Market Updates

The ASX 200 fell 102 points to 8192 (1.2%) as a rethink on banks, and US leads, saw across the board selling. A downgrade to banks clobbered the sector with higher yields probably not helping. The Big Bank Basket dropped to $250.75 with WBC off 2.2% and the insurers seeing sellers despite higher yields. QBE down 2.0% a

ASX set to drop. SPI futures down 71 points or 0.86%. Stocks in the US broadly fell on Friday night after non-farm payrolls data implied the labour market is in better shape than expected. A classic case of good news is bad news, it reinforced fears from Tuesday night that there will only be one Fed rate cut this year,

The S&P 500 gained 0.73% to 5,974.07. The tech-heavy Nasdaq Composite rose 0.98% to 19,764.89, as Tesla and Meta Platforms added more than 2% and Nvidia climbed more than 3%. The Dow Jones Industrial Average erased earlier losses and ended the day 66.69 points higher, or 0.16%, to 42,906.95. Weak economic data seemed t

The ASX 200 roared back from oversold levels last week and rose 135 points to 8202 (1.7%) as Santa came to town. The slow burn turned into a book squaring short covering rally led by the banks. CBA rose 2.9% with ANZ up 2.4% and the Big Bank Basket up to $(). MQG had a good day along with insurers and other financials.

US markets bounced on Friday night after PCE inflation numbers came in slightly less than expected. Settling some nervousness after last weeks Fed meeting thrust progress on inflation back into the spotlight. The PCE index increased from 2.3% to 2.4% in November, vs 2.5% expectations. Consumer spending also rose 0.4%,

The ASX 200 fell hard again today, down another 101 points to 8067 (1.2%) as the banks came under pressure. For the week the ASX 200 is down 2.8% with the US Triple witching and Core inflation numbers due tonight. Traders taking profits on the sector after a great year. The Big Bank Basket dropped to $246.54 (-2.9%). C