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This week, we’ll be bringing you the Morning Bell in audio format this week as our new office and studio are being built.
The market lost some ground last Friday, after what had been a positive week and closed 0.4% lower, with utilities up the most.
Online marketplace Redbubble (ASX:RBL) was the best performer on the ASX200, gaining over 10%. UBS initiated coverage of the stock, with a NEUTRAL rating and a $3.45 price target. Iluka Resources (ASX:ILU) gained over 7%, amid a broader rally in the electric vehicle focused commodity sector. Meanwhile, Afterpay (ASX:APT) declined the most.
On Friday US CPI data was released. Inflation rose 6.8% year-over-year, its highest rate since 1982. Despite inflation hitting a 39-year high, all three major benchmarks advanced. The S&P500 closed at a record, up 0.95%, the Dow up 0.6% and the tech heavy Nasdaq up 0.7%.
Australian shares are set to open higher. The futures are suggesting a rise of 0.18%.
What to watch today: