Marcus Today End of Day Podcast – Tuesday 18th July

 ASX 200 slid 15 points to 7284 (-0.2%) after an early loss kicked on by RBA minutes reminding all that there could be more rate rises to come. Banks held up with the Big Bank Basket up to $176.79 (1%). NAB led the charge higher, up 2% with ANZ up 1.7%. Insurers too in demand, QBE up 0.4% and some buying in financial services with GQG up 1.3%. ASX continues to struggle down 0.2%. REITs slid with GMG off 1.1% and SGP hurt falling 2.4% as yields rose again. Industrials were also weaker, drifting lower, ANN off 14% on a cost pressure warning, TLS fell 1.9% with ‘Old Skool’ platforms lower, REA down 0.4% and CAR falling 1.3%. Consumer stocks also on the nose, ALL off 2.7%, QAN down 0.8% and WOW down 1%. Healthcare mixed, CSL finding a base up 2.2% on broker upgrades, RMD down 0.2% and SHL falling 1.2%. Tech stocks flat, the All- Tech Index down 0.04%. Resource stocks were again sold lower with BHP off 1%, RIO down 0.8% and IGO falling 3.8% on broker downgrades. Gold shares held up, just, lithium majors did ok, PLS up 1.2% and AKE better by 0.8%. Oil and gas sold down with WDS off 1.1% on a Sangomar project update.

In corporate news, ANN fell 14% on an update, AZJ off 5% as it held an investor day. SYR slipped 16.3% on its quarterly and IVC fell 3.7% as the TPG deal continues to drag.

On the economic front, ANZ Roy Morgan Consumer Confidence again down and RBA minutes suggest the RBA is far from done, but data dependent. Meanwhile Asian market slipped slightly, Japan back from Marine Day rose 0.2% and HK after a Typhoon day playing catch up down 1.8% with China flat. 10-year yields 3.97%. Dow futures up 2 points. NASDAQ futures down 21 points.

Why not sign up for a free trial? Get access to expert insights and research and become a better investor.

Make life simple. Invest with Marcus Today.