Skip to main content

Morning Bell 14 November

Sam Kanaan
November 14, 2023

Wall St had a mixed start to the trading week with the Dow Jones adding 0.16% as traders look past the US outlook cut from Moody’s. The S&P 500 and the tech-heavy Nasdaq finished the day 0.08% and 0.22% lower respectively.

In terms of US stocks, DaVita, Insulet and Henry Schein all gained over 7% each, with Boeing also adding 4% after Emirates announced a $52 billion order for aircraft, helping lift the Dow.

Over in Europe, markets closed higher overnight with the STOXX 600 closing 0.7% higher with travel and leisure stocks leading the way, adding 1.7%. Germany’s DAX gained 0.73%, the French CAC added 0.6% and over in the UK, the FTSE100 ended the trading session 0.89% in the green.

Locally yesterday, the ASX200 fell 0.40% with all but the utilities sector finishing in the red. Losses were led by the energy sector and the real estate sector which lost 0.88% and 0.56% respectively.

What to watch today:

  • The Australian share market is set to open higher, with the SPI futures suggesting a rise of 0.86% at the open this morning.
  • In terms of economic data today,
    • Westpac consumer confidence change will be released at 9:30am this morning with a forecast of a 0.7% lowering from the 2.9% in October.
    • And later on tonight, over in the US, core inflation data is set to be released with a consensus to maintains its previous result of 4.1%.
  • On the commodities front this morning,
    • Oil is up 1.60% to 78 US dollars and 40 cents a barrel with OPEC increasing its 2023 global oil demand growth forecast to 2.46 million barrels per day.
    • Gold is up half a percent to 1946 US dollars an ounce and iron ore is up 0.38% to 130 US dollars and 50 cents a tonne.

Trading Ideas:

  • Bell Potter maintains a buy rating on Elders (ASX:ELD) and has increased its price target to $8.35. The buy rating is maintained by Bell Potter following the release of FY23 results with underlying NPAT ahead of expectations at $103.7m, raising NPAT forecasts in FY24 by 13% and 15% in FY25.
  • And Trading Central has identified a bullish signal in Grange Resources (ASX:GRR), indicating that the stock price may rise from the close of $0.51 to the range of $0.53-$0.55, on a pattern formed over 29 days, according to the standard principles of technical analysis.

Morning Bell 15 April

Grady Wulff
April 15, 2024

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