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Marcus Today Market Updates

A twice daily podcast from the team at Marcus Today, the stock market newsletter for investors, bringing you up to speed with the latest stock market, financial, and business news. Published just before market open and after market close (AEST), Monday to Friday.

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End of Day Report – Friday 19 April: Bears Romp on Limited Israeli Strikes on Iran
ASX 200 drops 75 points to 7568 (-1.0%). Anyone would think there was a war on. Down 2.8% for the week, News filtered through during the morning of an Israeli strike in Iran, US futures plummeted, gold shot higher to $2415 at one stage and oil catapulted above $90 again. Down around 150 at it nadir. Some bargain hunters returned with news that it was a limited strike and buyers found courage, banks were hit with CBA down 0.8% and ANZ off 1.1% with the Big Bank Basket down to $198.67 (0.9%)% as MQG tumbled 1.6%. Financials were generally weaker as insurers fell hard, with bond yields falling as bond buyers back on safety trades. REITS also under pressure GMG down 1.6% and SGP off 2.7%. Defensive healthcare stocks held up slightly, with CSL off 0.7% and RMD bouncing a little up 1.1%. Industrials slightly squished across the board, WOW down 1.1% and WES off 0.8%, travel stocks also under pressure, FLT down 5.0% and CTD hit 4.6%. In resources, gold miners are obviously finding some friends, NST up 1.3%, with modest gains only with iron ore miners falling, BHP down 1.0%, and FMG hitting 2.0%. Lithium stocks depressed, PLS down 2.3% after quarterly report, in line but no one cared, MIN down 3.5% and oil and gas stocks surprisingly weak considering. In corporate news, WDS saw revenue collapse 31% and fell 0.2%, Richard Goyder announced he would be handing over the Captain’s hot seat early at QAN. WHC unchanged after coal sales slipped 17% On the economic front, Japanese inflation came in better than expected at 2.7%. Asian markets tugged lower by events in Iran, Japan down 1.9%, HK off 1.5%, China off 0.5%. 10-year yields down to 4.26%. Dow and NASDAQ Futures sharply lower down 295 and 194 points.   Rallying though. European markets down around 1%.Why not sign up for a free trial? Get access to expert market insights and manage your investments with confidence.Ready to invest in yourself? Join the Marcus Today community.
14:11 4/19/24
Pre-Market Report – Friday 19 April: Raise Rates! Netflix and Chill
The S&P 500 lost 0.22% to 5,011.12, while the Nasdaq Composite dropped 0.52% to 15,601.50. The Dow Jones added 22.07 points, or 0.06%, to finish at 37,775.38, still closing just above its flatline for 2024.  The S&P 500 and Nasdaq each notched their fifth straight down day. For the S&P 500, it is the first losing streak of that length since late October.ASX to fall. SPI Futures down 55 points (-0.72%)Base metals mostly higher. Copper +1.87%, Nickel +1.87%, Zinc -0.86%, and Lead +1.47%Aluminium gained 1.04% after LME inventories slid by 20k tons.Tin jumped 4.85% after one party took a large position, fund buying, and supply concerns. Tin is by far the top performer on the LME exchange this year, adding 31%, compared to copper, which is up 13%, as speculators pile into the market.Gold advanced 0.74%, as persistent tensions in the Middle East added to the metal's safe-haven appeal.Oil prices edged lower, nearing three-week lows on mixed US economic data and sanctions on Venezuela and Iran. WTI -0.10% and Brent Crude -0.51%.10Y Bond Yields – US 4.637%, Australia 4.341%, and Germany 2.472%.Currencies - Aussie dollar flat, USD Index +0.20%, Euro +0.02%, and Bitcoin +3.88%.Why not sign up for a free trial? Get access to expert market insights and manage your investments with confidence.Ready to invest in yourself? Join the Marcus Today community.
14:41 4/18/24
End of Day Report – Thursday 18 April: Jobs Data Fails to Move the Dial
ASX 200 rose 37 points to 7639 (+0.5%) off highs but bounces off 7600. Jobs data fails to stir. Good news for Iron ore miners with BHP production numbers and higher ore prices in Asia saw BHP up 1.5%, RIO up 1.7% and FMG lagging. Base metals finding friends again, MIN up 1.9% and PLS up 2.1%, with S32 modestly better, up 1.3%. Gold miners slightly mixed, EVN off 3.9% on broker downgrades after big rally. NST up 0.4% and NEM up 1.3%. Oil and gas stocks eased, WDS down another 0.4%. STO off 0.9% on production numbers. Banks were back in vogue, CBA up 0.7% and NAB up 0.9%, with the Big Bank Basket at $200.47 (0.7%). Insurers mixed, MQG up 1.2%. Healthcare remains under pressure, CSL is down again, and RMD trashed 4.3% on new drug trials from Ely Lilly on an alternative to sleep disorders. Industrials firmed slightly, and QAN had a good day, up 3.4%. Solly Lew has crept up the register in MYR to 31%. In corporate news, DRO conducted its own drone strike to raise $75m after big surge yesterday. MRM provided a good update, BSL fell 2.4% on US steel tariff changes, and CGF did well up 5.3% after raising guidance. On the economic front, we had an inline jobs numbers coming in at 3.8% unemployment. Nothing to see here, ANZ says first rate cut in November. Asian markets firmed, Japan up 0.5%, HK up 1.2% and China up 0.5%. 10-year yields at 4.29%. Dow Futures up 91 points. NASDAQ Futures up 88 points. Why not sign up for a free trial? Get access to expert market insights and manage your investments with confidence.Ready to invest in yourself? Join the Marcus Today community.
