6.8% with other coal stocks in demand. *TER* up 8.5% and *BCB* doing well, up 7.6%. Energy stocks also doing well, *STO* up 1.0% and *WDS* bouncing 1.6%. Elsewhere banks slid as 10-year bonds cruised through 4%. The *Big* *Bank* *Basket* fell to $166.89 (0.2%). *CBA* down 0.2% and *MQG* falling 0.9%. Insurers steady as yields rose. Healthcare reversed yesterday’s gains, *CSL* falling 0.1%, *RHC* down 3.5% and *FPH* down 4.8%. *REITs* down and defensives giving back a little *TLS* down 1.1% and *REA* off 2.5%. Tech stocks modestly lower. The *All*-*Tech* Index unchanged.
In corporate news, *POS* down 8.3% on an update and *CXO* dropped 5.6%…
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Sep 26, 2022
Marcus Today Pre-Market Podcast – Tuesday 27th September
The Dow Jones fell a further 330 points (1.1%) overnight, but despite that, SPI Futures are up 17 points (+0.3%) this morning, as it looks like we might have overdone the sell-off yesterday.
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Sep 26, 2022
End of Day Podcast – Monday 26th September
ASX 200 closed at a three-month low at 6469 down 105 points (1.6%) despite a solid rally off morning lows. Banks and defensive industrials held up better today as resources were hammered. Commodities on the nose in China not helping sentiment. *BHP* fell 5.2% wiping 30 points off the index alone. *RIO* dropped 5.6% and *FMG* down 4.9% with lithium stocks depressed, *PLS* off 9.1% and *MIN* down 7.9%. Base metals under pressure with *S32* falling 7.0% and *LYC* dipping 6.0%. Oil and energy stocks under pressure too on recession fears, *STO* down 7.3% and *WDS* off 5.0% with coal stocks easing. *WHC* down 14.0% and *NHC* off 14.7%. Gold miners remain in the naughty corner with *NCM* falling 5.9% and *NST* down 7.1%. Banks held up a little with the *Big* *Bank* *Basket* at $167.18. *CBA* and NAB unchanged whilst financials drifted a little lower, *MQG* down 1.2% and *QBE* down 1.7%. Healthcare a little better, *CSL* up 2.4%, *SHL* up 0.9% on new directors, *RHC* fell 2.4% on news *KKR* ar…
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Sep 25, 2022
Marcus Today Pre-Market Podcast – Monday 26th September
The Dow Jones fell 486 points (-1.6%) on Friday night as the conversation moved away from central-bank aggression and interest rates and firmly to the risk of recession.
SPI Futures are down 82 points, following a 126-point fall on Friday.
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Sep 21, 2022
End of Day Podcast – Wednesday 21st September
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Sep 20, 2022
Pre-Market Podcast – Wednesday 21st September
The Dow Jones fell 313 points (-1.0%) as caution crept in ahead of the FOMC meeting tonight.
SPI Futures are down 77 points (-1.1%), as we prepare for the US decision tonight and the public holiday tomorrow.
Catch up on the latest news with Marcus Padley’s Pre-Market Podcast.
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Sep 20, 2022
End of Day Podcast – Tuesday 20th September
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Sep 19, 2022
Pre-Market Podcast – Tuesday 20th September
The Dow Jones rallied overnight, closing up 197 points (+0.6%), having been down 263 points.
SPI Futures this morning are up 55 points (+0.8%), with all eyes firmly on the Fed meeting on Wednesday.
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Sep 19, 2022
End of Day Podcast – Monday 19th September
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Sep 18, 2022
Pre-Market Podcast – Monday 19th September
The Dow Jones capped off an ugly week on Friday night with a 139-point (-0.45%) drop. The S&P 500 dropped (a huge) 4.77% last week, with the NASDAQ down 5.48%.
SPI Futures are down only two points this morning.
Catch up on all the latest with Marcus Padley on today’s Pre-Market Podcast.
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Sep 16, 2022
End of Day Podcast – Friday 16th September
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Sep 15, 2022
Pre-Market Podcast – Friday 16th September
Heartbreak for Australians at the Bledisloe Cup last night. If you haven't seen the last minute, you should.
Dow Jones down 173 points (-0.56%) with stronger than expected retail sales numbers, the World Bank and the IMF warning about global growth, a big drop in the oil price and bond yields on the rise.
SPI Futures down 50 points this morning.
Catch up on all the latest with Marcus Padley on today’s Pre-Market Podcast.
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Sep 15, 2022
End of Day Podcast – Thursday 15th September
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Sep 14, 2022
Pre-Market Podcast – Thursday 15th September
There was no clarity overnight, the Dow Jones finished up 30 points in a directionless session that failed to recover from Tuesday's carnage.
SPI Futures are up a lackluster nine points this morning, following a 189-point fall yesterday.
Catch up on all the latest with Marcus Padley on today’s Pre-Market Podcast.
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Sep 14, 2022
End of Day Podcast – Wednesday 14th September
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Sep 13, 2022
Pre-Market Podcast – Wednesday 14th September
An ugly night in the US as the CPI number came in hotter than expected, with a 0.1% rise (a 0.1% fall was expected). US markets responded poorly to the increase in inflation as interest rate woes kick back in. The Dow Jones fell 1276 points (-3.94%), with the S&P 500 down 4.23% and the Nasdaq falling 5.16%.
SPI Futures this morning are down 156 points (-2.23%), wiping off all the gains from the start of the week and some.
Tune in to Marcus Padley’s Pre-Market Podcast to get in the know for the day ahead.
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Sep 13, 2022
End of Day Podcast – Tuesday 13th September
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Sep 12, 2022
Pre-Market Podcast – Tuesday 13th September
A solid session in the US ahead of the CPI number tonight, the Dow Jones finished up 229 points (+0.71%) as the market continues to go risk-on. The Nasdaq and S&P 500 also continued their winning streak, both finishing higher overnight.
SPI Futures are up 46 points (+0.62%) this morning, following the 70-point rise we saw yesterday.
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Sep 12, 2022
End of Day Podcast – Monday 12th September
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Sep 11, 2022
Pre-Market Podcast – Monday 12th September
The Dow Jones finished up 377 points on Friday night (+1.19%). The Nasdaq had another good night, up 2.11%, along with the S&P 500, up 1.53%.
SPI Futures are up 79 points (+1.2%), setting the stage for a good session today following a 46-point rise in our market on Friday.
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Sep 9, 2022
End of Day Podcast – Friday 9th September
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Sep 8, 2022
Pre-Market Podcast – Friday 9th September
The Dow Jones pushed higher on the back of Jerome Powell’s speech last night to finish near its highs, up 193 points (+0.61%). The Nasdaq and the S&P 500 also finished higher, making it the first two positive days in a row since Jackson Hole.
SPI Futures are unchanged this morning, on track to finish the week 0.1% higher.
Catch up on all the latest with Marcus Padley on today’s Pre-Market Podcast.
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Sep 8, 2022
End of Day Podcast – Thursday 8th September
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Sep 7, 2022
Pre-Market Podcast – Thursday 8th September
The Dow Jones rallied overnight, finishing up 436 points (+1.4%) on interest rate relief as bond yields dropped 7bp. The Nasdaq also found some gains, up 2.1%, and snapping a 7-day losing streak.
SPI Futures are up 29 points, struggling to follow US leads as commodity prices came off overnight.
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Sep 7, 2022
End of Day Podcast – Wednesday 7th September
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Sep 6, 2022
Pre-Market Podcast – Wednesday 7th September
US markets spent the session catching up on the European energy crisis, the Dow Jones fell 173 points (-0.55%), with the Nasdaq falling 0.74% and making it seven straight losing sessions – the longest streak in six years. European markets shook the energy crisis paranoia slightly to creep up for the session.
SPI Futures are down 37 points (-0.54%) following a 26-point fall yesterday.
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Sep 6, 2022
End of Day Podcast – Tuesday 6th September
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Sep 5, 2022
Pre-Market Podcast – Tuesday 6th September
US markets were closed overnight for the Labour Day holiday. We take our leads from European markets this morning - the DAX was down 2.2%, and the STOXX 600 down 0.6% overnight amid the energy crisis that saw LNG pricing in Europe up as much as 35%.
SPI Futures holding well, up eight points this morning.
Catch up on all the latest with Marcus Padley on today's Pre-Market Podcast.
