Marcus Today Market Updates

Breakfast Briefing – Mon 23 May

May 23, 2022 Marcus Today
Marcus Today Market Updates
Breakfast Briefing – Mon 23 May
Show Notes Transcript

SPI Futures are down 15 points following a volatile session in the US on Friday night. The Dow finished up 0.03% on a late rally, the S&P finished up 0.01%, and the NASDAQ took a hit, down 0.3%. Catch up on the latest news over the weekend with Henry’s Breakfast Briefing.

  • ASX 200 SPI Futures down 15
  • Dow rallies hard in final hour to close up 9 points (0.03%)
  • Nasdaq down 34 (0.3%)
  • S&P500 up 1.
  • Oil up 0.8% Gold up 0.2%
  • Iron ore up 6.6% on Chinese rate cut Friday.

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


Marcus Today offers information that is only general in nature. It does not take into account your personal financial situation, needs or objectives. Nor does it take into account the financial needs of any specific person. You should consider your own personal financial situation and needs or seek financial advice before making any decisions based on this information. For more information please see our Financial Services Guide.

*PLEASE NOTE: Transcripts are autogenerated and may contain errors, especially Stock Codes and Names.


Henry Jennings


Henry Jennings  00:00

You are listening to the Marcus Today daily market update and this is just a small part of the newsletter that helps members make better investment decisions. So for more in depth analysis of what's happening in the market on a daily basis, you can sign up for a free trial at the markets today daily stock market newsletter, no credit card required and to get access to the entire newsletter, and include stock market recommendations, investment strategy, opinion pieces, education articles and investor tools, not only on big companies, but also on small caps and emerging technologies. If you're interested, you can sign up on the link on the description here or you can head on over to And we're really looking forward to having you on board part of the Marcus Today community.


Henry Jennings  00:59

Good morning and welcome to the Marcus Today Breakfast Briefing. My name is Henry Jennings It is Monday, the 23rd of May. And as usual, with all the information contained in this briefing, it is general advice only. So please do your own research. Contact your own financial advisor regarding any of the thoughts, ideas or insights in this briefing. If you need to, you can always pause the PowerPoint slide here and read the disclaimer in full. And if you're listening on podcast, wherever you are in this wonderful world of ours, you can head on over to the markets delay your website. Read the disclaimer there and of course, catch up with all the other goodies we have on the website too. 


Henry Jennings  01:34

All right, well, a little bit of a mix session in the US last night it's safe to say it was slightly better picture at the close than it was during the day. The Dow Jones closed up nine points or point oh 3% But it was down at one stage 617 points at its lows. It had a high of 263 points up and a low of seven 617 points down so another 900 point range day and it did slip into the official bear market territory briefly before a rally spared its blushes but closing out nine points or point oh 3% and NASDAQ down at point three of a percent 34 points 11,355 and the s&p 500 pretty much unchanged. 3901 up a whole point or point oh 1%. Still a lot of complacency though you would have to say in the US the VIX index despite all that volatility, near 900 Point trading range. The vix index was unchanged or point two 7% Better, slightly better 29 points at the moment 29.43 To be exact SPI futures showing a loss of 15 points, or point two 1% 7129.


Henry Jennings  03:00

In commodities on Friday, we saw the oil price better. We saw the Brent crude price up at seven cents to 112 91.78%. Better, the WTI price slipping back below that Brent crude $112.58 Up 37 cents, or point three 3% gold at $4.50 or point two 4% to 1845 spot seven zero iron all the big winner of $8.20 534 25 6.55% Better that was on the back of the Chinese cutting their rates on Friday. So that move we certainly saw in our market on Friday. So we'll wait and see what the Dalian futures do today. But certainly the market taking heart from that move from China to stimulate their economy. The Aussie dollar 70.57 at the moment so nothing very dramatic changing really on the Aussie dollar despite the shock election result.


Henry Jennings  04:03

Looking at other commodities last Friday copper pretty much unchanged nickel down 1.5% Aluminium at 1.1 zinc down point three lead had a good day they were up three and a half percent and Tin up point for. Mixed results really for mining stocks. We have BHP up 2.2% Rio up 2.4% In ADR terms we have Freeport McMoRan, down 1.1 Alcoa down 2.4% tech down half a percent Anglo up 1.6 Glencore down point one valet on or of course, up 3.1% And Albemarle in the lithium space down at 1.1%. Here you can see the s&p 500 It's wound It dived. It recovered well, it recovered at least close pretty much unchanged, but certainly that swoon throughout the day. Not a good sign volatility still to the max in the US. And still the downside seems to be more prevalent than the upside.


