Skip to main content

Morning Bell 14 October

Sophia Mavridis
October 14, 2022

In New York overnight, we saw quite a major reversal in intraday trading. The Dow Jones rose 2.8% or more than 800 points, after being down more than 500 points earlier in the day. It was an impressive rebound, following US inflation data coming in; CPI jumped to a 40-year high and higher than expected, while the country’s headline inflation declined to 8.2%, in line with market expectations. This saw stocks fall to their lowest levels since 2020, before rebounding. The S&P500 posted its widest trading range since March 2020, and closed 2.6% higher, while the Nasdaq closed 2.2% higher. It was the fifth largest intraday reversal from a low in the history of the S&P500, and the fourth largest for the Nasdaq.

What to watch today:

  • The Australian market is set jump 1.66% at the open this morning, following Wall Street’s strong lead.
  • In commodities:
    • The price is oil has jumped over 2%, halting three sessions of declines.
    • Gold has dropped to an over two-week low as the US dollar jumped.
    • Iron ore has fallen more than 1%, the lowest in nearly 11 months as the looming threats of fresh lockdowns in China’s major cities kept demand for industrial inputs low.
  • Harvey Norman (ASX:HVN) is set to go ex-dividend today.

Trading Ideas:

  • Bell Potter maintain a Buy recommendation on DroneShield (ASX:DRO), after the company released September Quarter results in-line with expectations. Their price target is $0.24 and at its current share price of $0.17, this implies 40% share price growth in a year.
  • And Trading central have identified a bullish signal in West African Resources (ASX:WAF) indicating that the stock price may rise from the close of $1.06 to the range of $1.20 to $1.24 over 20 days according to the standard principles of technical analysis.

Weekly Wrap 21 April

Grady Wulff
April 21, 2023

Morning Bell 21 April

Sophia Mavridis
April 21, 2023

Morning Bell 20 April

Grady Wulff
April 20, 2023

Morning Bell 19 April

Grady Wulff
April 19, 2023

Morning Bell 18 April

Sophia Mavridis
April 18, 2023

Morning Bell 17 April

Grady Wulff
April 17, 2023

Weekly Wrap 14 April

Grady Wulff
April 14, 2023

Morning Bell 14 April

Sophia Mavridis
April 14, 2023

Morning Bell 13 April

Grady Wulff
April 13, 2023

Morning Bell 12 April

Grady Wulff
April 12, 2023

Morning Bell 11 April

Sophia Mavridis
April 11, 2023

Morning Bell 6 April

Sophia Mavridis
April 6, 2023