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Sep 5, 2022
End of Day Podcast – Monday 5th September
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Sep 4, 2022
Pre-Market Podcast – Monday 5th September
The Dow closed down 338 points on Friday night following the jobs number that came in with no real surprises and helped subdue interest rate fears. However, news that Gazprom halted restarting the gas pipeline due to an oil leak spooked the market into a 600-point fall.
SPI Futures are down 16 points this morning with the US on holiday tonight.
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Sep 2, 2022
End of Day Podcast – Friday 2nd September
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Sep 1, 2022
Pre-Market Podcast – Friday 2nd September
US markets found some footing overnight as the Dow finished up 146 points, snapping a four-day losing streak, although the Nasdaq fell 0.26%. The iron ore price crumbled, falling 8% to trade below $100, as China reimposed COVID restrictions.
SPI Futures are up 20 points (+0.29%) following the 141-point drop we saw yesterday.
Get up to speed with Marcus Padley, in the Pre-Market Podcast.
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Sep 1, 2022
End of Day Podcast – Thursday 1st September
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Aug 31, 2022
Pre-Market Podcast – Thursday 1st September
The 1000-point fall in the Dow on Friday night is starting to look like a bit of a downtrend. The Dow closed down a further 280 points (-0.9%) last night, bringing the total slip to 5.5% since Friday. Headlines on oil prices and recession fears colouring the market.
SPI Futures pointing to a 69-point loss today (-1.0%).
Catch up on all the latest with Marcus Padley on today’s Pre-Market Podcast.
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Aug 31, 2022
End of Day Podcast – Wednesday August 31st
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Aug 30, 2022
Pre-Market Podcast – Wednesday 31st August
Bit of a shabby night in the US, the Dow fell 308 points (-0.96%), with expectations that the Fed’s ‘soft pivot’ is a while off. Oil had its worst day since mid-July, falling 4.8% and putting pressure on the energy sector.
SPI Futures are down 58 points (-0.84%).
Tune in to Marcus Padley’s Breakfast Briefing Podcast to get in the know for the day ahead.
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Aug 30, 2022
End of Day Podcast – Tuesday 30th August
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Aug 29, 2022
Pre-Market Podcast – Tuesday 30th August
The Dow Jones settled overnight – compared to the 1008-point loss we saw on Friday night – to finish down 184-points (-0.57%). Tech stocks are still taking the brunt of the sell-off, the Nasdaq closed down 1.02%.
SPI Futures looking for a bounce off yesterdays 2% fall, up 18 points (+0.26%).
Catch up on all the latest with Marcus Padley on today’s Breakfast Briefing.
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Aug 29, 2022
End of Day Podcast – Monday 29th August
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Aug 28, 2022
Pre-Market Podcast – Monday 29th August
Jackson Hole turned out to be a very big event, with Jerome Powell’s hawkish comments sending US markets into freefall. The Dow dropped 1008 (-3.03%) points on Friday night, the Nasdaq fell 3.94%, and the S&P 500 ended 3.37% lower.
SPI Futures are down 104 (-1.48%), following US leads.
Get up to speed with Marcus Padley, in the Breakfast Briefing podcast.
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Aug 25, 2022
Breakfast Briefing – Friday 26th August
Henry is heading off on holiday today, so I (Marcus Padley) will fill in for him in the Breakfast Briefing podcasts. Wall Street behaved itself overnight ahead of Jackson Hole and Jerome Powell’s speech tonight.
The Dow finished up 323 points (+1%), while the Nasdaq saw some nice gains, up 1.7%. Locally we’re still focusing on results, quiet day today, but picking up again next week as we round out results season.
SPI Futures are up nine points (+0.1%) today, looking like we’ll end the week down around 0.9%.
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Aug 25, 2022
End of Day – Friday 26th August
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Aug 25, 2022
End of Day – Thursday 25th August
* ASX 200 up another 50 points to 7048 (0.7%) as banks and resources rally pre-Jackson Hole. Resources continue to find friends on Chinese stimulus moves. Iron ore stocks wilted from highs with *BHP* up 0.7%, *FMG* up 0.1% and *RIO* lagging slightly although still up 0.2%. Base metals also doing well despite nickel falling overnight, *S32* good results up 1.0% and *IGO* up 1.8%. Lithium stocks took a slight breather, *PLS* down 1.7% as uranium took centre stage on Japanese moves to embrace more nuclear power. *PDN* rose 11.6%, *BOE* up 5.2% and *BMN* up 15.4%. Oil and gas stocks continue to find buyers as *STO* rose 1.3% and *WDS* up 2.0%. *WHC* results today saw early losses as buyers stepped back in and erased the fall closing only down 1.4%. Even gold miners put in a better day, *NCM* up 3.0% and *DEG* up 5.3%. Banks were better as bond yields rose, *CBA* up 0.6% and *WBC* the stars, the *Big Bank Basket* rose 0.7% to $172.57. *IFL* pushed 11.4% ahead as *MLC* integration looks to…
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Aug 24, 2022
Breakfast Briefing – Thursday 25th August
US markets found some positive footing overnight, the Dow finished up 60 points (+0.2%). However, the markets are still showing caution ahead of Jackson Hole tonight. SPI Futures are up 31 points (+0.45%), slowly making up for the losses from earlier in the weak.
Get in the know with Henry’s Breakfast Briefing.
* ASX 200 SPI Futures up 31 (0.5%)
* Dow rose 60 points (0.2%)
* S&P 500 up 12 points (0.3%)
* Nasdaq up 50 points (0.4%)
* Oil up again 1% Gold unchanged.
* Base metals mixed nickel down 1.8%
* Iron ore up 0.2%
* Results to dominate on Super Thursday.
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Aug 24, 2022
End of Day – Wednesday 24th August
* ASX 200 rallied 36 points to 6998 (0.5%) after two days of losses, Banks rebounded with the Big Bank Basket back to $171.40 (0.4%). *ANZ* the standout, up 1.6%. *MQG* rallied slightly but still lots a little underwhelming. Insurers better with *ASX* slipping 1.4%. Healthcare flat as *CSL* fell 0.4%, *RMD* down 1.2% and *SHL* doing well on results up 6.2%. Industrials a little lacklustre, *TLS* ex dividend, *GMG* slid 2.0%, *WOW* and staples eased with *EDV* finding some support after the rout yesterday. *TCL* down 0.4% and *BXB* drifting 1.1% lower. In resources, iron ore strength as *BHP* continue to hold up well, up 1.1%, *FMG* up 0.4% but *RIO* down 0.5%, *S32* up 2.7% and lithium stocks bubbling away. *MIN* up 3.0% and *PLS* forgoing ahead 6.1% despite broker downgrades. Oil and gas stocks doing well with *WDS* up 3.4% and *STO* up another 2.1%. Coal stocks continue to play well, *WHC* up 1.9%. In the tech sector, *WTC* shot the lights out with results up 12.8% dragging the inde…
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Aug 23, 2022
Breakfast Briefing – Wednesday 24th August
The Dow posted further losses overnight, giving up early gains to close down 154 points (-0.5%), while the S&P 500 and Nasdaq finished flat. Caution ahead of Powell’s speech on Friday creeping into market sentiment. SPI Futures are up 15 points (+0.22%), looking to make back some of the losses from the start of the week.
Get across all the latest with Henry’s Breakfast Briefing.
* ASX 200 SPI Futures rise 15 points.
* Dow drops 154 points (0.5%)
* Nasdaq unchanged.
* S&P 500 down 9 (0.2%)
* Base metals mixed. Gold up 0.7%
* Oil rises 3.9% IO up 0.5%
* Results in focus.
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Aug 23, 2022
End of Day – Tuesday 23rd August
* ASX 200 drops another 85 points to 6962 (1.2%) as rates rise and risks grow. Banks bore the brunt of the sell off with the *Big* *Bank* *Basket* down to $170.77. *CBA* down 2.0% and *NAB* sliding 2.0% as yields pushed towards 3.6%. *MQG* fell 3.4%, insurers down too, *QBE* off 1.6% and *SUN* going down 2.2%. Fund managers down too *PDL* off 1.7%. Healthcare in ICU as *CSL* dropped 2.0%, *RMD* down 2.7% and *COH* off 2.5%. Industrials in trouble too with staples under pressure following the *EDV* result, falling 12.3% and *COL* off 3.4% with *BXB* dropping 3.5%, *REH* off 3.4% and REITS sliding led by *GMG, *down 2.3%. Telcos eased, tech fell with *REA* down % and *WTC* and *XRO* continuing lower. The *All*-*Tech* *Index* only modestly lower by 0.9% as *ALU* sprang to life and saved the day up 19.8%. Resources did their best to hold up but eventually succumbed. *BHP* remain steadfast, pregnant with a huge dividend. *RIO* dropped 0.5%, *FMG* off 0.3% and *S32* off 1.4%. Base metals an…
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Aug 22, 2022
Breakfast Briefing – Tuesday 23rd August
An ugly night in the US as the Dow fell 643 points (-1.9%), never trading in positive territory. The Nasdaq was the worst performer, down 2.6%, as chatter about the Fed’s pushback against the dovish-pivot is getting attention. SPI Futures are down 43 points (-0.62%), continuing the rough start to the week.
