Marcus Today Market Updates

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 (AEDT) from Monday to Friday.

Episodes

February 7, 2023 14 min

 ASX 200 fell 35 points to 7504 (0.46%) after the RBA raised rates 25bps as expected though perhaps a more hawkish tilt than some had hoped for. Losses across the board accelerated, Banks sagged, CBA off 0.4% NAB down 0.5% and the Big Bank Basket down to $191.42 (0.3%). MQG edged 0.7% higher following a 9-month update, insurers better on the rate rise, QBE up 0.2% and SUN rising 0.9%. Industrials flopped around with the REITs down ...

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Wall Street dropped overnight ahead of Federal Reserve Chairman Jerome Powell's interview on Tuesday. The interview is expected to solidify further rate increases with Fed Bank of Atlanta President saying the strong Job numbers report in January raises the possibility of further rate increases. Newmont down 4.51% after announcing a bid for Newcrest Mining. Geopolitical tensions persist, with the US planning to impose a 200% tar...

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ASX 200 slipped 19 points to 7539 (0.3%) on tepid trade as resources were sold off in lithium and gold miners. NCM held up the Gold Index but the reality was a broad sell off. Only NCM, RIO and BHP in the green today. Lithium stocks under pressure, IGO off 1.4% and PLS down 2.5% with LTR falling 3.9%. Gold miners hit hard as bullion fell, RRL down 1.0%, SLR off 3.6% with NST down 0.9%. NCM rallied 9.3% on news that Newmont had appr...

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Dow Jones down 128 (-0.38%). Up 126 at best, down 240 at worst. S&P 500 up 0.42%. NASDAQ down 1.6% as the Thursday bubble deflated.

In commodities BHP and RIO dropped 0.7% and 0.6% in the US. The oil price was down 4.25%, the gold price was down 4.4%, otherwise metal prices were fairly stable. The iron ore price dropped 1.9%. Lithium also dipped a touch down 0.42%.

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 ASX 200 closes up 47 points to 7558 (0.6%) as 10-year yields tumble and rate sensitive stocks rally. Banks leading the charge higher with CBA hitting records, ANZ screaming ahead up 2.3% and the Big Bank Basket up to $192.72 (1.5). ASX up 2.5% and fund managers cheering up, even MFG up 1.4%. MQG lagging a little. Insurers under a little pressure after IAG warning on margins. Industrials doing very well, TLS up 0.7%, WOW up 0.7% an...

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The S&P 500 rose to its highest level in five months on Thursday as better-than-expected Meta results further improved sentiment around technology shares, which led the market lower last year.

The broader market index jumped 1.47% to 4,179.76, or its best level since August. Meanwhile, the tech-heavy Nasdaq Composite advanced 3.25% to 12,200.82, or its highest level since September. The gains come ahead of a trio of Big Tech res...

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 ASX 200 gave back nearly all of the early gains closing up 10 points at 7512 (0.1%) as big resources saw profit-taking across the board. Had to happen at some stage. BHP fell 1.4% with RIO under serious pressure having found the capsule down 2.3%. FMG held up better. Gold miners were superstars, NCM up 3.7% with NST up 4.6% and DEG up 3.4%. Lithium stocks better, LTR up 2.3% and CHN doing well up 6.2%. SYA too bouncing back up 5.9...

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The S&P 500 gained 1.05% to 4,119.21, reversing an early decline of almost 1%. The Nasdaq Composite added 2% to 11,816.32, boosted by gains in chipmakers following strong earnings from  AMD. Meanwhile, the Dow Jones Industrial Average rose 6.92 points, or 0.02% to 34,092.96 , after sliding more than 500 points at the day’s lows.

Fed chief Jerome Powell soothes the market nerves despite a 0.25% rate increase.
USD falls, gold ralli...

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 ASX 200 rose 25 points to 7502 (0.3%). Some caution crept in ahead of the FOMC meeting. Resources firmed but unspectacular, BHP up 0.3%, RIO bouncing 1.4% and FMG up 0.4%. Lithium stocks slightly better but no great shakes, PLS up 0.4% and IGO up 1.0%. Gold miners eased back especially in the second liners, SBM, DEG and SLR. NST one of the positive ones up 0.7%. Oil and gas slid with WDS down 1.4% and STO falling 1.0%. Coal stocks...

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US markets were up overnight, adding to January's rally, as signs of easing labour costs and cooling inflation helped boost the market. US treasury yields and the dollar index declined. Exxon and GM up 2.2% and 8.35% after positive earnings releases, while McDonald’s and Caterpillar were down 1.39% and 3.52% on their results.

