Happy New Year! Did you miss me? Nah, thought not!

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% and SUN off 2.2%. Other financials also under pressure, MQG down 2.4% and GQG off 3.8%. IFL better, a rarity, on another competing bid from Bain at 430c. SQ2 and ZIP under pressure with retail also on the nose today thanks to PMV and MYR trading updates. Challenging mentioned four times! WES also fell 2.3% with LOV down another 1.8% on broker downgrades. Tech stocks eased, WTC down 3.6% and XRO off 2.8% with the All–Tech Index down 2.6%. Resources fared better, the ‘Three Amigos’ BHP, FMG and RIO barely changed, MIN up 2.0% and gold stocks better as AUD hit highs again. NST up 1.3% and EVN up 1.2%. Energy stocks getting a boost from oil prices. WDS up 2.0% and STO rising 2.2%. In corporate news, quarterlies are kicking off. MYR and PMV fell hard on trading updates, NWL fell 9.9% on a Citi downgrade, NWH dropped 9.5% on a CFO change. Nothing on the economic front locally. Chinese trade surplus soared to US$1 trillion on pre-Trump exports. Record exports and weak imports.

HIGHLIGHTS

• Winners: PDI, NAN, HGH, VUL, GOR, KAR, PDN, DYL
• Losers: MYR, PMV, NWH, CSC, TEA, CAT, WBT
• Positive Sectors: Gold miners. Oil and gas. Uranium. Lithium.
• Negative sectors: Banks. Insurers. REITs, Retail. Tech.
• ASX 200 Hi 8286 Lo 8161
• Big Bank Basket: Lower at $ 250.75
• All-Tech Index: Down 2.6%
• Gold: higher at AUD$4379
• Bitcoin: Higher at US$94509
• 10-year yields 4.63%
• AUD: Steady at 61.33c
• In Asian markets, Japan closed for coming-of-age day – HK down 1.4% and China down 0.5%.
• Dow Futures down 77 Nasdaq down 120.

MARKET MOVERS

• KAR +3.6% oil bubbling away.
• PDN +3.4% becoming a substantial shareholder.
• VUL +3.7% production of battery quality LHM
• ETM +19.4% Julie Bishop joins ‘Team Greenland’.
• SGR +13.6% becoming a substantial shareholder.
• 4DX +7.1% US DoD to conduct paid CT VQ pilot ahead of FDA submission.
• TTT +3.0% US leadership appointments.
• SYR +6.7% US$165m tax credit.
• MYR -23.1% trading update.
• PMV -15.9% trading update.
• NWH -9.5% CFO resigns.
• SBM -10.7% Q2 update
• Speculative Stock of the Day: EQN +35.0% High grade titanium at Mata da Corda.

And finally…