Marcus Today End Of Day Report
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- ASX 200 down -60 to 5902 after US advisor Cohn resigns.
- High 5957 Low 5895.
- Trade war is on? Tremors in PNG.
- GDP figure disappoints on weather issues.
- Broad based losses as US futures hit.
- Plenty of ex-divs, with BHP amongst them.
- AUD volatile on US news and GDP at 78.03c
- Bitcoin slips slightly to US$10,740.
- US futures crashes -332 on Cohn.
- Asian markets steady on trade wars fears with Japan -0.68% and China CSI up 0.11%.
FUTURES AND HIGHS AND LOWS
- MARCUS CALL – Economic adviser to the White House, Gary Cohn has resigned and the Dow Futures are down 351 this morning. Making matters worse is the tariff fiasco, which rolls on tweet after tweet.
- SMALL STOCK PORTFOLIO – Henry has taken a small holding in a biotech stock and watching for an entry point into a telco.
- INSIDERS – “Tom and Jerry” invites us to follow uranium stock, Paladin. Many thanks.
- INSIDERS CONNECT WITH US - We invite you to send us your own stock ideas. We also have the facility for you to email us any questions. Click on the "Ask Marcus Today" button in the newsletter or below - Ask us anything:
BEGINNERS COURSE IN MELBOURNE THIS FRIDAY - BOOK NOW
We are holding a Beginners Education Course this Friday 9th March in Melbourne called "An Introduction to Finance and the Stock Market with Marcus Padley". We have increased the numbers from 30 to 60 to meet demand and have sold 40 - plenty of room for more. If you want to come along please click the link below. It costs $199 and for that you get:
- An entertaining three and a half hour financial education ($199)
- Lunch ($30)
- Time with Marcus (Priceless)
- A one year AIA Membership ($135)
- A one month subscription to the Marcus Today Newsletter ($75)
- Marcus's Book ($39.95)
Total value $478.95.
The AIA has endorsed the course. There is no lower age limit and the day is apprpopriate for anyone looking to learn stuff I wish I had learnt in my early days. It addresses a host of issues including some financial basics, Life and Money, Rich Dad Poor Dad, how people get rich, your Super and how to get started in the Stock Market.
It will be held in Melbourne in the RACV Club Level 2 from 8:30am this Friday for a 9:00am start. It finishes at 12:30pm with light lunch until 1:30pm. Then closes.
If you can't make it...send your friends, spouse, kids!
Check out all of the Education Event dates & more details including Active Investor Seminars as well here!
Advancers and Decliners
- CBA +0.73% broker upgrade.
- RFG +5.26% light or a train at the end of tunnel.
- MSB +4.95% US$75m non-dilutive credit facility.
- LYC +1.70% looking a little toppy.
- HLO +3.01% change of director’s interest.
- MND -6.81% ex div and broker downgrade.
- RSG +3.40% gold producers doing well.
- MLX +2.41% better copper prices.
- PTM -4.51% continuing concerns on succession.
- NCM +1.80% defensive buying of bullion.
- WHA +4.48% bouncing back.
- STO -2.57% monthly drilling report.
- VOC -3.33% enthusiasm waning.
- Speculative stock of the day: Patrys (PAB) +14.58% kicks again after very promising PAT – DX1 results in reducing brain tumour size.
- Biggest risers – BWX, MSB, AMA, YAL and RSG.
- Biggest fallers – MND, NWH, KGN, EHE and PTM.
- Australian 4Q GDP grew by 0.4% QoQ, consensus was for 0.5% growth. 4Q GDP was up 2.4% YoY, vs consensus of +2.5%. Aussie dollar little-changed following GDP data, near US77.80c.
- Weakness in exports, mostly weather-related and a rise in import volumes, took away some of the improvement from stronger consumer spending, which was lifted by demand for Apple iPhone X and pre-Christmas sales. Government spending was a solid contributor with state and federal governments both endorsing large infrastructure projects.
- RBA Governor Philip Lowe says businesses, investors and workers should feel confident inflation will accelerate in Australia in coming years, particularly as an investment boom gathers strength, but again warned it was still too soon to consider official interest rate hikes.
BOND MARKET UPDATE
ALL ORDS SECTOR SUMMARY
ALL ORDS TOP MOVERS
ALL ORDS BOTTOM MOVERS
ASX 200 SECTOR SUMMARY
ASX 200 TOP MOVERS
ASX 200 BOTTOM MOVERS
ASIAN MARKETS NEWS
- Nothing significant today.
EUROPE AND US MORNING HEADLINES
- The Trump administration is considering clamping down on Chinese investments in the US and imposing tariffs on a broad range of its imports to punish Beijing for its alleged theft of intellectual property.
- Porn queen, Stormy Daniels, is suing Trump over a non-disclosure agreement.
- NAFTA is becoming that bit harder without the Cohn team.
- UK accuses Russia of a poisoning attempt, threatens to stop Prince William from going to World Cup. Putin quakes.
- A last-minute agreement to sell The Weinstein Company to an investor group backed by two billionaires has collapsed after the buyers learned of previously undisclosed liabilities at the troubled film and television studio.
Henry Jennings has been involved in financial markets for over 35 years as both a trader and a broker in London and Sydney.
Starting his career in London trading derivatives and moving to Australia in 1989, Henry eventually settled at Macquarie Group, rising to become a Divisional Director responsible for Equity Trading in Australia. For the last decade, Henry has been involved in private client broking and now writes exclusively for the renowned financial newsletter Marcus Today. Henry regularly appears on ABC TV and Sky Business as a market analyst, commentator and strategist and has presented at various conferences most recently for the AIA on the Gold Coast.
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