Market Updates

Stocks rallied on Thursday as investors regained confidence in the economy following encouraging consumer and labor data that helped ease recession worries. The Dow Jones Industrial Average leaped 554 points, or 1.39%, to end the day at 40,563.06. The S&P 500 closed up 1.61% at 5,543.22, for its sixth straight gain. The broad market index has advanced roughly 8% from its intraday bottom on Aug...

ASX 200 gave up its gains to be up only 15 points to 7866 (0.2%) after being skewered by jobs data and iron ore prices in Singapore. Economic data showed the jobs market was still tight despite the headline number rising to 4.2%. Iron ore slid again in Singapore on Chinese steel news, BHP fell 1.0% and RIO was off 3.6%, including its dividend. FMG down another 2.9% with MIN falling 3.0%. Lithium s...

The NASDAQ and S&P 500 finished 0.03% and 0.38% higher, extending their winning streak to five sessions. US Inflation data reassured the markets the Fed would start cutting rates next month. The Dow advanced 243 points (+0.61%). Up 303 points at best. Down 28 points at worst. Small firms Russell 2000 eased 0.52%, and the VIX dropped 12.53% as sentiment improved. Treasury yields were mixed. 10Y...

ASX 200 rose another 24 points to 7851 (+0.3%) as iron stocks fell hard on Asian price falls. BHP, RIO and FMG dragging the index back from 7910 high. BHP down 2.8% and FMG crashing 4.6%. Iron ore futures in Singapore sank a further 2.3% to $US96.25 a tonne. Other resource sectors pulled lower. Lithium tried hard to rally, but PLS was unchanged and MIN off 4.6%. Gold miners mixed, RED off 1.4% and...

Wall Street closed higher overnight , hitting a two-week high after soft PPI data reinforced bets of rate cuts in September. The S&P 500 climbed 1.68%, clocking its biggest four-day rally this year, led by tech stocks. Starbucks was the top-performing stock in the index, rallying 24.5% after appointing Chipotle head Brian Niccol as chairman and CEO. The Dow Jones ended near session highs, fini...

ASX 200 rose 13 points to 7827 (+0.2%) in quiet cautious trade ahead of US PPI tonight. Results are once again the focal point. Solid numbers from TPW and good guidance helping the retail sector again, with JBH up 4.0% on broker upgrades, PMV rose 1.2% and HVN pushing 1.9% ahead. Banks, as always were the beating heart of the market, with CBA up 1.5% ahead of results tomorrow. WBC and ANZ better o...

US equities ended mixed overnight after a choppy day of trade. The Dow slipped 141 points (-0.36%). Up 90 points at best. Down 246 points at worst. The S&P 500 finished unchanged after two straight days of gains last week, rebounding from last Monday's sharp sell-off that shook markets around the globe. Tech-heavy NASDAQ rose 0.21%, and the Russell 2000 Index focused on small companies lo...

ASX 200 rose 36 points to 7814 (+0.5%) in quiet trade. Just for a change, banks led the market higher, as we wait for CBA numbers on Wednesday. The Big Bank Basket rose to $222.96 (+0.8%). Other financials were also firm: QBE and SUN were up around 0.9% and 1.4% respectively, with MQG up 1.3%. REITS eased back slightly, with the exception of GMG , which rose 1.3 %. Industrials firmed: WES was up 1...

Wall Street ended the week on a calmer note in an uneventful day of trade. The S&P rose 0.47%, almost regaining all its losses since Monday's sharp sell-off, triggered by the unwinding of yen-funded carry trade and fears of a recession. The Dow edged higher, up 51 points (+0.13%). Up 182 points at best. Down 216 points at worst. The NASDAQ gained 0.21%, but small firms in Russell 2000 los...

ASX 200 closes up 96 points to 7777 (+1.2%) still down 2% for the week. Resources took up the baton in the ‘repechage’. Gains in iron ore in Singapore brought buyers back in. BHP up 1.6%, and RIO up 2.0%. Lithium stocks also bounced, with PLS doing well, up 3.0%, as MIN rallied 1.5% and S32 up 3.9%. Gold miners bounced back, NST up 1.2%, and WAF up 6.8% after a baton drop yesterday. Oil and gas be...

Wall Street rallied overnight, ending near best levels after jobless claims fell more than expected, easing concerns that the labour market was weakening too quickly. The S&P 500 rose 2.30%, its biggest daily gain since November 2023. All major sectors finished the green, led by tech stocks, although pharmaceutical stock Eli Lily was the biggest winner, up 9.47% after raising its annual profit...

ASX 200 slips 18 points to 7682 (-0.2%) as banks rally and resources slip. BHP testing $40, down 2.0%, with RIO and FMG under pressure too. Lithium stocks fell as MIN down 2.2%, and IGO off 2.5% on nickel plans. Gold miners fell hard as bullion slipped, NST down 2.5% and PRU off 4.9%, with changes in Burkina pushing WAF down 10.8%. Uranium stocks fallout continues with BOE off 4.0% and DYL down 5....

