Here’s what you need to know today

• The US markets closed last week strongly, with the S&P 500 index hitting a new all-time high. Tesla led the way, up 7% on the day, while 6 of the 7 megacap US technology stocks were higher. The only one that went lower was Amazon. (AFR)
  
  

• The reason for the strong momentum in the US? Traders are calling it an almost certainty that the US Federal Reserve will cut rates this coming Tuesday. The likely rate cut comes despite US inflation ticking up from 2.7% to 2.9% in the 12 months to August. (BBC)
  
  

• Australia has announced it will spend another $25 billion on defence, in a move that is intended to show the US it is serious about pulling its weight in their alliance. It comes a week before Anthony Albanese is scheduled to fly to the US for his first one-on-one meeting with President Trump. (AFR)
  
  

• After more than 6 years of environmental assessments, the Australian government has given final approval for Woodside’s extension of the North West Shelf gas project. The approval extends the life of the gas field from 2030 to 2070. (Capital Brief)
  
  

• Navigator North, a $8 billion offshore wind farm off the coast of Victoria, has been put on hold. The 110-turbine farm was slated to deliver power to more than 1 million Victorian homes, but has been shelved due to an inability to meet Victorian government deadlines. (ABC News)
  
  

• Since the collapse of REDcycle a few years ago, there has been no recycling option for soft plastics in Australia. That is starting to change with 500 Woolworths, Coles and Aldi stores in NSW and Victoria starting a trial of a new soft plastic recycling process. If successful, the plan is to roll it into parts of QLD, the ACT and SA in the next 12 months. (ABC News)
  
  

• The latest UK economic figures paint a bleak picture of the British economy. After 0.4% monthly growth in June, the economy did not grow at all in July. Production output, including manufacturing, declined by almost 1% in July. Britain now faces the prospect of stagflation - where the economy sees no growth and persistent inflation. (BBC)
  
  

• Nepal has its first female Prime Minister. Sushila Karki, Nepal’s former Chief Justice, was named interim Prime Minister after the former leader, K.P. Sharma Oli, resigned after widespread protests over an attempt to ban social media in the country. (Reuters)

What the…?

Albania has become the first country in the world to appoint AI to its government ministry. The AI bot named Diella has been named the minister in charge of all public procurement.

Albania's prime minister, Edi Rama, explained the move as using AI rather than a human will allow Albania to become "a country where public tenders are 100% free of corruption". (BBC)

Investing is a lifelong journey

Here’s what you can learn today

Nick Griffin: The #1 tip I’d teach every investor

We’ve asked a number of experts their #1 tip for investors. This week in the email, we’re sharing some of their answers. (Watch the full montage here)

Today, we’re sharing the answer from Nick Griffin, founding Partner and Chief Investment Officer of Munro Partners.

Nick: Block out the noise. It’s really simple.

You have to understand that there are whole newspapers and television channels that are dedicated to getting your attention about what’s happening in financial markets. And so they spend their entire time trying to explain what’s happening based on, “it’s risk on” or “people are worried about rates or growth slowing” and they’ll always go back to the economy. They’ll always go back to the economy because that’s the one thing that they can constantly fill news with.

Does that make sense? So they’ll try and convince you that the equity market and the economy are the same things, okay? They’re not, the equity market is not the economy. The equity market is not the economy. I’ll say it over and over again.

The stocks that you’re investing in are generally being driven by a large structural change or their competitive position. That’s what really matters over a 5 to 10 year view and all that other stuff is noise. And the whole industry is designed to push it down your throat, and the quicker you block it out, the better you’ll become as an investor.

Want to watch the full montage? Check it out on the Equity Mates Clips YouTube channel:

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