The Dow Jones closed up 369 points (+1.09%). At best it was up 378, and at worst it was down 52. The...

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 ASX 200 slipped 5 points to 7464 (0.1%) as an early rally reversed. The index does not tell the whole story though with huge volatility in some sectors. Some caution crept in ahead of the Fed and US results and end of month book squaring taking the wind out of the lithium sector and golds. Resources were smashed although BHP, RIO and FMG holding up but S32, IGO and PLS gave up the uneven struggle and threw in the towel short term,...

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US markets fell overnight weighed down by declines in the tech sector and other mega-cap shares, leading into a full week of central bank announcements and earnings reports from big-tech companies including Alphabet and Meta. 

More than 100, S&P 500 companies are expected to report this week as well as the closely watched U.S employment data that may shed some light on whether progress has been made to bring inflation down. US t...

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ASX 200 fell 12 points at 7482. Resources came under a little pressure as China came back online and RIO fessed up to losing a radioactive capsule. RIO down 1.1% on the news, BHP off 0.6% and FMG off 1.3%. Lithium stocks in demand again as Chinese producers making record profits, PLS up 2.0%, AKE up 1.1% and rare earths also doing well with LYC up 6.9% with ARU continuing  1.8% higher. Quarterlies helping sentiment. Gold miners ste...

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The Nasdaq Composite jumped 0.95% to settle at 11,621.71, while the S&P 500 gained 0.25% to close at 4,070.56. The Dow Jones Industrial Average added 28.67 points, or 0.08%, to finish at 33,978.08.

All the major averages posted a positive week and are on pace for a month of gains. The tech-heavy index rose 4.32% and closed out its fourth week of gains. It’s on pace for its best monthly performance since July. The S&P and Dow...

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ASX 200 rose 26 points to 7494 (+0.3%) for the fourth week of gains. Resources and banks better. BHP leading the way up 0.6% with FMG in stasis after record production numbers. Lithium stocks saw some sector rotation as PLS saw some take money off the table falling 4.1% and IGO down 0.5%. Others rose like VUL and LTR. Gold miners fell NCM down 2.3% and DEG off 1.3% with SBM having a better day than Wednesday, up 5.0%. Coal stoc...

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  • The Nasdaq Composite jumped 1.76% to settle at 11,512.41. The Dow Jones Industrial Average rose 205.57 points, or 0.61%, to end at 33,949.41, while the S&P 500 gained 1.1% to close at 4,060.43.
  • GDP data released at 2.9% for the quarter annualised. Higher than forecasts. 
  • Tesla the focal pint on results up 11%
  • Intel after hours disappointed down around 6%.
  • AUD jumps to highest since June.

  • Catch up on the latest news with Henry Jennin...

    Mark as Played

    ASX 200 slips 22 points to 7468 (-0.3%) on higher-than-expected CPI. Turnaround from solid open as CPI came in above expectation at 7.8% highest since 1990. Resources slid a little with BHP off 1.0% and RIO down 0.7% with quarterlies dominating and gold miners sliding lower. SBM collapsed on quarterly down 21.4%, lithium slightly better in places, IGO up 0.3% and MIN falling 2.2% on delays at Mt Marion. Energy stocks slipped, WDS o...

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    The Dow gained 140.40 points, or 0.31%, to close at 33,733.96. The S&P 500 dipped 0.07% to settle at 4,016.95, while the Nasdaq Composite dropped 0.27% to end at 11,334.27.
     72 of the companies in the S&P 500 have now reported with 65% of those beating consensus.
    Treasuries were firmer with the curve flattening, ending near best levels after today's strong 2Y auction. 

  • Microsoft beats estimates and up 3.8% after hours.
  • Mur...
  • Mark as Played

    The Nasdaq Composite surged 2.01% to finish at 11,364.41, while the Dow Jones Industrial Average rose 254.07 points, or 0.76%, to end at 33,629.56. The S&P 500 added 1.19% to settle at 4,019.81.

    Tesla and Apple gained on hopes that a reopening in China would boost their businesses. Both big tech names recently grappled with temporary shutdowns and blows to production as the country dealt with surging Covid-19 cases.

    Semiconducto...

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    ASX 200 closed up 5 points to 7457 (0.1%) in thin trade as resources slipped slightly on Lunar New Year with BHP down 1.1% and FMG off 1.0%.  Lithium and base metals picked up led by PLS up 6.2% with IGO up 3.1% and LTR bouncing from Friday’s sell off, up 6.9%. Base metals and other commodity stocks did well, NIC up 3.2% and SYR up 1.3%. Gold miners too in demand, NCM up 0.5%, DEG up 0.3% and SBM doing well up 5.3%. Oil and gas sto...

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