The latest market news, commentary and strategy by Adrian Rowney
5 Things that Grabbed my Attention
1. Start the week off with a solid belly laugh....Her latest is absolutely brilliant 10/10!!
Box Tickers | Pauline Hanson's Please Explain— Pauline Hanson 🇦🇺 (@PaulineHansonOz) May 18, 2023
What do you think happens when all it takes for someone to "prove" they are indigenous is for them to tick a box?
What happens when politicians are too gutless to do anything about it?
You will just have to tune in to today's… pic.twitter.com/pIcTIvexdf
2. Clown show over the US debt ceiling continues....On Friday talks broke down and were halted - now they are back on.
3. China overtook Japan last quarter to become the worlds top auto exporter.....Xi Man doesn't do second place.
4. Japanese stockmarket hit the highest level since 1990....It has only taken endless digital money printing and negative interest rates!
5. Looks like Chinese investors are going to come in hard for Aussie property.
ASX Market Update
ASX 200 up 42 points to 7279
Bit of a negative day for us as money mostly came out of resources and found its way into financials. There was some excitement for the banks on news that interest in our property market from the Chinese is surging - additional demand should hold things up as some Aussies get squeezed on the back of higher rates and inflation....NAB put on 1.5%, CBA up 1.8% and WBC added 1.29%.
These fresh sanctions won't do a thing to Russia, however UK manufacturers will be burdened with higher costs.....Clown show continues.
Here is a challenge....Can you identify the origin of the copper?
The Day Ahead
- Our SPI is down 14 points
- Bitcoin up 0.68% to $26,891 (Saturday morning price)
Movements affecting our resource stocks today (USD)
- BHP in the US were FLAT
- Newmont up 0.9%
- Gold up 1% to $1979
- Paper Silver up 1.6% to $24.02
- Platinum up 1.28% to $1071
- Copper up 1% to $3.72
- Brent Crude down 0.26% to $75.58
- Iron ore down 1.8% to $108.50
Asian Market Update
Japan up 0.77%, Hong Kong fell 1.4% and China dipped 0.42%
The Japanese stock market has been having a heck of a run lately, so my AVOID call has been WRONG thus far. I have been predicting a mega Japanese bond market collapse and also a currency crisis, however the Bank of Japan (BOJ) continues to prop things up by maintaining negative interest rates with endless digital money printing.....In my mind it is inevitable the BOJ will lose control of it's financial system - one day rampant inflation will be the pin that pricks the mother of all bond market bubbles.
Global Market Update
DOW down 109 points to 33,426
Shares traded lower as debt ceiling negotiations broke down while the market was open. After the close, negotiations restarted..
Germans up 0.69%, Brits added 0.19% and Frenchies put on 0.61%
The DAX (German market) closed at 16275 which is a fresh all time high as investors continue to pour into stocks without a care in the world!
Key Market Summary