The latest market news, commentary and strategy by Adrian Rowney
5 Things that Grabbed my Attention
1. Trump and Harris are pretty much neck and neck in the betting odds to win the election in November….Our portfolios will do better under a Harris regime as she is an agent of chaos who will happily facilitate an obscenely corrupt congress; unlimited government spending, skyrocketing debt, war, inflation, social unrest, open borders, money printing, unemployment, poverty etc. Her 4 years will be absolutely insane!
2. The next round of FEDERAL RESERVE money printing (not a matter of if but when) will be massively bullish for our investments in GOLD and SILVER.…Who cares what happens in the coming months – the big prize awaits!
3. NZ unemployment rate kicked up to 4.6% from 4.3% previous – seeing it trend higher is not good for our Cuzzy Bros.
4. AirBnb shares tanked 14% after warning that demand is set to soften in America.
5. Mining giant Glencore has completely abandoned plans to spin off it’s portfolio of COAL mines…..YAL, WHC, CRN & NHC are set for a major rerating higher once the market works out that COAL is far better economically and environmentally than renewables will ever be. The world needs this critically important and reliable energy source more than ever.
ASX Market Update
ASX 200 up 19 points to 7699
Beaten up LITHIUM miners had a little run on news that Arcadium Lithium (LTM) is going to suspend two of it’s four development projects and may also close it’s Mt Cattlin mine in WA . Traders are hoping that this indicates the bottom of the market – time will tell….. LTM shares rallied 7.48%, PLS put on 6.4% and IGO added 4.8%
Random Observation
I’ve been warning about these “Private Credit Funds” for a while now – huge blowups are coming….AVOID them at all costs. Chasing high income investments is super dangerous at this stage of the cycle.
Private Credit Funds lend money to business and people that big banks don’t want to touch; basically loan sharking.
The Day Ahead
- ASX futures are down 18 points
- Bitcoin down 3% to $55,002
- BHP in US down 1.1%
- Newmont in US down 2%
- URNM in the US was FLAT
Movements affecting our resource stocks today (USD)
- Gold down 0.18% to $2427
- Paper Silver down 1.57% to $26.79
- Platinum up 0.23% to $922
- Palladium up 1.17% to $870
- Copper down 2.19% to $3.93
- Brent Crude up 2.43% to $78.35
- Iron ore down 1.4% to $101.05
Asian Market Update
Japan up 1.19%, China FLAT and Hong Kong added 1.38%
The YEN sold off and Japanese stocks rallied as the Bank of Japan said it won’t ever consider hiking interest rates again while markets are volatile….A weaker YEN helps Japan’s giant exporters, such as Toyota and Sony, that earn revenue in USD and other foreign currencies which is why the Nikkei went up.
I predict the YEN is going to get absolutely flogged again as the BOJ has no plans on raising interest rates.
Global Market Update
US Market
DOW down 234 points to 38,763
When I say Kamala Harris is an agent of CHAOS I mean it….Fact check this till the cows come home:
Our portfolios will be fine under Trump as he is not going to stop the surging national debt and money printing, but if Harris wins, i think we should get some turbo charged gains during her term.
European Markets
Germans up 1.5%, Brits up 1.75% and Frenchies up 1.9%
European banks rallied overnight despite the Bank of England warning of no bailouts in a crisis…..Try to make sense of that!!! hahaaha
Key Market Summary
