Marcus Today End of Day Podcast – Thursday 25th May

ASX 200 nosedived today, closing down 76 points (-1.1%) to 7138, sliding for the fourth consecutive session as lingering uncertainties weigh on market sentiment. Tech stocks showed off their resilience on the back of the Nvidia result and move, with the All-Tech Index up another 2.4%, recovering yesterday’s losses and then some. XRO found its balance after yesterday's tumble, up 2.3%, SQ2 +2.5%, ALU +4.3%, MP1 +12.1% and NXT +4.4%. Gold miners worst performers today, NST down 3.6%, EVN down 4.4% and NCM off 1.9%. Base Metals and Miners followed suit, with heavyweight iron ore miners down BHP -1.6%, RIO -1.6% and FMG -3.2%. Lithium joined the sell-off, MIN -3.1%, PLS -1.3%, and LKE off 3.6%.Energy stocks weakened, WDS down 0.5% and coal stocks grim, WHC down 4.5% % and NHC off 4.5%. Financials were no better, with the Big Bank Basket down to $168.20 (-2.1%), financial stocks performing more like "fiscal flops" than money-making maestros, CBA down 2.2%, MQG off 2.2%, and ANZ slid 2.6%. Fund managers slipping away, MFG down 1.6%, PPT down 0.4%, and PTM off 2.6%. Industrials mostly down, REITs off 0.5%, Healthcare up, CSL up 0.2% and COH up 0.1%.

In corporate news, ABC rocketed up 21.9%, on AGM and results, WOW -0.1% acquires failed startup milk run, and TWE fell 7.8%% after the group announce its expecting sales to be down 2-3%.

Nothing on the economic front. Looking beyond our borders, Asian markets are down, Japan down 0.3%, HK down 2.4%, with China off 0.9%. Australia 10Y yield up to 3.70%. Dow Jones futures down 68 points and Nasdaq futures up 182 points.

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