Market Updates

US stock indices closed lower on Wednesday as investors following the Federal Reserve's policy decision and another selloff in chipmakers ahead of major tech earnings. The S&P 500 fell 1.5%, the Nasdaq 100 lost 2.1%, and the Dow shed 1,153 points. Microsoft shed 0.7% while Meta fell 1.3% ahead of their earnings reports after the bell, which investors are watching for signals on AI infrastructure spending. Concerns that AI-relat...

The ASX 200 put in another solid performance, rising 91 points to 9039, as iron ore results cheered the resource sector and industrials continued to push higher. The market also took comfort from the latest CPI reading, which came in below expectations and should ease some of the pressure on the RBA to raise rates on 11 August. The banks gave back some early gains, the Big Bank Basket at $295.53 up 0.1%, with ANZ up 1.37%, while ot...

US equity indices closed mixed on Tuesday as chipmakers extended their selloff, while earnings and falling oil prices supported investors' sentiment. The S&P 500 gained 0.2% and the Dow Jones rose 537 points while the Nasdaq 100 fell 1%. Concerns over slowing AI infrastructure spending and the circular nature of data center investment weighed on compute and memory chipmakers. Micron slumped 8.8%, AMD lost 8.1%, Intel fell 5.9%,...

The ASX 200 shrugged off early losses to close 54 points higher at 8948 (0.6%), with the banks proving resilient yet again. CBA rose 1.5% and NAB gained 0.7%, taking the Big Bank Basket to $295.23 (+1.3%) Other financials also had a better day, with HUB up 1.8% and ASX rising 1.5%.

REITs also performed well, with GMG up 0.2% and SGP gaining 2.7%. Industrials were firm, led by a rebound in the tech sector, with XRO up 3.7%, WTC up 8....

US stock indices closed mixed on Monday as chipmakers extended their selloff ahead of this week's Fed decision and a busy slate of economic data and corporate earnings. The S&P 500 ended little changed, the Nasdaq 100 lost 0.3%, while the Dow gained 263 points. Nvidia fell 5% after announcing a $500 billion AI memory chip supply agreement with SK Hynix. Separately, the company guaranteed $250 billion for OpenAI to lease computi...

The ASX 200 started the week on a strong note, up 122 points to 8,894 +1.4%), as most sectors of the market rallied hard, with the exception of oil and gas, as Trump's threat of a massive attack on Iran was wound back and US futures rallied. The banking sector was once again solid, with CBA up 1.2% and ANZ up 1.2%, with the Big Bank Basket at $291.58 (+1.2%). MQG also rallied again, and other financials were back in the green. Insu...

Wall St ended mixed Friday, off best levels, capping a second straight week of declines. Dow Jones up 236 points. S&P 500 flat. Nasdaq down 0.64%. Russell 2000 down 0.35%. Breadth positive by more than 2:1, with equal-weight outperforming the cap-weighted index by ~80bp. VIX down 0.64%. It was Big Chips turn to face the selling pressure while the Mag7 were not able to bounce as a whole.

ASX set to bounce on Monday. SPI futures u...

The ASX 200 fell 67 points to 8,772, leaving the market down around 25 points for the week. Once again, we saw money flowing out of resources, industrials and the technology sector, and back into the relative safety of the banking sector. The Big Bank Basket rose to $288.03 (+1.2%). CBA rose 1.0% and NAB gained 1.5%, while insurers also benefited from higher bond yields, with QBE up 1.4%. MQG continued to push higher following the ...

US stocks closed lower on Thursday amid deteriorating macroeconomic backdrop and renewed doubts over AI spending. The S&P 500 dropped 1.2%, the Nasdaq 100 lost 1.9%, and the Dow Jones shed 507 points. Communication services and consumer discretionary were by far the worst performing sectors while tech was also under pressure. Despite solid earnings, Alphabet fell 6.9% after raising its capital spending forecast, while Tesla tum...

