Market Updates
A twice daily podcast from the team at Marcus Today, the stock market newsletter for investors, bringing you up to speed with the latest stock market, financial, and business news. Published just before market open and after market close (AEST), Monday to Friday.
Market Updates
Marcus Today End of Day Podcast – Wednesday 11th January
ASX 200 rose 64 points to 7195 (0.9%) in a good bounce led by resources. Even a better CPI number couldn’t hold the Mustangs down. Gold miners bounced back after falls yesterday, iron ore miners BHP, FMG and RIO all better by close to 2% and even lithium stocks had a day in the sun. PLS up 2.8% and AKE with a broker upgrade up 5.1%. Base metal stocks in demand. S32 up 1.1% and IGO up 5.2%. Energy stocks better too, WDS up 1.5% and BPT doing OK. REITs did well despite no move on the yields, GPT up 1.2% and GMG up 2.9%. E-commerce is the place to be apparently. Industrials were firm but unexciting. Tech better with WTC up 1.2% but XRO falling 3.3% on UK tax changes. ‘Old skool’ platforms were up, REA up 2.4% and CAR up 2.9%. Banks were becalmed with the Big Bank Basket at $180.90(0.3%). Insurers improved, and Fund managers also doing better, GQG up 2.0%. In corporate news, SQM is moving in the WA lithium race with a possible 20% stake in AZS. On the economic front, busy day, retails sales boosted by Black Friday, CPI above expectations, there goes the pause and job vacancies down a little but still pretty robust. Asian market better, and 10-year yields around 3.71%. Dow futures up 28 points.
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