The Good Morning Report

The latest market news, commentary and strategy by Adrian Rowney 

5 Things that Grabbed my Attention

1. US National Debt has already increased by $1 TRILLION since congress abandoned the debt ceiling....

2. China announced it's inflation rate is running at 0%.

3. Toyota said it's solid state battery has a range of 1000 kms and can recharge in 10 mins - sounds like they have found the holy grail doesn't it?....I'll believe it when I see it - this super battery of theirs was supposed to be in production back in 2017; they are now targeting a release date of 2027.

4. India doesn't seem keen on the idea of a BRICS  GOLD backed currency as it looks like they don't want to fall foul of the USA.....The upcoming BRICS meeting in August is going to be interesting.

5. AirBus Albo wants Australia to export  "Green Hydrogen" all the way to Germany....He lives in LaLa land - not only doesn't it stack up economically but it is environmentally damaging as well due to how grossly inefficient this form of energy is. The concept is mind bogglingly stupid.

ASX Market Update

ASX 200 down 38 points to 7004

Our market closed lower for the 4th consecutive session, only the GOLD and TECH sectors finished in the GREEN.

After outrage from the Wokes, the AFR was forced into saying sorry for running this cartoon last week...The TRUTH has become hate speech.

Random Observation

Toyota are saying their new solid state battery is going to require considerably less materials than existing ones. Proof will be in the pudding, but below highlights the major drawback of these batteries:

The Day Ahead

  • Our SPI is up 45 points
  • Bitcoin up 2% to $30,895

Movements affecting our resource stocks today (USD)

  • BHP in the US down 0.97%
  • Newmont up 0.88%
  • Gold FLAT @ $1930
  • Paper Silver up 0.2% to $23.35
  • Platinum up 1.89% to $935
  • Copper up 0.22% to $3.79
  • Brent Crude down 0.78% to $77.86

Asian Market Update

China up 0.22%, Japan fell 0.6% and Hong Kong up 0.6%

China has been enjoying some very cheap commodities which is keeping a lid on overall inflation. It is surprising to me as I actually predicted prices would take off once Xi Man lifted the lockdowns....Hard to know how long this glory run will last for as supplies look tight across the board.

Global Market Update

US Market

DOW up 209 points to 33,944

Massive fiscal stimulus (government spending) is certainly helping US stocks - the last TRILLION in debt has come in record time....The interest bill on this is zooming up - so can't see how this ends well. To counter this huge deficit spending, the Federal Reserve is currently reverse money printing (draining funds from the financial system and shrinking its balance sheet).

European Markets

Germans up 0.45%, Brits added 0.23% and Frenchies put on 0.45%

Serious question...are you happy paying ridiculous amounts of tax for these leeches?

Key Market Summary

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