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Morning Bell 21 January

Jessica Amir
January 21, 2021

The ASX200 is eyeing a lift of 0.7% at the open.

Markets were bullish overnight as Joe Biden was sworn in as 46th President of the United States with a pledge to keep taxes low until after the pandemic. This could support the US economy and stocks.

What to watch today:

  • The UAE signed a deal to buy 18 drones from the US. So keep an eye on Orbital Corporation (ASX:OEC), Drone Shield (ASX:DRO), Electro Optic Systems (ASX:EOS) and Xtech (ASX:XTE).
  • Employment numbers for December are out at 11:30am. 50,000 jobs are expected to have been added last month and the unemployment is tipped to fall to 6.7%.

Local trading ideas:

  • Accent (ASX:AX1) had its buy rating upgraded by Bell Potter with a new $2.65 target.
  • Pantoro Limited (ASX:PNR) had its buy rating upgraded by Bell Potter with a new $0.28 target.
  • Nickel Mines (ASX:NIC), Centuria Capital (ASX:CNI) and Beacon Lighting (ASX:BLX) are giving off bullish charting signals according to Trading Central.

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