Skip to main content

Morning Bell 20 August

Bell Direct
August 20, 2024

Wall St closed higher overnight as the Nasdaq rallies for its 8th straight session. The Dow Jones closed over half a percent higher, the S&P 500 closed 1% in the green and the tech-heavy Nasdaq rallied 1.39% overnight.

Over in Europe, markets closed higher on Monday following the global market rally last week. The STOXX600 ended the trading session 0.64% higher with all sector ending in positive territory. Gains were led by mining and retail stocks, up 1.98% and 1.57% respectively. Germany’s DAX closed over half a percent in the green, the French CAC added 0.7% and over in the UK the FTSE100 gained 0.55%.

Locally yesterday, the ASX200 ended Monday’s trading session 0.12% higher. Gains were led by the utilities and financial sectors which gained 1.67%and 0.82% respectively. This was offset by the consumer staples sector which fell 0.83% by the closing bell.

What to watch today:

  • The Australian share market is set to open higher, with the SPI futures suggesting a rise of 0.45% at market open this morning.
  • On the commodity front this morning,
    • Oil is trading 4.75% lower at 73 US dollars a barrel as ongoing cease-fire talks in Gaza could ease geopolitical tensions, hence reduce the risk premium on oil.
    • Gold is trading 0.16% lower at 2503 US dollars an ounce and iron ore is trading 0.75% lower at 97 US dollars and 81 cents a tonne.

Trading Idea:

  • Bell Potter maintains a buy rating on Adacel Technologies (ASX:ADA) and has a 12-month price target of $0.65. The buy rating is maintained by Bell Potter following the release of results where normalised FY24 EBITDA of $1.1m US dollars was better than Bell Potter’s forecast of $900,000 US dollars and the downgraded guidance given in July. There was a reduction in the earnings forecast which has caused a 13% reduction in the price target, however it is still a 15% premium to the share price, hence the buy rating is maintained.

Morning Bell 8 October

Grady Wulff
October 8, 2024

Weekly Wrap 4 October

Bell Direct
October 4, 2024

Morning Bell 4 October

Bell Direct
October 4, 2024

Morning Bell 3 October

Bell Direct
October 3, 2024

Morning Bell 2 October

Bell Direct
October 2, 2024

Morning Bell 1 October

Bell Direct
October 1, 2024

Morning Bell 30 September

Bell Direct
September 30, 2024

Weekly Wrap 27 September

Bell Direct
September 27, 2024

Morning Bell 26 September

Bell Direct
September 26, 2024

Morning Bell 25 September

Bell Direct
September 25, 2024

Morning Bell 24 September

Bell Direct
September 24, 2024

Morning Bell 23 September

Bell Direct
September 23, 2024