ASX 200 futures are down 5pts (-0.05%) as of 8:30 am AEDT.
In a nutshell:
S&P 500 failed to extend yesterday's bounce amid weakness across most sectors and Nvidia down 4.1%
Fed kept rates on hold, flagged solid labour markets and elevated inflation
Long list of resource quarterlies today including MinRes and Sandfire, plus a first-half FY25 result from Credit Corp
Let's dive in.
Thu 30 Jan 25, 8:27am (AEDT)
Thu 30 Jan 25, 8:27am (AEDT)
Major US benchmarks finished lower but off worst levels
Modest weakness came after Wednesday’s bounce, but S&P 500 and Nasdaq still down a respective 1.0% and 1.6% for the week
Equal-weight S&P 500 outperformed by 15 bps after lagging yesterday on weak breadth
Today’s big story – Fed kept rates on hold. While mostly a non-event, takeaways leaned hawkish given views on firm labour market and elevated inflation
Trump sticking to 1-Feb deadline for tariffs on Canada and Mexico (RT)
DeepSeek selloff exposes broader market risks around Big Tech concentration (BBG)
Tech selloff not a bear market signal, low probability of falling profits, says Goldman Sachs (BBG)
Levered ETFs revenues up 37% year-on-year to US$940bn as speculators look to magnify returns (BBG)
ASML rallied 4.3% after Q4 earnings beat, reported €7.09bn in net bookings vs. €3.9bn estimates, representing a 169% increase on the previous quarter (CNBC)
Starbucks soars 8.1% as it beats low earnings expectations for Q4, reported EPS of 69 cents vs. 67 cents estimates (FT)
Amazon announces dozens of corporate job cuts, mostly focused on communications department (BBG)
Advantest, Nvidia partner, lifts FY forecast almost 40% in anticipation of elevated spending around AI (BBG)
LVMH shares fall as sales growth fails to impress with wealthy shoppers remaining consumers (RT)
Ozempic wins US regulatory approval to treat chronic kidney disease with type 2 diabetes (BBG)
Fed held rates at 4.25-4.5% as expected, says labour market remains “solid” (from previous “generally eased”) and inflation “remains somewhat elevated (changed from “has made progress toward the Committee’s 2% objective) (BBG)
Bank of Canada cuts by 25 bp, as expected, warns of price increases from tariff threats (BBG)
Sweden's central bank cut rates by 25 bp, signals end of its easing campaign (BBG)
ECB to cut rates as Europe eyes Trump tariffs, traders bet ECB will need to deepen and accelerate rate cuts (BBG)
Traders scoop up leveraged NVDA ETFs, betting on quick rebound (RT)
DeepSeek threatens to lower demand for Nvidia's top chips, some say concerns overblown (lFT)
DeepSeek's more efficient model threatens growth forecasts for energy industry (BBG)
Microsoft, OpenAI suspect group linked to DeepSeek may have improperly obtained OpenAI data (FT)
White House assessing national security implications from DeepSeek amid claims of IP theft (RT)
Alibaba releases AI model it says beats DeepSeek (RT)
Thu 30 Jan 25, 8:25am (AEDT)
Euroz Hartleys guides to 501% year-on-year NPAT growth to $6.3m (EZL)
MinRes reiterates FY25 guidance, with Onslow Iron progressing towards its nameplate 35Mtpa run rate (MIN)
Sandfire Resources lifts 1H25 production by 5% to 75.1kt (representing 49% of annual guidance), retained full-year guidance with volumes now expected to be marginally skewed to 2H (SFR)
Sigma Healthcare receives 100% Chemist Warehouse shareholder approval for proposed merger, implementation to occur on 12-Feb (SIG)
Vulcan Energy holder Hancock Prospecting decreases stake from 6.5% to 7.5% (VUL)
Credit Corp – One of the first companies to report 1H25 results. Macquarie is forecasting $287.4m revenue, $86.7m EBITDA, $46.2m NPAT and an interim dividend of 34 cents per share
Accent Group downgraded to Neutral from Buy; target cut to $2.43 from $2.47 (JARD)
Accent Group downgraded to Neutral from Buy; target cut to $2.10 from $2.35 (JARD)
Bluescope Steel assumed Buy; target up to $24.60 from $18.37 (JEF)
Vault Minerals upgraded to Buy from Overweight; target up to $0.52 from $0.52 (JARD)
Stocks trading ex-dividend:
Thu 30 Jan: Djerriwarrh Investments (DJW) – $0.072, 360 Capital Mortgage REIT (TCF) – $0.052, Perpetual Credit Income Trust (PCI) – $0.007, KKR Credit Income Fund (KKC) – $0.017, Gryphon Capital Income Trust (GCI) – $0.014
Fri 31 Jan: Metrics Income Opportunities Trust (MOT) – $0.016, Metrics Master Income Trust (MXT) – $0.014, Metrics Real Estate Multi-Strategy Fund (MRE) – $0.01
Mon 3 Feb: Australian Foundation Investment Company (AFI) – $0.12, BKI Investment Company (BKI) – $0.039, Pengana Global Private Credit Trust (PCX) – $0.012
Tue 4 Feb: Amcil (AMH) – $0.01
Other ASX corporate actions today:
Dividends paid: Bravura Solutions (BVS), RAM Essential Services (REP), Region Group (RGN), Tower (TWR)
Listing: None
Earnings: Credit Corp (CCP), Champion Iron (CIA)
AGMs: None
Economic calendar (AEDT):
4:30 pm: France GDP Growth (Q4)
7:00 pm: Germany GDP Growth (Q4)
8:00 pm: Eurozone GDP Growth (Q4)
11:15 pm: ECB Interest Rate Decision (Consensus: 25 bp cut)
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