The Good Morning Report

The latest market news, commentary and strategy by Adrian Rowney 

5 Things that Grabbed my Attention

1. The boss of Oil and GAS giant Exxon said he wants to get into the LITHIUM market....That's good news for the Aussie producers; my preferred picks are PLS, MIN, IGO and CXO. 

2. Volumes on the ASX have dropped right off.

3. People creating adverts need to reskill due to AI....Watch this clip: 'Planet  Mountain  Dew,  the  place  where  all  your  dreams  come  true' ...hahaha!....PepsiCo should run with it.

4. As ultra low fixed rate mortgages roll over to significantly higher variable rates, we will see a growing number of economic zombie households (existing just to pay debt)....Consumer non-discretionary stocks are vulnerable to a slow down in spending as a result, unless migrants, tourists and cashed up baby boomers can pick up the slack.

5. EFTPOS terminal operator TYR fell 16%  after Potentia Capital withdrew its takeover bid....This follows on from Westpac pulling its takeover bid for TYR last December... I have had an AVOID on the stock since the IPO as I thought the payment system was nothing special and will likely be replaced by something better in the future.  TYR shares are now down 70% since 2021.

ASX Market Update

ASX 200 down 16 points to 7263

New Hope (NHC) released its quarterly activities report and I tell you what - the company is still raking it in. NHC has also restarted selling to the Chinese, so with increased competition for export quality COAL I wouldn't be surprised to see prices head higher over the next 6 months... BUY last sale $5.15

Random Observation

The current SOLAR BOOM will eventually trigger the mother of all SILVER BOOMS...

The Day Ahead

  • Our SPI is up 11 points
  • Bitcoin down 0.4% to $26,800

Movements affecting our resource stocks today (USD)

  • BHP in the US was FLAT
  • Newmont down 0.76%
  • Gold down 0.37% to $1974
  • Paper Silver down 1.12% to $23.79
  • Platinum up 0.17% to $1077
  • Copper down 1.49% to $3.67
  • Brent Crude up 0.62% to $76.05

Asian Market Update

Japan up 0.9%, Hong Kong put on 1.17% and China added 0.32%

The People's Bank of China (PBOC) kept interest rates on HOLD. The one year lending rates sits at 3.65% and the 5 year is 4.3%....The PBOC never got into that crazy game of cutting rates to ZERO or negative.

Global Market Update

US Market

DOW down 140 points to 33,286

DOW closed lower while the Tech heavy NASDAQ put on 0.5% as investors continue to get excited by AI.

European Markets

Brits up 0.18%, Germans off 0.32% and Frenchies down 0.18%

And can you believe this little tyrant has the gall to say China is increasingly 'AUTHORITARIAN' when he was behind shutting down UK businesses, coercing citizens to take the now proven poisonous vaccines and restricting movements. Plus did you know he made millions off Moderna shares - yeah you heard that right....They got obscenely rich and powerful while you got sick. In a real and just world the instigators like him would be in prison facing charges of crimes Vs humanity.

Key Market Summary

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Stephen Hall
Stephen Hall
September 21, 2023.
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June 22, 2023.
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