Skip to main content

Latest stock market podcasts

Morning Bell 20 October

Bell Direct
October 20, 2023

Wall St has closed lower on Thursday as the 10-year treasury yield nears 5%. The Dow Jones lowered 0.75%, the S&P 500 fell 0.85% and the tech-heavy Nasdaq ended Thursday nearly 1 percent lower.

Federal Reserve Chair, Jerome Powell described US inflation as “too high” and would likely require lower economic growth. As a result, investors have taken away that it is likely that the Fed would likely maintain interest rates at its next policy meeting.

The US 10-year treasury yield reached a peak of 4.996%, closing in on a 5% mark that hasn’t been hit since 2007.

Over in Europe, markets closed lower for a third consecutive day as investors react to the Hamas-Israel war, earnings and economic data. The STOXX600 ended Thursday down 1.16%, it’s lowest close since March 15. Germany’s Dax and French CAC closed 0.33% and 0.64% lower respectively, whilst over in the UK, the FTSE 100 ended the day 1.17% in the red.

Locally yesterday, the ASX 200 ended the day down 1.36% with all sectors finishing in the red. This was led by the information technology and consumer staples sectors which saw a 1.84% and 1.63% close in the red.

What to watch today:

  • The Australian share market is set to open lower, with the SPI futures suggesting a fall of 0.64% at the open this morning.
  • In terms of economic data,
    • The Australian jobless rate was released yesterday, which saw it fall to 3.6%, a sign showing that the labour market remains tight.
  • On the commodities front this morning,
    • Oil is up 2.23% to 90 US dollars and 30 cents a barrel as concerns in the Middle East ramp up supply issues to major distributors.
    • Gold is up 1.37% to 1974 US dollars an ounce as the escalation in the Middle Eastern war increases the demand for the precious metal as a safe-haven asset.
    • And iron ore is down 2.05% to 119 US dollars and 50 cents a tonne, despite Rio Tinto signalling that it will attempt to increase iron ore mining to satisfy the demand growth in China.

Trading Ideas:

  • Bell Potter maintains a buy rating on Telix Pharmaceuticals (ASX:TLX) and has maintained its price target of $14 with a current share price of $9.20. The buy rating is maintained as revenues are ahead of the forecast and reported revenues in the third quarter represent an 11% sequential quarter increase.
  • And Trading Central has identified a bullish signal on Evolution Mining (ASX:EVN), indicating that the stock price may rise from the close of $3.60 to the range of $4.10-$4.20 over a pattern formed in 5 days according to the standard principles of technical analysis.

Weekly Wrap 23 February

Bell Direct
February 23, 2024

Morning Bell 22 February

Bell Direct
February 22, 2024

Morning Bell 21 February

Bell Direct
February 21, 2024

Morning Bell 20 February

Bell Direct
February 20, 2024

Morning Bell 19 February

Bell Direct
February 19, 2024

Weekly Wrap 16 February

Bell Direct
February 16, 2024

Morning Bell 16 February

Bell Direct
February 16, 2024

Morning Bell 15 February

Bell Direct
February 15, 2024

Morning Bell 14 February

Bell Direct
February 14, 2024

Morning Bell 13 February

Bell Direct
February 13, 2024

Morning Bell 12 February

Bell Direct
February 12, 2024