Market Updates

ASX 200 fell 47 points to 6969 (-0.7%) but steady at lower levels as we await the US and European markets. Resources in a funk with BHP off 0.8% and MIN down 2.9%. The Lithium and battery material stocks cratered hard, PLS down 4.7%, CXO off 3.8% and AKE down 4.3%. Rare earths also remain under pressure with LYC down 3.2% and ARU off 7.9%. Gold miners were firm but unspectacular despite bullion he...

Wall Street fell sharply overnight, falling from near two-week highs after the Fed hiked interest rates by the widely expected 25bps but signalled it may be on the verge of pausing future hikes amid recent volatility and turmoil in the financial markets. The 2-year and 10-year treasury yields retracted, and the USD index softened on the Fed’s dovish note. Dow Jones down 530 points (-1.63%), closin...

Global equity markets closed up overnight as widespread fears over liquidity in the banking sector abated. All eyes are now on the Fed which is expected to wrap up its two-day policy meeting tomorrow with an expected 25bps hike. The USD dollar index edged lower, and short-dated treasury yields rose sharply. Dow Jones up 316 points (+0.98%). Dow up 349 at best. S&P 500 up 1.30%. NASDAQ up +1.58...

ASX 200 gained 57 points to 6955 (+0.8%) as the RBA meeting helped solidify earlier gains. Financial markets stabilised after recent volatility. Resources in general did well today with Gold mixed as the market consolidated gains from yesterday . NST down 1.5% , NCM up 0.6% and EVN up 2.1% . Iron ore stocks doing well on demand optimism. BHP up 1.3%, RIO up 1% and FMG unchanged after Andrew Forres...

Global equity markets rallied overnight after the historic deal from UBS to rescue Credit Suisse and central banks’ efforts to boost confidence in the financial system containing the banking crisis for now. Bond yields rose as markets weigh the chances of the Fed skipping a rate hike and the USD Index retracted. Dow Jones up 383 points (+1.20%). Dow up 418 at best. S&P 500 up 0.89%. NASDAQ up...

 ASX 200 fell 96 points to 6899 (1.4%) after a mid-morning rally fizzled out and reverses closing on lows for the day as US and European futures gave back early ground. All eyes on the European opening. Gold was the only sector in the green with NST up 8.5% and a NCM up 6.0% with second liners doing well, EVN up 10.1% and GMD up 8.0%. Bullion easing back a little from record AUD highs. Iron ore st...

**** UBS is paying 3bn Swiss francs ($4.5 billion) for Credit Suisse in an all-share deal that includes extensive government guarantees and liquidity provisions. The price is less than half the 7.4 billion francs Credit Suisse was worth at the close of trading on Friday. Regulator Finma said about 16bn francs of Credit Suisse bonds will become worthless to ensure private investors help bear some o...

ASX 200 claws its way up 29 points to close at 6995 (+0.4%). Some mid-morning jitters before Asian markets opened and steadied the ship. Modest gains across the board, Banks better with CBA up 1.1% and NAB gaining 1.5% with the Big Bank Basket up to $168.78 (+1.0%). Insurers better with QBE up 2.1% and SUN up 0.8%. Fund managers are better too, MFG up 3.7% and PTM rallying 6.7%. Industrials firmed...

Dow Jones up 372 points (+1.17%). Dow up 407 at best and down 303 at worst. S&P 500 up 1.76% . NASDAQ up 2.48%. VIX Volatility Index down 12.1%. In Europe, STOXX 50 + 2% FTSE +0.9% CAC +2% DAX +1.6%. SPI Futures are up 27 points (+0.39%). ASX to rise, Wall Street rallies on First Republic boost. Wall Street closes higher as First Republic helps lift banks. Global shares gain as banking sector...

ASX 200 finished down 103 points at 6966 (-1.5%) . ECB decision tonight and Debit Suisse rescue package with huge liquidity pool in focus. Selling was concentrated in resources again today, with BHP down 4.8% under pressure on UK class action and falling commodity prices. RIO also on the nose with FMG down 3.2%. Lithium stocks remain under pressure, PLS down 3.0% and MIN down 2.5%. Base metals wea...

Renewed fears gripped global markets overnight on news of problems at Credit Suisse. US indices mixed Dow and S&P 500 closed down. Treasury yields fell, and the two-year yield is down to its lowest levels since September. Gold rallied on safe-haven buying and the USD greenback strengthened. Dow Jones down 281 points (-0.87%). Dow down 726 at worst. S&P 500 down 0.86% . NASDAQ up 0.05%. VIX...

 ASX 200 opened strong, waivered, then rallied to close up 60 points at 7069 (0.9%). Gains across the board with banks solid but unexciting, the Big Bank Basket up to $168.65 (0.55%), MQG rallied 0.9% with insurers back in demand as yields steadied, QBE up 2.3% and SUN rallying back 1.9%. Wealth managers too doing ok, MFG up 4.8% and PTM rising 1.8%. Healthcare was better, CSL up nearly 1.8% and g...

The Dow Jones Industrial Average ended up 336.26 points, or 1.06%, at 32,155.40, snapping a five-day losing streak. The S&P 500 added 1.68% to close at 3,920.56. The Nasdaq Composite climbed 2.14% to end at 11,428.15. The SPDR S&P Regional Banking ETF (KRE) closed the session up 2%, regaining some ground following a 12% decline the day prior. Shares of First Republic Bank popped nearly 27%...

