Market Updates

US markets closed overnight for Juneteenth National Independence Day. Australian shares to fall at the opening bell, with SPI Futures down 21 points . European equity markets closed firmly lower, weighed down by losses in real estate and technology stocks, while UK miners found buyers as the market digested inflation data. The STOXX 50 fell 0.61%, and the STOXX 600 eased 0.17% after the European C...

The Australian market has finished the day down 8 points (-0.11%) to 7770. Energy was the standout performer on the back of another strong gain in the oil price (WTI was up 1.7% overnight). WDS and STO up 1.3% and 1.1%. BPT in contrast was hit hard, down 4.3% on multiple broker downgrades after the company announced low er production and higher CAPEX yesterday. Staples continued their strong run,...

Wall Street ended higher overnight following softer-than-expected US retail sales data. The S&P 500 recorded its 31st record high of the year, gaining 0.25%. Boosted by Nvidia up 3.5%, surpassing Microsoft (-0.5%) to become the world's most valuable company . Market cap of $3.335T. The NASDAQ was near flat, while the Dow advanced 57 points (+0.15). Up 159 points at best. Down 50 points at...

The ASX 200 has finished the day up 78 points (1%) to 7778, closing near the high. The RBA’s decision to hold rates passing unnoticed by the market. Bond yields did respond, the AU2Y rising 5bp on the announcement and subsequent Michele Bullock press conference. The Utilities sector was the star performer thanks to a 3.5% rise in ORG. Banks were next best with solid gains continuing. MQG up 2.6%,...

US equities kicked off the week on a positive note . The S&P 500 rose 0.77%, hitting its 30th record high this year. The NASDAQ advanced 0.95%, marking its sixth consecutive record high, buoyed by gains in large tech stocks. The Dow Jones gained 189 points (+0.49%), ending just off best levels. Up 251 points at best. Down 157 points at worst. Philadelphia SE Semiconductor index touched an all-...

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ASX 200 limped to a 34-point rise to 7750 (+0.4%), following the US higher without great enthusiasm. Jobs numbers this morning point to no reason for the RBA to cut rates. Meeting next week. Once again, it was a tale of two sectors. Banks up, and resources down. The Big Bank Basket continued to trundle higher, up to $216.44 (+0.8%) led by CBA up 1.1%. NAB is at a nine-year high, up 0.8%. MQG slipp...

Wall Street ended mixed overnight. The S&P 500 and NASDAQ both posted record closing highs for a third consecutive session, gaining 0.85% and 1.53%, respectively, with the S&P 500 topping 5,400 for the first time in its history. The Dow fell 35 points (0.09%), losing its morning gains. Up 373 points at best. Down 126 points at worst. The FOMC meeting can be dubbed as a nothing burger, the...

ASX 200 lost another 40points to 7716 (0.5%) ahead of Fed meeting and US CPI.  Once again, resources were the biggest culprits as iron ore remains under pressure, BHP fell 0.6% and RIO off 1.5% with base metals falling, S32 continues to soften down 0.8% and PLS falling 2.9%. Uranium stocks on the nose as spot prices head lower, BOE down %, DYL down % and NXG falling hard. Gold miners were mixed to...

The S&P 500 and the Nasdaq Composite rose to fresh closing records on Tuesday, led upward by Apple. The 30-stock Dow Jones Industrial Average lost 120.62 points, or 0.31%, to end at 38,747.42. ASX SPI down 36 Oil settled slightly up on forecasts for strong global demand. Gold edges up as investors eye Fed outlook, US inflation data. Iron ore tumbles to 2-month low on concerns over weakening Ch...

ASX 200 fell 105 points to 7753 (-1.3%) as banks pulled back from record highs and resources came under pressure on commodity price drops on US data. Iron slipping badly towards $100, BHP down 1.8%, RIO down 1.9%, and FMG off 3.2%. Base metal stocks were badly mauled, S32 off 5.2% and PLS falling 3.8%, with other lithium stocks similarly afflicted. Gold miners also whacked on bullion falls, NST do...

