This week, we delve into Bell Potter's forecast for interest rate reductions, along with their top domestic consumer stock selections, given the recent decline in inflation and rental growth.In this week’s wrap, Sophia covers:(0:28): what the latest CPI reading means for markets(0:59): factors contributing to rental inflation(1:54): Bell Potter’s consumer stock picks(3:05): how the ASX200 performed this week so far(4:04): the most traded stocks by Bell Direct clients(4:38): economic news items to watch out for.

Wall St closed lower overnight as higher treasury yields weighed on market sentiment. The Dow Jones had its worst day since September falling nearly 1%, the S&P 500 dropped 0.92% and the tech-heavy Nasdaq lost 1.6%.Over in Europe, markets followed the US and ended Wednesday’s trading session in the red. The STOXX600 closed 0.3% lower with the majority of sectors ending in negative territory. Germany’s DAX fell 0.23%, the French CAC lost half a percent and over in the UK, the FTSE100 closed 0.58% lower.Locally yesterday, the ASX200 ended Wednesdays session 0.13% higher, with most major sectors ending in the green. Gains were led by the consumer staples and consumer discretionary sectors which rose 1.33% and 0.44% respectively. This was offset by the information technology sector which fell nearly 1%.What to watch today:The Australian share market is set to open lower, with the SPI futures suggesting a fall of 0.19% at market open this morning.On the commodity front this morning, Oil is trading 0.96% lower at 71 US dollars a barrel, gold is trading 1.14% lower at 2715 US dollars an ounce and iron ore is trading 0.28% lower at 104 US dollars and 94 cents a tonne.Trading Idea:Bell Potter maintains a buy rating on Boss Energy (ASX:BOE) and has a current share price of $3.60. The 12-month price target of $5.70 indicates a 58% share price growth in a year, hence the buy rating is maintained.

Over in the US on Tuesday, rising bond yields are pressured equities for a second session this week. The US 10-Year Treasury note yield briefly topped 4.2% for the first time in months before pulling back. The Dow Jones fell 0.02%, the S&P 500 lost 0.05% lower but the tech heavy Nasdaq ended the day up 0.18%.In Europe overnight, markets closed lower as investors assessed key corporate earnings results. The STOXX 600 fell 0.2%, Germany’s DAX also lost 0.2%, the French CAC fell 0.01% and, in the UK, the FTSE100 ended the day down 0.14%.Across the Asia region on Tuesday, markets closed mostly lower in the region tracking global market sell-offs early in the week. China’s CSI index bucked the sea of red to rise 0.57% on Tuesday while South Korea’s Kospi Index fell 1.31%, and Japan’s Nikkei lost 1.39%. Hyundai Motor shares debuted on India’s stock exchange on Tuesday with a record IPO but shares ended the day down 7%.The local market started the week higher before closing 1.66% lower on Tuesday in line with the Wall Street’s pullback on Monday. With markets now factoring the need for a less aggressive rate cut strategy out of the US as inflation eases and the economy remains resilient, investors are now questioning how much steam the local and global market rally has left.Mineral Resources and WiseTech Global have been under pressure this week amid news and respective investigations into those at the helm of the mining and logistics technology company alike.Audinate Group fell over 6% on Tuesday after the media software provider released a quarterly update outlining weak performance in a challenging operating environment was the key reason for full-year gross profit missing the target.Toll roads operator Transurban also fell almost 2% yesterday despite reaffirming FY25 distribution guidance of 65cps and reported growth in traffic across its key markets aside from Melbourne.One element of positivity in the Aussie market yesterday was Australian consumer confidence jumping to its highest level since January last year last week with a rise to 87.5 points, or a 4.1 point rise as the outlook for inflation eases and consumer sentiment was boosted by strong Australian jobs data also released last week.Wine exports from Australia also climbed 34% to $2.39bn in the 12-months to the end of September which is a welcomed boost for listed companies like Treasury Wine Estates which has faced tougher operating conditions prior to China lifting its tariffs on Aussie wine exports recently.What to watch today:Ahead of the midweek trading session here in Australia the SPI futures are expecting the ASX to open the day up 0.28% despite the pullback on Wall St on Tuesday.On the commodities front this morning oil is trading 2.26% higher at US$71.63/barrel, gold is up 0.92% at US$2746/ounce, and iron ore is down 0.13% at US$105.23/tonne.The Aussie dollar has weakened against the greenback overnight to buy US$0.66, 101.03 Japanese Yen, 51.39 British Pence and NZ$1.11.Trading Ideas:Bell Potter has decreased the 12-month price target on Select Harvests (ASX:SHV) from $4.95 to $4.60 and maintain a buy rating on the almond producer following a disappointing FY24 update including a capital raising and the guidance for FY24 underlying EBIT of $17-19m which is lower than Bell Potter was expecting. Bell Potter maintains the buy rating due to recent strengthening in almond prices driving upside potential.And Trading Central has identified a bearish signal on The Star Entertainment Group (ASX:SGR) following the formation of a pattern over a period of 17-days which is roughly the same amount of time the share price may fall from the close of 27cps to the range of 15 cps to 17 cps according to standard principles of technical analysis.

Wall St closed mixed overnight as the Dow snapped a three-day winning streak losing 0.8%. The S&P 500 fell 0.18%, whilst the tech-heavy Nasdaq ended Monday’s trading session 0.27% in the green.Over in Europe, markets closed lower as investors monitor heightened Middle Eastern tensions. The STOXX600 closed 0.7% lower with nearly all major sectors ending the day negatively. Losses were led by insurance stocks which fell 1.1%, whilst oil & gas stocks rose 0.6%.Germany’s DAX and the French CAC both lost 1%, whilst over in the UK the FTSE 100 dropped nearly half a percent.Locally yesterday, the ASX200 ended Monday’s trading session 0.74% higher with all but one major sector ending the day in the green. Gains were led by the materials and energy sectors which closed 1.44% and 1.25% higher respectively. This was offset by the information technology sector which fell 2.97%.What to watch today:The Australian share market is set to open lower, with the SPI futures suggesting a fall of 0.81% at market open this morning.On the commodities front this morning,Oil is trading 1.67% higher at 70 US dollars and 37 cents a barrel as rising Middle Eastern tensions threaten supply disruptions.Gold is trading 0.08% lower at 2719 US dollars an ounce and iron ore is trading flat at 105 US dollars and 37 cents a tonne.Trading Ideas:Bell Potter maintains a buy rating on Beach Energy (ASX:BPT) and has a current share price of $1.25. The 12-month price target of $1.50 indicates a share price growth of 20%, hence the buy rating is maintained.And Trading Central has identified a bearish signal on Ingenia Communities Group (ASX:INA), indicating that the share price may fall from the close of $4.93 to the range of $4.57-$4.63, on a pattern formed over 10 days, according to the standard principles of technical analysis.

6-straight weeks of gains were sealed across the major averages in New York on Friday with both the Dow and S&P500 setting fresh records at the closing bell.Over the week, the Dow and S&P500 gained 0.96% respectively, while the Nasdaq added 0.8%, with Q3 earnings results being the driver of gains throughout the last trading week.Netflix shares rose 11% on Friday after the streaming giant beat Wall St estimates for earnings and revenues for Q3 and reported a 35% jump in ad-tier memberships on the prior quarter. Of the more than 70 companies that have reported from the S&P500 so far, 75% have beaten earnings expectations according to FactSet.The small cap space once again outshone the major players last week with the Russell 2000 index ending the week 2% higher. Over in Europe on Friday markets closed mostly higher marking a second straight week of gains boosted by a rise in luxury brands. The STOXX600 rose 0.21%, Germany’s DAX added 0.38%, the French CAC gained 0.39% and, in the UK, the FTSE100 ended the day down 0.32%.Gucci owner Kering rose 3.5% on Friday while Burberry rose 0.5% as investors saw Chinese stimulus as a boost for demand outlook for luxury European brands in China.Across the Asia markets on Friday, markets rebounded to close higher as stronger-than-expected GDP data in China boosted investor optimism. China’s GDP grew 4.6% in Q3 compared to the same period a year earlier which beat economists’ expectations but was a slight fall from the 4.7% expansion reported in Q2.Retail sales in China also beat expectations for September with a rise to 3.2% YoY while China’s industrial output also grew faster than expected at 5.4%. China’s CSI index rose 3.62% on Friday, Japan’s Nikkei gained 0.2%, South Korea’s Kospi index fell 0.6%, and Hong Kong’s Hang Seng rose 3.61%.Locally on Friday, the ASX200 fell 0.87% as a sharp sell off in utilities stocks weighed on the market, while every sector closed the day in the red. The Aussie sell-off was on the back of China’s economic data out on Thursday indicating worsening economic slow down out of the world’s second largest economy, despite stronger data out on Friday.Flight Centre tanked 20% on Friday after the company released a trading update outlining a profit downgrade was imminent.What to watch today:Ahead of Monday’s Trading Session the SPI futures are anticipating the ASX to open the day up 0.53% on the back of global market strength on Friday.On the commodities front this morning, oil is trading 2.05% lower at US$69.22/barrel, gold is up 1.02% at US$2721/ounce, and iron ore is flat at US$105.37/tonne.The Aussie dollar has slightly weakened against the greenback to buy US$0.67, 100.34 Japanese Yen, 51.41 British Pence and NZ$1.10.Trading Ideas:Bell Potter has downgraded the rating on Lynas Rare Earths (ASX:LYC) from a buy to a hold rating and have reduced the 12-month price target on the company from $8.30 to $8 heading into the release of the company’s quarterly production update. The analyst has estimated production of NdPr to fall 5% QoQ and revenue of $121m down 12% QoQ after management guided to a slow start to FY25 amid the planned shut down towards the end of CY24 and delay in the Mt Weld expansion.And Trading Central has identified a bearish signal on Paragon Care (ASX:PGC) following the formation of a pattern over a period of 16-days which is roughly the same amount of time the share price may fall from the close of 47cps to the range of 38-40cps according to standard principles of technical analysis.

The ASX200 index rose 1.72% this week so far (Mon – Thurs), boosted by a strong 4% gain in the financial sector. Economic data, US earnings, and commodity price volatility influenced market movements.In this week’s wrap, Grady covers: (0:20): the highlights in US earnings results released this week(2:03): key economic data out in China (3:46): the best performers on the ASX200 this week(4:42): the most traded stocks & ETFs by Bell Direct clients (5:10): economic news items to watch out for next week. 

Wall St closed higher overnight as the Dow Jones rose to a record close following a sell-off in its previous session, rising 0.79%. The S&P 500 rose by 0.47% and the tech-heavy Nasdaq jumped by 0.27%.In terms of US stocks, Morgan Stanley gained 6.5% following strong third-quarter earnings which toppled Wall Street expectations.Over in Europe, markets closed lower overnight with chips stocks and luxury goods leading losses following sales warnings. The STOXX600 fell 0.15% with half of the major sectors ending Wednesday’s trading session in negative territory. Germany’s Dax fell 0.27%, the French CAC lost 0.4% and over in the UK, the FTSE100 gained nearly 1% overnight.Locally yesterday, the ASX200 fell by 0.4% with all but one major sector closing in the red. Losses were led by the information technology and utilities sectors which dropped 1.35% and 1.21% respectively. This was offset by the financial sector which gained 0.27% 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 0.72% at market open this morning.On the commodities front this morning,Oil is trading 0.12% higher at 70 US dollars and 67 cents a barrel following continued uncertainty over the war in the Middle East.Gold is trading half a percent higher at 2673 US dollars an ounce and iron ore is trading 0.45% lower at 106 US dollars and 63 cents a tonne.Trading Ideas:Bell Potter maintains a buy rating on Catalyst Metals (ASX:CYL) and has a 12-month price target of $3.06. The 12-month price target of $4.30, indicates a share price growth of 40.5%, hence the buy rating is maintained.And Trading Central has identified a bullish signal in Kina Securities (ASX:KSL), indicating that the stock price may rise from the close of $1.04 to the range of $1.08-$1.10, on a pattern formed over 16 days, according to the standard principles of technical analysis.

Wall Streets’ green run ended on Tuesday with the major averages move away from record territory as investors digest some key Q3 earnings results. The Dow Jones fell 0.75%, the S&P500 lost 0.76%, and the tech-heavy Nasdaq fell 1.01%. UnitedHealth fell 8.1% after the company trimmed full-year earnings outlook, while Bank of America rallied 2% on better-than-expected results.Citi shares fell over 4% on Tuesday even after the big bank beat Wall St expectations for Q3, and LVMH shares fell nearly 7% to their lowest level since October 2022 after the luxury fashion house posted disappointing results.Over in Europe overnight, markets closed lower as investors responded to key earnings updates and monitored a sharp fall in oil prices. The STOXX 600 fell 0.7%, Germany’s DAX closed down 0.11%, the French CAC lost 1.05% and, in the UK, the FTSE100 ended the day down 0.52%.Dutch semiconductor maker ASML tumbled over 15% after the company said in its earnings report that it expects net sale for 2025 to come in between 30 billion euros and 35 billion euros, at the lower half of the range it had previously provided.Across the Asia region, markets closed mostly lower as China’s weak trade data weighed on investor sentiment in the region. China’s CSI index lost 2.66% on Tuesday after the nation’s September trade data showed exports rose 2.4% YoY and imports added just 0.3%, with both metrics sharply missing expectations. Hong Kong’s Hang Seng lost 3.67% on Tuesday, but Japan’s Nikkei rose 0.77%.The local market extended this week’s rally into Tuesday’s session with a gain of 0.8% at the closing bell after hitting fresh intraday highs, buoyed by the banks with CBA rising 1.6%, Westpac adding 1.3%, ANZ rising 0.8% and NAB gaining 1.3%.Tyro Payments tanked over 15% on Tuesday on news that the federal government of Australia is planning to crackdown on credit card surcharges by 2026, with the government even saying it will go as far as banning the practice to give consumers and small businesses a fair go. This move would impact Tyro Payments among other payment service providers that rely on such fees for earnings.Hub24 rose 4.3% on Tuesday after posting record quarterly net inflows of $4bn announced in the company’s latest trading update while total funds under administration hit $113bn in the quarter.What to watch today:Ahead of the midweek trading session here in Australia the SPI futures are anticipating the ASX to open the day down 0.38% on the back of Wall Street’s turbulence overnight.On the commodities front this morning, oil has tumbled 4.68% to trade at US$70.40/barrel, gold is up 0.55% at US$2663.90/ounce and iron ore is up 0.63% at US$107.11/tonne.The Aussie dollar has weakened overnight to buy US$0.67, 100.15 Japanese Yen, 51.27 British Pence and NZ$1.10.Trading Ideas:Bell Potter has downgraded the rating on The a2 Milk Company (ASX:A2M) from a hold to a sell and have slightly reduced the 12-month price target on the company from $6.20 to $6.10 in-light of a recent share price gain on expectations of a rebound in demand in China. The analyst sees A2M trading at 17.5x FY25 expected EBITDA as not supported by any fundamental changes and sees better value elsewhere, especially given the rally puts A2M trading at a 51% premium to Dairy FMCG plays.And Trading Central has identified a bullish signal on Accent Group (ASX:AX1) following the formation of a pattern over a period of 38-days which is roughly the same amount of time the share price may rise from the close of $2.44 to the range of $2.82 to $2.90 according to standard principles of technical analysis.

Wall Street has extended on its record finish to trade higher yet again overnight. The Dow Jones jumped 0.47%, the S&P 500 gained 0.77% and the tech-heavy Nasdaq rose by 0.87%.So far, this third quarter earnings season, the 30 companies on the S&P500 that have reported have beat earnings expectations by about 5% on average which is better than the 3% beat this time last quarter.Over in Europe, markets closed higher following market rallies in Wall St overnight. The STOXX600 gained half a percent by the end of the trading day with tech stocks jumping 1.7%, whilst travel and leisure stocks fell 0.8%. Germany’s DAX rose 0.69%, the French CAC gained 0.32% and over in the UK the FTSE100 ended Monday’s trading session 0.47% in the green.Locally yesterday, the ASX200 rose 0.47% despite the majority of sectors finishing in negative territory. Gains were led by the material and health sectors which rose by 1.3% and 0.89% respectively. This was offset by the energy sector which fell by 1.26%.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 commodities front this morning, At the time of recording, oil is trading 4.5% lower to 72 US dollars and 17 cents a barrel following concerns over China’s weakening economy after China’s Finance Ministry briefing on Saturday, which lacked new major financial stimulus. Gold is trading 0.39% lower at 2646 US dollars an ounce and iron ore is trading 0.6% higher at 106 US dollars and 44 cents a tonne.Trading Ideas:Bell Potter maintains a buy rating on Bega Cheese (ASX:BGA) and has a current share price of $5.25. The 12-month price target of $6.45 represents a share price growth of 22.9% over the next 12-months, hence the buy rating is maintained.And Trading Central has identified a bullish signal on Perentin Ltd (ASX:PRN), indicating that the stock price may rise from the close of $1.05 to the range of $1.18-$1.22, on a pattern formed over 71 days, according to the standard principles of technical analysis.

