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
End of Day – Wed 19 Jan
The ASX fell 76 points to close at 7333 (1.0%) after trying valiantly to rally at lunch, giving up the ghost as the US futures markets turned south. Banks weighed heavily with CBA down 1.5% NAB off 1.2% and MQG falling 3.7% in sympathy with Goldman Sachs. The Big Bank Basket fell to $178.20. Insurers were relatively unchanged despite 10-year yields hitting 2%. Fund managers also on the nose with MFG down 0.9%, PNI down 4.1% and ASX off 2.1%. Healthcare in casualty as CSL fell below the SPP price down 1.2%, RHC down 1.8%, RMD off 4.4% and FPH down 3.1%.
Industrials also falling although less aggressively. WES fell 1.0%, TLS down 1.6%, TCL off 1.5% and RWC down 4.0%. Tech falling again as Nasdaq fell hard, APT down 2.2%, XRO down 2.4% and the All-Tech Index off 1.7%. MP1 was a casualty today of a business update crashing 16.2%. Miners staggered as lithium ran out of puff, PLS down 3.9%, AKE down 6.9% on a broker, iron ore miners were off with FMG falling 1.5% and BHP hanging in ahead of the crucial vote. Energy stocks rallying hard as the oil price continues to hold firm. STO up 1.8% and WPL up 0.9%.
In corporate news, BRN announced a US patent rising 14.5%, HUB up 2.1% on a FUM update. In economic news, the Westpac-Melbourne Institute Index of Consumer Sentiment fell by 2.0% to 102.2 in January from 104.3 in December. Asian markets weaker with Japan down 2.4%, HK managed to stay flat and China off 0.6%.
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