Market Updates

ASX 200 slips 22 points to 7468 (-0.3%) on higher-than-expected CPI . Turnaround from solid open as CPI came in above expectation at 7.8% highest since 1990. Resources slid a little with BHP off 1.0% and RIO down 0.7% with quarterlies dominating and gold miners sliding lower. SBM collapsed on quarterly down 21.4%, lithium slightly better in places, IGO up 0.3% and MIN falling 2.2% on delays at Mt...

The Dow gained 140.40 points, or 0.31%, to close at 33,733.96. The S&P 500 dipped 0.07% to settle at 4,016.95, while the Nasdaq Composite dropped 0.27% to end at 11,334.27.  72 of the companies in the S&P 500 have now reported with 65% of those beating consensus. Treasuries were firmer with the curve flattening, ending near best levels after today's strong 2Y auction.  Microsoft beats...

The Nasdaq Composite surged 2.01% to finish at 11,364.41, while the Dow Jones Industrial Average rose 254.07 points, or 0.76%, to end at 33,629.56. The S&P 500 added 1.19% to settle at 4,019.81. Tesla and Apple gained on hopes that a reopening in China would boost their businesses. Both big tech names recently grappled with temporary shutdowns and blows to production as the country dealt with...

ASX 200 closed up 5 points to 7457 (0.1%) in thin trade as resources slipped slightly on Lunar New Year with BHP down 1.1% and FMG off 1.0%.  Lithium and base metals picked up led by PLS up 6.2% with IGO up 3.1% and LTR bouncing from Friday’s sell off, up 6.9%. Base metals and other commodity stocks did well, NIC up 3.2% and SYR up 1.3%. Gold miners too in demand, NCM up 0.5%, DEG up 0.3% and SBM...

The Dow Jones Industrial Average added 330.93 points, or 1%, to close at 33,375.49, while the S&P 500 advanced 1.89% to 3,972.61. Both indexes snapped a three-day losing streak. Meanwhile, the Nasdaq Composite rose 2.66%, with help from Netflix and Alphabet, to end the day at 11,140.43  Wall Street climbs on Alphabets, Netflix lift. Netflix subscriber growth easily tops expectations. Stocks ga...

ASX 200 finished the week well up 17 points to 7452 (+0.2%) at a nine-month high, with big resources driving things higher. BHP heading up on broker positivity up 0.5% with RIO up 1.0%, gold miners doing well too, NCM up 2.4% and NST rallying another 3.2%. PLS was the standout after its huge cash pile just keeps on growing, up 13.2% and MIN up 1.8%. In lithium we trust, except for LTR which crater...

US markets are down overnight for the third straight day as concerns for global recession mount with more US Fed officials taking a hawkish stance after new economic data pointed to a tight labour market. European markets fell from ECB Christine Lagarde’s comments at Davos and the Yen appreciates against the greenback following BoJ’s policy decision the previous day. The Dow Jones closed down 252...

 ASX 200 shook off early apathy post the jobs number and BHP quarterly and saw the ASX 200 up 42 points to 7435 (+0.6%). SPI and ETO expiry helping volumes. Resources led the charge higher with BHP up 1.2%, RIO sprinting ahead 3.3% and FMG doing well up 1.7% ahead of Chinese New Year and better ore prices. Lithium stocks remain under some pressure, PLS up only 0.3% and IGO up 0.9% with some base m...

US markets fell overnight, with the Dow down 1.81% as two Fed Officials called for continued interest rate increases off the back of weak retail sales data showing consumers are retrenching but still exceeded estimates. The Dow Jones closed down 614 points (-1.81%). At best it was up 106 points, at worst it was down 641 points. The NASDAQ declined 1.24%, as rate-sensitive sectors declined, Tesla d...

ASX 200 closes up 7 points at 7393 (0.1%) in another tight-range day. Tiny late surge. Seems BoJ was not a catalyst after all. The song remains the same from the central bank. Good times and bad times from resources as Chinese authorities once again shake a waggly stick on iron ore prices. BHP down slightly, FMG up 0.8%, RIO up 1.1% and MIN up 0.3%. Lithium stocks remain dazed and confused.  PLS d...

The Dow Jones fell 392 points (-1.14%) the NASDAQ finished 0.14% higher and the S&P 500 lost 0.20%. European markets were mostly higher, with STOXX 600 +0.40%, UK FTSE -0.12%, France +0.48%, Italy +0.31%, Greece +0.59%, and German DAX finished +0.35% higher. SPI Futures are up 14 points (+0.19%). In commodities, Copper rose to a 7-month high on Chinese demand despite data pointing to weak dema...

ASX 200 closes down 2 points to 7386 (0.03%) in tight trading ahead of US reopening tonight and more results to come. Resources suffering today after iron ore stocks came under some pressure on Chinese moves. BHP failed to hold all-time highs falling 1.3% with RIO reporting quarterly today down 1.2% and FMG off 1.3%. Gold miners were in profit taking mode after the big run, NCM down 1.8% and NST o...

US Markets closed for Martin Luther King Jr Holiday. SPI Futures down 18 points. Gold eases as USD rallies slightly. US Dow Futures down around 38 points. Commodities mixed Copper down 1%.  Oil down 1.3% European equity markets closed higher on Monday, with the STOXX 600 extending its 2023 rally to a fresh nine-month high led by retail, financial and media stocks. Domestically, the German DAX adde...

