Car wrecks, motor shows & some markets driving in the red

By Alex Moffat. Published at Jan 18, 2019, in Market Wrap

Yesterday, I received a text from the United Australia Party, telling me that if elected, it would ban unsolicited texts.
The irony.

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.

S3 Consortium Pty Ltd (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 only. Any advice is general advice only. Neither your personal objectives, financial situation nor needs have been taken into consideration. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs, before acting on the advice.

Conflict of Interest Notice

S3 Consortium Pty Ltd does and seeks to do business with companies featured in its articles. As a result, investors should be aware that the Firm may have a conflict of interest that could affect the objectivity of this article. Investors should consider this article as only a single factor in making any investment decision. The publishers of this article also wish to disclose that they may hold this stock in their portfolios and that any decision to purchase this stock should be done so after the purchaser has made their own inquires as to the validity of any information in this article.

Publishers Notice

The information contained in this article is current at the finalised date. The information contained in this article is based on sources reasonably considered to be reliable by S3 Consortium Pty Ltd, and available in the public domain. No “insider information” is ever sourced, disclosed or used by S3 Consortium.

Australian ASX Small Cap stocks | Why Finfeed.com is Australia’s leading small cap publication

Founded seven years ago, Finfeed.com is Australia’s leading and longest standing website for investor and finance news, education and expert opinion.

Published by StocksDigital, Finfeed was created to report daily on the comings and goings of ASX listed stocks in the small cap market.

As the first digital publication dedicated specifically to this space, Finfeed soon became the most trusted publication in the market, quickly garnering over two million page views – a number that continues to rise.

Finfeed.com provides its readers with informative articles that tackle the latest in market moving #ASX small cap news, plus exclusive content you won’t find anywhere else. It is aimed at those with an interest in investing, market education, company performance, start-ups and much more.

Finfeed.com is the only media organisation operating under the strength of a Financial Services License and is backed by leading journalists and analysts all with brands of their own.

The website aims to inform, educate and entertain with content that drills down into the heart of financial matters.

Finfeed is a leading source of investor and market information, with everything investors need to know about how to invest written in a way that anyone can understand. 

Over the years, the website has expanded beyond exclusively reporting on small caps, to profile Australia’s leading ASX listed small, mid and large caps as well as some of the country’s most successful CEOs and business leaders to find out what makes them tick.

Every day you will find fresh content covering:

Fast Facts

Over 4,000 articles published

Over 2.3 Million Page Views and counting

Over 10,000 followers on social media

Subscriber list growing by 2% monthly

Thanks for subscribing!

X