The S&P 500 and Nasdaq Composite closed at fresh records as Nvidia lifted tech stocks and investors looked ahead to the Federal Reserve’s interest rate decision. The broader market index advanced by 0.26%, closing at 5,360.79, while the Nasdaq Composite gained 0.35% to end at 17,192.53. The Dow Jones Industrial Average added 69.05 points, or 0.18%, ending at 38,868.04. SPI down 46 Friday 33 la...

ASX 200 pushed 38 points higher to 7860 (+0.5%) for a third day of gains. Up 2.1% this week . Today resources took up the running, the Three Amigos of Iron ore kicked higher, BHP up 1.1%, and FMG rallying 1.3%. Gold miners were also in demand on bullion highs, NEM up 2.9% and EVN up 1.8%. Base metals slightly higher 29M up 6.0% with lithium stocks mixed, PLS down 2.9% and MIN down 1.0%. Oil and ga...

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ASX 200 pushes another 53 points higher to 7822 (+0.7%), with banks leading us ever higher. CBA hitting records up 1.1% as they started making Ai chips (joking), the Big Bank Basket up to $215.88 (+1.0%). MQG also doing well, with financials generally in the green, insurers up around 1.5% and REITs better on rate cut hopes and falling yields. Industrials too up, WES up 1.0% and WOW and COL up arou...

ASX 200 rallies 32 points to 7769 (+0.4%) as rate-sensitive and defensives seize the day. Banks pushing onwards and upwards, CBA up 0.8% with the Big Bank Basket up to $213.81 (+0.7%). Insurers rallied for no real reason, QBE up 0.4% and SUN up 1.6%. GQG on the nose following Modi failing to win a majority in Indian elections. REITs are also in demand as 10Y remains subdued after tepid GDP helped...

The S&P 500 jumped 1.18% to close at 5,354.03. The index also touched a new intraday all-time high of 5,354.16. The Nasdaq Composite jumped 1.96% to 17,187.90 and also hit a new record, while the Dow Jones Industrial Average added 0.25% to close at 38,807.33.  Nvidia powered those gains surging more than 5% to top a $3 trillion market valuation and surpass Apple in value. ASX to rise. SPI Futu...

Stocks in the US finished slightly higher on Tuesday, as the S&P 500 and the Nasdaq added 0.1% each, while the Dow rose 140 points. Investors were digesting fresh data and assessing the health of the US economy and the future path of interest rates. The JOLTS job openings fell significantly more than forecast to 8.059m, the lowest level since February 2021, indicating a cooling labor market. A...

ASX 200 slips 24points to 7737 (+0.3%) in lacklustre trade. Banks held up after good gains yesterday, the Big Bank Basket at $212.35 (+0.6%). Insurers slipped back, and MQG went nowhere. REITs mostly weaker, GMG up 0.6% with others softer, SCG off 1.3% and GPT down 0.9%. Healthcare mixed CSL with a slight gain, SHL down 0.5% again. Industrials were flat, TLS up 0.3% and BXB down 1.2%. QAN rebounde...

Wall Street closed mixed in a choppy trading session amid soft manufacturing data, and a glitch on the NYSE caused trading halts in dozens of equities. The Dow fell 115 points (0.30%), kicking off June on a sluggish note. Up 49 points at best. Down 439 points at worst. S&P 500 turned green in the final minutes of trading, up 0.11%, buoyed by a rally in tech stocks offsetting a plunge in energy...

ASX 200 jumps 59 points to 7761(0.8%) as US gives a positive start to the week. Banks as usual leading the charge higher, the Big Bank Basket up to $210.96 (). WBC jumping 2.5%. MQG is up slightly with insurers doing well, QBE is up 2.6%, and SUN rallied 1.3%. REITs strong too, GMG up 1.9% and SGP up 1.8%. Industrials mixed, REA and CAR eased, WES up 0.8% and COL doing well, utilities also in dema...

Wall Street closed mixed following PCE results. The Dow Jones jumped 575 points (+1.51%), registering its biggest daily percentage gain since Nov-23. S&P 500 broke 5,200 before rallying above that level as every sector rallied, gaining 0.80%, and the NASDAQ slipped 0.01%. For the week, Dow fell 384 points (-0.98%), S&P 500 -0.51%, and NASDAQ -1.10% breaking five straight weeks of gains. Fo...