* ASX 200 SPI Futures down 43 points
* Dow down 643 points (1.9%) 800 point trading range.
* Nasdaq down 2.6%
* S&P 500 down 2.1%
* VIX up 15.5%
* Oil down 0.3% Gold down 0.8%
* Base metals flat. IO up 0.2% on Chinese stimulus.
* Results in focus
* 10 - year yields rising.
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Aug 21, 2022
Breakfast Briefing – Monday 22nd August
US markets finished the week on a soft note last week, the Dow closed down 292 points (-0.86%)., never touching positive territory. Inflation concerns were back in focus following hotter-than-expected business inflation data from Germany. SPI Futures are down 29 points (-0.41%) as another big week of results looms.
Get up to speed with Henry’s Breakfast Briefing.
* ASX 200 SPI Futures down 29 points.
* Dow falls 292 points (0.9%)
* Nasdaq down 260 (2.0%)
* S&P500 down 55 (1.3%)
* Metal prices fall slightly. Gold down 0.5% on stronger USD
* Oil up 0.1% IO down 0.5%
* US 10-year yields close to 3% again
* Jackson Hole in focus.
* Results here will be key.
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Aug 19, 2022
End of day – Friday 19th August
* ASX 200 closes flat after a quiet day at index level but a flurry of results provide plenty of fun beneath the surface. Banks slid slightly with the *Big* *Bank* *Basket* down to $176.15 (1.2%). *CBA* down 1.0%, *ANZ* off 2.0% and other financials unchanged. *MQG* flat, insurers flat too. Healthcare suffering with *CSL* down 1.5% and *FPH* dropping 5.2% on results. *RHC* up 1.6% and *COH* up 2.2% on its results. Industrials firmed to finish the week, *WES* up 0.7%, *TLS* doing well up 0.5% as *TPG* fell hard on disappointing results, down 12.5%. Tech slightly higher although *XRO* falling 2.0% on negative broker moves. The *All*-*Tech* *Index* down 0.3%. *REITS* struggled led lower by *GMG* down 2.6%. Resources were better finishing the week in style as IO stocks rallied, BHP up 1.0%, *FMG* up 0.4% and *RIO* up 1.5%. Base metals stocks also doing well with *S32* up 1.7% as coal stocks fired up yet again, *WHC* 6.2% *TER* up 7.8% and *NHC* rising 4.0%. Lithium stocks still a little b…
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Aug 18, 2022
Breakfast Briefing - Friday 19th August
* ASX 200 SPI Futures up 23 points.
* Dow up 19 (0.1%) in quiet directionless trade.
* Nasdaq up 27 points (0.2%)
* S&P 500 up 10 (0.2%)
* Base metals ease slightly. Gold off 0.3%
* Oil up 3.1% IO up 0.1%
* Results in focus. COH. FPH. TPG.
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Aug 18, 2022
End of Day - Thursday 18th August
* ASX 200 fell 15 points to 7113 (0.2%) in a day dominated by Super Thursday results. Resources are stumbling lower as gold miners slid, *NCM* off 2.9% and *NST* down 4.1%. Base metals and lithium shares under a little pressure, *MIN* off 1.0%, *PLS* down 1.9% and *LYC* falling 3.1%. Oil stocks firmed on higher crude prices, coal stocks again in demand, *WHC* up 2.2% and *NHC* better by 3.7%. Industrials slipped slightly, *TCL* disappointed with results falling 3.4%, *WES* eased 0.8%, *REITs* down led by *SCG *down 1.0%. Healthcare mixed as *CSL* rallied 2.3% with the rest of the sector suffering from the sniffles. Tech down and out for now, *WTC* down 1.9%, *XRO* off 7.1% and *SQ2* falling 6.0%. The *All*–*Tech* *Index* fell 2.2%. Banks were mixed as *CBA* rallied 1.4% and *NAB* up 0.3% with *ANZ* and *WBC* easing lower. The *Big* *Bank* *Basket* pretty unchanged at 178.33 Insurers eased and *MQG* slid 0.9% with *ASX* off 4.0%. *MFG* continues lower by 0.9% with *PNI* down 2.6%.…
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Aug 17, 2022
Breakfast Briefing - Thursday 18th August
Stocks slipped following the Fed minutes as the tech selloff resumed. The Dow finished down 172 points (-0.5%), while the Nasdaq was the worst performer down 1.3%. SPI Futures are pointing to a 13-point (-0.2%) loss.
Catch up with Henry’s Breakfast Briefing.
* ASX 200 SPI Futures down 13 - Results in focus
* Dow falls 172 post FOMC minutes.
* Nasdaq down 164 points (1.3%)
* S&P 500 down 31 points (0.7%)
* Base metals slip slightly. Iron ore down 1.9% Oil up 1.4%
* Gold falls 0.7% - Jobs number at 11.30am.
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Aug 16, 2022
Breakfast Briefing – Wednesday 17th August
A reasonably quiet night in the US, the Dow finished up 240 points (+0.7%), as the path of least resistance recently has been to the upside. SPI Futures are up 11 points (+0.2% ) with results continuing to roll on through.
* ASX 200 SPI Futures up 12 points
* US markets mixed in volatile session.
* Dow closes up 240 points (0.7%)
* S&P 500 up 8 points (0.2%)
* Nasdaq down 26 (0.2%)
* Base metals flat. Gold down 0.5%
* Oil falls 3% IO down 0.2%
* Results in focus again. BAP, CTD, FBU
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Aug 16, 2022
End of Day - Tuesday 16th August
* s ASX 200 rallied another 41 points to 7105 (0.6%) as BHP release a cracker result and a record dividend of US1.75c. *BHP* accounted for 24 index points with a gain of 4.1% on the results. *FMG* joined in up 1.6% but *RIO* stuck in the slow lane. Base metals slipped and lithium came off the boil, *MIN* down 0.4%, *BSL* down 2.6% and *CXO* down 7.7% with *PLS* down 1.9%. Oil and gas stocks slipped on crude falls. *WDS* fell 1.8%, *STO* down 0.3% and *BPT* falling another 3.3% with Macquarie downgrading. Gold miners under pressure despite AUD bullion rising on a falling AUD. *NCM* down 0.7% and *NST* off 1.0%. Banks and defensives were in demand as yields fell to 3.22%. The *Big* *Bank* *Basket* rose to 178.64% (0.5%) with *CBA* the stand-out, up 1%. *MQG* rose 1.0% and insurers were mixed after *CGF* dropped 10.1% on disappointing results. Healthcare stocks rallied led by *CSL* up 1.1% and *RMD* up 1.5% with *RHC* rallying 2.0%. Staples were better, *WES* up 0.3%, *EDV* up 2.3% and *W…
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Aug 15, 2022
Breakfast Briefing - Tuesday 16th August
The Dow finished near highs, up 151 points (+0.5%) despite weak economic data out of China and the possibility of Iranian oil flooding the market hurting the oil price. SPI Futures are up 22 points (+0.32%), indicating another day of gains ahead.
Catch up on the latest news with Henry’s Breakfast Briefing.
* ASX 200 SPI Futures up 22 points.
* Dow up 151 points (0.5%)
* Nasdaq up 81 (0.6%)
* S&P500 up 17 (0.4%)
* Base metals fall on Chinese data. Copper down 1.2% Nickel down 4.8%.
* Oil falls 3.1% Iron ore down 2.8%
* BHP results in focus US1.75c Dividend. A new record. US$21.3bn underlying profit.
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Aug 14, 2022
Breakfast Briefing - Monday 15th August
A good night in the US on Friday night, with the DOW finishing up 424 points (+1.3%), has set up our local market for a positive start to the week. SPI Futures are up 39 points (+0.6%), as a big week of results lies ahead.
