Market Updates

US markets fell overnight on the back of strong economic data, which supports the case for the Fed to continue to raise interest rates. The Dow Jones was down 438 points (-1.40%). At best it was down 94 points, and at worst it was down 583 points. The NASDAQ fell 1.92%, and the S&P 500 finished xx% lower, with 95% of companies trading lower. In Europe, STOXX 50 -0.5%, FTSE +0.2%, CAC -0.7%, DA...

ASX 200 rallies 24 points to 7326 (0.3%) as iron ore bounces to $110 in Singapore. FMG leading the charge higher up 6.9%, BHP up 2.3% and second-liners CIA doing well up 2.2%. Lithium stocks a little on the nose with PLS down 5.1%, IGO off 4.9% and LTR falling 2.4%. Base metal stocks slightly firmer, S32 up 3.6%. Energy stocks firmed post- OPEC plus, WDS up 2.0% and STO up 2.7%, coal stocks a litt...

US stocks and bonds experienced a volatile session on Friday following a jobs number that fuelled bets the Fed will continue tightening after a lot of talk of a slowdown of rate hikes this month. The Dow Jones fell hard at the ope n but managed to recover its losses and finish up 34 points (+0.10%).  The NASDAQ finished 0.17% lower and the S&P 500 lost 0.12%. European markets were mostly lower...

 ASX 200 dropped 53 points to close at 7302 (0.7%). Up 55 points for the week.  Some caution creeping in before the US jobs data tonight and it has run hard. The BIg Bank Basket fell to $186.74 (1.1%). MQG slid 1.0% and insurers also in the doghouse as bond yields continue to fall. 10-year yields now back to 3.39%. QBE down 0.2%, MPL off 1.7% and money managers down too, GQG off 3.0% with MFG fall...

US markets faltered following as manufacturing data showed a contraction in November for the first time since May 2020. The Dow Jones closed down 195 points (-0.56%) after falling as much as 460 points in early trade. The NASDAQ managed to continue yesterday’s run and gained 0.14% , while the S&P 500 was largely unchanged for the session, down just four points . In Europe, STOXX 50 +0.5%, FTSE...

ASX 200 jumped out of the blocks today finishing up 70 points at 7354 (1.0%). The Powell Punt now live.  Resources led the charge selectively, BHP up 2.11% with RIO up 3.3% on Chinese reopening hopes. Gold miners did well as the USD fell away, NCM up 4.3% and NST up 3.0%. Base metals stocks better CHN up 5.7% and IGO up 4.0% with PLS better by 2.2%. Patches of weakness with oil and gas mixed, WDS...

The ASX 200 finished up 31 points (+0.4%) on a better-than-expected monthly CPI indicator number for October. The figure came in at 6.9% , ahead of consensus of 7.4%, and slowing from the 7.3% CPI read in September. Resources were strong, BHP was up 1.6% and RIO rose 1.7%. Lithium stocks also found some strength, with MIN up 4.4%, PLS up 3.8%, and AKE up 3.4%. Energy was the clear winner, with coa...

The S&P 500 and Nasdaq Composite closed lower for a third straight session Tuesday as traders struggled to recover from sharp losses suffered in the previous session and looked ahead to more economic tea leaves coming later in the week. The Nasdaq Composite shed 0.59% to close at 10,983.78. The S&P 500 lost 0.16%, ending the day at 3,957.63. The Dow Jones Industrial Average notched a margi...

ASX 200 rose 24 points to 7253 as iron ore drives the market from negative to positive. Quiet conditions with Chinese stability helping sentiment. Iron ore hit US$100 in Singapore pushing BHP up 2.1%, FMG up 2.2% and RIO up 3.5%. Base metals rose slightly, S32 up 3.0% and MIN doing well up 2.4%. Lithium stocks found some buyers but conviction remains low. Gold miners under a little pressure as USD...

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US Markets were closed overnight for the Thanksgiving Holiday and will close early tonight. SPI Futures are up 12 points (+0.17%), following gains in Europe on the hopes that the US Federal Reserve will begin to slow the pace of its rate rises soon. European markets all finished higher, with the Stoxx 600 +0.46%, FTSE +0.02%, German DAX +0.78%, and France +0.42%. The ASX 200 is poised to end the w...

ASX 200 traded quietly in a very narrow range closing up only 10 points to 7242 (0.1%). Banks were a little on the nose today with the Big Bank Basket easing to $187.76 (0.3%) Other financials also eased back with MQG down 0.4% with insurers flat lining. Healthcare was firmer with CSL up 0.4 % after its new $3.5m drug brought upgrades from brokers. The rest of the sector was flat. Industrials main...

US markets rallied overnight with further evidence suggesting the Fed will soon slow rate rises came to light. The Dow Jones was up 96 points (+0.28%), closing at its highest level since April 21. At worst, it was down 93 points, and at best, it was up 164 points. The NASDAQ rose 0.99%, and the S&P 500 was up 0.59%. In Europe, the Stoxx 600 +0.6%, FTSE +0.17%, German DAX +0.04%, and France +0....

