Morning Bell 20 April

Sophia Mavridis
April 20, 2021

The Aussie share market is set to open lower this morning, with the futures suggesting the market will fall 0.45% to 7,018 points.

This comes as US equities slipped from their record levels after the tech sector weighed on the broader market.

US investors remain cautious given the large amount of corporate earnings ahead this week as well as the ongoing vaccine rollout in the US.

What to watch today:

  • Following tech shares coming under pressure in the US, it’s worth keeping an eye on Aussie tech shares like Afterpay (ASX:APT) and Xero (ASX:XRO), as the local tech sector tends to follow the Nasdaq’s lead.
  • The oil price lifted 0.5% to US$63.47 a barrel following the US dollar weakening. So, keep an eye on energy producers like Santos (ASX:STO) and Woodside Petroleum (ASX:WPL).
  • The gold price fell 0.32% overnight to US$1,770.47. So Northern Star Resources (ASX:NST) and Evolution Mining (ASX:EVN) will be on watch.
  • The iron ore price fell 0.1%, and copper increased 1.6%, while silver fell 0.58%.

Trading ideas:

  • Bell Potter has a Buy rating on Cooper Energy (ASX:COE), with a $0.45 price target. Cooper Energy has expansion projects aiming to support production leveraged to Australia‚Äôs tightening east coast gas market.
  • Mineral Resources (ASX:MIN) closed yesterday at $43.76. Bell Potter has increased its price target on the stock by 14% to $49.30. EPS forecasts and highly sensitive movement to iron ore prices has led to this lift.
  • Eclipx (ASX:ECX), Lynas Rare Earths (ASX:LYC) and Reliance Worldwide (ASX:RWC) are all giving off bullish charting signals according to Trading Central.

Weekly Wrap 23 July

Jessica Amir
July 23, 2021

Morning Bell 23 July

Jessica Amir
July 23, 2021

Morning Bell 22 July

Jessica Amir
July 22, 2021

Morning Bell 21 July

Sophia Mavridis
July 21, 2021

Morning Bell 20 July

Paulina Peters
July 20, 2021

Morning Bell 19 July

Jessica Amir
July 19, 2021

Weekly Wrap 16 July

Jessica Amir
July 16, 2021

Morning Bell 16 July

Sophia Mavridis
July 16, 2021

Morning Bell 15 July

Paulina Peters
July 15, 2021

Morning Bell 14 July

Jessica Amir
July 14, 2021

Morning Bell 13 July

Jessica Amir
July 13, 2021