Morning Bell 3 August

Jessica Amir
August 3, 2021

On Monday the Aussie share market rose 1.3%, supported by gains in Afterpay (ASX:APT) and Pilbara Minerals (ASX:PLS).

This morning, the futures are suggesting the market will fall 0.3%, peeling back from yesterday’s record high.

What to watch today:

  • The iron ore spot price fell 3% and the iron ore seaborn price fell 14%, to its lowest level since April. This is due to China’s unexpected commitment to cutting steel production.
  • The copper price fell 1%, while the oil price rose 0.3% to US$71.50.
  • The RBA meet today, expected to hold rates at 0.1%. The focus will be on increasing the amount of bonds the RBA buys. Currently, the RBA is buying $100 billion bonds, with this program ending in September. After September, the RBA planned to decrease the amount of bonds bought each week from $5 billion to $4 billion. This may change given the current restrictions.
  • Credit Corp Group (ASX:CCP) are set to release their earnings today.

Trading Ideas:

  • Copper and gold producer, Aeris Resources (ASX:AIS) is a Bell Potter Speculative BUY stock, with a new price target of $25.50, implying 15% share price growth in a year.
  • Zip (ASX:Z1P), Seven West Media (ASX:SWM), and Westgold Resources (ASX:WGX) are all giving off bullish charting signals, 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