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.

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.

The ASX 200bounced back after sliding to a two-month low during trade closing up 20 points to 7111 (+0.3%), as sentiment improved after the House of Representatives passed the bill to raise the debt ceiling with bipartisan support. Resources and base metals clawing back gains from yesterday’s losses, BHP +0.1%, RIO +0.4% and FMG up 0.8%. Lithium mixed, but mostly down MIN down 3.6% and PLS down 1.6%. Gold miners are today’s winners as the likelihood of another Fed rate hike increases. NST 3.1%, NCM 2.4%, EVN 0.6%. Financials showing modest gains, with the Big Bank Basket down to $166.17 (-0.1%), CBA, flat WBC off 0.4% and NAB up 0.3%. Tech stocks didn’t stay down for long, with the All-Tech Index up 0.7%, SQ2 +2.3% XRO +1.9% and WTC +0.9%. Industrials were mixed and uninspiring, ALL rose 1.3%, SEK up 0.6% and REA off 2.0%. Defensives did ok with WOW and COL up. Energy sector up 0.4%, despite oil dropping for a third consecutive session. In corporate news, NMT jumped 21.9% after providing an update on its joint venture for lithium-ion battery recycling. LGL rose 16.1% after raising full-year guidance. AGY dropped 6.3% despite announcing that the Rincon Lithium project is now partially operational. In economic news, Australian retail sales were unchanged at $35.3bn in April, indicating that retail has hit a plateau. Caixin China’s general manufacturing PMI unexpectedly rose to 50.9 in May from 49.5 in the previous month, while exceeding consensus, the latest results highlights the patchy economic recovery amid insufficient demand and deflation risks. Asian markets are up, Japan’s Nikkei rises on bargain hunters up 0.9% and HK up 0.6% with China up 0.3%. Australia 10Y yield up 3.62%. Dow Jones futures down 21 points and Nasdaq futures down 11 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.

ASX 200 closed down 118 points to 7091 (-1.6%), plunging at 11:30 on the CPI release, which came in hotter than expected, and Chinese PMI numbers which continue to show an economy that has peaked and slowed. Energy the worst-performing sector today; markets remain divided and uncertain on whether OPEC+ will cut production at the upcoming meeting, with WDS down 2.3%, STO down 2.7%, and BPT sliding 2.5%. Resources and base metals no better as oil comes under pressure following the weaker-than-expected data from China, BHP -3.4%, RIO -2.1% and FMG down 3.0%. Gold miners are in positive territory today on safe-haven buying, NST +1.7% and AGG gaining 2.7%. Financials weighed, with the Big Bank Basket down to $166.35 (-2.3%), BOQ took a beating down 5.4% after accepting an enforceable undertaking from both AUSTRAC and APRA, while the big four banks are all down over 2%. REITS falling in tandem with bond yields. Interest rate-sensitive tech stumbled lower, with the All-Tech Index falling 0.5%, SQ2 -1.8%, NXT -1.0% and CPU off 1.3%. Industrials were broadly down, and Healthcare eased, RMD down 2.3% and RHC off 1.7%. In corporate news, QAN continues to fly, up 0.9% as the market continues to digest an upbeat investor day. SLR -1.9% provided St Barbara with a revised non-binding indicative offer, and 360 +1.0% on positive Q1 results at their AGM. In economic news, Australian inflation rose to 6.8% YoY in April up from 6.3% in March, significantly exceeding expectations of 6.4%. China’s PMI showed further deterioration in manufacturing activity, coming in at 48.8 below the consensus of 49.5 and 49.2 the previous month, commodity prices coming under pressure. Asian markets down, Japan down 1.3% and HK off 2.4% with China sliding 0.6%. Australia 10Y yield down to 3.59%. Bitcoin set for first monthly drop in 2023 down 1.66%. Dow Jones futures down 121 points and Nasdaq futures down 44 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.

