Terrence Cummins International Business Coaching & Consultancy

The right to disconnect was moved through the Senate on Thursday after months of pushback from crossbenchers. Under the law, workers will obtain the legal right to ignore phone calls and emails made by their employers out of working hours, with the company able to be penalised if contact is deemed "unreasonable" and initiated on unpaid time.
The new law has received mixed reactions from industry and employees.
Meanwhile, Tuesday, 13 February 2024, the ASX reduced 11 points to finish at 7603. Today, the index fell on CSL's lower-than-expected profit outlook. Additionally, Macquarie said profits would be lower in FY24 than in FY23 (as analysts had expected). Other profit results today were mixed, with retailers doing better than expected. Overseas markets are flying, with Japan up nearly 3% and above 38,000 for the first time since 1990.
US markets hit new ALL-TIME INTRA HIGHS (ATH) again today but couldn't hold them to the close. The Dow Jones reached 38927 before closing at 38797. The S&P 500 hit 5048 before closing at 5022.

Friday, 9 February 2024, the ASX gained 6 points to finish at 7645.

After a couple of rough days on the ASX, profit season started with reasonable results, which calmed some market expectations, but it's only early. The US S&P500 has hit a new ALL TIME HIGH (ATH) of 5026.5 as the momentum continues in the US for the 5th week. An updated reading of US inflation came in slightly better than expected, which provided a boost on Friday.
IMPORTANT ANNOUNCEMENT:
Over the past 6 years we have become increasingly involved in the scuba diving recreational industry and associated tourism, especially tourism in the Great Barrier Reef Marine Park. Consequently, we intend to now make that our major focus. While we may from time to time post economic observations to our page we no longer see that as our primary focus. Therefore, over time we will be winding down this Facebook site and announcing where else you can find us.
We want to thank the over 600 followers we have had over the past 10 years and wish you all the best for the future.

No change in interest rates as price pressures ebb Mortgage holders have been granted another month of interest rate relief after the Reserve Bank of Australia left monetary policy unchanged, as expected.

From our CEO: Scuba Diving Industry Magazine
I am pleased to announce that I have joined the ‘Scuba Diving Industry Magazine’ team as the contributor of content for Australia and Oceania region – ‘Across the Globe’. The very first edition - January 2024 issue - has just been released yesterday! It is the dive industry's only trade magazine that reaches every brick-and-mortar dive shop in the USA, plus a bonus global digital current circulation of over 14,400 dive travel sellers, dive industry professionals, global dive retailers, manufacturers, sales representatives and more!
Scuba Diving Industry Magazine is the brainchild of William Cline who heads up the diving industry's premier marketing, advertising, research and consulting firm with over 30 years of marketing diving worldwide since 1990 (https://www.WilliamCline.com). I am pleased to announce that I have joined the ‘Scuba Diving Industry Magazine’ team as the contributor of content for Australia and Oceania region – ‘Across the Globe’. The very first edition - January 2024 issue - has just been released! It is the dive industry's only trade magazine that reaches every brick-and-mortar dive shop in the USA, plus a bonus global digital edition. It covers 165 countries with a current circulation of over 14,400 dive travel sellers, dive industry professionals, global dive retailers, manufacturers, sales representatives and more! You can have a read and subscribe to Scuba Diving Industry Magazine at: https://online.flippingbook.com/view/370738809/
Scuba Diving Industry Magazine is the brainchild of William Cline who heads up the diving industry's premier marketing, advertising, research and consulting firm with over 30 years of marketing diving worldwide since 1990 (https://www.WilliamCline.com). Cline’s 4th Quarter Dive Business Survey is out as well! Click here to take our brief 3-minute business survey Results are sent free regardless of participation.

Friday, 2 February 2024, the ASX gained 111.20 points to finish at 7699—a new all-time closing high. A new high was reached on Wednesday, but after US Federal Reserve Governor Powell said no rate cut in March, the market fell back yesterday.
However, Friday morning's strong profit results from Meta (Facebook) and Amazon have buoyed the market to bounce higher, and this fed into the Australian market. Meta is up 15% in the US aftermarket, and Amazon is up 8%. Before yesterday's US profit results, AMP's Shane Oliver said 50% of US companies had reported an average profit growth of 6.2%. This has been a good signal for the market as it experiences falling inflation and expectations of lower interest rates.

A thought for you .....................

Interesting story

Aust shares gain again, flirting with new all-time high The local share market was up 0.6 per cent at midday, and had moved less than three points away from eclipsing its previous record high set back in mid-2021.

