Skip to main content

Morning Bell 2 March

Jessica Amir
March 2, 2021

Almost in a reverse of what we’ve seen over the last week, the Nasdaq surged 2.9% and the S&P500 rose 2.4%. Investors bought heavily into big tech giants and economic recovery stocks, and sold down on bonds. So long-term interest rates have fallen and importantly they’ve also stabilised, proving the risk on mood is back.

The futures are suggesting the Aussie share market will lift 0.7%, which will be a nice addition to yesterday’s 1.7% push up.

What to watch today:

  • Tech stocks will see a lot of action today – after pulling back 13% last week.
  • Agricultural stocks like Elders (ASX:ELD), Greenlane Renewables (ASX:GRN), Nufarm (ASX:NUF) and Rural Funds Group (ASX:RRF), as the Ag-body ABARES is forecasting the sector will recover $66b of their produce this year.
  • Aged care companies like Estia (ASX:EHE) and Regis (ASX:REG) who are likely to receive an extra $452m in funding in the wake of the Aged Care Royal Commission.
  • Building permits are out today for Jan – the market expects permits to have fallen 3% in Jan.
  • The RBA meets today – all eyes will be on stimulus – as in how much more bonds will be bought to keep the AUD low.

Trading ideas:

  • Atomo Diagnostics (ASX:AT1) was initiated as a Bell Potter speculative Buy with a $0.60 target, implying 155% upside.
  • UBS increased its Buy recommendations on Nufarm (ASX:NUF) with a $5.70 price target.
  • BlueScope Steel (ASX:BSL), Straker Translation (ASX:STG) and OFX Group (ASX:OFX) are all giving off bullish charting signals according to Trading Central.

Morning Bell 18 February

Jessica Amir
February 18, 2020

Morning Bell 17 February

Paulina Peters
February 17, 2020

Morning Bell 14 February

Jessica Amir
February 14, 2020

Morning Bell 11 February

Jessica Amir
February 11, 2020

Morning Bell 10 February

Jessica Amir
February 10, 2020

Morning Bell 7 February

Jessica Amir
February 7, 2020

Reporting season: Mirvac results

Jessica Amir
February 6, 2020

Morning Bell 6 February

Jessica Amir
February 6, 2020