Wall Street closed in record territory on Friday as the big banks had a very strong start to the third-quarter earnings season. The Dow Jones added 0.97% to a fresh record 42,863.86 on Friday while the S&P500 gained 0.65% to a fresh record 5815.03 and the tech-heavy Nasdaq rose 0.33%, just 2% below its record high.JP Morgan Chase rose 4.4% after topping profit and revenue expectations for Q3 while Wells Fargo rose 5.6% on stronger-than-expected profits.Over in Europe markets closed higher on Friday as investors assessed key UK growth figures and looked ahead to further key economic data out in the region soon. The STOXX 600 rose 0.53%, Germany’s DAX added 0.85%, the French CAC rose 0.48%, and, in the UK, the FTSE100 ended the day up 0.19%. The UK economy returned to GDP expansion in August with Britain’s GDP rising 0.2% in the month following flat readings in June and July.Across the Asia region on Friday it was a mixed close as China’s stimulus-fuelled rally lost steam. China’s CSI index lost 2.77%, South Korea’s Kospi Index fell slightly despite the Bank of Korea cutting the benchmark interest rate by 25-basis points in the first rate cut since 2020. Japan’s Nikkei gained 0.57% on Friday and Hong Kong’s Hang Seng was close for a public holiday.The ASX closed 0.1% lower on Friday as a broad sell off across 6 of the 11 sectors weighed on the key index.Energy stocks rose on Friday on the oil price rebound – which has been the story of the last month with high volatility based on geopolitical tensions escalating and easing.Capital raisings have been on the rise recently as the impacts of high interest rates and subdued demand finally hit company balance sheets. On Friday we saw Appen return to profitability but also announce a capital raise to expand into AI, while Dubber also announced a $25m capital raise to ‘accelerate sales momentum and execute a new sales strategy’.Gold miners rallied on Friday due to the rising price of the precious commodity as demand for the safe-haven asset continues to rise.What to watch today:Ahead of the first trading session this week the SPI futures are anticipating the ASX to open the new trading day up 0.56% on the back of Wall Street’s rally on Friday.On the commodities front this morning oil is trading 0.38% lower at US$75.56/barrel, gold is up 0.91% at US$2657/ounce, and iron ore is up 0.6% at US$106.44/tonne.AU$1.00 is buying US$0.67, 100.54 Japanese Yen, 51.63 British Pence and NZ$1.11.Trading Ideas:Bell Potter has increased the rating on Catapult Group (ASX:CAT) from a hold to a buy and have raised the 12-month price target on the sports tracking software company from $2.35 to $2.75 ahead of the company’s first half results due out in a month’s time. The key focus for Bell Potter’s analyst in the upcoming results is the performance of the Tactics and Coaching division i.e. the video business from both a revenue and total contract value perspective.And Trading Central has identified a bullish signal on SG Fleet Group (ASX:SGF) following the formation of a pattern over a period of 23-days which is roughly the same amount of time the share price may rise from the close of $2.68 to the range of $2.81 to $2.85 according to standard principles of technical analysis.

Rio Tinto's acquisition of Arcadium Lithium has sent shockwaves through the lithium market. With its global reach and potential for supply deals with major carmakers, Rio's move suggests a renewed optimism about the future of lithium and the green energy transition.In this week’s wrap, Grady covers:(0:14): how Rio’s deal sparked interest in lithium mining(1:37): why Rio is optimistic about the long-term fundamentals for lithium demand(3:03): the potential for increased interest in lithium mining(3:54): how the ASX200 performed this week so far(4:39): the most traded stocks & ETFs by Bell Direct clients(5:10): economic data to watch out for next week.

Wall Street rose for a second straight session on Wednesday to record territory as investors shook off geopolitical concerns and bought back into tech stocks. The Dow Jones rose 1.03% to a record close, as did the S&P500 ending the day up 0.71% also to a record close, and the tech-heavy Nasdaq added 0.6% at the closing bell. The driver of the rally in the US was the release of the Fed’s latest meeting minutes whereby majority of participants favoured reducing interest rates by more than 50 basis points.Over in Europe overnight, markets closed higher ahead of key rate decisions out later this week and on easing oil prices. The STOXX 600 rose 0.66%, Germany’s DAX added 0.99%, the French CAC rose 0.52% and, in the UK, the FTSE100 ended the day up 0.65%.Across the Asia region on Wednesday it was a mixed session with China’s CSI index snapping a 10-day winning streak with a tumble of 7.05%, while Hong Kong’s Hang Seng fell 1.7%, but Japan’s Nikkei rose 0.87% and South Korea’s Kospi Index was closed for a holiday.The Australian market closed 0.13% higher on Wednesday as a strong tech rally offset sharp declines among materials and energy stocks.What to watch today:The local tech rally was on the back of Wall Street rising overnight back to near record territory. The materials sell off sparking investors to hit the sell-button on the big iron ore miners followed Beijing dampening hopes of more fiscal spending to aid China’s post-pandemic recovery efforts. BHP (ASX:BHP) and Rio Tinto (ASX:RIO) fell 1.2% and 2.3% respectively on Wednesday.On the Rio Tinto story, the mining giant has become the first mining giant to snap up a large lithium company when it agreed to acquire Arcadium Lithium for US$6.7bn in an all-cash deal announced on Wednesday. While BHP is going hard at expanding into the copper space, Rio Tinto becomes the first major mining player to back the lithium space following years of depressed pricing for the once-loved green commodity.Over in New Zealand the RBNZ cut the cash rate by 50bps to 4.75% as inflation returned to the target 1-3%.Ahead of Thursday’s trading session on the ASX the SPI futures are anticipating the ASX to open the day up 0.4% tracking Wall Street’s rally overnight.On the commodities front this morning, oil is down 0.3% at US$73.36/barrel, gold is down 0.54% at US$2607/ounce and iron ore is down 5.42% at US$106.30/tonne.The Aussie Dollar is buying 67.31 US cents, 100.26 Japanese Yen, 51.36 British Pence, and 1 New Zealand dollar and 11 cents.Trading Ideas:Bell Potter has downgraded the rating on GrainCorp (ASX:GNC) from a buy to a hold and have reduced the 12-month price target on the grain logistics and storage company on the back of analysing key drivers for FY25 including a frost event impacting East coast production and the narrowing of domestic oilseed pricing premiums. Trading Central has identified a bullish signal on KMD Brands (ASX:KMD) following the formation of a pattern over a period of 27-days which is roughly the same amount of time the share price may rise from the close of 47cps to the range of 56 to 58cps according to standard principles of technical analysis.

Wall Street closed higher overnight as lowering oil prices takes the pressure off stocks. The Dow Jones rose by 0.3%, the S&P 500 gained 0.97% and the tech-heavy Nasdaq ended 1.45% higher by the closing bell.Over in Europe, markets closed lower following eased stimulus talks coming out of China. The STOXX600 fell by 0.54% with all major sectors closing in the red, including mining stocks which dropped 4.47% and household goods which lost 1.47%. Germany’s DAX lowered by 0.2%, the French CAC fell 0.72% and over in the UK the FTSE100 ended Tuesday’s trading session 1.36% lower.Locally on Tuesday the ASX200 fell 0.35% with BHP and Rio Tinto losing more than 2% each after China’s National Development and Reform Commission press conference was held without further material stimulus measures included.What to watch today:The Australian share market is set to open higher, with the SPI futures suggesting a rise of 0.18% at market open this morning.On the commodities front this morning, Oil is trading 4.37% lower at 73 US dollars and 76 cents a barrel as supply issues in the Middle East are yet to be impacted and investors have started to focus back towards Chinese demand Gold is trading 0.84% lower at 2620 US dollars an ounce and iron ore is trading 3.26% higher at 112 US dollars and 39 cents a tonne.Trading Ideas:Bell potter maintains a buy rating on Seven Group Holdings (ASX:SVW) and has a 12-month price target of $48.50. The buy rating is maintained by Bell Potter as SVW’s businesses and investments are market leaders in their respective industries, with scale, brand, and industry expertise underpinning commercial advantages that are hard to replicate by competitors. Bell Potter remains positive on the near-term outlook for mining production, engineering construction and transitional energy markets, hence the buy rating is maintained.And Trading Central has identified a bearish signal in IDP Education (ASX:IEL), indicating that the stock price may rise from the close of $15.04 to the range of $13.50-$13.80, on a pattern formed over 29 days, according to the standard principles of technical analysis.

Wall Street fell on Monday amid rising oil prices and escalating tensions in the Middle East. The Dow Jones fell 0.94%, the S&P500 fell 0.96% and the Nasdaq ended the day down 1.18%. The benchmark 10-year treasury yield rose 3 basis points to 4.01%, marking the first time that the yield has topped 4% since August.US stocks failed to extend their rally from Friday following the release of a stronger-than-expected jobs report out in the region boosting confidence of a soft landing through economic stability while inflation eases and the Fed continues its rate cut plans.Across European markets overnight, markets closed mostly higher in the region ahead of key economic data out throughout this week. The STOXX 600 rose 0.17%, Germany’s DAX fell 0.09%, the French CAC added almost half a percent and, in the UK, the FTSE100 ended the day up 0.28%.Across the Asia region on Monday, markets closed higher ahead of three key rate decisions out of central banks in the region this week. Japan’s Nikkei led the gains with a near 2% rise while Hong Kong’s Hang Seng rose 1.6%, South Korea’s Kospi Index rose 1.58% and China’s CSI index remained closed for the Golden Week holiday. The local market started the new trading week with a light trading session amid the Labour Day holiday in NSW, but shares still managed to end the day 0.7% higher, just 7 points shy of the latest record close set in September.Investors fought to buy Arcadium Lithium shares yesterday sending the lithium miner’s share price soaring 46% after Rio Tinto confirmed it was in takeover talks with Arcadium. Rio Tinto shares fell 2.5% on Monday.The Arcadium rally boosted fellow lithium miners like Liontown Resources which rose 18%, Sayona Mining which climbed 13% and Core Lithium which added 8.7% as investors see the big mining giant’s interest in lithium as a recovery outlook for the leading green commodity.The recent rebound in the price of iron ore spilled into this week which boosted the big iron ore giants again on Monday with BHP and Fortescue adding 0.6% and 3% respectively at the end of Monday’s session. Speculations are circulating that further economic stimulus will be revealed out of China this week as the region puts in place material efforts and stimulus to reignite economic growth and expansion.What to watch today:Ahead of Tuesday’s trading session locally, the SPI futures are anticipating the ASX to open the day down 0.05% tracking Wall Street’s losses overnight.On the commodities front this morning, oil has jumped 3.42% overnight to trade at US$76.92/barrel on escalating tensions and supply concerns out of the Middle East, gold is down 0.2% at US$2648/ounce, and iron ore is up 0.5% at US$108.84/tonne.The Aussie dollar has weakened against the greenback overnight to buy US$0.67 cents, 100.10 Japanese Yen, 51.86 British Pence and NZ$1.10.Trading Ideas:Bell Potter has increased the 12-month price target on Light & Wonder (ASX:LNW) and maintain a buy rating on the leading global cross-platform games company after the analyst assessed the situation around the Dragon Train (DT) preliminary injunction whereby the US District Court for Nevada granted Aristocrat Leisure a preliminary injunction to Light & Wonder’s successful Dragon Train game preventing further installs of DT and sales globally. The upgrade in the price target by Bell Potter’s analyst is due to the company’s overall leading scale and cross-platform strategy producing a portfolio of high-performing games in both land and digital markets.And Trading Central has identified a bullish signal on Pepper Money (ASX:PPM) following the formation of a pattern over a period of 31-days which is roughly the same amount of time the share price may rise from the close of $1.40 to the range of $1.49 - $1.51 according to standard principles of technical analysis.

Markets this week saw volatility in commodity prices, particularly in oil, gold, and iron ore. The rising geopolitical tensions in the Middle East, combined with China’s economic stimulus measures, are driving up the prices of these commodities. While this presents opportunities for investors, it also poses risks due to the potential for price fluctuations.In this week’s wrap, Grady covers:(1:29): how investors should approach investing in oil producers(2:04): why the gold rally continues to outshine the market(2:38): how China’s stimulus announcement moved the price of iron ore(4:13): the best performers on the ASX200(5:11): the most traded stocks & ETFs by Bell Direct clients this week(5:42): five economic news items to watch out for.

Wall St closed lower overnight as the slow start to October continues as Middle Eastern tensions continue and investors await for unemployment data later on tonight. The Dow Jones fell 0.44%, the S&P500 dropped 0.17% and the tech heavy Nasdaq lost 0.04%.Over in Europe, markets closed lower with the STOXX600 closing 1% lower. All major sectors closed in the red with construction and materials stocks leading losses down 2%. Germany’s DAX fell 0.78%, the French CAC dropped 1.32% and over in the UK the FTSE100 lost 0.1%.Locally yesterday, the ASX200 rose by 0.09% with half of the major sectors ending in the green. Gains were led by the real estate sector which gained 1.65% with this being offset by the utilities sector which dropped by 0.41% by the closing bell.What to watch today:The Australian share market is set to open lower with the SPI futures suggesting a fall of 0.33% at market open this morning.On the commodities front this morning,Oil is trading 5.54% higher at 73 US dollars and 98 cents a barrel following rising geopolitical tensions in the Middle EastGold is trading 0.18% lower at 2655 US dollars an ounce and iron ore is trading 0.51% higher at 109 US dollars and 29 cents a tonne.Trading Ideas:Bell Potter maintains a buy rating on Cedar Woods Properties (ASX:CWP) and has a current share price of $5.60. The 12-month price target of $7.15, indicates a 27.7% growth target in a year, hence the buy rating is maintained.And Trading Central has identified a bullish signal on TPG Telecom (ASX:TPG), indicating that the stock price may rise from the close of $5.04 to the range of $5.31-$5.39, on a pattern formed over 17 days, according to the standard principles of technical analysis.

Wall St closed slightly higher overnight as the escalating tensions in the Middle East impacted markets. The Dow Jones added 0.09%, the S&P 500 rose just 0.01% and the tech-heavy Nasdaq gained 0.08%.Iran’s attack on Israel has impacted investor enthusiasm on Wall St for the new trading month and quarter, with trader uncertainty set to continue following Israel starting ground operations in Lebanon.Over in Europe, markets closed mixed, following in a similar trend to the US. The STOXX600 remained flat overnight with losses led by the utilities sector falling 1.8%, while oil and gas stocks jumped 1.5% following supply concerns in the Middle East. Germany’s DAX fell 0.25%, the French CAC gained 0.05% and over in the UK the FTSE 100 rose 0.17%.Locally yesterday, the ASX200 closed 0.13% lower with the majority of sectors closing in the red. Losses were led by the consumer discretionary and information technology sector which fell by 1.73% and 1.58% respectively. This was offset by the energy sector which rose by 2.35% yesterday.What to watch today:The Australian share market is set to open slightly higher, with the SPI futures suggesting a rise of 0.04% at market open this morning.On the commodities front this morning, Oil is trading 1.71% higher at 71 US dollars and 2 cents a barrel following supply disruptions in the Middle East. Gold is trading 0.07% lower at 2658 US dollars an ounce and iron ore is trading a massive 15.89% higher at 108 US dollars and 74 cents a tonne as China relaxed rules for homebuyers and moved to lower mortgage rates to support the property market, showing there is a potential rebound in demand for construction materials.Trading Ideas:Bell Potter has initiated coverage on Codan Limited (ASX: CDA) with a hold rating and has a 12-month price target of $16.90. Codan is an Australian technology company that develops and manufactures innovative, mission critical communications and detection technology. CDA’s primary customers include defence, government departments, major corporates, small scale miners and individual consumers. With a current price target of $16.33 the hold rating is recommended.And Trading Central has identified a bearish signal in EVT Limited (ASX:EVT), indicating that the stock price may fall from the close of $10.53 to the range of $8.80-$9.20, on a pattern formed over 15 days, according to the standard principles of technical analysis.

 In the US on Tuesday, Wall Street retreated from record territory as investors assess the potential impacts of escalating tensions in the Middle East. The Dow Jones fell 0.41%, the S&P500 lost 0.93% and the tech-heavy Nasdaq ended the day down 1.53%.Energy stocks rallied on Wall St though on Tuesday as the price of West Texas Intermediate crude spiked after Israel Defence forces said Iran was firing missiles at the country.The European markets ended Tuesday’s trading session mostly lower on escalating tensions in the Middle East, despite the release of favourable fresh Eurozone inflation data coming in at a decline of 0.1% for September which was lower than August’s reading of a 0.1% increase. On a yearly basis, the Eurozone inflation rate eased to 1.8% from 2.2% in August, in-line with market forecasts. The STOXX 600 fell 0.4%, Germany’s DAX lost 0.58%, the French CAC fell 0.81%, and in the UK, the FTSE100 ended the day up 0.48%.Across the Asia region on Tuesday, markets closed mostly higher led by Hong Kong’s Hang Seng rising 2.43%, while Japan’s Nikkei added 1.93%, but South Korea’s Kospi Index fell 2.13% on Tuesday.The local market started the trading month of October mixed with a record close on Monday before sliding 0.74% on Tuesday as Australian retail sales data came in hotter than economists’ were expecting, providing further evidence that inflation remains sticky, and the RBA shouldn’t consider cutting rates just yet. Materials stocks slid 2.3% while healthcare stocks rallied 1.12%. Retail sales rose 0.7% MoM in August which exceeded market forecasts of a 0.4% rise and was a rise for a 5th straight month.Sigma Healthcare soared 23% on Tuesday after the pharmacy operator offered to make court-enforceable undertakings to satisfy the ACCC concerns over the company’s proposed merger with Chemist Warehouse.Qantas shares fell 3.4% yesterday on news that Qatar Airways has moved to purchase of a 25% stake in Qantas rival, Virgin.And REA Group rallied 5% yesterday after the leading real estate business confirmed it would abandon its takeover bid for Rightmove after the UK-based company rejected REA’s fourth bid in a number of weeks.  What to watch today:Ahead of the midweek trading session here in Australia the SPI futures are anticipating the ASX to open the day up just 0.02%.On the commodities front this morning, oil is trading almost 3% higher at US$70.18/barrel on supply fears out of the Middle East as tensions in the region escalate, while gold is up 1.04% at US$2662/ounce and iron ore is up 0.91% at US$93.83/tonne.The Aussie dollar is buying US$0.69, 99.07 Japanese Yen, 51.84 British Pence and NZ$1.10.Trading Ideas:Bell Potter has maintained a hold rating on WiseTech Global (ASX:WTC) and raised the 12-month price target on the leading logistics software company from $115/share to $132.50/share post the release of the company’s FY24 result in August and news last month of DSV’s acquisition of Schenker (where DSV is a global rollout customer of WiseTech Global but Schenker is not. Bell Potter believes the stock looks expensive on an FY25 PE ratio and EV/EBITDA of 120x and 67x respectively hence the hold rating is maintained and the price target is raised based on the strong growth outlook.And Trading Central has identified a bullish signal on Autosports Group (ASX:ASG) following the formation of a pattern over a period of 69-days which is roughly the same amount of time the share price may rise from the close of $2.22 to the range of $2.28 to $2.32 per share according to standard principles of technical analysis.

