Skip to main content

Latest stock market podcasts

Morning Bell 2 September

Bell Direct
September 2, 2020

Records were smashed in the U.S. overnight for two key reasons: (1) U.S. factory activity in August saw its biggest expansion since November 2018 and (2) video conferencing company, Zoom, reported a 360% jump in revenue, pushing its shares up 41%. The S&P500 ended 0.7% higher, closing at brand new record, while the Nasdaq soared 1.4% also breaking its prior record.

Commodities:

  • Gold lifted by US$2 compared to yesterday, hitting US$1,979
  • Oil trades steady at US$42.76 after encouraging manufacturing numbers came through, however U.S. oil supply fell for the sixth week

What to watch today:

  1. Aussie share market should see a lift today, futures are suggesting at 0.4% gain
  2. China suspends barley imports from CBH, claiming there were pests in a shipment.
  3. Economic front: GDP data is out today, showing how much the economy shrank from April to June. Estimates suggest that GDP shrank 6% in the second quarter, which means we will officially enter a recession for the first time in 30 years.
  4. The Australian dollar took a breather but holds two-year high territory, 73.74 US cents as the U.S. dollar came back in favour.
  5. BHP listed in New York gained 3.1% overnight,  so you’d think the ASX listed BHP could follow.

As for Trading ideas:

  • Zip (ASX:Z1P) was downgraded to a sell by Citi, giving it a price target of $6.90. Yesterday Z1P fell 13% to $7.99. However its outperformed the market of late, rising over 35% in the last month. The entry of PayPal increases concerns over the medium-term – in particular, Zip’s acquisition of Quadpay could go head to head with PayPal’s pay in four. Hence Citi downgraded Zip to a sell.
  • Aristocrat Leisure (ASX:ALL) was reiterated as a UBS buy, while dropping its target to $29.60. The most upside for Aristocrat comes from online with 35% digital growth expected in the second half of the year.
  • Silver Lake Resources (ASX:SLR) has formed a bullish “continuation wedge” chart pattern according to Trading Central’s technical analysis. This indicates SLR shares could rise from yesterday’s close of $2.23 to $2.70 – $2.85 over the next 18 days according to standard principles of technical analysis. Macquarie has a $2.60 price target for SLR.

Morning Bell 28 July

Bell Direct
July 28, 2020

Morning Bell 27 July

Bell Direct
July 27, 2020

Weekly Wrap 24 July

Bell Direct
July 24, 2020

Morning Bell 24 July

Bell Direct
July 24, 2020

Morning Bell 23 July

Bell Direct
July 23, 2020

Morning Bell 22 July

Bell Direct
July 22, 2020

Morning Bell 21 July

Bell Direct
July 21, 2020

Morning Bell 20 July

Bell Direct
July 20, 2020

Weekly Wrap 17 July

Bell Direct
July 17, 2020

Morning Bell 17 July

Bell Direct
July 17, 2020

Morning Bell 16 July

Bell Direct
July 16, 2020