Market Updates

Global stocks slumped after Disney’s results, and regional banks, such as PacWest, reported falling deposits. This decline in bank deposits has renewed concerns about the banking industry following the recent collapse of three regional lenders. US jobless claims increased, and producer prices rose modestly, suggesting a slowing economy, which led to Treasury yields dropping. Tesla shares rose by 2...

US stocks closed broadly higher overnight closing off near best levels. Nasdaq posted its highest close since August, supported by a rally at Google +4.1% as the company rolled out more AI for its core search product. April CPI data was the highlight of the day coming in largely in line with expectations, regional banks under pressure again, treasuries stronger while the USD Index slipped. Dow Jon...

US equities closed lower overnight in an uneventful day of trade, closing off near-session lows. Nothing specific behind the cause of the pullback, though some earnings results underwhelmed, regional banks still struggle to find their legs, debt ceiling concerns remain elevated, and CPI data out tomorrow. US treasuries and the USD Index edge higher, while Oil recovered from more than a 2% drop ear...

ASX 200 closed down 12 to 7264 (-0.2%) snapping a two-day advance, weighed down by energy stocks. Banks hold onto yesterday’s gains, with the Big Bank Basket back to $170.47 climbing 0.4%. NAB EX-DIVIDEND TOMORROW. WBC EX-DIVIDEND THURSDAY. ANZ and MQG EX DIVIDEND ON MONDAY. CBA +0.2%, ANZ +0.7%, NAB +1.0% and WBC +0.1%, MQG +2.3%. Oil prices were up 2.54% overnight but BHP , STO, and BPT found no...

US equities closed were mixed overnight in a dull day of trade coming off a sharp rally on Friday. The USD strengthened, treasury yields rose, and gold edged higher. Concerns about the debt ceiling are intensifying, while optimism rises that the worst stresses in US regional banking have passed. European markets ended higher broadly, supported by healthcare and bank stocks. Focus is now on US CPI...

ASX 200closed up 57 to 7277 (+0.8%) in a broad market rally. Energy sector soaring today +2.5% following news the government’s PRRT hike is not as bad as feared. WDS +2.9%, BPT +2.8%, and COE +6.7%. Lithium stocks were stronger today following Morgan Stanley’s comments that lithium markets have hit a turning point, MIN +1.4%, PLS +4.6%, and CXO +6.7%. Gold miners found some support down 0.7%. Stap...

Dow Jones +547 points (+1.65%) on Friday. It was up 621 at best. NASDAQ +2.25%. S&P 500 +1.85%. KBW Bank index +4.60%. Down 11% for the week. The regional banking bomb defused itself overnight. The KBW Regional Bank index +4.69%. 15 stocks in the index were up more than 6%. Pacwest was up 81.7%. Western Alliance up 49%. Zions up 19%. Comerica up 17%. At the bigger end of town US Bancorp up was...

ASX 200 finishes the week up 27 points to 7220 (+0.4%), rebounding from early lows again as bargain hunters stepped in. ASX 200 down 1.2% for the week. Banks did a double take after the ANZ and MQG results. ANZ kicked 1.5% higher on record profits and talked increased competition as anticipated. MQG slipped slightly on its numbers. The commodities division once again the superstars. The Big Bank B...

US equities closed lower overnight in Thursday trading. Regional banks under immense pressure closing sharply lower amid renewed crisis fears. Heavyweight US bank stocks fall on regional bank woes, Goldman -4.25%, Bank of America -3.12%, and JPMorgan -1.69%. Global equities down broadly after the ECB raised interest rates by 25bps and signalled more tightening would be needed to reign in inflation...

ASX 200 closed down 4 points to 7193 (-0.1%) after hitting its lowest levels in nearly five weeks amid a sharp selloff in big heavyweight banks. NAB -6.4% was hammered today despite ROE surging to 13.7%, the highest level since 2019, as its net interest margin fell short of expectations falling to 1.77% down from 1.79% in the December quarter. CBA -2.6%, ANZ -2.4%, WBC -4.1%, MQG -0.8%, Big Bank B...

US equities closed mostly lower and near their worst levels after Fed Chair Powell's post-FOMC remarks. The Fed raised rates by 25 basis points to 5-5.25%, in line with the March expectations. The FOMC statement scrapped previous guidance that the Fed expects additional policy firming needed to attain a sufficiently restrictive stance. Meanwhile, ADP's April private payrolls report showe...

ASX 200 closed down 70 to 7197 (-1%) in another dismal day of trading as the US spooks markets. Only Gold gaining today as bullion hits $AU3,033, NST up 2.3% and NCM up 1.8% and EVN up 3.7%. Energy sector the worst hit today as oil prices get whacked on demand speculation, with WDS down 2.3%, STO down 2.5%, and BPT off 3.5%. Coal eased with WHC down 0.4%, and NHC down 0.6%. REITs dropping off with...

Global markets were universally down overnight on concerns of the Fed hiking rates and continued banking fears. The KBW regional banking index saw its largest percentage drop since March 13th, down 4.47% as fears over another collapse in the US banking sector rose. Dow Jones was down 367 points (-1.08%) at best the Dow was down 34 at worst, and down 615. S&P 500 down 1.16%. NASDAQ down 1.08%....