Wall St opened the week with gains to close out a winning month across the major averages with the Dow adding 1.8% in September while the S&P 500 gained 2% and the Nasdaq added 2.7% over the September month of trading. The Dow Jones rose 0.04% to a fresh record high, while the S&P500 added 0.4% and the Nasdaq ended the day up 0.4%. The rally on Monday followed Fed Chair Jerome Powell’s press conference indicating the rate cuts will continue but likely not as aggressively as the US economy shows signs of resilience against easing inflation. Stellantis shares dropped 12.52% on Monday in the U.S. after the Jeep and RAM manufacturer lowered earnings guidance amid a worsening U.S. economy outlook. GM and Ford shares also fell on Monday.In Europe overnight it was a sea of red across the region for the last trading day of September in a pullback from the records set in the region on Friday. The STOXX 600 lost 0.95%, Germany’s DAX fell 0.76%, the French CAC lost 2% and, in the UK, the FTSE100 ended the day down 1.01%.Across the Asia region on Monday China’s record rally continued with stocks rallying to their best day in 16-years following stimulus measure announcements out of Beijing last week.The Aussie market scaled 0.7% higher to a fresh record close on Monday as 9 of the 11 sectors ended the day higher led by energy stocks rallying on the rising price of oil amid fresh attacks from Israel on Lebanon.Iron ore miners also felt some relief on Monday on the rising price of iron ore following a material stimulus package announced out of China last week to help reignite economic growth post pandemic. China’s manufacturing activity contracted sharply in September though amid subdued demand in the region while production expanded for an 11th straight month in September in China, but new orders fell.Liontown Resources rallied on Monday after the lithium miner completed its first shipment of lithium spodumene concentrate to China and spot sales starting from its flagship mine in WA.What to watch today:Ahead of Tuesday’s trading session on the ASX, the SPI futures are anticipating the local market will commence the first trading session of October down 0.4%.On the commodities front this morning, oil is up 0.2% at US$68.30/barrel, gold is down almost 1% at US$2634/ounce and iron ore is up 0.5% at US$92.98/tonne.The Aussie dollar has strengthened again overnight to buy US$0.69, 99.33 Japanese Yen, 51.65 British Pence and NZ$1.09.Trading Ideas:Bell Potter has decreased the 12-month price target on Synlait Milk (ASX:SM1) from 47cps to 42.5cps and maintain a hold rating on the milk processing company following the release of the company’s FY24 results including adjusted EBITDA consistent with expectations and previous guidance. Sales rose 2% in FY24, and no guidance was issued. Bell Potter maintains a hold rating on the company as the outlook remains uncertain for Synlait Milk given its reliance on retaining milk supply post FY26 and convincing farmers to withdraw cessation notices.And Trading Central has identified a bullish signal on KMD Brands (ASX:KMD) following the formation of a pattern over a period of 20-days which is roughly the same amount of time the share price may rise from the close of 47cps to the range of 57 cents to 59 cents according to standard principles of technical analysis.

It was a mixed session to end the week on Wall St on Friday with the Dow Jones rallying 0.33% to a fresh record high while the S&P500 lost 0.13% and the Nasdaq ended the day down 0.4%. Encouraging inflation data boosted investor appetite for stocks on the Dow Jones industrials index. August’s personal consumption expenditures price index, which is the Fed’s preferred measure of inflation, increased 0.1% in the month which met economists’ expectations on a monthly basis, but the index rose 2.2% YoY which fell short of economists’ forecasts of 2.3%. While inflation remains under control the Fed can focus on a sustained rate cut outlook to stabilise the US economy.Across the European region on Friday, markets closed in record territory as investors welcomed China’s new stimulus announcement and investors assessed key economic data. The STOXX 600 rose 0.52% to a record high while Germany’s DAX added 1.22%, the French CAC rose 0.64% and, in the UK, the FTSE100 ended the day up 0.43%. France and Spain both reported preliminary inflation data that showed a drastic drop in inflation in the regions which was welcomed by investors on Friday.Across the Asia markets on Friday, markets rallied led by China’s CSI index posting its best week in almost 16 years with a rise of 15.7% for the week, on the back of China launching a large-scale stimulus package in a bid to reignite economic activity in the world’s second largest economy. Hong Kong’s Hang Seng rose 3.55% on Friday and 12.75% over the week and Japan’s Nikkei rose 2.32% after headline inflation eased to 2.2% from 2.6% in August.Locally on Friday the ASX200 rose 0.1% to yet another fresh record high as a sharp rally for materials stocks offset losses among health care and real estate stocks. Mineral Resources led the winners on Friday with a near 14% boost, while Star Entertainment Group fell over 44% in the aftermath of the company released final FY24 results.De Grey Mining rallied 3.4% on Friday after denying a media report that the gold miner had received a takeover offer from Canada’s Agnico Eagle.Vulcan Energy Resource rose 5.8% on Friday after the company bought 100% of shares in geothermal wells operator, Geo GmbH.What to watch today:Ahead of Monday’s trading session the SPI futures are anticipating the ASX to open the day up 0.27% tracking the Dow’s record on Wall St on Friday.On the commodities front this morning oil is trading 0.75% higher at US$68.18/barrel, gold is down 0.53% at US$2658.40/ounce and iron ore is up 0.48% at US$92.98/tonne.The Aussie dollar has further strengthened against the greenback to buy US$0.69, 98.40 Japanese Yen, 51.61 British Pence and NZ$1.09.Trading Ideas:Bell Potter has increased the 12-month price target on Brickworks (ASX:BKW) from $29.50 to $31.00 and have downgraded the rating on the industrial conglomerate from a buy to a hold following the release of a robust FY24 result including EBIT down 8% but this beat Bell Potter expectations by 11%, core net debt increasing to $682m and outlook for FY25 remaining subdued on a building products front.And Trading Central has identified a bullish signal on Acrow (ASX:ACF) following the formation of a pattern over a period of 23-days which is roughly the same amount of time the share price may rise from the close of $1.07 to the range of $1.10 to $1.12 according to standard principles of technical analysis.

The Aussie market experienced investors grapple with rate hike decisions, economic uncertainties, and surprising corporate news this week. The RBA maintained its cash rate at 4.35%, while the Federal Reserve faces increasing pressure to avoid a recession. Amidst this backdrop, luxury fashion platform Cettire (ASX:CTT) delivered impressive financial results, defying economic headwinds. In this week’s wrap, Grady covers: (0:24): the RBA’s decision to hold the cash rate despite inflationary pressures(1:56): how the US economy has reacted to the Fed’s rate hike strategy(2:35): Cettire’s strong financial results (4:32): how the ASX200 performed this week so far (5:18): the most traded stocks & ETFs by Bell Direct clients (5:48): economic news items to watch out for. 

Wall St closed lower overnight as the Dow Jones ended a 4-day winning streak losing 0.7%. The S&P500 dropped 0.19% and the tech-heavy Nasdaq gained just 0.04%. In terms of US stocks, both General Motors and Ford fell more than 4% following downgrades from Morgan Stanley.Over in Europe, markets fell as the China-fuelled rally lost momentum. The STOXX600 closed 0.11% with half of the major sectors ending the trading day in the red. Germany’s DAX dropped 0.41%, the French CAC lost half a percent and over in the UK the FTSE100 ended Wednesday’s trading session 0.17% lower.Locally yesterday, the ASX200 fell 0.13% with the majority of sectors closing in the red. Losses were led by the financial and consumer staples sectors which fell 1.87% and 1.86% respectively. This was offset by the materials sector which rose by 2.42% yesterday.Monthly inflation data was also released yesterday coming it at 2.7%, which was below its previous result of 3.5% and the forecast of 3.1%.What to watch today:The Australian share market is set to open higher, with the SPI futures suggesting a rise of 0.21% at market open this morning.On the commodities front this morning, Oil is trading 2.58% lower at 69 US dollars and 71 cents a barrel, following concerns of supply disruptions in Libya after an agreement to appoint a central bank governor was made. Gold is trading slightly lower, down 0.03% at 2657 US dollars an ounce and iron ore is trading 0.31% higher at 91 US dollars and 88 cents a tonne.Trading Ideas:Bell Potter has initiated coverage on Netwealth Group (ASX:NWL) with a hold rating. Netwealth Group provides integrated wealth management products to financial intermediaries and their clients. Through its web-based platform, NWL offers end-customers and array of Wrap and Superannuation based portfolio and investment management tools, enabling a transparent and efficient way to buy & sell, monitor and administer assets.Trading Central has identified a bearish signal Transurban Group (ASX:TCL), indicating that the stock price may fall from the close of $13.21 to the range of $12.40-$12.55 on a pattern formed over 26 days, according to the standard principles of technical analysis.

Wall Street’s record rally run continued from Monday with the S&P500 up 0.25% to a fresh record, while the Dow Jones added 0.2% to a record close and the Nasdaq added 0.56%, led by AI market darling Nvidia rallying 4%. Investors shook off recent worrying economic data including US manufacturing PMI data hitting the lowest level in 15-months for August, and consumer confidence falling to 98.7 points for September, to extend the recent equity rally on the back of the Fed’s 50 basis point rate cut announcement late last week.In Europe overnight markets closed higher in the region led by stocks exposed to China following Beijing’s announcement of a range of policy measures easing in a bid to stimulate the economy.  The STOXX600 rose 0.6%, while Germany’s DAX added 0.8%, the French CAC rose 1.28% and, in the UK, the FTSE100 ended the day up 0.28%.The local market fell 0.13% on Tuesday, extending the weekly decline after the RBA held interest rates higher for longer. Rate sensitive tech stocks came under pressure on Tuesday as a higher interest rate environment makes debt levels more costly, thus blowing out the profitability runway for high growth companies.The RBA held Australia’s cash rate at 4.35% for the next period as was widely expected with commentary out of Australia’s central bank signalling the most recent projections for inflation in Australia indicate that it will be some time yet before inflation substantially hits the target 2-3% range. Without inflation taming to the target 2-3%, the RBA’s elevated rate of 4.35% will continue to hurt earnings for companies with higher input costs and subdued demand due to a high cost of living environment for all Australians.The RBA’s rate decision boosted the Aussie dollar to a 2024 record high against the greenback of 68.84 US cents.What to watch today:Ahead of the midweek trading session locally, the SPI futures are anticipating the ASX to open the day up 0.37% tracking Wall Street’s rally overnight.On the commodities front this morning, oil is trading 1.76% higher at 71 US dollars and 61cents a barrel, gold is up 1.18% at 2657 US dollars an ounce and iron ore is down 0.36% at 91 US dollars and 60 cents a tonne.Trading Idea:Bell Potter maintains a buy rating on Light & Wonder (ASX:LNW) and has a 12-month price target of $161. Bell Potter’s valuation implies a 19.7% share price growth of the current share price of $134.53, hence the buy rating is maintained.

Wall St shook off the mixed closed to last week with a record finish on Monday as the S&P500 rose 0.28% to a record high 5,718.57 points while the Dow Jones added 0.15% to another record 42,124.65 and the Nasdaq ended the day up 0.14%. Investors overlooked the latest US economic data in the form of a 15-month low for manufacturing PMI activity in the US for August to welcome the Fed’s rate cut outlook. Investors will now look forward to the latest weekly jobless claims data out later this week.European markets also started the week in positive territory investors assessed fresh business activity data out in the region. The STOXX600 rose 0.4%, Germany’s DAX rose 0.68%, the French CAC added 0.1% and, in the UK, the FTSE100 ended the day up 0.36%.Across the Asia region on Monday in mostly positive territory as investors assessed monetary policy decisions out of China and Japan last week with both central banks maintaining rates steady for the next period. China’s CSI index rose 0.37%, Hong Kong’s Hang Seng fell 0.2%, The Taiwan Weighted Index added 0.57% and Japan’s Nikkei was closed for a holiday.Locally to start the week, the ASX200 fell 0.7% at the closing bell on Monday to snap a 7-day winning streak as a sharp sell off in the big supermarkets weighed on the consumer staples sector while real estate and discretionary stocks also fell 1.6% and 1.32% respectively. Woolworths and Coles, the big supermarket giants, fell 3.4% and 3.3% respectively on Monday after the ACCC said the companies were misleading shoppers with claims they were dropping prices when they were actually increasing them. Both supermarket giants could be facing tens of millions of dollars in penalties.Iron ore miners were once again under pressure yesterday amid a decline in the price of the key commodity on the back of renewed concerns about demand out of China as the world’s second largest economy continues its sluggish post pandemic recovery.Boss Energy soared over 8% on Monday in the wake of a megadeal by Microsoft to restore life to a major US nuclear plant. The deal will see Microsoft buy 100% of its power for 20-years, which drove the price of uranium and subsequently, Boss Energy on Monday as Boss Energy’s 30% stake in the Alta Mesa uranium mine in south Texas now becomes more valuable in the global ramp up of nuclear power.All eyes today will be on the RBA as the latest rate decision will be announced this afternoon with the market expecting Australia’s central bank to maintain the current cash rate at 4.35%.What to watch today:Ahead of Tuesday’s trading session locally the SPI futures are anticipating the ASX to open the new trading day down 0.11% taking no lead from Wall Street’s rally overnight.On the commodities front this morning oil is trading almost half a % lower at US$70.67/barrel, gold is up 0.23% at US$2627.6/ounce and iron ore is down 0.11% at US$91.93/tonne.AU$1.00 is buying US$0.68, 98.23 Japanese Yen, 51.27 British Pence and NZ$1.09.Trading Ideas:Bell Potter has increased the rating on Imdex (ASX:IMD) from a sell to a hold and raised the 12-month price target on the company from $1.90 to $2.05 after the analyst reviewed the investment thesis behind the company to adopt a balanced near-term view on exploration activity and demand growth for the company’s products which are end-to-end mining product technology solutions. With anticipated demand for Imdex products set to grow over the next 6-9 months.And Trading Central has identified a bearish signal on Monadelphous Group (ASX:MND) following the formation of a pattern over a period of 46-days which is roughly the same amount of time the share price may fall from the close of $12.33 to the range of $10.40 to $10.80 according to standard principles of technical analysis.

 Wall Street closed mixed on Friday with the Dow Jones rising to yet another record high, ending the day up 0.09% to 42,063 points while the S&P500 and Nasdaq each retreated 0.19% and 0.36% respectively. Investors fear the Fed is needing to cut rates aggressively to avoid a recession as inflation is coming down faster than expected.Over in Europe, markets closed lower on Friday following a slew of central bank decisions in the region including the Bank of England holding rates steady for the month ahead despite the Fed cutting rates. The STOXX 600 fell 1.45% on Friday while Germany’s DAX lost 1.5%, the French CAC fell 1.51% and, in the UK, the FTSE100 ended the day down 1.2%.Across the Asia markets on Friday, it was sea of green at the close after the Bank of Japan kept its benchmark interest rate steady at around 0.25% for the next period. Japan’s Nikkei rose 2.8%, China’s CSI index added 0.16%, Hong Kong’s Hang Seng rose 1.27% and South Korea’s Kospi Index ended the day up 0.5%.Locally on Friday the ASX200 rose to yet another record close, ending the day up 0.2% at 8209.50 points, tracking global optimism on the back of the Fed’s 50bps rate cut announced earlier last week. Consumer discretionary stocks led the charge on Friday with a 1.12% gain while tech stocks rose 0.56% and utilities stocks ended the day up 0.41%. For the week the ASX200 rose 1.35%. Department store giant Myer fell more than 10% on Friday after reporting a slump in profit and sales for FY24 with results including total profit after tax falling 26% to $52.6m and the company’s dividend was cut to 5cps.Telix Pharmaceuticals on the other hand rocketed over 7% on Friday after the cancer imaging and therapy producer announced Cardinal Health as its US commercial distributor for Zircaix, the company’s kidney imaging agent which is currently in FDA submission stages for approval.What to watch today:Ahead of the first trading session of the new week the SPI futures are expecting the ASX to open the day down 0.82%.On the commodities front this morning, oil is trading 0.16% higher at US$71.13/barrel, gold is flat at US$2621.53/ounce and iron ore is down 0.11% at US$91.93/tonne.The Aussie dollar has strengthened to buy US$0.68 cents, 97.89 Japanese Yen, 51.3 British Pence and NZ$1.09.Trading Ideas:Bell Potter has initiated coverage of Coles Group (ASX:COL) with a buy rating and 12-month price target of $21.55 as the analyst sees Coles as providing an attractive earnings growth profile through to FY27 on an underlying basis with high levels of cash generation supporting growth in dividends.And Trading Central has identified a bullish signal on Lindsay Australia (ASX:LAU) following the formation of a pattern over a period of 41-days which is roughly the same amount of time the share price may rise from the close of 94cps to the range of $1.03 to $1.05 according to standard principles of technical analysis.

The Federal Reserve’s decision to lower interest rates was welcomed by Australian investors this week. Learn why the US rate cut boosted the local market and explore why the recent dip in oil prices is likely to be short-lived. In this week’s wrap, Grady covers: (0:10): how Wall St reacted to the Fed’s rate cut (1:20): the recent data signalling economic stability in the US (2:08): why the US rate cut is a positive for our local market (5:01): the most traded stocks & ETFs  by Bell Direct clients(5:29): economic news items to watch out for.