Get up to speed with Henry’s Breakfast briefing.
* ASX 200 SPI Futures 39 points
* Dow up 424 points (1.3%)
* S&P500 up 73 points (1.7%)
* Nasdaq up 267 points (2.1%)
* Base metals ease slightly. Gold up 0.5%
* Iron ore down 1%.
* Results in focus. BHP and FOMC Minutes this week.
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Aug 12, 2022
End of Day - Friday 12th August
* ASX 200 fell 38 points to 7033 (0.5%) as market gave up most of the gains this week. Late rally helped somewhat. Resources slid as the AUD strengthened above 71c and 10-year yields soared to 3.40%. *BHP* fell 0.8%, *BSL *off 1.6% and *FMG* fell 0.7%. Base metals eased and lithium mixed after a good week. *PLS* up 0.3% and *AKE* down 0.4%. *LTR* fell 5.6% with *SYA* under pressure, down 3.5%. Oil and gas stocks moved higher on oil prices, *WDS* up 3.7% and *STO* doing well up 0.8%, coal was a merry old soul as *SMR* delivered with results and rose 10.9%. Gold miners eased back on the stronger dollar hitting bullion prices. Banks were mixed with *CBA* suffering downgrades and down 0.5%, *NAB* up 0.8% and the *Big* *Bank* *Basket* relatively unchanged. *MQG* dropped 0.5%, insurers fell too with *QBE* down 2.4% and *SUN* falling 3.9%. Healthcare dived, *CSL* off 0.8%, *RMD* down 3.1% and *SHL *off 3.3%.
* Industrials were weaker with *REITs* under pressure, *GMG* fell 2.8%. *WES* dow…
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Aug 11, 2022
Breakfast Briefing – Friday 12th August
A bit of a nothing day of trade in the US, the Dow finished up 27 points (+0.1%), after being up as much as 342 at one point. Oil prices are climbing back up towards US$100 a barrel as the IEA lifted its demand forecasts. SPI Futures are down 20 points (-0.3%).
Get up to speed with Henry’s Breakfast Briefing.
* ASX 200 SPI Futures down 20 points
* Dow gains 27 points (0.1%) well off highs.
* S&P 500 down 3 (0.1%)
* Nasdaq falls 75 points (0.6%) as bond yields rise.
* US PPI falls. Gold down 0.6%
* Oil up 2.3% on IEA report.
* Base metals better. Iron ore up 1.6%
* Results dropping. IAG, BBN.
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Aug 11, 2022
End of Day – Thursday 11th August
* ASX 200 rallies 78 points to 7057 (1.1%) on positive US leads and CPI number. Risk on, as the shorts are being punished across the board still. Resources leading the charge higher, *BHP* up 2.2% with *FMG* up 1.3% and *RIO* down 3.9% but ex div. Base metals and lithium back in demand. *PLS* up 4.4%, *S32* up 4.1% and *OZL* rising 1.0%. Gold miners missing out a little as the stronger AUD hinders. *NCM* down 0.7% though *NST* up 1.8%. *Oil* and gas mixed with *WDS* off 0.6% and *STO* up 2.3% with coal stocks slightly firmer, *WHC* up 1.4% and *NHC* up 1.7%. Banks did well with the *Big* *Bank* *Basket* up to $177.76 (0.5%). *CBA* the only faller as brokers were ‘ho hum’ on numbers yesterday. *NAB* recovering 1.0% with insurers better after the QBE results pleased the market. The sector better as *QBE* rose 3.3% and *SUN* up 1.2%. *AMP* reported but failed to inspire, down 0.9%. *MFG* had a solid day, up 3.5% and *GQG* rose 4.9% on FUM and results. Healthcare better on sentiment s…
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Aug 10, 2022
Breakfast Briefing – Thursday 11th August
US CPI came in slower than expected at 8.5% YoY, with markets rallying on the release. The Dow closed up 535 points (+1.6%) and the Nasdaq gained 2.9%. SPI Futures are up 70 points (+1%) following the rally in the US. Get up to speed on all you need to know with Henry’s Breakfast Briefing.
* ASX 200 SPI Futures up 70 points (1.0%)
* Dow surges 535 points (1.6%) on CPI beat. of 8.5%
* Nasdaq up 361 points (2.9%)
* S&P 500 up 88 (2.1%)
* Base metals better. Nickel up 3.9% Gold slightly higher.
* Oil up 1.1% Iron ore unchanged.
* TLS and QBE drop early Results remain in focus.
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Aug 10, 2022
End of Day – Wednesday 10th August
* ASX 200 slips 37 points to 6993 (0.5%) ahead of the crucial US CPI tonight. Banks held firm with the *Big* *Bank* *Basket* up to $176.88 (0.7%) as *CBA* delivered and slid slightly lower by 0.3%. NAB rebounded 1.4% on broker comments and *ANZ* better by 3.4%. *MQG* backtracked 1.1% with insurers flat. Other financials relatively unchanged. Healthcare slid as *CSL* fell 1.6%, *SHL* off 2.9% and *COH* down 2.9%. *REITS* slipped *GMG* down 2.6% and Industrials slightly weaker, *WES* down 1.1%, *REA* off 3.8% and *ALL* down 1.2%. Tech fell back as Nasdaq woes and *CPU* results weighed on the sector. *XRO* fell 3.8% with *WTC* off 1.4% with heavyweight *CPU* falling 4.8%. The *All*-*Tech* *Index* fell 2.8%. In the mining sector, a wishy washy start saw buyers return but with no real conviction and slid into the afternoon. *BHP* down 1.3%, lithium stocks rolling off the top as *PLS* dropped 0.7% with *MIN* down 2.0% with *LTR* up 1.5%. Gold miners dribbled back, and oil and gas stocks eas…
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Aug 9, 2022
Breakfast Briefing - Wednesday 10th August
Another day of narrow trade in the US ahead of the CPI number tonight. The Dow finished down 58 points (-0.18%), while the Nasdaq was the worst performer again falling 1.2%. SPI Futures a down 39 points (-0.56%). Catch up on the latest news with Henry’s Breakfast Briefing.
* ASX 200 SPI Futures down 39 points (0.6%)
* Dow fdalls 58 points (0.2%)
* Nasdaq down 151 (1.2%)
* S&P500 down 18 (0.4%)
* Base metals better slightly. Gold up 0.4%
* Iron ore down 1.5% Oil down 0.4%
* CBA numbers drop. In line and dividend looks ok.
* Chinese data at 11.30am. US CPI tonight.
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Aug 9, 2022
End of Day – Tuesday 9th August
* ASX 200 slightly better in a closing rally with the index up 9 points to 7030 (0.1%). Results focus. Another small range day today with Banks weighing following NAB results down 2.9% with the *Big* *Bank* *Basket* down to $ 175.59(1.5%). *CBA* results tomorrow with *SUN* bouncing 2.5% post its numbers and broker updates. Insurers doing well, *QBE* rising 1.4% and *IAG* up 1.8%. *MQG* in demand following Veolia deal, up 0.9%. *ASX* rose 0.5% and *MFG* rallying 2.8%. Healthcare better with *CSL* up 0.5% and *RHC* better by 0.4%. Industrials also in demand, *WES* up 1.8%, *ALL* up 1.4% and *TLS* up 0.8% with ‘old skool’ platform stocks doing well today. *REA* up 6.7% on results, *SEK* up 3.2% and tech better with the *All* *Tech* *Index* up 2.1%. *XRO* up 3.7% and *WTC* doing well up 2.5%. Resources coming off the boil slightly with *OZL* up 0.3% but *BHP* down 0.8%. Lithium stocks in demand and a huge short squeeze in some. *LKE* up 15.4% and *LTR* up 5.3%. Off highs but still str…
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Aug 8, 2022
Breakfast Briefing - Tuesday 9th August
A narrow day of trade for the Dow, finishing up 29 points (+0.2%), off highs of 306 points. Trade remains cautious ahead of the CPI print on Wednesday night. SPI Futures are down eight points (-0.1%).
Get up to speed with Henry’s Breakfast Briefing.
* ASX 200 SPI down 8 points
* Dow up 29 points (0.1%) Results focus.
* S&P 500 down 5 points (0.1%)
* Nasdaq down 13 (0.1%)
* Base metals mixed. Copper up 1.3% Nickel down 2.5%
* Gold up 0.8% Oil up 1.8%
* Iron ore up 1.7%
* Results in focus. NWS, REA, CPU and NAB.