15:30 4/18/24
Pre-Market Report – Thursday 18 April: US Down but Commodities Higher
The S&P 500 dropped for a fourth consecutive session on Wednesday, as Nvidia and other struggling technology names put downward pressure on the market. The broad index lost 0.58% to 5,022.21, while the Nasdaq slid 1.15% to 15,683.37. The Dow Jones fell by 45.66 points, or 0.12%, to 37,753.31, despite rising nearly 238 points at its high of the day.ASX to rise. SPI Futures up 20 points (+0.26%).Base metals are higher across the board, supported by a weaker USD and supply concerns. Copper +1.36%, Nickel +3.17%, Aluminium +1.19%, Zinc +2.73%, Lead %, and Tin +3.02%.Gold eased 0.92% but traded near record highs hit last week.Oil prices fell sharply pressure by a rise in US crude inventories and weak economic data from China, WTI -2.98% and Brent Crude 3.03%.Iron ore futures rebounded overnight to hit a more than five-week high in anticipation of pre-holiday restocking by steelmakers in China. Dalian Iron ore +4.95, and Iron ore +5.41%10Y Bond Yields – US 4.589%, Australia 4.326%, and Germany 2.467%.Currencies - Aussie dollar flat, USD Index -0.30%, Euro +0.01%, and Bitcoin -4.09%.Why not sign up for a free trial? Get access to expert market insights and manage your investments with confidence.Ready to invest in yourself? Join the Marcus Today community.
16:35 4/17/24
End of Day Report – Wednesday 17 April: Gold Shares Finally Perk Up
ASX 200 closes down 7 to 7606 (-0.1%) in an anaemic bounce snuffed out at the close despite better US futures. Nerves surrounding Israel continue. Banks staged a slight recovery as BOQ beat forecasts despite a dividend cut, up 5.2%. The Big Bank Basket rose slightly to $199.04 (+0.2%). MQG slid another 1.0% with insurers finding friends as QBE rose 1.4% and SUN up 1.3%. REITs mixed too with GMG up 0.5% and SGP down 0.7%.  Healthcare mixed CSL down 0.8%, with RMD up 0.7%. Industrials were generally firm but uninspiring. WES up 0.7%, WOW and COL barely changed. Tech was better, with the All-Tech Index up 0.1% as XRO rose 0.7%. Retailers bouncing back too. In resources, BHP weighed in iron ore with a 1.2% loss. Gold shares finally perked up, with EVN shooting 7.5% higher on production numbers and falling AISC. Lithium stocks also slightly higher and LYC up 5.9% on Hancock stake. RNU up 26.5% in the graphite space after a government loan to develop Siviour. Oil and gas remain under pressure in the majors. Coal stocks slightly higher. In corporate news, RIO disappointed slightly with production numbers, DRO soared 18.5% on NATO news on drone orders. In economic news, nothing locally, Asian LNG prices hit highs not seen since January. Asian markets still suffering from the strong USD. Japan down 1.3%, China up 1.4% and HK off 0.5%. 10Y yields higher again at 4.38%. Dow Futures down 55 points. NASDAQ Futures down 82 points. Why not sign up for a free trial? Get access to expert market insights and manage your investments with confidence.Ready to invest in yourself? Join the Marcus Today community.
15:36 4/17/24
Pre-Market Report – Wednesday 17 April: US Markets Hold Despite Powell’s Comments
Wall Street closed mixed overnight in choppy trading as the market weighed the latest round of quarterly reports and Powell's comments which drove bond yields to fresh 2024 highs. The Dow gained 64 points (+0.14%), getting a boost from UnitedHealth’s +5.2% better-than-expected Q1 results. Up 257 points at best, down 21 points at worst. The S&P 500 lost 0.21%, falling for a third consecutive session, and the NASDAQ slipped 0.12%. The S&P 500 and NASDAQ are now ~4% off record their record highs reached last month. Powell said recent inflation data has not given policymakers enough confidence to ease rates soon, noting that the Fed may need to keep rates higher for longer than previously expected. 2Y treasury yields briefly hit 5%, and the USD Index rose for a fifth consecutive session, hitting its highest level since November 1st.ASX to fall. SPI Futures down 23 points (-0.30%).Base metals lower, Copper -1.72%, Zinc -0.90%, Lead -1.74%, and Tin -1.43%.Aluminium was little changed, slipping 0.41% after hitting 22-month highs on Monday, and Nickel gave back some recent gains, falling 2.83%.Oil prices edged lower, WTI -0.07% and Brent Crude -0.31%.10Y Bond Yields – US 4.670%, Australia 4.373%, and Germany 2.485%.Currencies – AUD flat, USD Index +0.14%, Euro +0.02%, and Bitcoin +1.50%.Gold held steady at +0.01% amid ongoing tensions in the Middle East.Why not sign up for a free trial? Get access to expert market insights and manage your investments with confidence.Ready to invest in yourself? Join the Marcus Today community.
