ASX 200 fell 2 points to 7496 in quiet trade fighting back from early small losses. Banks solid but unspectacular, the Big Bank Basket up to $193.85 (0.1%). Financials followed suit, MQG up 1.0% on Blackrock infrastructure deal and REITs doing ok, GMG up 0.6% and MGR rising 0.5%. Insurers better. Healthcare is struggling as CSL sees some profit-taking. RMD slips 1.7% on recent news of FDA Class 1 Recall. Industrials flopping around, TLS having a good day, up 2.1% as a defensive domestic stock, TPG better too. Tech unchanged. Retailers taking their queue from SUL after trading update, rising 5.7%. JBH up 3.5% and PMV rallying 4.0%. In resources, iron ore stocks remain on the nose, BHP down 1.1% and RIO off 0.6%. Lithium stocks under pressure again, PLS down 4.8%, IGO falling 5.8% and MIN down 3.0%. Gold miners better and uranium stocks tearing up the field, PDN up 7.5% and DYL up 11.6%. Oil and gas stocks too doing well, STO up 3.7% on Barossa news, rising % and WDS up 1.1%. Coal miners also in demand, WHC up 2.0%. In corporate news, TAH down 0.7% as Victoria ordered it to stop taking cash bets. CHN fell another 9.7% as the bears got stuck in. Nothing on the economic front locally, China kept rates on hold, US closed tonight. Asian markets mixed, Japan hitting fresh highs. 10-year yields steady around 4.08%.

HIGHLIGHTS

• Winners: DYL, BOE, SLX, FCL, BMN, SUL. MRM
• Losers: IMU, TUA, SYA, NXL, IGO, LTM
• Positive sectors: Retail. Oil and gas. Uranium. Telcos. Financials.
• Negative sectors: Iron ore. Healthcare. Lithium.
• ASX 200 Hi 7505 Lo 7477. Narrow quiet trade.
• Big Bank Basket: Higher at $193.85 (0.1%)
• All-Tech Index: Up 0.2%
• Gold: Better at $3071
• Bitcoin: Settles lower at US$42428. The Super Bowl is coming in a month!
• 10-year yields steady at 4.08%
• AUD: Easier at 66.91c
• Asian markets: Japan up 1.1%, China up 0.2% and HK down 0.2%
• US Markets closed tonight.

MAJOR MOVERS

• DYL +11.6% BOE +9.6% uranium stocks roaring.
• SUL +5.7% positive trading update.
• TLS +2.1% good volume. Rally continues.
• LOT +4.7% uranium project in Malawi.
• NXG +7.7% catches fire.
• AGE +13.0% no tears here.
• ZNC+6.5% review of lithium business.
• IPL -0.4% MOU with nitrate plant potential in Saudi Arabia.
• NXL -6.6% broker downgrades.
• LTM -5.8% lithium sector remains vulnerable.
• LTR -4.4% more selling.
• WBT -3.3% no news is bad news.
• CHN -9.7% Poisoned. Hedge funds shorting even more.
• QAN -4.4% more industrial action in US.
• WR1 -9.4% lose some today.
• 4DX -10.1% slipping away.
• KM1 -14.1% bubble burst but ASX ‘please explain’.
• Speculative Stock of the Day: Terra Uranium (T92) +44.4%. Expands uranium footprint in Athabasca Basin.

COMPANY NEWS

ECONOMIC AND OTHER HEADLINES

• Santos’ Barossa gas project off the NT coast will go ahead after the Federal Court ruled on Monday that its proposed pipelines would not endanger Indigenous cultural heritage sites.
• US Markets closed tonight.
• China’s central bank held a key interest rate steady on Monday.

• US fighter aircraft shot down a cruise missile fired from a Houthi militant area of Yemen toward a Navy destroyer operating in the southern Red Sea.
• Atlanta Fed boss warns US progress on inflation is likely to slow.
• Nikkei continues to soar.
• Davos kicks off this week.
• Iowa caucus results today.
• AI will affect almost 40% of global jobs, with advanced economies facing greater exposure than emerging markets and low-income countries.

And finally…..

Clarence

XXXX