Market Updates

The ASX 200 closed down 38 points at 8793, well off the lows, as the banks continued to offer stability, whilst mining stocks were generally easier, with comments from FMG on Chinese iron ore negotiations hurting the big boys and falling 4.5%. BHP lost 2.4%. Gold miners were also slipping after a slightly positive start, but bullion prices eased in Asia. The oil and gas sector was also easier, with WDS down 3.5% and STO down 1.3%. The banks held steady, with ANZ up 1.2% and the Big Bank Basket up to $272.55. MQG eased back, whereas the insurers pushed ahead slightly, with QBE up 1.4% and SUN up 2.5%. REITs were also better today, led by GMG up 1.2% and VCX up 0.9%. It was the industrials' chance to shine today, with a positive update from BXB rising 3.2%, QAN rising 1.2%, and SGH rising 1.9%. TLS also had a good day today, along with REA in the corner, up 1.9%. Technology stocks were somewhat mixed, and we saw a bounce back in NXT today, rising X% after the drubbing yesterday on that significant earnings downgrade. WTC continued its rally up 3.1%. Those XRO slipped away again. CDA saw some profit-taking down 8.1%. A solid rally, too, in MAQ and MP1, helping the sector, with the All-Tech index rising 0.9%.
In Corporate news today, NCK was down 15.3% following an earnings downgrade at the AGM. CSL will defend its class action over its earnings forecast disclosure. STO trimmed its output guidance on Alaskan oil delays. FPH was also hit with a cyberattack, whilst BXB said guidance remains intact despite repair costs. MFG also under pressure after AGM. 
Nothing substantial locally in economic news. Asian markets dropped, Japan down 2%, HK down 2.9% and China off 1.3% again.
US futures falling DJ down 0.4% Nasdaq down 1.4% 10-year yields relatively stable at 5.25%.
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The Nasdaq Composite added 1.05% to end at 26,702.86, and the S&P 500 rose 0.58% to 7,757.17. The Dow Jones Industrial Average climbed 360.21 points, or 0.69%, to close at 52,856.09.
Shares of Elon Musk’s SpaceX surged 7% after the company said its revenue grew 161% in the third quarter. Musk also said that SpaceX and Tesla, his auto manufacturer, have formed special committees to discuss a merger. Tesla, which is due to report earnings later, saw shares rise more than 3%.
US mortgage rates fall for 1st time in 11 weeks. 
SPI up 5 - Tesla and Meta beat expectations after hours.
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A big hit for Nextdc today, down more than 40% after a power delay at its Melbourne data centre slashed its earnings guidance. The ASX 200 still edged higher as the banks bounced. The RBA’s Hauser warned inflation is running well above forecast, and markets now see a November rate hike as more likely than not.
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A professionally managed portfolio run by Marcus Padley and the team, using ASX-listed ETFs with active market timing.
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Principles – How We Think About Investing
A short video series on timing, behaviour, and decision-making. No stock tips.
http://bit.ly/mt-principles-podcast
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Disclaimer
This podcast is general information only and does not consider your personal circumstances. It is not personal financial advice.

Marcus Today – Daily Market Insights
Marcus Today provides clear, practical commentary for self-directed investors – covering markets, portfolios, education, and decision-making without the noise.
If you'd like to go further:
Start a free 14-day trial of Marcus Today
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MT20 – Managed ETF Portfolio
A professionally managed portfolio run by Marcus Padley and the team, using ASX-listed ETFs with active market timing.
http://bit.ly/mt20-podcast
Principles – How We Think About Investing
A short video series on timing, behaviour, and decision-making. No stock tips.
http://bit.ly/mt-principles-podcast
—
Disclaimer
This podcast is general information only and does not consider your personal circumstances. It is not personal financial advice.

Marcus Today – Daily Market Insights
Marcus Today provides clear, practical commentary for self-directed investors – covering markets, portfolios, education, and decision-making without the noise.
If you'd like to go further:
Start a free 14-day trial of Marcus Today
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Join Marcus Today
Use code MTPODCAST for 10% off
http://bit.ly/mt-join-podcast-offer
MT20 – Managed ETF Portfolio
A professionally managed portfolio run by Marcus Padley and the team, using ASX-listed ETFs with active market timing.
http://bit.ly/mt20-podcast
Principles – How We Think About Investing
A short video series on timing, behaviour, and decision-making. No stock tips.
http://bit.ly/mt-principles-podcast
—
Disclaimer
This podcast is general information only and does not consider your personal circumstances. It is not personal financial advice.