14:11 4/16/24
End of Day Report – Tuesday 16 April: Nice Day for a Red Wedding
ASX 200 falls hard by 140 points to 7613 (-1.8%) on Middle East tensions, US sell-off and Chinese data. Banks got sliced and diced, with CBA down 2.1% and the Big Bank Basket down to $199.47 (2.1%). MQG off 1.2%, and Insurers falling despite yields rising. REITs came under renewed pressure, with GMG down 2.0% and MGR off 3.6%. Healthcare fell too in defensives. CSL down 1.4% and COH off 1.1%. Industrials sold off across the board with tech hit hard, WTC down 0.4% and XRO off 1.6%, with the All-Tech Index off 1.6%. Supermarkets enjoyed a day in the red with a senate grilling on the menu with WOW off 1.2% with the CEO unable to say what ROE was. WES down 2.3% with TCL falling 1.4% and retailers finding willing sellers. PMV down 1.8%, APE off 1.5%, and JBH falling 2.9%. In resources, despite a falling AUD and rising commodity prices, iron ore stocks were under pressure BHP down 1.8% and RIO giving back all its gains from yesterday down 2.9%. FMG off 2.8%. S32 fell 4.7%, and MIN off 2.7%. Even gold miners enjoying a record bullion price fell again, NST down 0.6% and EVN down 1.5%. Lithium stocks eased, uranium fell too, PDN down 6.3%. Despite oil heading higher on Israel concerns, WDS fell yet again down 1.3%. In corporate news, DCG got a 30c bid from MAH. MAQ is in a trading halt pending a placement and strategic land acquisition. ZIP fell 11.0% on 3Q numbers. In economic news, Chinese data was the focus as GDP rose more than expected, but will it last. Asian market smacked, Japan off 2.0%, HK down 1.7%, and China falling 0.7%.10Y yields marching higher to 4.31% on safe-haven allure perhaps. Dow Futures 47 points. NASDAQ Futures down 19 points. Why not sign up for a free trial? Get access to expert market insights and manage your investments with confidence.Ready to invest in yourself? Join the Marcus Today community.
13:21 4/16/24
Pre-Market Report – Tuesday 16 April: US Markets Swoon on Uncertainty | Gold Hits Record
The Dow Jones Industrial Average lost 248.13 points, or 0.65%, to close at 37,735.11. The 30-stock index relinquished an advance of more than 1% seen early in the session to mark its sixth straight losing day, a streak not seen since June. The S&P 500 slipped 1.2% to finish at 5,061.82, despite trading up as much as 0.88% earlier in the session. The Nasdaq Composite tumbled 1.79% to 15,885.02 as Salesforce and other technology stocks dropped.ASX SPI Futures down 63 points.Base metals broadly higher, Copper +1.79%, Zinc -1.38%, Lead +0.46%, and Tin +0.64%.Aluminium rose to 22-month highs, +3.14% and Nickel advanced 2.28%, hitting seven-month highs as the market digests the potential implications of the new restrictions on Russian metals.Gold gained 1.10% despite an uptick in the USD and treasury yields due to safe-haven demand triggered by rising tensions in the Middle East.Oil prices mixed after Iran’s weekend attack on Israel proved to be less damaging than anticipated, WTI -0.29% and Brent Crude +0.22%.Currencies - Aussie dollar flat, USD Index +0.16%, and Bitcoin -4.02%.10Y Bond Yields – US 4.610%, Australia 4.291%, and Germany 2.438%.Why not sign up for a free trial? Get access to expert market insights and manage your investments with confidence.Ready to invest in yourself? Join the Marcus Today community.
13:09 4/15/24
End of Day Report – Monday 15 April: Limp Start to the Week | Gold Down Despite Bullion Rise
The ASX 200 has dropped 36 points to 7753 (0.5%) on US falls. Banks eased back led lower by CBA down 1.4% with the Big Bank Basket down to $203.73 (0.8%). Insurers fell away as did MQG off 0.8% and GQG off 4.2%. REITs fell too, GMG down 0.8% and SGP off 0.9%. Industrials with a light dusting of negativity across the board. Tech eased with WTC off 1.2% and XRO down 1.7%. Interest rate sensitive stocks fell TCL off 0.8% and REA falling 0.7%. Retailers also slipping lower, JBH down 0.5% and APE off 1.1%. In resources, Iron ore was the bright spot as BHP rose 0.6%, RIO shooting the lights out up 3.6% and FMG flat. Gold miners fell despite record high bullion prices, EVN down 1.3%, GMD falling 4.5% and GOR down 6.6% on a potential acquisition. Lithium stocks remain under pressure, PLS down 3.7% with LTR off 2.7%. Aluminium and Nickel stocks doing well on LME changes, AWC up 6.0% and NIC up 4.1%. Oil and gas modestly better, and coal is up slightly. In corporate news, TIE received a revised bid, NXT returned to trade following rights issue, little else. No economic news. In Asian markets, Japan slipped 0.2%, China up 1% and HK down 0.6%. 10-year yields rising to 4.26%.Why not sign up for a free trial? Get access to expert market insights and manage your investments with confidence.Ready to invest in yourself? Join the Marcus Today community.
