End of Day Report – Thursday 11 June: ASX 200 stages come back - Down only 20 - Resources stabilise - Banks smacked - CSL better - ECB and SpaceX

The ASX 200 staged a remarkable comeback to finish down only 20 points at 8633 (-0.2%) after falling nearly 100 points in early trade. A stronger US futures market helped, as did a calming in the oil price and the absence of any collapse in Korea.Once again, though, we saw sector rotation, with the banks still under pressure. CBA fell 2.4%, WBC dropped 2.6%, and MQG eased 0.7%. The Big Bank Basket fell to $260.43 (-2.3%). Other financials performed slightly better, and insurers continued to do well, with QBE the star of the show, up 3.7%. REITs also gained, with CHC up 2.8% and SGP rising 3.3%. Industrials were a mixed bag. The rally in WES continues, and retail stocks held firm, with TLS up 0.4% and both WOW and COL continuing their strong winning streaks.Technology was once again very much on the nose, with tax-loss selling and ongoing pessimism surrounding SaaS business models. XRO fell 3.6%, WTC dropped 2.8%, and NXT was hit hard as well. Healthcare was a mixed bag of lollies, with CSL continuing to push higher, gaining another 4.2%. However, RMD fell 0.9%, while SIG continued to drift lower on concerns about a UK expansion push.Meanwhile, resources recovered some poise, although the move lacked conviction. BHP rose 1.0%, and some lithium names improved, with PLS rising alongside LTR, which enjoyed a strong day, up 4.2%. Gold stocks also found some support, with EVN up 2.1% and RMS also edging higher. Oil and gas stocks were stronger, with WDS up 1.6% and STO jumping 2.0%. While coal stocks recovered, uranium stocks continued to struggle.In corporate news, LLC rose 4.6% following the appointment of a new CEO and the maintenance of guidance between 28 cents and 34 cents. NST fell slightly as Elliott Investment Management called for further board changes. SXL dropped 4.4% after the company downgraded its full-year earnings outlook and announced 300 job cuts. AAI fell 8.3% following a warning about its Middle East operations.In economic news, the CBA said the RBA is likely to keep rates on hold for the first time this year. Australian wages rose 0.8% in May, with consistent growth recorded over the last 18 months.Asian markets weaker. Japan flat, Hong Kong down 1.0%, and China down 0.7%. South Korea fell slightly.US futures: Dow up 88 and Nasdaq up 150. Oil up 1.0%. Europe opening easier. ECB expected to hike rates today.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.