Marcus Today End of Day Podcast – Friday 2nd June

Marcus Today Market Updates

Jun 2 2023 • 13 mins

ASX 200 rose 34 points to 7145 (0.5%) as resources rallied hard on better Chinese numbers and debt ceiling relief. AUD back in demand. For the week, the ASX 200 is down 9 points. Iron ore miners going hard. BHP up 2.8% and RIO up 2.5%, with FMG up only 1.7%. Lithium stocks are also in demand, led by PLS up 3.0% and IGO up 2.5%. Base metals better, S32 rallying 1.8% and gold miners also flying high, NCM up 4.6%. Oil and gas better ahead of the OPEC+ meeting this weekend. WDS up 1.1%, and STO rose 1.4%. Coal a little merrier too, with WHC up 1.4%. Banks left behind with the Big Bank Basket down to $166.01 (0.1%) with NAB the worst hit down 1.0%. MQG slightly higher up 0.3% and insurers unchanged, and money managers slightly better. REITS firmed as GMG rose 0.4% and Industrials a little soft on wage rises, COL down 1.7% and WOW off 1.4%. Healthcare mixed, CSL off 0.7% and RMD up 1.0%. Tech doing well, APX a standout up 15.0% with WTC up 1.5% and the All Tech Index up 0.6%.

In corporate news, a slow day. New CFO for FMG and BUB in trouble, ADH cratered on business update down 15%.
On the economic front, lending numbers are down. Asian markets running hot following US deal. HK powering ahead by 3.9%. Dow Jones futures up 58 points and Nasdaq futures up 24 points.

Why not sign up for a free trial? Get access to expert insights and research and become a better investor.

Make life simple.
Invest with Marcus Today.