Marcus Today End of Day Podcast – Tuesday 17th January

ASX 200 closes down 2 points to 7386 (0.03%) in tight trading ahead of US reopening tonight and more results to come. Resources suffering today after iron ore stocks came under some pressure on Chinese moves. BHP failed to hold all-time highs falling 1.3% with RIO reporting quarterly today down 1.2% and FMG off 1.3%. Gold miners were in profit taking mode after the big run, NCM down 1.8% and NST off 1.5% as some brokers moved to negative recommendations. Lithium stocks remain under some pressure as did base metal stocks, S32 down 2.9% and IGO off 0.9%. Energy stocks mixed, oil stocks better led by WDS up 0.2% but coal not such a merry old soul after all, WHC off 2.3%. Banks gave up some early gains and were the swing in the market with the Big Bank Basket unchanged at $187.95 . Insurers slightly better but fund managers gave up yesterday’s gains. MQG down 0.4%. Defensive industrials firmed, CSL up 1.3% and RMD rallying 1.7%. WOW COL and EDV all having a good day as bargain hunters around. Tech stocks eased, XRO down 2.3% and WTC down 1.0%. The All-Tech Index down 0.7%. In corporate news, JBH showed that retail is not dead, following SUL yesterday. DTL rose 4.3% on an earnings update and HUB fell 4.5% on a $4.4m impairment. On the economic front, Chinese GDP came in slightly better than expected. Still not great though and shows stimulus is needed post CV19. Asian markets mixed Japan down 1.2%, China off 0.2% and HK down 1%. 10-year yields 3.60%.

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