The ASX200 is eyeing a flat open to start the week.
Restrictions are easing in South Australia and Queensland has opened its borders.
What to watch today:
- The market could see a rise for the seventh week, with consumer spending, local tourism, food and beverage stocks to see a jump in sales as we get closer to Christmas.
- All eyes on Flight Centre (ASX:FLT) as a court trial kicks off today. Flight Centre is being accused of underpaying a handful of workers for over 13 years. FLT is a Morgan Stanley, UBS and Bell Potter buy.
What to watch this week:
- The Mid-Year Economic and Fiscal Outlook (MYEFO) is set to be released later this week. It is expected to show a stronger bottom line than October’s budget thanks to the rally of the iron ore price, while spending is expected to drop due to the JobKeeper payments.
Local trading ideas:
- Austal (ASX:ASB) was reiterated as a Citi buy with a $4.30 price target. Given the U.S., Australia, the Philippines and governments may look to stimulate economies through ship building programs, ASB’s revenues could rise.
- Asaleo (ASX:AHY) was reiterated as a Citi buy after it received a takeover offer.
- McPherson’s (ASX:MCP), Ava Risk Group (ASX:AVA) and Audio Pixels Holdings (ASX:AKP) are all showing bullish charting signals according to Trading Central.