Morning Bell 29 July

Paulina Peters
July 29, 2021

Overnight the S&P500 closed flat after the Fed kept its easy-money policies. The Dow Jones closed about 0.36% lower, while the Nasdaq closed up 0.7%.

Following the mixed session on Wall Street, the Aussie share market is set to bounce back after yesterday’s fall of 0.7%, to open 0.3% higher to 7,301 points.

Stay tuned, later today we will be releasing a full report on Rio Tinto (ASX:RIO)’s results.

What to watch today:

  • On the COVID-19 front, NSW Premier Gladys Berejiklian extended the stay-at-home orders for another four weeks until August 28. Amid the lockdown extension news, Webjet (ASX:WEB), Qantas (ASX:QAN), Sydney Airport (ASX:SYD) and Flight Centre (ASX:FLT) all closed lower yesterday. However, keep in mind, travel companies are likely to go into recovery once restrictions ease.
  • Today, Q2 import and export prices are set to be released at 11:30am AEST.
  • Companies reporting today: Janus Henderson Group (ASX:JHG) is set to report its second quarter 2021 earnings and Fortescue Metals (FMG) will report its fourth quarter financial year production.
  • Unibail-Rodamco-Westfield (ASX:URW) reported its half year results, which saw its net rental income dropped 26.2% compared with first half 2020 results.
  • The oil price lifted about 1% toward the US$73 a barrel mark, after US inventories declined.
  • The gold price lifted about 0.48%, shaking off initial declines following Powell flagging lingering risks to the US economy from the delta variant.
  • Silver is trading 1.17% higher, while copper was down 1.47%, and the iron ore price traded down about 0.3% to US$214.

Trading ideas:

  • After reporting a better-than-expected second quarter, Bell Potter has once again maintained its BUY recommendation on location-based technology company Life360 (ASX:360) and increased its price target to $9.50 (previously $9.25). Life360 closed 1% higher yesterday to $8.00, which implies about 19% share price growth.
  • Bell Potter also maintained its BUY recommendation on software company Nitro Software (ASX:NTO) with an increased price target of $4.00 (previously $3.75). Nitro closed about 5% lower yesterday to $3.27, which implies about 22% share price growth.
  • Bullish charting signals have been identified in Raiz Invest (ASX:RZI), Tinybeans Group (ASX:TNY) and Sunrise Energy Metals (ASX:SRL) according to Trading Central.

Weekly Wrap 3 December

Sophia Mavridis
December 3, 2021

Morning Bell 2 December

Paulina Peters
December 2, 2021

Morning Bell 1 December

Sophia Mavridis
December 1, 2021

Morning Bell 30 November

Paulina Peters
November 30, 2021

Morning Bell 29 November

Sophia Mavridis
November 29, 2021

Weekly Wrap 26 November

Sophia Mavridis
November 26, 2021

Morning Bell 25 November

Paulina Peters
November 25, 2021

Morning Bell 24 November

Sophia Mavridis
November 24, 2021

Morning Bell 23 November

Paulina Peters
November 23, 2021

Morning Bell 22 November

Sophia Mavridis
November 22, 2021

Weekly Wrap 19 November

Sophia Mavridis
November 19, 2021

Morning Bell 18 November

Paulina Peters
November 18, 2021