End of Day Report – Thursday 15 October: ASX 200 recovers to close down only 8 - Banks shoot higher up 3% on Jobs - Resources smacked - AI related sold - Defensives in fashion

The ASX 200 recovered to close down just 8 points at 8,720 after hitting a low this morning of 8,641 on a pullback in AI and risk across the board. The catalyst for the turnaround was the banks, which had a very strong day, with **CBA** up 3.3%, **WBC** up 2.9%, and good results from **BOQ** helping sentiment. The **Big Bank Basket** rallied 3%. The jobs data came in at a headline rate of 4.7%, which may give the RBA an excuse to pause for the time being. Insurers, too, rallied, with **QBE** up 2.7% and **SUN** up 2.2%, although we did see financials generally weaker and **MQG** slipping 1.3%. Industrials, and interest-rate-sensitive stocks had a good day, with **TCL** up 1.9%, **QAN** rallying 1.1%, and **TLS** up 1.9% on the back of defensive buying. Both **WOW** and **COL** also had good days on defensive qualities. Tech stocks, though, slipped again, with **XRO** down 3.0%, and **TNE** down 1.9%, with **MP1** crashing another 10.1%, along with other data centre companies like **NXT,** off 7.4%. Healthcare stocks were mixed, with **CSL** pushing another 1.3% higher, but **PME** slipping today. Resources were where the damage was done, together with the data centres. **BHP** fell 4.7%, with **RIO** also down heavily. Once again, we saw lithium and rare earth stocks under serious pressure, with **PLS** down 6.3%, **LYC** down 6.6%, and **MIN** down 4.9%. Gold miners slipped slightly on lower bullion prices as fears of further rate rises in the U.S. hurt sentiment. A slowdown in the rollout of the data centres in the U.S. continues to hurt the uranium sector, with **PDN** down 5.1% and **DYL** down 5.8%. Coal stocks are joining in the weakness today, with **WHC** falling 4.5%. In corporate news, the rot continues at **MGH,** down 11.0%, as its founder pulled out of a conference. We also saw numbers today from **BOQ** which were slightly better than anticipated, and an update from **TWE** also helped them rise 4.6%. In takeover news today, TPG (PE Group) surprised the market by taking a 14.9% stake in **EQT**. **INA** also had a tough day after Warburg Pincus gave the company a Monday deadline on its acquisition proposal. It dropped 11.6%. On the economic front, unemployment fell to 4.7%, worse than expected by economists, with employment falling by nearly 40,000 against a consensus of 20,000 jobs created. 10-year yields ease to 5.21%. US Futures – Dow down 6, Nasdaq down 242. **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.