US markets finished mixed overnight. Dow down 0.15%. Dow at best up 39 points, at worst down 199 points. S&P 500 flat up 0.01%, and the NASDAQ extends its gains up 0.32% driven by a rally in semi-space, with Nvidia rallying a further 2.99%. S&P 500 and Nasdaq nearing their highest levels since August 2022 and are on track to post a monthly gain. Worries over the debt ceiling continue to weigh on markets. Long-dated treasury yields dropped while the dollar fell after reaching a two-month high. Telsa shares see a boost +4.14% after Musk’s visit to China, and was quoted he was “open to expanding in China”. European stocks are broadly down, Stoxx 50 -0.7% FTSE -1.4% CAC -1.3%, and DAX -0.3%, while the Stoxx 600 closed down 0.9% on track for its steepest monthly fall this year, despite hitting a year high earlier this month.  SPI futures down 34 points (-0.47%).Nvidia briefly joined the US$1 trillion value club before closing 3% higher, just under the US$1 trillion valuation mark. Nvidia has now tripled its value in less than eight months, the latest surge driven by the company’s forecast and its forward P/E ratio of 47.3. Analysts see Nvidia as a crucial company in a rapidly changing era focused on AI capabilities. “During a gold rush, sell shovels”.HEADLINESTop US Republican McCarthy urges support for debt ceiling deal ahead of key vote.Nvidia briefly joins $1 trillion valuation club.HP misses revenue estimates as inflation saps PC demand.Elon Musk kicks off China visit, Tesla expansion in focus.Stocks close mixed, Nvidia's rise offsets debt ceiling jitters.US consumer confidence dips to six-month low, labor market views soften.Ukrainian drones strike Moscow and Kyiv, tensions escalate.Deepfakes emerge in US politics, AI concerns raised.Chinese jet carries out aggressive maneuver near US military plane.NATO to deploy more troops to Kosovo to curb violence.ECB warns of impact on top European banks if funds run into trouble.Pfizer's hemophilia therapy shows positive results in late-stage study.OPEC+ cuts oil output to stabilise prices.Catch up on all the latest with Henry Jennings on today’s Pre-Market Podcast.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.

ASX 200 closed down 8 to 7209 (-0.1%) in a subdued trading day. ASX 200 high of 7227, low at 7204. Namibia's threat to take minority stakes natural resources, including uranium, led to a sharp sell-off of PDN falling 19.6%, DYL down 5.7%, and BMN slid 5.9%. The Big Bank Basket lost its grip on yesterday's gains, down to $170.22 (-0.5%), banks down across the board, ANZ taking the biggest hit down 1.4%, followed by CBA -0.4%, NAB -0.2% and WBC -0.2%. Coal stocks eased back. Base metals and iron ore miners edged higher, BHP rose 0.3% and RIO up 0.2%. Energy stocks found no support from stronger oil prices, WDS down 0.4%, STO down 0.4% and STX off 3.2%. Gold stocks are broadly up, NST +0.6%, DEG +0.4% and WAF +0.6%. Tech flat, All-Tech Index up 0.3%, CPU +1.1%, WTC +0.5%, and WBT +7.4%. REITS fell in late afternoon trade, VCX -1.6%, CHC -2.2% and SCG off 1.4%. Lithium stocks closed mixed, MIN +1.4%, LTR +1.1%, while SYA plummeted +11.9% after completing a $200m bookbuild placement. TLS managed a 0.7% gain, and other defensives better WOW up 0.1% and RHC up 1.1%. In corporate news, QAN +2.7% on EBIT guidance, small-cap PFT surged +20% after announcing expectations for revenue to grow 50%, and CGF +2.6% following investor day. In the land of economic woes, Australian building permits nosedived, falling 8.1% MoM, significantly below consensus for a 2% rise – an unfortunate blow for renters. ANZ-Roy Morgan consumer confidence fell 1.1pts to 76.2, marking thirteen straight weeks below the 80 mark. The main driver for the decline is the reduced confidence in personal financial situations compared to a year ago. Asian markets are down, Japan down 0.1% and HK off 0.2% with China slipping 0.6%. Australia 10Y yield down to 3.69%. Dow Jones futures up 59 points and Nasdaq futures up 72 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.

