Patrick Poke

Index fund pioneer and Vanguard founder, John Bogle, passes away at 89; JP Morgan CEO, Jamie Dimon, says US growth could be zero this quarter if shutdown continues; Nike announces rechargeable, self-lacing smart-shoes; and McDonald's loses 'Big Mac' trademark in Europe. Here's what's happening in markets today.

What I'm reading this morning

John Bogle passes away at 89

Few people have had a greater influence on investing over the past few decades than Vanguard founder, John Bogle. In addition to founding the world's second largest asset manager, Bogle was also a prolific author, having written the very popular Little Book of Common Sense Investing.

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Dimon: Government shutdown could wipe out growth

Jamie Dimon, CEO at JP Morgan Chase, reckons that the US Government shutdown, if it were to continue to the end of March, would reduce US economic growth to zero.

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Nike annnounces self-tying smart-shoes

Back To The Future fans rejoice, you will finally be able to get your self-tying shoes - and only a couple of years late. Don't expect them to come cheap though. Retail price in the US will be around $350. Once converted to AUD and Australia-tax is added, you'll be looking at over $500. The shoes should arrive here at the end of February.

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McDonalds loses trademark on 'Big Mac' in Europe

The EU Intellectual Property Office has ruled against McDonalds' ownership of the 'Big Mac' trademark, allowing Irish fastfood chain Supermacs to expand. The rules means other companies can now use the 'Big Mac' name in Europe, but McDonalds can continue using it too.

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M&A Season is open for gold miners

The merger of Newmont and Goldcorp to create the world's largest goldminer is indicative of a ramp-up in M&A activity in the sector.

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Stocks to watch

  • Keep an eye on mining and energy firms today, as many are releasing quarterly updates. The following companies (ASX code only) have released some form of quarterly, exploration, cashflow, or production update today: PDN, BSE, MEU, ARV, WSI, TKM, WHC, WPL, DOR, BGH, KAI, PM8, AME.
  • Kogan (KGN) reported a record Christmas trading period, resulting in revenue growth of 9.7% and active customer growth of 32.2% vs pcp.

Market data

  • ASX Futures: 5784 (-0.09%)
  • AUD/USD: 0.7170 (+0.03%)
  • ASX200: 5835.2 (+0.35%)
  • S&P 500: 2616.1 (+0.22%)
  • China A50: 10854.49 (+0.26%)
  • Australia 2-yr bond: 1.884 (+0.91%)
  • Australia 10-yr bond: 2.291 (+0.66%)
  • US 2-yr bond: 2.545 (+0.63%)
  • US 10-yr bond: 2.727 (+0.71%)
  • Gold (USD/oz): 1293.5 (+0.58%)
  • Copper (USD/lb): 2.671 (+1.39%)
  • Brent Oil (USD/bbl): 61.28 (-0.08%)
  • 62% Iron Ore (USD/t): 75.1 (+1.08%)

Upcoming releases and events

  • Australian home and investment lending data for November due this morning
  • EU CPI data for December due overnight
  • US data relases still delayed by US government shutdown.

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eric wells

Small Caps. You and me both Patrick. Looove Livewire. Cheers, Eric Wells

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