Last night NVIDIA reported and sold off as the market was disappointed with the Q3 forecasts. As the bellwether stock for the AI sector, it will be difficult to have an AI boom if NVIDIA is not taking part. Today we dig into the result and look at what is being extrapolated. Can’t make it
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This is what is ahead for iron miners. ALL OF THEM. Mineral Resources: “This was the biggest year of development in our history, culminating with the start-up of the transformational Onslow Iron project. “Onslow Iron achieved first ore on ship ahead of schedule in May, just 11 months after we broke ground at the Ken’s
For years, we have been fed the lie that international education is Australia’s fourth largest export, worth a fantastical $48 billion a year. Unbelievably, the lobby group for Australia’s universities—Universities Australia—is now trying to claim that international education is Australia’s second largest export, behind mining: “Curtailing growth in the $48 billion international education sector risks
Honestly, it’s like this country had a lobotomy in recent years. The Australian Energy Market Operator is out with its ten-year outlook for the National Electricity Network and the media is in full celebration because power reliability has risen. The only issue is that it has risen directly and exclusively because the energy transition is
Australian housing construction indicators continue to falter, jeopardising the Albanese government’s fantastical target of building 1.2 million homes over five years. Dwelling approvals, commencements, and completions are each tracking around decade lows, roughly one-third below the government’s target. On Wednesday, the Australian Bureau of Statistics (ABS) released data on the value of construction work done
The Marker Ear reports. Second lower high? NASDAQ continues losing momentum and risks putting in a big second lower high. NASDAQ is trading below the 50 day once again. 100 day is down at 19k. Source: Refinitiv King tech Tech remains king when it comes to sector flows, but is that a “reversal”? Source: JPM
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My initial reaction to Wednesday’s monthly CPI inflation indicator was lukewarm, noting that inflation remains sticky for services and non-tradeable items. However, analysis by Stephen Wu at CBA showed that “the disinflationary impulse continued to broaden”. In particular, “the number of items in the CPI basket with annual inflation below 2% continued to rise and
The share market bears are sniffing around the woods although the post close NVIDIA earnings surprise might re-embiggen risk spirits later tonight. Wall Street faltered again as bond markets again lead the risk charge, although it was net no change in yields for US Treasuries despite some big auctions recently. The USD initially firmed against
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SHFE and SGX futures flamed out yesterday: Mad Dalian faded overnight: Coking coal too: Scuttlebutt is strange: “The valuation of the ferrous market has recovered a bit thanks to the persistent price rally and futures prices of steel products and iron ore are slightly higher than their counterparts in the spot market,” said Cheng Peng,
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DXY bounced off support last night: AUD is hitting resistance: Noth Asia rolled: Oil is in trouble: Metals flamed out: Miners puked: This is not your grandfather’s EM rally: Junk is fine: The curve steepened: Stocks are toying with a nasty double top: NVDA passed the test but it still may not be enough: At
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