Skip to main content

Morning Bell 8 September

Jessica Amir
September 8, 2020

U.S. and Canadian markets closed overnight for Labour Day, rendering a silent night. London’s market rose 2.4%, German and French markets followed off the back of economic cyclical stocks like autos leading the gains.

Commodities:

  • Gold steady at US$1,935
  • Oil fell further below US$40, losing over 5% in the last 2 sessions, now trading at US$39.07.
  • Copper trades at US$3.05, its highest since June of 2018, driven by Chinese demand.

The Australian Dollar:

  • The AUD tracks lower at 72.7 U.S. cents, holding a near two-year high.

What to watch today:

  • The Aussie share market is expected to rise for the second day, with the futures suggesting a 0.4% gain, or a lift of 25 points. Yesterday, the market rose 0.3%. Not enough to recover from the market’s fall last week, marking it’s third fall in 3 weeks.
  • The U.S. futures will be under scrutiny as they attempt to rebound from Thursday and Friday’s fall, in which the Nasdaq lost 5.3% – it’s biggest fall in 5 months.
  • Many companies are going into ex-dividend from here on in. Today, Austal (ASX:ASB) BlueScope (ASX:BSL), Jumbo Interactive (ASX:JIN), and Northern Star (ASX:NST) all go ex-dividend.
  • Business confidence numbers are out for the month of August, expected to remain very weak.

Trading ideas:

  • QBE (ASX:QBE), Australia’s second largest insurer, was reiterated as a Bell Potter buy with a $11.90 target.
  • Northern Star Resources (ASX:NST), Sandfire Resources (ASX:SFR), and Champion Iron (ASX:CIA) may be worth a look. Trading Central’s data identified all three of the stocks are showing bullish signals, indicating their prices may move higher off yesterday’s close, according to standard principles of technical analysis.

Morning Bell 19 June

Grady Wulff
June 19, 2023

Weekly Wrap 16 June

Grady Wulff
June 16, 2023

Morning Bell 15 June

Grady Wulff
June 15, 2023

Morning Bell 14 June

Grady Wulff
June 14, 2023

Morning Bell 13 June

Sophia Mavridis
June 13, 2023

Weekly Wrap 9 June

Sophia Mavridis
June 9, 2023

Morning Bell 8 June

Grady Wulff
June 8, 2023

Morning Bell 7 June

Grady Wulff
June 7, 2023

Morning Bell 6 June

Sophia Mavridis
June 6, 2023

Morning Bell 5 June

Grady Wulff
June 5, 2023

Weekly Wrap 2 June

Grady Wulff
June 2, 2023

Morning Bell 2 June

Sophia Mavridis
June 2, 2023