What's happening in markets this morning?
The Future Fund ups their risk levels; China's economy is slowing on the back of weakness in both industry and consumer; and Jeff Gundlach gets spooked off Twitter. Here's what's happening in markets today.
What I'm reading this morning
Future Fund "slightly" increases risk levels
Future Fund Chief Investment Officer, Raphael Arndt, offered some insights into the portfolio construction process of the $175 billion Future Fund.
A crisis of confidence in China
The situation in China appears to be worsening, as industry and the consumer slow down simultaneously, while stimulus measures have failed to have a significant impact.
Jeff Gundlach deletes Twitter
Double-Line Capital founder, Jeff Gundlach, left a myeterious final Tweet on his profile before deleting it altogether this weekend.
XKCD: The basics of technical analysis
Purveyors of math, science, and general nerd humour, XKCD, recently penned a comic about technical analysis.
Stocks to watch
- Wagners Holding Company (WGN) listed on the ASX in late 2017, but it's been a tough ride more recently. The company announced a Trading Update this morning, which is a massive downgrade to previous guidance. New guidance is 32.6% below the guidance provided on 1 November 2018.
- BHP (BHP) released their half yearly operational review this morning.
Key market data
- ASX Futures: 5,826.5 (-0.38%)
- AUD/USD: 0.7156 (-0.04%)
- ASX200: 5,890.4 (+0.18%)
- S&P 500: Closed yesterday for Martin Luther King's birthday
- China A50: 11,094.28 (+0.58%)
- Australia 2-yr bond: 1.902 (unchanged)
- Australia 10-yr bond: 2.311 (-0.04%)
- US 2-yr bond: Closed yesterday for Martin Luther King's birthday
- US 10-yr bond: Closed yesterday for Martin Luther King's birthday
- Gold (USD/oz): 1279.6 (-0.23%)
- Copper (USD/lb): 2.676 (-1.37%)
- Brent Oil (USD/bbl): 62.81 (+0.18%)
- 62% Iron Ore (USD/t): 76.1 (unchanged)
Upcoming releases and events
- The World Economic Forum in Davos starts overnight, however, it'll be missing both the USA and UK this year
- New Zealand CPI on Wednesday morning Sydney time
- Australian unemployment figures released on Thursday morning
- Westpac's Leading Index for December is released Thursday morning.
2 stocks mentioned
Patrick was one of Livewire’s first employees, joining in 2015 after nearly a decade working in insurance, superannuation, and retail banking. He is passionate about investing, with a particular interest in Australian small-caps.
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