The US market closed lower on Wednesday despite the Fed announcing a 50-basis point rate cut in the first rate cut of the interest rate cycle as inflation continues to ease in the world’s largest economy. The Dow Jones fell 0.25% on Wednesday while the S&P500 lost 0.35 and the tech-heavy Nasdaq ended the day down 0.31%. Investors likely responded to the 50-basis point rate cut with concerns over the Fed potentially cutting aggressively in fear of further weakening to the US economy in the months to come.Over in Europe on Wednesday, markets closed lower as investors assessed key economic data released in the region. The STOXX 600 fell 0.5%, Germany’s DAX lost 0.08%, the French CAC fell 0.57% and, in the UK, the FTSE100 ended the day down 0.68%. UK inflation data for August was released yesterday with a flat reading on July of 2.2%, which comes ahead of the Bank of England’s rate decision on Thursday UK time where it is expected the BoE will maintain the current cash rate of 5% for another period.The Asia region closed mostly higher on Wednesday as investors in the region digested key economic data including Japan’s exports and imports rising 5.6% and 2.3% respectively in August and the country’s trade deficit easing over the month. Japan’s Nikkei rose 0.5% on Wednesday while China’s CSI index rose 0.37% and South Korea and Hong Kong’s markets were closed for a holiday.Locally on Wednesday, the ASX 200 ended the midweek session flat after setting a fresh record close on Tuesday as a decline in the price of iron ore hit the big miners.Underwhelming economic data out of China over the weekend placed further pressure on the iron ore price as the world’s second largest economy continues its struggle to regain economic expansion and stability post pandemic.Rio Tinto and BHP each fell just shy of 1%, while FMG ended the day down 0.3%.Harvey Norman shares closed flat on Wednesday despite the homewares retailer being hit with a class action accusing the retailer of allegedly selling hundreds of millions of dollars of unnecessary and worthless extended warranties. Harvey Norman said it complied with all relevant laws.Biotech company Imugene received a long-awaited Orphan Drug Designation from the FDA for its CF33-hNIS vaxinia to treat cholangiocarcinoma (COLAN-GIO-CARCINOMA) which is a rare form of bile tract cancer. Shares in the company rose 6.25% yesterday.What to watch today:All eyes locally today will be on Australia’s latest jobs data which is out this morning with the market expecting the unemployment rate to remain flat at 4.2% while it is forecast that the employment change is expected to drop to an increase of just 28,000 in August from the high jump of 58.2k reported in July.Ahead of Thursday’s trading session the SPI futures are anticipating the ASX to open the new trading day down half a percent tracking Wall Street’s loss overnight.On the commodities front this morning oil is trading 1.66% lower at US$70/barrel, gold is down 0.6% at US$2558.84/ounce, and iron ore is up 0.04% at US$91.98/tonne.The Aussie dollar has strengthened overnight to buy 67.65 US cents, 96.13 Japanese Yen, 51.23 British Pence and 1 New Zealand dollar and 9 cents.Trading Ideas:Bell Potter has initiated coverage of Genesis Minerals (ASX:GMD) with a buy rating and a 12-month price target of $2.55/share. Genesis Minerals is a Western Australian gold production and development company focused on the Leonora District with two gold processing plants and four mining centres under the company’s belt as well as two critical deposits boasting high grade gold. The company’s value is in its 10-year long-term growth plan and the restart of the Laverton plant in December 2024.Trading Central has identified a bullish signal on Adairs (ASX:ADH) following the formation of a pattern over a period of 17-days which is roughl

Overnight, Wall St closed flat as investors await for the Federal Reserve interest rate decision in the US on Wednesday. The Dow Jones fell 0.04%, the S&P500 rose 0.03% and the tech heavy Nasdaq jumped 0.2%.The Federal Reserves interest rate decision will be announced after local market close today following the aggressive hiking campaign that started in March 2022, which could help boost earnings growth for companies following recent high borrowing costs and inflation.Over in Europe, markets closed higher as they rebounded from a negative session to start the week. The STOXX600 ended Tuesday’s trading session 0.42% in the green with banks leading gains up 1%. Germany’s DAX and the French CAC both gained half a percent and over in the UK, the FTSE100 rallied by 0.38% by market close. Locally yesterday, the ASX200 rose by 0.24% by market close yesterday with all major sectors closing in the green. Gains were led by the information technology and real estate sectors which gained 1.07% and 0.71% respectively.What to watch today:The Australian share market is set to open lower, with the SPI futures suggesting a fall of 0.48% at market open today.On the commodities front this morning, Oil is trading 1.33% higher at 71 US dollars and 2 cents a barrel as it is expected that demand for oil will rise once the Federal Reserve cuts rates overnight. Gold is trading 0.55% lower at 2569 US dollars an ounce and iron ore fell 0.35% at 91 US dollars and 94 cents a tonne.Trading Ideas:Bell Potter maintains a buy rating on Austal Limited (ASX:ASB) and has a 12-month price target of $3.15. The buy rating is maintained by Bell Potter following the announcement of a $670 million contract from General Dynamics Electric Boat to expand its shipyard in Alabama by designing and constructing a new module fabrication and outfitting facility to support the US Navy Submarine Industrial Base. It is believed by Bell Potter that this is a significant update for ASB that will diversify its shipbuilding operations, drive long-term revenue growth, and reinforce its position as a key contributor to the US naval industrial base, hence the buy rating is maintained.And Trading Central has identified a bullish signal on Accent Group (ASX:AX1), indicating that the stock price may rise from the close of $2.27 to the range of $2.90-$3.05, on a pattern formed over 194 days, according to the standard principles of technical analysis.

Wall St started the new trading week with a mixed session ahead of the commencement of the Fed’s FOMC meeting where it is expected a rate cut of 0.25% will be announced as the US inflation rate continues to ease to the target 2% while the economy remains robust enough to avoid a recession. The S&P500 reversed morning losses to close Monday’s session up 0.13% while the Dow Jones rose 0.55% to a fresh record 41,622.08 points. The tech-heavy Nasdaq ended Monday’s session down 0.52% though as Apple shares weighed on the tech index.Over in Europe, markets closed mostly lower on Monday ahead of key interest rate decisions out around the world this week. The STOXX 600 fell 0.2% on Monday, Germany’s DAX lost 0.35%, the French CAC fell 0.21%, and, in the UK, the FTSE100 ended the day up 0.06%. The Bank of England rate decision is announced on Thursday where it is widely expected the BoE will maintain the current cash rate of 5% for another period following the first 25 basis points rate cut announced in August.Across the Asia region on Monday markets rose as investors assessed key economic data out of China including August factory, retail sales and fixed asset investment all rising by less than economists’ were expecting in data out over the weekend. China and South Korea’s markets were closed on Monday for the mid-Autumn festival, while Hong Kong’s Hang Seng rose 0.13% on Monday.Locally on Monday, the ASX200 rose 0.27% taking lead from Wall Street’s rally on Friday ahead of the Fed’s next FOMC meeting where it is widely expected the Fed will announce the first interest rate cut of this cycle as inflation eases in the US.Gold stocks rose on Monday as the price of the precious commodity rose 0.41% to US$2589/ounce. Evolution Mining, Regis Resources and Northern Star Resources each ended Monday’s session in the green.Qantas shares rallied yesterday after the national carrier announced it is raising the cost of changing airfares booked with the airline by 20% which increases income for the flying kangaroo.Australian-based global ship maker, Austal jumped over 17% on Monday after announcing it had won a US$450m contract with General Dynamics Electric Boat to expand production capacity at its US shipyard in support of the US Navy Submarine Industrial Base (SIB).What to watch today:Ahead of Tuesday’s trading session the SPI futures are anticipating the ASX to open the day up 0.65%.On the commodities front this morning, oil is trading 2.73% higher at US$70.53/barrel, gold is up 0.16% at US$2582/ounce, and iron ore is down 0.86% at US$92.26/tonne.The Aussie dollar has strengthened to buy US$0.67, 94.98 Japanese Yen, 51.04 British Pence and NZ$1.09.Trading Ideas:Bell Potter has initiated coverage of Champion Iron (ASX:CIA) with a buy rating and a 12-month price target of $7.15/share. Bell Potter’s analyst sees the company’s shift into higher grade production will likely support average realised prices and earnings amid an iron ore price environment generally expected to weaken. CIA will benefit from maturing high-grade iron concentrate markets that recognise emission reduction benefits. CIA is a dividend payer and the analyst expects earnings to continue to support dividends.And Trading Central has identified a bearish signal on Kelsian Group (ASX:KLS) following the formation of a pattern over a period of 12-days which is roughly the same amount of time the share price may fall from the close of $3.99 to the range of $3.25 to $3.40 according to standard principles of technical analysis.

On Friday, Wall St closed higher to cap off what was the best week of 2024. The Dow Jones rose by 0.72%, the S&P500 jumped over half a percent and the tech heavy Nasdaq gained 0.65%.In terms of US stocks, Alphabet rose 1.8% and Uber added more than 6%.Over in Europe, markets closed higher to end the trading week following the European Central Bank’s decision to cut rates. The STOXX600 closed 0.72% higher with nearly all major sectors ending the day in the green. Gains were led by retail and autos stocks which jumped 1.84% and 1.6% respectively. This was offset by food and beverage stocks which fell 0.32%. Germany’s DAX climbed nearly 1%, the French CAC rose by 0.41% and over in the UK, the FTSE100 ended Friday’s trading session 0.39% higher.Locally on Friday, the ASX200 rose by 0.3% with half of the major sectors ending the day positively. Gains were led by the materials and real estate sectors which rose by 2.25% and 1.02% respectively. This was offset by the financial sector which fell 0.61% by market close.What to watch today:The Australian share market is set to open higher, with the SPI futures suggesting a rise of 0.2% at market open this morning.Oil is trading 0.46% lower at 68 US dollars and 65 cents a barrel, gold is trading 0.78% higher at 2578 US dollars an ounce and iron ore is trading 0.86% lower at 92 US dollars and 26 cents a tonne.Trading Idea:Bell Potter maintains a buy rating on Champion Iron (ASX:CIA) and has a 12-month price target of $7.15. Bell Potter’s valuation implies a 24% share price growth of the current share price of $5.76, hence the buy rating is maintained.

The global economic landscape is a dynamic interplay of inflation, interest rates, and geopolitical events. As investors navigate this evolving environment, key economic indicators continue to shape market movements. From China’s struggling inflation to the United States’ resilient economy, this week’s economic data has offered a missed bag of signals. As we delve deeper into the details, it becomes evident that the path toward economic stability and growth is still fraught with uncertainties.In this week’s wrap, Grady covers:(0:11): how economic indicators continue to drive market movements(0:46): why China’s economy faces challenges(2:58): what the United States’ economic resilience demonstrates(5:25): how the ASX200 performed this week so far(6:07): the most traded stocks & ETFs by Bell Direct clients(6:38): economic news items to look out for.

Wall St closed higher overnight as the S&P 500 records its fourth straight winning day up 0.75%. The Dow Jones rose 0.58% and the tech heavy Nasdaq rose by 1% as investors anticipate a rate cut by the Federal Reserve next week.Over in Europe, markets closed in the green following a 25 basis point rate cut from the European Central Bank. The STOXX600 ended the trading session 0.78% higher with all major sectors closing positively. Germany’s DAX closed up over 1%, the French CAC jumped over half a percent and over in the UK the FTSE100 rallied 0.57%.Locally yesterday, the ASX200 closed 1.1% higher by market close will all major sectors ending Thursday’s trading session in the green. Gains were led by the information technology and energy sectors which climbed 2.44% and 2.32% respectively.What to watch today:The Australian share market is set to open higher with the SPI futures suggesting a rise of 0.56% at market open this morning.On the commodities front this morning,Oil is trading 2.75% higher at 69 US dollars and 16 cents a barrel following disruptions from storm Francine in the Gulf of Mexico which has led to the shutdown of around 670,000 barrels a day. Gold is trading 1.87% higher at 2558 US dollars an ounce and iron ore rallied 1.12% to 92 US dollars and 30 cents a tonne.Trading Ideas:Bell Potter maintains a buy rating on Genusplus Group (ASX:GNP) and has an unchanged 12-month price target of $2.70. Bell Potter’s valuation implies a 18.4% share price growth of the current share price of $2.28, hence the buy rating is maintained.Trading Central has identified a bullish signal on Lindsay Australia (ASX:LAU), indicating that the stock price may rise from the close of $0.91 to the range of $0.98-$1, on a pattern formed over 23 days, according to the standard principles of technical analysis.

Overnight, Wall St closed higher as investors reacted to the latest US inflation data readings and what it could mean for the Federal Reserve policy. The Dow Jones gained 0.31%, the S&P 500 rose by 1.07% and the tech-heavy Nasdaq ended Wednesday’s trading session 2.17% higher.In terms of US inflation data, core inflation year on year remained the same as its previous result and in line with the consensus of 3.2%. And the inflation rate year on year came in 0.2% below the forecast of 2.7% at 2.5%. Investors are now pricing in an 85% chance that the US central bank will approve a 25 basis point interest rate reduction in September, according to the CME  Group’s FedWatch measure.Over in Europe, markets ended Wednesday’s session mixed following the release of US inflation data. The STOXX600 closed 0.02% higher after a volatile day of trading with tech stocks gaining 1.21%, whilst industrials and household good stocks fell 0.4% each. Germany’s DAX gained 0.35%, the French CAC dropped 0.14% and over in the UK the FTSE100 lost 0.15% by market close.Locally yesterday, the ASX200 fell 0.3% lower yesterday with the majority of stocks closing in the red. Losses were led by the financial and energy sectors which dropped 1.46% and 1.41% respectively. This was offset by the materials sector which rose by 1.67%.What to watch today:The Australian share market is set to open higher, with the SPI futures suggesting a rise of 0.63% at market open this morning.On the commodity front this morning,Oil is trading 2.41% higher at 67 US dollars and 33 cents a barrel after hitting a near three-year low in its previous session.Gold is trading 0.29% lower at 2511 US dollars an ounce and iron ore is trading over half a percent lower at 91 US dollars and 28 cents a tonne.Trading Idea:Bell Potter maintains a buy rating on Adrad Holdings (ASX:AHL) and has an unchanged 12-month price target of $1.12. Bell Potter’s valuation implies a 48.3% share price growth of the current share price of $0.75, hence the buy rating is maintained.

Wall Street rallied in the final hours of trade on Tuesday to post a positive finish across the major averages as investors bought into higher growth stocks which boosted the Nasdaq to a 0.84% gain at the closing bell. The S&P500 rose 0.45% on Tuesday and the Dow Jones reversed losses to end the day up 0.23%. Investors in the US are now bracing for key inflation data out in the US on Wednesday with the expectation of further easing of the inflation rate, while the core inflation rate month on month is expected to rise slightly.In Europe overnight, auto stocks weighed on the key regions leading to a red finish across European markets on Tuesday. The STOXX600 fell 0.66%, Germany’s DAX lost 0.96%, the French CAC fell 0.24% and, in the UK, the FTSE100 ended the day down 0.78%. Car parts supplier Continental fell 10% on Tuesday after the company said It saw provisions in the mid double digit million-euro range due to a warranty case involving one of its brake systems, while BMW shares fell 11% on Tuesday.Across the Asia region on Tuesday, markets were mixed as investors responded to key economic data out in the region. China’s exports grew 8.7% YoY in August and imports rose 0.5% in trade balance data out yesterday indicating recovery of output in the world’s second largest economy. China’s CSI index closed flat on Tuesday, South Korea’s Kospi index fell 0.5%, Japan’s Nikkei rose 0.16% and Hong Kong’s Hang Seng ended the day up 0.37%.The ASX had a strong rally on Tuesday with a 0.3% gain at the closing bell to hit 8011.898 points, on the back of the US rally on Monday as investors assessed key Westpac consumer confidence data and NAB business confidence data released yesterday.Westpac consumer confidence data for September out on Tuesday came in at a fall of 0.5% which was less than economists were expecting (1.2%), but still indicated a slide from August as consumer confidence was hit by the sluggish GDP growth in Q2 for Australia and the overall stability of the Australian economy.NAB Business confidence data for August also out yesterday indicated business confidence fell 3 points in August to -4 index points, compared to market expectations of a rise to 3 points.The slide in business confidence was driven by declining employment and cost inputs eating away at margins.Iron ore miners had a reverse of Monday’s start to the week with a boost yesterday on the back of a rise in the price of the commodity on news that improved seasonal demand for steel in China and hopes of stimulus out of Beijing will drive material demand increase for the coming months.According to the consultancy Mysteel, September is usually a high-demand period for steel in China. However, last week saw lower demand due to concerns about both the Chinese and US economies.CBA rallied to all time high yesterday as the big banks rallied again, while Life360 pulled back yesterday after the stock traded lower on the Nasdaq overnight, and an early investor and independent non-executive director sold 100,000 shares worth $3.7m.What to watch today:Ahead of the midweek trading session on the ASX, the SPI futures are anticipating the local market to open the day up 0.1% following Wall Street’s rally overnight.On the commodities front this morning, oil has tumbled overnight to trade 4% lower at US$65.96/barrel, gold is up 0.4% at US$2515.85/ounce and iron ore is up 0.16% at US$91.76/tonne.The Aussie dollar has slightly strengthened against the greenback overnight to buy US$0.66 cents, 94.81 Japanese Yen, 50.88 British Pence and NZ$1.08 Trading Idea:Trading Central has identified a bullish signal on Lycopodium (ASX:LYL) following the formation of a pattern over a period of 16-days which is roughly the same amount of time the share price may rise from the close of $12.22 to the range of $14.60 to $15.10 according to the standa