The US markets and London were closed overnight for Memorial Day holiday and Spring Bank Holiday. The US debt ceiling deal is now facing potential challenges as some members of the Republican party have expressed opposition to raising the US debt ceiling, which currently stands at $31.4 trillion, dampening optimism. Despite this, US equity futures showed modest gains, with cautious optimism prevailing that a default will be avoided.In European markets, there was a general decline, primarily driven by the underperformance of tech and bank stocks. The STOXX 600 Index dipped by 0.1% after experiencing its strongest one-day gain in nearly two months on Friday.Nvidia made an announcement on Monday regarding its plans to construct Israel's most powerful AI computer. This decision is in response to the increasing customer demand for AI applications. The new system is anticipated to become one of the fastest supercomputers worldwide.HEADLINESEuropean stocks slip as tech and banks drag.PwC Australia puts nine partners on leave, overhauls board amid tax leak scandal.Republicans speak out against US debt-ceiling deal.Biden says final US debt ceiling deal ready to move to Congress for vote.North Korea says it will launch its first military spy satellite in June.China rejects US request for a meeting between defense chiefs.Cathay Pacific nears Boeing 777-8F freighter order.GM Secures Financial Support for an EV Battery Plant in Quebec.Get up to speed with Henry Jennings’ Pre-Market Podcast.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.

ASX 200closed up 63 points to 7217 (+0.9%), rising a second straight session in a broad market rally on positive news that a tentative deal to raise the debt ceiling was reached over the weekend. Mining stocks were firm today, leading the market higher with solid gains in BHP, RIO and FMG, all up over 1% following a rise in iron ore prices late last week. Financials put on their money-making boots, with the Big Bank Basket up to $171.04 (+1.3%), with CBA leading the charge up 1.4%, while NAB, WBC, and ANZ followed closely up 1.3%, 1.2%, and 1.2%. REITS took centre stage as the best-performing sector, up 2.0%, GMG +1.8%, CHC +3.4% and MGR +2.2%. Consumer discretionary sector in the red today, as retailers took a hit MYR -1.4% and JBH -0.2%. Energy stocks were good, supported by stronger oil prices, WDS +1.0%, STO +0.9% and BPT up 1.1%. Lithium stocks stood out, with MIN up 2.3%, AKE up 1.4% and LTR up 1.5%. Gold sector was mostly flat, but EVN and SSR pumped the breaks falling 1.7% and 1.9%, respectively. Tech a little flat considering, All Tech Index up 0.1%, SQ2 and NXT found support up 1.2% and 2.7%, while XRO slipped 0.9%. In corporate news, APX +10.6% on broker rating changes, LLL up 17.2% on securing $106m through a strategic placement, HUM climbed 7.7% after ASIC revokes BNPL stop order, and SHV gained 8.7% on results despite posting a net loss of $96.2m. In economic news, WTI crude futures climbed over $73 a barrel, extending gains from the previous session on positive sentiment on the US debt ceiling deal. NZ dollar remains depressed, trading near six-week lows following last week's 25bps hike. Asian markets mixed, Japan up 0.7% hit a new 33-year high above 31,400 during trade, HK down 0.7% with China up 0.2%. Australia 10Y yield down to 3.7%. Dow Jones futures up 64 points and Nasdaq futures up 75 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.

The ASX 200 is anticipated to rally today on debt ceiling relief, rebounding from a 125-point (-1.71%) fall last week. All three major US indices gained +1% last week, with the Nasdaq leading the way, gaining 2.51% fuelled by AI hype, supported by favourable forecasts from Nvidia. This week, the trading week in the US will be shorter due to the Memorial Day Holiday on Monday. US jobs data out this week, non-farm payrolls and unemployment data on Friday, both of which are pivotal indicators used by the Fed to make decisions regarding interest rates.TODAY'S HEADLINESASX poised for debt ceiling relief rally.McCarthy, Biden predict Congress will pass debt ceiling deal.Russia unleashes largest drone attack on Ukrainian capital ahead of Kyiv Day.Texas Senate to deliberate on impeached AG Ken Paxton.Oman's Sultan in Iran for talks on diplomatic, security issues.China's home-grown C919 completes first commercial flight.ISS backs Toyota shareholder proposal on climate disclosure.Catch up on all the latest with Henry Jennings on today’s Pre-Market Podcast.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.

