Market Updates

The ASX 200 finally made up its mind after oscillating between positive and negative territory and closed down 29 points at 8,787 (-0.3%). Resource stocks were back on the nose as the gold price slipped lower in Asian trade, with NST down 2.7%, EVN down 2.5%, and NEM down 2.1%. BHP eased slightly, along with RIO, while lithium stocks once again came under pressure, with PLS down 1.1% and MIN off 2.5%. Most resource stocks finished lower on the day. Uranium stocks also came under pressure, along with oil and gas names, with WDS down 0.4% and VEA falling 2.4% on news of issues with its refining capacity.
The other sector struggling today was technology, which simply can't seem to catch a break. After a small bounce yesterday, WTC once again succumbed to selling pressure and fell 4.4%, while XRO continued its recent decline, falling 5.3%. TNE also had a shocking session, down 7.1%. Data centre stocks were weaker following the sell-off in the US, with NXT down 1.7% and MP1 coming back to earth by 5.1% Industrials were mixed, although we did see some defensive buying in TLS and the supermarket stocks. The banks were firm and helped limit the market's losses. CBA rose 0.5%, ANZ was one of the best performers, up 1.4%, and the Big Bank Basket closed at $273.76 (+0.8%).
Retail stocks drifted lower, as did healthcare, although CSL slipped back into negative territory. Retail names eased as bond yields pushed slightly higher. Fast-food stocks were also weaker, with CKF down 5.4% and DMP falling 5.2%.
In corporate news, WTC remained in focus after the company said Richard White was not aware of any investigation by the AFP. RWC fell 3.0% after announcing it would close its brass casting operations in Victoria. There was nothing on the economic front today.
Nikkei 225 down 1.8% South Korea down 4%, HK down 1.5% and Shanghai down 1.8%. 
US Futures - Dow Jones down 300, Nasdaq down 630 
European futures showing a 1% loss.
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The S&P 500 fell on Monday, weighed down by declines in technology stocks. Wall Street also assessed the latest developments in the Iran war negotiations and awaited the release of inflation data closely watched by the Federal Reserve.
The broad market index fell 0.37% to 7,472.79, while the Nasdaq Composite declined 1.32% to end at 26,166.60. The Dow Jones Industrial Average added 148.01 points, or 0.29%, led by a nearly 4% gain in Caterpillar.
Major tech names pulled the market into negative territory. Shares of Alphabet dropped 5%, spurred by concerns around artificial intelligence talent departures. Amazon and Meta Platforms lost 4.8% and 2.3%, respectively. Microsoft shares also declined 3%.
SpaceX was another laggard. The stock fell 16%, posting its third straight daily decline.
SPI up 21 - Gold firms - Oil steady - WTC answers.
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The ASX 200 slipped 13 points to 8816 (0.1%) in a quiet day of trade, oscillating between small gains and small losses. Banks remained solid, with CBA the star of the show, up 0.6%. MQG, though, fell 0.8%, while insurers were better, with QBE rising 1.5% and IAG up 3.0%.
There was not much action in the REIT sector, with SCG up 1.1% and GMG largely unchanged.
Elsewhere, it was a mixed picture across industrials and technology stocks. SGH rose 3.0% following the announcement of a $500 million buyback. However, we once again saw selling pressure in the tech sector, with REA down 3.1%, CAR off 3.3%, and XRO falling 4.5%, dragging the All - Tech Index down 2.6%.
The biggest loser in the sector today was WTC, which crashed 18.4% after media reports revealed founder Richard White is under AFP investigation over alleged trafficking offences. And yet nothing from the company!
In healthcare, CSL gave back some of last week's gains, off 3%, while PME rose 1.1%.
Resources were also mixed, with BHP down 1.7% and RIO lower. Gold stocks perked up on the back of higher bullion prices, with EVN rising 3.4% and NST rallying 1.6%. Lithium stocks, however, came under pressure, with PLS down 6.0% and MIN falling 3.6%.
Oil and gas stocks were modestly weaker, while uranium stocks followed a similar path.
In corporate news, ING fell early before recovering to close down X% after imposing a full lockdown due to avian influenza concerns in Western Australia. MTS was also 1.9% weaker following an update on supermarket sales. A2M edged 0.9% higher after confirming it would proceed with its $300 million special dividend, while CCP withdrew its bid for HUM.
There was nothing on the economic front locally, Nikkei 225 up 1.7% South Korea up 0.6%, HK down 0.5% and Shanghai up 1%. -0.5 
US Futures - Dow Jones down 82, Nasdaq down 42. After fair value, small gains.
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Disclaimer
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US Markets closed - European markets ease
Confusion in the Middle East - Is the Strait open or closed?
SPI down 16 - Metals off in London Trade.
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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 was on shaky ground falling 82 pts to 8829 (0.9%), with BHP the major culprit after announcing changes to payments and a blowout in capex at its Jansen potash project. Lower iron ore prices didn't help either, BHP finished down 5.6%, with RIO falling 3.1%. Not helping investors was news that JD Vance was no longer in the departure lounge for Switzerland, as Lebanon remains an issue. Donald Trump has already signed the MOU with Iran, but we did see US futures turn negative, despite the fact there is a holiday in America tonight. ASX 200 unchanged for the week.
The banks held relatively firm, with NAB up 1.1% and the Big Bank Basket steady at $270.18 (+0.1%). Tech once again drifted lower, with WTC down 0.3% and TNE down 2.7%. Huge jump today in CSL up 7.6% to a multi month high.
There was further carnage in the resources space, with the gold price once again under pressure. EVN fell 5.1%, while NEM also dropped 6.7%. Lithium stocks eased back, with PLS down 4.7% after announcing an expansion to the P2000 target project. Oil and gas stocks were slightly firmer as oil picked up a little, while coal stocks were better. Uranium stocks, however, came back under pressure.
In corporate news, EOS jumped 14.1% on the back of a large order from the Middle East. BHP was very much in focus following its Jansen update. SKC rallied 14.6% on a settlement deal. QAN had a good day after announcing its Project Sunrise flights to London from October 27. LIC also fell hard after flagging an acceleration in sales momentum, although lower pricing offset the good news.
There was nothing on the economic front locally, with China, Hong Kong and Taiwan closed, and US markets shut tonight.
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.