Market Updates

The ASX 200 gave up yesterday's gain and more, dropping another 108 points to 8,497 (1.3%) as the rout continues. Resources bore the brunt of the selling as inflation fears stoked higher rates and tore through commodities. BHP fell 2.3% and RIO off 1.5% with gold miners under pressure again, EVN down 4.9% and NEM falling 4.5%. Oil and gas firmed, but uranium stocks eased back, PDN down 4.5%. Lithium stocks found some friends with PLS up 1.9%. Industrials were also weak across the board as TLS fell 1.1% and REA dipped 2.0%. Tech stocks couldn't shrug off the negativity despite good results from CAT and broker upgrades to TNE. Healthcare drifted lower.
Banks were hit hard as one broker said conditions were tough, WBC fell 2.4% with ANZ off 2.1% and the Big Bank Basket falling to $269.72 (0.8%). Other financials also under pressure, MQG fell 2.0% and NWL and HUB dropped. Insurers also saw sellers, QBE off 1.0% and IAG down 0.4%. REITs fell as bond yields rose again. GMG down 2.1% and CHC falling 3.3%.
In corporate news, WJL tumbled 11.2% after earnings came in worse than expected and guidance was moved down. JHX fell 0.9% after lacklustre results too. EOS tumbled 10.3% as it raised funds at 800c and FLT fell 3.6% after a US$5m US strategic acquisition.
On the economic front, total wages and salaries paid by employers rose 1.4% to a record $110.6bn in March. National Australia Bank says weekly consumer spending patterns have stabilised with travel especially weak.
Asian markets fell, Japan down 1.6%, Hong Kong down 0.7%, China flat. Kospi down 2.8%.
US futures mixed with Dow down 31, Nasdaq up 32. European futures opening around 1% lower. Oil down slightly.
Nvidia tonight in the US. European futures opening around 0.6% lower.
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US equities extended their decline on Tuesday as a continued selloff in US Treasuries, driven by inflation concerns tied to the war in the Middle East, pressured investor sentiment. The S&P 500 finished 0.7% lower, the Nasdaq closed down 0.8% while The Dow shed more than 300 points, or 0.6%. AI infrastructure companies continued their correction after soaring this month, previously supported by bumper earnings and ambitious guidance. Speculative long positions propelled AI infrastructure stocks higher in the period, prompting a pullback in risk sentiment and a cautious outlook by Seagate to spark a sharp pullback. Seagate sank 10% so far this week. Hyperscalers also fell with Amazon, Tesla, and Meta dropping up to 2% on Tuesday. Meanwhile, Dominion energy sustained its surge from the previous session and NextEra Energy bounced from sharp losses following NextEra's $67 billion acquisition of the former, the largest ever in the power sector.
SPI down 39 - Resources under pressure - JHX results - Nvidia in focus
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The ASX 200 bounced back 99 points today to 8605 (1.2%) as banks led the recovery. CBA gained % with the Big Bank Basket up to $271.83 (=1.5%%). NAB the standout gaining 2.0%. MQG also had a good day up 1.9% and insurers did well as higher bond yields helped, QBE up 2.9% and MPL rising 2.1%. REITs also had a better day with GMG up 1.8% and CHC up 2.2%.
Industrials were firm, WES finally finding buyers up 2.4% and TLS gained 2.6%. WOW and COL both did very well on some broker upgrades. Healthcare also found support, CSL up 2.6% and RMD gaining 2.0%. BXB fell another 0.6% and TUA up 17.6% after a 68% fall yesterday. Tech slightly better with the All-Tech Index up 0.8%.
Resources eased back, iron ore off in Asia, BHP down 0.1% and FMG down 0.3% with gold miners mixed, NEM up 1.8% and NST falling 0.7%. Lithium and rare earth stocks slid, LYC down 4.3% and PLS falling 1.3%. Oil and gas stocks held, uranium stocks gained, coal better too.
In corporate news, MIN rose 2.6% after it announced a restart at Bald Hill, SLC flagged a 4.5m share purchase for staff. TNE fell 2.9% as FX headwinds hurt.
On the economic front, RBA minutes pointed to a pause perhaps from the RBA. 
 Asian markets bounced a little, Japan down 0.5%, HK flat, China down 0.4% Kospi down 2.8%.
US futures lower with Dow down 39, Nasdaq down 105.  European futures opening around 1% lower. Oil down around 2%.
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The Nasdaq Composite and the S&P 500 fell on Monday, bogged down by declines in technology, as traders monitored oil prices and bond yields while awaiting further developments with the conflict in the Middle East.
The broad market benchmark dropped 0.07% to end at 7,403.05, while the tech-heavy Nasdaq slid 0.51% and closed at 26,090.73. It was the second straight day of declines for both indexes. The Dow Jones Industrial Average closed up 159.95 points, or 0.32%, at 49,686.12.
SPI up 92 - RBA Minutes - TNE Results
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Disclaimer
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The ASX 200 fell 126 points to 8,505 (-1.5%) today in a dismal start to the week. Thankfully, the banking sector held up relatively well, with CBA posting a 1% rise, while insurers also performed strongly on the back of higher bond yields. The Big Bank Basket rose to $267.83 (+0.3%). Other financials did not fare as well, with MQG falling 2.6%, HUB down 1.1%, and the REIT sector also under pressure, with GMG down 4.0% and CHC off 3.5%.
Industrials were weaker across the board, with the healthcare sector hit again. CSL fell 1.8% and RMD dropped 0.5%. A couple of poor results this morning set the tone for further weakness in industrials, with SGH down 2.9% and BXB falling 20.2% on a downgrade to earnings, as pallet repair apparently became a thing. The tech space was mixed, with XRO falling 2.0%, although WTC rose slightly, helping the All-Tech Index finish marginally lower.
The real damage today came from the resources sector as iron ore stocks reversed and copper prices came under pressure. BHP fell 2.8% and RIO dropped 3.6% as sentiment towards bulk miners deteriorated.
Gold miners were also under pressure as bullion prices eased, even while the oil price rose. NST fell 2.4%, while EVN suffered the double whammy of weaker gold and copper prices. Oil and gas stocks were inevitably firmer as crude prices pushed higher. WDS rose 2.9%, while STO gained a similar amount. Uranium stocks slipped again, with PDN down 2.5% and BOE off 3.8%.
In corporate news, three major stories stood out. TUA dropped an astonishing 62.8% following issues in Singapore relating to its spectrum licences. ELD also came under pressure, down 22.9%, as higher diesel prices and a messy result hurt sentiment. Meanwhile, the downgrade from BXB simply added to today’s misery. Down 20.8%
There was little on the economic front today, although all eyes remain firmly fixed on bond markets as inflation fears continue to build.
 Asian markets drop hard, Japan down 0.7%, HK off 1.1%, China down 0.6% Kospi bouncing 
US futures lower with Dow down 386 Nasdaq down 192.  European futures opening around 1% lower. Oil up over 1.2%.
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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.
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Disclaimer
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