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Aug 7, 2022
Breakfast Briefing - Monday 8th August
* ASX 200 SPI Futures down 7 points.
* Dow closes up 77 points (0.2%)
* S&P500 down 7 (0.2%)
* Nasdaq down 63 points (0.5%)
* Iron ore up 1.8% Gold down 0.9%
* USD stronger. Yields rise on 528k jobs number.
* Chinese data over weekend positive.
* Base metals better. Oil up 0.9%
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Aug 5, 2022
End of Day – Friday 5th August
* ASX 200 finished the week in style hitting a high or 7016 up 41 points (0.6%). Global markets hitting two-month highs. Resources were back in fashion, *BHP* leading the charge, up 1.7% and *RIO* up 2.6% with *FMG* rallying 2.7%. Base metals in demand too, *OZL* up 3.1%, *IGO* up 4.1% and *S32* rallying 2.4%. Gold miners shining, *NCM* up 0.7%, *DEG* up 3.2% and *EVN* up 3.4%. Lithium stocks too continued the rally, *LTR* up 6.7% and *CXO* up 6.2% on a new CEO. Oil and gas though fell sharply, *KAR* down 5.85% *WDS* off 1.3% and *STO* falling 0.7%. Old king coal not such a merry old soul either *WHC* down 3.5% and *NHC* off 5.4%. Industrials and healthcare going nicely nicely. *CSL* up 0.7% with *RHC* finding friends finally up 3.7%, *COH* also up 1.8%. *WES* rallied 1.5%, *TLS* very solid again up 1.0% and *COL*, *EDV* and *WOW* doing well. Tech better, *WTC* up 1.2% on an upgrade, *XRO* eased 2.6% and *CPU* off1.5 %. The *All*-*Tech* Index off 1.1%. The banks were solid, CBA slipped…
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Aug 4, 2022
Breakfast Briefing – Friday 5th August
Energy stocks weighed on the market overnight with oil falling Brent falling 2.75%, and WTI falling below US$90, the Dow finished down 85 points (-0.26%). Technology stocks continued their rise, the Nasdaq gained 0.41%. SPI Futures are up six points, indicating a slow day of trade ahead.
Get on top of all the news for today with Henry’s Breakfast Briefing.
* ASX 200 SPI Futures up 6 points
* Dow fell 86 pointsn(0.3%) in tight range trading ahead of jobs numbers.
* Nasdaq up 52 points (0.4%)
* S&P 500 down 3 points. VIX falls again to 21.
* Gold soars $30.50 to US$1806.90
* Iron ore down 3.5% Oil down 2.8%
* Quiet day ahead.
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Aug 4, 2022
End of Day – Thursday 4th August
ASX 200 closed down 1 point at 6975 well off intra day highs as enthusiasm wanes and iron ore stocks sagged. *BHP* down 1.1%, *FMG* down 2.0% and *RIO* off 1.6%. Base metals were slightly weaker but hardly registering on the same level, lithium stocks a little mixed, *PLS* down 1.1% *LTR* up 3.7% and *AKE* up 1.4%. Gold miners eased back slightly with *NCM* off 1.0%, *DEG* down 2.6% and *NST* falling 0.1%. Oil and gas down hard as crude sank, *STO* down 1.3% and *WDS* off 3.1%. Banks were a beacon of green light today with the *Big* *Bank* *Basket* up to $177.33 (0.9%). *CBA* the biggest and the brightest with a 1.3% gain. Other financials caught in a trap, can’t get out, *MQG* eased 0.3%. Insurers mixed. Healthcare slightly lower as *CSL* slipped 0.7%, *FPH* fell 2.5% and industrials flat. *COL* down 0.6%, *EDV* off 2.5% and *WOW* falling 1.1%. Telcos rose as *TLS* rallied 1.3% and tech stocks better with *XRO* up 0.7% and *WTC* up 0.9%, the *All*-*Tech* *Index* up 2.2%.
In corporat…
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Aug 3, 2022
Breakfast Briefing – Thursday 4th August
US stocks reversed losses from earlier in the week overnight, the Dow added 416 points (+1.3%), while the Nasdaq continued its charge, finishing up 2.6%. SPI Futures are indicating a 32-point (+0.47%) gain.
* ASX 200 SPI Futures up 32 points
* Dow soars 416 points (1.3%) on better corporate results.
* Nasdaq up 319 points (2.6%)
* S&P500 up 64 points (1.6%)
* Oil drops 3.7% ahead of OPEC Plus
* Iron ore down 3.8% Base metals ease.
* Gold off 0.7% as Pelosi flies out ofTaiwan
* VIX index in US down to 22.
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Aug 3, 2022
End of Day – Wednesday 3rd August
ASX 200 closed down 22 points at 6976 (0.3%) off the lows as Pelosi visit fears calm slightly. Banks slipped lower with the *Big* *Bank* *Basket* down to $175.71 (1%). *MQG* down 1.4% and *ASX* slipping 3.4% on yet more delays to CHESS replacement. Insurers slightly higher, *QBE* up 1.1%. Healthcare fell away with *CSL* leading the sector flat after early losses, *SHL* off 1.5% and *COH* off 0.6%. Industrials eased back with *WOW* and *COL* easier by 1.3%, *WES* down 1.1% and *ALL* off 1.6%. *REITs* steady and *Tech* better. *WTC* up 3.3% and *XRO* pushing ahead by 3.6%. The *All*-*Tech *Index up 1.8%. In resources, miners staged a comeback with *BHP* up 0.1%, *FMG* doing better up 0.7% and base metal stocks in favour. *S32* up 0.8% and* LYC* rallying 7.6% on Mt Weld expansion plans. Lithium stocks better led by *PLS* and *CXO* up 2.2% and 4.0% respectively. Gold miners eased off slightly with oil and gas stocks under pressure, *WDS* down 0.3% and *STO* off 2.1%. In corporate news, *OR…
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Aug 2, 2022
Breakfast Briefing – Wednesday 3rd August
US markets fell again overnight, the Dow fell 402 points (-1.2%), following US-China political tensions and hawkish comments from the Fed’s Daly. SPI Futures indicating a soft day of trade ahead, down 11 points (-0.2%).
* ASX 200 SPI Futures down 11 points.
* Dow falls 402 points (1.2%) Caterpillar weighs.
* S&P 500 down 27 points (0.7%)
* Nasdaq down 20 points (0.2%) Paypal soars after hours. Airbnb slumps after hours.
* Base metals ease slightly.
* Oil up 0.5%. Gold slightly higher.
* Iron ore up down slightly.
* US Bond yields rise as pivot comes into question.Why not sign up for a free trial? Get access to expert insights and research and become a better investor.
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Jul 28, 2022
Breakfast Briefing - Fri 29 Jul
* ASX 200 SPI Futures up 70 points.
* Dow runs another 332 points (1.0%)
* Nasdaq up 130 points (1.1%)
* S&P 500 up 49 (1.2%)
* Apple and Amazon please after hours. Nasdaq futures up 140 after trade.
* Base metals better. Gold runs 1.8%
* Oil up 0.5%. Iron ore better.
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Jul 28, 2022
End of Day – Thu 28 Jul
* ASX 200 rose 67 points to 6890 (1%) as buyers flooded back post Fed. Almost like a short squeeze of epic proportions in second line tech. Banks boosted despite falling yields, the *Big* *Bank* *Basket* up to $174.35 (0.7%) with *ANZR* down 1.8%. *CBA* the super star up 1%. *MQG* delivered again up 3.0% for its 53rd yearly consecutive profit. Insurers mixed, *QBE* up 1.1%, *SUN* down 0.8% and *MFG* up 2.4%. Healthcare going nowhere today, *CSL* down 0.2% and *RMD* flat. *REITS* slightly higher, *GMG* up 1.8%. Industrials better but somewhat anaemic, telcos better on NBN news, tech was the word. The *All*-*Tech* *Index* up 2.3% but hampered by *CPU* down 3.5%. Second liners took comfort from quarterlies, *KGN* up 50.2%, *PBH* up 20.6%, *NMT* up 13.0%, *AD8* up 9.6% on a business update, *MP1* soaring another 9.3% and *SZL* up 44.7%. *BNPL* is back. At least for now. Massive short squeeze.
