Marcus Today End of Day Podcast – Thursday 24th August

Marcus Today Market Updates

ASX 200 rose 34 points to 7191 (0.5%). A solid grind higher with banks in demand. The Big Bank Basket up to $174.99 (+1.1%). CBA the standout with a 1.2% gain and WBC continues to find friends post-result up 1.4%. MQG had a solid day today up 1.8%, with insurers flat. MPL up 2.6% with results pleasing. REITs rallied as GMG up 0.5% and SCG up 1.9%. Industrials mixed, TLS eased back 0.7%, Tech better led by WTC bouncing 8.1% as buyers nibbled, the All-Tech Index rallied 2.4% as XRO rose 3.5% and ALU up 4.9%. Nvidia results perking up the whole sector. Old skool platforms doing better REA up 2.4%, and SEK rallying 1.4%. Staples still suffering a little. Healthcare slightly firmer, with CSL up 0.3% and SHL rallying 0.6%. RHC suffered as earnings disappointed, down 12.0%. In resources, iron ore stocks muted, Lithium stocks better, LRS leading the charge up 4.5%. PLS up 2.4%, and gold miners better. NST reported good results up 5.2%. Oil and gas bounced with WDS up 1.5% as strike now looks unlikely. In corporate news, plenty of action, QAN up 0.8% on record profits. APA fell 3.4% after the capital raise, IFL fell 10.7% on its underwhelming numbers. PTM also dipped 4.6% on results after hours last night. NEC slightly better than forecast, up 0.5%. CGC fell 10.8% on a trading update and worries on takeover bid, SIQ led the salary sacrifice sector lower on weaker-than-expected results, down 10.0%. Nothing on the economic front. Asian markets catching the Nvidia tailwinds up across the board. 10-year yields falling hard too. Dow Futures up 43 points. Nasdaq Futures up 186 points.
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