Market Updates

 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...

 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...