Marcus Today End of Day Podcast – Monday 16th January

ASX 200 closed up another 60 points to 7388 (0.8%) as banks took up the baton again. The Big Bank Basket rose to $187.82 (0.95%). CBA up 0.8%, WBC up 0.7% with fund managers up strongly too, MFG up 2.9% and GQG up 2.6%. Insurers steady. REITs better again on rate outlook. GMG up 2.2% and SGP up 1.9%. Tech stocks also doing well with WTC up 4.0% and XRO up 4.6% with the Index up 2.6%. Lower rates helping. Industrials firmed, TCL up 1.3% and WES up 1.2%. Healthcare stocks firmed, CSL up 1.4% with SHL up 1.9% and FPH rallying 2.9%. Meanwhile, iron pre-stocks eased back from highs as China looks to clamp down on price rises. BHP up 0.1% with FMG under pressure, off 2.1%, Gold miners better, NCM up 2.4% and NST up 2.9%. Lithium stocks struggling to gain traction, INR doing well up 21.9% on US deal. Oil and gas stocks better, WDS up 1.6% and WHC up 2.4%. In corporate news, SUL had a positive business update rising 7.7%, BBN went down 11.6%, screaming on a dummy spit as December sales disappointed. BTH rose 13.6% on ARR jump and PNV up 2% on record revenue numbers. Nothing on the economic front. In Asia, Japan fell 1.3% ahead of BoJ policy meeting, China up 2.0% and HK up 0.7%. 10-year yields steady at 3.59%. US markets closed tonight. Dow futures up 37 points and Nasdaq futures up 10 points.

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