The ASX 200 fell 34 points to 8583 (0.4%) as US futures stabilised and oil failed to kick despite weekend moves against Kharg Island. Banks held firm with CBA up 1.0% ahead of RBA. The Big Bank Basket rose to $300.96 (0.6%). Other financials also found some buyers with SOL up 1.1% and insurers slightly better. REITs were firm with GMG the exception as tech stocks remain as unloved as Khomeini. Industrials were mixed, WES recovered another 1.0% with TLS firming 1% and supermarkets stronger. Tech selling saw WTC down another 2.0% with XRO off 1.9% and the All-Tech Index down 1.3%. Retail drifted lower, JBH down 0.6% and PMV falling 1.3% with NCK falling another 0.5%.

In resources, the stronger USD and commodity price falls brought out the sellers. Gold hovered around $5000 with miners under pressure, NST falling % on broker downgrades, RRL ditched 8.3% with NEM off 4.2%. Lithium stocks eased too despite higher underlying prices, PLS down 2.7% and MIN fell 4.8%. Copper stocks and rare earths also down. LYC bucked the trend on a new deal with the US DoW. BHP, RIO and FMG all under pressure as the iron ore price flip flopped to losses in Asian trade. Oil and gas stocks firmed, WDS up 1.9% and STO 2.1% better.

In corporate news, S32 put its Mozambique aluminium smelter on care and maintenance. PPT sold its wealth business to Bain Capital for $500m. ORI settled long running litigation and KMD dumped 10.5% on news of another review of strategic funding options.

Nothing locally on the economic front, Chinese data better than expected as Trump talks a possible postponement of summit, unless China does not do its bit to get oil flowing. Day Two of Trade talks in Paris.

10-year yields steady at 4.98%.

Asian market weaker on oil prices, Japan down 0.3%, HK up 1.1% and China down 0.6%. Oil steady in Asian trade.

US Futures: Dow up 183 Nasdaq up 135

—

Marcus Today – Daily Market Insights

Marcus Today provides clear, practical commentary for self-directed investors – covering markets, portfolios, education, and decision-making without the noise.

If you'd like to go further:

Start a free 14-day trial of Marcus Today
http://bit.ly/mt-trial-podcast

Join Marcus Today
Use code MTPODCAST for 10% off
http://bit.ly/mt-join-podcast-offer

MT20 – Managed ETF Portfolio
A professionally managed portfolio run by Marcus Padley and the team, using ASX-listed ETFs with active market timing.
http://bit.ly/mt20-podcast

Principles – How We Think About Investing
A short video series on timing, behaviour, and decision-making. No stock tips.
http://bit.ly/mt-principles-podcast

—

Disclaimer
This podcast is general information only and does not consider your personal circumstances. It is not personal financial advice.