Patrick Poke

Elon Musk to build flying cars, Costa Group gets smashed - down 38%, and Trump claims success in negotiations with China. Here's what's happening in markets today.

Data

What I'm reading this morning

Flying cars or flying pigs?

Elon Musk told Twitter followers that the new Model S Roadster will fly like the Delorean from Back to the Future 3 (though presumably won't travel in time). He said it "will use SpaceX cold gas thruster system with ultra high pressure air in a composite over-wrapped pressure vessel in place of the 2 rear seats."

Link to Tweet

Falling rents to accompany falling house prices

Canberra is now the most expensive place in the country to rent a house, as Sydney rental prices drop for the first time in over a decade.

Link to article

Trump claims "tremendous success" with China talks

After the conclusion of trade talks between Presidents Xi Jinping and Donald Trump, Trump criticised Democrats and claimed success with negotiations. No details yet as to what that "success" actually looks like.

Link to article

11.1% of property resales at a loss

CoreLogic recent released their Pain & Gain Report for the September 2018 quarter. Nationally, the 11.1% of loss-making sales added up to a total $488.1 million, however, this was dwarfed by the $14.06 billion in profits over the same period.

Link to report

Stocks to watch

  • Costa Group (CGC) was down 38.8% yesterday on the back of a large profit downgrade.

  • iCar Asia (ICQ) announced Q4 results, with cash receipts up 36% and its Thailand division now cashflow and EBITDA positive in December.

Upcoming data releases

  • Australian retail sales - 11:30am
  • US Consumer Price Index (CPI) - Overnight

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