Good Morning,
Happy Friday….
And Happy April Fools Day….
Yes, if someone tells you a “fib” this morning, you will know why…
Last night we presented at the tech event in Sydney and the response was extremely positive…
Over 90 people and 5 ASX listed CEOs attended and overall it was a great evening.
Our friends at Boardroom recorded the event, so we are looking forward to sending it through to you.
So what happened last night?
US Stocks closed 30 points lower, leading into tonight’s all important payroll figures….
The lack of direction, means that our market will open around 20 points lower this morning….
In Hong Kong, Retail sales were the lowest in over 17 years…. A figure to keep a close eye on and its implications to Chinese growth….
So will markets rally in April?
We don’t believe so………..
A lack of earnings growth and earnings certainty is what we need and only if the RBA can cut interest rates on Tuesday, this will be a key catalysts
What's on today
Overseas data: China official manufacturing PMI for March, Bank of Japan Tankan survey, US March payrolls, US ISM manufacturing for March, US Feb construction spending, US March auto sales, UK manufacturing PMI for March, UK March house prices.
The SPI is down 20 points this morning.
Niv
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