* In resources, *RIO* was slightly lagging up 0.7% but *BHP* up 2.1% and *FMG* firing 2.9% on p…
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Jul 27, 2022
Breakfast Briefing – Thu 28 July
* ASX 200 SPI Futures up 52
* Dow runs 436 points higher (1.4%) as Fed raises rates 75bps.
* Nasdaq up 470 points (4.1%)
* S&P 500 up 103 points (2.6%)
* Base metals firm. Gold and iron ore steady.
* Oil up 2.1%
* RIO in focus post results. Div a little light on.
* MQG update out.
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Jul 27, 2022
End of Day – Wed 27 July
* ASX 200 pushes another 16 points ahead to 6823 as CPI comes in below expectations. Core inflation at highest since 1991 at 4.9%. Good news. Banks led the market higher as the *Big* *Bank* *Basket* rallied to $173.17 (1.7%) with *ANZ* up 0.4% and ANZR up 2.9%. Insurers slightly higher with *IAG* better by 1.1%, *MQG* dropped 1.1% though. Healthcare better with *CSL* up 1.8% and *RMD* up 0.7%. Industrials mixed as *WES* rose 0.9%, *WOW* up 0.7% and *TCL* rose 1.9%. *REITS* slightly better, 10-year yields dropping to 3.28%. Techs were flying, risk appetite is back. The *All*-*Tech* *Index* was flat, but second line June casualties are roaring ahead. *BNPL* *SZL* was up 95.82% before a trading pause, *ZIP* up another 21.0%, *FLN* up 8.6% *CTT* up 11.5% and *ALC* up 14.8%.
* Quarterly reports better than expected. In resources it was red day with smatterings of green. Iron ore stocks eased, *BHP* down 2.0% *RIO* off 2.0% with *LYC* off 0.7%. Lithium stocks were mixed, *LTR* down 0.8% bu…
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Jul 26, 2022
Breakfast Briefing – Wed 27 July
* ASX 200 SPI Futures down 36 points
* Dow down 229 points (0.7%)
* S&P 500 down 46 points 1.2%
* Nasdaq down 220 points 1.9%
* Base metals up slightly.
* Iron ore up 1.3% Oil down 1.8%
* Gold unchanged.
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Jul 26, 2022
End of Day – Tue 26 July
ASX 200 pushed 17 points ahead to 6807 (0.3%) despite US futures weakness on Walmart news. Fed watching continues. US results in focus tonight. Resources carried the day with iron ore producers doing well, *BHP* up 2.5%, *RIO* up 1.9% and *FMG* rallying 2.5%. Base metals were also better as *OZL* ran 1.1% and lithium stocks firmed. Oil and gas doing ok as crude prices rose and Russia cut back gas supplies in Europe. *STO* up 2.6% and *WDS* up 2.8%. Coal stock finding friends again with *WHC* up 6.4%. Some tech in demand as *ZIP* led the charge up 19.9%, with *WTC* up 0.8% and *XRO* falling 1.3%. The *All*-*Tech* *Index* flat. Industrials were sloppy, *CSL* down 1.5% and *ALL* to find any cherries down 1.8% with *TCL* coming under fire down 1.1% and *WOW* off 1.3%. Banks were mixed but *ANZ* still a firm fave with the Rights up 0.8%. The *Big* *Bank* *Basket* steady at $170.16. In corporate news, *MYR* delighted shareholders with some good numbers up 21.3%, quarterlies in *SYA* and *PDN…
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Jul 22, 2022
End of Day – Fri 22 July
* ASX 200 finished slightly weaker down 3 at 6792 (0%) as the index drifted around ahead of weekend. Dow futures weighing slightly on Snap drop. Banks were firm dominated by trade in *ANZ* rights up 25.4%. The *Big* *Bank* *Basket* rose to $171.34(0.8%). *MQG* slipped slightly as brokers warning of a weaker result to come, *QBE* slumped 2.1% as *IAG* underwhelmed with numbers falling 1.4%. *MFG* continued to find friends up 2.3%. Healthcare mixed, *CSL* down 0.6% and *COH* up 3.2%. Industrials wafted around, *TLS* fell 1.3%, *REA* down 3.9%, *DMP* down 4.5% with *REITs* unchanged. Tech patchy with some good gains in *DUB*, *PNV* and *MP*1. The *All*-*Tech* Index unchanged. Miners were flat with some strength in some gold miners, *NST* up 2.0% and *BHP* still under pressure on iron ore pricing down 0.11%. Lithium stocks mixed, Julie Bishop’s *MIN* fell 1.5%. Oil and gas stocks fell, *WDS* down 0.6% and *STO* off 3.0% with coal stocks mixed after a big week.
* In corporate news, *AX1…
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Jul 21, 2022
Breakfast Briefing – Fri 22 July
Another good night in the US as the Dow finished up 162 points (+0.51%) rallying off lows and closing near highs, rounding out the best three-session rally since May. SPI Futures indicating a slow day ahead, up 12 points (+0.18%) this morning. Get up to speed on the latest with Henry’s Breakfast Briefing.
* ASX SPI 200 Futures up 12 points
* Dow up 162 v (0.5%0
* Nasdaq up 162 v (1.4%)
* S&P 500 up 39 points (1.0%)
* ECB raises rates to zero. Creates Transmission Protection Instrument.
* Base metals mixed.
* Oil pulls back as Nord Stream comes back on line.
* Gold up $13.20 (0.8%)
* Iron ore down 0.7%
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Jul 21, 2022
End of Day – Thu 21 July
* ASX 200 surged 35-points to 6794 (0.5%) in late trade. Banks were the strength and industrials, as the *Big* *Bank* *Basket* rose to $170.05 (1.1%) after* ANZ *joined the fray, up 2.2%. Seems $3.5bn was an easy raise for a good acquisition. *CBA* up 1.7%, elsewhere financials flat, *MQG* up 0.4% and *SUN* dropping 2.1%. *MFG* kicked again rising 2.8%. Healthcare out of *ICU* with *CSL* rising 1.4%, *RMD* up 2.5% and *SHL* doing well as CV19 cases mount. Industrials better, *TLS* up 1.5%, *WES* up 1.7% and ‘old skool’ stocks *REA *up 5.0% and *SEK* up 2.0%. Staples better *COL* up 1.3% and *WOW* up 1.0% with tech stocks powering ahead again, *WTC* up 3.6%, *XRO* up 3.3% and the *All*-*Tech* *Index* better by 3.4%. REITs eased back led by GMG down 0.1%. In resources, iron ore stocks on the nose, *BHP* down 0.9%, *FMG* off 1.1% and oil and gas flopped with both *WDS* down 4.4% and *STO* under pressure on production reports, down 1.4%. Lithium stocks found a friend in Musk who said…
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Jul 20, 2022
Breakfast Briefing– Thu 21 Jul
Upbeat US corporate earnings provided a boost for stocks overnight, the Dow finished up 48 points (+0.15%) while the Nasdaq outperformed finishing up 1.58%. SPI Futures are down 33 points this morning (-0.49%).
Get up to speed with Henry’s Breakfast Briefing.
* ASX 200 SPI Futures down 33 points
* Dow up 48 points(0.25%)
* Nasdaq up 185 points (1.6%)
* S&P 500 up 23 v (0.6%)
* Tesla up 0.7% after results.
* Base metals slightly higher. Nickel up 2.4%
* Gold hits 11-month low at US$1700 down 0.6%
* Oil down 0.4%
* ANZ completes institutional entitlement
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Jul 20, 2022
End of Day – Wed 20 Jul
* ASX 200 sprinted 110 points higher to 6759 (1.7%) on US rally and company updates. All cylinders firing as banks, resources and industrials were bought up. Another bear rally or the real thing? The *Big* *Bank* *Basket* rose to $168.20 (1.0) with *ANZ* still in a halt. Fund managers also in demand, *MQG* up 3.9%, *HUB* rose 0.5% and Insurers also in demand, *QBE* up 1.0% with *SUN* rallying 1.1%. Even *MFG* had its day in the sun, up 7.0%. Healthcare bounced back with *CSL* up 0.2% and *SHL *up 2.1% as *RMD* rallied 2.6%. *REITs* flying with *GMG* up 3.1% and *SCG* up 2.5% with industrials in demand. Staples a little left behind, *JBH* up raced 4.6% higher post broker comments, *REH* doing well up 6.3%, *TLS* up 0.5% and ‘old skool’ *REA* up 2.8% with CAR up 2.6%. Tech stocks bouncing hard, *WTC* up 5.6%, *XRO* up 5.9% and *ZIP* doing well up 12.71%. The *All*-*Tech* *Index* up 3.8%. In resources it was all systems go, *BHP* up 1.4%, *FMG* up 5.2% and even gold miners doing ok,…
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Jul 19, 2022
Breakfast Briefing – Wed 20 Jul
US markets had a strong rally overnight with the S&P 500 (+1.92%) posting its best day in three weeks. The Dow finished just off highs, up 754 points (+2.43%). SPI Futures are indicating a strong day of trade ahead for Aussie markets, up 79 points (+1.21%).
