Marcus Today End of Day Podcast – Friday 10th February

 ASX 200 falls another 57 points to 7432 (0.8%) to a three week low, as results fall short and resources beyond underwhelming. Iron ore stocks starting to throw in the towel, BHP down 0.3%, RIO off 1.1% and FMG falling 2.3%. Gold miners weaker again, NCM down 1.9% and NST off 3.1%. Lithium stocks holding up relatively PLS steady with AKE down 1.3%. Coal stocks though walloped, WHC down 3.7%, NHC off 8.6% and SMR down 2.5%. Oil and gas stocks also in the doldrums, WDS off 1.7% and KAR down 1.8%. Banks eased again but still holding up relatively well. The Big Bank Basket down to $191.18 (). MQG tumbling 1.3%, insurers solid on rates rising again with 10s up to 3.71% yield. Money managers falling too, MFG down 3.4% with GQG off 1.7%. Tech stocks fell, WTC down 5.1%, XRO off 2.1% and the index falling over 2.1%. REITs suffering and healthcare weaker. RMD down 1.3% and COH falling on deaf ears off 1.3%. Results again dominating, REA fell slightly off 2.7%, NWS off 6.9% as cost cutting kicks in, DHG falling hard on REA numbers down 6.1%. In economic news, the RBA released its Statement of Monetary Policy again with a hawkish boas and stresses more rate pain to come. Chinese CPI rose to 2.1% on Lunar New Year demand. Asian markets mixed still with Japan down and China up. 10-year yields pushing higher again to 3.71%.

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