The tech heavy was Nasdaq down around 1%, after tech stocks came under pressure following President Joe Biden proposing a minimum corporate tax rate of 15%, which would lift the overall tax rate to 28%. This saw Tesla shares fall 5.3%.
Despite all three US benchmarks closing lower, the Aussie share market is set to open higher, with the futures suggesting the market will rise 0.03% to 7,265 points.
What to watch today:
- Prime Minister Scott Morrison has announced a Natural Disaster Payment scheme that will be applied to lockdowns that have lasted longer than 7 days.
- Moving to commodities, the Oil price holds steady around US$69 a barrel, after two straight days of gains. The Gold price retreated around 2%. Silver and Platinum slipped around 4% each. While the Iron Ore price continues to trade higher, rising about 1.5% and is up about 33% YTD.
- The most traded stocks by Bell Direct clients yesterday were Australia and New Zealand Bank (ASX:ANZ), National Australia Bank (ASX:NAB) and VanEck Vectors Australian Property ETF (ASX:MVA).
- Bell Potter have reiterated their BUY recommendation for Access Innovation (ASX:AIM), with an unchanged price target at $1.40. AIM announced a 3-year extension of their live captioning contract with Sky News and Bell Potter’s optimistic view on is based on its ability to monetise its industry leading platform.
- Bell Potter have downgraded their recommendation on Telecommunication Services business Uniti Group (ASX:UWL) from a BUY to a HOLD, with an increased price target to $3.20.
- SmartPay Holdings (ASX:SMP), Lendlease Group (ASX:LLC) and Afterpay (ASX:APT) are all giving off bullish charting signals, according to Trading Central.