Good Morning,
Trust that you had a nice weekend and are getting set for another busy week ahead.
84 people killed in Nice…. Over 200 in Turkey over a military coup…
The Lira fell the most in 8 years, transportation stocks fell and the Turkish index futures plummeted … down 7% in after-hours trading…
We really live in a crazy world, right?
The events over the past 72 hours, certainly put everything we do into context…
In the US, Dow futures fell in Friday's late session, as the news began to flow.
In regular trading, the blue-chips index extended its winning streak to six days.
Interestingly, the US market looks like it has broken through previous resistance and is going to move higher over coming weeks….
In Oz, as we warm up to reporting season, Resmed (RMD) report their earnings this week and all focus over the next few weeks will be on Quarterly figures and Annual reports
· Should we expect strong margin expansion?
· Should we expect earnings (EPS) upgrades? Or;
· Should we expect a focus on cost reduction and cash preservation?
We think the latter will be the main focus, however, given that analyst expectations are at the low-end, we certainly believe that the XJO could potentially break upwards……..
So look out….
It may be time we finally start to outperform our US and European friends…
SPI futures is down 17 points this morning
