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 – Friday 13th January
ASX 200 closed up 48 points to 7328 (0.7%) as the rally started to run out of juice in the short term. Banks took up the baton as the Big Bank Basket rose to $186.05 (+1.2). CBA up 1.3% and NAB up 1.6%. MQG rallying another 0.7% with insurers better, QBE up 0.8%. REITs continued to push higher with SGP up 0.5%, SCG up 1.4% and Fund Managers also better, GQG up 3.3% and MFG up 2.6%. Industrials were strong, TLS up 0.3%, WES up 0.7% and TCL ahead by 1.1%. ‘Old Skool’ platforms rallied too, REA up 3.6% and SEK up 3.9%. New tech better, WTC up 1.4% and XRO up 0.6%. The All-Tech Index up 1.2%. Resources were mixed, BHP better by 0.5% as it eyes $50. RIO up 0.9% and gold miners better but hardly the stuff of dreams today. Lithium stocks under some pressure with PLS down 4.1% and IGO off 1.9%. Energy stocks up with WDS up 1.2% and STO up 2.4% with coal stocks bouncing YAL up 1.6% and NHC up 5.1%. In corporate news, 360 gave us a business update with some job cuts helping sentiment up 11.1%. In economic news, home loan approvals tumbled YoY 24%. Housing lending fell 3.7% in November. Asian markets, Japan fell 1%, China up 0.8% and HK up 0.2%. 10-year yields up to 3.59%. Dow futures down 63 points, Nasdaq futures down 41 points.
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