The ASX 200 rose 16 points to 8,839 (+0.2%) after a strong start was derailed by better-than-expected jobs data.

Banks were firm, with CBA climbing 0.4% and the Big Bank Basket up to $284.71 Elsewhere, financials eased back following the news from MQG that CEO Shemara Wikramanayake will step down in November to be replaced by Greg Ward. The stock fell 0.5% on the news. We also saw losses in the insurance sector, with QBE down 1.1% a...

US stocks closed lower on Wednesday ahead of the start of earnings season for mega-cap technology companies. The S&P 500 shed 0.1%, the Nasdaq 100 lost 0.5%, and the Dow Jones inched down. Software stocks came under pressure before Alphabet's (-1.5%) results, with Microsoft down 1.9% and Meta retreating 2.6%. The technology sector remained volatile as investors reassessed whether AI hyperscalers will continue expanding hardware...

The ASX 200 closed up 30 points to 8823 (0.3%), with resources back in favour and the gold sector shining. It seemed as though defensive stocks were sold to fund buying in the likes of BHP, which rose 2.5%, and RIO, up 2.5%. The gold miners had a good day, with NST rallying 3.5% and EVN up 4.3%, alongside solid gains across the sector. We also saw gains in the oil and gas space as crude prices headed higher, with WDS and STO both u...

US stock indices closed higher on Tuesday as a rally in chipmakers lifted the broader market. The S&P 500 added 0.9%, the Nasdaq 100 advanced 1.9%, and the Dow Jones gained 385 points. Semiconductor stocks extended their rebound from last week's rout after strong export data from Taiwan and South Korea reinforced optimism for the sector. Nvidia gained 2% after saying its latest chip designs are reaching customers, while Intel c...

The ASX 200 closed up 2 points at 8,793 after staging a decent rally off the lows as Asian markets turned positive and US futures also moved into positive territory.

Banking stocks eased back, with CBA down 0.4% and NAB, ANZ, and WBC also falling around 1.2%. The Big Bank Basket fell to $281.77 (-0.7%). MQG also took a breather, as did other wealth managers, with HUB down 4.2% despite stronger FUA results.

The industrial space was mi...

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The ASX 200 drifted around to close down 5 points at 8,791, as the banks paused after last week's rise and resources came back into focus. US futures sliding lower sapped early enthusiasm.

The Big Bank Basket was flat at $283.68 (-0.7%) with MQG falling 0.8% and NWL down 2.2%. Insurers were slightly firmer, with QBE up 1.8% and MPL rising 0.6%, although REITs eased, with SGP down 1.0% and GMG off 0.9%. Industrials were mixed again, ...

Wall St fell Friday as a Chinese AI breakthrough rattled semis and oil rose after holding ground for the previous three sessions on further US-Iran escalation. Dow Jones down 407 points. S&P 500 down 1.01%, closing below its 50-day moving average. Nasdaq down 1.40%. Slightly better than futures yesterday were indicating. Russell 2000 down 0.42%. Mag7 down 1.78%. SOX down 1.63%, recovering from a 5.5% opening drop. VIX up 12.19%...

The ASX 200 closed down 44 pts at 8,797 as US futures weakened and Asian technology stocks were hit hard. Down 10pts for the week. Our market saw both the banks and resources come under pressure. The banks gave up ground, with CBA down 0.8% and WBC falling 0.2%. The Big Bank Basket fell to $284.25 (-0.5%) with a late rally helping. Insurers, however, held their ground, while other financials also performed reasonably well, with AMP...

Stocks fell on Thursday as a sell-off in technology stocks overshadowed a raft of solid earnings reports.

The S&P 500 lost 0.51% and ended at 7,533.77, while the Nasdaq Composite declined 1.47% to 25,881.95. The tech-heavy major averages struggled with weakness in semiconductors. The Dow Jones Industrial Average shed 105.67 points, or 0.20%, and closed at 52,552.97.

Chip stocks slid after Taiwan Semiconductor posted an increase i...