Market Updates

 ASX 200 closed up 45 points at 7329 (0.6%) as once again we saw the market bifurcate. Banks the machine again pushing ahead with the Big Bank Basket up to $174.37 (1.1%) with CBA and NAB leading the charge. MQG also doing well up 2.4% with fund managers in demand after  GQG FUM numbers sending the stock up 1.4%. Insurers a little better QBE down 0.8% as it went ex div. Industrials firmed as tech...

US markets better on Friday,  bond yields dropped with the 10 year down 11bp and the two-year down 4bp. The US dollar also dropped 0.35%. Part of that was on the back of a dip in the services sector PMI number from 55.2 to 55.1. Hardly a pivotal release but the first economic number in the last couple of weeks that has come in below rather than above expectations. 55.2 is still a healthy clip as o...

ASX 200 finished the week on a solid note up 28 points to 7284 (+0.4%) as both banks and resources rallied. Fourth week of losses though. The Big Bank Basket rose to $172.48 (+0.7%). CBA bounced 0.7% and NAB in demand up 1.1%. MQG a more modest 0.3% with insurers easier and fund managers mixed. MFG up 1.1% and PTM down 0.8%. Industrials were better with REITs losing some ground as 10-year yields h...

Wall Street and the EU gained overnight, driven by optimism from the Federal Reserve's approach to interest rates. Federal Reserve Bank of Atlanta President Raphael Bostic said he still prefers to raise rates by another quarter percentage point, should the data suggest that the economy is stronger than he had predicted. Tesla saw its shares fall 5.8 %, as Elon failed to wow investors. Other T...

ASX 200 sprinted up around 30 points before closing up only 4 at 7255 (+0.1%) as ex-dividends weighed and concerns on banking competition took their toll. Resources and especially iron ore was the place to be with BHP rallying 4.0%, RIO up 4.0% and FMG up 4.3%. Lithium stocks were up although PLS was off going ex-dividend and with a giant CATL placement weighing. Gold miners doing well, NCM up 2.2...

Wall Street mostly lower following a rise in Treasury yields , as Fed Officials reiterate their intention to lift interest rates to more than 5%. Tesla , Apple and Amazon were among the US tech stocks to suffer losses, down 1.43%, 1.42% and 2.19%. The US 10-year yields briefly traded above 4% for the first time since November. ASX 200 Futures down 1 point (-0.01%). The Dow Jones closed up 5 points...

The Dow Jones closed up 72 points (+0.22%). At best it was up 372, and at worst it was down 3. The S&P 500 was up 0.30%, and the NASDAQ was up 0.63%. In Europe, STOXX 50 up 1.7% FTSE +0.70% CAC +1.5% DAX +1.10%. SPI Futures are up 34 points (+0.47%). Copper prices rose 1.2% overnight as the dollar weakened but remained close to seven-week lows due to weak demand in China. Gold prices up 0.4% a...

ASX 200 dropped 82 points to 7210 (-1.1%) in a nasty start to the week. Weak US leads and a collapse in commodity prices took their toll. Resources under serious pressure today with FMG ex-dividend and then some, weighing with the stock losing 7.3%. BHP capitulated down 3.0% and RIO off 2.9%. So much for 'solid'. Lithium stocks also in the seller’s sights as PLS were ditched, down 7.3%,...

ASX 200 finished up 22 points to 7299 (0.3%) down around 0.5% for the week. A busy week with results dominating. Industrials and banks better with the Big Bank Basket slightly higher at $178.53 (0.8%). Insurers rose, and fund managers fell, MFG down 2.4% and PTM off 3.4%. MPL kicked 2.1% higher on broker comments. Tech better as WTC rose 4.1% with the All - Tech Index higher by 1.6% and XRO up 1.6...

The S&P 500 was up 0.5%, while the Dow Jones Industrial Average gained 111 points, or 0.3%. The Nasdaq Composite rose 0.7%. The major averages are still on pace to end the week on a downturn, with the S&P 500 on track for its worst weekly performance since Dec. 16. Block falls after hours. Boeing suspends deliveries on fuselage issue. Warners disappoints. PCE data tomorrow. SPI Futures up...

ASX 200 dropped 29 points to 7286 (0.4%), which once again was not too bad considering BHP hit a seven-week low down 3.4% and RIO fell 1.7%. Resources generally were mixed, FMG only modestly lower, lithium stocks rallied slightly, PLS up 5.2% ahead of results tomorrow, and gold miners continued to lose their lustre. Oil and gas stocks slid as crude fell, WDS off 0.6% and STO down 1.3%. Coal miners...

The Dow Jones Industrial Average dropped 83 points, or 0.25%. The S&P 500 fell 0.15%, while the Nasdaq Composite rose 0.13%. Nvidia results to come. SPI down another 20 points. The FOMC minutes showed inflation remained “well above” the Fed’s 2% target, adding that the labor market is still “very tight, contributing to continuing upward pressures on wages and prices.” BHP and RIO fall over 3%...

 ASX 200 pulled up slightly after an early dive closing down 22 points at 7315 (0.3%). Wage data beat estimates and maybe helps RBA a little, helped index off lows. Banks were mixed with the Big Bank Basket down to $177.06 (-1.1%). CBA down 2.3% ex-dividend. Other financial eased with Fund Managers falling PPT off 1.1%, PNI down 3.1% and MFG falling another 2.1%. Industrials were mixed, staples be...

