Market Update
US equity markets were mixed on Friday night, the S&P was flat, with the Dow up 64 points, the biggest contributor was Proctor & Gamble which rose 9% on surprisingly strong sales. 84 of the S&P have reported earnings with positive earnings surprises running at 86%; The fallout from the death of journalist Khashoggi continued with the Saudi`s arresting 18 people, while Turkey has promised to give full details of their investigation on Tuesday. The US Government was wary of the blame game with Treasury Secretary emphasising the importance of US economic ties to Saudi, though his own Republicans urge Trump, ‘not to look the other way’; Australia under pressure as Scott Morrison seems likely to have a minority Government as polls suggested the Liberals would lose a Sydney by-election at Wentworth, though the final count may take a few days; Copper futures in New York declined for a fourth straight session, the longest slump in more than six weeks, as energy prices dropped on the outlook for greater supply of the fuel.
Please read Argonaut's Important Disclaimers & disclosures
Log in to the client area below to download the full Morning Note PDF
