The Good Morning Report – 12th of June

1. Investors pushed APPLE shares to a record high on excitement over APPLE Intelligence – a JV with Open AI which is 49% owned by Microsoft….All I see is the two largest companies in the world teaming up to make humanity stupid and woke.

2. Japan’s Itochu has decided not to sell it’s 15% stake in Whitehaven’s (WHC) Maules Creek coal mine…..Bugger, I was hoping WHC could pick up the stake on the cheap.

3. The beaten up Bapcor (BAP) received a $5.40 all cash takeover bid from US private equity mob Bain Capital.

4. The US government deficit increased by a whopping $348bn in the month of May alone; spending was $672bn while collections only came in at $324bn.…The debt is out control.

5. The other week I was predicting a huge short squeeze in our GOLD miners. I couldn’t have been more wrong – XGD (Gold miners index) got whacked 5.5% yesterday, so the shorts are still very much in control….I personally think you have to have a huge set of kahunas to short sell GOLD stocks.

ASX 200 down 104 points to 7755

The beaten up Bapcor (BAP) which owns the network of over 1000 Autobarns, was the talk of the town after receiving a $5.40 takeover bid from Bain Capital….The board of BAP are currently assessing the offer. BAP shares traded above $8.00 just 2 years ago and the $5.40 offer is lower than where it was 3 months ago.

BAP shares closed up 13.99% to $4.97.

Inflation continues to run wild in the mining sector sending this one to the wall…

  • SPI is down 38 points
  • Bitcoin down 3.4% to $67,423
  • BHP in US down 2.76%
  • Newmont in US down 1.56%
  • URNM in US down 4.98%

Movements affecting our resource stocks today (USD)

  • Gold up 0.3% to $2333
  • Paper Silver down 1.64% to $29.38
  • Platinum down 1.68% to $960
  • Copper down 1.76% to $894
  • Brent Crude up 0.64% to $82.15
  • Iron ore down 1.8% to $104.50

Japan up 0.25%, China down 0.76%, Hong Kong off 1.04%

Investors dumped GOLD miners in China on the news the PBOC didn’t buy any GOLD in May.

DOW down 120 points to 38,747

Apple shares surged 7% to a fresh record high. Investors have gone giddy over it’s JV with OpenAi (Microsoft) to make humanity stupid and to be easily brainwashed into government compliance….I understand the overwhelming majority of people can’t see it that way, but that is the brilliance of the propaganda.

AI is dumbing down society – heck, the youth these day’s can’t even write an email without pushing it through ChatGpt (owned by OpenAi which is Microsoft).

** I’ll never run my content through ChatGpt – you’d know anyway because all of a sudden I’d sound like an absolute tosser. Hahaha!

Germans down 0.68%, Brits off 0.98% and Frenchies fell 1.33%

Stocks rolled over despite the interest rate cut last week…..The market now seems to be concerned that the ECB cut rates because the European economy is up the duff.

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