Marcus Take Wednesday – Big Tech pause, China scepticism, Lithium rally over

Was that the Big Tech Top? Far too early to say. And Nvidia was up. Our Futures only down 10 – a lack of Tech helps sometimes. Cynicism over China’s “meaningless” 5% GDP target. Concerns for Tesla’s and Apple’s Chinese sales. Lithium smashed again – Albermarle exploits the froth. Goldman predicts 25% fall in lithium from here. Short covering rally won’t last. Bond yields conming down nicely. Powell speaks 2am Thursday morning. Bitcoin tops out for a day. Lots of ex-dividends again.

End of Day Report – GDP Result Disappoints Falling Short of Expectations

ASX 200 flips to close at 7734 up 9 (+0.1%), turning positive as GDP number disappoints and hopes for a rate cut brought forward. Banks once again the drivers of the market, with the Big Bank Basket up to $208.37 (+1.1%). MQG kicked 0.5% higher, ASX up 0.4% and health insurers up. REITs mixed, GMG…

Pre-Market Report

US equities fell sharply overnight, pressured by a fall in megacap growth companies like Apple and the chip sector ahead of Powell tomorrow and NFP on Friday. The Dow fell 405 points (-1.04%), down 532 points at worst, the S&P 500 lost 1.02%, and the NASDAQ fell 1.65%. Tech, growth, and momentum sectors were hit…

End of Day Report – Gold Stocks Leap on Record High Bullion Prices

ASX fell 12 points at 7724 (-0.2%). Some weakness in a few sectors weighed. Banks eased back with the Big Bank Basket down to $206.08 (-0.8%). CBA leading the loss, off 1.0%. MQG slipped 0.3%, and GQG fell 1.8%, with REITs down a tad. Industrials weaker across the board, looking a little tired after reporting…