Marcus Today Market Updates

Marcus Today End of Day Podcast – Wednesday 8th February

February 08, 2023 Marcus Today
Marcus Today Market Updates
Marcus Today End of Day Podcast – Wednesday 8th February
Show Notes

ASX 200 rallies 26 points to 7530 (0.4%). Results in focus. BLD shows pricing power up 12.8% with CSR following in its wake. Resources attracting buyers again. BHP up 0.2% and RIO up 1.1% with the gold miners mixed, NCM up 2.6% and NST better by 1.0%. Lithium stocks back in demand, PLS up 3.8% and AKE up 2.9% with LTR doing well too, up 3.8%. Coal stocks eased back after solid gains yesterday, oil and gas mixed, WDS up 0.6% and STO down 0.3%. In the industrials, healthcare slid led by CSL off 0.6% and SHL falling 3.0%. REITs mixed with GMG up 0.1% and GPT down 0.9%. Tech mixed too. CPU down 0.4% despite yields pushing higher. The Big Bank Basket rose to $192.07(0.3%). NAB the standout up 1.0%. Insurers doing well as SUN reported and rose 4.6% with QBE up 0.8% and IAG up 2.8%. MPL also putting in a solid day up 2.0%. Mixed session in staples and retail, DMP falling 1.2% and BXB down 2.0%. In corporate news today, AMC fell 3.3% on results, ELD had to reply to an ASX please explain, down 5.9%. BHP had to shut its iron ore production due to a fatality. WGO finally fell to Gina after STX threw in the towel. CHC back in acquisition mode this time in Canberra and SUN kicked the lights out with a big jump in insurance premiums behind a profit jump, up %. Nothing on the economic front today and Asian market mixed. 10-year yields heading higher again up to 3.62%. Dow Jones futures down 22 points and NASDAQ futures up 4 points.

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