Over in the US, Wall Street started the new trading week in positive territory as investors bought into the dip following Wall Street’s worst week in a year last week. The Dow Jones rose 1.2% on Monday, the S&P500 climbed 1.16% in recovery after the index posted its worst week since March 2023 last week, and the tech-heavy Nasdaq ended Monday’s session up 1.16%. Investor eyes in the US are now firmly focused on the Fed’s rate decision with the expectation of a cut to be announced later this month.In Europe overnight, it was a positive start to the week in the region as the STOXX 600 rose 0.76% led by travel and leisure stocks, while Germany’s DAX added 0.77%, the French CAC rose 0.99% and, in the UK, the FTSE100 ended Monday’s trading session up 1.09%.Across the Asia markets on Monday, key economic data out in the region painted a picture of eased economic stability which weighed on investor sentiment on Monday. Japan’s Q2 GDP came in at 2.9% on an annual basis which fell short of economists’ expectations of a 3.2% rise. Japan’s Nikkei closed Monday’s session down 0.48%, Hong Kong’s Hang Seng lost 1.42%, and China’s CSI index ended the day down 1.2%.On Monday, China’s consumer price index climbed by 0.6% YoY in August which fell short of economists’ expectations and paints a further concerning picture about the economic recovery of the world’s second largest economy. China’s producer price index also fell 1.8% YoY in August which was also a worse reading than economists’ were expecting led by declines in the prices of oil, coal and other fuel industries due to insufficient domestic demand and a drag from the country’s real estate sector.What to watch today:The local market started the new trading week in negative territory with a fall of 0.32% as investor sentiment was dampened by jobs data out in the US on Friday signalling a weakening labour environment in the world’s largest economy.The big banks and energy stocks led the losses on Monday while rate sensitive real estate and tech stocks rallied to offset some of the heavy losses.Domino’s Pizza (ASX:DMP) shares fell over 2.5% on Monday after the pizza giant was served with a class action from shareholders on allegations the company misled investors in 2021 about expected performance in Japan. Domino’s has said it will defend against the legal proceedings and denies any liability.Looking at commodities, oil is trading 1.5% higher at US$68.68/barrel, gold is up 0.66% at US$2503/ounce and iron ore is up 0.34% at US$91.61/tonne.The Aussie dollar has slightly weakened overnight to buy 66.68 US cents, 95.17 Japanese Yen, 50.87 British Pence and 1 New Zealand dollar and 8 cents.Ahead of Tuesday’s training session the SPI futures are anticipating the ASX to open the day up just shy of 1% following the rally on Wall St on Monday.We will likely see investors react to Westpac’s consumer confidence data for September out this morning with the forecast of a 1.2% decline from a 2.8% rise in August, while NAB business confidence data for August is also out today with the forecast of a rise to 3 points from 1 point in July.Trading Ideas:Bell Potter has increased the 12-month price target on Premier Investments (ASX:PMV) from $35 to $37 and maintain a buy rating on the leading retail investment company following the release an update out of the company including FY24 post-AASB-16 (lease related payments guide) EBIT of $341m. The increase in the price target is due to Bell Potter’s analyst seeing upside to the company’s share price from the potential demerger of PMV’s two-key brands, Smiggle and Peter Alexander which are highly profitable and global roll out worthy.Trading Central has identified a bearish signal on Orora (ASX:ORA) following the formation of a pattern over a period of 22-days which is roughly the same amount of time the share price m

Wall Street closed lower across the board on Friday as investors assessed the August jobs report which was released on Friday morning. The S&P500 fell 1.73% to post its worst week since 2023 with a 4.3% decline over the 5-trading days, while the Nasdaq tumbled 2.55% on Friday and the Dow Jones ended the day down 1.01%. The jobs data out for August on Friday indicated non-farm payrolls rose by 142,000 compared to economists’ expectations of 161,000, but the unemployment rate fell to 4.2%, painting a mixed picture about the strength of the US jobs market. Investors took the weaker-than-expected reading in non-farm payrolls as a signal of economic weakness and as a result sold out of equities on Friday.Over in Europe, markets closed Friday’s session lower in the worst week since the early August slump as the US jobs report clouded investor sentiment around global economic stability. The STOXX600 fell 1.15%, Germany’s DAX lost 1.48%, the French CAC fell 1.07% and, in the UK, the FTSE100 ended Friday’s session down 0.73%.Across the Asia region on Friday the sea of red mostly extended across the region as key economic data weighed on investor sentiment including Japan’s household spending data for July rising just 0.1% on the previous year, compared to the 1.2% rise economists were expecting. Japan’s Nikkei fell 0.72%, South Korea’s Kospi Index lost 1.21% and China’s CSI index ended the day down 0.81%.Locally on Friday the ASX200 rose 0.4% with the bankers driving the positive close to offset some of the heavy losses experienced this week. Energy stocks tumbled over 3% on Friday, extended the week’s losses amid the volatile price of oil, while consumer discretionary stocks rallied 1% on the final trading session of last week.Materials stocks came under pressure on Friday after China’s steel advisory group advised mills to be cautious on boosting outlook on fears of subdued demand and subdued pricing. Therefore, impacting iron ore prices late last week and the local miners were sold off as a result.Strike Energy soared almost 9% on Friday in the days after the gas exploration and development company released plans to expand the Eastern Perth Basin with major discoveries at its Erregulla Deep-1 exploration well.What to watch today:Ahead of the first trading session of the new trading week, the SPI futures are expecting the ASX to open the day down 1.28% following the Wall St slide last week.On the commodities front this morning, oil is trading 0.80% higher at US$68.20/barrel, gold is up 0.41% at US$2497/ounce and iron ore is up 0.34% at US$91.61/tonne.AU$1.00 is buying US$0.66 cents, 50.79 British Pence, 94.86 Japanese Yen, and NZ$1.08.Trading Idea:Bell Potter has increased the 12-month price target on GrainCorp (ASX:GNC) from $9.90 to $10.20 and maintain the buy rating following the release of the ABARE September 2024 east coast winter crop forecast reflecting a 6% upgrade relative to the record June 2024 estimate to 28.8million tonnes. The consensus EBITDA FY25 expectations for GNC of $320m imply an outcome consistent with GNC’s through-the-cycle EBITDA projection, which appear conservative especially if the basis trade emerges over harvest which Bell Potter would expect to occur on a winter crop of this magnitude.

The Australian market has just weathered a turbulent reporting season for FY24, with many companies struggling under the weight of rising interest rates and inflationary pressures. Despite a handful of standouts, the overall outlook for FY25 is cautiously pessimistic. As we dive deeper into the key takeaways and predictions for the coming year, it's clear that businesses will need to adapt to a more challenging economic landscape.In this week’s wrap, Grady covers:(0:46): how weakening commodity prices influenced the resources sector(1:37): why dividends were on the chopping block(3:08): how retailers performed this August(4:36): how the ASX200 performed this week(5:19): the most traded stocks by Bell Direct clients(5:45): economic news items to watch out for.

Wall St closed lower overnight as the S&P 500 and the Nasdaq fell for the second straight session to start September. The S&P 500 fell 0.16%, the tech-heavy Nasdaq ended the day 0.3% lower and the Dow Jones had a slight rise of 0.09%.Over in Europe, markets closed lower on Wednesday’s trading session following losses on Wall St. The STOXX600 closed 1% lower with most sectors closing in the red. Losses were led by technology stocks which saw a 3.2% decline, whilst household goods also fell 2%. Germany’s DAX fell 0.83%, the French CAC closed nearly 1% in the red and over in the UK the FTSE100 dropped 0.35%.Locally yesterday, the ASX200 closed 1.88% lower will all major sectors ending Wednesday’s trading session lower. Losses were led by the materials and energy sectors which fell 3.03% and 2.99% respectively.What to watch today:The Australian share market is set to open slightly higher, with the SPI futures suggesting a rise 0f 0.03% at market open this morning.On the commodity front this morning, Oil is trading 1.87% lower at US$68.90/barrel following concern from investors over future demand for oil. Gold is trading 0.09% higher at US$2495/ounce and iron ore is trading 1.87% higher at US$100.55/tonne.Trading Idea:Bell Potter maintains a speculative buy rating on Curvebeam (ASX:CVB) which is a healthcare equipment and services company which combines market leading point-of-care diagnostic beam CT imaging solutions with Artificial Intelligence. Bell Potter’s valuation of $0.26, implies a 40.5% share price growth of the current share price of $0.185, hence the speculative buy rating is recommended. 

Well, the Australian market closed yesterday’s session slightly lower, as consumer and mining stocks weighed on the ASX200, ahead of Australia’s GDP reading for Q2 out later this morning. Economists are expecting 0.3% growth, from 0.1% reported in Q1. The market may see a strong investor reaction if reports are below expectations, as the high-interest rate environment continues to weigh on the economy. Woolworths (ASX:WOW), Coles (ASX:COL) and Endeavour (ASX:EDV) shares were among the hardest hit yesterday, as each of the consumer staples company’s went ex-dividend.US equities tumbled in the red overnight for the first US trading session of September. Technology heavyweights struggled to rally into the new month and fresh economic data came in weaker-than-expected. The market has seemed to be data dependent recently, as the Nasdaq declined 3.6%, the S&P500 down 2% and the Dow Jones closed 600 points or 1.5% lower. European markets also closed in the red, with the STOXX600 down 0.97%. What to watch today:Following US markets overnight, the SPI futures are suggesting that Australian market will drop 1.17% at the open this morning. In commodities, Crude oil is down 5% to US$70.36 per barrel, the lowest since the start of January as muted demand magnified the impact of relatively ample supply. Plus, new data out in China aggravated concerns that the economic growth from one of the largest oil consumers in the world, is unlikely to bounce back this year, after factory demand dropped more than expected in August. So keep watch of energy producers today, including Beach Energy (ASX:BPT) and Woodside Energy (ASX:WDS). Gold is trading slightly lower as the US dollar added pressure. And iron ore is trading in the green after weighing down on our large mining stocks yesterday, as weakness in China’s economic recovery and steel industry sparked yesterday’s iron ore price to drop below US$100 per tonne. BHP Group (ASX:BHP), Champion Iron (ASC:CIA) and Fortescue (ASX:FMG) were all lower. On that note, Fortescue is also set to go ex-dividend today, which may see FMG’s share price fall, as investors take their profits. And the Australian dollar is buying US$67.36, 97.92 Japanese Yen, 51.32 British Pence and NZ$1.09.Trading Ideas:Bell Potter initiated coverage on Northern Star Resources (ASX:NST), the largest solely ASX listed gold mining company. Bell Potter initiate coverage with a Buy recommendation in accordance to their ratings structure. Their 12-month price target is $17.50 and that their current share price of $14.87, this implies 17.7% share price growth in a year. And Trading Central have identified a bearish signal on Goodman Group (ASX:GMG) indicating that the stock price may fall from the close of $33.07 to the range of $29.20 to $30.00 over 7 days, according to the standard principles of technical analysis. 

Due to the Labour Day holiday over in the US, markets were closed in the region, however over in Europe, markets ended the day flat to start September. The STOXX600 closed 0.04% lower, with losses led by retail stocks which dropped 0.77%, whilst telecoms stocks added 0.78%. Germany’s DAX added 0.13%, the French CAC gained 0.2% and over in the UK the FTSE100 fell 0.15%.Locally yesterday, the ASX200 rose 0.22% by market close yesterday. Gains were led by the financial and energy sectors which gained 1.14% and 1.1% respectively. This was offset by the materials sector which fell 1.11% by end of trade on Monday.What to watch today:The Australian share market is set to open slightly higher, with the SPI futures predicting a rise of 0.05% at market open this morning.On the commodities front this morning, Oil is trading 0.7% higher at 74 US dollars and 6 cents a barrel, gold is trading 0.13% lower at 2499 US dollars an ounce and iron ore is trading 0.07% higher at 98 US dollars and 60 cents a tonne.Trading Ideas:Bell Potter maintains a buy rating on Resource Development Group (ASX:RDG) and has a 12-month price target of $0.034. The buy rating is maintained by Bell Potter following the release of FY24 results in which RDG reported a revenue of $136m, up 145% year-on-year and an underlying EBITDA of $28.4m which was up 53% year-on-year. As well as this, RDG continues to focus on implementing modifications and upgrade works to the Lucky Bay plant to achieve nameplate capacity, with an upgraded New Constant Density tank commissioned during July 2024, yielding improved plant stability and greater heavy mineral recovery and production. An expanded attritioning circuit was also installed which will improve product quality, hence the buy rating is maintained.Trading Central has identified a bullish signal in Elders Ltd (ASX:ELD), indicating that the stock price may rise from the close of $9.37 to the range of $10.05-$10.20, on a pattern formed over 22 days, according to the standard principles of technical analysis.

Wall St closed higher on Friday to end what was a volatile month, with the Dow Jones posting a fresh record high. The S&P 500 gained over 1%, the tech-heavy Nasdaq jumped 1.13% and the Dow Jones ended the trading day over half a percent higher. US inflation data was released on Friday, with the personal consumption expenditure price index rising 0.2% in July, in line with economist expectations.Over in Europe, markets closed lower as investors consumed the latest inflation data from around the world. The STOXX 600 closed 0.09% higher on Friday, Germany’s DAX fell 0.03%, the French CAC dropped 0.13% and over in the UK the FTSE100 ended Friday’s trading session 0.04% lower.Locally on Friday, the ASX200 gained 0.58% with the majority of sectors finishing in the green. Gains were led by the industrial and energy sectors which gained 1.65% and 1.27% respectively. This was offset by the consumer discretionary sector which fell 0.46% by the closing bell.What to watch today:The Australian share market is set to open lower, with the SPI futures suggesting a fall of 0.22% at market open this morning.On the commodity front this morning,         Oil is trading 3.11% lower at 73 US dollars and 55 cents a barrel as investors factored in the likelihood of a rise in OPEC+ supply starting in October.Gold is trading 0.65% lower at 2503 US dollars an ounce and iron ore is trading 0.07% higher at 98 US dollars and 70 cents a tonne.Trading Ideas:Bell Potter maintains a buy rating on Aeris Resources (ASX:AIS) and has a 12-monht price target of $0.27. The buy rating is maintained by Bell Potter following the release of FY24 results in which EBITDA came in ahead of Bell Potter forecasts and a revenue of $540m was recorded. AIS is a copper dominant producer with all its assets in Australia. Its near-term outlook is highly leveraged to the copper price and increasing grades and production at the Tritton copper mine. Successful delivery offers significant upside and a strategically attractive asset in Tritton, hence the buy rating is maintained.Trading Central has identified a bullish signal in IGO Ltd (ASX:IGO), indicating that the stock price may rise form the close of $5.55 to the range of $5.75-$5.83, on a pattern formed over 20 days, according to the standard principles of technical analysis.

ASX heavyweights released results this week that painted a mixed picture about the outlook for FY25. Over August, 275 companies released results, with 85 beating expectations. From soaring profits to unexpected setbacks, join Grady as she delves into the details and analyses the implications for investors.In this week’s wrap, Grady covers:(0:37): how Wesfarmers shares declined following strong results(2:00): why Qantas’ share price ran into turbulence(2:51): what caused mining giant Mineral Resources to tumble(4:52): how the market performed this week so far(5:39): the most traded stocks & ETFs by Bell Direct clients(6:06): economic data to watch out for.

Wall St closed mixed on Thursday as the Dow Jones closed at fresh highs overnight. The tech-heavy Nasdaq fell 0.23%, the S&P500 remained flat and the Dow Jones gained 0.59% to end the trading day.Over in Europe, markets closed higher as investors reacted to interest rate decisions across Europe. The STOXX600 closed 0-.74% higher with all major sectors ending Thursday’s trading session in the green. Gains were led by tech stocks which rose 2.05%, following the announcement of quarterly results from AI giant, Nvidia. Germany’s DAX rose 0.69%, the French CAC gained 0.84% and over in the UK, the FTSE100 rallied 0.43% by the closing bell.Locally yesterday, the ASX200 ended Thursday’s trading session 0.26% higher, despite the majority of sectors closing in the red. The two major sectors which did end the day positive were the financial and real estate sectors which gained 1.46% and 1.19% respectively. This was offset by the information technology sector which fell 1.88%.What to watch today:The Australian share market is set to open higher, with the SPI futures suggesting a rise of 0.64% by market open this morning.On the commodities front this morning, Oil is trading 1.65% higher at 75 US dollars and 75 cents a barrel, gold is trading over half a percent higher at 2521 US dollars an ounce and iron ore is trading 0.06% higher at 98 US dollars and 51 cents a tonne.Trading Idea:Bell Potter maintains a speculative buy rating on Matrix Composites & Engineering (ASX:MCE) and has increased its 12-month price target to $0.44. The speculative buy rating is maintained by Bell Potter following the release of FY24 results in which reported revenue was up 80% year-on-year, in line with guidance and forecast. MCE is also exposed to a protracted capital expenditure up-cycle across the global off-shore energy sector and is leveraged to growing activity across the global offshore floating wind sector, providing a medium-term earnings catalyst.