ASX 200 closed up another 60 points to 7388 (0.8%) as banks took up the baton again. The Big Bank Basket rose to $187.82 (0.95%). CBA up 0.8%, WBC up 0.7% with fund managers up strongly too, MFG up 2.9% and GQG up 2.6%. Insurers steady. REITs better again on rate outlook. GMG up 2.2% and SGP up 1.9%. Tech stocks also doing well with WTC up 4.0% and XRO up 4.6% with the Index up 2.6%. Lower rates h...

Dow Jones up 113 points (+0.33%). Up 152 at best, down 274 at worst. Dow Jones up 2.0% for the week. S&P 500 up 0.41% and up 2.7% for the week. NASDAQ up 0.73% and up 4.8% on the week, the biggest weekly gain in two months. So far this month the S&P 500 is up 4.2%, the Dow Jones up 3.5%, the NASDAQ up 5.9%. At the same time, the VIX Volatility index is at a one-year low. A good start to th...

ASX 200 closed up 48 points to 7328 (0.7%) as the rally started to run out of juice in the short term. Banks took up the baton as the Big Bank Basket rose to $186.05 (+1.2). CBA up 1.3% and NAB up 1.6%. MQG rallying another 0.7% with insurers better, QBE up 0.8%. REITs continued to push higher with SGP up 0.5%, SCG up 1.4% and Fund Managers also better, GQG up 3.3% and MFG up 2.6%. Industrials wer...

Bond yields tumbled overnight as US inflation slowed for the sixth straight month in line with expectations, opening the door for the Fed to downshift on rate hikes. The Dow Jones closed up 217 points . At best it was up 320 points, and at worst it was down 181 points, in a volatile trading day. The NASDAQ rose 0.64% and the S&P 500 finished 0.33% higher. In Europe, Stoxx 50 +0.7% FTSE +0.9% C...

 ASX 200 surged again as resources boomed, the index up 85 points to 7280 (1.2%). Big miners in demand with BHP up 1.8% to another 52-week high, FMG up 2.8% and RIO up 1.5%. Lithium and rare earths better too, PLS up 4.5% and LYC up 2.1%. Gold miners mixed, NCM down 0.6% and NST up 0.9%. Energy stocks a little mixed, coal stocks eased, SMR down 2.5% WHC off 1.4% while oil stocks better, WDS up 2.1...

Markets continue to gain as investors hope for a downshift in Fed interest rate rises, After suffering for the past year on interest rate rises Tech lead gains overnight on hopes of a dovish Fed. The Dow Jones was up 269 points (0.8%). At best it was up 271 points, and at worst it was up 7 points. The NASDAQ rose 1.76%, and the S&P 500 finished up 1.28%. In Europe, Stoxx 50 +1.04%, UK FTSE +0....

ASX 200 rose 64 points to 7195 (0.9%) in a good bounce led by resources. Even a better CPI number couldn’t hold the Mustangs down. Gold miners bounced back after falls yesterday, iron ore miners BHP, FMG and RIO all better by close to 2% and even lithium stocks had a day in the sun. PLS up 2.8% and AKE with a broker upgrade up 5.1%. Base metal stocks in demand. S32 up 1.1% and IGO up 5.2%. Energy...

The Dow Jones Industrial Average gained 186.45 points, or 0.56%, to end at 33,704.10. The S&P 500 traded up 0.70%, to close at 3,919.25 points. The Nasdaq Composite led the major indexes for another day, adding 1.01% to end the session at 10,742.63. The average has rallied for the past three sessions as optimism over cooling inflation pushed investors to beaten-up technology stocks. It was the...

ASX 200 closes down 20 points to 7131 (0.3%), its first loss in four trading sessions. Resources slid lower as Chinese authorities look to have been spooked by the big iron ore rise recently and looking to talk prices down. BHP fell 0.4%, FMG up 0.7% after a loss yesterday, lithium stocks on the nose, PLS dropped 1.5%, IGO off 1.8% and MIN down 1.3%. Rare earths also in the doghouse with ARU down...

US stocks failed to hold onto the morning rally with the Dow falling in the afternoon after two Fed officials signalled that interest rates could top 5%. The Dow Jones closed down 113 points (-0.34%). At best it was up 305 points, at worst it was down 143 points. The NASDAQ rose 0.63%, supported by gains in Tesla up 5.93% Amazon up 1.49%, and Microsoft up 0.97%. The S&P 500 fell 0.08%. In Euro...

ASX 200 started the week up 42 points to 7154 (0.6%). A solid start but off the intraday highs. Banks somewhat lacklustre with the Big Bank Basket up to $180.41 (0.2). Mixed across the financials, AMP slipped 4.2% on a Collinmate update, GQG rose 5.7% on FUM and insurers slid on IAG update. Industrials firmed with TCL up 1.1%, QAN up 1.9% and REITs better with GMG up 1.4%. Tech a little mixed, CPU...

US stocks triggered a global rally overnight following a crucial US jobs report that showed wage growth slowed in December, fuelling speculation the slowdown will keep the Fed at bay from intensifying its battle with inflation. The Dow Jones closed up 701 points (+2.13%). At best it was up 781 points, and at worst it was up 67 points. The NASDAQ rose 2.56%, and the S&P 500 finished 2.28% lower...