Good Morning,
The days are certainly getting longer and the sun is brighter….
Spring is finally here and the AFL & NRL finals series are here….
Yesterday, we caught up with CFOAM management for an update and things are going great.
On Thursday next week, we are catching up with another of Peak’s investments, Swift Networks (SW1),who are in Perth hosting an investor lunch… If you would like to attend, please let me know.
So what happened last night?
U.S. stocks held near record levels (Dow Jones -11 points) and the dollar gained as traders digested mixed data in the world’s largest economy amid bets interest rates will stay low.
The S&P 500 Index was little changed after rising to within three points of an all-time high and the dollar halted a two-day slide.
Crude climbed to a one-week high as investors parsed comments from OPEC and Russia for signs of whether oil producers will agree on measures to bolster the market.
“The economic data that’s come out in the past week or so has been underwhelming,” said Walter Todd, who oversees about $1.1 billion as chief investment officer for Greenwood Capital Associates LLC in South Carolina.
In Oz, aged-care stocks (REG, JHC, EHE) rebounded by 6%-10% and the gold sector got a boost from a weakening USD with SAR, up more than 12% in yesterdays’ trading session
But is this just a “dead-cat” bounce?
We don’t feel that the federal government will be able to pass these proposed changes in the senate…. So value is here….
Today, focus will be on AUS’s employment figures
The SPI is down 18 points this morning…
Niv Dagan is an Executive Director of Melbourne based boutique funds management and corporate advisory firm, Peak Asset Management (www.peakassetmanagement.com.au). He is also a regular financial commentator on Sky Business
By Niv Dagan
