The Good Morning Report

The latest market news, commentary and strategy by Adrian Rowney 

5 Things that Grabbed my Attention

1. Stocks rallied on Wall Street after Biden told the press that America would not default.

2. Looks like the 30K+ Aussie customers of the failed FTX will get completely skunked....The IRS has a $66bn claim against FTX which basically means the US government will be feeding off what is left of the carcass.

3. Pfizer secured $US31bn in the fourth largest corporate bond issue of all time as it seeks to cash in on the CANCER BOOM. The deal was heavily oversubscribed with investor bids reaching a feverish US$85bn.....I definitely don't share the same enthusiasm for Pfizer as the market - in fact I think the pharma giant could be a ticking time bomb....see random observation for why.

4. Leading pathology/radiology Sonic Health Care (SHL) and hospital owner Ramsay (RHC) are my two preferred picks in the healthcare sector at the moment....Both should perform well in this current environment.

5. Japanese government has approved electricity distributors to increase prices to households by anywhere between 14% to 42%....nasty bit of inflation right there.

ASX Market Update

ASX 200 down 35 points to 7199

Following the weak lead out of Wall Street we closed down 0.5%.... Fertilizer and explosives manufacturer Incitec Pivot (IPL) was one of the worst performers falling 7%, after posting a slightly weaker than expected first half net profit of $362mil....Management are predicting a much improved second half so not sure why the market was getting their knickers in a knot - I suspect the sellers will regret their decision in the weeks ahead....I maintain my BUY last sale $2.94

Random Observation

Pfizer is definitely going to make huge $$$ as it plans to capitalise on the Cancer BOOM, so I get why investors are going giddy over its mega BOND issue....but...a growing number of health experts think Pfizer's experimental mRNA vaxx is behind the surge of the wicked disease.

Watch both of these clips...First is from Japanese professor Murakami of Tokyo Uni and the second from Dr Ryan Cole (we can only pray they are wrong).....Way too much uncertainty for my liking - thus I rate Pfizer an AVOID.


Meanwhile the FAKE NEWS media continue to gaslight the people....

The Day Ahead

  • Our SPI is up 40 points
  • Bitcoin up 0.3% to $27,107

Movements affecting our resource stocks today (USD)

  • BHP in the US up 1.7%
  • Newmont down 0.82%
  • Gold down 0.37% to $1985
  • Paper Silver up 0.18% to $23.95
  • Platinum up 1.14% to $1079
  • Copper up 2.2% to $3.74
  • Brent Crude up 2.5% to $76.78
  • Iron ore up 0.5% to $107

Asian Market Update

Japan up 0.84%, China down 0.21% and Hong Kong fell 2.09%

Elon Musk's take on China/Taiwan.....worth a listen.

Global Market Update

US Market

DOW rallied 408 points to 33,420

Stocks surged as Biden said the US would not default...he also cancelled his trip to Australia.

European Markets

Germans up 0.34%, Brits fell 0.36% and Frenchies were FLAT

UBS says it expects to take a $17bn financial hit as a result of taking over Credit Swisse...The market was not phased at all with the stock closing 2.3% higher.

Key Market Summary

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July 9, 2024.
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