The Aussie share market hit a record high last Friday closing at 7,179 points, beating the record set back in February 2020.
Today, the Aussie share market is set to follow Wall Street’s lead with the futures suggesting the market will lift 0.08% to 7,181. Melbourne’s virus outbreak could cast a shadow however.
What to watch:
- Economic news out this week: RBA meeting tomorrow, economic growth for the quarter will be released on Wednesday and on Thursday the balance of trade, that’s Australian imports vs. exports data is out for April.
- The most traded stocks by Bell Direct clients last Friday were: TechnologyOne (ASX:TNE), Imugene (ASX:IMU) and Rio Tinto (ASX:RIO).
- Oil prices fell slightly on Friday, but closed higher for the week following strong US economic data and expectations of a demand rebound.
- The Gold price rose 0.38%, popping above US$1,900 per ounce. This comes as US consumer prices surged in April and boosted its appeal as an inflation hedge.
- Bell Potter have reiterated their BUY recommendation on funeral homes and cemetery operator InvoCare (ASX:IVC) with a reduced price target of $12.20 (previously $12.80). IVC closed about 3% higher on Friday to $10.55, which implies 16% share price growth.
- Bell Potter has maintained their BUY recommendation on integrated poultry producer Ingham’s Group (ASX:ING), with a price target of $4.30.
- Kina Securities (ASX:KSL), Premier Investments (ASX:PMV) and Brainchip (ASX:BRN) are all giving off bullish charting signals according to Trading Central.