Marcus Today End of Day Podcast – Wednesday 4th October

ASX 200 fell another 53 points to 6890 (0.8%), an 11-month low with banks and industrials in the firing line today. The Big Bank Basket dropped to $172.06 (-1.6%), with CBA down 1.6% and MQG falling 2.1%. Insurers are once again under pressure despite rising bond yields, usually good for the sector. QBE down 1.0%, SUN off 1.6% and REITs sold off yet again. VCX down 1.5% and SGP off 1.3%. Tech eased, with WTC down 0.8% and XRO off 0.8% as the All-Tech Index dropped 0.7%. Industrials fell across the board, TCL down 0.9%, WES off 0.6%, and TLS falling 1.3% on the TPG/VOC news of the DD period expiring. Resources found a little support on the falling AUD with BHP down only 0.3% with RIO up 0.7%. Gold miners saw a few brave souls venture out with NCM up % and EVN up %. Lithium stocks tried to steady, LTR pushed 0.7% higher on more Gina buying. Oil and gas stocks slid slightly, with WDS down 0.9% and STO off 1.1%. In corporate news, MIN dipped 1.3% after finalising a $1.1bn debt deal. Nothing on the economic front. RBNZ kept rates unchanged over the ditch. Asian markets weaker again, with Japan down 2.0% and HK off 0.9%. 10Y yields up to 4.66%. Dow Futures down 56 points. NASDAQ Futures down 34 points. 

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