US markets bounced overnight; Dow up 560 points, NASDAQ up 2.4%, oil up 3.7%. SPI Futures up 11 points, looking to build on yesterday’s 63-point gain. Get up to speed with Henry’s Breakfast Briefing.
MT Christmas Advent Sale! This works like an advent calendar – we’ll be revealing a new sale offer for you every other day until Christmas and you have two days to redeem each offer. Once it’s gone, it’s gone forever!
Find out what is on offer today.
US markets bounced overnight; Dow up 560 points, NASDAQ up 2.4%, oil up 3.7%. SPI Futures up 11 points, looking to build on yesterday’s 63-point gain. Get up to speed with Henry’s Breakfast Briefing.
MT Christmas Advent Sale! This works like an advent calendar – we’ll be revealing a new sale offer for you every other day until Christmas and you have two days to redeem each offer. Once it’s gone, it’s gone forever!
Find out what is on offer today.
Transcripts: https://otter.ai/u/x4YcC4ePv1mREQNC6NnQzTNaLd0
*PLEASE NOTE: Transcripts are autogenerated and may contain errors.
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SUMMARY KEYWORDS
POINT, BIDEN, NIGHT, YESTERDAY, STOCKS, STRAIN, PROGRAMMES, MANSION, DAY, BRIEFING, MARCUS, BOUNCE, S&P, SLIGHTLY, LISTENING, CLOSING, PODCAST, LOCKDOWNS, EXPECTING, DECEMBER
SPEAKERS
Henry Jennings
Henry Jennings 00:12
Good morning and welcome to the Marcus Today Breakfast Briefing. My name is Henry Jennings It is Wednesday, the 22nd of December and as usual with all the information contained in this briefing, it is general advice only. So please do your own research. Contact your own financial advisor regarding any of the thoughts, ideas or insights in this briefing. And if you need to, you can pause the PowerPoint slide here and read our disclaimer in full and if you're listening on a podcast, then head on over to our website marcustoday.com.au. And you can always sign up for a free two week trial of the newsletter if you're not yet a member.
Henry Jennings 00:49
All right, well SPI futures up only a modest 11 points or 0.15% 7272 Sounds like a cue for a song. Dow Jones though in the US markets bouncing back after five days of losses out of six. Big bounce last night the Biden build back better plan may not be as dead as some thought may be just pining for the fields as Biden and mentioned do seem to be at least on speaking terms. If nothing else, also news last night that the US will roll out 500 million free COVID tests helping and that the US will not put in place serious lockdowns again, at least not at this stage.
Henry Jennings 01:31
Dow Jones up 561 points or 0.1 or 1.6% 35,493 So a good bounce there. But an even better bounce from NASDAQ up 2.4% or 360 points 15,341. The S&P 500 up 81 points in the middle for digital at 1.78% 4649. Good performance there from the S&P 500 The VIX index, as you would imagine, given all this Christmas cheer was down, down 8.13% Down a mere two points 21 that range 16 to 22 Looks like it is holding intact and no one willing to really pay up or get any insurance in the CBOE options in that VIX index calculation spy futures though as I said only up 11 But we did see big rises yesterday CSL was up nearly 5% that accounted for nearly 20 index points on its own. And we did see the Holy Trinity doing very well yesterday, healthcare miners, and those banks all doing well.
Henry Jennings 02:42
Turning to Commodities now we had a big bounce in the oil price as well, which probably won't be music to the ears of Joe Biden, who was hoping that lower oil prices would feed through into lower gasoline prices in the US especially in time for the holiday season. But not happening at the moment. Brent crude up 3.75% $2.68 7420 WTI was Texas up 4.24% $2.89 7112 and gold, wishy washy lacklustre range trading whatever you want to call it 1750 to 1800 remains at that range with the odd push or pull up below or above that level on the odd day but last night down $6.30 or 0.35% to 17 88.29.
Henry Jennings 03:33
In metals last night we had copper up 0.85 nickel at 1.5 aluminium up 3.6 zinc up 2.5 lead down 0.5 and turn up 1.3% So, a better night for commodities last night iron ore though only up 60 cents or 0.49% 123 84 the iron ore price as a result of all this in terms of resource stocks overseas, Freeport McMoRan bouncing back strongly up 4.7% altcar up 6.9 tech though 0.85 down Anglo up nearly 2% Glencore at 1.7 violate up two and a half and Albemarle up 2.8% Their BHP in ADR terms up 2.6 and RIO up 2.6% as well in the $8. Cruising slightly higher 7153 Closing round out closed last night around 7113. So doing quite well overnight but the strength there in the Aussie dollar hitting see the S&P 500 closing at its highs. So a good relief rally there yesterday. On the back of that news. The Biden dimension is still talking and the fact that they're putting out those free tests and also there will be no restrictions and locked down and the view still remains that Omicron is a storm in eight teacup as far as hospitalizations and deaths go although we will know more as the day's progress.
