ASX 200 kicked another 82 points higher to 8942 as BHP roared back into #1 spot on the ASX. Up 2.6% today. Fair to say resources were a little mixed, gold miners tried hard to suck the same ‘Koolaid’ as bullion traders, but failed, with EVN down 0.7% and NEM only up 1.4%. Most other were solid but not spectacular. Lithium and rare earth stocks felt a little pain, LYC down 5.0% and PLS off 2.4%. ILU dropped 4.6% with IPX down 3.8%. Copper stocks fared better as RIO jumped 1.7% and even FMG rose 1.7%. Uranium stocks fell with LOTDB falling the hardest down 7.7%. PDN eased 0.6% lower and BOE dropped 3.7%. WDS and STO pushed ahead on LNG pricing with STO up 2.5% as its first Barossa project cargo left port.

Banks were firm, the Big Bank Basket rose to $268.50 (). MQG had a good day in the sun, up 2.3% and insurers did well too, QBE up 1.4% and SUN rising 0.7%. REITs eased back, industrials mixed, WES rose 2.3% and COL and WOW moved higher. BXB fell 1.0% and tech still patchy at best. XRO down 1.4% and WTC up 1.9% with the All-Tech Index up 0.9%.

In corporate news, DRO fell 6.5% on a quarterly update, KAR slightly higher after production report, AUB in a trading halt with a $400m placement pending on a UK acquisition. On the economic front, Australian business sentiment rebounded ahead of the Reserve Bank meeting, with confidence advancing to 3 points in December.

Asian markets firmed, Japan up 0.6% China up 0.3% and HK up 1.1%. Dow futures down 44, Nasdaq up 142.

10-year yields steady at 4.84%.

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The S&P 500 rose on Monday as traders monitored political developments and braced for a big week of key earnings reports as well as the latest Federal Reserve interest rate decision.

The broad market index advanced 0.50% to end at 6,950.23. The Dow Jones Industrial Average gained 313.69 points, or 0.64%, and settled at at 49,412.40. The Nasdaq Composite climbed 0.43% and closed at 23,601.36. The tech-heavy index was supported by jumps of about 3%, 2% and 1% in Apple, Meta Platforms and Microsoft, respectively, ahead of their earnings reports later in the week.

Gold and silver shine - SPI up 37 - Quarterlies continue

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The ASX 200 limped into the Australia Day weekend rising a modest 11 pts to 8860. Down around 44 points for the week. But what a ride! A reverse of yesterday’s moves. Banks eased, CBA down 0.8% and WBC off 0.4%. The Big Bank Basket fell back to $266.78 (-0.6%). Insurers dropped with QBE down 1.8% and SUN off 1.4%. Other financials were mixed, ZIP up 5.2% and XYZ rising 1.0%. GQG drifted 1.0% lower and NWL rallied 4.1% on latest numbers. REITs fell again, SCG down 1.2% and VCX down 1.2% with GMG bucking the trend up 0.9%. Some buyers returned to the tech space as 360 roared 27.4% ahead after posting better than expected numbers. WTC moved 0.3% higher with XRO finding some support, up 3.5%. The All- Tech Index rose 2.2%. Finally, some signs of life. Industrials drifted lower, QAN down 1.5% with RMD falling 2.7% and WOW and COL easing.

In resources, BHP rallied 0.7% on copper price rises, RIO lost 1.5% and FMG was unchanged on broker research. Gold miners soared again, gold bullion the catalyst. NST bounced 5.4% with EVN up 5.3% and GGP soaring 7.6%. Rare earths were slightly better and Greenland exposed stocks did well. EUR up 8.9% and ETM rising 18.8%. Uranium stocks held on to gains, PDN down 0.4% and DYL rising 1.7% with LOTDB doing well, up 13.3%. STO continues its Barossa inspired rally, up 1.3%.

In corporate news, GYG firmed as Uber Eats will now deliver your burrito. AAI fell 0.8% on results. CSC fell 3.4% on a strike at Mantoverde.

Nothing locally on economic news, Japan kept rates unchanged ahead of the snap election.

Asian markets mixed, Japan up 2%, China down 0.5% and HK unchanged. Dow futures up 35 Nasdaq futures up 35 - 10-year yields higher at 4.82%.

