The Good Morning Report

The latest market news, commentary and strategy by Adrian Rowney 

5 Things that Grabbed my Attention

1. Aussie savings rate hit a 15 year low....another RED FLAG.

2. Market definitely wasn't thrilled with Orora's (ORA) massive acquisition from a very crafty private equity seller. ORA closed 12% lower, at one stage it was down about 20% .....Private Equity firms are notorious for not leaving any value on the table for the next owner.  

3. Australian Agriculture (AAC) is being removed from the ASX 300 - this can explain some of the weakness in the share price as some fund managers are mandated to sell.....BUY last sale $1.31

4. Alan Joyce is set to pocket a cool $24 million exit fee for his troubles @ QANTAS.....Sort of reminds of the time when another foreigner, Sol Trujillo collected $11 million when he quit as Telstra CEO....Both leaders rubbed Aussies up the wrong the way and got stinking rich doing it. Just like with Sol, I doubt the welcome mat will be out for Alan in the future.  

5.  The BMW CEO is warning that they are going to struggle to compete against Chinese EVs which are 25% cheaper....Where ever you look - China is the massive winner as the WEST attempts to electrify everything.

ASX Market Update

ASX 200 down 57 points to 7257

According to the official stats, Australia is now in a per-capita recession which means that while the economy is growing, individuals are actually going backwards....Anyone that doesn't live in bubble fantasy land should probably have worked out that plenty of people are feeling the squeeze....Record immigration certainly helping our economy, but that is also adding to inflation particularly when it comes to housing....All and all, it is definitely not the time to be loading up on consumer discretionary stocks.

Random Observation

LOL!!....Many of the stocks going into this ETF have already been belted (Disney down 60% from high), so it could be a bit dangerous investing in it right now. However I do like the concept.


The Day Ahead

  • Our SPI is down 40 points
  • Bitcoin down 0.1% to $25,698

Movements affecting our resource stocks today (USD)

  • BHP in the US down 0.3%
  • Newmont FLAT
  • Gold down down 0.55% to $1941
  • Paper Silver down 1.75% to $23.45
  • Platinum down 1.8% to $916
  • Copper down 1.59% to $3.76
  • Brent Crude up 0.78% to $90.75
  • Iron ore up 1.1% to $116.25

Asian Market Update

China up 0.12%, Hong Kong FLAT, Japan added 0.62%

Looks like Xi Man has given the orders to properly PUMP the Chinese property market...

I believe this is what policy officials are going to remove/ease up on....

Global Market Update

US Market

DOW down 198 points to 34,443

US stocks fell for the third session in a row on fears that the FED will increase rates again. Apple dropped 3.58% and Tesla lost 1.78%

European Markets

Germans down 0.19%, Brits off 0.16% and Frenchies fell 0.84%

EU cutting deals to buy uber expensive GAS that will be shipped from the USA, while Xi Man gets this for his people....

Key Market Summary

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