Marcus Today End of Day Podcast – Thursday 2nd February

Marcus Today Market Updates

ASX 200 gave back nearly all of the early gains closing up 10 points at 7512 (0.1%) as big resources saw profit-taking across the board. Had to happen at some stage. BHP fell 1.4% with RIO under serious pressure having found the capsule down 2.3%. FMG held up better. Gold miners were superstars, NCM up 3.7% with NST up 4.6% and DEG up 3.4%. Lithium stocks better, LTR up 2.3% and CHN doing well up 6.2%. SYA too bouncing back up 5.9%. Oil and gas stocks slid as WDS fell 1.0% and STO off 1.6%. Coal stocks ease, WHC down 1.2%. Industrials and tech the winners today. Tech stocks powering ahead as Meta delivered. WTC up 6.8%, XRO surging 7.5% and ALU up 3.5%. The All-Tech Index up 3.6%. REITs better, GMG up 0.9% and MGR up 1.7%. Interest rate sensitive stocks also doing well, TCL up 0.9% and AIA up 1.0%. Healthcare still trundling higher, CSL up 1.0% and FPH up 0.6%. RMD a slight struggle, off 0.7%. Old Skool platform stocks better too, REA up 3.0% and CAR up 2.0% and SEK doing well up 5.4%. Banks slipping off highs with the Big Bank Basket down to $189.89 (0.5%). Insurers falling hard with QBE off 4.8%. MQG kicks higher by 1.8%. In corporate news, PNI disappointed with results falling 2.7%, ASX has two new board members and DRO in a halt as it raises money. On the economic front, building permits jumped 18.5% MoM in December 2022. Asian markets mixed, HK up 0.4% the best of the bunch. Dow Jones futures down 42 points. NASDAQ futures up 122 points.
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