Wall Street closed lower overnight, ending near worst levels. Indices were weighed down by tech stocks and weak demand in treasury auctions, triggering choppy trading. The Dow fell 234 points (-0.80%). Up 480 points at best. Down 266 points at worst. Treasuries came under pressure after 17 blue-chip stocks offered $31.8bn in debt. Spreads between high-grade corporate bonds and US treasuries jumped...

ASX 200 bounces 19 points to 7700 (+0.3%) as risks start to recede. Soothing words from a BoJ Deputy helped things along.  Banks struggled or we would have been higher. ANZ up 0.2% on a broker upgrade, the Big Bank Basket slid to $217.06 (-0.4%). Insurers did better, and market stocks like GQG also did well. A FUM update from this one helped too. Healthcare better, led by CSL up 0.7% and SHL up 0....

ASX to slip. SPI Futures down 19 points (-0.25%). US equities snapped a three-day wild rout as investors piled back into the market following recent comments by Fed officials easing US recession concerns. The S&P 500 rose 1.04%, with all major sectors finishing the green, supported by bargain hunters after the index fell into “oversold” territory. The NASDAQ advanced 1.03%, supported by gains...

ASX 200 bounces 31 points to 7681 (+0.4%) as Japan rebounds strongly. RBA left rates unchanged as expected. Bank bounced hard, with the Big Bank Basket up to $217.86 (+1.4). Other financials were mixed, MQG gained 1.3%, but NWL fell 0.4%. REITs bounced hard too, GMG up 2.2%, with SGP putting on 0.9%. Industrials firmed, TCL up 0.2%, and WES rallying hard up 2.3%, with tech slightly less enthusiast...

Wall Street finished deep in the red overnight, hit with a renewed bout of volatility on talks about a US economic recession and a wave of institutions unwinding popular carry trades in Japan. The S&P 500 plunged 3%, its worst daily fall in about two years, down ~8.5% from its peak. The NASDAQ plummeted 3.43%, and the Dow lost 1,034 points (2.60%). Down 1,238 points at worst. Small caps Russel...

 ASX 200 fell a huge 294 points or 3.7% today to 7650 as banks came under serious pressure. Financials across the region were aggressively sold off from MQG to Mitsubishi . The Big Four were torched, and the Basket dropped to $214.81 (-5%). CBA falling 5.7%. Insurers too sold down aggressively, QBE down 5.0% and SUN off 5.8%. REITs were also sold off despite yields remaining relatively steady. GMG...

The sell-off on Wall Street continued for a second consecutive session overnight. Weak jobs data fuelled worries that the Fed's decision to hold rates at two-decade highs is risking a hard landing/recession. Market fears have triggered a surge in volatility seeing the VIX jump to 23.39 (+25.8%), its highest since March 2023. The S&P 500 recorded its worst reaction to jobs data in almost t...

ASX 200 drops 172 points in the worst one-day fall in 16 months, to 7938 (-2.1%). For the week, we are relatively unchanged. All that record-breaking rally was undone. Big hits across the board as US markets led us lower and Japan in trouble. Banks were sold off aggressively, with CBA leading the sell off down 2.8% as ANZ fell only 1.8%, outperforming.  MQG off 2.2% on news of a $1bn hybrid issue,...

US equities kicked off August sharply lower as the market whipsawed to risk-off just a day after the S&P 500 and NASDAQ recorded their best daily performance since February on Wednesday. The Dow ended 495 points lower (-1.21%). Up 254 points at best. Down 744 points at worst. The S&P 500 lost 1.37%, just one day after rallying 1.6%, and the tech-heavy NASDAQ dropped 2.30%. Russell 2000 slu...

ASX 200 rallies only 22 points to 8115 (+0.3%) as good times roll. Record high. A slight sell-off in the banks with a tentative rotation to resources. BHP up 0.5% and RIO doing much better up 1.9%. FMG underwhelmed, although up another 0.6%. Gold miners better but still no real frenzy, NST up 0.9% and NEM up 2.0%. Uranium and lithium tried to rally but it was muted. PDN up a modest 2.2%. PLS up 4....

US equities rallied overnight, driven by a surge in tech stocks and dovish commentary from Powell. The S&P 500 climbed 1.58%, with six out of 10 sectors advancing, led by tech and consumer cyclical stocks. The NASDAQ rose 2.64%, its second-biggest daily percentage gain since February, buoyed by gains in Nvidia , up 12.8%, on positive sales forecast by peer AMD, which also rose 4.34%. Philadelp...

ASX 200 has finished the day with a huge rally up 139 points or 1.8% to 8092 . It’s best session since November 2022. All major sectors closed in the green after an after-hours chip stock bounce in the US combined with a mid-morning inflation numbers boost (+1% QonQ in line with expectations). Rate-sensitive Technology was the best-performing sector as bond yields took a huge fall . Australian 2Y...

Wall Street finished mixed as mega-cap tech stocks extended their losses in late trade as Microsoft’s results fuelled concerns over AI. The Dow advanced 203 points (+0.50%) with gains in major banks offsetting losses in Merck -9.81% and Procter & Gamble -4.84%. Dow up 326 points at best. Down 11 points at worst. S&P 500 fell 0.50%, while the S&P Equal Weight Index gained 0.46%, buoyed...