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The Aussie share market is set for a negative start to the week. The futures are hinting a 0.5% pull back, following all three US major indices closing lower.
Watch to watch today:
- Given the increased restrictions in Melbourne and Sydney, Australia is likely to see economic activity fall in the September quarter by 1.4% from July to September.
- Sydney’s new restrictions include a pause on all construction, with 250,000 construction workers told they cannot work. Additionally, non- essential retail stores are closed and Sydney’s public transport has been halved with timetables reverting to Sunday schedules.
- As the construction industry takes a big hit, watch Boral (ASX:BLD), Brickworks (ASX:BKW), CSR Limited (ASX:CSR), and CIMIC (ASX:CIM) and Fletcher Building (ASX:FBU).
- Energy stocks are expected to make strong rebounds this week, while banking will pull back.
- Commonwealth Bank (ASX:CBA) are offering loan deferrals and Westpac (ASX:WBC) are offering interest free temporary overdrafts.
- Brisbane may potentially host 2032 Olympics. The announcement will be made on Wednesday. This will be positive news for infrastructure, engineering, travel and tourism and hospitality stocks.
- The iron ore price rose 0.5%, copper rose 2.4% and coal prices surged to almost $150.00 a ton, to their highest level in a decade.
- Citi has reiterated Afterpay (ASX:APT) as a HOLD with a $125.00 price target.
- Neometals (ASX:NMT), archTIS (ASX:AR9) and Strike Resources (ASX:SRK) are all giving off bullish charting signals, according to Trading Central.