ASX 200 rallied into the weekend with the index up 17 points to 7155 (+0.2%). For the week, the index fell 1.7% on mainly debt woes, and lack of our own Nvidia. Banks and resources were better today, the Big Bank Basket up to $168.78 (+0.35%) as yields continue to push higher and WBC becomes the latest bank to cancel its cashback offer on home loans. War is over it seems. Insurers doing well on the back of yields rising, even money managers better today. REITs conversely under pressure on higher rates, GMG down 0.6% and MGR off 1.7%. Healthcare in ICU today, CSL down 0.7% with RMD off 1.7% and FPH underwhelming on results falling 6.3%. Tech once again better, WTC continues to push higher despite global growth concerns perhaps, XRO slipped slightly with TNE and ALU both better, and chip wannabes BRN and WBT finding friends today. The All-Tech Index rose another 0.9%. Bit of short covering in retail land, DMP up 2.9%, Travel better CTD up 2.2% and LOV up 1.2%. KGN up 3.3% too. Switching gears to resources and a better day as iron ore stabilised, BHP up 1.4% and FMG bouncing hard up 3.3%. Lithium stocks mixed, SYA tapping investors for another $200m at the same price they did a year ago. Gold miners continue to drift lower and oil and gas stocks down too with coal in not such a merry place. In corporate news, IVC held its AGM and gave a positive outlook statement, LFS down 3.5% after a profit warning following its cyberattack. On the economic front, retail sales in April were flat. This follows a 0.4% rise in March. Asian market mixed again and yields up to 3.74%. US Futures drifting ahead of debt talks and a long weekend. Dow Futuires down 44 and Nasdaq down 17.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.

Wall Street ended mostly up overnight after Nvidias blowout forecast sent the chipmakers’ share price surging 24%, which fuelled a rally in AI-related companies. S&P 500 gained while the Dow fell for its 5th session, dragged down by Intel shares. Debt ceiling talks failed to reach an agreement, but GOP Rep McHenry said “the list of issues dividing the two camps had grown shorter”, edging closer to a deal. June 1st deadline looming. US treasury yields are up, and the USD reached a two-month high. In contrast, Gold slid to its lowest level in months. European markets broadly lower, as global economic slowdown and US debt ceiling stand-off outweigh optimism. STOXX 600 Index fell 0.3%, losing 2.7% in three consecutive days.Dow Jones down 35 points (-0.11%). S&P 500 up 0.9%. NASDAQ up 1.7%. VIX Volatility Index down 4.4%. In European markets Stoxx 600 -0.3%, FTSE -0.7%, CAC -0.3%, and DAX -0.3%. SPI Futures are down 6 points (-0.08%).Nvidia's stock surged 24%, marking one of the largest one-day gains for the U.S. stock, as its revenue forecast highlighted the untapped potential of AI. This surge doubled the company's stock value for the year and propelled its market capitalisation to around US$939bn, inching closer to the trillion-dollar club, making Nvidia the largest chip firm after Apple, Alphabet, Microsoft, and Amazon. The positive earnings report also boosted the chip sector and AI-focused firms, seeing The Philadelphia SE Semiconductor Index up 7% to its highest level in more than a year.US corporate profits plummeted by 6.8% in Q1 2023, the lowest since Q2 2021, surpassing market expectations and marking the largest decline since Q1 2020.US Bond yields sharply rose. 2Y yields up 19bps. 10Y yields up 10bps.Heavyweight tech stocks higher: Apple +0.7%, Meta +1.4%, Google +2.1%, and Microsoft +3.8%.Intel Corp -5.5% viewed as lagging in the AI race by the market.Ralph Lauren Corp +5.34% after the luxury retailer beat profit expectations.Gold reached a two-month low, down 0.85% due to progress in U.S. debt ceiling talks and expectations of a rate hike by the Federal Reserve. The optimism surrounding the debt ceiling negotiations reduced the demand for safe-haven gold.Silver also reached its lowest point in two months down 1.4%.Zinc fell 2.15% to its lowest level since July 2020 due to weak demand and rising inventories. The economic recovery in China, has been slower than expected pushing prices down.Copper +0.67%, Nickel +2.34%, Aluminium +0.27%, Lead +0.71%, Tin +2.02%.WTI crude dropped 3.69% and Brent fell 2.79%, ending a three-day period of gains. The decrease came after Russian Deputy Prime Minister stated that OPEC+ would not implement additional production cuts.Catch up on the latest news with Henry Jennings’ Pre-Market Podcast.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.

