The ASX 200 kicked 80 points to 8789, or 0.9%, after a relatively benign CPI number came in at 4%. Most sectors of the market rallied, with the exception of the banking sector, which still is under a cloud due to economic headwinds from higher inflation and higher interest rates. The Big Bank Basket closed relatively unchanged. We did see insurers, though, kick slightly higher, with SUN up 4.8%, and other financials also doing okay. ASX up 1.9%, and SOL up 1.8%. We also saw the REIT sector put in a good day today, with GMG up 3.9%, GPT up 2.9%, and SGP up 4.8%, on the hopes that the last rate rise was the last rate rise. Industrials were firm across the board, with retail doing especially well. WES up 3.0%, and JBH up 4.7%. TLS also had a good day, up 1.3%, together with REA after the Irish acquisition yesterday, gaining 5.9%. WOW and COL also rising slightly. In the healthcare sector, CSL continued to push higher, up 1.1%, although the technology sector did take a bit of a break today, with WTC off 1.2% and XRO falling 1.9%. The All-Tech Index was up 0.8%, but it was all about interest-rate-sensitive stocks rallying hard. The resource sector, too, was modestly higher, with BHP up 0.3%, RIO up 1.6%, and the gold sector doing okay, although nothing stellar. NST continued to run higher on rumors of an increased offer from Goldfields, but we continue to see pressure on lithium stocks as the price in China languishes after a miserable September. PLS dropped 0.3%, and MIN dropped 0.2%. Meanwhile, in the oil and gas space, WDS rose slightly, as did STO, and we saw a little bit of selling in the uranium sector. In corporate news, LLC had a good day, jumping more than 11.3% on an update on the sale of its stake in Keaton Retirement Living. A blast from the past: CTT had a very good day today, up 30.6% on news from Italy on a potential VAT win. Economic news dominated today, with the CPI coming in at 4%, slightly below forecasts. Economists around the country were quick to pronounce on whether the RBA would be raising rates in November or whether the RBA would be on hold going forward. Lucy Ellis from Westpac said a November rate rise is now a base case. Asian markets pushed higher with Japan up 1.9%, HK flat and China up slightly 10-year yields lower at 5.34% on CPI. US Futures lower. Nasdaq down 10 and Dow up 202. 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.