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It was a positive night for US stocks with geopolitical risk continuing to moderate. The S&P500 rose 0.5% and the Nasdaq 0.9%. The VIX fell back to 15. The Trump tariff spooks seem to be getting less acute each time. The Russell 2000 went into fresh all time highs. The US small cap sector has now outperformed the S&P500 for the 14th session in a row. That’s the most since 1996. META rallied over 5% after announcing ads on its Threads platform and positive analyst coverage. TSLA bounced 3.8%. Gold rose over 1% to hit another record high above $4,900 per ounce while silver and platinum also achieved records. Good economic news came via the US consumer spending data, which increased in November and October. The Bureau of Economic Analysis said it rose 0.5% in both months. The US economy is growing at its fastest pace in 2 years according to their modelling. The US grew 4.4% in the third quarter.

SPI Futures down 8 points. ASX set to open mildly down. Gold rallies again.

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The ASX 200 rallied 66 points to 8849 (0.8%) on Greenland relief despite firmer than expected jobs data putting a Feb rate rise on the table. The reverse of yesterday’s moves as banks and industrials bounced back with resources sold off. Some disappointing quarterlies in the gold sector plus some overbought saw profit taking. Bullion prices also eased on the TACO man’s latest back flip with pike. Banks were firm, CBA up % and WBC rising % with the Big Bank Basket up to $268.35 (+2.2%). MQG had a good day and other financials also doing well, GDG the exception on quarterly FUM numbers. REITs also doing well despite the unemployment number coming in at 4.1% and the AUD rallying hard. 10-year yields back up to 4.80%. Industrials firmed, retail bounced, WES up 2.5% and CSL rose 1.3% with RMD up 1.9%. Tech still a troubled sector, WTC dropped 0.5% and XRO down 1.2%. The All-Tech Index up 0.6%.

In resources, it was reverse all engines. BHP down 0.8% and FMG dropping 5.1% on production disappointment. The gold miners were savaged today, yesterday they were all the rage. EVN gave 4.6% back and NST had another bad quarterly and downgrade leading to a fiery analyst briefing. Off 8.4%. Oil and gas better as was lithium and rare earths. Uranium stocks eked out gains, PDN managed to hold on to gains. Oil and gas stocks better on crude and natural gas pricing. STO up 5.3% on first shipments from Barossa and WDS up 2.9%.

In corporate news, S32 maintained its guidance, rising 5.3%, NWL down 3.8% despite second consecutive quarter of FUA growth. DYL up 0.9% on a Tumas update.

On the economic front, the jobless rate dropped to 4.1% setting up a rate rise in Feb. Every man and his economist now jumping on the rate rise bandwagon. None got the jobless rate even close.

Asian markets mixed, Japan up 2%, China down 0.5% and HK unchanged. Korea hit a record.

Dow futures up 104, Nasdaq futures up 75 - 10-year yields higher at 4.80%. AUD cracks 68c.

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There was a relief rally in the US markets overnight after Donald Trump moderated his rhetoric against the EU over Greenland and withdrew his tariffs threat, at least for the February deadline originally in place. He also ruled out taking Greenland by force. That said, he still wants it under American ownership. Both the Nasdaq and S&P500 rose over 1%. It was a broad based rally with every sector up except a tiny drop in utilities. The big chip stocks rallied strongly while the bounce in US big tech was slightly more moderate.

Energy led the way as a sector as oil finished up and natural gas rips up. They have risen over 50% over the last 2 sessions. There’s a cold spell hitting America and stoking heating demand.

SPI futures up 47 points. ASX set to open higher. Plenty of quarterlies. Gold hits record.

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It was a difficult night for US stocks with the SP500 down 2% and the Nasdaq down 2.4%. The VIX index hit 20, a 26% rise and gold topped US$4700. President Trump’s aggressive stance against the EU over Greenland plus weakness in Japanese bonds are pressuring the market. Reuters quotes the President as saying, “There is no going back”, when it comes to US control of Greenland. He’s also using the threat of tariffs to bend the EU to his will. They will go into effect on February 1 under the current timeline.

SPI Futures down 50 points. ASX set to open lower. Gold and silver hit records - RIO and EVN quarterly.

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