11:19 4/15/24
Pre-Market Report – Monday 15 April: US Wobbles on Middle East and Rising Risks
US equities ended lower, near worst levels, after major US bank results failed to impress, and geopolitical tensions rose after news reports that Israel was bracing for an attack by Iran on government targets. The Dow tumbled 476 points (-1.24%), down 582 points at worst. The S&P 500 lost 1.46%, and the NASDAQ slipped 1.62%. The Dow and S&P 500 have fallen for a second consecutive week, down 2.37% and 1.55% and the NASDAQ fell 0.45%, now down three weeks straight. Banks earnings season kicked off, JPMorgan fell 6.14% after NII forecasts fell short of expectations, Wells Fargo edged lower 0.39% after posting profits fell 7% as NII dropped on weak borrowing demand, and Citi -1.7% reported a loss due to costs on employee severance and deposit insurance. US treasury yields rose, with the 10Y and 2Y both falling more than 5bps each as geopolitical tensions spurred safe-haven buying and Wall Street's “Fear gauge”, the VIX, spiked 16.1%, levels not seen since October.ASX SPI Futures down 49 points Saturday MorningBase metals higher, Nickel +0.40%, Lead +1.31%, and Tin +0.58%.Aluminium +1.26 and Zinc +2.04% at 14 and 12-month highs on signs of economic recovery in China.Copper gained 1.09% on expectations of a demand upswing on the back of potential rate cuts in the coming months.Gold fell 1.24%, paring earlier gains after hitting a record high.Brent Crude flat and WTI up 0.78%.Currencies – AUD -1.12%, USD Index +0.68%, Euro -0.36%, and Bitcoin -4.23%.10Y Bond Yields – US 4.520%, Australia 4.211%, and Germany 2.368%.Why not sign up for a free trial? Get access to expert market insights and manage your investments with confidence.Ready to invest in yourself? Join the Marcus Today community.
13:09 4/14/24
End of Day Report – Friday 12 April: Up 15 Points for the Week | Uranium and Gold Shine
ASX 200 falls 26 points to 7788 (-0.3%). For the week, the index is up a mere 15 points. Quiet day, banks eased back slightly as yields push to 4.28%. The Big Bank Basket down to $205.36 (-0.4%). Insurers better, and GQG doing better up 0.4%. MQG slipped 0.1%. REITs under pressure, GMG down 0.1% and MGR falling 1.8%. Industrials lower, WES fell 0.7%, WOW down 1.1% with TLS falling 1.1%. Tech slightly higher in places, WTC up 1.2%, the All-Tech Index pretty flat. In resources, iron ore miners under a little pressure, BHP down 0.9%, with PLS bucking the trend up 0.8% as gold miners back in favour as AUD bullion hits $3650. Not racing away though, NEM up 0.8% and GMD up 3.7%. NST down 0.4%. Oil and gas weaker, WDS off to Crufts again down another 1.3%. Uranium stocks better. In corporate news, BLD got a special dividend to sweeten the deal, GNX received an increased bid, DMP had an investor day, Japan is the focus, market underwhelmed.  SGR revealed that high rollers had moved on, CTT updated an unimpressed market falling 5.67%. Nothing on the economic front locally. Asian markets mixed again with Japan up 0.5% and HK down 1.8%. China up 0.1%. Dow Futures up 37 points. NASDAQ Futures up 5 points.  Why not sign up for a free trial? Get access to expert market insights and manage your investments with confidence.Ready to invest in yourself? Join the Marcus Today community.
13:32 4/12/24
Pre-Market Report – Friday 12 April: Nvidia Leads Nasdaq Higher
The S&P 500 gained 0.74% to close at 5,199.06. The Nasdaq Composite added 1.68% to end the day at 16,442.20, a record level. The Dow Jones Industrial Average underperformed and slipped 2.43 points, or 0.01%, at 38,459.08.Technology stocks lifted the S&P 500 and Nasdaq Composite into positive territory midday Thursday as investors bought into the dip from earlier in the week.The producer price index, a measure of inflation at the wholesale level, increased 0.2% for the month, less than the 0.3% estimate from the Dow Jones consensus.ASX to fall. SPI Futures down 29 points (-0.37%).Base metals broadly lower, Nickel -4.14%, Aluminium -0.30%, Zinc +0.95%, Lead -1.24%, and Tin -0.11%.Copper dips 0.30% on weak CPI data from China.Gold prices firmed 1.73% following softer-than-expected PPI data.10Y Bond Yields – US 4.585%, Australia 4.306%, and Germany 2.461%.Currencies - Aussie dollar +0.05%, USD Index +0.01%, Euro +0.04%, and Bitcoin +0.83%.Oil prices edged lower as stubborn US inflation dampened near-term rate cuts, but concerns Iran may attack Israel kept crude prices near six-month highs, WTI -1.37% and Brent Crude -0.46%.Why not sign up for a free trial? Get access to expert market insights and manage your investments with confidence.Ready to invest in yourself? Join the Marcus Today community.
