ASX 200 rose 3 points today to 7611 as Nvidia and results were the focus. Super Thursday. Banks eased across the board, insurers mixed SUN up 0.8%. The Big Bank Basket down to $201.82(0.2%). MQG slightly higher, up 0.5%. REITs slipped a little. Healthcare better, CSL up 0.3% and RHC up 0.5%. In the industrials, TCL rose 1.3% on broker comments, WOW continued to slide after CEO retirement, down 1.8%. ALL fell 1.9% on AGM comments. Tech flat with the All–Tech Index going nowhere, XRO up 2.3% and WTC down 2.0%. Resources mixed, BHP off 0.4% with RIO down 1.1% after results and broker analysis, FMG had good results, up 2.1%. MIN sold out of AZS rising 3.1%. PLS reported and was becalmed. No panic from shorts at all. Oil and gas slightly firmer. In corporate action, QAN had a soft edge today with the new CEO announcing a $400m buyback, still fell 6.8%. IFL did well on its results up 13.7%, LOV defied the shorts and powered 10.4% ahead. DMP caught some love after results yesterday up 7.7%. MAF down 20.5% and TAH off 10.3%, both suffering after results, PLL sold out of SYA with the stock falling 28.1%. NEC showed how bad TV advertising is and fell 8.7%. In economic news, we had some more wage data out, Asian markets firmed, Japan up 1.1%, China up 0.2% and HK up slightly. 10Y yields slightly lower at 4.17%., Dow Futures up 46 points. NASDAQ Futures up 258 points. 

HIGHLIGHTS

• Winners:  BRN, IFL, BGA, PWH, LOV, FBU, DMP, WA1
• Losers: SYA, MAF, CUV, TAH, NEC, QAN, PRN
• Positive sectors: Utilities. Oil and gas. Builders.
• Negative sectors: Banks. Old Skool Platforms. Insurers.
• ASX 200 Hi 7616 Lo 7585
• Big Bank Basket: Falls to $201.82(0.2%).
• All-Tech Index:  Up 0.2%.
• Gold: Unchanged at $3092
• Bitcoin: Lower at US$51508
• 10-year Slightly lower at 4.15%.
• AUD: Steady at 65.56c
• Asian markets:  Japan up 1.6%, China up 0.3% and HK up slightly
• Dow Futures up 47 Nasdaq up 261

MAJOR MOVERS

• BRN +26.5% chip fever.
• BGA +13.0% no hard cheese on results.
• IFL +13.7% results beat.
• LOV +10.4% shorts squeezed on good results.
• DMP +7.7% broker upgrades.
• CSR +5.2% bid from Saint Gobain.
• 4DS +22.5% chip rally.
• UNI +13.2% good results.
• HPG +12.0% results and investor presentation.
• QAN -6.8% results slip.
• SYA -28.1% PLL sells out.
• MAF -20.5% results underwhelm.
• TAH -10.3% half-year results.
• CUV -12.1% sales drop.
• SUL -6.0% results.
• MAQ -4.9% minuscule volume.
• HSN -2.0% broker downgrades.
• TRS -15.6% margins fall.
• BRE -10.4% exercise option to acquire Sulista RE project.
• Speculative Stock of the Day: PharmAust (PAA) +25.0% forms world class advisory board.

COMPANY NEWS

ECONOMIC AND OTHER HEADLINES

Estimates for average weekly ordinary time earnings for full-time adults (seasonally adjusted):

• Increased by 4.5% annually to $1,888.80 in November 2023.
• For males were $2,183.30 (public), and $1,946.90 (private).
• For females were $1,956.80 (public), and $1,658.30 (private).

• Nikkei hits record briefly.
• Japanese companies have logged record quarterly profits in the three months that ended in December.

• Nvidia says market at ‘tipping point’ for AI.
• United resumes flights to Israel in first for US airlines.
• Electric-truck maker Rivian projects no production growth in 2024.
• China circumvents US tariffs by shipping more goods via Mexico.
• If you invested $1000 into Nvidia 10 years ago, it would now be worth $148,000.

And finally….

Clarence

XXX