Marcus Today End of Day Podcast – Tuesday 15th August

Marcus Today Market Updates

ASX 200 rallied 28 points to 7305 (+0.4%) as results dominated today. Big names hitting the boards, CSL, COH, and NAB trading update. The banks were solid but unspectacular with the Big Bank Basket rising to $179.26 (+0.1%) after NAB quarterly update. NAB up 1.3% on a new buyback. Insurers bounced back on higher yields with QBE leading the charge up 1.3%, SUN up 1.6%. Healthcare in recovery ward today after CSL beat lowered expectations, up 3.7% and COH kicked 5.7%. RMD continue to push higher after recent falls up 1.3% and RHC doing well too. REITs mixed, GMG down 0.6% and SCG up 0.7%. Industrials mainly positive, WOW up 0.4%, TCL up 0.4% and SVW putting on another 1.0%. Tech better too, WTC up 1.3% and XRO doing well up 2.0%. The All-Tech Index rose 1.1%. Resources once again a little unloved. Big miners struggled, BHP down 0.3% and RIO off 0.4% but FMG found some friends, up 1.0%. Lithium stocks remain under pressure, PLS down 3.4% and MIN off 0.9%. Gold miners slid, led by NCM down 1.5% and NST down 1.9%. Oil and gas stocks steady, coal miners a tad higher, WHC up 2.7%.
In corporate news, a deluge of large-cap results today, SEK disappointed on growth options falling 4.3%, 360 produced some very positive results running 12.3% higher. Not so for TPW falling 4.5% on numbers, GUD up 14.9% on Gud results. LKE rallied hard on Kachi test results, up 16.7% and MAY fell 33.3% on Cuban disappointment.
In economic news, RBA minutes and wages growth numbers. Asian markets mixed as China cuts some rates and Japan shows a 6% GDP rate. 10-year yields pushing higher again up to 4.27% on RBA Minutes. Dow futures up 4 points. NASDAQ futures up 45 points.
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