Market Updates

The ASX 200 lost a mere 12 points to 8617to finish the week down 2.6%. Banks pushed higher led by NAB with the Big Bank Basket back up to $299.06 (+1.1%). Insurers also better as rate rose, SOL up 1.5% and MFG continuing to find friends on the merger deal, up another 3.4%. PNI dropped 4.3% and RPL down 5.2% on another biotech investment blowing up. Industrials were a little better, WES managed a 0.8% rise, ALL up 1.2% and TLS rose 1.4%. Healthcare mixed, RMD falling 0.5% and RHC up 1.0%. Tech was mixed too, WTC eased 0.8% but XRO rose 2.6% and the All-Tech Index unchanged.
In resources, BHP fell 2.3% as its standoff in China continues, RIO and FMG doing well on the back of higher iron ore prices, gold miners slipped, not helped by NST crashing 18.8% on production woes. Oil and gas stocks muted with coal slightly firmer and uranium generally a little better, DYL up 1.0%.
In corporate news, IMM fell 88.6% after its Phase III trial was abandoned. QAN reached a settlement for $105m for CV19 related cases. WGX announced the completion of its sale of two projects. NST fell hard on a production downgrade due to milling issues at the Super Pit. LIC rallied as US-based prefab giant Hometown America bought a stake at 490c. EOS up 18.4% after it revealed $US45m ($64 million) in new defence orders, including a major Middle East contract for its Slinger weapon system.
Nothing on the economic front. US PCE index tonight. 10-year yields steady at 4.95%. Asian market weaker on oil prices, Japan down 0.8%, HK down 0.4% and China flat. Korea KOSPI down 1.9%. WTI Oil down 0.4% in Asia.
US Futures: DJ up 128, Nasdaq down 1.
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The Dow Jones Industrial Average fell 739.42 points, or 1.56%, closing at 46,677.85. The S&P 500 lost 1.52% and settled at 6,672.62, while the Nasdaq Composite shed 1.78% to end at 22,311.98. All three indexes posted closing lows for 2026, and the 30-stock Dow ended the session below the 47,000 threshold for the first time this year.
Crude prices continued to climb after Iran’s new supreme leader, Mojtaba Khamenei, who was appointed on March 9, said that the Strait of Hormuz should remain closed as a “tool to pressure the enemy.” West Texas Intermediate futures rose 9.72% to settle at $95.73 per barrel. Brent crude futures settled up 9.22% to $100.46 per barrel — its first close above $100 since August 2022.
SPI down 28 - Gold eases - Adobe falls after hours - Not much corporate news around - Iron better.
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The ASX 200 fell 115 points to 8629 (1.3%) as oil prices spiked higher on tankers hit in the Gulf. Another $50bn in value knocked off the ASX 200. Broad based losses with the banks falling, ANZ leading the big four down off 2.5% with the Big Bank Basket down to $295.56 (-1.2%). MQG dipped 2.7% as financials falling across the sector. SOL down 1.1% with NWL off 5.5% and CGF down 2.8%. Industrials sagged, WES off another 0.7%, retail falling on potential rate rises next week. JBH down 0.5% and LOV crashing 7.0%. MYR also under pressure, down 10.6% and NCK down 4.6%. Travel stocks fell again, FLT down 2.8%. Tech resumed the position of weakness, WTC down 2.6% and XRO off 4.2%. NXT fell 2.3% and 360 dropped 4.8%. REITs eased back, GMG down 3.3% and healthcare under pressure, RMD down again, off 3.1%. CSL falling 1.1%.
In resources, BHP fell 1.9% and RIO off 1.4%. Gold miners eased back, EVN down 1.3% and GMD falling 2.1%. Lithium eased, PLS off 2.5% and profit taking in rare earths after a strong run yesterday.  AAI was a winner on higher aluminium prices, up 4.4%. Oil and gas stocks better, STO up 1.5% and WDS gaining 2.1% with uranium stocks slipping and coal stocks firming, YAL up 10.5% and WHC rallying 6.7%.
In corporate news, ALX fell after toll news in the US. LTR fell 0.6% after reporting a loss of $184m. CKF delivered with a 5.2% rise on German store openings.
On the economic front, everyone seems to be in lockstep now on a rate rise next week. Household spending has fallen for the first time since September 2024
10-year yields push to 4.95%.
Asian market weaker on oil prices, Japan down 1.5%, HK down 1.4% and China down 1.1%. Korea KOSPI down 1.3% 
US Futures: DJ down 502, Nasdaq off 210.
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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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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.

The ASX 200 rallied another 51 points in quiet trade. Jumped 17 points at the close on ETF rebalancing. Waiting for more news. Banks and resources led the gains, the Big Bank Basket up to $299.01 (0.8%) with ANZ the standout, up 1.8%. MQG up 1.3% with financials mixed. GQG dropped 5.5% on latest FUM numbers. Insurers better as yields rose on Andrew Hauser’s (RBA deputy) comments on inflation. QBE up 1.6%. Retail dropped after bank after bank forecast a rate rise next week to counter the oil price rise. JBH down 1.5% and NCK off 2.9%. Travel stocks failing to find buyers, WEB off 1.8%. Utilities fell with AGL bombing 5.6% with ORG down 1.4%. Healthcare stocks also in ICU today, CSL falling another 1.4% with RMD unwinding 3.4%. Tech lower as sellers took profits after recent rallies. WTC down 3.6% and XRO falling 2.2% with the All-Tech Index down 1.3%.
Resources did well, BHP, RIO and FMG pushed higher on IO price rises, rare earth stocks took off on LYC news of a JARE deal and floor price, up 16.2%. ARU jumping 16.0% with ILU also doing well. Gold miners were slightly positive, OBM jumped 21.5% on a big resource upgrade. Oil and gas stocks flat, coal eased and Uranium stocks better in places. It is 15 years since the Fukushima disaster. Japan now keen to embrace nuclear again as oil prices rise.
In corporate news, DRO announced a new manufacturing push in Europe. MAQ jumped 7.0% on a $200m hybrid investment. 
On the economic front, money markets are now pricing in a 77% chance of a rate rise next week. Economists falling over themselves to warn on rises. 
10-year yields steady at 4.85%.
Asian market recover, Japan up 2.6%, HK up 0.1% and China up 0.5%. Korea KOSPI up 3.5% 
US Futures down DJ up 165 Nasdaq up 112.
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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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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.