Wall Street closed lower at the end of the midweek session as investors braced for the release of Nvidia’s Q2 earnings results that were released after the closing bell. The Dow Jones fell 0.39% on Wednesday, the S&P500 lost 0.6% and the tech-heavy Nasdaq ended the day down 1.12%. Nvidia’s results have fast become one of the most important pieces of data the market analyses for outlook on growth in the AI revolution. For the second quarter, Nvidia reported record quarterly revenue of US$30bn, up 15% on Q1 and a rise of 122% from a year ago, record quarterly data centre revenue of $26.3bn was also reported which is a rise of 16% on Q1 and 154% from a year ago. In after-hours trade, Nvidia shares are down over 6.5% despite the company posting outlook for revenue growth to US$32.5bn in Q3.Over in Europe on Wednesday, markets closed mostly higher in the region on strong corporate earnings results out in the region. The STOXX 600 rose 0.33%, Germany’s DAX added 0.54%, the French CAC rose 0.16%, and in the UK, the FTSE100 ended the day down just 0.02%.Across the Asia region on Wednesday markets closed mixed as investors digested key economic data out in the region. Hong Kong’s Hang Seng fell 1.05% on Wednesday, China’s CSI index lost 0.57%, Japan’s Nikkei rose 0.22% and South Korea’s Kospi Index closed flat on Wednesday.Locally on Wednesday, the ASX200 closed flat as investors responded to corporate earnings results and the release of key inflation data that came in slightly hotter-than-expected. Australia’s monthly CPI indicator rose 3.5% in the 12-months to July 2024, down from 3.8% in June, but above the 3.4% economists were expecting. The greatest contributors to the 3.5% rise for July were housing up 4%, food and non-alcoholic beverages up 3.8%, alcohol and tobacco up 7.2% and transport up 3.4%. The nation’s core inflation which strips out volatile metrics including fuel, fruit and holiday travel, was 3.7% for the year to July, down from 4% in June.Woolworths shares rallied 3.4% on Wednesday after the supermarket giant reported strong FY24 results including a special dividend of 40cps.Travel agency group Flight Centre also rallied nearly 2% yesterday after releasing FY24 results outlining airfares moderated and travel demand remained strong over the last financial year, with total transaction value topping $23.7bn for FY24, which was $1.8 bn more than FY23.Fortescue shares fell 2% yesterday despite the mining giant reporting an 18% jump in net profit for FY24 to $8.4bn. Investors likely sold out due to the near $1bn loss reported for Fortescue’s green energy division.What to watch today:Ahead of the local trading session here in Australia, the SPI futures are anticipating the ASX to open the day down 0.27% tracking turbulence on Wall St overnight.On the commodities front this morning, oil is trading 1.44% lower at US$74.45/barrel, gold is down 0.7% at US$2508/ounce and iron ore is up 0.15% at US$98.45/tonne.AU$1.00 is buying US$0.67, 97.94 Japanese Yen, 51.36 British Pence and NZ$1.09 cents.Trading Ideas:Bell Potter has increased the rating on Fortescue (ASX:FMG) from a sell to a hold and have raised the 12-month price target on the mining giant from $17.41 to $17.58 following the release of the company’s FY24 results with the belief subdued outlook in priced into the current market price. FY24 results were reported broadly in-line with market expectations with moderately lower NPAT due to higher tax and D&A charges. The analyst believes the results in FY24 were solid but subdued iron ore outlook and interest rate differentials pointing to a stronger AUD to USD exchange rate, will pressure build on FMG’s margins.And Trading Central has identified a bullish signal on NRW Holdings (ASX:NWH) following the formation of a pattern over a period of 8-days which is roughly the same amount of time the

Over in the US, markets closed higher as investors await further key corporate earnings out later this week. The Dow Jones rose by 0.02%, the S&P500 rallied 0.16% and the tech-heavy Nasdaq ended the day 0.16% in the green. Investors are eagerly awaiting the release of results from AI and chip making giant Nvidia, which will come out after the closing bell on Wednesday, to gain insight into the growth potential for the company and broader tech sector.In Europe overnight, markets closed mostly higher as investors continue to weigh the impact of geopolitical tensions against corporate earnings and commentary. The STOXX600 rose 0.23% led by travel stocks on Tuesday while Germany’s DAX added 0.35%, the French CAC fell 0.32% and, in the UK, the FTSE100 ended the day up 0.21%.The local market rally ended on Tuesday with the key index falling 0.16% at the closing bell as geopolitical tensions and corporate results weighed on investor sentiment. Tech and banking stocks took the biggest hit yesterday while energy producers ended the day higher on the rising price of oil.What to watch today:The Australian share market is set to open lower, with the SPI futures suggesting a fall of 0.35% at market open this morning.On the commodities front this morning, Oil is trading 2.12% lower at 75 US dollars and 77 cents a barrel, gold is up 0.37% to 2524 US dollars an ounce and iron ore is trading 0.26% higher at 98 US dollars and 30 cents a tonne.Trading Ideas:Bell Potter maintains a buy rating on Propel Funeral Partners (ASX:PFP) and has increased its 12-month price target to $6.40. The buy rating is maintained by Bell Potter following the release of FY24 results which saw revenue increase by 24.5% to $209m, supported by 20% growth in funerals conducted and a 4% growth in average revenue per funeral. PFP also recorded an EBITDA of $55.4m at a 26.5% margin which Bell Potter has seen as a healthy outcome, hence the buy rating is maintained.Trading Central has identified a bullish signal in Fortescue Limited (ASX:FMG), indicating that the stock price may rise from the close of $18.63, to the range of $20.10-$20.50 on a pattern formed over 21 days, according to the standard principles of technical analysis.

Overnight, Wall St closed mixed as the Dow Jones ended the day at record highs despite the sell-off earlier in the month. The S&P 500 fell 0.32%, the tech-heavy Nasdaq lost 0.85% and the Dow Jones rose by 0.16% by market close.Over in Europe, markets followed the US and closed mixed as investors react to rising tensions in the Middle East following strikes by both Israel and Hezbollah over the weekend. Germany’s DAX fell 0.09%, the French CAC gained 0.18% and over in the UK the FTSE100 ended Monday’s trading session nearly half a percent higher.Locally yesterday, the ASX200 rallied 0.76% by market close. Gains were led by the communications services and financial sectors which rose 1.25% and 1.23% respectively. This was offset by the consumer staples sector which fell 0.85%.What to watch today:The Australian share market is set to open slightly higher, with the SPI futures suggesting a rise of 0.05% by market open this morning.On the commodities front this morning, Oil is trading 2.98% higher at 77 US dollars and 5 cents a barrel due to supply concerns following the rising tensions in the middle east. Gold is trading 0.28% higher at 2516 US dollars and ounce and iron ore is trading 0.14% lower at 98 US dollars and 5 cents a tonne.Trading Ideas:Bell Potter maintains a buy rating on Genusplus Group (ASX:GNP) and has increased its 12-month price target to $2.70. The buy rating is maintained by Bell Potter following positive FY24 results in which GNP reported group revenue of $551m, up 24% year-on-year, with the beat driven by better than expected industrial serviced segment sales of $153m. Bell Potter continue to see GNP as a key small-cap investment opportunity to play the theme of increasing investment in renewable energy, battery energy storage and transmission infrastructure across Australia, hence the buy rating is maintained.And Trading Central has identified a bullish signal in TPG Telecom (ASX:TPG), indicating that the stock price may rise from the close of $4.65 to the range of $4.81-$4.85, on a pattern formed over 15 days, according to the standard principles of technical analysis.

Wall Street ended Friday’s session higher after Fed Chair Jerome Powell indicated rate cuts are on the horizon at his Jackson Hole Economic Symposium speech on Friday. The Dow Jones added 1.14% on Friday while the S&P500 rose 1.15% and the tech-heavy Nasdaq ended the day up 1.47%. Powell said ‘the time has come for policy to adjust’ which was music to all investor ears after over a year of an aggressively high interest rate strategy to tame inflation in the world’s largest economy.Friday’s rally in the US boosted the major averages to gains for the week with the Dow adding 1.3%, the S&P500 rising 1.45% and the Nasdaq climbing 1.4%.Uranium miners in the states rallied on Friday after Kazakhstan’s national uranium miner cut its production output for 2025 due to delays in ramping up production at some sites and limited access to sulfuric acid. This output decline places pressure on the global supply of uranium, which is growing in demand due to the global increase in nuclear power.Positive rate cut sentiment out of the Fed boosted European markets on Friday as a lower US interest rate weakens the USD and increases the attractiveness of trade with Europe and other export-oriented countries. The STOXX 600 rose 0.5% while Germany’s DAX added 0.76%, the French CAC rose 0.7% and, in the UK, the FTSE100 ended the day up 0.48%.Across the Asia region on Friday, markets closed mostly lower as investors awaited Fed Chair Jerome Powell’s speech of Jackson Hole on Friday. Japan’s Nikkei rose 0.4% as inflation came in at 2.8%, a flat reading on the prior month, while China’s CSI index rose 0.42%, Hong Kong’s Hang Seng lost 0.14% and South Korea’s Kospi Index lost 0.22%.Locally on Friday the ASX200 ended the day down just 0.04% as the utilities and energy sectors weighed on market gains. For the week though, the ASX200 rose 0.66% to sit above 8000 points again for the first time since the early August mass-equity sell off.What to watch today:Tech sector heavy weight WiseTech Global led the winning stocks for the week with a 28% climb which paved the foundations for the tech sector to soar over 8% last week. The WTC rally was on the back of strong FY24 results and growth momentum expected to continue into FY25.Telix Pharmaceuticals shares fell 9% on Friday despite the radiopharmaceuticals company posting very strong first half results. For the first half, Telix reported total revenue rose 65% to $364m, gross margin increased to 66% from 63%, the company reported NPAT of $29.7m up from a loss of $14.3m and Telix reaffirmed its guidance for FY24.Ahead of the first local trading session of the last week for August, the SPI futures are anticipating the ASX to open the day up 0.51% on the back of the Fed’s rate cut outlook boosting global sentiment late last week.On the commodities front this morning, oil is trading 2.5% higher at US$74.83/barrel, gold is up 0.9% at US$2509/ounce, and iron ore is down 0.14% at US$98.05/tonne.The Aussie dollar has strengthened to buy 67.97 US cents, 98.26 Japanese Yen, 51.21 British Pence and 1 New Zealand dollar and 9 cents.Trading Ideas:Bell Potter has maintained a buy rating on Rural Funds Group (ASX:RFF) and has raised the 12-month price target on the agricultural property management company from $2.40 to $2.50 following the release of RFF’s FY24 results. For the last financial year, RFF reported AFFO above Bell Potter’s forecasts, 18% revenue growth and strong operating cash flows. The analysts also noted material improvement in the profitability indicators in recent months including cattle, almond and macadamia prices rallying off lows in recent times, with RFF also having a history of delivering net asset value growth through investment, with the next macadamia pillar.Trading Central has identified a bullish signal on Nick Scali (ASX:NCK) following the formati

Reporting Season is in full swing, with 93 companies reporting so far displaying some interesting trends. Retailers like Super Retail Group and Universal Store showcased resilience despite the tough economic conditions, delivering solid FY24 results and strong starts to FY25. Meanwhile the tech sector made waves in the past week with WiseTech Global surging 28% following strong FY24 results.• (0:54): resilience displayed by Super Retail Group in FY24• (2:10): Universal’s impressive results despite the high-cost environment of FY24• (3:46): the strong FY25 outlook for WiseTech Global• (6:51): how the ASX200 performed this week so far• (7:24): the most traded stocks & ETFs by Bell Direct clients• (8:00): economic news to watch out for next week.

The likelihood of a rate cut out of the Fed in September sent Wall Street back into rally mode overnight as investors digested the positive rate outlook in the Fed’s latest FOMC meeting minutes. The S&P 500 rose 0.42% on Wednesday, while the Nasdaq added 0.57%, and the Dow Jones ended the day up 0.14%. Wall Street now awaits further indication of rate cuts out of Fed Chair JeromePowell at his Jackson Hole Economic Symposium speech on Friday. US retail giant Target jumped 11% on Wednesday after reporting Q2 earnings that exceeded Wall Street estimates while department store giant Macy’s tumbled 13% after lowering its full year sales forecast.Over in Europe on Wednesday, markets closed higher on positive sentiment out of the U.S. and ahead of flash PMI figures out for the eurozone on Thursday. The STOXX 600 rose 0.32% on Wednesday, Germany’s DAX added 0.5%, the French CAC gained 0.52%, and, in the UK, the FTSE100 closed the midweek session up 0.12%.Across the Asia region on Wednesday, markets were mostly lower on weaker-than-expected economic data out in the region. Japan’s Nikkei fell 0.3% after Japan’s trade balance data for July indicated higher exports than imports, imports exceeded expectations and exports fell short of economists’ forecasts. Hong Kong’s Hang Seng fell 0.82% on Wednesday, China’s CSI index lost 0.33% and South Korea’s Kospi index ended the day up 0.17%.Locally on Wednesday, the ASX200 reversed losses in afternoon trade as a 5% rally for tech stocks and a 1.72% gain among mining stocks offset losses among energy, REIT and financial stocks.Wisetech global did most of the heavy lifting in the tech-sector’s near 5% rally as the logistics software company soared over 18% on FY24 results including total revenue increasing 15% organically on FY23 to $1.041bn, CargoWise revenue lifting 19% organically to $880.30m, underlying NPAT rising 15% on FY23 to $283.5m, and the final dividend increased 10% to 9.2cps. WiseTech’s results were driven by its recent aggressive acquisition strategy flowing through to improved financial results.What to watch today:Ahead of Thursday’s trading session the SPI futures are anticipating the ASX to open the day up 0.35% tracking global gains overnight.Australian property development company Charter Hall also rocketed over 15.5% on Wednesday after releasing stronger-than-expected FY24 results including operating earnings of $358.7, with operating EPS post-tax of 75.8cps, FY24 statutory loss of $222.1m and distributions to the value of 45.1cps. Investors likely rallied around the REIT stocks after it issued guidance for FY25 with the expectation of FY25 EPS to grow to approximately 79cps, with a 6% increase in distributions.On the commodities front this morning, oil is trading 1.7% lower at US$71.92/barrel, gold is up just 0.02% at US$2513/ounce, and iron ore is down 0.11% at US$97.99/tonne.The Aussie dollar is buying US$0.67 cents, 97.90 Japanese Yen, 51.53 British Pence, and NZ$1.09.Trading Ideas:Bell Potter has increased the 12-month price target on Cedar Woods (ASX:CWP) from $5.75 to $6.50 and maintain a buy rating on the real estate development company following FY24 results coming in as a strong beat including EPS of 49.2cps which beat Bell Potter expectations by 7.4% and the company guided to NPAT growth of 10% for FY25.Trading Central has identified a bullish signal on Hansen Technologies (ASX:HSN) following the formation of a pattern over a period of 54-days which is roughly the same amount of time the share price may rise from the close of $4.68 to the range of $5.15 to $5.25 according to standard principles of technical analysis.

Wall Street’s 8-day winning streak ended overnight as investors took a breather from the comeback rally after the early August mass market sell-off. The Dow Jones fell 0.15% on Tuesday, the S&P500 lost 0.2% and the tech-heavy Nasdaq ended the day down 0.33%. This week, investors are preparing for the Federal Reserve’s annual Jackson Hole Economic Symposium where Fed Chair, Jerome Powell, will speak on Friday. Investors are also likely taking a breather from the recent equities rally ahead of the US Fed’s latest FOMC meeting minutes out on Wednesday US time before assessing their next moves in line with the rate outlook from the Fed at the last rate-decision meeting.Over in Europe on Tuesday, markets closed lower on Tuesday as economic uncertainty weighed on investor sentiment. The STOXX 600 fell 0.46% with all-but the automotive sector ending the day in the red, while Germany’s DAX lost 0.35% on Tuesday, the French CAC fell 0.22% and, in the UK, the FTSE100 ended the day down 1%. Germany’s producer price index fell 0.8% YoY in July, while inflation in the euro zone was 2.6% in July, up from 2.5% in June with both datasets weighing on investor sentiment on Tuesday.Across Asia on Tuesday, markets closed mostly higher tracking Wall Street’s strength on Monday and after China’s loan prime rates were held, in-line with expectations. Japan’s Nikkei led the gains with a 1.8% rise, while South Korea’s Kospi index rose 0.83%, and China’s CSI Index added 0.72%, while Hong Kong’s Hang Seng fell 0.5% on Tuesday.Locally on Tuesday, the ASX200 rose for an 8th straight session on Tuesday, closing the day up 0.2% above 8000 points for the first time since the early-August mass sell-off.What to watch today:The RBA meeting minutes out yesterday revealed the RBA considered raising Australia’s cash rate from the 12-year high 4.35% in August in a bid to return inflation to the target 2-3% range in a more reasonable timeframe. The RBA also didn’t rule out any further rate hikes which saw market gains ease in afternoon trade from the morning rally.The hawkish tone out of the RBA meeting minutes weighed on real estate stocks yesterday with the sector posting a 1.55% decline while a tech and materials rally more than offset the weakness among real estate stocks.Baby Bunting shares soared 8.85% on Tuesday after the baby retailer released FY24 results. Investors overlooked the decline in sales, profit and increase in net debt to buy into the stock on outlook for improved outlook in FY25 amid cost cutting measures and pro forma NPAT expectations of between $9.5m and $12.5m. Plumbing supplies giant Reliance Worldwide also rallied just shy of 9% yesterday on the release of FY24 results including net sales growth of 0.2%. Investors bought in also on strong outlook for FY25 in anticipation for this company to form part of the group of entities that will benefit from an easing interest rate environment. On the commodities front this morning, oil is trading 0.41% lower at US$73.36/barrel, gold is up 0.43% at US$2514/ounce and iron ore is up 0.3% at US$98.10/tonne.The Aussie dollar has strengthened overnight to buy 67.39 US cents, 98.11 Japanese Yen, 51.79 British Pence and 1 New Zealand dollar and 10 cents.Ahead of the midweek trading session on the local bourse, the SPI futures are anticipating the ASX to open the day down 0.55% tracking the global market sell-off overnight. Trading Ideas:Bell Potter has decreased the 12-month price target on Mader Group (ASX:MAD) from $7.60 to $6.80 and maintain a buy rating on the leading provider of specialised contract labour for maintenance of heavy mobile equipment in the resources and civil industries, following the release of Mader’s FY24 results. Near-term outlook supported by mid-cycle fleet renewal in Australia and North America, however, the analyst is cautious that chal

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.

