Morning Bell 25 September

Jessica Amir
September 25, 2020

The Aussie market is eyeing a slight gain of 0.12% at the open. Earlier this week, U.S. existing home sales grew to their highest level in 14 years, and overnight we learnt new home sales got a 4.8% lift, an unexpected rise, supported by record low interest rates. Overnight, U.S. investors bought back into equities, snapping up low hanging fruit. Apple and Microsoft shares rose 1% and 1.3%. The Nasdaq gained 0.4%, S&P500 up 0.3% and the Dow rose 0.2%. And with the risk on-sentiment returning investors sold down the USD, seeing it fall from an almost two-month high.

Commodities:

  • The oil price rose back above US$40.30
  • Gold¬†however lost 0.2% to US$1,873.

What to watch today?

  • The banks – given the Federal Treasurer is planning on scaping responsible lending laws in a bid to encourage loan growth to boost the economy. The legislation was introduced by the Rudd Labour government following the subprime loan crisis in America.

Trading ideas:

  • Brickworks (ASX:BKW) was reiterated by Citi, as buy with a higher $20.95 price target. Citi is bullish on the rise of industrial property demand given the shift to e-commerce. BKW was also reiterated as a UBS Buy given its financial results handed down yesterday were mainly in line with expectations.
  • De Gray Mining (ASX:DEG) was downgraded by Bell Potter from a speculative Buy with a $1.53 price target, implying 14% upside, to a HOLD.¬†The gold miner has new gold discovery in Western Australia and its drilling results have found four zones almost immediately adjacent to each other with potential to supply a large scale, base-load ore to a large processing plant.
  • Keep an eye on cyber security company Tesserent (ASX:TNT), and software management business, IntelliHR (ASX:IHR) as they are giving off bullish charting signals – according to Trading Central.

Weekly Wrap 7 May

Jessica Amir
May 7, 2021

Morning Bell 7 May

Sophia Mavridis
May 7, 2021

Morning Bell 6 May

Paulina Peters
May 6, 2021

Morning Bell 5 May

Jessica Amir
May 5, 2021

Morning Bell 4 May

Jessica Amir
May 4, 2021

Morning Bell 3 May

Jessica Amir
May 3, 2021

Weekly Wrap 30 April

Jessica Amir
April 30, 2021

Morning Bell 30 April

Sophia Mavridis
April 30, 2021

Morning Bell 29 April

Paulina Peters
April 29, 2021

Morning Bell 28 April

Jessica Amir
April 28, 2021

Morning Bell 27 April

Jessica Amir
April 27, 2021