Market Updates

The ASX 200 fell 73 points to 9,115 (0.8%) as the banking sector slid and resources took a breather. For the week, we are down 1.6%. We saw CBA fall 1.1% and WBC down 0.9%, whilst ANZ had a better day following its results earlier this week. The Big Bank Basket fell to $282.50 (0.9%). Other financials were also under pressure, with ASX down 3.7%, while the insurance sector weakened, with QBE off 1.6% after disappointing results. Industrials were also easier, with TLS falling 1.2% and TCL down 4.1% The healthcare sector was a little mixed, with CSL slipping 0.7%. Tech stocks, however, caught a bid today, with XRO up 5.5%, WTC gaining 5.6% and TNE doing well, up 3.2%. CAR also rallied 5.5%.
It was the resources sector that generally sucked the life out of the market today, with BHP falling 3.3%, RIO down 3.1% and the gold sector under pressure as the spot bullion price fell. NST dropped 2.3% while EVN was down 3.4%. We did see lithium stocks hold up relatively well, with LTR up 3.7% and MIN drifting slightly higher. Uranium stocks fell, while oil and gas stocks were relatively steady.
In corporate news, QBE dropped 1.6% on its results, while BBN surged 5.8% after posting better-than-anticipated profits. IPG also had a good day, beating forecasts and rising 13.1%. On the economic front, there was nothing of note locally.
US retail sales are due tonight and will be the key economic focus.
Asian markets were mixed, with Japan up 0.5%, Hong Kong down 1.0%, China down 0.2%, and Korea up 3.7%. US futures were narrowly mixed, with the Dow down 10 points and the Nasdaq down 34.
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The S&P 500 rose to a fresh all-time intraday high on Thursday as oil prices declined and traders digested more inflation data.
The broad market index added 0.65% and surpassed 7,800 for the first time ever. The S&P 500 notched a closing record of 7,798.99. The Nasdaq Composite gained 0.81% to end at 26,803.03, boosted by gains in Meta Platforms, Micron Technology and Netflix. The Dow Jones Industrial Average inched up 0.13%, or 69.72 points, to 53,839.99.
Brent crude futures shed more than 2% to close at $87.07 per barrel. West Texas Intermediate futures also slid more than 2% to settle at $81.25 per barrel. The moves come as traders weighed falling oil demand while the U.S.-Iran war continues.
Wall Street got another look at U.S. inflation on Thursday, with the July reading of the U.S. producer price index — which gauges what wholesalers pay for raw goods and materials — coming in unchanged. Economists polled by Dow Jones had called for an increase of 0.2% on the month. Excluding volatile food and energy prices, core PPI rose 0.2%, just below the gain of 0.3% economists expected.
SPI down 37 – Oil and Gold fall – Tech to shine.
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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: 
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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.
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Disclaimer 
This podcast is general information only and does not consider your personal circumstances. It is not personal financial advice.

US stock indices closed mostly higher on Wednesday after strong results from AI companies and a relatively tame CPI print. The S&P 500 rose 0.3% to near its record close, the Nasdaq gained 0.7%, and the Dow closed nearly flat. CoreWeave surged 19.3% after posting stronger-than-expected sales results. SMCI soared 19% after its revenue forecast came in above expectations. Chip producers gained following strong results from Tencent, while Temasek took fresh stakes in SK Hynix and Samsung. The results injected fresh optimism into AI infrastructure stocks amid their volatile start to the third quarter. Nvidia (+3%), Oracle (+5.4%), and Micron (+4.9%) were up. Meanwhile, new inflation data showed relatively stable core inflation, easing pressure on the FOMC to raise interest rates. Still, uncertainty over the return of energy supplies from the Middle East maintained inflationary concerns. Hyperscalers erased earlier gains, with Microsoft down 2.3%, Meta losing 3.4%, and Amazon shedding 1.8%.
SPI down 24 - TLS results - CWY Bid - ANZ Update - Gold up - Oil down
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The ASX 200 closed down 41 points to 9,209 (-0.45%), as the banking sector came under a little pressure, despite CBA results beating forecasts ever so slightly. WBC continued lower, down 0.9%, while MQG also slipped 0.7%. The Big Bank Basket slipped to $285.41 (0.7%).  Insurers bucked the trend, with SUN better following its results, while IAG also pushed higher. Financials were generally somewhat easier, with ASX falling 2.8% and NWL down 1.3%. The REITs were also weaker, with GMG falling 0.8% and SCG down 1.8%, while industrials generally slipped lower. CPU fell 4.5% following broker downgrades, while BXB was down 1.4%. SGH also drifted on some broker negativity. Retail stocks slipped following an update from PMV, which announced the closure of some UK stores. It fell 11.0%. Both WOW and COL fell 0.9%. Meanwhile, in the technology sector, we saw some profit-taking in WTC, XRO and TNE, with the All-Tech Index falling 1.0%.
Resources were mixed as the three iron ore majors gave back some ground, although we did see gains in the lithium sector, with PLS up 4.3% and MIN doing well, rising 2.1%. Gold miners were also in favour as the bullion price pushed higher, with NST up 0.7% and NEM gaining 0.9%. Oil and gas stocks eased back despite Brent crude heading towards US$90, while uranium stocks pushed slightly higher, led by PDN, up 1.3%
In corporate news, CBA results were a slight beat, with the outlook appearing to stabilise. The stock fell 0.7%. SEK announced write downs and fell 14.3%. AGL beat forecasts and rose 6.0%. ASX fell following news of class actions, while GQG reported FUM, with money continuing to leak out. PMV fell after a trading update and UK store closures. On the economic front, nothing locally. US CPI tonight.
Asian markets were mixed, with Japan up 0.9%, Hong Kong down 1%, China down 0.6%, and Korea up 3.7%. US futures were mixed, the Dow was up 10 points and the Nasdaq up 74. European markets in holiday mode.
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Marcus Today provides clear, practical commentary for self-directed investors – covering markets, portfolios, education, and decision-making without the noise. 
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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 
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Disclaimer 
This podcast is general information only and does not consider your personal circumstances. It is not personal financial advice.