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.
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."
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.
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.
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.
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