From Tourism and Events Queensland:
Cyclone Kirrily resources
As Cyclone Kirrily impacts the North Queensland coast through today, there are a range of resources available to support businesses in the aftermath of a weather event.
Those resources have been centralised on a new page on TEQ’s industry website to help you navigate all the help that is out there.
A tourism-specific checklist is available with advice to help in the immediate hours following a weather event, as well as following days and weeks.
There is also a social media tile in multiple languages you may wish to use to help warn visitors against driving in flood waters.
A newly created, dedicated visitor safety fact sheet is also available now in English, with German, French, Japanese and Chinese versions due to be loaded as soon as possible.

Happy Australia Day for tomorrow.
Thursday, 25 January 2024, the ASX gained 36 points to finish at 7555. This is the fifth positive day in a row after gaining 4 points yesterday. The gains were mainly from resources such as BHP +1.45% and RIO +2.8%. This was due to the iron ore price increasing to $135 as China cut interest rates and increasingly talk of government stimulus. Additionally, the S&P500 hit another ALL TIME HIGH as the technology rally continued. Microsoft briefly hit $3 trillion value and has passed Apple as the biggest company in the world.
# Guarantee (SGC) for employees increases to 11% from 1/7/23
# Commonwealth Seniors Health Care card has seen the income limit increase to $152k (per couple) $95.4k (single).
# Account Based Pension minimum pension payments will revert back to normal from July 2023 (from half normal, which were put in place due to COVID in 2020).
# Australian Prime Minister Albanese has changed the Stage 3 legislated tax cuts with a broader range of cuts. This is a political decision and not a response to an economic emergency. Unemployment at 3.9%, positive economic growth, and interest rates at 4.35% are not an emergency. Many voters will not be happy with the pre-election promise this latest development breaks.
Other news:
• The US VIX (Fear) Index decreased from 13.19 to 13.14. The VIX is within the normal levels (10 to 17).
• Iron Ore decreased from $128.85 to $135.15 ALL-TIME HIGH of $237.57. Av expected for 2024 is $112.
• Copper increased from $3.79 to $3.87. Expecting an increase over 2024.
• Gold decreased from $2032 to $2016. Had a new record in December of $2152 but could not hold it.
• AUD/USD decreased from 66.04c to 65.73c. Recent low point 62.9c.
• Asian markets were up based on a strong rebound from Chinese markets.
A thought for you …….

Tuesday, 23 January 2024, the ASX gained 38 points to finish at 7515. This is the third positive day in a row, and the market is back above 7500, which has been a resistance line for about 18 months.
The gains were mainly fed from the US as DOW and S&P500 reached 'ALL-TIME HIGHS' (ATH) overnight, and the Japanese Nikkei reached 34-year highs.
The main Australian gains came from healthcare which lagged in 2023 as the prospect of lower interest rates provides a better profit outcome. Additionally, CBA continues to defy broker target prices by breaking another ATH (4th in 8 days).
A thought for you ......................
Resources are having mixed results, with the iron ore price well above $100, but other areas are seeing sharp falls in prices, including lithium and nickel. This is putting some pressure on the viability of some mines as a rush to open mines has caused a supply issue, and those that don't have low operating costs will find it difficult to stay open.

This week - US GDP, US Profits and inflation indicators will guide whether this rally can continue in the short term.

Friday, 19 January 2024, the ASX gained 75 points to finish at 7421, 6 points higher than Tuesday. Today saw the drop over the last two days be regained, but we have returned into the 7000 to 7500 trading window which is where the market has spent most of the last 18 months.
All sectors were positive apart from Utilities as the market starts to reduce expectations of many rate cuts this year (especially in the first half of the year). While inflation is falling, services inflation is still considered sticky and may tick up if the focus of fight inflation is reduced by lower interest rates.

Tuesday, 16 January 2024, the ASX dropped 1.1% or 82 points to finish at 7415. This is a four-week low and sees some of the unwinding's of the Christmas rally.
All sectors were down today as commodity prices have weakened since the start of the year. US Federal Reserve committee members keep saying that interest rates aren't likely to be cut until later in the year. The market has priced in 6 cuts in the US starting from March. Maybe some are starting to listen and lower expectations.

World stocks at highest in over a year on rate cut bets By Koh Gui Qing and Dhara Ranasinghe NEW YORK/LONDON (Reuters) -World stocks rallied to their highest level in more than a year on Wednesday, while the U.S. dollar hit a five-month low, as expectations mounted that key central banks such as the Federal Reserve will start to cut interest rates early....

