The Federal Government released its 2021-2022 recovery budget, unveiling funding for infrastructure projects, aged care and defence and intelligence agencies.
Following the US, the Aussie share market is set to drop, with the futures a 0.64% fall.
What to watch today:
- The Federal Government unveiled its 2021-2022 “recovery budget”. There are three key considerations for ASX investors and companies:
- Firstly, $15.2 billion in additional spending will go to infrastructure projects. Watch Lendlease Group (ASX:LLC) and Cimic Group (ASX:CIM).
- Secondly, $18 billion in additional funding will go to the aged care system. Keep an eye on companies like Regis Healthcare (ASX:REG), Estia Health (ASX:EHE), Japara Healthcare (ASX:JHC), PainChek (ASX:PCK) and Alcidion (ASX:ALC).
- Finally, $1.9 billion will go to defence and intelligence agencies. Watch Austal (ASX:ASB), Appen (ASX:APX) and BrainChip (ASX:BRN).
- CBA, Pushpay Holdings (ASX:PPH), AusNet Services (ASX:AST) and CSR Limited (ASX:CSR) set to report today.
- AGMs today include Sigma Healthcare (ASX:SIG), Smartgroup Corporation (ASX:SIQ), Telix Pharmaceuticals (ASX:TLX) and Unibail-Rodamco Westfield (ASX:URW).
- The Oil price lifted about 0.9%, the Gold price slipped as rising US yields dim appeal. And, Copper was up 1.5%.
- The most traded stocks by Bell Direct clients yesterday: Westpac (ASX:WBC), National Australia Bank (ASX:NAB) and ANZ (ASX:ANZ).
- Bell Potter have maintained their Buy recommendation on AMA Group (ASX:AMA), however have decreased its price target by 18%.
- Bell Potter have upgraded their recommendation on Eagers Automotive (ASX:APE) from a Hold to a Buy.
- Harvey Norman (ASX:HVN), Adacel Technologies (ASX:ADA) and Capral (ASX:CAA) are all showing bullish charting signals according to Trading Central.