MARCUS MORNING - Wednesday, 27 August

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• SPI Futures up 47 – follows a 37 point drop yesterday.
• NASDAQ +0.44%. S&P 500 index +0.41%. Dow Jones up 135. Small caps 2000 up 0.83% (small caps are having a bit of a resurrection since Powell’s Jackson Hole address).
• Nvidia tomorrow 6:20am – Need to be great to be good, good to be OK and OK is not enough. Revenue expected to be up 53% - the biggest stock in the world and revenue is up 53% - no wonder the PE is 61x (falling to 41x). Brokers have been upgrading target prices into the results. 
• Lisa Cook being sacked by Trump – threatens Fed independence they say – but the market goes up because it suggests rates are coming down.
• Australian CPI numbers today – look for +2.3%. Not sure it's going to help rate cut hopes. It's risen. Electricity dominates the headline.
• Results today (last three days of results) – WOW, WOR, DRO, SIG, CCV, EBO, MEZ, NEU, WTC, FLT, ADH, DMP, TAH, LOV.
• Telstra ex-dividend today 9.5c. Also Ex – TWE, OML, BFG, TLC, GQG, AX1.
• Ex-dividend tomorrow – BPT, BOL, REA, IPH, WDS, DBI, VNT.                                                                     
• CSL and Reece – Struggling with the same issue - Victoria – The WFH State – there’s a bit of a theme developing.
• Marcus on AUSBIZ today – video link to come.
• Market Monthly – Webinar tomorrow. An update on market and portfolio thoughts. 700 Members booked in.

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• Summertime and the livin' is easy!
• An eerie calm in markets. Is it warranted? Nope!
• DRO Results out. WTC Results. Looks like a miss.
• What insights did Eugene give?
• DTR is up 3000% this year! Dreams come true.
• Jackson Hole Insights from someone in the room where it nearly happened!
• How trivia nights have changed!
• Destination: Birdsville Races.

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Wall Street recorded a positive session, boosted by Nvidia and Eli Lilly, despite concerns surrounding Fed independence as Trump fired governor Cook. Trump’s decision comes on the back of allegations made by Bill Pulte, a Trump ally, of the federal housing finance agency, that Cook falsified records to receive favourable mortgage terms. Markets seemed to shrug the news off. S&P 500 up 0.41%, Nasdaq rose 0.44%. Dow rose steadily throughout the day. Closed near high, gained 136 points. Most sectors up. Energy and REITs the exceptions, as the former followed oil down. Industrials, Financials and Healthcare, the main leaders, recording gains of between 0.7%-0.9%.

ASX to rise. SPI futures up 47 points (+0.53%).

In corporate news, Nvidia rose 1.1% ahead of its earnings tomorrow. Eli Lilly jumped 5.9% after revealing its experimental pill cut body weight by 10.5% in type 2 diabetes patients. Advanced Micro Devices gained 2.0% on a Truist upgrade to “buy.” EchoStar rocketed 70.3% to a record after striking a $23Bn wireless spectrum deal with AT&T which fell 0.6% on the news.

Resources primarily up. Oil fell from a three-week high as traders became jitterish about the impact of US tariffs and the lack of recent developments in the Russia-Ukraine war. Copper, nickel and aluminium all recorded gains.

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