Henry Jennings  05:07

In the US some of the stocks moving and shaking Apple were up point one seven metre at 1.2. Google down 1.3 Microsoft down point to Amazon up point to Tesla fell another 6.4% Last night. Or sorry Friday night Netflix up one and a half JP Morgan and all the banks modestly lower Bank of America the worst of the pack down 1.7% and block the artist formerly known as square down 4.2% In the US trade.


Henry Jennings  05:40

All right major stories of course, today, it will all be about the election. To some extent Scott Morrison defeated Of course, Labour leader Albert Anthony Albanese to be sworn as Australia's next prime minister I think is the 31st prime minister and heading off to the quad meeting with Penny one in tow. Biden says us prepared for possible North New North Korea nuclear test and Biden urging home diet and Samsung to embrace union workers. Iran six revise gas project with Oman ahead of a racy visit, and Manchester City's clinches sick the Premier League title in 11 seasons they scored three goals in five minutes. And Ukraine latest Solinsky sees high casualties in East Shanghai looks to categorise parts of city low risk for COVID and COVID. hits Apple again disrupting office plans and supply chain not really too much on the major stories over the weekend as you can see.


Henry Jennings  06:40

What to expect today. Well of course, we always have a little bit of local colour RBI assistant Governor Christopher Kent is speaking Clark as he's known, and other six us strategies have slashed their year end calls for the s&p 500 this month. The gap between the highest and lowest projection sits at 37%. That is a big, big difference there. Over in Europe, we had some better markets on Friday, but obviously it wasn't enough to pick the us up from the canvas. Although it did have that rally late in the day stock 50 up point for footsie at 1.2 DAX at point seven CACs up point to 10 year yields in the US 2.78 Australia 3.31 Germany point nine four so all easing back, safe haven money heading into the US dollar still.


Henry Jennings  07:33

And CBA has kept his economic forecast the same despite Australia's change of government, Jeff Wilson through w a r war. What is it good for, has joined the fray for AGR with a small stake and looks to block D merger is talking about his concerns with the amount of money that the merger is going to cost and the franking credit implications that that will have for investors and Medibank. Private has seen some private equity interest in its healthcare service business, but has turned it down. Santos major oil and gas producers from North America are believed to be lining up for the sale process for a stake in the Alaska based peaker projects. And IPL this morning reported their numbers supporting net profit after tax 380 4 million for the first half, which is up 348 million from the 36 million who reported last time interim dividend of 10 cents.


Henry Jennings  08:29

ut our market today is going to be cautious to slightly easier. We'll probably wait and see what the iron ore futures do in terms of their movement in Asia. But certainly nothing from the Saturday's election is likely to spook the market today. And in more than the Dow fall than a rally would do normally, commodity stocks may come under a smidge of pressure. They did have a pretty good run on Friday, so we could see a very cautious start to the week. And certainly all eyes on that iron ore price ever kicks again and see if Asian markets will take heart from those Chinese rate cuts that we saw on Friday to stimulate their economy.


Henry Jennings  09:12

Question of the day today, as the election result changed your view of the investment outlook. Most commentators seem to believe that there's really no difference between the liberals and the Labour Party in terms of policies. And we're about to find out now that Labour have been elected and Anthony Albanese will be the 31st Prime Minister of Australia. But has that changed your view on the investment outlook for the markets at the moment? 


Henry Jennings  09:39

Well, that's it for me today. Thanks very much for listening. You can head on over to the Facebook discussion. We'd love to have your thoughts, ideas and insights, as always, there it's a fantastic group three and a half 1000 members, members helping members is our motto. And of course if you're listening to this on a podcast, it's three other podcasts I urge you to tune into the Marcus Strategy podcast. Post, which is out on what's their market meeting, podcast, the fly on the wall look at what we're talking about and discussing in our morning meeting the On The Desk podcast with the team in Melbourne talking about all things financial, and my On The Couch podcast last week, I did release the James Hawkins podcast from L one capital, who runs their Catalyst Fund a very interesting chat with James. This week, I'm talking to the CEO of a uranium company. So I'm looking forward to that. And all the way from Europe, where he currently is at the moment. So that's going to be an interesting one to catch up with him talk about uranium market and the implications for his company. So that's going to be an interesting podcast. And that will be out on the weekend after I've edited etc. And if you missed the Ask the analysts session on Friday, and it was a great session, I got to say thanks very much for everybody that tuned in and asked some fantastic questions on some great stocks. So really good session there. And if you haven't watched it already, there's certainly a recording there. I'll put the link in the newsletter, and you can watch the recording in your own time. 


Henry Jennings  11:09

But that's it for me today. Thanks very much for listening. And have a great day and may the trading Gods be with you.