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Henry Jennings of Marcus Today shares insights on market trends, noting that the local equities market dodged significant downturns seen on Wall Street, experiencing a late-day recovery driven by improved US futures performance.
Henry points to a rally in BHP (ASX:BHP) and Rio Tinto, with Rio Tinto (ASX:RIO) exploring bond purchases for its Arcadian deal, pleasing shareholders. He observes significant pullbacks in banks but emphasises their defensive nature due to domestic focus and dividend payouts
As tech sector losses mount, Henry remarks on the absence of the "Trump put", suggesting uncertainty and job losses under Trump's administration are sapping consumer confidence. Though hesitant, he hints at long-term gains despite short-term pain caused by current market fluctuations.
