Episode Details

The ASX 200 rose 49 points to 8,736 (+0.6%) in a relatively quiet day. Broad-based gains today, with the Big Four banks pushing ahead slightly, NAB being the best of the bunch, and the Big Bank Basket hitting $263.66 (0.7%). MQG is continuing to push higher, and other financials are also doing better today, with the insurance sector up as QBE rose another 0.7% and IAG joined in, rising 1.3%.

 REITs also had a better day despite bond yields remaining elevated. SCG rose 2.7%, and VCX rose 3.2%. Healthcare is once again in the green, led by CSL, although COH slipped away again. Retail stocks were better, with WES up 0.5% and JBH up 0.6%, although once again we are seeing selling pressure in the tech space, with WTC down 2.5% and XRO down 1.4%. CDA took a breather today, falling 4.3%, and NXT is also under a little pressure, perhaps because of the Firmus book build.

Resources had a better day, and we saw signs of life in rare earths and lithium, with LYC up 2.1% and PLS also gaining 2.4%. BHP, RIO, and FMG also put on around 1.4% today. Gold miners were steady to mixed, with WGX up 0.6% and EVN down 0.9%. Oil and gas stocks were steady, and we saw a slight improvement in the coal space. Uranium stocks were also a little better, with PDN up 0.7%.

In corporate news, SKS was awarded a new $38m contract for a Melbourne data centre. DRO has poached RPL's company secretary, and GLS was in a trading halt pending the outcome of the entitlement offer. In economic news, we saw the Westpac-Melbourne Institute consumer sentiment dropping 4.7%, showing a very sharp pullback after the RBA's decision to lift rates. Concurrently, we also saw the ANZ-Roy Morgan consumer sentiment falling again for much the same reason.

Asian markets quiet with China closed for Golden Week. Japan up 0.7%, HK up 0.8%. China still closed.

10-year yields steady at 5.40%. US Futures drifting higher. Nasdaq up 25 and Dow up 60.

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