Marcus Today End of Day Podcast – Wednesday 30th November

Marcus Today Market Updates

The ASX 200 finished up 31 points (+0.4%) on a better-than-expected monthly CPI indicator number for October. The figure came in at 6.9%, ahead of consensus of 7.4%, and slowing from the 7.3% CPI read in September. Resources were strong, BHP was up 1.6% and RIO rose 1.7%. Lithium stocks also found some strength, with MIN up 4.4%, PLS up 3.8%, and AKE up 3.4%. Energy was the clear winner, with coal stocks attracting attention on a rising coal price and increasing uncertainty surrounding the oil price cap situation with OPEC+. WDS up 1.3% and STO up 1.0%, with YAL up 3.3%, WHC up 8.4%. Banks came under some pressure following the CPI indicator release, with the Big Bank Basket down to $187.91 (-0.3%). CBA down 0.2%, NAB down 0.5%, and ANZ down 0.7%. Other financials were better, MQG up 0.4%. Technology stocks were better, the All-Tech Index was up 1.0%, with CAR up 3.4%. REITs also better following the CPI update, GMG was up 2.3%. In corporate news, TPW rose 14.1% on a 55% increase in revenue compared to pre-COVID levels. MYX fell hard, down 16.4%, following an outlook update at its AGM. TLG recovered from some weakness to finish unchanged after it said it expects to finalise negotiations and provide definitive documentation on Automotive Cells Company shortly. Jerome Powell speaks in the US tonight, looking out for some confirmation of slowing rate rises in December. European inflation data for November also out tonight. Dow Futures are up 50 points and NASDAQ Futures are up 18 points.
Why not sign up for a free trial? Get access to expert insights and research and become a better investor.