Skip to main content

Latest stock market podcasts

Morning Bell 8 November

Grady Wulff
December 8, 2022

Wall Street extended the recent red run into the midweek session as investors fear higher interest rates and a subsequent economic downturn are increasingly likely given recent surprising economic data out in the US. The Dow Jones fell 0.2%, the S&P500 lost 0.3% and the tech heavy Nasdaq shed 0.7%.

Further remarks from a host of Wall Street executives added to investor fears of recession, with JPMorgan CEO Jamie Dimon saying the US$1.5trn in excess savings across America’s bank accounts was quickly diminishing amid rising prices of goods and services.

Over in Europe, the global sell-off continued amid rising fears of a global recession. Germany’s DAX fell 0.57%, the French CAC lost 0.41% and in the UK, the FTSE100 closed the midweek session down 0.43%.

On the commodities front, oil extended losses overnight trading 2.78% lower at US$72.18/barrel, coal is down almost 1% at US$405/tonne, gold is up almost 1% at US$1787.67/ounce and iron ore is flat at US$109.50/tonne.

The Aussie dollar is buying 67.27 US cents, 91.76 Japanese yen, 55.05 British pence and 1 New Zealand dollar and 6 cents.

What to watch today:

  • Ahead of the local trading session here in Australia the SPI futures is anticipating the ASX to open 0.26% lower on the back of the turbulent global sessions overnight.
  • Taking a look at economic data out today, Australia’s trade balance data for October is released with the market expecting a decline in trade surplus to $11.9bn from $12.44bn in September.

Trading Ideas:

  • Bell Potter has initiated coverage of The Environmental Group (ASX:EGL) with a buy rating and a price target of $0.26, as the company is seen to be at a significant inflection point. In Bell Potter’s view, core segments validate the majority of EGL’s current share price, providing a cheap option on a high ceiling polyfluoroalkyl substances (PFAS) opportunity.
  • Trading Central has identified a bullish signal on Maggie Beer Holdings (ASX:MBH) following the formation of a pattern over a period of 24-days which is roughly the same amount of time the share price may rise from the close of $0.21 to the range of $0.24-$0.26 according to standard principles of technical analysis.

 

Morning Bell 25 June

Bell Direct
June 25, 2024

Morning Bell 24 June

Bell Direct
June 24, 2024

Weekly Wrap 21 June

Bell Direct
June 21, 2024

Morning Bell 20 June

Bell Direct
June 20, 2024

Morning Bell 18 June

Bell Direct
June 18, 2024

Morning Bell 17 June

Bell Direct
June 17, 2024

Weekly Wrap 14 June

Bell Direct
June 14, 2024

Morning Bell 13 June

Bell Direct
June 13, 2024

Morning Bell 12 June

Bell Direct
June 12, 2024

Morning Bell 11 June

Bell Direct
June 11, 2024

Weekly Wrap 7 June

Bell Direct
June 7, 2024

Morning Bell 6 June

Bell Direct
June 6, 2024