Wealth Wednesday

Ranora Daily - Your daily source for reliable market analysis and news.

June 07, 2023

Market Data

Local

Global

*Data as of 6pm WAT

Market News

Local

Global

Weekly Investment Watchlist

Market Commentary

Asia and Australia

  • China's trade surplus shrinks as exports see a bigger-than-expected drop. Exports fell 7.5% y/y in dollar terms, compared to a consensus drop of 1.8%, and follows an 8.5% growth in the prior month. Imports shrank 4.5%, versus the consensus of an 8% drop and the surprising 7.9% drop in the previous month.

  • Australia GDP posts weakest growth since 2021 Covid lockdown. Q1 GDP expanded 0.2% q/q, compared to the consensus of 0.3%, and follows the revised 0.6% in the previous quarter.

  • S&P ratings say China's property liquidation risk is heightened by the delisting threat

  • US VC giant Sequoia to split off China business

Europe, Middle East, Africa

  • German Industrial Production for April missed expectations at 0.3% m/m vs 0.6% expected

  • UK Halifax house price data shows a flat reading in May, but on an annual basis prices fell 1%

  • ECB April Consumer Expectations Survey suggested inflation over the next 12 months seen at 4.1% vs 5.0% prior.

The Americas

  • Bulls in the Investor's Intelligence report pushed up to 51.3% in the week-ended 6-Jun from 47.9% in the prior week, above the 50.7% mid-April peak and the highest since the "danger level" reading of 57.2% in November 2021.

The Week Ahead:

  • Monday: US May ISM Services index comes in at 50.3; est 51.8.

  • Tuesday: IBD/TIPP economic optimism, API crude oil stock change

  • Wednesday: US trade deficit, EIA stocks change, consumer credit change

  • Thursday: Initial jobless claims, wholesale inventories

  • Friday: WASDE report

Investment Tip of The Day

Research company fundamentals. When investing in individual stocks, take the time to research and analyze the fundamental aspects of the companies you're interested in. Consider factors such as revenue growth, earnings potential, competitive advantages, and management quality.

Meme of the Day

Disclaimer: The information contained in this report is intended for informational purposes only and should not be considered as investment advice. The information is obtained from sources believed to be reliable, but accuracy and completeness cannot be guaranteed.