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The Good Morning Report

Posted on August 17, 2023

The latest market news, commentary and strategy by Adrian Rowney 

5 Things that Grabbed my Attention

1. Stocks, bonds, GOLD and commodities fell on Wall Street as the FEDERAL RESERVE warned that more interest rate hikes may by be necessary to tackle inflation.

2. Canadian inflation is ticking back up - came in at 3.3% vs 2.8% previous....Rising food prices and energy were the culprits.

3. Russia increased interest rates by a whopping 3.5% to 12% in order to stop the RUBLE from tanking any further.

4. Lithium prices have dropped for 25 consecutive days in a row to hit a fresh 3 month low - this is why LITHIUM MINERS are also under selling pressure....When will it turn??? I think it will take a GLOBAL AUTO MAKER making a big investment in one of the miners.

5. Mirvac (MGR) cut the value of it's property portfolio by $528 mil: office down 5.6%, retail lowered by 5.3% but  industrial increased by 6.2%.... MGR has lowered it's NTA to $2.64 - whilst the stock is trading at a discount to that ($2.37 last sale), I don't think you need to rush in.

ASX Market Update

ASX 200 down 109 points to 7195

Our market rolled over on fears that a weaker economy in China will have some negative consequences for us. If we start seeing job losses then look out - things could get very nasty indeed....On the positive - it was good to see two of our big positions - ETPMAG & PMGOLD both put on just under 1% each.

Random Observation

VinFast has a market cap of $85bn - more than the likes of FORD and GM....Got to be a CRAZY bubble.

The Day Ahead

  • Our SPI is down 24 points
  • Bitcoin down 0.2% to $29,110

Movements affecting our resource stocks today (USD)

  • BHP in the US down 1.8%
  • Newmont down 0.47%
  • Gold down 0.63% to $1923
  • Paper Silver down 0.82% to $22.47
  • Platinum down 0.5% to $887
  • Copper down 0.5% to $3.64
  • Brent Crude down 1.79% to $83.37
  • Iron ore down 0.3% to $100.35

Asian Market Update

China down 0.82%, Hong Kong down 1.36% and Japan fell 1.46%

These price cuts are likely to put some serious heat on the competition....Also notice how the 1% are winning big time - luxury items have been tanking in price, while essentials (food, energy, shelter) keep rising. This is going to be a particularly vicious cycle.

Global Market Update

US Market

DOW down 180 points to 34,765

US stocks rolled over again as the FED warned interest rates are likely to go higher. Everything pretty much sold off as the money poured into USD.

European Markets

Germans up 0.14%, Brits down 0.44%, Frenchies dipped 0.1%

After UK inflation rate dropped down to 6.8%, Gareth got on TV to push the usual government propaganda in true 1984 style...

Want the reality?....We have witnessed the greatest wealth heist of all time. Yes their plan has been executed just about flawlessly - that is true - but their plan from the beginning of the SCAMDEMIC was to strip the middle class of wealth and send it up to the 1%. Every single policy has been about crushing the working poor to bring in a welfare state....Amazingly - the majority of people can't see it - it's too late anyway.

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.

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June 22, 2023.
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January 12, 2023.
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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
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