Marcus Today End of Day Podcast – Wednesday 5th April

ASX 200 closed up 1 point to 7237 in a boring day of trading. RBA rate pause apparently not stimulating markets as much as one would think.Phil Lowe's speech at the Press Club dominated. US Jobs numbers creating uncertainty in the global economy and helping to push gold ever higher. NST up 3.1%, NCM up 3.1% and EVN up 4%. Iron ore stocks fell,BHP down 1.5%, RIO down 0.9%. Lithium mixed but mostly up MIN down 0.3%, and LTR up 2.7%, PLS down 1.1% Oil and gas peaking from OPECs news WDS down 0.6%, and WHC down 3.9%, with NHC down 1.2%. The Big Bank Basket unchanged at $172.18. MQG dropped 0.7%, Nothing too exciting. MFG got slammed, down 4.1% after FUM dropped again. Insurers firm QBE up 1.4%. All Tech Index gaining in the last minute, up 0.7%, SQ2 up 0.8%. Quick look earlier in the day showed that the Tech sector has been one of the best performing sectors this year as it rebounds from last years falls. Healthcare mixed, REITs mixed as well, CHC unchanged and GMG down -1.1%. In corporate news, CMM gained as they reported positive results from the Karlawinda Gold Project, VEA also gaining on news of a $1.15bn acquisition. MFG reported $3.4bn of outflows sending the price ever further down. On the economic front, RBA Lowe said “The decision to hold rates steady this month does not imply that interest rate increases are over”. Asian markets better, Japan down 1.9%, China closed for Tomb Sweeping Day. 10-year yields steady at 3.25%. Dow futures down 27 points. NASDAQ futures down 13 points.

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