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ASX 200 lost 48 points to 8326 (-0.6%) as nerves set in ahead of Nvidia and lack of follow-through from the move yesterday. Geo-politics weighing slightly as gains evaporated. Banks steady with WBC off 1.1% and the Big Bank Basket unchanged at $260.91. Insurers eased, MQG off 0.5% and NWL falling 3.3% on an update. REITs also under pressure, GMG off 0.2% and SCG down 1.1%. Industrials slid across the board, WES down 0.7%, ALL off 2.0% and retailers slipping, FLT down 1.5% and JBH off 1.2%. Tech slightly lower, XRO off 1.7% with the All–Tech Index off 0.45%. In resources, Gold miners held up but no clear signal, NST up 1.0% and RMS falling 1.0%. Lithium remains on the nose, iron ore majors were mixed with BHP off 0.6% and FMG unchanged. Energy stocks fell, WDS down 0.7% and PDN off 1.1% on Fission delays. In corporate news, NXG jumped 5.9% on permitting news, NCK fell 1.7% after it warned of delays in getting your new Italian sofa, and AMC fell 1.2% on the news of its latest mega-merger. On the economic front, the Chinese kept the LPR unchanged at 3.1%. Asian markets mixed again, Japan down 0.3%, China up 0.4% and HK off 0.1%. 10Y yields steady at 4.56%.

HIGHLIGHTS

  • Winners: CAT, NXG, IPX, RUL, RPL, FPR
  • Losers: PWH, APX, MAD, NEU, CTT, BRN
  • Positive Sectors: Gold miners
  • Negative sectors: Everything else.
  • ASX 200 Hi 8380 Lo 8318
  • Big Bank Basket: Steady at $260.91
  • All-Tech Index: Down 0.5%
  • Gold: Better at $4039
  • Bitcoin: Steady at US$92,227
  • 10-year yields ease to 4.56%.
  • AUD: Higher at 65.27c
  • Asian markets mixed again, Japan down 0.3% with China up 0.3% and HK off 0.1%
  • Dow Futures up 76 Nasdaq up 67

MARKET MOVERS

  • CAT +8.4% solid move higher.
  • NXG +5.9% permitting milestone.
  • RPL +5.3% cap raise helps FUM.
  • FPR +5.2% broker commentary.
  • PWH -24.6% trading update.
  • NEU -7.5% unwinding rally.
  • DRO -5.0% sinking.
  • CTT -6.6% luxury on the nose.
  • LIS –10.8% half decent volume too.
  • ATC -11.1% cap raise weighs.
  • Speculative Stock of the Day: Nothing on any volume.

COMPANIES

ECONOMIC AND OTHER NEWS

  • Nvidia tonight. Big move expected.
  • China leaves LPR unchanged at 3.1%.
  • Marc Rowan emerges as a top contender to be Trump’s Treasury secretary.
  • Trump chooses Linda McMahon to lead education department.
  • Head of Volkswagen’s North American division steps down.
  • SpaceX abandons attempt to catch Starship booster as Trump watches.
  • Milan beats London and New York as home to most expensive shopping street.

And finally….

Clarence

XXXX