ASX 200 nosedived today, closing down 76 points (-1.1%) to 7138, sliding for the fourth consecutive session as lingering uncertainties weigh on market sentiment. Tech stocks showed off their resilience on the back of the Nvidia result and move, with the All-Tech Index up another 2.4%, recovering yesterday’s losses and then some. XRO found its balance after yesterday's tumble, up 2.3%, SQ2 +2.5%, ALU +4.3%, MP1 +12.1% and NXT +4.4%. Gold miners worst performers today, NST down 3.6%, EVN down 4.4% and NCM off 1.9%. Base Metals and Miners followed suit, with heavyweight iron ore miners down BHP -1.6%, RIO -1.6% and FMG -3.2%. Lithium joined the sell-off, MIN -3.1%, PLS -1.3%, and LKE off 3.6%.Energy stocks weakened, WDS down 0.5% and coal stocks grim, WHC down 4.5% % and NHC off 4.5%. Financials were no better, with the Big Bank Basket down to $168.20 (-2.1%), financial stocks performing more like "fiscal flops" than money-making maestros, CBA down 2.2%, MQG off 2.2%, and ANZ slid 2.6%. Fund managers slipping away, MFG down 1.6%, PPT down 0.4%, and PTM off 2.6%. Industrials mostly down, REITs off 0.5%, Healthcare up, CSL up 0.2% and COH up 0.1%. In corporate news, ABC rocketed up 21.9%, on AGM and results, WOW -0.1% acquires failed startup milk run, and TWE fell 7.8%% after the group announce its expecting sales to be down 2-3%. Nothing on the economic front. Looking beyond our borders, Asian markets are down, Japan down 0.3%, HK down 2.4%, with China off 0.9%. Australia 10Y yield up to 3.70%. Dow Jones futures down 68 points and Nasdaq futures up 182 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.

Global equities fell overnight as US debt ceiling talks continue without a deal. All three major US indices are down just off session lows, extending losses from the prior session. Safe haven buying boosted the dollar and gold. Oil prices have reversed their recent downtrend, rising after a warning from the Saudi energy minister to speculators. Lots of Fed speak following the release of FOMC meeting minutes, a bevy of mixed signals from officials. One-month US bills are hovering near record highs on concerns about impending payments coinciding with the potential risk of the treasury running out of money; meanwhile, 10Y yields retracted. European markets were smashed after a fresh wave of selling, the Europe-wide STOXX 600 index fell 1.8%, logging its worst day in two months.Dow Jones down 256 points (-0.77%). S&P 500 down 073%. NASDAQ down 0.61%. VIX Volatility Index up 8.1%. In European markets Stoxx 600 -1.8%, FTSE -1.7%, CAC -1.7%, and DAX -1.9%. SPI Futures are down 31 points (-0.43%).Nvidia is up +25.61% in after-hours trade after exceeding Wall Street estimates by more than 50% in its revenue forecast for Q2. Growth attributed to an increased supply of its AI chips, in high demand for applications like ChatGPT. The company reported a robust performance, with data centre chip sales reaching US$4.28bn and gaming chip revenue exceeding expectations at US$2.24bn, while net income rose to US$2.04bn, reflecting strong financial growth.HEADLINESAustralia refers PwC tax document leak scandal to police.Australia and India to seek closer economic ties, critical minerals cooperation.RBNZ Governor Orr says confident in restrictiveness of interest rates.Republicans, White House see progress in US debt ceiling talks.Fed agreed need for more rate hikes after May meeting was 'less certain'.Ron DeSantis enters 2024 U.S. presidential race.Nvidia shares surge 21% as sales forecast jumps and AI booms.Stalled US debt talks, inflation woes hit stocks.White House says China's actions on Micron won't torpedo relations.Airbus rules out the imminent launch of new A220 jet version.McCarthy Says GOP and White House ‘Have Time’ to Reach Debt Deal.Get up to speed with Henry Jennings’ Pre-Market Podcast.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.

