Marcus Today Market Updates

Marcus Today End of Day Podcast – Friday 20th January

January 20, 2023 Marcus Today
Marcus Today Market Updates
Marcus Today End of Day Podcast – Friday 20th January
Show Notes

ASX 200 finished the week well up 17 points to 7452 (+0.2%) at a nine-month high, with big resources driving things higher. BHP heading up on broker positivity up 0.5% with RIO up 1.0%, gold miners doing well too, NCM up 2.4% and NST rallying another 3.2%. PLS was the standout after its huge cash pile just keeps on growing, up 13.2% and MIN up 1.8%. In lithium we trust, except for LTR which cratered 8.3% on a Kathleen Valley update with some cost blowouts (more funding required?). Base metals were firm, S32 up 0.2% and LYC up 2.2%. Oil and gas stocks continuing higher, WDS up 0.7% and STO seeing friends after quarterly, up 1.5%. Coal stocks soaring as WHC delivered rising 6.2%. Banks stuck with the Big Bank Basket unchanged at around $189.01. Other financials eased back, money managers down MQG off 0.7% and ASX off 0.8%. Insurers slightly better. Industrials mixed, healthcare saw some profit-taking as COH dropped 1.2% and RHC down 1.0%. Tech eased, XRO down 1.1% and Staples down. WOW off 0.5% and ALL off 1.1%. In corporate news, KAR up 3.4% on Brazilian permits, CCX down 7.7% on sales drop and SUL in trouble over pay. In economic news, Japanese inflation at its highest level in 40 years. Asian markets gearing up for the Rabbit, Japan up 0.5%, China up 0.5% and HK up 1%. 10-year yields steady at 3.40%. Dow futures up 39 points and Nasdaq up 43 points.

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