Wall St fell heavily overnight, it’s worst session in nearly a month. Dow Jones down 749 points, closing near the low. S&P 500 down 1.71% and the Nasdaq worst. Off 2.2%. S&P 500 and Nasdaq down 1.66% and 2.51% for the week. Consumer spending concerns grew and traders focused on tariff fears after Composite PMI numbers fell to the lowest level in over a year.

SPI down 64 - Results Continue

• Gold dropped a touch on profit taking but still managed a 1.9% weekly gain. Global gold stocks had a worse session. Sentiment potentially impacted by NEM (-5.7%) falling on results. The more tariff uncertainty, the better bullion will perform.
• Oil took a tumble. WTI down 3% after rising for most of the week. Blamed on Ukraine peace deals and reduced Middle-East risk.
• Copper gained on both the LME and CME. The copper market’s deficit fell from 124,000T in November to 22,000T in December.

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The ASX 200 fell another 27 points to 8296 (-0.3%) after an early rise, hitting a one- month low. Banks once again led us down, CBA dropping 2.6% and ANZ off 1.4% with the Big Bank Basket at $246.63 (-1.8%). MQG dropped 1.5% and ASX down 3.3% with QBE doing well on results and rose 3.0%. GMG put on another 1.0% and REITs were slightly mixed. Industrials suffered, WES down 1.9% and ALL continuing to slide down 1.2%. Retail still struggling, JBH off 0.4% and LOV down 2.8%. GYG dropped 14.3% on slower US growth. Apparently, they already have Mexican food there. LNW down 2,6% and JIN fell 8.8% on lack of big payouts. Tech fell, XRO down 1.3% with the All-Tech Index off 1.7%. Resources were generally better, iron ore miners rose on Chinese steel demand, BHP up 2.8% and RIO up 2.8%. PLS gave back some gains, MIN copped a rare upgrade from Barrenjoey, up 5.0% and gold miners were mixed. NEM rose then fell 2.4%, GMD bounced back 4.1% and SPR up 2.8%. DYL bounced back 5.1% with the sector becalmed. WDS and STO flat. YAL delivered good results and rose 3.0%. Om corporate news, The Americans are coming. CoStar bid for DHG and Cosette bid for MYX. SPK fell 19.2% on a guidance downgrade. AX1 rose 1.4% despite slashing dividends. TLX delivered yet again and EOL soared 29.7% on great numbers. In economic news, Japan’s inflation rate climbed to 4% up from 3.6% in December. Asian markets pushed higher again on Alibaba results, HK up 2.9%, China up 1.2%. 10-year yields steady at 4.51% Michelle Bullock’s comments in focus.

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Stocks retreated on Thursday following two days of all-time highs for the S&P 500 as investors dumped some popular names in the wake of a lacklustre forecast from retail giant Walmart that prompted questions about the outlook of the economy.

The Dow Jones Industrial Average lost 450.94 points, or 1.01%, to end at 44,176.65. The S&P 500 shed 0.43% and closed at 6,117.52, and the Nasdaq Composite dipped 0.47% and closed at 19,962.36.

SPI up 16 - QBE - GOR - DHG Bid - TLX

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