Marcus Today End of Day Podcast – Monday 31st July

Market Updates

ASX 200 closed up 7 points to 7410 (-0.1%) in a narrow day of trading, boosted by a lower US inflation rate. Resources mixed after China’s manufacturing activity shrank for a fourth month this year. Iron ore miners slightly higher S32 up 0.8%, BHP up 0.5% and RIO up 0.4%. Energy continuing its bull run as Crude Oil has its best month in more than a year. STO up 0.3% and ALD up 1.2% Gold lower again as the USD climbs, NST -0.5% and SLR -20.2%. Banks mostly flat, with the Big Bank Basket up to $182.22 (-0.2%). MQG down 1%. REITS rose slightly. Tech mixed today, The All-Tech Index up 0.3%. SQ2 up 2%, and XRO up 0.1%. In corporate news, LYC gained 2.6% after record quarterly production of neodymium and praseodymium. ORG dropped 0.6% after reporting an 11% drop in revenue. SLR down 20.2% on reports of idling its Sugar zone mining and processing activities in 2024. Quiet on the economic front, the Melbourne Institute's Monthly Inflation Gauge indicated that prices accelerated to 0.8%, rebounding from June's 10-month low of a 0.1% rise. Asian markets gaining as China promises further measures to help out the economy and boost the property sector. Japan up 1.4%, HK up 1.2%, China up 0.3%. Australian bond yields mixed, 10Y yield up 0.4bps to 4.06% and 2Y yield down 0.7bps. Dow Jones futures down 31 points and Nasdaq futures down 20 points.
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