The latest market news, commentary and strategy by Adrian Rowney
5 Things that Grabbed my Attention
1. There was FRENZIED BUYING into TECH after META announced a whopping $40bn share buyback and growth in users....Miners were SOLD off; BHP and RIO down about 4% in offshore trade.
2. PERU's congress just voted against an early election, so the situation will remain very ugly....Got COPPER? Got SILVER? - market is completely oblivious to the supply disruptions.
3. As Jerome Powell talks disinflation, we are still seeing wild swings in some commodities; Lumber for example has surged 40% over the past month.
4. Pfizer is warning of a steep drop off in sales for its COVID Vaccine it developed with the BILL GATES backed BioNtech; people across the world are now realizing what a BIG FAT SCAM it was - even BILL is now saying its a DUD - yet no one holds him accountable for the misery he created.....Myocarditis should not be part of our everyday vocab; What a CLOWN WORLD: AVOID Pfizer shares.
5. Intel is giving its worker force a pay cut - from the CEO all the way down.
ASX Market Update
ASX 200 up 9 points to 7511
The GOLD MINERS INDEX - XGD rallied a cool 4.2% which was kind of funny considering GOLD in Aussie Dollars only put on 0.22%....NCM finished 3.6% higher, NST added 4.5% and EVN increased 5.9%.
It was a good day for Mirko!
#He may not be as happy today with GOLD miners likely to reverse all those gains.
URNM which is the BETASHARES GLOBAL URANIUM ETF is a BUY....I like the look of these compact units that deliver clean and reliable 24hr power;
welcome to the nuclear future!— isabelle 🪐 (@isabelleboemeke) January 30, 2023
GE hitachi has officially signed its first contract to build a small modular reactor in north america.
it might sound small, but a 300 MW reactor can power over 250,000 US homes (!!) https://t.co/iZED9cuqZz
The Day Ahead
- Our SPI is up 11 points
- Bitcoin up 1.5% to $23,786
Movements affecting our resource stocks today (USD)
- BHP in the US down 3.5%
- Gold down 0.77% to $1927
- Paper Silver down 0.33% to $23.52
- Copper down 0.6% to $4.08
- Brent Crude down 1% to $82.04
- Iron ore down 1.8% to $123.80
Asian Market Update
China FLAT, Hong Kong down 0.5% and Japan put on 0.2%
Xi Man has the global SOLAR market just about stitched up; no way he was gong to do an 'Obama' and allow export of key INTELLECTUAL PROPERTY (IP)....You do have to give the Xi Man credit for not selling his country down the river.
Global Market Update
DOW down 39 points to 34,053
It was all about TECH overnight as frenzied buying saw the NASDAQ surge a whopping 3.25%....META popped 23%
FTSE up 0.76%, DAX rallied 2.16% and CAC put on 1.26%
Both the Bank of England and the ECB increased interest rates by 0.5%, but the market didn't care as traders poured their dough into TECH.
Key Market Summary