The Good Morning Report

5 Things that Grabbed my Attention

1. US inflation came in at 4.9% Vs 5% expected. Falling energy prices have been a major contributor behind inflation dropping from 9%....I see weaker OIL price as being temporary.

2. The board of infant milk company BUBS (BUB), fired  CEO Kristy Carr who was also a co-founder....Apparently she didn't like following orders from the board - WOW!! Lawyers must be licking their chops over this one....Fortunately we don't have any exposure - what a SH#T STORM!

3. The budget from Chalmers will create more inflation, which will put upward pressure on interest rates....and this is while 28% of Aussies with a mortgage are currently experiencing mortgage stress.

4. Uranium stocks are on the move.....Big BOOM in Uranium is coming. Don't sleep on it.

5. AFR reported that builders behind over 5200 homes worth $2.2bn have collapsed since 2021....layers of misery.

ASX Market Update

ASX 200 down 8 points to 7264

Our market finished basically FLAT for the session but we had a couple of good movers with the URANIUM ETF putting on 4.7% and the Physical PLATINUM ETF closing 3.75% higher - I am predicting big things for both of these....When it comes to investing you don't want to over think things (especially now), so owning exposure to commodities that are in short supply (likely structurally challenged) just makes so much sense.... The other day I was having a squiz at Macquarie Bank's (MQG) latest presso - the whole thing was just full of fuguzi, fagazi financial mumbo jumbo - and I thought... no way I could invest my lifesavings into this stock and sleep easy at night knowing there is over 2 quadrillion worth of derivatives swooshing around the financial system....So we will just keep on keeping it simple! Sound like a good plan to you?

Random Observation

Click on the link and have a read of some of the comments.....But I hope you all realize that the Bank of Canada or any other central bank for that matter, doesn't give a flying stuff what the peasants think....CBDCs are happening.

📣Hey Canada, we need your input!

Our public consultation on a potential #DigitalCanadianDollar is now LIVE. #HaveYourSay by June 19: https://t.co/p8BdG3tQ9h pic.twitter.com/vKRoBfAngu

— Bank of Canada (@bankofcanada) May 8, 2023

The Day Ahead

• Our SPI is down 28 points
• Bitcoin down 0.8% to $27,453

Movements affecting our resource stocks today (USD)

• BHP in the US was down 1.9%
• Gold down 0.3% to $2036
• Paper Silver down 1% to $25.60
• Platinum up 0.83% to $1125
• Copper down 1.33% to $3.83
• Brent Crude down 1.18% to $76.53
• Iron ore down 2.3% to $105

Asian Market Update

Japan down 0.41%, China fell 1.15% and Hong Kong off 0.53%

Xi Man is putting on a clinic, while Modi has dropped the ball...I didn't realize how big the trade imbalance was until now - drive a double decker bus through that!

Global Market Update

US Market

DOW down 30 points to 33,531

A bit of money found its way into TECH after the weaker than expected inflation number; the NASDAQ closed 1% higher.

European Markets

Germans down 0.37%, Brits off 0.29% and CAC fell 0.49%

European stocks closed moderately lower as traders digested the inflation data out of the US....The ECB meets tomorrow with the market expecting another rate hike of 0.25%.