Macro Monday: The lithium “squeeze” is unfolding nicely

In early February, one of the most dominating stories in the financial news was the plunging lithium price and demise of the related stocks. Less than 2-years ago, analysts were extrapolating huge demand for EVs over the decade ahead would continue to push the required materials, such as lithium, cobalt and nickel, ever higher, generating huge profits for the related miners, but as we now know, the demand for EVs has fallen short of estimates, especially in the influential US, which combined with increasing supply of lithium drove down prices over 80%, i.e. in this case making the market not wrong, but very wrong! However, all good things usually come to an end and in the case of the lithium “shorters” last week was a tough one, with heavyweight Pilbara (PLS) bouncing +19.4% taking it up +10.9% year-to-date.

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Alerts 25/02/2026 09:58

Trade Alerts – Active Growth & Income Portfolios

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Morning report 25/02/2026 09:44

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The ASX200 closed flat on Tuesday despite less than 40% of the main board advancing. The story at the stock/sector level remained the same, with miners and banks offsetting losses across the broader market. BHP, Westpac and NAB added 24 points to the index. BHP, often referred to as the Big Australian, made new all-time highs on Tuesday, trading above $55 for the first time while it reported strongly this month, its starting to remind us of the feeding frenzy where ETF and momentum buyers drove CBA towards $200 in the first half of 2025:

Afternoon report 24/02/2026 17:19

The Match Out: Benign index move masks underlying volatility

Morning report 24/02/2026 09:43

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Afternoon report 23/02/2026 17:30

The Match Out: US Tariff hike shrugged off early, selling intensifies through the session

The ASX drifted lower as renewed uncertainty around US trade policy weighed on risk appetite, while gold extended its rally. Markets reacted to the US Supreme Court curbing President Trump’s tariff powers, prompting him to flag a temporary 15% blanket tariff on imports. The policy whiplash lifted safe havens, pushed the Aussie dollar towards US70.9c, and reignited selling pressure in technology.

Morning report 23/02/2026 09:25

Macro Monday: Don’t panic around Trumps 15% tariffs

On Friday, the US Supreme Court struck down most of Trump’s sweeping tariff policy under the International Emergency Economic Powers Act, ruling in a 6-3 vote that the law does not authorise the president to impose tariffs. Markets reacted positively to the ruling, with stocks rising, including Amazon, up more than 2%, alongside gains in retailers Home Depot and Five Below, amid hopes of relief from tariff-driven cost pressures and sticky inflation.

Weekend report 21/02/2026 10:11

Weekend Q&A: Markets hang around all-time highs as Trump’s tariffs are thrown into limbo

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Afternoon report 20/02/2026 17:06

The Match Out: ASX holds steady near highs, QBE lifts on bumper result

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Morning report 20/02/2026 09:22

ETF Friday: Looking at Energy ETFs as Oil breaks above $US70/barrel

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Afternoon report 19/02/2026 17:28

The Match Out: ASX hits new all-time high amid a flurry of earnings reports

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