5 things you need to know before markets open in Australia and around the world.
Here’s 5 things you need to know as the markets open around the world.
1. Good news for Australian Lithium Mines
Lithium, and the mining of that metal, have been hot topics ever since the first Tesla hit the streets. Australia went about developing lithium mines and found itself in direct competition with the longer-established Argentinian mines. There was a recent announcement that under new austerity measures in Argentina, the government will impose a 4 pesos for every $US of value exported. In such a competitive business, that means good news for Australian exporters of lithium.
2. “Respect” for Aretha Franklin
The funeral service of the “Queen of Soul’, Aretha Franklin, was held this month at the Greater Grace Yemple in Detroit. Franklin sang at the inauguration of 3 US Presidents, Carter, Clinton and Obama. She was known as an American institution and her silky voice entertained millions. Aretha went out in style dressed in a golden sequin outfit and with a number of famous current day singers performing at the service.
While the service was publicised as being private, hundreds of fans gathered outside and some were lucky enough to be allowed in to sit behind the family in the pews. The city has treated her death as the passing of royalty, with Franklin’s body laying in repose in the Charles H Wright Museum of African American History’s grand rotunda for two days of public visitation earlier this week. Her coffin is to be entombed on Friday in Detroit’s Woodlawn Cemetery near the remains of her father; her brother, Cecil Franklin; and her sisters, Carolyn and Erma Franklin.
During the service, mourners got to their feet to clap and sing ahead of tributes to the queen of soul by former US president Bill Clinton and singer Stevie Wonder.
3. The Jaguar I-Pace not better than Tesla 3 Performance
The Jaguar I-Pace was originally touted by the manufacturer as being a “Tesla Killer.” But when you compare important specs, the I-Pace doesn’t really measure up to the competition. The Jaguar has a range of about 320 km (200 miles), which is quite good, and it’s acceleration from 0 – 60 is 4.5 seconds. Quite fast. In size the I-Pace is closer to the Tesla Model 3, hence smaller than the Model S and X. it is priced fairly high at $69,500 and $5000 more than the Tesla Model 3 Performance variant of that car. But for the price difference the Tesla has better performance, speed and longer range.
The Model 3 Performance is designed to beat high-performance cars like the BMW M3 and the Audi RS5. Its acceleration is impressive, allowing the electric vehicle to sprint from 0-60 mph in 3.5 seconds. The Tesla’s range is also 400 km (315 miles) per charge, and it is supported by the company’s Supercharger network.
If anything, the Jaguar I-Pace is best described as a “fossil fuel killer” rather than a “Tesla killer.” It has better specs and performance than petrol powered cars, enough reason for the eco-conscious to fork out their hard-earned and help save the world.
4. EV’s in Europe pass the million mark
The not-so-surprising good news from Europe is that there has been a growth in the sale of electric vehicles with an increase in sales of 42%. This sales surge brought the cumulative number of plug-in cars on European roads to over one million for the first time ever, and that number could reach 1.3 million by the end of the year.
This surge in sales means that the concept of EV’s, as well as the positive environmental impact they provide, is catching on with people rather than EV’s being purchased because they come with large government subsidies. With electric vehicles gaining momentum, the supporting infrastructure will also grow so that fueling stations will become a lot more popular as well as a lot more regularly spaced.
Let’s not get too carried away as the 42% increase represents just 2% of total vehicle sales. We stil have a way to go. Norway’s surge in EV’s has seen the first evidence of a decline in oil demand. Let’s take that as a sign of the times.
5. Tougher Markets expected in September
Will the stock market follow historic trends for September, a month during which it seems the markets take a tumble? The stock Trader Almanac states that investors need to be aware of past trends during that month.
Wall Street will likely kick off September with equities trading at, or near, all-time highs. The S&P 500 and Nasdaq both hit record highs on Tuesday. Meanwhile, the Dow traded about 2 percent from its record high.
Trump recently mentioned that more sanctions will be put in place against China, and that will cause further anxiety for the markets. Investors could also experience added volatility in September as a U.S. midterm election looms. The Dow and Nasdaq’s average losses for September widen to 1 percent and 0.8 percent, respectively, in midterm election years.