It was another positive day in the US overnight as both S&P 500 and Nasdaq rose by 1.47% and 1.95% respectively.
These increases are in the face of Trump’s continuous push of tariffs and show the US market is bigger than any one administration.
- S&P 500 = +1.47%
- Nasdaq = +1.95%
- Aussie dollar down 0.1% to 64.69 US cents
- Iron up 1.2% to $101.20 US a tonne
Trump vs India
Trump is increasing tariff’s again on India over its Russian oil purchases. India failed to reach an agreement with the US and Trump has now threatened to increase tariffs “substantially”.
India’s economy is fairly resilient though, as it is quite an internally driven economy. The noise of these tariffs could create a buying opportunity for those looking at the Indian market. The Indian market has been quite a dynamic market and been a leader in the emerging market space. One drawback from the Indian market has been the lofty valuations, this could provide an easing there.
I had recently been quite intrigued by the Indian market and sat down with Mugunthan Siva from India Avenue. The interview is out this week. For Core subscribers here’s a full preview.
Would you focus for $44 billion?
Would $44 billion make you focus on your job? I’d say most of us would settle for a lazy $1 million. Tesla is hoping it is enough for Elon Musk.
The board are hoping this remuneration package will be enough to capture Elon’s full attention and prioritise his work at Tesla over his other competing endeavours, including a possible political tilt. This comes at a tipping point in Tesla’s life with robo-taxis and Tesla’s advancements in AI robots.
Endeavour investors call for a break up
Embattled liquor retailer and pub operator, Endeavour Group is left without leadership as it awaits its new CEO, Jayne Hrdlicka.
Analysts have been left frustrated with investors asking “who’s running the show” after the immediate departure of chairman, Ari Mervis.
Hrdlicka, most recently from Virgin fame, is incoming but not fast enough.
A lot of analysts are hoping for a breakup of the liquor retail outlets – think Dan Murphy’s and BWS – from the hotels division. The hotels division is made up of pubs around the country and is seen to be far less profitable and being kept up by the pokies in these venues.
You have to think it is on the cards for Hrdlicka and her team when she gets in the seat. Something to keep an eye on as it would unlock a lot of value.
