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The Good Morning Report

Posted on July 11, 2023

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

General Advice Warning
The information provided in this post is general information only. Unless otherwise stated the information is not designed for the purpose of providing personal, financial or investment advice. Any examples are presented for illustration purposes and past performance is not a reliable indicator of future performance. The information provided does not take into account your particular investment objectives, financial situation or investment needs.

Without limiting the generality of the above paragraph no person, persons or organisation should invest monies or take action on the reliance of the material contained in this post, but instead should satisfy themselves independently (whether by expert advice or otherwise) of the appropriateness of any such action. Unless otherwise stated the information presented is not a recommendation to invest in any investments, securities or financial products.

This service, like all other financial services, is subject to market forces and unpredictable events that may adversely affect its future performance. Whilst all care has been taken in compiling information in this post, and is provided in good faith, it is not to be relied upon as a substitute for professional advice. The views expressed are commentary only and the writer accepts no responsibility for the accuracy, completeness or timeliness of the information.

Super Equity Pty Ltd ACN 609 373 202 is a Corporate Authorised Representative 001238425 of ANDIKA Pty Ltd AFSL 297069. It should also be noted that references and hyperlinks to any third party information (including, but not limited to: news articles, blogs, reports, videos or other mediums of information) is not an endorsement of that party or product.

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