ASX 200 down 33 points 5323 after resources flopped on a rise in the US$ following the FOMC Minutes overnight. Miners and energy threw in the towel whilst banks held up relatively well and rallied into the close. Utilities and some market darlings, most obviously the Chinese facing foodstuff stocks, starting to see some profit taking. Asian markets mixed with China down 0.21% and Japan up 0.01%. AUD bounces off 72c, a two month low, with US futures down 25. SPI Expiry this morning distorted the opening and made it look better than it was before selling started in earnest and accelerated as the day wore on. The index bounced off its low at 5303. Jobs data was initially greeted with a yawn. Falling iron ore futures in Singapore did not help the miners case. (VIEW LINK)
Founder of the Marcus Today share market newsletter. Marcus is a stockbroker and has been advising institutional clients and a private client base for over 35 years.