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The Good Morning Report

Posted on May 25, 2023

The latest market news, commentary and strategy by Adrian Rowney 

5 Things that Grabbed my Attention

1. US debt ceiling negotiators once again failed to come to an agreement. Stocks, bonds, precious metals and most commodities sold off as money poured into the perceived safety of the USD.....WESTERN investors still see USD as the ultimate safe haven, while in the EAST it is GOLD....Fascinating battle going on!

2. Food inflation in the UK is running at 19.1%....horrible situation for most.

3. Reserve Bank of NZ increased rates by 0.25% to 5.5%....Home loans across the ditch are now getting up around 8.5%.

4. US Oil & GAS giant Chevron is buying PDC Energy for US$6.3bn....M&A in the resource sector is continuing at a feverish pace. You see it is way cheaper to BUY than build these days.  

5. I think it is only a matter of time before we see Beach (BPT) get taken over. BUY last sale $1.415

ASX Market Update

ASX 200 down 46 points to 7259

As expected by the futures market, we followed Wall Street lower....The badly beaten up Star Group (SGR) fell 1.67% to close at a fresh all time low of $1.175. I am still giving the stock a wide berth until we know the size of the fines that are on the way from ASIC and AUSTRAC for all the money laundering shenanigans that went down.

Meet Nicole Rose, the big cheese over @ AUSTRAC.....Million dollar question is - which NICOLE will SGR get?

Random Observation

I think you have to be mad to bet against old mate. This little clip is classic!....BUY WDS, STO and BPT.

The two cards he can play to squeeze the shorts are: BUY a heap of OIL futures and implement production cuts.

The Day Ahead

  • Our SPI is down 43 points
  • Bitcoin down 3.8% to $26,215

Movements affecting our resource stocks today (USD)

  • BHP in the US down 3.4%
  • Newmont down 1.9%
  • Gold down 0.67% to $1961
  • Paper Silver down 1.96% to $23.16
  • Platinum down 2.75% to $1028
  • Copper down 2.5% to $3.56
  • Brent Crude up 1.2% to $77.80
  • Iron ore down 2.8% to $103

Asian Market Update

Japan down 0.89%, Hong Kong fell 1.62% and China dropped 1.28%

Perhaps a sign the GLOBAL economy is struggling....

Global Market Update

US Market

DOW down 255 points to 32,799

US debt ceiling negotiators once again failed to come to an agreement. Stocks, bonds, precious metals and most commodities sold off as money ran for the perceived safety of the USD.

European Markets

Germans fell 1.92%, Brits off 1.75% and Frenchies dropped 1.7%

UK inflation came in at 8.7% Vs 8.2% expected.....Food inflation is running at 19.1% which is a shockingly high number.

Key Market Summary

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June 22, 2023.
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January 12, 2023.
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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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