Subscribe to the Good Morning Report

Call:

1300 319 018
View more news

The Good Morning Report

Posted on July 26, 2023

The latest market news, commentary and strategy by Adrian Rowney 

5 Things that Grabbed my Attention

1. Xi Man released plans on how his government is going to pump just about every sector of the economy, however no spending amounts were given.....Our large cap miners reacted positively with BHP and RIO both putting on over 3%

2. HangSeng Tech Index surged 6% yesterday....ASIA Tech Tigers ETF is set to make a mighty comeback. BUY last sale $7.52

3. India is banning exports of RICE....We will see shortages and price spikes in other countries as India accounts for 40% of the world's total exports.

4. The coming Auto Loan crisis in the USA is going to be a doozey....repossessions are beginning to show as these higher interest rates bite.

5. Eurozone banks saw a record drop in company loan demand...Looks like CEOs are battening down the hatches.

ASX Market Update

ASX 200 up 33 points to 7339

Large cap resources reacted positively to the news that Xi Man plans on pumping up China's tires....YAL put on 3.4%, SFR rallied 4.3% and WDS added 1.2%.

Random Observation

Here is an wild story behind the potato futures blowup on the NYMEX back in 1976.....

Well worth reading the whole thing...here is the link.

The Day Ahead

  • Our SPI is up 19 points
  • Bitcoin up 0.7% t o$29,262

Movements affecting our resource stocks today (USD)

  • BHP in the US up 4.39%
  • Newmont up 0.88%
  • Gold up 0.21% to $1966
  • Paper Silver up 0.9% to $24.85
  • Platinum up 0.93% to $978.50
  • Copper up 1.75% to $3.92
  • Brent Crude up 0.86% to $83.45
  • Iron ore FLAT @ $112.50

Asian Market Update

Japan was FLAT, China up 2.13%, Hong Kong surged 4%

Money is coming back into ASIAN TECH which has done nothing all year, while the NASDAQ has surged 33%....BUY ASIA last sale $7.52

Global Market Update

US Market

DOW up 26 points to 35,438

The DOW managed to squeeze out its 12th consecutive day of gains....Industrial conglomerate 3M was the top performer putting on 5% after raising forward profit guidance.

European Markets

Germans up 0.13%, Brits added 0.17% and Frenchies dipped 0.16%

If you thought inflation in the UK was bad, spare a thought for the Hungarians who are getting properly smashed....There is also a good chance that Hungary will be the next nation to leave the EU. 

 

Key Market Summary

General Advice Warning
The information provided in this post is general information only. Unless otherwise stated the information is not designed for the purpose of providing personal, financial or investment advice. Any examples are presented for illustration purposes and past performance is not a reliable indicator of future performance. The information provided does not take into account your particular investment objectives, financial situation or investment needs.

Without limiting the generality of the above paragraph no person, persons or organisation should invest monies or take action on the reliance of the material contained in this post, but instead should satisfy themselves independently (whether by expert advice or otherwise) of the appropriateness of any such action. Unless otherwise stated the information presented is not a recommendation to invest in any investments, securities or financial products.

This service, like all other financial services, is subject to market forces and unpredictable events that may adversely affect its future performance. Whilst all care has been taken in compiling information in this post, and is provided in good faith, it is not to be relied upon as a substitute for professional advice. The views expressed are commentary only and the writer accepts no responsibility for the accuracy, completeness or timeliness of the information.

Super Equity Pty Ltd ACN 609 373 202 is a Corporate Authorised Representative 001238425 of ANDIKA Pty Ltd AFSL 297069. It should also be noted that references and hyperlinks to any third party information (including, but not limited to: news articles, blogs, reports, videos or other mediums of information) is not an endorsement of that party or product.