The ASX 200 decided to take a nosedive today, closing down 46 points (-0.6%) to 7214, marking the third consecutive session down as market sentiment sours. Tech rally came to an end. All-Tech Index fell 0.9%. XRO hot streak finally cooled, off 1.5%, SQ2 and CPU found some support up 0.7% and 0.2%. Gold and Energy stocks were the winners today, riding the wave of stronger oil and bullion prices. NCM up 0.6%, PRU up 0.8%, STX rising 4.3%, and STO firmer 1.4%. Mining and Materials decided to dig themselves into a hole today, as prices for base metals took a downward slide. BHP -2.2%, RIO -2.1% and FMG down 4.1%. Lithium stocks are broadly down, MIN down 3.0%, PLS off 1.7%, while AKE in demand up 0.7%. Financials failed to hold onto yesterday’s gains, down 0.2%. CBA is the only major bank in positive territory, up 0.5%, NAB, ANZ, WBC and MQG all down. Healthcare stumbled, CSL down 1.2% and RHC down 0.8%. Insurers mixed, QBE -1.3%, MPL +0.9%, and SUN +0.5%. REITS off 0.9%, while bonds firm.In corporate news, UNI tanked 23.9%, after flagging subdued trading will persist into next fiscal year, despite on track to deliver record sales, QAN +1.9% on broker updates, and WEB rose 3.8% on positive results, revenue rose 164%. In economic news, Westpac Melbourne Institute Leading economic index came in flat at 97.27 in April, marginally down from 97.3 in March; the result suggests a continuation of an ongoing economic slowdown. Reserve Bank of New Zealand lifted rates by 25bps today to 5.5%, the highest rate since 2008. UK inflation rate significantly dropped to 8.7% in April from 10.1% in March. Core inflation still a problem. Asian markets are down, Japan down 0.4%, HK down 1.1% with China off 0.7%. Australia 10Y yield up to 3.66%. Dow Jones futures down 2 points, and Nasdaq futures down 7 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.

ASX 200closed down 3 points to 7260 (-0.1%) in a narrow day of trade. Financials bounce back, recovering yesterday’s losses. The Big Bank Basket up to $171.34 (+0.6%) MQG, the biggest winner climbing 2.1%, CBA, NAB, ANZ, and WBC all with modest gains +0.6%, +0.4%, +0.8%, and +1.0% respectively. Tech Rally continues, All-Tech Index gained another 0.3%. WTC had a wild day, shares hit a record high of $74.46 today, making WTC the largest listed software company on the ASX before closing down 0.1%, SQ2 gained 4.5%, and XRO up 0.9%, marking the fifth day of consecutive gains. REITS found support, GMG up 0.7%, SCG up 0.4% and MGR stronger 0.9%. Energy stocks did well again today, as oil firms and demand outlook improves, WDS +0.3%, STO +0.3%, and BPT +0.4%. Base metals and Resources were broadly lower, S32 down 0.5%, BHP down 0.9% and FMG off 0.5%. Lithium stocks were mostly down, MIN -1.0%, PLS -0.8%, but AKE rose 0.8%. Travel stocks were hammered, QAN -2.2% triggered a broad sector sell-off, despite forecasting a record underlying pre-tax profit in FY23. Healthcare and Insurers mixed. CSL +0.6%, SHL -3.0%, QBE +1.4%, while NHF fell 0.8%. Gold sector down for the sixth day in a row, falling 1.2%, NCM -1.9%, NST -0.8%, and EVN off 1.3%. In corporate news, NAB lifts mortgage rates up 0.1% on new home loan customers, 29M  fell 3.3% on updates to guidance, and OFX surged +20.1% on record results, NOI up 45.6%. In economic news, Judo Bank PMI data out today, the manufacturing PMI reached an eight-month high of 50.8 in May, the services PMI down to 51.8 in May, fell from 53.7 last month, and the Australia Composite PMI was above 50, coming in at 51.2 in May falling from 53 in April. Asian markets eased with Japan down 0.7%, HK down 0.7%, with China off 0.9%. Australia 10Y yield up to 3.65%. Dow Jones futures up 26 points and Nasdaq futures up 27 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.