Get all you need to know for today with Henry’s Breakfast Briefing.
* ASX 200 SPI Futures up 79 Points (1.2%)
* Dow up 754 points (2.4%)
* Nasdaaq up 353 points (3.5%)
* S&P 500 up 106 points (2.8%)
* Oil up 1%. Iron ore down 2%
* Gold unchanged.
* Base metals flat.Miners head higher.
* US banks rally hard. Results not as bad as expected.
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Jul 19, 2022
End of Day – Tue 19 Jul
* *ASX 200 fell 38 points to 6650 *(-0.6%). Asian markets all weaker and *RBA* minutes kicked in at 11.30am to help us down a little. Volumes remain modest. Resources turned turtle with iron ore miners mixed on *BHP* production report, down 1.0%. *FMG* up 0.7% whilst base metals stocks slipped quietly away, *IGO* down 1.4%, *S32* off 2.3% and *LYC* down 1.6%. Lithium stocks a little depressed, *AKE* off 3.3% and *PLS* down 3.3%. Gold miners going nowhere but energy stocks full of beans, *WDS *up 3.6%, *STO* up 1.1% and *WHC* up 5.3%, Banks were firm on higher bond yields around 3.49% post-RBA, the Big Bank Basket up to $166.66 (0.2%). *ANZ* still suspended but *CBA* better by 0.8%. *MQG* slid 3.3% and insurers under pressure again despite higher bond yields. Healthcare in ICU today, *CSL* falling 2.0%, *RMD* down 4.6% and *SHL *sliding 3.7%. Industrials weak, *WOW* and *COL* off with *GMG* leading *REITs* lower with the *GMG* at 2.6%. Tech eased as *XRO* cratered 6.0%, *WTC* saw profit…
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Jul 18, 2022
Breakfast Briefing – Tue 19 Jul
US stocks slipped overnight, the Dow posted its biggest loss in more than two weeks, giving up early gains to finish down 193 points (-0.32%). SPI Futures are pointing to a 21-point loss today after a good start to the week yesterday.
Catch up on the latest with Henry’s Breakfast Briefing.
* ASX 200 SPI Futures down 21
* Dow falls 216 (0.7%) as Apples freezes hiring
* Nasdaq down 92 points (0.8%)
* S&P 500 down 32 points (0.8%)
* Oil up 5%. Base metals rally hard.
* Nickel up 6.2% Lead up 9%
* Iron ore up 2.1% Gold up 0.4%
* BHP Production report
* JBH sales update
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Jul 18, 2022
End of Day – Mon 18 Jul
* ASX 200 kicks 82 points to 6666 (1.2%) as bank rally after Citi results and iron ore steadies in Asia, giving *BHP* a 2.4% lift. Late kick helps too, with 25 points on match out. The Miners were better across the board with *RIO* up 2.1% and *FMG* up 3.4%. Base metals doing well, *S32* up 2.1% and *IGO* up 4.4% and lithium stocks doing well, *LTR* up 8.4%, *INR* better by 5.8% and *PLS* rallying 2.5%. Oil and gas better again as crude rises after Biden fails to get much from *MBS*. *STO* up 2.4% and *WDS* up another 2.2%. Coal stocks again pushed up as thermal coal doing well, *WHC* released a business update, very positive up 5.2% and *NHC* up 2.9%. Banks were in demand despite *ANZ* tapping shareholders for $3.5bn to buy *SUN’s* banking business kicking them up a notch. *ANZ* is paying $5bn for the unit, the *Big Bank Basket* rallied to $166.24 (1.8%) with only three legs firing. *CBA* up 1.0% and *NAB* up 1.9%. *MQG* doing well as US banks rally, up 3.2%. *SUN* up 6.1% on the *…
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Jul 17, 2022
Breakfast Briefing – Mon 18 Jul
US stocks rallied on Friday night, with better-than-expected retail sales and a jump in bank stocks acting as a catalyst for markets. The Dow gained 658 points, closing on highs. SPI Futures are pointing to a 57-point gain.
Get up to speed with Henry's Breakfast Briefing.
* ASX 200 SPI Futures up 57
* Dow up 658 points (2.2%) Citi drives bulls.
* S&P 500 up 73 (1.9%)
* Nasdaq up 201 points (1.8%)
* Base metals slightly better.
* Iron ore falls 1.8% Gold down 0.1%
* Oil up 2.1%
* ANZ to buy SUN's banking business for $5bn. Raising $3.5bn in entitlement issue.
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Jul 15, 2022
End of Day – Fri 15 Jul
* *ASX 200 falls 45 points to 6606 *(-0.7%) after a solid rally off lows. Resources took the big hit. Banks had a decent rally off early lows. Resources saw commodities flop and took the sector with it. *BHP* down 3.5%, *FMG* off 6.2% and *RIO* down 2.9%. Gold miners also fell, *NCM* down 2.8%, *NST* off 2.5%. Base metal stocks hit, *IGO* down 7.1%, *POS* off 2.4% and *S32* falling 3.7%. Lithium stocks down but escaping somewhat, *AKE* down 1.4%, *PLS* off 2.9% and *LYC* off 0.7% in the *REE* space. Oil and gas stocks were flat as oil briefly fell below US$95 for Brent. Coal stocks eased back slightly, *WHC* down 2.3%, *NHC* off 1.7% and *SMR* dropping 1.6%. In the banks, the Big Bank Basket fell to $163.26 (-0.01%). *CBA* up 0.1% with *ANZ* under pressure over its *MYOB* business buy, down 1.3%. *MQG* fell 1.8% in sympathy with US banks. Insurers eased, *QBE* down 0.6%. Healthcare better led by *CSL* up 1.0%, *RMD* up 1.9%, *COH* up 1.7%. Industrials flat, *WOW* and *COL* higher but *…
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Jul 14, 2022
Breakfast Briefing – Fri 15 Jul
US stocks rallied into the close from early lows as rate-hike concerns and weak results from Morgan Stanley and JPMorgan hurt the market. The Dow finished down 143 points (-0.46%). SPI Futures are pointing to a 52 point loss (-0.79%) with iron ore and base metals all moving lower.
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* ASX 200 SPI Futures down 52 points.
* Dow closes down only 143 points (0.46%) after a 600point plus fall early.
* Nasdaq up 4 points (0.03%)
* S&P 500 falls 11 points (0.3%)
* Base metals smashed. Nickel down 8.7% Copper off 2.5%
* Oil falls 0.5% Gold down 1.7%
* Iron ore falls 4.8%
* US Bank reports disappoint. Chinese GDP today.
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Jul 14, 2022
End of Day – Thu 14 Jul
* ASX 200 rallied 29 points to 6651 (0.4%) despite *US* *CPI* and a strong jobs number locally. Resources firm., Banks weak ahead of US reports tonight. The *Big* *Bank* *Basket* fell to $163.39 (1.3%). *CBA* off 1.5%, *MQG* falling 0.2% and insurers under pressure, *SUN* down 0.2% and *QBE* unchanged Industrials firm with *CSL* up 0.8%, *RHC* up 1.1% in the healthcare space, *TLS* rallied 0.8% on its acquisition finalised. ‘Old Skool’ platform stocks better, *SEK* up 2.7%, *REA* up 2.1% and *CAR* doing well up 1.4%. Tech stocks better too, *WTC* up 2.5% and *XRO* going to hero up 2.0%, maybe some valuation upgrades given *ANZ* moves on *MYOB*. All Tech Index up 2.2%. Resources were better led by coal stocks, *WHC* up 6.5%, *TER* up 9.6% and *SMR *up 4.3% as coal prices remain elevated. Rumours that China will abandon its coal ban. *BHP* and *FMG* doing well as iron ore rise, Base metal stocks also in demand, *IGO* up 2.4%, *MIN* up 5.7% and *IGO* doing well up 2.4%. Lithium stock…
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Jul 13, 2022
Breakfast Briefing – Thu 14 Jul
US stocks hit a roadblock as inflation came in hotter than expected at 9.1%, although recovered into the close. The Dow still finished down 209 points (-0.67%). SPI Futures indicating a muted day of trade, down four points.
