End of Day Report – Thursday 18 July: Jobs Data Puts Rate Rises Back on the Cards. ASX 200 drops Only 21 points.

ASX 200 slips 21 points to 8037 (-0.3%) after the jobs number put rate rises (yes, rises) back on the table. Relatively calm markets as US futures rose and chip stocks soured again in Asia. Banks eased back, CBA down 0.6% and the Big Bank Basket slipping to $228.89 (-0.4%). Other financials eased QBE down 0.4% and CGF off 1.6%. REITS sagged, SGP down 1.3%, SCG off 1.8%, and GPT falling 3.7%. Industrials were mixed, DMP crashed 8.2% as it closed stores in Japan and France. Retail were mixed, SUL up 1.0% and HVN down 0.4%. Tech eased as NASDAQ fell overnight, WTC copped a 6.3% fall, and the All-Tech Index dropped 2.5%. Resources once again in the naughty corner. FMG down 1.4% on its hydrogen move and layoffs, lithium stocks continue to be depressed, gold miners up despite a slight slip in bullion and uranium stocks whacked, PDN down 4.2% and DYL off 5.8%. Oil and gas stocks slightly better. In corporate news, ZIP rose 11.2% after its $200m placement, AX1 rose 10.2% on store closures,and EVN ran 2.8% on its quarterly. On the economic front, unemployment rose to 4.1%, but with participation rising and 50k jobs created, rate rises cannot be ruled out. In Asian markets, Japan -1.6%, China +0.2, and HK +0.5%. 10Y yields steady at 4.241%. Dow and NASDAQ Futures higher, gaining 0.1% and 0.4%, respectively. 

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