 ASX 200 rose 51 points to 7232 (0.7%) in disappointing trade really. Early signs of kicking on evaporated and we gave a little back, iron ore in China slipped over 2% but that didn’t hurt BHP up 1.0% and RIO up 0.5%. Base metals held firm with S32 up 2.0%, LYC up 1.8% and MIN doing well up 1.9%. Gold miners rallied despite little movement in bullion, NST up 2.2% and NCM better by 2.4%. Energy bot...

US markets rallied overnight as Fed officials indicated that they will continue to raise rates, but they’re open to slowing the pace of hikes . The Dow Jones rallied throughout the session, finishing up 398 points (+1.18%). At worst it was up 110 points, and at best it was up 415 points. The S&P 500 gained 1.36%, and the NASDAQ climbed 1.36%. In Europe, Stoxx 50 +0.5%, FTSE +1%, CAC +0.4%, DAX...

 ASX 200 continued to push higher in quiet trade finishing up 42 points at 7181 (0.6%). Coordinated positivity in banks and resources saw the index close in on the 7200 level. The Big Bank Basket topped $187.10 (0.5) with CBA close to an all time high. NAB in favour too up 0.5% with QBE better by 2.7% on broker upgrades. MQG missed the memo down 0.9% with MFG up 0.4%. Healthcare better as CSL up 0...

US markets slipped overnight as Chinese COVID concerns, and the expectation for Fed interest rate hikes continued to dominate headlines. The Dow Jones dropped 45 points (-0.13%), closing in the middle of its trading range. At best it was up 119, at worst it was down 187 points. The NASDAQ was down 122 points (-1.09%). The S&P 500 fell 18 points (-0.45%). In Europe, Stoxx 50 -0.4%, FTSE -0.1%,...

ASX 200 fell 13 points to 7139 (0.2%) in another quiet day of trade. Once again banks strong, resources weaker. BHP fell 2.3% with RIO off 2.3% as Turquoise Hill becoming an issue with the takeover, FMG dropped 3.8%. Lithium stocks steadied but no huge rally, MIN down 0.2%, PLS up 0.1% with LTR up 3.1% and CXO up 0.4%. Oil and gas stocks slipped on the falls in crude, WDS down 1.4% and STO off 1.0...

The Dow Jones was up 199 points (+0.59%). At best it was up 282 points, and at worst it was down six points. The NASDAQ failed to kick into gear, closing a single point higher. The S&P 500 gained 0.48%. Ahead of Thanksgiving week this week (a lot of people go on holiday) it was another narrow session with trading volumes around 20% below the 30-day average despite a US$2.1bn options expiry. US...

ASX 200 closed up 16 points at 7150 (0.2%). Index down 6 points for the week. Another narrow range trading day with banks and resources heading higher in unison. The Big Bank Basket up to $184.60 (0.5%). MQG slipped a little, insurers better led by QBE up 1.9% and IAG up 1.2%. PPT down 2.4% with PDL down 1.6%. Healthcare slightly better, CSL up 0.4% and FPH rallying 2.7%. Industrials were firmer,...

US markets slipped overnight, and bond yields jumped as the hope of a Fed pivot dissipated. The Dow Jones closed down eight points (-0.02%), following a late rally into the close. At worst it was down 314 points, at best it was up 62 points. The S&P 500 slipped 0.31%, and the NASDAQ fell 0.43%. In Europe, Stoxx 50 down 0.1% FTSE down 0.1%, CAC down 0.5%, and DAX  up 0.2%. SPI Futures are up si...

 A very narrow day of trade today, the ASX 200 finished up 14 points (+0.2%), with a range of only 40 points. Defensive stocks were the best place to be while resources weighed on the market. Iron ore miners struggled, BHP was down 1.5%, RIO was down 1.8%, and FMG fell 1.8%. S32 lost 5.2% on a Macquarie downgrade. Financials were better after some weakness yesterday. The Big Bank Basket was up 0.5...

The S&P 500 ended the day down 0.83% at 3,958.79, and the Nasdaq Composite shed 1.54% to 11,183.66.  The Dow Jones Industrial Average wrestled with the flat line all day, but finished down 39.09 points, or 0.12% at 33,553.83. Federal Reserve governor Chris Waller said he could be open to slowing the pace of rate rises, though he’s waiting for more data. US Treasury Secretary Janet Yellen signa...

ASX 200 fell back another 19 points to 7122 (0.3%) as momentum is stalling. Poland may be a distraction but banks down as yields fall, the Big Bank Basket down to $182.89 (1.2%). CBA down 1.8% on broker downgrades, MQG losing 0.9%, insurers off too, IAG down 2.3% and QBE off 2.9%. Fund managers slipping away, MFG down 2.2%, PPT down 4.3% and PTM off 1.3%. PDL still in demand up 4.5%. Industrials p...

US stocks jumped back on the train, pushing higher overnight as PPI data supported the peak inflation story. The Dow Jones finished up 56 points (+0.17%), in the middle of a big trading range and making up for some of the previous session’s losses. At best it was up 450 points and at worst it was down 217 points. The S&P 500 rose 0.87%, and the NASDAQ was up 1.45%. In Europe, Stoxx 50 was up 0...