The Dow Jones Industrial Average dropped 697.10 points, or 2.06%, to close at 33,129.59. This was the index’s worst downturn since Dec. 15, when it fell 2.3%. The S&P 500 slid 2.00% to close 3,997.34, marking its worst day since Dec. 15, when it fell 2.5%. All sectors ended lower, with consumer discretionary stocks seeing the largest decline of 3.3%. The tech-heavy Nasdaq Composite pulled back...

 ASX 200 finished only down 15 points to 7338 (0.2%) as BHP fought back as the day wore on. After an initial 2% plus fall, BHP went on the charm offensive and won back the disbelievers, closing down only 0.3%. Resources were back in demand on Mike Henry’s comments on China, lithium stocks bounced hard, PLS up 4.5%, MIN up 3.8% and IGO rising 1.4%. Iron ore miners pushed higher as commodities stren...

US markets were closed overnight for Washington's Birthday . Chinese equities continued rallying, supported by the country's deepening stimulus and relaxed pandemic restrictions. Walmart and Home Depot prepare to release their retail earnings reports this week, giving an insight into US consumer demand. In Europe, Stoxx 600 +0.07%, UK FTSE +0.12%, France's CAC -0.16%, German DAX -0....

ASX 200 flip flopped today closing up 5 points at 7352 (0.1%). Banks starting to find support after a drubbing last week, BEN results helped with the Big Bank Basket up to $180.28(1.1%). CBA racing back up 1.3% and NAB up 1.5%. Other financials doing well, MQG up 0.9% and ASX up 0.8%. Insurers mixed, QBE ran hard up 3.7% on broker upgrades. PTM also doing well up 3.1% as Kerr Neilson calls for And...

The Dow finished 130 points higher on Friday, while the S&P 500 and Nasdaq 100 lost nearly 0.3% and 0.6%, respectively, as investors worried about Fed’s larger rate hikes amid rising bond yields and inflation reports.  SPI down 1 point. Goldman Sachs, Bank of America expect three more US rate hikes this year. Hawkish ECB comments push-up rate hike expectations Fed officials say more rate hikes...

ASX 200 sank another 64 points to 7347 (0.9%) as US markets weighed and Phil Lowe spent another day in a hairshirt. Losses across the board,the  Banking sector still beyond underwhelming. CBA lost 0.5% and NAB was sold off hard down 2.2% with the Big Bank Basket down to $178.27 (0.8%). Elsewhere in financials, MQG’s crown slipped down 2.6%, MFG gave back some gains off 2.9% and GQG fell 4.5% and t...

The Dow Jones Industrial Average shed 431 points, closing on its lows, or 1.26%. The S&P 500 dipped 1.38% and the Nasdaq fell 1.78%. Microsoft and Disney contributed the most to the Dow’s decline, down more than 2% each.  SPI down 18 points.  The US producer price index jumped 0.7% in January, driven up in part by a 5% surge in energy prices. That increase compared with a 0.2%  drop from Novem...

ASX 200 rallied back 58 points to 7409 (0.8%) after the drubbing yesterday. Bank steadied on NAB Q1 results, with NAB up 0.7% and ANZ up 0.6%. CBA copped some downgrades falling another 1.5% with the Big Bank Basket falling to $179.69 (0.750. MQG ran 1.7% with MFG also doing well on results up 6.4%, Insurers better too, QBE up 1.0% and SUN rallying 1.6%. Industrials were firm, WES kicked hard up 4...

The S&P 500 climbed 0.28% to end the session at 4,147.61 points. The Nasdaq gained 0.92% to 12,070.59 points, while Dow Jones Industrial Average rose 0.11% to 34,128.05 points. Nine of the 11 S&P 500 sector indexes rose, led by a 1.2% gain in consumer discretionary .  More than half of all S&P 500 companies have reported quarterly earnings, and nearly 70% of those have topped profit ex...

 ASX 200 fell 79 points to 7352 (1.1%) as banks fell sharply after CBA results prompted questions about the outlook. The Treasure calling on the ACCC didn’t help. The Big Bank Basket fell to $180.92 (5%) with CBA down 5.7% and NAB off 4.1%. Insurers lid a little, MPL up 1.3% and MQG down 0.4% with MFG getting a rare broker upgrade rising 7.1%. In the industrials, staples eased, WES reported good n...

The Dow Jones Industrial Average slipped 156.66 points, or 0.46%, to close at 34,089.27. The S&P 500 fell 0.03% to 4,136.13. The Nasdaq Composite recouped losses to close 0.57% higher at 11,960.15, boosted by technology stocks including Tesla and Nvidia, which rose 7.51% and 5.43%, respectively.  SPI Futures up 1.   US CPI came in pretty much inline. Inflation rose in January by 0.5% “Super co...

 ASX 200 closes up 13 points to 7430 (0.2%) after caution crept in and results weighed. US CPI tonight the key. Resources turning negative as MIN fell 4.1%, AKE down 1.0% and BHP and RIO eased back. Gold miners steady but lithium under a little pressure. LYC unchanged on a Malaysian regulatory update. Oil and gas mixed, WDS down 1.1% but STO up 0.6% despite write downs. Coal stocks eased back. In...