Another day, another drubbing as the ASX falls 104 points to 7786 (1.3%) with banks soggy again. The Big Bank Basket down to $236.66 (-1.7%) with NAB and WBC the worst affected. MQG dropped another 1.4% with ASX off 3.8% despite good volumes recently. GQG fell 2.4% and CGF off 1.5%. REITs also in the seller’s sights, GMG bucked the trend, up 0.5% and SGP off 1.0% with healthcare under pressure as the holy trinity of CSL, RMD and COH all lost ground. Industrials found it tough going today, TCL fell 1.9% with WES off 2.6% and BXB down 2.6% with ALL slipping 1.6%. Retail once again saw selling, JBH off 1.0% and NCK down 3.5%. Travel stocks all fell, significantly as did gaming stocks, tech slipped with WTC down 1.7% and XRO off 1.1% as the All–Tech Index dropped 1.1%. Resources were again a mixed bag; gold miners rallied but somewhat muted, RMS fell 8.7% on a disappointing mine plan, EVN rose 0.8% and NEM was up 1.5%. BHP and RIO all fell 1.8% with FMG finding some friends up 1.5%. Lithium remains depressed and uranium stocks mixed. PDN up 2.7% and DYL up 3.2%. Oil and gas stocks eased back. In corporate news, IPH fell 10.0% as the CFO quit. Nothing on the economic front with US CPI due tonight. Asian markets eased slightly and 10-year yields rose to 4.43%.

HIGHLIGHTS

  • Winners: NIC, TEA, PDU, CYL, CRN, CSC
  • Losers: ASB, IPH, RMS, SIQ, CTD, KLS
  • Positive Sectors: Gold miners.
  • Negative Sectors: Everything else.
  • ASX 200 Hi 7879 Lo 7734
  • Big Bank Basket: Falls to $236.66 (-1.7%)
  • All-Tech Index: Down 1.1%
  • Gold: Rises to AUD$4636
  • Bitcoin: Rallies to US$81812 – Bounces off lows.
  • 10-year yields rise to 4.43%.
  • AUD: Steady at 62.90c
  • Asian markets: Japan up 0.3%, HK off 0.5% and CSI China off 0.2%
  • Dow futures up 70 Nasdaq up 67

MARKET MOVERS

  • NIC +8.3% oversold yesterday.
  • TEA +6.6% investor roadshow.
  • CYL +5.8% bouncing back.
  • RPL +4.6% bargain hunters.
  • DYL +3.2% bottom fishing.
  • JLG +3.4% small bounce.
  • SPR +3.3% gold exposure.
  • NMG +15.4% recent drilling results. SSOTD recently.
  • ETM +9.2% Greenland votes.
  • ASB -22.0% capital raising weighs.
  • IPH -10.0% CFO resigns.
  • RMD -4.8% slipping lower.
  • RMS -8.7% mine plan disappoints analysts.
  • PGC -4.8% half-yearly report.
  • BET -4.6% losing one.
  • BRE -3.4% issues in Brazil.
  • Speculative Stock of the Day: Nothing on any volume.

And finally….

My old man talks so much about Elvis sometimes
I just want a little
less conversation

I hired a handyman and gave him a to-do list.
When I got home only items 1, 3, and 5 got done.

Turns out he only does odd jobs.

Clarence

XXXX