US stocks closed mostly higher in an uneventful day of trade. The Dow closed 140 points lower, the S&P 500 near flat, finishing just in the green ending off session highs just under the 4200 level, and the NASDAQ added 0.5%, supported by gains in Alphabet and Meta. European stocks finished little changed. Gold come under pressure from Hawkish Fed officials, Treasury yields weaker 2Y yield back above 4.3%, USD stronger and shares in PacWest Bancorp surged by almost a fifth +19.55% on news it has agreed to sell a portfolio of 74 real estate construction loans to a subsidiary.Dow Jones down 140 points (-0.42%). S&P 500 up 0.02%. NASDAQ up 0.50%. VIX Volatility Index up 3.1%. In European markets Stoxx 600 -0.01%, FTSE +0.18%, CAC -0.18%, and DAX -0.32%.SPI Futures are up 5 pointsWall Street mixed, European stocks flat as US debt ceiling talks progress.Clock ticking, 'optimistic' Biden and McCarthy meet on debt ceiling.TikTok sues Montana after state bans app.Inflation has eroded U.S. households' financial security, Fed survey shows.Ford seeks to reassure investors with EV, cost cut plans.PacWest shares jump after $2.6 bln real estate loan sale.Investors on Wall Street turn to tech stocks.Macquarie flags credit crunch risk from tight lending conditions.Meta Fined Record €1.2 Billion in EU Over US Data Transfers.Tune in to Henry Jennings’ Pre-Market Podcast to get in the know for the day ahead. 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.

ASX 200 started the week down 16 points to 7263 (-0.2%) tracking the US markets as debt ceiling jitters continue. Banks weighed down the ASX today, Big Bank Basket fell to $170.32 (-0.9%), CBA the biggest loser down 1%, ANZ, NAB, and WBC all off -0.8%, -0.7%, and -0.8% respectively. Tech continued to rally, with the All-Tech index up 0.2%, XRO continued to climb up another 1.3%, after gaining 15% last week, WTC up 1.9%, ALU up 1.4%, and NXT gained1%. Energy sector performed well up 1% thanks to a surge in oil imports in China, which has almost hit a decade high, WDS, STO, and BPT all gained over 1%. Lithium stocks took a beating, AKE and PLS hammered, down 3.1% and 2.8% respectively. Gold miners eased, NST down 0.8% and NCM fell 0.3% Industrials were underwhelming. WOW off 0.4%, WES down 1%, and TLS slipped 0.6%. Healthcare and Insurers in positive territory, CSL +0.7% RMD +0.7%, QBE +1.2%, and SUN gained 0.9%. REITS slipping off 0.8%, GMG down 0.8% and VCX also down 2.7%. In corporate news, GTK surged 29.1% on results, specifically a 47% jump in sales. In contrast CCX fell 5.8% on a decline in sales. TYR plunged 16.1% after Potentia pulled its takeover offer. Nothing on the economic front. Asian markets are higher, Japan up 0.7% and HK up 1.3% with China stronger +0.1%. Australia 10Y yield  3.58%. Bitcoin up 0.88%. Dow Jones futures down 34 points and Nasdaq futures up 5 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.

Dow Jones down 109 points (-0.33%). Up 117 at best, down 199 at worst. NASDAQ -0.24%. S&P 500 -0.14%.SPI Futures down 11 points. The ASX 200 was up 0.31% (23 points) last week.US markets rose last week with the Dow Jones up 0.38% on the week, S&P 500 up 1.65% with the NASDAQ up 3.04%, defying Powell and his Hawks last week. The ASX followed suit tracking the US markets up 0.31% supported by tech stocks with XRO outperforming closing the week out up 15.09%.Copper rebounded 1.11% on optimism about US debt talks and a weaker dollar on Friday.Gold rallied 0.89% as renewed worries about the stability of the banking sector and remarks from the US Federal Reserve chairman prompted traders to slash bets for another interest rate hike.Nickel +2.06%, Aluminium -0.18%, Zinc +1%, Lead 1.8%, Tin 1.6%.WTI crude fell 0.35% on Friday due to concerns over a potential US debt default, but still recorded a 1.7% weekly gain as the market anticipate an oil market deficit in the second half of the year.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.

