Marcus Today End of Day Podcast – Friday 3rd March
Manage episode 356874946 series 2991632
ASX 200 finished the week on a solid note up 28 points to 7284 (+0.4%) as both banks and resources rallied. Fourth week of losses though. The Big Bank Basket rose to $172.48 (+0.7%). CBA bounced 0.7% and NAB in demand up 1.1%. MQG a more modest 0.3% with insurers easier and fund managers mixed. MFG up 1.1% and PTM down 0.8%. Industrials were better with REITs losing some ground as 10-year yields hit 3.9%, Tech up slightly with WTC up 0.7% and XRO up 0.5%. Healthcare better CSL up 0.4% and RMD doing well up 1.5%. Staples better and TLS doing well up 1.2%. In the resources, BHP continues higher, up 0.6%, RIO up 1.6% and FMG missing the memo down 1.3%. Gold miners eased and rare earths under pressure following the Tesla day and their new motors being rare earth free. Lithium stocks a little mixed, PLS up 2.5% recovering after div and IGO down 0.4%. Oil and gas better, WDS up 0.5% and STO up 1.3%. In corporate news, not much, DOW chair has thrown in the towel, QAN announced it wanted to hire back all the pilots and engineers it lost in Covid. Down 0.3% after news. In economic news, first-home buyer loans hit the lowest level since February 2017. Asian markets better, Japan up 1.2%, China up 0.3% and HK up 0.8%. Dow futures down 23 points. NASDAQ futures down 26 points.
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