The Good Morning Report – 13th of June

1. Apple rallied another 2.86% to a fresh record high and now equals Microsoft‘s market cap of $US3.26 trillion. Traders are anticipating the herd is going to gobble up Apple’s new AI iPhone….The dumbing down of society is set to gather steam!

2. Federal Reserve kept interest rates on HOLD @ 5.25% to 5.5%.

3. Gamestop (GME) raised just over US$2bn by issuing 75 million new shares @ $28.49. This deal wouldn’t have been possible without Roaring Kitty aka Keith Gill squeezing the stock after spending $65 million on call options.

4. Lend Lease (LLC) is now trading around it’s all time low price set back in the GFC….What a crap stock it has been – not as bad as AMP but it’s up there….Stuffing up both of these iconic businesses has taken immense skill and extraordinary effort. I’m serious – it would be hard to do!!

5. I consider buying PALLADIUM, which is trading US$200 below the average cost of extraction to be an exceptionally good deal. BUY ETPMPD last sale $125.42.

ASX 200 down 39 points to 7715

Another weaker session on our market as miners and banks closed mostly lower. A bit of money did come in for JB HiFi (JBH) + 1.86% and Harvey Norman (HVN) +0.67% on hopes demand for the new Apple AI iPhones will be through the roof.

“They will arrive out the front at about 8.30am on the day. We’ll pen them up before open and on the loud speaker, they’ll hear all about the latest buy now pay never deal. None of ’em can actually afford these phones and will sink further into a black hole of debt, but that’s not my problem!….Go Harvey Norman, Go Australia!”

Miners love climate change because the utterly insane response to it is commodity intensive.

Unions also love climate change because one day workers will have to dismantle these useless things and rebuild the base load power stations that they knocked down.

  • SPI is up 50 points
  • Bitcoin up 0.4% to $67,709
  • BHP in US up 1%
  • Newmont in US up 0.84%
  • URNM in US up 3.7%

Movements affecting our resource stocks today (USD)

  • Gold up 0.58% to $2340
  • Paper Silver up 1.79% to $29.79
  • Platinum up 0.55% to $964
  • Palladium up 2.15% to $909
  • Copper up 0.43% to $4.52
  • Brent Crude up 0.73% to $82.52
  • Iron ore up 0.8% to $104.55

Japan down 0.66%, Hong Kong off 1.3% and China up 0.31%

The Taiwan stock market hit a fresh all time high as TSMC which is the world’s largest chip maker, also hit a record….Warren Buffett must be kicking himself as he dumped $5bn worth of TSMC shares in 2023 – the stock has more than doubled since. Even the best of best make mistakes.

DOW down 35 points to 38,712

Pfizer CEO has been out and about promoting his snake oil to treat cancer after claiming he saved the world with the experimental mRNA jabs….This piece of work will say and do anything to pump the stock and make bank.

And isn’t it nice that the BBC journo just plays along as some of the greatest minds in health believe the jabs could be causing turbo cancer.

*Elon Musk says he was injured by the vaccine, so he doesn’t censor the health experts on X.

Germans up 1.42%, Brits added 0.83% and French put on 0.97%

The EU is slapping additional tariffs on Chinese autos….Going to be interesting to see the response from the Xi Man.

Trade wars are inflationary.

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July 9, 2024.
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