The ASX200 is eyeing a gain of 0.5% at the open and is now 47% up from its COVID-19 low.
The UK began to rollout Pfizer’s COVID-19 vaccine and the U.S. is potentially days away from emergency use approval, with plans to roll out the vaccine this month.
What to watch today:
- Westpac’s Consumer confidence numbers are out today and are likely to be positive, given the ANZ survey found consumer confidence has recovered to where it was last year, rising 1.7% to a yearly high.
- Business confidence numbers released yesterday soared to their highest level in two years. Collectively, this means businesses and consumers are likely to continue to spend and borrow, which supports share price and earnings growth in retail, online shopping, banking and finance stocks.
Local trading ideas:
- G8 Education (ASX:GEM) was reiterated as a UBS Buy with an increased $1.52 price target.
- Citi downgraded Champion Iron (ASX:CIA) to a Sell after it gained over 280% since March.
- Citi called out its top mining stock picks as Rio Tinto (ASX:RIO), South32 (ASX:S32) and Alumina (ASX:AWC).
- Clean TeQ Holdings (ASX:CLQ), Althea (ASX:AGH) and Gascoyne Resources (ASX:GCY) are all showing bullish charting signals according to Trading Central.