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* ASX 200 SPI Futures down 4 points.
* Dow falls 209 points (0.7%) Choppy and low volume.
* Nasdaq down 17 points (0.2%)
* S&P 500 down 17 points (0.5%)
* US CPI hits 9.1% highest in 41 years.
* Base metals flat. Iron ore up 1.9%
* Gold rises 0.6%
* Oil falt. Biden in Mid East.
* US Banks kicks off reporting season tomorrow.
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Jul 13, 2022
End of Day – Wed 13 Jul
* ASX 200 closed up 15 to 6605 (0.2%) as a late afternoon charge helped. A mixed quiet session as we await the *US CPI release* tonight. Banks firmed slightly with the *Big* *Bank* *Basket* up to $165.67 (0.7%). *CBA* the star up 1.1% with *MQG* doing well up 2.2%. *MFG* slightly higher too up 2.9%. Insurers flat with *IAG* down 1.1%. Industrials higher with *TLS* up 1.0%, *WES* up 1.2%. *GMG* rose 2.4% with *REITS* flat behind it. Tech stocks slightly better with *WTC* up 1.3% and *XRO* up 1.3% as *ANZ* indicates interest in *MYOB*. *QAN* rallying on the fall in oil price up 4.3% and *TCL* better again up 1.0%. Resources were mixed, *BHP* fell 1.4% with *RIO* off 1.4%, lithium stocks better as *VUL* ran 7.1%, *PLS* up 5.4 % and *IGO* up 1.1%. Oil and gas stocks eased as crude prices fell, *STO* down 1.3% and *WDS* off 2.9%. Coal stocks once again doing well, *WHC* up 4.5% and *NHC* up 3.1%.
* In corporate news, *CHN* up 3.7% on identifying new Ni-Cu-PGE targets at Thor. *KMD* issu…
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Jul 12, 2022
Breakfast Briefing – Wed 13 Jul
US stock fell overnight as recession fears continue ahead of the CPI number tonight. The Dow finished down 192 points (-0.62%). SPI Futures are predicting a flat open.
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* ASX 200 SPI Futures unchanged.
* Dow falls 193 in late fall (0.6%)
* Nasdaq down 108 points (1.0%)
* S&P 500 drops 36 points (0.9%)
* Base metals ease. Copper down 2.9%
* Gold down 0.5% Iron ore down heavily 3.1%
* Oil tumbles on recession fears down 7.1%
* RBNZ in focus at Midday.
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Jul 12, 2022
End of Day – Tue 12 Jul
* *ASX 200* gave up early gains to close up *4 points at 6606* (+0.1%). Resources were once again on the nose after more shutdowns in China affecting stimulus hopes with recession fears trumping all. Iron ore miners led falls, *BHP* down 1.4%, *MIN* off 2.6% and base metal stocks weaker with lithium depressed. *INR* down 7.5%, *PLS* off 2.2% and *AKE* down 4.8%. *Coal *and *energy *stocks firmed with *WHC* up 1.8% and *WDS* rising 0.5%. In the banking sector the *Big* *Bank* *Basket* rose to $164.56 (+1.1%) with *CBA* up 1.2%, elsewhere insurers flat, *MFG* continue to slip another 0.8%. Healthcare better led by *CSL* up 1.6% and *RMD* gaining 2.1%. Elsewhere industrials were mixed, *WES* better by 0.8%, *COL* up 1.9% and *WOW* up 2.0% but *TLS* down 0.8% and *REA* off 0.2%. Tech stocks slipping *TNE* down 2.4%, *MP1* down 4.1%. The *All*-*Tech* *Index* fell 1.1%.
* In corporate news, *APE* rose 3.3% on a positive business update. *CXO* fell 7.1% after a resource upgrade. *RHC* eased…
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Jul 11, 2022
Breakfast Briefing – Tue 12 Jul
US markets pulled back overnight amid rising Covid concerns in China and ahead of the CPI number later this week. SPI Futures are up 18 points.
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* ASX 200 SPI Futures up 18
* Dow down 164 (0.5%)
* Nasdaq down 263 (2.3%) Twitter falls 11.3% on Musk pulling out.
* S&P 500 down 45 (1.2%)
* Base metals ease. Gold down 0.5%
* Iron ore down 1.9% Oil steady.
* CPI and US Results in focus.
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Jul 11, 2022
End of Day – Mon 11 Jul
* 1. ASX 200 fell 76 points to 6602 (1.1%) on next to no volumes. Closed on day low. US futures turned negative with big week ahead and profit taking hitting last week’s winners. Banks fell with the *Big* *Bank* *Basket* down to $162.85 (0.2%). *MQG* slipped 1.7%, *ASX* off 1.8% and *MFG* rose 0.8%. Insurers held up as bond yields rose to 3.53%. Healthcare mixed, *CSL* up 0.2% with *FPH* and *RMD* snoozing, Industrials slipped, *WES* down 0.7%, *TCL* off 0.8% and *GMG* led REITs lower falling 1.6%. ‘Old skool’ platforms, *REA* down 4.2%, *SEK* off 4.7% and *CAR* crashing 2.8%. Tech stocks back in the seller’s sights today with second liners smacked again, *DUB* down 18.0%, *PBH* down 9.5% and *CDA* falling 6.2%.* DMP* dropped 6.3% on a broker downgrade. Resources were weak, *BHP* fell 3.1%, *FMG* off 2.6% with gold miners falling as *NCM* dropped 2.5%. Base metals and lithium stocks pushed lower *S32* down 2.7% and *PLS* off 2.6%. Oil and gas was a bright spot, *WDS* up 0.2% th…
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Jul 10, 2022
Breakfast Briefing – Mon 11 Jul
US stocks closed the week mixed but the major indices posted gains overall. SPI Futures closed up 20 points on Saturday morning.
Get up to speed with Henry's Breakfast Briefing.
* ASX 200 SPI Futures up 20 points
* Dow down 46 points (0.2%)
* Nasdaq up 14 points (0.1%)
* S&P 500 unchaanged.
* US jobs numbers 372k better than expected.
* Base metals ease slightly. Oil up 2.3%
* Gold up 0.1% Iron ore down 0.4%
* Quiet day in store.
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Jul 8, 2022
End of Day – Fri 8 July
* *ASX 200 rose 30 points to 6678 *(+0.5%) in lacklustre trade to end its best week since March. It was another day of bifurcation with resources turning green and banks seeing red. The *Big* *Bank* *Basket* slipped back to $163.35 (-0.4%). Insurers flat. *MFG* down 3% again on leaky FUM*, GQG* down 4.1% on its FUM. *MQG* flat with *PNI* up 1.7% after good results yesterday. Healthcare doing nada, *RHC* up 0.9% on speculation on takeover, *CSL* up 0.1% and industrials flat too. *TLS* down 0.8%, *WOW* down 0.3% and *ALL* up 0.3%. *REITs* dominated by a fall of 1.2% in *GMG* and tech becalmed. *XRO* up 1.6% and *WTC* rising 0.3%. Resources rallied hard but failed to hold early gains, zero to hero and back, *BHP* up 0.7%, *FMG* up 0.6% and *RIO* up 0.3% all doing well. Gold miners flat, base metals better, *IGO* up 3.2% and *OZL* rising 1.7%. Lithium stocks back in favour with *PLS* up 6.8% and *LTR* roaring ahead by 7.4%. Oil and gas perked up with crude rises, *STO* up 2.3% and *WDS* r…
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Jul 7, 2022
Breakfast Briefing – Fri 8 July
US stocks rallied as fed hawks downplayed recession fears. The S&P 500 (+1.5 %) and NASDAQ (+2.28%) posted their longest winning streaks since March, while the Dow finished up 1.12%. Looking to finish off the week on a positive note SPI Futures are up 49 points (+0.75%).
Catch up on the latest with Henry’s Breakfast Briefing.
* ASX 200 SPI Futures up 49 points (0.8%)
* Dow up 347 points (1.1%)
* Nasdaq up 259 points (2.3%)
* S&P 500 up 58 (1.5%)
* Base metals rebound strongly. Miners up overseas.
* Gold up 0.2% Oil up 4%
* Ir