Skip to main content

Morning Bell 11 April

Sophia Mavridis
April 11, 2023

It was a mixed session on in New York ahead of key inflation data and quarterly bank reports out this week. Tech stocks struggled to make gains, with shares of Apple falling 1.6% and Alphabet falling 1.8%. The Nasdaq closed in the red, while the Dow and the S&P500 advanced.

What to watch today:

  • To start the trading week after we return from the Easter long weekend, the Australian market is set to open 0.3% lower this morning.
  • In commodities,
    • Oil prices have taken a downward turn amid renewed concerns that a potential global recession would weaken demand, and this offset the bullish bets around tighter global supplies.
    • The price of gold is also lower, retreating slightly from its one-year high, as the US dollar gained some ground after the US non-farm payrolls report pointed to a tight labour market. The report also supported bets for another interest rate hike form the Fed in May.
    • Iron ore continues to fall, reaching the lowest in three months, due to weak demand at the beginning of China‚Äôs construction season.
  • In economic data today, Westpac will release its data on consumer confidence for April, and NAB will release its data on business confidence for March.

Trading Ideas:

  • Bell Potter have re-initiated coverage on Alicidion (ASX:ALC), an Australian healthcare informatics company. Bell Potter have a speculative buy rating on ALC and a valuation of $0.20 per share. At the current share price of $0.12, this implies 73.9% share price growth in a year.
  • Trading Central have identified a bullish signal in Jumbo Interactive (ASX:JIN), indicating that the stock price may rise from the close of $13.43 to the range of $13.80 to $13.95 over 19 days, according to the standard principles of technical analysis.

Weekly Wrap 17 May

Sophia Mavridis
May 17, 2024

Morning Bell 16 May

Sam Kanaan
May 16, 2024

Weekly Wrap 10 May

Grady Wulff
May 10, 2024

Morning Bell 10 May

Sam Kanaan
May 10, 2024

Morning Bell 9 May

Grady Wulff
May 9, 2024

Morning Bell 8 May

Grady Wulff
May 8, 2024

Morning Bell 7 May

Sam Kanaan
May 7, 2024

Morning Bell 6 May

Grady Wulff
May 6, 2024

Weekly Wrap 3 May

Sophia Mavridis
May 3, 2024

Morning Bell 2 May

Sophia Mavridis
May 2, 2024

Morning Bell 1 May

Grady Wulff
May 1, 2024

Morning Bell 30 April

Grady Wulff
April 30, 2024