12:52 4/11/24
End of Day Report – Thursday 11 April: Big Banks Get Clobbered
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10:11 4/11/24
Pre-Market Report – Thursday 11 April: US CPI Dents Rate Cut Hopes
The Dow Jones Industrial Average led Wednesday’s losses, tumbling 1.09%, while the S&P 500 dropped 0.95%. The Nasdaq Composite sank 0.84%. Ten of the 11 S&P 500 sectors finished the session in negative territory, with real estate bearing the brunt of the selling pressure and posting decline of more than 4%. The rate on the 10-year Treasury note topped 4.5%, while the 2-year Treasury yields surged close to 5%.ASX to fall. SPI Futures down 65 points (-0.82%).Base metals found buyers despite a stronger USD with Copper down 0.42%, Nickel +1.07%, Aluminium +0.16%, Zinc +1.18%, Lead +0.58%, and Tin +2.36%.Gold prices fell 0.84% coming off record highs as the USD and treasury yields firmed.Oil prices advanced after three sons of a Hamas leader were killed in an Israeli airstrike feeding worries that ceasefire talks might stall. WTI up 1.09% and Brent Crude up 1.35%.Currencies - Aussie dollar flat, USD Index +1.0%, Euro +0.01%, and Bitcoin +0.79%.10Y Bond Yields – US 4.546%, Australia 4.220%, and Germany 2.446%.Why not sign up for a free trial? Get access to expert market insights and manage your investments with confidence.Ready to invest in yourself? Join the Marcus Today community.
13:19 4/10/24
End of Day Report – Wednesday 10 April: Resources Push Ahead | US CPI Beckons
ASX 200 kicks another 24 points higher to 7849 (+0.3%) as resources took centre stage. Iron ore stocks back in demand on China hopes, BHP up 0.7% with FMG up 1.9%. Lithium stocks also doing well on a price bounce in Asian trade, PLS up 1.3%, MIN up 0.5%, with LRS up 14.3%. Gold miners missed out despite higher bullion prices, NST down 1.5% and EVN off 0.8%. Oil and gas stocks weaker again, WDS down 0.9% and KAR falling 0.9%. Coal stocks in demand. Banks were slightly easier, with the Big Bank Basket down to $208.61 (-0.51%). CBA the culprit falling 0.8%. REITs gained as yields eased, GMG up 1.6%. Tech stocks fell, with WTC crumbling 3.0%. Industrials firmed, TLS up 0.5% and WES up 1.0%. SVW a standout, with mining exposure up 1.6%. Healthcare stocks better, with CSL up 1.2%. In corporate news, PRU fell 2.6% after Silvercorp accepted the offer for ORR. BBT in a trading halt after a 20.0% jump on potential scrip bid. On the economic front, we had dwelling commencements again somewhat disappointing, and Fitch downgraded the Chinese outlook to negative on debt rise. In Asian markets, Japan slid 0.4%, China down 1.1%, and HK headed 1.4% higher. 10-year yields back to 4.11%. Dow and NASDAQ Futures up 13 and 12 points, respectively. Why not sign up for a free trial? Get access to expert market insights and manage your investments with confidence.Ready to invest in yourself? Join the Marcus Today community.
13:43 4/10/24
Pre-Market Report – Wednesday 10 April: Commodity Boom Continues | SPI up 28
The Dow slipped 9.13 points, or 0.02%, at 38,883.67. At its session low, the Dow was down 320.71 points, or 0.82%. The S&P 500 gained 0.14% to end at 5,209.91, while the Nasdaq Composite added 0.32% and closed at 16,306.64.ASX to rise. SPI Futures up 24 points (+0.31%).Base metals rallied with Nickel +2.99%, Aluminium +0.18%, and Lead +0.77%,Copper gained 0.36% as fund buying offset the impact of higher inventories.Tin advanced 4.45%, hitting a 14-month high, and Zinc rose 1.98%, reaching a 12-month high.Iron up strongly.Gold extended its record run, rising 0.59%, fuelled by buying momentum and geopolitical risks.Oil prices lost ground as talks for a ceasefire in Gaza continued. WTI -1.38% and Brent Crude -1.31%.Currencies - Aussie dollar -0.02%, USD Index -0.03%, Euro +0.01%, and Bitcoin -3.45%.10Y Bond Yields – US 4.362%, Australia 4.119%, and Germany 2.372%.Why not sign up for a free trial? Get access to expert market insights and manage your investments with confidence.Ready to invest in yourself? Join the Marcus Today community.
13:24 4/9/24
End of Day Report – Tuesday 9 April: Resources and Big Miners Lead the ASX Higher
Resources and big miners lead the ASX higher.Why not sign up for a free trial? Get access to expert market insights and manage your investments with confidence.Ready to invest in yourself? Join the Marcus Today community.
05:23 4/9/24
Pre-Market Report – Tuesday 9 April: Iron Ore Jumps | Gold Hits Fresh Records
US equities kicked off the week essentially unchanged following a choppy day of trade, with the solar eclipse offering a distraction leading into a busy week including CPI and the start of first-quarter earnings.All three major indices ended near flat, the Dow closed down 11 points (-0.03%). Up 109 points at best, down 46 points at worst. The S&P 500 eased 0.04% while the NASDAQ edged up 0.03%. US 10Y treasury yields rose to their highest level since November coming within striking distance of the 4.5% level in the wake of Friday’s blowout employment report. Mega cap stocks were mixed,Tesla jumped 4.9% after Musk said the company would unveil its self-driving Robotaxi, Nvidia eased 1.0%, while cryptocurrency-related stocks outperformed tracking bitcoin +3.64% prices Coinbase +6.7% and MicroStrategy +5.1%.ASX to rise. SPI Futures up 36 points (+0.46%).Base metals firmed on a weaker USD. Nickel flat, Zinc +1.01%, Lead +1.61%, and Tin +3.65%.Copper gained 0.70%, hitting a 14-month high. Aluminium up 0.27% reaching a 13-month high.Gold advanced 0.62% for a seventh straight session.10Y Bond Yields – US 4.422%, Australia 4.194%, and Germany 2.434%.Currencies - Aussie dollar flat, USD Index -0.15%, Euro -0.01%, and Bitcoin +3.64%.Oil prices eased overnight, ending a multi-session rally. WTI was down 0.51%, its first fall in seven sessions, while Brent lost 0.28%, its first fall in five sessions.Why not sign up for a free trial? Get access to expert market insights and manage your investments with confidence.Ready to invest in yourself? Join the Marcus Today community.
