ASX 200 ended the week sprinting 69 points higher to 8295 (+0.8%). A good 2.2% rise for the week. It has been a momentous week, money being put to work in the ASX. Resources buoyed by China hopes. BHP, RIO and FMG all better despite iron ore in Singapore falling 2.6%. Gold miners recovered as bullion pushed up again, NST up 1.8% and NEM up 1.2%. Uranium stocks ran out of ‘oompf’ on Cameco production downgrade and oil and gas stocks eased. Lithium stocks mixed, PLS eased 1.0% with LTR up 2.5% despite the royalty ruling. Industrials and banks the driving force. Healthcare recovered, CSL up 0.7% and RMD up 1.1%. Tech better, WTC up another 1.8%, XRO rising 1.2% with the All-Tech Index up 1.0%. Retail better, JBH up 3.9% with PMV up 1.9% and DMP bouncing 1.3%. Travel stocks also finding friends, with FLT up 0.8% and CTD rising 2.5%. Banks were solid. CBA leading again up 1.4% with WBC, the Big Bank Basket up to $253.24 (+1.4%). Record highs. ANZ results were a little underwhelming but nothing either way, expect some modest downgrades, as we saw with NAB and WBC. MQG flat with other financials better. In corporate news, NEU jumped another 15.1% on strong US Daybue sales, REA up 0.3% on results, NWS off 2.1% on a revenue surge on Real Estate exposure. MYX rallied 15.1% on M&A hopes. Nothing on the economic front, apart from the Fed! Asian markets better, China heading for its best week in a month. Japan -0.1%, China down 0.5% and HK down 0.9%.

Why not sign up for a free trial? Get access to expert market insights and manage your investments with confidence.

Ready to invest in yourself? Join the Marcus Today community.

The S&P 500 gained 0.74% to close at a record high of 5,973.10. The Nasdaq Composite advanced 1.51% to reach 19,269.46 — its first close above 19,000. The Dow Jones Industrial Average was little changed, ticking down less than one point to 43,729.34. All three indexes hit intraday record highs during the session.
Fed cuts rates 25bps. Very calm press conference. Powell will not resign if asked.

ASX SPI up 100. Commodities bounce on USD falls and rate cut – ANZ cuts dividend.

Why not sign up for a free trial? Get access to expert market insights and manage your investments with confidence.

Ready to invest in yourself? Join the Marcus Today community.

ASX 200 rose 27 points with a late surge to 8226 (0.9%) in an interesting reaction to a soaring US market. Resources actually held up with BHP up 0.9% and FMG up 3.3%. Lithium stocks also better led by PLS up 3.4%. MIN up another 3.3% despite the ASIC inquiry becoming official. Gold stocks were in trouble as stop losses kicked in, NST down 6.3% with EVN off 6.5%. Oil and gas stocks marched ahead, WDS up 3.2% and STO up 2.4%. Uranium losses were modest. Banks firmed at the close, NAB flat on results, WBC down 2.3% as it went XD. The Big Bank Basket up to $249.81(%). Insurers popped higher, QBE at 4.8% and IAG up 2.8% on higher yields. MQG rallied 1.6% as US Investment banks soared on more M&A possibilities. REITs slid as yields rose. GMG dropped 2.4% despite broker upgrades. Healthcare eased, RMD down 2.2% and CSL off 0.8%. Industrials mixed as investors assess the landscape. WES off 0.1%, JBH down 0.9% and SVW up 2.7%. WTC slightly firmer, up 2.0%. The All-Tech Index up 0.9%. In corporate news, SIG got the right prescription from the ACCC on the Chemist Warehouse, rising 24.9%, NEC got hit with a protest vote and NHF was up 1.9% after a trading update. In economic news, RBA chief made some comments on tariffs having little effect on our economy. Chinese export data came in much better than forecast. Asian markets were little changed, HK up 1.2%, China up 0.7% and Japan down 0.3%. An uneasy calm. 10-year yields at 4.64%.

Why not sign up for a free trial? Get access to expert market insights and manage your investments with confidence.

Ready to invest in yourself? Join the Marcus Today community.