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The Good Morning Report

Posted on September 14, 2023

The latest market news, commentary and strategy by Adrian Rowney 

5 Things that Grabbed my Attention

1. US inflation rate is ticking back up again....3.7% doesn't sound like much but that is 3.7% on top of the big rip of inflation that came through last year. Working poor are getting crushed as the wealth gushes up to the 1%.

2. EV fires are becoming more regular - decent one on Tues @ Sydney Airport....Buyer beware - insurance premiums for EVs in the future are going to cost an arm and two legs!

3. US auto loan delinquencies hit the highest level since the GFC....Tracy @ SuperEquity pointed out to me that the data is way worse than back then because the unemployment rate was 5.8% Vs 3.8% now....The coming crisis is going to be one for the ages.

4. Orange Juice futures continue to surge.

5. Sandal maker Birkenstock has filed for an IPO on the NYSE with a valuation of $US8bn - new shareholders should pray these things don't go out of fashion.

ASX Market Update

ASX 200 down 53 points to 7153

Choppy trading on our market continues - kind of  feels like GROUND HOG DAY considering the ASX 200 has gone absolutely nowhere over the past few years....IGO was the worst performer (down 7%) but it also went ex dividend of 60c fully franked.

"And the ASX 200 closed at 7153 points for the 786th time".

Random Observation

Can someone please explain to me why a WALL STREET private equity mob wants to takeover Costa Group (CGC) which is Australia's largest citrus grower? I'm seriously baffled guys....

The Day Ahead

  • Our SPI is down 5 points
  • Bitcoin up 0.6% to $26,128

Movements affecting our resource stocks today (USD)

  • BHP in the US down 0.77%
  • Newmont up 1%
  • Gold down 0.19% to $1931
  • Paper Silver down 1.25% to $23.11
  • Platinum down 1% to $903
  • Copper  down 0.25% to $3.78
  • Brent Crude down 0.14% to $91.94
  • Iron ore up 0.3% to $119.45

Asian Market Update

Japan down 0.21%, China off 0.45% and Hong Kong was FLAT

Also those predicting that China would magically start exporting deflation to the rest of the world are in for a rude shock.

Global Market Update

US Market

DOW down -0.2%

US inflation came in at 3.7% vs 3.6% expected by the market. Surprisingly, investors decreased the odds of future rate hikes.

European Markets

Germans off 0.39%, Brits FLAT and Frogs fell 0.42%

BP CEO Bernard Looney was sacked after it came out he had been having it off with more than one of his underlings. BP shares finished FLAT - the market was never impressed with this guy so it was a bit of a non-event for shareholders.

"I only had 3, maybe 4 on the go in the head office and perhaps a few more at our various global outposts....I was the top boss...the big dog...what was I supposed to do?"

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.

Excellent
Based on 9 reviews
Stephen Hall
Stephen Hall
September 21, 2023.
Tracy & Adrian's knowledge/experience with financial markets, greater global & domestic political/economic impacts & individual companies/stocks is not just unique & refreshing, but also gives great peace of mind. Having a team this capable taking care of your hard earned to help avoid knowable negative impacts, and/or take advantage of opportunities well ahead of time is like nothing I've experienced before. Could not recommend highly enough. Subscribe to Adrian's newsletter too if you want a no B.S. commentary that is unlike the sanitised drivel coming from mainstream financial reporting.
jeff allott
jeff allott
June 22, 2023.
Sound knowledgeable and friendly service with advise tailored to my requirements
Natalie Gaby
Natalie Gaby
January 12, 2023.
I highly recommend Super Equity to anyone needing assistance or guidance with their Super. Tracy was very thorough and clearly explained how Super works and why she made particular recommendations for us. Her (and the team's) customer service is outstanding with being very personalised, and we look forward to a long working relationship with them.
Charlie Gimblett
Charlie Gimblett
August 8, 2022.
A huge thanks To Tracy And Adrian from Super Equity for sharing their knowledge on the recent Introduction To The Stock market Course I attended. The course was fabulous and gave a great insight on how the world operates from Share Markets, to Economic Cycles, World Currencies and great tips on how to look for opportunities on how and where to invest based on local news and world events along with overseas markets and indicators. Also thanks again Adrian for the Silver coin for 1st prize as part of the demo share market game we played over the duration of the course. Would thoroughly recommend the Stock Market course as well Tracy and Adrian's knowledge on our own investments. Cheers Charlie
Leigh P
Leigh P
April 29, 2022.
Tracy has been a pleasure to deal with. Found her very approachable and patient. She is very knowledgeable in super funds and I would highly recommend her to anyone who needs more education on how to make their super work for them.
Lena Diez
Lena Diez
February 25, 2022.
My husband and I have had the privilege of receiving the guidance, services and support from Tracy for over 5 years. Having joined Super Equity has been one of the best financial decisions we have made to date. Tracy's extensive experience and knowledge has guided and helped us improve in our financial journey. No question is to silly, Tracy is always available for any query you have and gives us the time to explain our portfolio and investments. Receiving the daily morning reports has been helpful to understand and learn the market. We have always highly recommended and will not hesitate to recommend Tracy and team for any and all financial guidance. Thank you Tracy and look forward to your continual support.
Tessa Daal
Tessa Daal
October 13, 2016.
Tracy has been an amazing teacher. I have gone from having no idea about what my super was doing and feeling really overwhelmed by the thought of all that it involved, to now being in control and understanding. Through super equity's I have a transparent, easy to understand managed fund. Tracy has even put me into contact with advisors specialised in life insurance and income protection. I cannot thank Tracy enough for empowering me and helping me organise all my affairs. If you need someone patient an knowledgeable to organise your super and investment portfolio, Tracy is the best!!
Dianne Bentley
Dianne Bentley
July 8, 2016.
The service and support received from Super Equity has reached and surpassed all our expectations. Having previous experience with stock brokering firms over an 11 year period has highlighted to me how superior the service and support received from Tracy Askew at Super Equity is. For myself and for my clients. Tracy's in depth fundamental and technical knowledge in all areas of the market reduces many hours of my time in the research needed to be successful and profitable for myself and my clients.