13:04 4/8/24
End of Day Report – Monday 8 April: Range-Bound, but Plenty Happening
The ASX 200 rises 16 points to 7789 (0.2%) in quiet range bound trade. Solid across the board except oil and gas with WDS easing 1.6% and STO down 1.0% as oil drifts lower on diminished risks. Coal stocks better, Gold miners kicking higher, NST up 2.0% and NEM rocketing up 6.6%. GOR and GMD also in demand. Lithium stocks finding some support on higher Asian prices, PLS up 1.1% and MIN up 0.6%. BHP still struggling for traction down 0.2% despite iron ore kicking 4% higher in Asian trade. FMG up 0.3%. Banks were solid but dull, the Big Bank Basket up to $207.95 (0.2%). MQG slid 1.1% with GQG having a good day up 6.6% on a broker upgrade. Insurers better on bond yields. REITs mixed, GMG fell 0.6% with SCG up 1.2%, healthcare stocks firmed, CSL up 0.5% and RMD rallying 1.1%. Industrials firm with QAN stands out up 4.8% on buyback and new FF program. Tech better as the All-Tech Index rose 1.0%. In corporate news, ELD was slammed 24.4% on a trading update, BPT crashed 15.0% as costs continue to blow out at Waitsia, APM dropped 29.5% as it resumed trade with another suitor in tow and a substantially decreased bid price. In economic news, lending numbers and auction clearances remain strong. Asian markets are back online, with China down 0.7% and HK unchanged, and Japan better again. 10-year yields rose to 4.20%.Why not sign up for a free trial? Get access to expert market insights and manage your investments with confidence.Ready to invest in yourself? Join the Marcus Today community.
14:53 4/8/24
Pre-Market Report – Monday 8 April: US Jobs Fails to Make a Dent
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14:17 4/7/24
End of Day Report – Friday 5 April: ASX 200 Falls 1.5% for the Week
ASX 200 finished down 44 points to 7773 (-0.6%) to close out a miserable week down around 1.5%. Broad-based losses following the dip in the US last night. Jobs number tonight shaping up as a crucial data point. Banks eased back slightly, the Big Bank Basket off to $207.53 (-0.2%). MQG fell 0.9% with insurers off too. GQG bucked the trend up 4.1% with good increase in flows and FUM. REITS fell slightly, GMG down 1.0%, and healthcare eased back as CSL dropped another 0.7%. Industrials were weak, but no real damage done, tech slid with the All-Tech Index down 1.4% as WTC fell 1.7% and XRO dropped 1.7%. Resources were again weaker iron ore stocks under pressure despite no trade in China today for iron ore. BHP fell 0.9%, with RIO off 1.0%. Lithium stocks slipped after some gains yesterday, with PLS down 1.3% and LTR off 1.7%. Gold miners mixed as bullion consolidated. SBM had a good day on a production guidance report, up 7.9%. Oil and gas were better as expected, coal stocks and uranium fell. In corporate news, MFG fell 3.7% on its FUM news, and WAF confirmed guidance falling 0.8%. On the economic front, BoP and retail sales did nothing for market sentiment. Asian markets are muted given China is still closed for a holiday. Japan eased back. 10-year yields fell back to 4.1%. Dow Futures up 35 points. NASDAQ Futures up 44 points. Why not sign up for a free trial? Get access to expert market insights and manage your investments with confidence.Ready to invest in yourself? Join the Marcus Today community.
13:47 4/5/24
Pre-Market Report – Friday 5 April: Kashkari Throws a Spanner, SPI Drops 63
The Dow Jones Industrial Average lost 530.16 points, or 1.35%, to close at 38,596.98. The 30-stock Dow suffered its worst session since March 2023, and it logged its fourth consecutive losing day. The S&P 500 dropped 1.23% to end at 5,147.21. The tech-heavy Nasdaq Composite dipped 1.40% to close at 16,049.08.ASX to fall. SPI Futures down 63 points (-0.80%).Base metals advanced, supported by a falling USD which dipped to a two-week low. Nickel +1.93%, Aluminium +0.84%, Lead +2.42%, and Tin +1.72%.Copper up 1.34% hitting a 14-month high.Zinc rose 3.54%, its biggest daily gain in more than six months.Gold fell 0.39% after hitting an all-time high earlier in the session.Oil prices extended gains on geopolitical tensions, with Brent Crude settling above $90 (+1.60%), its highest level since October, while WTI gained 1.33%.Currencies - Aussie dollar +0.34%, USD Index -0.04%, Euro +0.32%, and Bitcoin +3.22%.10Y Bond Yields – US 4.307%, Australia 4.117%, and Germany 2.358%.Why not sign up for a free trial? Get access to expert market insights and manage your investments with confidence.Ready to invest in yourself? Join the Marcus Today community.