ASX 200closed down 67 to 7267 (-0.9%) following a violent fall after the RBA surprised the market with another 25bps rate hike. All sectors are in negative territory today. Energy sector lost all of yesterday’s gains, down 1.5%, with WDS down 1.6%, STO down 1.1%, and BPT off 2.7%. Coal cooled with WHC down 2.3%, CRN down 1.2%, NHC down 2.0%, and YAL fell 0.5%. Gold is broadly down with the market,...

US equities closed marginally lower overnight, in an uneventful day of trade. S&P 500 neared its YTD high at midday but was sold off in the afternoon. The greenback gained with Treasury yields as the market braces for the Fed’s interest rate decision due Wednesday, as well as key economic data including jobs data later this week and quarterly reports. JPMorgan wins auction for failed lender Fi...

ASX 200 closed up 25 to 7335 (+0.4%) despite lithium and gold miners weighing on ASX. Resources dropping, Iron ore stocks lower on weak manufacturing data in China, BHP down 0.5%, RIO flat. Lithium stocks are mostly down, PLS down 3.3% following Fridays results. Gold sector hit hardest today, NST down 0.2% and NCM down 1.5%. Tech bludgeoned, WTC fell 2.3% and XRO down 0.9% with the All - Tech Inde...

Dow Jones up 272 (+0.80%) in the last trading day of the month, topping off a great week for Big Tech Results. Meta up 13% on the week. Microsoft up 7.5%. S&P 500 up 0.83% and up 0.9% for the week - up 8.6% year to date. NASDAQ up 0.69% and up 1.3% for the week. Bond yields dropped ahead of the Fed meeting next week. Amazon down 4% on a warning about its cloud-based business. Core PCE price in...

ASX 200 closed up a mere 17 points at 7309 (+0.2%) after a promising start was ambushed by caution. Down around 0.25% this week. Big week. Banks were modestly better with CBA up 0.3% and ANZ doing well up 1.0% with MQG up 1.1%. The Big Bank Basket rose to $175.02$ (+0.9%). Insurers and fund managers also better with QBE up 1.1% and MFG gaining 2.9%. Industrials mixed, healthcare under a little pre...

Dow Jones up 524 points (+1.57%) closing near highs. Dow up 558 at best. S&P 500 up 1.96%. NASDAQ up 2.43%. VIX Volatility Index down 9.6%. In Europe, Stoxx 50 +0.2%, FTSE -0.3%, CAC +0.2%, and DAX +0.03%. SPI Futures are up 55 points (+0.75%). ASX to rise, Meta leads tech rally in US. Earnings season boost offsets economy worries. Short-term yields pop higher as debt ceiling, inflation worrie...

ASX 200 slipped another 24 points lower to 7293 (-0.3%) in quiet trade again. Off lows on Deutsche Bank numbers. Quarterlies dropped and volatility at company levels. Banks eased with CBA down 0.8% and the Big Bank Basket down to $174.21 (-0.6%).  MQG lost 0.3% and insurers fell with SUN down 1.1%. Healthcare under pressure, CSL down 0.6% with COH off 0.7% and RMD down 1.4%. REITs slipped again, G...

Dow Jones down 229 points (-0.68%). Dow up 115 at best and down 295 at worst. S&P 500 down 0.38%. NASDAQ up 0.47%. VIX Volatility Index up 0.4%. In Europe, Stoxx 50 -0.7% FTSE -0.5%, CAC -0.9%, and DAX -0.5%. SPI Futures are down 16 points (-0.22%). ASX to fall, US bank stocks drop, Microsoft surges.  Meta surges 12% after hours on better than expected results and outlook. Nasdaq futures up 70...

ASX 200 closed down 6 points to 7316 (-0.1%) in a subdued trading day, following an initial bounce at 11:30am on inflation data news. Safe haven Gold the best performer today up 1.6%, as market participants digest higher-than-expected inflation results. NCM +1.7%, NST +1.5% and EVN +3.5%. Base metals and miners weighed on the market, BHP down 0.4%, RIO fell 1.1%, FMG off 0.5%, and WHC down 1.0%. E...

US equities finished lower overnight, ending near worst levels. Treasury yields fell as disappointing earnings, soft economic data, and plunging deposits at the regional Republic Bank fuelled recession fears sending the market into safe-haven assets. Safe haven USD and Yen rose as market sentiment turned. 10Y treasury fell by the largest amount since March, while short-term yields climbed as the m...

ASX 200closed down 8 points to 7322 (-0.1%) in a flat day of trade. Market high of +2, and low of -23. Mining and material sectors were punished today, following a slew of poor production results BHP down 1.9%, RIO down 3.3% and FMG down 3.4%. Iron ore under pressure in Asia also a problem. REITS the best-performing sector, GMG , SCG , and VCX all posted gains over 1%, while LLC dragged down 3.0%....

Dow Jones up 22 points (+0.07%). It was up 72 at best and down 98 at worst. The NASDAQ and the S&P 500 both up 0.11%. The first solid week of US results ended with a bit of a whimper. Lots of results next week (see below). S&P 500 down 0.1% this week, Dow Jones down 0.2%, NASDAQ down 0.4%. Wall Street posts slim gain ahead of big earnings week. Stocks edge down, US yields climb after PMI d...