The ASX 200 took a hit today, dropping 36 points (-0.5%) to close at 7199. The downturn was widespread, with gold and resources the worst performers. Gold miners saw a substantial drop, losing its lustre following recent hawkish comments from Fed officials. NCM down 2.1%, EVN down 2.3%, and NST off 1.1%. Resource stocks faced headwinds, BHP down 0.8% and RIO down 0.3%. Lithium shares also under pressure despite higher carbonate prices, MIN down 1.7%, SYA off 4.4%, and LTR slipped 1.8%. The financial sector struggled, with the Big Bank Basket dipping to $167.83 (-0.5%), led by MQG, which experienced a sharp decline of 1.3%. NAB and CBA also faced selling pressure, slipping 1.0% and 0.5%, respectively. Technology stocks were the winners today, reversing yesterday’s losses, with WTC gaining 1.0%, XRO up 1.9%, and ALU up 1.0%. The All-Tech Index up 0.3%. REITS down as wage data increases the likelihood of another rate rise from the RBA. GMG down 0.9%, and CHC down 0.4%. Defensive sectors no better, Healthcare and Industrials down. WES eased 1.1%, RMD down 0.9%, and MPL tumbled 0.9%. In corporate news, CTT rallied 13.2% after the company confirmed the company founder and CEO Mintz does not have any intention to sell shares in the company at the current time, putting the rumours to rest. TPW +19.1% on positive results in their trading update. IPL off 7.8% after reporting net profit down 6% in 1H23. In economic news, Australian private sector wages up 0.8% in Q1, leading to an annual growth rate of 3.8%, the highest since June 2012. Japan’s economy grew 0.4% QoQ in Q1, exceeding expectations of 0.1%. In Asia, markets are mixed, Japan up 0.3%, HK down 1.0%, and China down 0.6%. Australia 10Y yields gained to 3.43%. Dow Jones futures up 20 points and Nasdaq futures up 26 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.

US markets closed lower across the board in an uneventful day of trade with the S&P 500 trading within a 20-point range before a sharp decline before close. US treasuries continued to rise as economic data and weak corporate results disappoint, while the ongoing debt ceiling negotiations dampen market sentiment. Greenback strengthens while gold slides back below the $2,000 mark. More Fed speak overnight, recent comments from Fed officials beginning to indicate they aren’t ready to cut rates any time soon. European markets follow the US, all down.Dow Jones up down 336 points (-1.01%). Dow at worst down 342. S&P 500 down 0.64%. NASDAQ down 0.18%. VIX Volatility Index up 5.08%. In European markets Stoxx 600 -0.42%, FTSE -0.3%, CAC -0.2%, and DAX -0.1%. SPI Futures are down 37 points (-0.51%).Gold dropped 1.58% and reached a two-week low as U.S. economic data and hawkish statements from Federal Reserve officials raised doubts about potential interest rate cuts.Nickel had a brief rise driven by supply concerns and power problems in Europe and China before falling 2.61% on global economic worries.Copper -1.99%, Aluminium +0.04%, Zinc -1.87%, Lead -1.49%, Tin -1.98%WTI crude fluctuated before dropping 0.31% and Brent fell 1.1% over reduced demand concerns from China, the world's largest crude importer, due to a slowdown in economic recovery indicated by recent data on China's industrial production. FANMAG stocks mostly up: Facebook -0.02%, Apple flat, Netflix -0.64, Microsoft +0.74%, Amazon +1.98%, and Google +2.57%.ON THE CALENDARDomestic data: n/aJapan data: GDP Growth Rate.China data: House Price Index.UK data: BoE Gov Bailey Speech.EU data: New Car Registration Rates, Inflation Rate.US data: Building Permits, Housing Starts, Industrial Production, Business Inventories.Catch up on all the latest with Henry Jennings on today’s Pre-Market Podcast.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.