The Good Morning Report – 29th November

The latest market news, commentary and strategy by Adrian Rowney 

Today's Report proudly sponsored by:

 

5 Things that Grabbed my Attention

1.Gold is currently fetching 81 times the price of SILVER yet around only 8 times more SILVER is mined each year Vs GOLD.....So if I'm a big GOLD bull, what does that make me on SILVER?

2. Newmont (NEM) pays quarterly dividends unlike most other ASX listed blue chips which pay every 6 months....NEM goes Ex dividend today of 40 US cents which will be around AUD 60c.

3. We are going to see a fresh wave of price hikes in healthcare within the next six months. Both Ramsay (RHC) and Healius (HLS)  have warned that rising costs (in particular wages) are chewing into margins - therefore the price of their services will have to rise to compensate.

4. Mega Chinese clothing company SHEIN is planning to IPO on the NYSE with a valuation of US$90bn.

5. RBA governor Bullocks says she is 'we've  been  surprised  a  little  bit  on  the  strength  of  activity'....That's code for - rates are going higher.

ASX Market Update

ASX 200 up 27 points to 7015

Our market recovered a bit of what it lost in the previous session....Collins Foods (CKF) was the best performer, up 8.6% after reporting that Aussies were smashing KFC at a faster rate than what analysts were expecting. Market was also happy to see some of us even taking a liking to their new Taco Bell stores.... Now I have to ask - does anyone else hate themselves after gorging on some of that greasy dirty bird or is that just a sensation unique to me?

Elsewhere a few of the GOLDIES perked up. Kingsgate (KCN) rallied 6.59% to $1.375 - I think it is headed to $1.75 and Regis (RRL) put on 5% to $1.88 with a good chance it will have a quick run up to $2.30.

Random Observation

How's this for a coincidence - VISA shares also hit a record!

 

The Day Ahead

  • Our SPI is up 4 points
  • Bitcoin up 2.7% to $37,950
  • BHP in US up 0.5%
  • Newmont in US up 6% (go you good thing!!!)
  • Block Inc in US up 5.5% (that'll make Tracy@SuperEquity happy)

Movements affecting our resource stocks today (USD)

  • Gold up 1.4% to $2041
  • Paper Silver up 1.3% to $25
  • Platinum up 2.8% to $950
  • Copper up 1% to $3.80
  • Brent Crude up 2.2% to $81.75
  • Iron ore down 2.9% to $128.80

Asian Market Update

Japan down 0.12%, Hong Kong down 1% and China up 0.23%

No chance he would risk upsetting his supreme leader by saying anything else.

How's that nervous smile on old mate?!....You can have that job!! HAHAHA.

Global Market Update

US Market

DOW up 83 points to 35,416

We are hearing about how strong the US consumer is with Black Friday records breaking thanks to online spending...but the mood on the street seems to be painting an entirely different picture. The consumer makes up about 70% of the US economy - so it's critically important to get a handle of what's going on.

European Markets

Brits FLAT, Germans up 0.16% and Frenchies dipped 0.21%

I'm filing this one for later....

And it only took the offshoring of big chunks of German industry to China to solve it!

'Germany’s energy-intensive manufacturing production is down by around 17% since the start of 2022 and shows no sign of recovering.'

Key Market Summary

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Stephen Hall
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