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The Good Morning Report

Posted on July 20, 2023

The latest market news, commentary and strategy by Adrian Rowney 

5 Things that Grabbed my Attention

1. These unlisted OFFICE funds looks screwed....If you have any money tied up in them, get it out NOW and when I mean NOW I mean THIS MORNING!!!

2. Bank of America reported it's bond loses are $106bn and no one bats an eye lid!... This is surreal.

3. Gold Telegraph reported that since the year 1700 around 750 fiat currencies have been introduced but only 20% have survived and those have all been significantly devalued.

4. Energy stocks are starting to liven up again....I like BPT, WHC, STO, NHC, WDS, URNM, CRN and YAL....own a bit of each - I am not nearly talented enough to pick just one!

5. UK inflation came in at 7.9% vs 8.2% expected...certainly nothing to celebrate.

ASX Market Update

ASX 200 up 39 points to 7323

Banks and energy stocks were the major driver behind our market closing in the GREEN....NAB put on 1.12% WBC up 2%  and YAL rallied 3%.

Random Observation

Want a way out of the rat race?

The Day Ahead

  • Our SPI is down 4 points
  • Bitcoin up 0.82% to $30,016

Movements affecting our resource stocks today (USD)

  • BHP in the US down 1.13%
  • Newmont up 0.44%
  • Gold FLAT @ $1981
  • Paper Silver up 0.41% to $25.36
  • Platinum down 1.2% to $982
  • Copper down 0.38% to $3.81
  • Brent Crude down 0.15% to 79.51
  • Iron ore down 1.7% to $110.70

Asian Market Update

Japan up 1.24%, Hong Kong down 0.33% and China was FLAT

Nothing like keeping it in the family....LOL!!

Global Market Update

US Market

DOW up 109 points to 35,061

The DOW closed higher for the 8th consecutive day....Goldmans profit came in BELOW expectations, but traders didn't care - the stock closed up 1%!

European Markets

Brits up 1.8%, Germans and Frenchies were FLAT

Money poured into UK stocks after the weaker than expected inflation number of 7.9%....I wouldn't be popping champagne over that.

Key Market Summary

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