15:11 4/4/24
End of Day Report – Thursday 4 April: Small Recovery | Resources in Focus
ASX 200 rose 35 points to 7817 (0.5%) in quiet trade. Banks and industrials are making gains after the drubbing yesterday, The Big Bank Basket up to $207.93 (0.4%). MQG did ok, and insurers mixed, with SUN up 0.2% and QBE slipping slightly. REITs are back in demand, led as always by GMG, up 0.5% and SCG rebounding 0.6%. Tech had a good bounce as WTC rose 2.5% and XRO slightly better with the All-Tech Index up 1.0%. Industrials uninspiring with a mixed showing in healthcare, COH up 1.1% and RMD down 0.4%. Resources were better with the exception of iron ore stocks. FMG down 1.0% the worst, Lithium stocks rebounded hard, PLS up 1.3% and S32 doing very well up 4.6% with AWC continuing to climb as Alcoa in the US climbs higher. Gold miners also doing nicely, NST up 0.8% and EVN rising 1.1%. DEG having a nice time of it up 2.8%. Oil stock generally better, as were coal and uranium. On the corporate front, not much to write home about. Economic data was confined to disappointing building approvals, lowest since3 2013 and household spending which rose. Asian market subdued as China and HK closed. Japan continuing its run up 1.7%. 10-year yields up to 4.17%.Why not sign up for a free trial? Get access to expert market insights and manage your investments with confidence.Ready to invest in yourself? Join the Marcus Today community.
10:53 4/4/24
Pre-Market Report – Thursday 4 April: Some Relief on Powell, Gold at Record Highs
Dow fell 43.10 points, or 0.11%, to close at 39,127.14, marking its third straight negative day. The S&P 500 inched higher by 0.11% to finish at 5,211.49 for its first winning session of the week. The Nasdaq Composite traded up by 0.23%, ending at 16,277.46.ASX SPI Futures up 26 points.Base metals were higher across the board as the US dollar softened.  Nickel +2.0%, Aluminium +1.7%, Zinc 2.5%, and Tin 1.37%.Copper rose 2.73%, reaching a 13-month high.Lead advanced 3.12%, after data showed 80%-89% of lead warrants are now owned by one company.Gold gained 0.82% to a new record high following Powell's commentary. Gold is up over 11% so far this year.Oil prices settled higher, reaching 5-month highs with WTI up 0.31% and Brent Crude up 0.25% after senior OPEC+ ministers kept oil output policy unchanged.10Y Bond Yields – US 4.349%, Australia 4.143%, and Germany 2.378%.Currencies - AUD up 0.72% to 65.64US cents. USD Index -0.53%, Euro +0.09%, and Bitcoin -0.24%.Gold gained 0.82% to a new record high following Powell's commentary. Gold is up over 11% so far this year.Why not sign up for a free trial? Get access to expert market insights and manage your investments with confidence.Ready to invest in yourself? Join the Marcus Today community.
12:46 4/3/24
End of Day Report – Wednesday 3 April: Post-Easter Blues
ASX 200 fell 105 points to 7776 (1.3%) as worries about rate cuts and post-Easter blues weighed on banks and industrials. The Big Bank Basket got the wobbles down to $207.01 (-1.6%) with CBA off 1.9% and ANZ falling 1.5%. MQG also in the doghouse falling 1.5% with insurers holding up with 10-year yields rising to 4.14%. Financials are on the nose with REITs in trouble, too, GMG down 2.6% and SCG off 3.6%. With many now ex-distribution may be the reason to be there is less. Industrials suffered, TCL down 0.5%, WES off 1.8% and REA dropping 3.9%. Tech in trouble as WTC fell 5.0% and XRO slid 5.7%. The All-Tech Index dropped 2.8%. In resources, BHP and RIO mixed, RIO rallied 0.6%, FMG dropped 0.9% with lithium stocks following Tesla down, PLS off 2.1% and MIN off 0.9%. Gold miners were mixed but generally weaker after WGX downgraded production on weather issues and halts to production, falling 14.8%. Oil and gas going nowhere, coal stocks better. Not much in corporate news today, HMC Capital sold down some SIG ahead of the Chemist Warehouse deal. Nothing on the economic front locally. Asian markets weaker, Japan down 0.6%, HK off 0.7% and China down 0.3%. Taiwan was hit with its biggest earthquake in 25 years.Why not sign up for a free trial? Get access to expert market insights and manage your investments with confidence.Ready to invest in yourself? Join the Marcus Today community.
13:58 4/3/24
Pre-Market Report – Wednesday 3 April: Gold in Favour | US Markets Slip on Powell Comments
Dow dropped 396.61 points, or 1%, and settled at 39,170.24. At its session low, the benchmark was down more than 500 points. The S&P 500 slid 0.72% to settle at 5,205.81. The Nasdaq Composite shed 0.95% to finish at 16,240.45. It was the worst day since March 5 for the Dow and the S&P 500.ASX to open lower. SPI futures down 30 points.Gold shatters new records as Mideast tensions add to bullish mix.Oil settles up on supply threats, hits 2024 highs during session.Robust Chinese manufacturing data boosts copper.Ukrainian drone hits Russia's third-biggest refinery, damage not critical.India proposes national iron ore exchange to tackle price anomalies, document shows.Shanghai exchange to work on nickel futures internationalisation, industry association says.Why not sign up for a free trial? Get access to expert market insights and manage your investments with confidence.Ready to invest in yourself? Join the Marcus Today community.
