Market Updates

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 si...

 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...

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 signa...

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 p...

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...

 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 O...

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 w...

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...

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...

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...

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% ann...

 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 u...

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...

 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 reporte...

 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-resi...

 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 yield...

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 comm...

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...

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 (...

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 RB...

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)...

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 S...

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 Nas...

 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...

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...