Skip to main content

Morning Bell 10 February

Sophia Mavridis
February 10, 2023

New York edged lower overnight amid renewed rate-worry weakness. All three major benchmarks closed in the red, and all eleven of the S&P500 industry sectors closed lower. The Dow Jones is down 0.7%, the S&P500 down 0.9% and the Nasdaq down just over 1%.

Over in Europe however, equities rallied, with the STOXX 600 closing 0.6% higher, Germany’s DAX up 0.7%, France’s CAC up 1% and the FTSE 100 up 0.3%.

What to watch today:

  • Following US equities overnight, the SPI futures are suggesting the ASX200 will drop 0.35% at the open this morning.
  • In commodities, oil prices are down almost 1%, pausing a three-day rally as rising US inventories offered a bleak picture for domestic demand. Gold is also in the red again, after rebounding further from one-month lows. And iron ore is down 0.5% to US$124 per tonne.
  • In economic news, today the RBA will release a statement on monetary policy.
  • And companies reporting today includes News Corp (ASX:NWS) and REA Group (ASX:REA).
  • United Malt Group (ASX:UMG) is set to hold its AGM today.

Trading Ideas:

  • Bell Potter maintain a BUY rating on DDH1 (ASX:DDH) following a strong set of preliminary earnings results. They have increased their price target from $1.44 to $1.47, and at DDH’s current share price of $0.99, this implies 48.5% share price growth in a year.
  • Trading Central have identified a bearish signal in Perseus Mining (ASX:PRU) indicating that the stock price may rise from the close of $2.04 to the range of $1.63 – $1.71, over 62 days, according to the standard principles of technical analysis.

7 Minutes with 7 Executives

Bell Direct
April 12, 2024

Weekly Wrap 12 April

Grady Wulff
April 12, 2024

Morning Bell 12 April

Sam Kanaan
April 12, 2024

Morning Bell 11 April

Grady Wulff
April 11, 2024

Morning Bell 10 April

Grady Wulff
April 10, 2024

Morning Bell 9 April

Sam Kanaan
April 9, 2024

Morning Bell 8 April

Grady Wulff
April 8, 2024

Morning Bell 5 April

Sam Kanaan
April 5, 2024

Morning Bell 4 April

Sophia Mavridis
April 4, 2024

Morning Bell 3 April

Grady Wulff
April 3, 2024

Morning Bell 2 April

Sam Kanaan
April 2, 2024