Wall Street closed higher on Friday to end the best week across the major averages in 2024, posting a major comeback from the mass exodus of equities that started August on a very sour note. The Nasdaq rose 0.21% on Friday and 5.2% for the week, the S&P500 added 0.2% on Friday and 3.9% for the week and the Dow Jones rose 0.24% on Friday and 2.9% for the week. Economic data released late last week was the catalyst for Friday’s rally with retail sales data out on Thursday coming in higher than expected while weekly jobless claims fell for a second week in a row. The mega cap rebound peaked last week with Nvidia gaining 18% over the 5-trading days while Apple and Microsoft rose 4% and 3% respectively for the week.Over in Europe markets mostly ended the week on a positive note with the STOXX 600 index adding 0.31% on Friday and a record weekly gain of 2.4%. Germany’s DAX rose 0.77% on Friday, the French CAC added 0.35% and, in the UK, the FTSE100 ended the day down 0.43% following the release of UK inflation data showing an uptick to 2.2% in July and retail sales coming in at a rise of 0.5% for July from a 0.9% decline in June.Across the Asia markets on Friday, Japan’s Nikkei posted its best week in 4-years with a rise of 3.64% on Friday while the index was up 8.67% over the week. South Korea’s Kospi Index rose 1.99% on Friday, Hong Kong’s Hang Seng added 1.81% and China’s CSI index ended the day up 0.11%.Locally on Friday, the ASX200 rose 1.34% despite RBA governor Michele Bullock saying thinking about rate cuts in Australia is still too premature as the US prepares for rate cuts likely in September. For the week, the ASX200 posted a gain of 2.3% as corporate earnings results this reporting season are broadly in-line with expectations.A2 Milk shares rose 5% on Friday after the infant formula company settled its dispute with NZ-based dairy processing company Synlait Milk.Magellan Financial shares also rose 3% on Friday a day after the fund manager released full year results including a 31% jump in statutory net profit after tax and a final dividend declared of 28.6cps.What to watch today:Ahead of the first trading session of the new week the SPI futures are anticipating the ASX to open the day down 0.18%.On the commodities front this morning oil is trading down 0.4% at US$76.35/barrel, gold is down 0.15% at US$2504/ounce, and iron ore is trading 0.75% lower at US$97.81/tonne.The Aussie dollar has strengthened to buy US$0.67 cents, 98.63 Japanese Yen, 51.53 British Pence and NZ$1.10.Trading Ideas:Bell Potter has decreased the 12-month price target on Nufarm (ASX:NUF)and maintain a hold rating on the leading producer of ag-chem products globally following a trading update out of the company with softer-than-expected trading in North America and Europe leading to the company downgrading FY24 EBITDA expectations from $350-$390m to $300m-$330m.And Trading Central has identified a bullish signal on Australian Clinical Labs (ASX:ACL) following the formation of a pattern over a period of 56-days which is roughly the same amount of time the share price may rise from the close of $2.64 to the range of $3.10 to $3.25 according to standard principles of technical analysis.

This week has seen the emergence of key trends driving investor reactions to FY24 results including high-cost pressures depleting margins across the board, retailers beating expectations, and the outlook for FY25 being the most important metric for investors assessing results this reporting season. In this week’s wrap, Grady covers:(0:47) Goodman Group exceeding expectations(2:46) energy leaders providing similar outlooks for FY25(6:02) results from Australia’s biggest bank, CBA(7:03): how the ASX200 performed this week so far(7:46): the most traded stocks & ETFs by Bell Direct clients (8:15): economic news to watch out for next week. 

Wall St closed higher overnight following the release of positive US inflation data. The Dow Jones closed 0.61% higher, the S&P500 closed in the green for the 5th straight day, up 0.38% and the tech-heavy Nasdaq rose slightly by 0.03%.US core inflation data which excludes volatile items such as food and energy were released overnight, coming in at 3.2% year-on-year which was 0.1% lower than the forecast and previous result of 3.3%.Over in Europe, markets closed higher as investors digested key inflation figures coming out of both the US and UK. The STOXX600 closed 0.43% higher overnight with travel and leisure stocks rising 2.89% and mining stocks leading losses, down 0.97%. Germany’s DAX rose 0.41%, the French CAC rallied 0.79% and over in the UK the FTSE100 gained 0.56%.Key UK inflation data was released overnight, coming in below expectations for July at 2.2%, however this is still above the Bank of England’s target of 2%.Locally yesterday, the ASX200 closed 0.3% higher by market close. Gains were led by the health and information technology sectors which rose 1.68% and 1.59% respectively. This was offset by the materials sector which saw a loss of 1.87% 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 0.36% at market open this morning.On the economic calendar today, Australian unemployment data for July will be released with a consensus and forecast to remain at 4.1%, the same as its previous result.On the commodities front this morning, Oil is trading 1.28% lower at 77 US dollars and 35 cents a barrel after the EIA reported an increase in US crude oil inventories that rose by 1.357 million barrels last week. Gold is trading 0.66% lower at 2447 US dollars an ounce and iron ore is trading 0.23% lower at 100 US dollars and 44 cents a tonne.Trading Ideas:Bell Potter maintains a buy rating on Seven Group Holdings (ASX:SVW) and has increased its 12-month price target to $46. The buy rating is maintained by Bell Potter, following the announcement of results by SVW which included an underlying NPAT attributable to owners of $850m, up 30% year-on-year and exceeding Bell Potter’s forecast of $822m. As well as this, SVW’s business and investments are market leaders in their respective industries, with scale, brand and industry expertise underpinning commercial advantages that are hard to replicate by competitors. Bell potter remains positive on the near-term outlooks for mining production, engineering construction and transitional energy markets, hence the buy rating is maintained.Trading central has identified a bearish signal on BlueScope Steel (ASX:BSL), indicating that the stock price may fall from the close of $19.84 to the range of $16.80-$17.40 on a pattern formed over 31 days, according to the standard principles of technical analysis.

Wall Street’s rally has extended into another session on Tuesday as equities move closer to July’s record following the release of PPI inflation data and ahead of the inflation reading out tonight. The Dow Jones rose 1.04%, the S&P500 added 1.68% higher and the tech-heavy Nasdaq ended the day up 2.43%. The US producer price index increased 0.1% in July which fell short of economists’ expectations and further indicates inflation in the US is easing.The US inflation reading out tonight is expected to rise just slightly on last month but remain steady at 3% YoY. If the reading comes in below economists’ expectations’, we will likely see equities rally on Wall Street on Wednesday as the two inflation related readings easing will boost investor sentiment of a soft landing over a recession.Across the European markets overnight, markets closed higher in the region as investors assessed the latest batch of economic data out in the region. The STOXX 600 rose 0.5% led by gains among healthcare stocks, while Germany’s DAX added 0.48%, the French CAC rose 0.35% and, in the UK, the FTSE100 ended Tuesday’s session up 0.3%. UK wage data out overnight showed pay excluding bonuses grew by 5.4% YoY between April and June which is the lowest rate in two years.The UK unemployment rate also fell to 4.2% from 4.4% which fell short of economists’ expectations indicating strength in the UK economy as inflation continues to ease. Across the Asia markets on Tuesday, it was a mostly green finish led by Japan’s Nikkei rising 3.45% after Japan’s Producer Price Index rose 3% in July from the prior year. South Korea’s Kospi Index rose just 0.12% on Tuesday, Hong Kong’s Hang Seng gained 0.32% and China’s CSI index ticked 0.26% higher.The local market rallied 0.17% yesterday despite a near 3% decline in healthcare stocks weighing on market gains as healthcare heavyweight CSL declined on disappointing outlook for FY25.Economic data out yesterday also added to market gains yesterday as wage growth steadied in Q2 which has been a key driver of inflation remaining high, while Westpac consumer confidence data also rose 2.8% to 85 points in August from 82.7 points in July indicating consumer sentiment is slightly improving but remains weaker than historical levels.NAB Business confidence data also out yesterday continued its downward trajectory though in July with a reading of 1 index point, down from 3 index points in June, indicating Australian businesses remain pessimistic about the current state of the market, however, the ease in wages growth and slowing inflation drivers pave the way for a recovery in business confidence over the second half of CY24.Temple & Webster shares shot the lights out yesterday with a 26% rise on the back of stellar FY24 results being released including record revenue of $498m and a strong start to FY25.James Hardie Industries came under pressure yesterday following release of a Q1 FY25 trading update. Despite posting net sales up 4% to $992m, investors sold out on the outlook of weakening demand and easing volumes in the company’s key North American operations.What to watch today:Ahead of the midweek session on the ASX the SPI futures are anticipating the local market to open the day up a sharp 0.73% on the global rally overnight.On the commodities front this morning, oil is trading 2.1% lower at US$78.38/barrel, gold is down 0.4% at US$2466/ounce and iron ore is down 0.6% at US$100.67/tonne. AU$1.00 is buying US$0.66, 97.35 Japanese Yen, 51.28 British Pence and NZ$1.09 cents.Trading Ideas:Bell Potter has maintained a hold rating on Temple & Webster but have raised the 12-month price target on the leading online furniture retailer from $11.40 to $12.20 following the release of the company’s FY24 results yesterday. Bell Potter’s analyst says the price target increase was driven by

Wall St closed mixed overnight as investors await key inflation data, set to be released on Wednesday. The Dow Jones closed 0.36% lower, the S&P 500 closed flat overnight and the tech-heavy Nasdaq saw a rise of 0.21%.Over in Europe, markets closed mixed as investors await inflation data to come out from both the US and the UK. The STOXX600 closed flat overnight with travel and leisure stocks falling 0.8%. This was offset by oil and gas stocks which gained 0.6% after OPEC trimmed its 2024 global oil demand growth forecast. Germany’s DAX had a small gain of 0.02%, the French CAC fell 0.25% and over in the UK the FTSE100 rallied over half a percent.Locally yesterday, the ASX200 rose 0.46% by market close. Gains were led by the information technology and consumer discretionary sectors which rose by 1.93% and 1.91% respectively. This was offset by the materials sector which fell over half a percent by the closing bell.What to watch today:The SPI futures are suggesting that the Australian share market will open flat at the open this morning.On the commodities front this morning, Oil is up 3.84% to 79 US dollars and 78 cents a barrel following the escalating conflict in the middle east which is threatening tighter global oil supplies. As well as this, OPEC have reduced its 2024 global oil demand forecast to 2.11 million barrels per day from 2.25 million barrels. Gold is trading 1.71% higher at 2472 US dollars an ounce and iron ore is trading half a percent higher at 101 US dollars and 26 cents a tonne.Trading Idea:Bell Potter maintains a buy rating on Beach Energy (ASX:BPT) and has a 12-month price target of $1.40. The buy rating is maintained by Bell Potter as the capex is now trending lower and production growth will see free cash flow lift from FY26. BPT’s near-term production growth is a key differentiator when compared with domestic peers. With a positive view on Australian east coast gas and LNG markets, and a strong production and earnings growth outlook, the buy rating is maintained. 

Wall Street continued its recovery-rally on Friday to close higher across the three key averages as weaker-than-expected initial jobless claims data out on Thursday boosted investor hopes that the U.S. will avoid recession in favour of a soft landing. The Dow jones rose 0.13% on Friday, the S&P500 added 0.47% and the tech-heavy Nasdaq ended the day up 0.51%.Over in Europe, markets closed higher in the region taking lead from the global market recovery from Monday’s sharp sell-off. The STOXX 600 rose 0.57% on Friday, Germany’s DAX added 0.24%, the French CAC rallied 0.31%, and, in the UK, the FTSE100 ended the day up 0.28%.Across the Asia markets on Friday the global sea of green extended across Asia’s markets as investors assessed China’s CPI and PPI data and bought back into stocks broadly after the early week mass sell-off. Japan’s Nikkei added 0.56% on Friday, China’s CSI index slid 0.34%, and Hong Kong’s Hang Seng rallied 1.17%.China’s CPI came in at a rise of 0.5% which well exceeded economists’ forecasts of a 0.3% rise indicating the highest reading since February indicating improved domestic demand in the world’s second largest economy.While the inflation reading rising is a positive sign, it is just one move in the right direction, and much more is needed to be done to see a proper correction in the economic health of China. This week we also had Chinese trade balance data out that indicated imports exceeded exports which depleted the trade surplus in the country more than economists’ were expecting, and PPI data out on Friday that fell 0.8% from a year ago, indicating a mixed recovery picture in the region.What to watch today: Locally on Friday the ASX200 ended the day in positive territory, with a modest gain of 1.25%, led by the tech sector rising over 3%, driven by Life360 soaring 18% after upgrading full year revenue guidance and announced global expansion plans.QBE Insurance fell almost 2% on Friday following the release of the company’s FY24 results. Despite the company posting a strong gain in earnings, investors were more focused on the small miss in net profit and guidance than analysts’ were expecting.On the commodities front this morning, oil is trading 0.15% higher at US$76.98/barrel, gold is down just a slight 0.09% at US$2428/ounce and iron ore is up 0.51% at US$101.26/tonne.The Aussie dollar has strengthened over the weekend, with 1 Aussie dollar is buying 65.7 US cents, 96.55 Japanese Yen, 51.34 British Pence and 1 New Zealand dollar and 10 cents.Ahead of Monday’s trading session on the ASX the SPI futures are anticipating the market to open the day up 0.76%.Trading Ideas:Bell Potter has increased the 12-month price target on Life360  (ASX:360) from $19/share to $20.50/share and maintain a buy rating on the location tracking software company following the release of the company’s 2Q24 trading update outlining a beat on revenue expectation, a beat in total paying circles and the company upgraded its guidance for both revenue and EBITDA for FY24.Trading Central has identified a bullish signal on SRG Global (ASX:SRG) following the formation of a pattern over a period of 74-days which is roughly the same amount of time the share price may rise from the close of $0.88 to the range of $1.01 to $1.03 according to standard principles of technical analysis.

Reporting season if off to a rock start. While only a handful of ASX-listed companies have unveiled their FY24 results, a clear trend of rising costs and a gloomy outlook for the coming year is already emerging. Discover which companies are weathering the storm and which are facing headwinds. In this week’s wrap, Grady covers: (0:37): what happened to Transurban this week(1:39): why retailers are facing headwinds (2:52): what to expect from Mirvac Group(5:24): the most traded stocks & ETFs by Bell Direct clients (5:50): economic data to watch out for. 

 Wall St closed higher overnight after new labour market data boosted investors confidence following a sell-off earlier in the week. The Dow Jones rose 1.76%, the S&P 500 had its best day since 2022, rising 2.3% and the tech-heavy Nasdaq gained 2.87%.US jobless claims data was released overnight, coming in below its previous result of 250k to 233k, taking some pressure of concerns on the strength of the labour market.Over in Europe, markets closed mixed as they reacted to the boosted sentiment over in the US. The STOXX600 closed 0.2% higher with sectors staying in mixed territory. Media and chemicals stocks dropped by 0.6%, while travel stocks jumped 1.28% overnight. Germany’s DAX rose 0.37%, while the French CAC fell 0.26% and over in the UK the FTSE100 also fell 0.27%.Locally yesterday, the ASX200 closed 0.23% lower with half of the sectors closing lower. Losses were led by the real estate and materials sectors which fell 1.89% and 1.82% respectively. This was offset by the financial sector which gained just over 1% 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 1.06% at market open this morning.On the commodities front this morning, Oil is trading 0.92% higher at 75 US dollars and 92 cents a barrel, following the release of positive US jobs data. Gold is trading 1.74% higher at 2426 US dollars an ounce and iron ore is trading 1.12% lower at 101 Us dollars and 71 cents a tonne.Trading Ideas:Bell Potter maintains a buy rating on Coronado Global Resources (ASX:CRN) and has a 12-month price target of $1.85. The buy rating is maintained by Bell Potter as CRN’s production and cost profile has reached a turning point, following substantial self-funded investment across its Australian and US operations over the past two years. The company should generate improved free cash flow and shareholder returns going forward, hence the buy rating is maintained.Trading Central has identified a bullish signal on AGL Energy (ASX:AGL), indicating that the stock price may rise from the close of $10.75 to the range of $11.23-$11.33, on a pattern formed over 25 days, according to the standard principles of technical analysis.

 Wall Street’s rollercoaster week extended into the midweek session as stocks went from a rally on Tuesday to a sea of red again on Wednesday as investor fears of recession drive investor sentiment in the current market conditions. The Dow Jones fell 0.6% on Wednesday, the S&P500 dropped 0.77% and the tech-heavy Nasdaq ended the day down 1.05%. Super Micro Computer shares tanked 20.1% after the server company missed Q4 earnings estimates, while Shopify soared over 22% after the e-commerce giant beat expectations for Q2.Over in Europe markets closed higher on Wednesday in the best performance for the region for more than 9-months. The STOXX600 rose 1.56%, Germany’s DAX climbed 1.47%, the French CAC added 1.9% and, in the UK, the FTSE100 ended the session up 1.75%.Puma shares tumbled over 11% on Wednesday after the sportswear company released Q2 earnings and reduced its EBIT forecast fore the full year.The Asia markets extended gains in the region on Wednesday as Japan’s Nikkei continued its recovery with a 1.2% rise, while Hong Kong’s Hang Seng added 1.3%, while China’s CSI index ended the day flat.China’s trade balance data out yesterday indicated a stagnated recovery in the region’s trade for July with imports rising 7.2% in July, while exports rose 7% which missed expectations.Locally on Wednesday, investors took confidence from Wall Street’s recovery on Tuesday into our local midweek session resulting in the key benchmark ending the day up 0.25% as all but two sectors ended the day in positive territory. Investors are focused on corporate earnings and rate outlook, with subdued trading volumes locally indicating investors sit nervously on the sidelines assessing economic outlook and the rate cut forecasts.Arcadium Lithium was the best performer on the ASX200 yesterday after the company announced it will suspend or delay a number of its projects in Argentina and Canada amid the persistently depressed lithium spodumene prices.GQG Partners shares rose 3.3% yesterday after the fund manager reported funds under management increased almost 0.5% MoM to US$156.3bn as of the end of July, implying net inflows of US$13.9bn for the year to date to July 31.What to watch today:Ahead of Thursday’s trading session on the ASX, the SPI futures are anticipating the local market to open the day down 0.43%, taking lead from Wall Street’s turbulence overnight.On the commodities front this morning, oil is trading 3.13% higher at US$75.48/barrel, gold is flat at US$2383/ounce, and iron ore is down 1.27% at US$102.86/tonne.AU$1.00 is buying US$0.65, 95.51 Japanese Yen, 51.52 British Pence and NZ$1.09.Trading Idea:Bell Potter has decreased the 12-month price target on Neuren Pharmaceuticals (ASX:NEU) from $28 to $25 but maintain a buy rating on the biotech company developing drugs and treatments for key neurodevelopmental disorders, following the release of the company’s Q2 results including Daybue sales rising 11% QoQ to US$84.6m and treatment persistency continuing to track towards 50% long-term. The decrease in the price target by Bell Potter’s analyst was due to the company’s distribution partner, Acadia, decreasing the CY24 sales guidance of Neuren’s Daybue drug to US$340-US$370m from US$370m to US$420m.

