Marcus Today End of Day Podcast – Wednesday 29th November

The ASX200 rose 20 points to 7035 this afternoon as an inflation optimism rally faded. Technology was the stand-out, gaining all day on hopes the RBA will halt rate rises next year. WTC, XRO and NXT up 2%, 2.9% and 1.4%. Discretionary spending, REITs and Gold sectors also rallied in a similar vein. WES, JBH, HVN up 1%, 2.3% and 4.2%. NEM and EVN flew 5.4% each. Healthcare enjoyed strong demand from the open with CSL and RMD up 2.1% and 2.5%. Banks were mostly down. NAB, WBC and ANZ all lower while CBA and MQG stayed flat. Energy stocks were the worst performers as investors go risk-off ahead of Thursday’s OPEC+ meeting. WDS, STO and KAR down 0.7%, 0.9% and 2.4%. Big miners also fell as Dailian Iron Ore Futures dropped for the fifth straight session. BHP and FMG down 0.5% and 0.4%.

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