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Morning sports fans,
I was in the pub last night I heard a couple of blokes saying that they wouldn’t feel safe on an aircraft if they knew the pilot was a woman. What a pair of sexists. I mean, it’s not as if she’d have to reverse the bloody thing!
A few red faces around last night at ANZ as they had to go into a trading halt after releasing an Excel spreadsheet on Friday that contained sensitive information about the upcoming results…doh!!
Anyway last night the Dow closed pretty much unchanged after some volatility again…only 100 point trading range despite some weaker housing numbers and some rubbish numbers again from Germany…good to see the French are back in the lying game with some promises about their debt levels..bless…
Yet another strong day yesterday as the banks and the yield stocks drive the market higher…for what it’s worth I reckon we are near the short term top and profits should be looked at …it has run hard and fast from a low around 5150 and you know what our economy is not going that great…except if you are a real estate agent that is…their holidays in January will be epic…loads of houses round our way now flying off the books..sold stickers with agent’s chessy grins everywhere..children should be shielded from this horror!
It is still all about the banks and the numbers later this week…it’s the yield stupid!!
Idea of the Day
Good to see MOC hit 270 yesterday having talked about them ad infinitum..yes I know but at least some listened, so they are happy..
Now I just need LYC to go up to vindicate me…our analyst has just reaffirmed his price target..we won’t get too hung up on his flight of fancy target but following a company update he is still positive..so am I …entitlement issue has been done and dusted…an inspection from AELB on their Malaysian plant is in and it’s all good and management is getting on top of things…at these prices it is a punt…a big punt but ‘tis that season!!!!
Things to make me go mmmmm!!!
Fed QEIII ends on October 29th!!!End of an Era….for now!!!FOMC meeting to celebrate!!
Goldman Sachs has slashed its oil price forecast for both Brent Crude and West Texas Intermediate early next year to $80 a barrel and $70 a barrel respectively.
CSL is set to become the No 2 player in the $US4 billion ($4.54bn) global influenza vaccine industry following its acquisition of Novartis’s influenza vaccine business, which has a number of new products close to commercialisation.
Seems that the markets weren’t happy that incumbent Rousseff won the Brazilian election with the market plunging as much as 6% before a rally ensured it only closed down 2.8%…the Real thing also lost 1.9% to close at 9 year lows.
Oil being downgraded…Iron Ore under $80 again and still the majors dig and ship record amounts…may go even lower especially now China is making noises about 7.2% growth going forward…
Twitter got spanked on its numbers last night ..down 8%…seems the growth isn’t quite as Hockey Stick as everyone had hoped!!!
Myer has revealed a radical new growth strategy…it has ditched the MyStore tag line…ground breaking stuff Bernie!!!
Economic data showed the US prelim services sector in October was 57.3 against estimates at 58 and housing data was close to flat. Pending home sales in September rose 0.3% in October after falling 1.0% in September.
“Whatever it takes!!!!”The ECB announced that it bought 1.7 billion euros of covered bonds last week, in a result that was a little larger than estimated.Contrary to some expectations there were no purchases of corporate bonds and that option did not get a mention in last night report from the ECB.
German business confidence dropped for a sixth month The Ifo institute’s business climate index, based on a survey of 7,000 executives, dropped to 103.2 in October from 104.7 in September. That’s the lowest since December 2012.
Oh how times have changed….50 years ago, the largest employer in the US was General Motors, where workers earned an equivalent of $50 per hour (in today’s money). Today, the largest employer — Wal-Mart — pays around $8 per hour.And talking of Walmart!!!!
They have taken down a site advertising Fat Girl Costumes for Halloweeen!!!!!!
Rumours in London that a mystery buyer has gobbled up 90% of the LME stockpiles..ah so 80’s and Buker Hunt…
Things are getting interesting in WA as the Premier Colin Barnett is slagging off BHP and RIO for record production and keeping the price low…his budget will be in tatters with an estimated $1.7bn shortfall at currenmt iron ore prices….no wonder he wants more GST !!
It’s not called quarantine any more but “controlled monitoring!”
A man and his wife were getting a divorce at a local court in Greece; but the custody of their children posed a problem.
The mother jumped to her feet and protested to the judge that since she had brought the children into this world, she should retain custody of them.
The man also wanted custody of his children, so the judge asked for his side of the story.
After a long moment of silence, the man rose from his chair and replied:
“Your Honour, when I put a coin into a vending machine, and a Coke comes out, does the Coke belong to me or to the machine?”
DON’T LAUGH…… HE WON!!
If anyone is interested in coming to the big kahuna’s disruptive tech lunch on Thursday I have some limited spots available…three interesting companies presenting again!!
Have a great Tuesday
(8 days to go before the diet starts…!!)