The ASX 200 fell another 69 points to 8428 (0.8%) for a weekly loss of around 2.2%. Today we saw the banking sector come under a little pressure. CBA fell 1.0% and the Big Bank Basket dropped to $298.51 (%). NAB was the biggest loser off 2.3%. Financials were mixed, GQG rose 2.4%, SOL fell 1.0% and HUB dropped 2.4%. REITs were flat lining, industrials mixed, WES slipped another 0.8% with retail under pressure, JBH down 4.1% and WOW dipping 0.9% after defensive buying shifted. TLS off 0.2% and SGH falling 2.4% with QAN still falling 1.1%. Tech was mixed, WTC and TNE better with the All-Tech Index down 0.2%.

Resources were down but not out today. BHP and RIO slid, off 1.8% and 2.9% respectively, lithium stock finding their feet with EV demand expected to grow on oil pressures. Gold miners eased but not dramatically, EVN up 1.6% and GGP off 7.3% with GMD actually 2.2% better. BSL rallied 4.3% with PLS stabilising. Up 2.4%. Coal stocks better again with WHC up %. WDS pushing ahead again, up 1.0% but STO flat. Uranium stocks mixed.

In corporate news, COL rallied another 0.8% on fuel levy news, FLT made a UK acquisition and PMV fell 4.3% after a mixed first half. Smiggle seems to be struggling.

Nothing on the economic front.

10-year yields higher at 5.0%.

Asian markets mixed on higher oil prices, Japan closed. HK down 0.7% and China up 0.8%

US Options and Futures expiry tonight. Dow Futures up 98 Nasdaq futures up 17.

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US equity indices pared significant session losses on Thursday as the S&P 500 and Nasdaq ended down just 0.2% while the Dow Jones declined 0.3% following a recovery from four-month lows. Volatility across asset classes eased as US oil retreated toward $94 per barrel after Israeli Prime Minister Benjamin Netanyahu stated that Israel is assisting the US in reopening the vital Strait of Hormuz. These developments tempered earlier stagflation fears as investors weighed comments from US President Donald Trump and Treasury Secretary Scott Bessent regarding diplomatic efforts to restore global energy supply chains. In corporate news Micron Technology shares fell 3.8% despite a strong revenue forecast as investors focused on high production spending plans while other tech heavyweights like Meta (-1.4%) and Nvidia (-1%) also faced pressure. Treasury yields rebounded from their worst point of the session as bonds bounced from lows following these geopolitical updates.

SPI down 5 - Oil slips - Gold and commodities fall

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The ASX 200 fell 143 points to 8498 (1.7%), its lowest level in four months. $265bn has now been wiped off the index since the halcyon days of February. It is all about the oil price and the realisation that this war could really drag on longer, and Trump seems to have lost control of the narrative, even to the point of distancing himself from Israeli actions. Oil heads high, equities head lower. Resources bore the brunt of the selling as gold miners were thrown out with the bathwater, NST fell 9.5% and NEM off 5.8%. All sectors in metals under pressure. The big three iron ore stocks fell hard, with BHP down 3.5% and FMG falling 3.4%. Lithium stocks and rare earths also collapsed with only oil and gas doing ok. WDS up 7.2% and STO rising 3.4%. Even BPT was better. Uranium stocks slid, coal stocks better, NHC up 5.3% and WHC up 2.3%.

Banks held the line, the Big Bank Basket down to $302.13 (-0.2%). Supermarkets too showed their defensive qualities, though retail fell hard. JBH down 2.4% and WES falling another 2.1%. Healthcare also sold off, CSL down again and RMD fell 1.8%. Tech crumbled again, WTC off 7.0% and the All-Tech Index down 2.6%.

In corporate news, LYC lost 2.1% despite reporting the first production of samarium oxide at its Malaysian processing facility. BOE dropped 6.8% even as it increased the uranium resource at its Gould’s Dam and Jason’s satellite deposits in South Australia.

And ORA dropped 2.5% as it appointed Paul Victor as CFO.

In economic news, jobs data showed a solid 48,000 gain in employment, but the unemployment rate rising to 4.3%. The gain in employment during the month was part-time, which rose by 79,000 jobs, while full-time employment fell by 30,000.

10-year yields higher at 4.97%.

Asian markets fell on higher oil prices, Japan off 3.2%, HK down 1.7% and China down 1.0%.