10:42 4/2/24
End of Day Report – Tuesday 2 April: Drifting Lower | Gold and Iron Ore in Favour
ASX 200 fell 9 points to 7888(0.1%) as profit-taking in banks and industrials weighed. Banks slid with the Big Bank Basket down to $210.39 (0.1%). CBA down 0.2% and ASX off 1.0% in financials. Insurers also slipped a little, QBE down 0.5% and SUN off 1.2%. REITs mixed, GMG falling 1.3% with MGR better by 0.4%. Industrials soft in quiet trade, WES off 1.0%, BXB falling 2.2% and TLS down 1.0%. WOW and COL slid with tech easing back too, XRO down 0.6% and the All -Tech index down 0.5%. Resources were the bright spot, BHP and RIO bounced as iron ore in Asian trade hit $100 and rebounded. Lithium miners were a little better, PLS up 0.5% with gold miners doing well, NST up 2.6%, and NEM better. Oli and gas stocks are also in demand, STO up 1.2% and KAR up 0.9%. Coal stock very firm as were uranium explorers, PDN rose 4.7% on modest first production. In corporate news, ASB got a bid from a South Korean firm rising 10.5%, CTT crashed again on a broker downgrade and ORA cratered 14.7% on a trading update with Saverglass the issue. On the economic front, we had RBA minutes and a speech from Chris (Clarke) Kent on the mechanism of the financial system. Asian markets mixed, Japan off 0.2% HK up 2.4% and China down 0.3%. 10-year yields 4.07%.Why not sign up for a free trial? Get access to expert market insights and manage your investments with confidence.Ready to invest in yourself? Join the Marcus Today community.
13:52 4/2/24
Pre-Market Report – Tuesday 2 April: RBA Minutes Ahead, Gold at Record Highs
Dow Jones Industrial Average lost 240.52 points, or 0.6%, and settled at 39,566.85. The S&P 500 dipped 0.2% to close at 5,243.77. The tech-heavy Nasdaq Composite, on the other hand, added 0.11% to finish at 16,396.83.Federal Reserve Chair Jerome Powell said Friday that economic growth remains strong and inflation is still above target.“That means we don’t need to be in a hurry to cut,” the central bank chief told a Public Radio station program.ASX SPI FUTURES CLOSEDOil up 1%, US WTI at 5-month closing high, market seen tight.Gold pares gains as higher US dollar, bond yields weigh.Iron ore gains on strong China factory activity data.Vale Indonesia targets 2024 output of about 70,800 metric tons nickel in matte.OPEC oil output falls in March, led by Iraq.Japan's JERA starts ammonia co-firing trial at coal power station.US pump prices set to climb on Russian refinery outages.Why not sign up for a free trial? Get access to expert market insights and manage your investments with confidence.Ready to invest in yourself? Join the Marcus Today community.
10:13 4/1/24
End of Day Report – Thursday 28 Mar: Record close in time for Easter
ASX 200 finds the Easter Bunny. Up a huge 77 points at 7897 (+1.0%) hitting a record high. Seems appropriate. The end of the quarter and end of the month helped stimulate optimism. Banks took a breather with the Big Bank Basket up slightly to $210.48 (0.3%). MQG rose 0.9% with insurers mixed, REITs once again in demand. When aren’t they. GMG up another 1.9% with SGP rising 1.9%. TGP was a stand out on the sale of its HPI stake, up 17.8%. Industrials shot out of the box, WOW continuing its rally up 0.5% with TLS up 2.1% and WES up 1.2%. Utilities also finding friends, ORG up 1.3%. Retail sales helped the sector getting a boost from the Swift effect. JBH up 0.6%, SUL up 3.2% and BAP up 3.6%. Resources were the stars today, iron ore miners lifting, BHP up 1.4%, RIO up 0.7% and FMG rising 2.0%. Lithium stocks also in favour as auctions from Albemarle and SQM helping sentiment. PLS up 2.1% and LTR up 2.6%. Gold stocks enjoyed another solid day with NST up 1.7% and NEM rising 3.3%. Oil and gas stocks slightly better with old king coal stocks having a strong day, WHC up 5.3%. In corporate news, REA has ditched its deal to buy Dynamic Methods on ACCC concerns.  BPT rose 3.7% after announcing savage job cuts. RMS has abandoned its potential takeover bid for Canadian miner Karora. On the economic front, Retail sales were slightly worse than expected despite a Swiftie bounce. Maybe brings rate cuts closer. Asian markets mixed, Japan down 1.3%, China up 1.1% and HK up 1.6%. 10-year yields fell to 3.96%.Why not sign up for a free trial? Get access to expert market insights and manage your investments with confidence.Ready to invest in yourself? Join the Marcus Today community.
12:49 3/28/24
Pre-Market Report – Thursday 28 Mar: Dow Jones nears 40k mark
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10:55 3/27/24