Car wrecks, motor shows & some markets driving in the red
Published 18-JAN-2019 10:30 A.M.
2 minute read
Hey! Looks like you have stumbled on the section of our website where we have archived articles from our old business model.
In 2019 the original founding team returned to run Next Investors, we changed our business model to only write about stocks we carefully research and are invested in for the long term.
The below articles were written under our previous business model. We have kept these articles online here for your reference.
Our new mission is to build a high performing ASX micro cap investment portfolio and share our research, analysis and investment strategy with our readers.
Click Here to View Latest Articles
Yesterday, I received a text from the United Australia Party, telling me that if elected, it would ban unsolicited texts.
Meanwhile, the American reporting season continues, and last night we heard from Morgan Stanley, which reported a quarterly pre-tax operating profit of US$1.9 billion, down 25% on the previous corresponding period.
The result was negatively impacted by weaker bond trading revenue and slippage in its wealth management business. The company embarked on this latter item to steady revenue and earnings. The company’s shares fell around 5% on the result.
The car industry has several important shows each year, the most prominent being the Geneva, London and Detroit shows. These give car companies the chance to show off their concept cars, as well as debut new models.
The Detroit Motor show, which is running now, will be moved to a warmer month, June, because cold weather is keeping the crowds away. I guess the Americans are still catching up with central heating.
The American government shutdown continues into its 27th day and Donald Trump — not a shy, retiring person — has decided it should affect some politicians directly. He stepped in and cancelled House Speaker Nancy Pelosi’s trip to Brussels. A nice ball back over the net as Pelosi called on him to put off the State of the Union address. 15-all!
I read on the wires this morning that the Duke of Edinburgh has been involved in a car accident — he was driving on the A149 near Sandringham. The Duke’s Land Rover hit a Kia and rolled. Happily, no-one was hurt. One wonders if, at 97, the Duke might have to sit a driving test each year before being allowed to venture onto the Queen’s highways.
Markets across Asia and Europe all closed in the red yesterday, and in the US, the three major indices have all managed to close in the black. The S&P500 and Nasdaq are up by 0.7%. Bond yields have crept higher across the curve, the 10 year treasury is at 2.75% from 2.71% this time yesterday. The Australian dollar is higher at US$0.7193 and index futures are showing a 33 point gain.
tagsNASDAQ STOCK MARKET
General Information Only
S3 Consortium Pty Ltd (S3, ‘we’, ‘us’, ‘our’) (CAR No. 433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information and is for informational purposes only. Any advice is general advice only. Any advice contained in this article does not constitute personal advice and S3 has not taken into consideration your personal objectives, financial situation or needs. Please seek your own independent professional advice before making any financial investment decision. Those persons acting upon information contained in this article do so entirely at their own risk.
Conflicts of Interest Notice
S3 and its associated entities may hold investments in companies featured in its articles, including through being paid in the securities of the companies we provide commentary on. We disclose the securities held in relation to a particular company that we provide commentary on. Refer to our Disclosure Policy for information on our self-imposed trading blackouts, hold conditions and de-risking (sell conditions) which seek to mitigate against any potential conflicts of interest.
Publication Notice and Disclaimer
The information contained in this article is current as at the publication date. At the time of publishing, the information contained in this article is based on sources which are available in the public domain that we consider to be reliable, and our own analysis of those sources. The views of the author may not reflect the views of the AFSL holder. Any decision by you to purchase securities in the companies featured in this article should be done so after you have sought your own independent professional advice regarding this information and made your own inquiries as to the validity of any information in this article.
Any forward-looking statements contained in this article are not guarantees or predictions of future performance, and involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, and which may cause actual results or performance of companies featured to differ materially from those expressed in the statements contained in this article. S3 cannot and does not give any assurance that the results or performance expressed or implied by any forward-looking statements contained in this article will actually occur and readers are cautioned not to put undue reliance on forward-looking statements.
This article may include references to our past investing performance. Past performance is not a reliable indicator of our future investing performance.