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The Good Morning Report

Posted on May 3, 2023

The latest market news, commentary and strategy by Adrian Rowney 

5 Things that Grabbed my Attention

1. RBA increased interest rates by 0.25% with more coming down the pipe...I guess Dr Phil doesn't want property prices to climb too high before the new arrivals touch down!

2. The size of the bank failures already this year in the US has eclipsed the GFC (and it's still early days!)....PacWest Bancorp crashed 25% last night - could be the next one to go.

3. FED announces its decision on interest rate tomorrow. Will Jerome Powell hike into this banking crisis??

4.Wholesale electricity prices in NSW have surged since AGL shutdown the Liddell coal fired power station....Consumers can look forward to much higher prices in the future - that's a guarantee!

5. Pay attention - it's starting....IBM announced it is replacing 7800 positions with AI.....and it was only the other week that Moderna & IBM decided to team up with this:

Don't worry...the combination of mRNA, quantum computing and AI make perfect sense (for the demonic globalists that is!)

ASX Market Update

ASX 200 down 67 points to 7267

Dr Phil surprised with a 0.25% rate hike to 3.85%...The bond market was pricing in that the RBA was done with rate increases this year and the next move would be a cut around December......To those that tell me the "MARKET IS NEVER WRONG"....I say, NO the market REGULARLY gets it wrong!

Anyway - Aussies are continuing to get squeezed, property will unlikely rocket before the new arrivals touch down and more people will be looking for government assistance to make ends meet (which will warm Albo's socialist heart).

"Enjoying the GREAT RESET yet?....Hook, line and sinker...suckers...HAHAHA - now get your booster!!!"

Random Observation

This is going to be very interesting to watch....Although I am not getting my hopes up for the people of Zimbabwe as the government is super corrupt.

The Day Ahead

  • Our SPI is down 51 points
  • Bitcoin up 1.57% to $28,593

Movements affecting our resource stocks today (USD)

  • BHP in the US down 2%
  • Gold up 1.67% to $2025
  • Paper Silver up 1.55% to $25.62
  • Platinum up 0.84% to $1073
  • Copper down 1.56% to $3.87
  • Brent Crude down 4.93% to 75.40

Asian Market Update

Japan up 0.12%, Hong Kong added 0.2% and China was SHUT

Now this is really surprising to me....Xi Man was supposed to be cranking things right up after the lockdown....Looks like China has hit a snag.

With steel demand and production down, it is easy to see why hard coking coal and iron ore have been on the nose of late.

Global Market Update

US Market

DOW down 350 points to 33,702

Does this PacWest Bancorp chart indicate to you the banking crisis is over or contained?....If it does, then I want to know how much you are spending on CRACK per week.

 

European Markets

Germans fell 1.23%, Brits off by 1.24% and Frenchies lost 1.45%

BP shares fell 7.72% after reporting it's quarterly profit came in lower than expected.

Key Market Summary

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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.

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June 22, 2023.
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January 12, 2023.
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August 8, 2022.
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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