Marcus Today End of Day Podcast – Tuesday 10th October

ASX 200 blasted 70 points higher to 7041 (+1.0%) as bond yield fell hard on safe-haven buying of bonds. Talk of rate cuts as Israel/Hamas conflict the focus. Gold miners are better but not spectacular, with NST up 1.5% and EVN up 0.3%. Lithium plays bouncing hard as a short squeeze takes hold. PLS up 6.2%, and IGO up 3.5%. LRS having a good day too on broker upgrades, up 7.6%. Big miners off highs with BHP unchanged, FMG up 0.8%. Oil stocks modestly higher as crude rolled over WDS up 1.3% and STO up 0.5%. Some buyers emerged in base metals, although uranium stocks eased back, PDN down 1.5% and BOE off 4.8%. Banks better again ahead of results next month, CBA up 0.7% and ANZ rising another 0.6%. The Big Bank Basket up to $176.90 (0.6%). Insurers better, and MQG up 1.3%, with MFG bouncing slightly up 4.2%. REITS rallied hard on yield falls, GMG up 2.4% and VCX up 2.0%. Tech also rallying on lower yields, XRO up 4.4% and WTC better by 2.1%, with the All-Tech Index up 2.3%. Industrials firmed, CSL and healthcare stocks better, TLS did well, up 2.1%, and staples also in demand. In corporate news, ORG rallied 5.5% as the ACCC gave Brookfield the green light, WBT up 4.9% on Israel update, CXO up 7.4% on a broker upgrade. In economic news, NAB Business survey out and steady as she goes. ANZ Consumer sentiment rose slightly. Asian markets were better as Japan returned from Sports Day, up 2.1%, China down 0.5%, and HK struggling with Typhoons. 10Y yields fell to 4.45%. Dow Futures up 6 points. NASDAQ Futures up 23 points. 

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