Patrick Poke

Elon Musk could go drilling in the Blue Mountains with his Boring Company; a group of Hong Kong stocks geting demolished in late trade; Scott Galloway makes predictions about 2019; and Ukranian hackers use inside information to trade... poorly. Here's what's happening in markets today. 

What I'm reading this morning

A very Boring proposition

Elon Musk said on Twitter yesterday that he'd drill a tunnel through the Blue Mountains for $750M. 

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Scott Galloway's predictions for 2019

Professor Scott Galloway, the Professor of Marketing at NYU who shot to fame in 2017 with his book The Four: The Hidden DNA of Amazon, Apple, Facebook, and Google, recently released his predictions for the year ahead. 

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Group of stocks in Hong Kong falls 75%+

Three Hong Kong listed companies fell over 75 percent, and another 10 fell 20 percent or more in a few minutes in late trade yesterday. Hao Hong, chief strategist with Bocom International Holdings said “It’s likely more similar stock crashes could happen this year."

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A not-so-sure thing

The Ukranian hackers who broke into the SEC's database and stole company results before they were released still lost money on nearly one in four trades. 

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Stocks to watch

  • Afterpay Touch Group (APT) provided a business update this morning. Growth in underlying sales was up 240% on pcp, while late fees as a percentage of total income declined. 
  • Sydney Airport (SYD) total traffic and domestic traffic fell in December 2018 vs pcp, though international traffic still manged a 3.7% gain. Total traffic for the YTD was up 2.5%. 
  • Rio Tinto (RIO) released Q4 production results. 

Market data

  • ASX Futures: 5814.5 (-0.1%)
  • AUD/USD: 0.7188 (-0.07%)
  • ASX200: 5850.1 (+0.26%)
  • S&P 500: 2,635.96 (+0.76%)
  • China A50: 10,802.58 (-0.48%)
  • Australia 2-yr bond: 1.887 (+0.96%)
  • Australia 10-yr bond: 2.315 (+1.31%)
  • US 2-yr bond: 2.570 (+0.90%)
  • US 10-yr bond: 2.750 (+0.78%)
  • Gold (USD/oz): 1,291.90 (+0.02%)
  • Copper (USD/lb): 2.697 (0.00%)
  • Brent Oil (USD/bbl): 61.16 (-0.02%)
  • 62% Iron Ore (USD/t): 75.1 (0.00%)

Upcoming releases and events

  • HIA New Home Sales are due this morning at 11:30am
  • Chinese GDP, Industrial Production, and Retail Sales are all due on Monday at 1pm
  • The World Economic Forum starts next week at Davos in Switzerland. 


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