ASX 200 rose 7 points to close near to a record of 8603. Once again, we saw the sell-off in CBA down % with ANZ the main beneficiary up %. The Big Bank Basket fell to $281.10 (-0.3%). Financial services back in favour, NWL up 0.6% and PNI flying up 3.4%. HUB also doing well, insurers bouncing back slightly, REITs better with GMG up 0.9% and SCG up 1.1%. Healthcare also better, CSL up 0.7% and RMD up 1.4% with tech better, WTC up 1.1% and the All-Tech Index up 0.3%. Retail rose, AX1 up 2.8% and PMV rising 1.4%. Travel stocks better too. Resources were back on the nose. One day wonder? BHP down 1.4% with RIO off 1.3% and lithium stocks drooping, PLS off 0.7%. Gold miners were mixed, NEM up 0.4% and GMD down 1.2%. Oil and gas flat with profit taking in coal miners and uranium stalling.

In corporate news, SLH up 23.3% as ACCC gives it the green light. MND up 0.7% on contract news, and RUL up 14.0%, doing well on an update. Nothing on the economic front.

US Markets closed tonight. Futures off slightly.

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Wall Street continued to reach new heights as a stronger-than-expected nonfarm payrolls report reinforced the strength of the US economy and Nvidia approached a valuation of $4T, coming close to breaking Apple’s record as the most valuable company ever. S&P 500 up 0.83%, Nasdaq up 1.02%. Dow rose early in the day and steadied from about 11am onwards, ending the session near its high. Up 344 points. All sectors up with the worst performing sector, Materials, remaining flat after a positive Wednesday. Financials the best performer, positive reaction to nonfarm payrolls and underlying strength of US economy. Tech a close second. ServiceNow and Crowdstrike both recorded gains of around 3.5%. Nvidia gained 1.3% as it comes close to becoming the most valuable company ever. Utilities was the third best performing sector, demonstrating the breadth of the previous session’s euphoria – yields ticked up after nonfarm payrolls dashed hopes of a July cut, should have dampened Utilities performance.

ASX to rise. SPI futures up 26 points (+0.3%).

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ASX 200 down 2 to 8596 on a volatile day as banks saw selling and money move to BHP and other resources. CBA was down for another day, as its now four out of five down days closing off % with the Big Bank Basket down to $282.16% (-1.6%). ANZ outperformed up 0.5%. Financials under pressure across the board, MQG down 0.8% and insurers falling hard. QBE off 2.2% and SUN down 3.4%. Defensives generally on the nose, TLS down 1.2% and REA off 3.4% with WES falling 2.0% together with WOW and COL. Tech mixed as XRO fell again and WTC up 1.2% despite more front-page news! Healthcare mixed, CSL up 0.5% and PME racing 7.8% ahead on news of two contract wins. Resources were the stars today, at least BHP up 5.6% with RIO and FMG also up but more modestly, around 1.8%. Gold miners finding some friends, NEM up 1.4% and WAF up 1.3%. Lithium stocks better, PLS up 11.3% with LTR rising 5.0%, MIN up 7.8% with coal stocks also back in favour, WHC up 8.2%. Uranium stocks eased back. WDS and STO slightly better.

In corporate news, GLF rose 4.1% on its debit. VGN sinking 1.9% towards issue price. RPL ran 9.3% on $35m performance fee. On the economic front we had the trade balance numbers. Asian markets mixed, Japan unchanged, China up 0.6% and HK down 0.8%.

10-year yields rising to 4.18%

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