Morning Bell 26 February

Bell Direct
February 26, 2021

US stocks saw their biggest pull back since October with the Nasdaq falling 3.5% and the Dow losing 1.8%. It comes as investors are concerned that long-term interest rates, as measured by the US treasury yield rose 1.6% to a one-year high.

Following the pull back in global equities, the Aussie share market is tipped to fall 1.4%, which will erase this week’s rise.

What to watch today:

  • Tech stocks are expected to pull back. The tech index is already down 8% this week, which is its biggest fall drop since COVID-19 hit in March 2020.
  • Afterpay (ASX:APT) looks like it will come out of a trading halt. APT announced its increased its capital raising to $1.5b and plans to list in Singapore to launch in Asia.
  • It’s the last official day of Earnings Season. Kogan (ASX:KGN) reported its profit more than doubled in the half year to $23.6m, after revenue jumped 90%.
  • Other results to watch: HSN, AEF, AFG, ORE, LYC, OPT, PNV, CUV, HVN, BUB, BWX, EOS and ASB.
  • Commodity stocks will see mixed results today as the oil price rose 0.4% to US$63.47 – its highest level in a year and Copper fell from its 9.5 year high, falling 1.9%. Gold slipped 1.6% .

Trading ideas:

  • Alcidion (ASX:ALC) had it Buy rating upgraded by Bell Potter, with an increased $0.30 target – on rising levels of demand, particularly in the UK and Europe, where it’s gaining new contracts.
  • Eagers Automotive (ASX:APE) was reiterated as a Bell Potter Buy with a $15.50 price target after the company said its order book is remaining strong, despite COVID-19.
  • Galan Lithium (ASX:GLN), Chalice Mining (ASX:CHN) and Piedmont Lithium (ASX:PLL) are giving off bullish charting signals according to Trading Central.

Weekly Wrap 7 May

Bell Direct
May 7, 2021

Morning Bell 7 May

Bell Direct
May 7, 2021

Morning Bell 6 May

Bell Direct
May 6, 2021

Morning Bell 5 May

Bell Direct
May 5, 2021

Morning Bell 4 May

Bell Direct
May 4, 2021

Morning Bell 3 April

Bell Direct
May 3, 2021

Weekly Wrap 30 April

Bell Direct
April 30, 2021

Morning Bell 30 April

Bell Direct
April 30, 2021

Morning Bell 29 April

Bell Direct
April 29, 2021

Morning Bell 28 April

Bell Direct
April 28, 2021

Morning Bell 27 April

Bell Direct
April 27, 2021