ASX 200 jumped 114 points to 8324 (+1.4%) following the US rally. Jobs numbers stifled gains to some extent coming in at 4% with any RBA cut in February a distant dream. Banks as usual led the charge higher as US banks delivered in spades, CBA up 3.0% and ANZ up 2.7% with the Big Bank Basket up to $256.84 (+2.9%). MQG put in a solid day up 3.2% with insurers and other financials also doing well. GQG finally saw some reasons to be cheerful, up 2.5%. REITs too were in demand led by tech GMG, up 3.2% and SGP leaping 3.7%. Industrials firmed, Tech did well with the All-Tech Index up 1.4% as WTC rallied 2.6% and XRO up 1.5%. TLS fell another 0.5% as the trading bots trumped the customer service bot upgrade. Retail found some friends as MYR and PMV rallied hard on the upcoming vote. In resources, Iron ore went nowhere, RIO production report failed to ignite any animal spirits, gold miners were generally better, GMD up 4.4% on a presentation and lithium stocks finding some support again. PLS up 2.2% and IGO up 0.6%. Energy stocks modestly better. DYL up 3.6% and STO up 1.0%. In corporate news, TAH soared on news of its first chief wagering officer. Whatever that is. NEU rallied hard on a Healthcare conference presentation. On the economic front, economists were once again wrong-footed with soaring PT jobs created and the headline rate modestly higher at 4%. RBA will continue to be sidelined!

HIGHLIGHTS

• Winners: NEU, ZIP, MYR, CTD, KAR, TAH, JHX
• Losers: VUL, OML, SPR, MMS, STX, CTT, DRO
• Positive Sectors: Banks. Tech. REITs. Gold.
• Negative sectors: Nothing.
• ASX 200 Hi 8346 Lo 8085
• Big Bank Basket: Soars to $256.84 (+2.9%)
• All-Tech Index: Up 1.4%
• Gold: Higher at AUD$4347
• Bitcoin: Higher at US$99558
• 10-year yields back to 4.51%
• AUD: Fell to 62.10c
• In Asian markets, Japan up 0.3%, HK up 0.8% and China unchanged.
• Dow Futures unchanged Nasdaq down 12

MARKET MOVERS

• NEU +11.5% presentation and guidance.
• ZIP +10.0% SEZL (US) update brings bulls back.
• CTD +6.8% creeping higher.
• MYR +7.3% PMV +3.7% vote nears.
• GMD +4.4% Portfolio update.
• MEK +12.2% 10m @15.71g;t AU at Murchinson.
• VUL -3.9% drifts towards SPP price.
• IPX -1.6% downgrades.
• ETM -12.4% Greenland fades.
• Speculative Stock of the Day: Condor Energy (CND) +42.1% good volume too. Following the announcement of an independent assessment of the Piedra Redonda gas field resource.

ECONOMIC AND OTHER NEWS

• Australia’s unemployment rate remained low in December as the economy extended a streak of hiring gains. The jobless rate rose to 4%, with jobs jumping by 56300, driven almost entirely by part-time jobs. Full-time roles fell by 23,700 while part-time jumped by 80,000 It was Christmas after all. Rate cuts off the agenda for now. Were they ever really on the agenda!

• The Bank of Korea held its benchmark policy rate at 3% in a surprise move so as to assess changes in domestic and external economic conditions
• Investors pour billions into S&P equal weight fund as tech fears rise.
• Indonesia unexpectedly cuts rates and lowers growth forecast.
• Tesla started offering discounts on new Cybertruck vehicles in its inventory this week

And finally…

Clarence

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