Christmas cheer as Australian shares hit 10-month high The local bourse has closed up 0.8 per cent to finish at its highest level since early February, in what one analyst called a textbook Santa rally.

Some good news from the market

ASX 200 closed at its highest level since September on Tuesday Sky News Business Reporter Edward Boyd says the ASX 200 finished up 0.50 per cent on Tuesday which is the highest level since mid-September.

A very interesting article - get a degree or not??

Are college degrees useless, or are they worth the pain? A November 2022 survey by ZipRecruiter collected by Bussiness Insider shows that 44% of respondents with college degrees regretted choosing their major, with English, communications, sociology, and marketing as the most regretted majors. So is college really not worth the pain?

Friday, 24 November 2023, the ASX 200 gained 12 points to finish at 7041. November has held onto the initial sharp bounce, which made up for the drop in October. So, we are back to the same level as the end of September. We are above 7000 and remain in the trading range, which is where we have been for the last 12 months. On one hand, this is not a bad result given the number of interest rate rises, usually, markets would sell off when rates rise, but on the other hand, we are lacking a catalyst to send the market higher as the impact of the rate rises are still to wash through the economy. The brokers are starting to put their 2024 crystal ball gazing to work.
On another note, our directors have had an article published in the high-profile publication ScubaDiver magazine (November edition) following their work in the Coral Sea and Great Barrier Reef Marine Park.
Have a great weekend.

Hundreds of tourism industry representatives from across the state will gather in Cairns next week for Destination IQ and DestinationQ and to celebrate successes at the Queensland Tourism Awards.

Wednesday, 1 November 2023, the ASX 200 had a relief rally of 58 points to finish at 6838. A positive start for the month came on the back of the US markets overnight. This is before the US Federal Reserve meeting early tomorrow morning, which is expected to keep rates on hold. The lowest European inflation in two years was a nice settler for the market concerned about inflation restarting to rise again, especially with the ongoing Middle East war.

We are pleased to announce that we are continuing to engage the marine industries and in particular are very proud of the volunteer work our CEO does on two of the Great Barrier Reef Marine Park Authority's advisory committees. Our biggest struggle is that we need to ensure that the media report accurately the conditions of the reef heading into the southern hemisphere summer season. During October we completed several expeditions to the Coral Sea and Ribbon Reefs of the Great Barrier Reef Marine Park and found the corals and fish life in excellent condition. Water temperatures were also below what we usually encounter at this time of year which hopefully will help reduce any potential coral bleaching event. Our next expedition is to Fiji for the early part of November.

On a market perspective, Tuesday, 31 October 2023, the ASX 200 had a slight gain of 8 points to finish at 6781. This is the lowest since mid-October 2022. So October delivered another negative month, down 3.8%, three negative months in a row. October would have been worse had it not been for BHP +0.56%, RIO +3.55%, and a slightly higher iron price. However, global uncertainties are having an impact and while strong US GDP and Australian retail sales suggest things are travelling better than expected, but that's not the whole picture.
A thought for you ..................

Interesting perspective on interest rates.

The ‘red flag’ for a rate rise in November BetaShares Chief Economist David Bassanese has revealed “a far more important indicator” than the unemployment rate which may point to a November rate rise from the RBA in 2023.

Australia has a household debt of $116,179 (£94,925) per working-age person. Australia's vast level of household debt has been described by AMP Capital's Shane Oliver our nation's "Achilles heel". Additionally, Australia's current interest rate of 4.1% is also a thorn in the side of householders.

‘It’s divided’: Economists conflicted on when interest rates will rise Sky News Business Editor Ross Greenwood says economists have got “really mixed views” on whether interest rates will rise again.

Reserve Bank leaves interest rates on hold at 4.1 per cent for fourth-straight month at first meeting chaired by Michele Bullock The Reserve Bank has left the cash rate unchanged at 4.1 per cent for the fourth month in a row at Michele Bullock's first meeting as governor, but warns another rate hike may be needed as uncertainty grows around oil prices.

Tuesday, 3 October 2023, the ASX 200 fell 90 points to finish at 6943, the lowest level since late March, when Silicon Valley Bank and Credit Suisse were having problems. We have also broken out of the trading range 7000 to 7500, so it will be interesting to see what the next few weeks bring. As mentioned in earlier posts, this time of year is usually weak (until mid-October). And also again, the market is finally paying attention to the fact that interest rates will remain higher for longer.
A thought for you ...................