Skip to main content

Morning Bell 23 March

Jessica Amir
March 23, 2021

Overnight US tech stocks marched forward with the Nasdaq gaining 1.2% while the broader S&P500 followed up 0.7%. Meanwhile, the benchmark 10-year bond yield fell back to 1.695%. Banks continued to fall off their recent highs, after the Fed decided banks should be holding more capital now.

What to watch today:

  • Today is the one year anniversary of the COVID-19 bottom. Since then the market has gained 48%. Fundamentals and technicals suggest that the market will continue to rise over the long term.
  • Today the focus will again be on two key areas – rebound tech stocks and company news as there is no economic news to go by.
  • The oil price attempted to stabilise, lifting  0.1%
  • Copper stocks should have a good day after copper rose 0.7%
  • Yesterday, the most traded stocks on our active trader desk, Bell Direct Advantage were: Freedom Foods (ASX:FNP) which fell 83%, Oneview Healthcare (ASX:ONE) which gained 9%, and 88 Energy (ASX:88E) which rose 35%.

Trading ideas:

  • Bell Potter initiated coverage of EROAD (ASX:ERD) as a BUY with a bullish $4.87 target
  • Citi increased Beach Energy’s (ASX:BPT) price target to $1.81, but maintained the stock as a hold
  • Praemium (ASX:PPS), Bendigo and Adelaide Bank (ASX:BEN) and Washington H. Soul Pattinson (ASX:SOL) are all giving off bullish charting signals according to Trading Central.

Weekly Wrap 16 February

Sophia Mavridis
February 16, 2024

Morning Bell 16 February

Sam Kanaan
February 16, 2024

Morning Bell 15 February

Sam Kanaan
February 15, 2024

Morning Bell 14 February

Sam Kanaan
February 14, 2024

Morning Bell 13 February

Grady Wulff
February 13, 2024

Morning Bell 12 February

Grady Wulff
February 12, 2024

Weekly Wrap 9 February

Grady Wulff
February 9, 2024

Morning Bell 9 February

Sam Kanaan
February 9, 2024

Morning Bell 8 February

Sam Kanaan
February 8, 2024