The ASX 200 is down 33 points (-0.5%), worse than the 12-point loss SPI Futures had expected. The script has flipped from yesterday, resources are back up, and financials are down. Financials are weighing on the market, the Big Bank Basket is down 1.6% to $182.19. The resources are outperforming, with iron ore mines moving higher. Energy stocks are also finding some gains, with coal stocks racing higher. Smaller lithium miners hurting a bit again today. Gold miners are on the nose, despite the gold price moving higher overnight. SFR is bucking the trend, up 7.3%, as it withdraws from Doolgunna Farm In agreement. Tech stocks are mixed following a good night in the US, the All-Tech Index is down 0.4%. Australia’s wage price index rose 1% in the third quarter of the year, with annual growth now at 3.1%. Dow Futures are down 120 points, and NASDAQ Futures are off 53 points.
Anyone who has been in broking will tell you that the Morning Meeting is how all brokers start the day. The format is to have a quick look at the overnight markets, consider what's coming up in the day ahead, hear from the analysts, share ideas and get set up for the day's stock market activity.
