Episode Details

ASX 200 kicked off the week with a 42-point rise to 8759 (0.5%) as banks pushed higher. CBA up 0.6% and the Big Bank Basket up to $269.67 (%). Some flight to safety as the US administration moves against Jerome Powell. Insurers slipped on recent weather events, QBE down 1.4% and IAG off 3.6%. REITs were mixed, GMG up 0.4% and VCX slipping 0.7%. Industrials firm, WOW up 0.8% and COL up 2.4% despite price gouging inquiries in the wind. WES rallied 1.4% and TLS up 0.4%. The tech sector was slightly firmer with TNE up 0.9% and the All-Tech Index rose 0.4%. In resources, the big three iron ore miners slipped with BHP down 2.5% and FMG off 1.4% on some downgrades and fears of another Anglo bid from BHP. Gold miners rallied hard as gold hit record highs, NEM up 5.8% and GMD up 2.6%. Lithium also firm, PLS continuing higher, and uranium stocks slightly better. Oil and gas majors better as crude rises. 

In corporate news, DMP rose 3.1% on a new Australian CEO, RPL rose 4.7% on a trading update. CUV also up 1.4% on a new preclinical study. SUL dropped 5.3% On the economic front, November household spending rose 1%. More than expected.

Asian markets firmed, Japan closed for another holiday and US futures down on the Powell news.

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