Marcus Today End of Day Podcast – Friday 24th March

Marcus Today Market Updates

ASX 200 falls 13 points to 6955 rallying quietly from the open as US futures stayed positive. Resources turn to be stronger today. Modestly. Lithium stocks bounced but not convinced, PLS up 3.8% and MIN up 0.6% with LTR rallying 4.2%. Iron ore stocks better, RIO up 0.2% and gold stocks doing well as AUD gold approaches $3000. EVN up 2.8%, NST up 0.8% and SBM up 4.0%. Oil and gas stocks drifting lower, coal eased. Banks were weaker again, CBA dropping 1.2% with NAB under pressure down 1.6% as the media continues to focus on the banking sector and echoes of the GFC. The Big Bank Basket down to $166.74 (1.2%). MQG giving back a little down 0.8% and wealth managers mixed. MFG up 2.5%. Insurers eased. Industrials mixed, WOW up 0.2% and EDV up 0.3% with ALL still doing well up 1.1% with REITs mixed. Tech eased with the All-Tech Index down 0.6%. In corporate news, EHE attracted the interest of PE with a 300c bid, Block was attacked by Hindenberg and dropped 18.4% on the allegations. WBT returned after its excellent adventure on being front run and dropped 10.3%. Nothing on the economic front locally. Japanese CPI at highs. Asian markets modestly weaker. 10-year yields down to 3.23%
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