The Aussie market futures are suggesting we’re in for a negative start, a fall of 0.5%.
Over in the US, there was a buying frenzy in silver stocks, as Reddit investors took vengeance on the likes of JP Morgan who betted the price of silver would go down. Secondly, GameStop shares jumped 68% after Robinhood re-allowed buying in the stock.
What to watch today:
- Perth has entered a five day lockdown, while Queensland opened its border to Sydney.
- So expect Woolworths (ASX:WOW), Coles (ASX:COL) and IGA Owner Metcash (ASX:MTS) to do well following the frenzy buying
- And expect Dreamworld owner Ardent Leisure (ASX:ALG) to get a kick.
- The Gold price rose 0.5%. But the real show stopper – will be Silver, after its price jumped 2.5%. Keep an eye on Silver Mines (ASX:SVL) +10%, Manuka Resources (ASX:MKR) +8%, Investigator Resources (ASX:IVR) +5% and in the large caps, South32 (ASX:S32) is seeing some early buy orders.
- Nickel-cobalt company GME Resources (ASX:GME) as its shares have been rallying as traders were mistaking its shares for GameStop which has the same ticker in the US.
- The PM will give his first speech outlining the Government’s strategy for 2021, including spending $1.9 billion in vaccine efforts.
- Home loan data is out for December.
- Media company, Access Innovation (ASX:AIM) was reiterated as Bell Potter buy with a $1.35 target.
- Origin Energy (ASX:ORG) was ear marked as a UBS buy on its sales volumes increasing. UBS has a $6.65 target for ORG. It last traded at $4.74.
- ReadCloud (ASX:RCL), Evolve Education (ASX:EVO) and Enero Group (ASX:EGG) are all giving off bullish charting signals according to Trading Central.