Market Updates

End of Day Report- ASX 200 up 73 points. US CPI Tonight. Uranium Stocks Shine.

Marcus Today

ASX 200 rallied towards all-time highs, up 73 points to 7890 (0.9%) as rate cuts seem to be back on the agenda. US CPI tonight and some caution creeping in.  As usual, the banks led the charge higher with CBA hitting a new high, the Big Bank Basket hitting $223.09 ().  Insurers continue to push higher with QBE up 1.1% and SUN up 1.4%. MQG lagging a little with ASX up 1.7%. REITs strong again, GMG up 1.1% and SCG up 1.6%. Industrials also firm although TLS unchanged after recent gains, WES up 1.3% and BXB up 1.3%. Healthcare better, CSL pushing 1.5% higher with RMD up 0.9% and TLX doing very well up 10.5%. Tech better too, with XRO up 3.4% and 360 rallying 2.2%. Resources finally finding some friends despite a lack of impetus in iron ore, BHP up 0.9%, RIO up 0.2%, and FMG up 1.9%. Gold miners also in demand, NST up % and EVN up %, with uranium stocks doing very well, PDN up 6.2% and BOE up 6.1%. Lithium stocks saw some bargain hunting, PLS up 2.7% and MIN up 2.5%. Oil and gas stocks better, WDS up 1.2% and KAR up 0.8%. In corporate news, TLX had a good day on changes to US regulations, the ACCC has started initial proceedings against The Good Guys. Not so good now. In economic news, June CPI tonight in the US, Trump will speak at a Bitcoin event. He wants all remaining crypto to be Made in the USA. In Asian markets, China rallied on short seller news, up 1%, HK up 1.5%, and Japan pushed ever higher to 1.1% better.

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