 ASX 200 fell hard again today from the off down 100 points to 7009 (1.4%) at the close. Well off the lows as some sensibility returned and bond yields stabilised. Banks were the target but insurers too under severe pressure. QBE down 3.7% and SUN off 3.6%. The Big Bank Basket fell to $167.83 (0.4%) with NAB the big bad bank off 1.5%. Regional banks in trouble, BEN down 1.6% and BOQ off 2.3%. MQG...

Dow Jones down 91 points (-0.28%). Dow up 331 at best. Down 285 at worst. S&P 500 down 0.15%. NASDAQ up +0.45%. In Europe, STOXX 50 - 3.1% FTSE -2.6% CAC -2.9% DAX -3%. SPI Futures are down 132 points (-1.86%). Gold rose 2.51% overnight as a safe-haven asset following the collapse of Silicon Valley Bank , which also sparked hopes that the US Federal Reserve would have to slow down its aggressi...

ASX 200 closed down 36 to 7115 (0.5%) in a volatile session as the SVB rattled confidence. Despite a huge US futures rally, the index remained under pressure all day. Asian stability and China comments from Li and Xi failed to dispel the uneasy feelings. Banks were under pressure as bond yields fell hard and GS and other walked back aggressive moves by central banks in the wake of the SVB implosio...

Dow Jones down 345 on Friday (-1.07%). Up 167 at best. Down 471 at worst. S&P 500 down 1.45%. NASDAQ down 1.75%. S&P 500 had its biggest weekly fall since September down 4.55%. The Dow Jones fell 4.44% and the NASDAQ 4.71% on the week. The S&P 500 has almost lost its 2023 gains. SPI Futures down 39 . European markets lower, STOXX 600 down 1.35%, UK down 1.67%, with Deutsche Bank down 7...

 ASX 200 fails to find any floor falling 166 points to 7144 (2.3%). Down 2% for the week. A killer combo of US bank worries, nerves before the US jobs number and a capitulation is some resource stocks caused a rupture in the time space continuum. Banks were an easy target with CBA down 3.3%, ANZ down 2.6% and the Big Bank Basket falling to $170.15 (-3%). MQG dropped hard down 3.2% with insurers al...

Wall Street reversed early gains overnight, weighed down by bank stocks and jitters ahead of employment data. Treasury yields retracted and the dollar softened, showing signs the Feds monetary policy is beginning to work as intended. Dow Jones down 58 points (-0.18%). Dow up 147 at best. Down 608 at worst. S&P 500 up 0.14%. NASDAQ up 0.4%. In Europe, STOXX 50 - 0.1% FTSE -0.6% CAC -0.1% DAX -0...

 ASX 200 closed up 3 points at 7311 (0.05%). A good effort considering the downdraft of around 28 points from BHP and RIO ex dividends. Solid gains across the board in a tight trading range with US jobs on Friday now the focal point after Powell. Banks higher again with CBA up 0.3% and WBC leading the charge up 1.2% with the Big Bank Basket up to $175.48 (0.6%). MQG flat, Insurers slightly higher...

US markets struggle for direction overnight and treasury yields rose again following hotter job figures and Powell’s reassertion that the Fed would continue to raise rates until inflation subsides. The Dow closed down 58 points (-0.18%). At best it was up 47, and at worst down 244. S&P 500 up 0.14%. NASDAQ up 0.4%. In Europe, STOXX 50 + 0.2% FTSE +0.1% CAC -0.2% DAX +0.5%. SPI Futures are up 3...

 ASX 200 fell hard down 57 points to 7308 (0.8%) after US falls and another day ahead of Powell testimony. Few sectors or stocks escaped today after the Fed spooking, Banks eased with CBA down 0.5% and WBC down 1.2%. The Big Bank Basket fell to $174.30 (-0.7%). MQG gave back some recent gains falling 1.1%, money managers held up better than expected. Insurers mixed. IAG and QBE slightly better. RE...

The Dow closed down 575 points (-1.72%) as markets fell on Powell’s Speech. S&P 500 down 1.53%. NASDAQ down 1.25%. In Europe, STOXX 600 -0.77% FTSE -0.13% CAC -0.46% DAX -0.6%.  US Banks taking a beating on the back of Powell's Speech, Wells Fargo down 4.68% and Bank of America down 3.2%. The ASX is set to open lower as the US central bank is expected to lift rates higher and potentially...

 ASX 200 shrugged off early losses to close up 36 to 7365 (0.5%) after the RBA raised rates by 25bps but hinted perhaps at a pause. The market took that well and rallied strongly post the announcement. Banks back yet again, the Big Bank Basket up to $175.48 (0.6%). With MQG up 1.6% and insurers rallying strongly with QBE up 2.3% and SUN up 1.3%. Fund managers better with the exception of MFG falli...

The Dow rose slightly Monday, as Wall Street fought to hold onto last week’s gains with a busy week ahead for traders including Jerome Powell heading to Capitaol Hill for two days of testimony. The Dow Jones gained 40.47 points, or 0.12%, to settle at 33,431.44. The S&P 500 added 0.07% to end at 4,048.42, while the Nasdaq Composite dipped 0.11% to close at 11,675.74. At session highs, the Dow...