Henry Jennings 05:08
Major stories last night treasuries declined so the yields was slightly higher in the US and oil rebounding, mentioned and Biden speaking on Sunday night in a bid to get those BBB negotiations the build back better bill. Negotiations back on track and mansions offered a bind included accepting a $1.8 trillion price tag, but exclusion that will expanded child tax credits. The problem that Biden has that if he gets approval from mansion, other parts of his party may not agree to those new policies and stimulus programmes that have been put in place.
Henry Jennings 05:47
Schumer is still planning a vote on the bill back better Bill early next year and mansion is pushing the Democrats to look for programmes that can cut are significantly revised in order to meet his demands. The CDC says Omicron accounted for more than 73% of new Coronavirus cases, making it the dominant strain in the US but luckily or good news wise in South Africa. COVID cases have dropped 44% to the lowest since December the sixth but hospital admissions rose only slightly. The WHO though is warning that is unwise to conclude the Omicron is mild all health systems are going to be under strain and it's the spread of the Omicron is prompting fresh lockdowns delayed Reopenings and China are expected to extend its regulatory crackdowns in 2022. South Korean exports rise 20% In the first 20 days of December, and the Japanese government has upgraded its overall economic assessment for the first 17 months.
Henry Jennings 06:46
Here in Australia today. There's really not much out there at the moment and not much news to get excited about the WBC. That's the Westpac leading index for November is out today. In we've seen the South African slump in daily infections talked about that. We have some of the US stocks Nike was up six and a half percent leading gains amongst those down components. They had some good results in us tech stocks. We had the likes of Apple up 0.7 or actually up 1.9% Facebook up actually should be called meta now up 2.7% Google at 1.3 Microsoft up 2.3 Amazon up to Netflix up 1.9.
Henry Jennings 07:35
And the US banks firmer as well. JP Morgan at 1.4 Citigroup up 1.9 Goldman's up 2.3 West, Wells Fargo up to and interestingly as well, especially for after pay shareholders block, the artist formerly known as square is up 7.7% So good news there for the Buy Now Pay Later sector stocks, perhaps 10 year yields in the US 1.49 Australia 1.59 So that gap closing a little bit Germany also slightly better. 0.31% negative 0.31% over in Europe as well. We had some good days their stock 51.6 footsie 1.4 DAX at 1.4 and the CAC 1.4. It seemed that 1.4 was the magic number last night in Europe, Jerry Harvey has says that Australians are shopping like crazy. Certainly from what I've seen out and about in the streets and shopping for last minute Christmas presents for my wife and family. There does seem to be a little bit of I wouldn't say panic buying but it certainly is pretty busy out there. Not too many masks either. Despite the fact that we are expecting or at least the Doherty Institute is expecting worst case scenarios. And this is stressed worst case scenarios of 200,000 cases a day by the end of January. So that's not a good look.
Henry Jennings 09:00
Home sellers are counting prices as listing so that could be good for Rei and domain listings equals profits. And yesterday, a LG on ledger announced that the dream world plans for $75 million resorts similarly to a Disney Land star resort attached to the theme parks in Queensland is not going to happen at least at the moment and they have no agreement with the developer there.
Henry Jennings 09:27
Question of the day, what was your highlight of 2021? Keeping it pretty broad. But I'd love to hear your highlights of 2021. Maybe there weren't any. Maybe there were too many to mention. But what was your highlight of 2021 and it doesn't have to be investment stock related.
Henry Jennings 09:45
That's it for me today. Thanks very much for listening. You can head on over to the Facebook discussion group. We'd love to have your thoughts ideas and insights there. We are closing in on our fun nearest the pin guestimate for the ASX 200 close on Christmas is Eve and I will be looking at those numbers announcing the winner and also be sending them a small bottle of bubbly maybe to celebrate the new year. As far as the podcast go if you're listening to this on a podcast, you probably know that we split this into four streams. You can listen to the Marcus Strategy podcasts, the On The Desk podcast with the boys talking things financial myself talking On The Couch with CEOs and fund managers normally have a few lined up for 2022 or you can listen to this and the End Of Day summary podcast four strains, four streams and four ways to hear all the nuggets of information from Marcus Today but that's it for me today. If you're not yet a member, you can always sign up on the marcustoday.com.au Today your 14 day free trial and what better Christmas present to give to your family.
Henry Jennings 10:53
That's it. Have a great day