Morning Bell 10 September

Sophia Mavridis
September 10, 2021

Wall Street extended its losses overnight, with all three major indices closing in the red. The S&P500 down 0.5%, the Dow Jones down 0.4% and the tech heavy Nasdaq down 0.3%.

 

Yesterday the ASX200 closed 1.9% lower, with equity sell offs across the market, after the NSW Government announced a roadmap out of lockdown.

 

Today, despite US equities falling, the SPI futures are suggesting the ASX200 will open 0.3% higher.

 

What to watch today:

  • Consumer Inflation Expectations for September will be released this morning at 11am AEST. Inflation expectations deceased from 3.7% in July, to 3.3% in August. Forecasts expect it to fall to 3.2%.
  • Companies going ex-dividend today include: Argo Global (ASX:ALI), Ariadne Australia (ASX:ARA), Base Resources (ASX:BSE), Cleanaway Waste Management (ASX:CWY), Sequoia Financial (ASX:SEQ) and WiseTech (ASC:WTC).
  • The most traded stocks by Bell Direct clients yesterday included ANZ (ASX:ANZ), Flight Centre (ASX:FLT) and Fortescue Metals (ASX:FMG).
  • The oil price has fallen 2.2% and is trading at US$67.80 a barrel, pressured by China’s decision to release crude oil reserves to the market, to lower domestic prices, stabilising domestic supply and demand.
  • Copper is trading 0.5% lower and the iron ore price has fallen 1.3% and is trading at US$133.80 a tonne.

Trading ideas:

  • Bell Potter maintain their BUY rating on Envirosuite (ASX:EVS), and have removed their Speculative rating. Bell Potter also increased their price target on EVS to $0.20, after the company’s positive development of a proof-of-concept contract they entered last week with Western Australia’s Water Corporation.
  • Bullish charting signals have been identified in Viva Leisure (ASX:VVA), Pengana Private Equity Trust (ASX:PE1: and Omni Bridgeway (ASX:OBL), according to Trading Central.

Weekly Wrap 3 December

Sophia Mavridis
December 3, 2021

Morning Bell 2 November

Paulina Peters
December 2, 2021

Morning Bell 1 December

Sophia Mavridis
December 1, 2021

Morning Bell 30 November

Paulina Peters
November 30, 2021

Morning Bell 29 November

Sophia Mavridis
November 29, 2021

Weekly Wrap 26 November

Sophia Mavridis
November 26, 2021

Morning Bell 25 November

Paulina Peters
November 25, 2021

Morning Bell 24 November

Sophia Mavridis
November 24, 2021

Morning Bell 23 November

Paulina Peters
November 23, 2021

Morning Bell 22 November

Sophia Mavridis
November 22, 2021

Weekly Wrap 19 November

Sophia Mavridis
November 19, 2021

Morning Bell 18 November

Paulina Peters
November 18, 2021