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The ASX 200 rose 26 points to 8641 (0.3%) as confidence increased for an end to the war as oil prices fell slightly in Asia. A mixed session with the banks steady as CBA rose 0.6% with the Big Bank Basket steady at $302.98 (+0.1%). MQG jumped 0.9% on news of a Kuwait pipeline deal not proceeding. Other financials slightly firmer, MFG up 1.9% and GQG up 1.8%. Healthcare was slightly better with SIG up 0.8% and RMD gaining 0.8%. CSL still struggling down 2.2%. Tech mixed, XRO up 2.3% with WTC falling 1.3% and the All-Tech Index up 0.7%. Utilities were firm.

In resources, BHP rose 0.7% on its succession plan, rare earths stocks mixed, LYC up 1.9% and ARU up 1.9%. Lithium stocks slid, CXO announced a funding package to allow its project to reopen. Gold miners were mixed, BGL up 1.3% and NST gaining 1.4% with WGX falling 1.1%. Coal miners found some friends, NHC up 5.9% and uranium stocks pushing a little higher. PDN up 1.2% and BMN rising 2.2%.

In corporate news, SGM rallied 9.9% on a positive trading update, NVX fell 3.6% after a Nasdaq warning on closing price requirements. WDS has a new boss, same as the old boss.

Nothing on the economic front as banks, and other raised rates in unison today.

10-year yields lower at 4.89%.

Asian market better on oil prices, Japan up 2.6%, HK down 0.2% and China down 0.3%. Oil slightly lower in Asian trade.

US Futures: Dow up 225 Nasdaq up 130

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A positive night on Wall Street even though Brent oil rose 3% as the Iranian conflict drags on indefinitely. Sentiment around travel and consumer spending got a boost after airline stocks Delta and American Airlines raised revenue guidance for the current quarter. The S&P500 rose 0.2% and the Nasdaq 0.4%. The Dow lifted 47 points. The VIX fell back 4.8% to 22.3.

Gold was steady, around US$5011. The fact that it’s not spiking suggest the market is not panicking around the Iranian situation. Bitcoin was steady too. Will they move together or keep to their historical zig and zag?

SPI Futures up 11 points. ASX set to open higher.

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The ASX 200 rose 31 points to 8614 (0.4%) despite the RBA raising rates as expected. The vote was close though, 5-4, a dovish hike. Banks were firm on the rate hike, CBA up 0.3% and the Big Bank Basket up to $302.60 (0.5%). Insurers better, even REITs firmed with GMG up 1.2% and SCG rising 1.1%. Healthcare under pressure, RMD falling another 0.6% and SIG down 1.1%. Industrials mixed, WES down 1.6% and ALL off 2.0% with REA and CAR falling again. Tech remains on the nose, WTC down 3.0% and XRO off 1.7%. The All -Tech Index down 1.4%.

In resources, iron ore stocks steadied, BHP up % and gold miners showing gains with bargain hunters emerging. EVN up 3.7% and GGP up 3.9%. Lithium and rare earths slid slightly, PLS down 1.9% and LYC off 4.6% on profit taking. Oil and gas mixed, STO up WDS down. Coal stocks under pressure with uranium stocks slightly firmer.

In corporate news, PPM fell 14.9% as CGF amended its NBIO downwards. PXA also slightly firmer on a deal to divest ‘Informed Decisions’. WAF rose 5.8% after stronger results and OBM gained on a broker upgrade.

On the economic front, the RBA increased rates by 25bps as anticipated. Close call though. Consumer confidence has fallen to the lowest since March 2020. The ACCC is talking to fuel companies too.

10-year yields steady at 4.98%.

Asian market weaker on oil prices, Japan up 0.5%, HK up 1.0% and China up 0.3%. Oil slightly higher in Asian trade.

US Futures: Dow down 95 Nasdaq down 57

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Stocks rose on Monday, while oil prices pulled back as Wall Street tried to recover from another losing week, with investors monitoring the latest developments of the Iran war.

The Dow Jones Industrial Average added 387.94 points, or 0.83%, closing at 46,946.41. The S&P 500 rose 1.01% to end at 6,699.38, and the Nasdaq Composite gained 1.22% and settled at 22,374.18.

Meta shares gained more than 2% on a report — which the company has called “speculative” — that it is planning to lay off more than 20% of its workforce. Additionally, Nvidia shares rose more than 1% as its GTC conference kicked off Monday.

SPI up 66 – RBA in focus – Gold flat – Oil falls

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