Marcus Today End of Day Podcast – Tuesday 11th October

 ASX 200 closed down 23 to 6645 as early gains evaporated in thin, convictionless trade. US futures turned south, and bond yields rose with the 10-year heading over 4%. AUD under pressure again. Banks turned lower with the Big Bank Basket down to $169.04 (0.6%). CBA and NAB on the nose. MQG fell 0.6% in a late sell off, insurers unchanged. Healthcare stocks also held up just CSL down 0.1% with RHC up 1.0%. Industrials were firm but idle, TLS rose 0.3% on its AGM and restructure plans. Tech slipped slightly but no real damage, WTC off 1.3% and the Index down 1.0%. Resources gave up some early gains as BHP slid 0.4% and FMG fell 2.2%. S32 eased 2.9% with lithium stocks remaining well sought, PLS up 0.6% and MIN up 2.8%. Energy stocks fell harder with WDS down 2.4% and STO off 1.3% with coal not such a merry old soul, WHC off 0.8%.

In corporate news, BBN spat the dummy after its update on lower margins and inflation impacts, falling 20.5%. DBI rose 6.2% on an investor presentation, PNV up 6.0% on more director buying and SLC better by 11.8% on its AGM commentary.

On the economic front, Westpac consumer confidence slipped again, and the Australian Office of Financial Management said it could nearly halve the amount of debt it plans to seek this year after a better than expected position. Asian markets off as Japan falls 2.6% HK down 1.6% though China up 0.5%.
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