Over in the US on Tuesday the steep sell-off of the previous three sessions took a pause with stocks recovering some losses, as investors took a pause from the recession-fear-driven pull-back. The Dow Jones rose 0.76% on Tuesday, the S&P500 rose 1.04% and the tech-heavy Nasdaq ended the day up 1.03%. US investors began the US Market correction last Friday after US jobs data came in weaker-than-expected, which sparked the broad market tumble for 3 sessions amid rising recession fears. The rally on Tuesday has identified key areas of the market that still have growth potential including small-caps and rate-sensitive groups.Across European markets overnight, markets in the region joined the global market rebound on Tuesday to close mostly higher in Europe. The STOXX 600 rose 0.2% on Tuesday, Germany’s DAX added 0.09%, the French CAC declined 0.27%, and, in the UK, the FTSE100 ended the day up 0.23%. In the Asia region on Tuesday, Japan’s Nikkei recovered from its worst session since the Black Monday crash of 1987 on Monday, to close up 10.23% on Tuesday as heavyweight stocks in the region including Softbank Group Corp and Mitsui rose 12.06% and 10.43% respectively. Japan’s markets have been sliding of late since the Bank of Japan raised rates to their highest level since 2008 on July 30, causing the yen to strengthen which placed pressure on equities.What to watch today: The local market tanked over 3% on Monday before recovering to close 0.41% higher on Tuesday, taking no-lead from Wall Street’s worst session in years on Monday night. Local investors yesterday were more focused on the RBA’s rate decision and key corporate earnings results to provide outlook for FY25.The RBA maintained the nation’s cash rate at a 12-year high 4.35% for yet another period as was widely expected as key inflation drivers remain stubbornly sticky including housing inflation, food and non-alcoholic beverages, and clothing and footwear, in addition to services, and wages inflation driving up the nation’s inflation rate to 3.8% in the June quarter.RBA governor Michele Bullock said yesterday ‘a rate cut is not on the agenda in the near term’ as inflation remains sticky above the 2-3% target range and that the RBA actually considered a raise for August’s meeting before deciding to hold at the current rate. Ms Bullock also pointed out the impacts of sticky overseas inflation and locally, the need to see demand and supply coming back into better balance.On a corporate earnings front, Audinate tanked 36% yesterday after releasing strong FY24 results alongside the outlook for headwinds set to impact earnings in FY25. Investors were more concerned about the outlook of earnings depreciation than the strong results in FY24.Coronado Global Resources shares fell 1.3% on Tuesday after the leading coal producer reported 1H NPAT fell 92% on PCP, while EBITDA tumbled 62% YoY and revenue fell 10% on the PCP. CRN retained CY24 guidance on volumes, cost and CAPEX and attributed the performance dip on lower coal prices and lower sales.On the commodities front this morning oil is trading 0.5% higher at US$73.03/barrel, gold is down 0.4% at US$2395/ounce and iron ore is up 0.17% at US$104.18/tonne.The Aussie dollar is buying 65.15 US cents, 94.93 Japanese Yen, 51.02 British Pence and 1 New Zealand dollar and 10 cents.Ahead of the midweek trading session on the ASX the SPI futures are anticipating the ASX to open the day down 0.25%.Trading Ideas:Bell Potter has increased the 12-month price target on Lotus Resources (ASX:LOT) and maintain a speculative buy rating on the uranium-focused miner with projects in Africa following the company’s announcement that it has signed the Mine Development Agreement with the Malawi Government for the restart of the Kayelekera (Kay-el-e-kera) Uranium Mine (KM). Bell Potter’s analyst sees posit

A weaker-than-expected jobs report out in the US on Friday sparked a broad sell-off to end the week on Wall Street as recession fears continue to rise. The Dow Jones fell 1.51% on Friday, the S&P500 lost 1.84% and the tech-heavy Nasdaq tumbled 2.43%. The unemployment rate in the US rose to the highest level since October 2021 in July to a rate of 4.3%, while nonfarm payrolls grew by just 114,000 last month. The bond market was flooded on Friday as investors seek out safe-haven assets, which saw the US 10-year Treasury Yield fall to its lowest level since December.Second quarter results out of Amazon led to a sell-off in the tech giant after the company missed expectations and issued a disappointing forecast which signals easing growth in the AI and tech space.Intel also tanked 26% after announcing weak guidance and widespread layoffs.Over in Europe, the global sell-off on Friday extended into the region with the STOXX 600 ended the day down 2.82% led by financial services and banking stocks falling 5.22% and 4.35% respectively. Germany’s DAX ended Friday’s session down 2.33%, the French CAC fell 1.61% on Friday and, in the UK, the FTSE100 closed out the week with a loss of 1.31%. The fall in the FTSE100 came despite the Bank of England cutting interest rates for the first time since December 2020 on Thursday last week.Across Asia on Friday, it was a sea of red led by Japan’s Nikkei tumbling 5.81% marking its worst session since March 2020 as Daiwa Securities tumbled 18.85%. Hong Kong’s Hang Seng ended Friday’s session down 2.32%, South Korea’s Kospi index fell 3.65% as inflation data came in higher than expected for July, and China’s CSI index ended the day down 1.02%.Locally on Friday, the ASX200 fell 2.11% in its worst day since March 2023, retreating from the all-time high reached on Thursday. For the week though the ASX200 notched a slight 0.28% gain as communications services stocks did most of the heavy lifting with a 2.14% rise. Retailers took the biggest hit on Friday as investors assessed weakening economic conditions at home and overseas, with Wesfarmers falling 2.9%, and Premier Investments ending the day down 2.2%. Block Inc was a rare winner on Friday with a rise of 5.1% after the company flagged a new US$3bn share buyback and upgraded its full-year guidance.What to watch today:Ahead of Monday’s session on the ASX the SPI futures are anticipating the market to open Monday’s session down by a large 1.46%.On the commodities front this morning oil is trading 3.66% lower at US$73.52/barrel, gold is down 0.12% at US$2442/ounce and iron ore is up 1.14% at US$104/tonne.AU$1.00 is buying US$0.65, 96.32 Japanese Yen 50.82 British Pence and NZ$1.09.Trading Ideas:Bell Potter has significantly increased the 12-month price target on Clarity Pharmaceuticals (ASX:CU6) from $4 to $10 and maintain a speculative buy rating on the cancer imaging and therapy treatment development company following the release of a Q4 cashflow statement and quarterly activities report out of the company. Gross cash burn was around $14m, net cash burn was inclusive of $10m in R&D credit was around $4m, and Bell Potter’s analyst estimates the cash runway extends deep into CY26. The company continues to focus on two trials in prostate cancer which continue to show outstanding safety with good indications of efficacy.And Trading Central has identified a bearish signal on Mirvac Group (ASX:MGR) following the formation of a pattern over a period of 17-days which is roughly the same amount of time the share price may fall from the close of $2.10 to the range of $1.71 to $1.79 according to standard principles of technical analysis.And that’s all for this Monday, be sure to look out for FY24 results out of Cettire, AGL Energy and Arcadium Lithium out tomorrow.

Australia’s corporate landscape is facing a perfect storm. Rising costs, fierce competition, and softening economic conditions are putting pressure on companies across the board. The upcoming earnings season will reveal the full extent of these challenges. Discover the key trends and potential investment opportunities in this week’s video.In this week’s wrap, Sophia covers:(0:11): how economic headwinds are impacting corporate profits(0:41): why the market’s attention is shifting towards FY25(1:32): why sector performance is expected to diverge(2:10): how the ASX200 performed this week so far(3:13): the most traded stocks & ETFs by Bell Direct clients(3:43): economic news to watch out for next week.

Wall St soared overnight as the Federal Reserve kept interest rates unchanged, while hinting at possible cuts in September. The Dow Jones rose 0.24%, the S&P500 had its best day since February, rising 1.58% and the tech-heavy Nasdaq gained 2.64%.In terms of US stocks, tech giants made a big comeback, led by Nvidia which rallied 12.8% overnight. Other stocks including Apple, Meta Platforms and Amazon also finished Wednesday’s trading session higher.Over in Europe, markets closed higher after the euro zone inflation rose unexpectedly. The STOXX600 closed 0.79% higher, led by tech stocks which gained 2.62%. Germany’s DAX rose over half a percent, the French CAC closed 0.76% higher and over in the UK the FTSE100 ended 1.13% in the green by the closing bell.Locally yesterday, the ASX200 closed Wednesday’s trading session 1.75% higher with all sectors finishing in positive territory. Gains led by the information technology and energy sectors which rose 2.52% and 2.47% respectively.What to watch today:The Australian share market is set to open higher, with the SPI futures suggesting a rise of 0.21% by market open this morning.On the commodities front this morning, Oil is trading up 5.23% at US$78.64/barrel as fears of supply disruptions increase following further tensions in the Middle East. Gold is trading 1.55% in the green at US$2447/ounce and iron ore is trading 0.32% lower at US$106.25/tonne.Trading Ideas:Bell Potter maintains a speculative buy rating on Frontier Digital Venture (ASX:FDV) and has a 12-month price target of $0.74. The speculative buy rating is maintained by Bell Potter as FDV has several significant growth levers within its portfolio and platforms coming out of a CY23 focused on cash flows and margins. There is a favourable view of FDV’s strategy of targeting underpenetrated emerging markets with marketplace platforms and FDV emerging profitable with a positive EBITDA and operating cash flows has helped maintained Bell Potter’s speculative buy rating.And Trading Central has identified a bullish signal in Nickel Industries (ASX:NIC), indicating that the stock price may rise from the close of $0.85 to the range of $1.11-$1.17, on a pattern formed over 51 days, according to the standard principles of technical analysis.

Wall St closed mixed overnight as investors dropped some big name tech stocks before earnings reports are released. The Dow Jones gained half a percent, the S&P500 fell half a percent and the tech-heavy Nasdaq fell 1.28%.Investors pulled out of some big-name tech stocks overnight including Nvidia which dropped 7%, while Microsoft fell nearly a percent. Other stocks to decline overnight include Amazon, Netiflix and Meta Platforms.Early tomorrow morning, the US Federal Reserve interest rate decision will be announced which has a consensus and forecast to be maintained at its current rate of 5.5% Over in Europe, markets closed higher as earnings seasons reports continue to be released. The STOXX600 rose 0.53% overnight with the majority of sectors closing Tuesday’s trading session in the green. Gains were led by construction and materials stocks which added 1.37%, whilst mining stocks fell 1.22%. Germany’s DAX rose 0.49%, the French CAC gained 0.42% and over in the UK, the FTSE100 fell 0.22% by the closing bell.Locally yesterday, the ASX200 closed 0.46% lower with most sectors closing in the red. Losses were led by the materials and information technology sectors which fell 1.93% and 0.9% respectively. This was slightly offset by the consumer discretionary sector which rose by 0.22% by the end of the trading session.What to watch today:The Australian share market is set to open higher, with the SPI futures suggesting a rise of 0.37% at market open this morning.In terms of economic data today, CPI indicator data will be released at 11:30 this morning with a forecast of 3.9%, with its previous result having been at 4%.On the commodities front this morning, Oil is trading 0.78% lower at US$75.22/barrel as demand lowers from top consumers such as China. Gold is trading 1.25% higher at US$2410/ounce and iron ore is trading 0.25% lower at US$106.59/tonne.Trading Ideas:Bell Potter maintains a speculative buy rating on RMA Global (ASX:RMY) and has a 12-month price target of $0.10. The buy rating is maintained by Bell Potter as the key driver for shareholder value in RMY remains the US market, where a decline in interest rates could potentially drive an uplift for house sales and as a result increase activity on RMY’s platform and subscriptions. The recommendation and valuation is based on penetrating the large US market which presents a significant opportunity, hence the speculative buy rating is maintained.And Trading Central has identified a bearish signal on Arena REIT (ASX:ARF), indicating that the stock price may fall from the close of $3.77 to the range of $3.49-$3.55, on a pattern formed over 28 days, according to the standard principles of technical analysis.

Wall St closed mixed to start the trading week as investors prepare for the start of earnings season. The Dow Jones closed 0.12% lower overnight, the S&P500 gained 0.08% and the tech-heavy Nasdaq ended Monday’s trading session 0.07% higher.Over in Europe, markets closed lower as investors look ahead to European Central Bank meetings later this week. The STOXX600 closed 0.18% lower with the majority of sectors trading in the red. This was led by autos which fell 1.35%, whilst healthcare stocks rose 0.66%. Germany’s DAX fell over half a percent, the French CAC lost nearly 1% and over in the UK the FTSE100 gained 0.08% by the closing bell.Locally yesterday, the ASX200 closed 0.86% higher with all sectors closing in the green. Gains were led by the information technology and communication services sectors which rose 1.53% and 1.4% respectively.What to watch today:The Australian share market is set to open lower, with the SPI futures suggesting a fall of 0.69% at market open this morning.On the commodity front this morning, Oil is trading 1.62% lower at US$75.91/barrel, gold is trading 0.12% lower at US$2383/ounce and iron ore is trading 0.26% lower at US$106.86/tonne.Trading Idea:Bell Potter maintains a buy rating on Burgundy Diamond Mines (ASX:BDM) and has a 12-month price target of $0.28. The buy rating is maintained by Bell Potter as they expect positive news flow over the second half of 2024 as BDM report on mine life extension activities and continue to optimise existing operations. As well as this, their Ekati diamond mine is a highly strategic asset within the luxury goods value chain, hence the buy rating is maintained.

A week of mixed sentiment ended with a soaring rally on Friday as investors digested fresh inflation data out in the U.S. The Dow Jones rallied 1.64%, the S&P500 climbed 1.1% and the tech-heavy Nasdaq ended the day up 1.03%. The Fed’s preferred measure of inflation, the personal consumption expenditures price index rose 0.1% on a monthly basis in June and 2.5% yearly, with both readings falling in line with economists’ expectations. This data comes as GDP growth rate data for the US out last Thursday came in at a growth of 2.8% in Q2 which was stronger than economists were expecting, indicating the world’s largest economy continues to grow whilst taming inflation.Over in Europe markets closed higher on Friday as the global market sell-off eased. The STOXX600 rose 0.9%, Germany’s DAX added 0.65%, the French CAC rose 1.22%, and, in the UK, the FTSE 100 ended the day up 1.21%.Across the Asia markets on Friday it was a mostly green end to a volatile week, despite Japan’s Nikkei closing lower for an 8th straight session as Tokyo’s headline inflation slowed slightly to 2.2% in July and corporate earnings weighed on investor sentiment in the region as Nissan fell 3.88% after reporting disappointing results for Q1. Hong Kong’s Hang Seng rose 0.34% on Friday, China’s CSI Index added 0.29% and South Korea’s Kospi index ended the day up 0.78%.Locally on Friday the ASX200 rose 0.76% led by the materials sector jumping 1.42% while every other sector aside from staples stocks ended the day in the green.Mineral Resources jumped 3.5% on Friday after the mining services and production giant said it was on track to achieve its output guidance for FY24.Bellevue Gold tumbled 21% on Friday after the gold producer tracking the easing price of gold on Friday and after the company announced it has received firm commitments for a $150m fully underwritten institutional placement with plans to use the proceeds for paying down debt, unlocking free cash flow and to support accelerated exploration and growth.What to watch today:Ahead of the first trading session of the last trading week of July, the SPI futures are anticipating the ASX to open the day up 0.76% on the back of Wall Steet’s rally on Friday.On the commodities front this morning oil is trading 0.27% higher at US$77.38/barrel, gold is up 0.38% at US$2395/ounce and iron ore is down 0.26% at US$106.86/tonne.AU$1.00 is buying US$0.65, 100.87 Japanese Yen, 50.88 British Pence and NZ$1.11.Trading Idea:Bell potter has increased the 12-month price target on Polynovo (ASX:PNV) from $2.05 to $2.52 and maintain a hold rating on the healthcare company amid long-term growth opportunities for the company. Numerous factors have contributed to the re-rating over recent months including execution on the sales roll out in the US being flawless, while each of the peers have endured a period of faltering growth resulting in adverse valuation adjustments. FY25 revenues are expected to increase by around $35m being a similar quantum increase in FY24 with the net result being ROE and return on cash invested capital beginning to look very attractive leading to the price target increase according to Bell Potter’s analyst. The analyst said a reasonable amount of growth is already priced in hence the hold rating.

The upcoming report season will provide valuable insights into how ASX-listed companies fared over the financial year. As companies unveil their FY24 results, investors will be keen to assess their performance against a backdrop of rising interest rates, persistent inflation, and a slowing Chinese economy. This video explores key trends, sector outlooks, and potential market movers. In this week’s wrap, Grady covers:(0:11): the economic impact on company earnings(1:11): why all eyes are on large-cap stocks(2:09): an analysis on sector performance & top stock picks(3:35): how the ASX200 performed this week so far(4:41): the most traded stocks & ETFs by Bell Direct clients(5:09): economic news items to watch out for.

Wall St closed lower overnight as the Nasdaq continued it’s losses from the previous trading session. The Dow Jones rose 0.2%, the S&P500 fell over half a percent and the tech-heavy Nasdaq dropped 0.93%.US GDP data was released overnight at 2.8% quarter on quarter, 0.3% higher than the forecast of 2.5%In terms of US stocks, investors moved away from some big AI names including Nvidia which fell 1.7%, Microsoft that lost 2.5% and Alphabet which declined by more than 3%.Over in Europe, markets closed lower following the sell-off in Wall Street with the STOXX600 ending Thursday trading session 0.72% lower. Germany’s DAX fell 0.48%, the French CAC slid 1.15% and over in the UK the FTSE100 gained 0.4% by market close.What to watch today:The Australian share market is set to open higher, with the SPI futures suggesting a rise of 0.42% at market open this morning.On the commodities front this morning, Oil is trading over 1% higher at 78 US dollars and 38 cents a barrel following stronger than expected US economic growth and a decline in crude inventories. Gold is trading 1.43% lower at 2364 US dollars an ounce and iron ore is trading 0.3% lower at 107 US dollars and 47 cents a tonne.Trading Ideas:Bell Potter maintains a buy rating on MedAdvisor (ASX:MDR) and has a 12-month price target of $0.64. The buy rating is maintained by Bell Potter following another strong quarter of topline growth in the US, Australia and New Zealand, while gross margins also improved. Q4 revenue was up 32% on the previous corresponding period with full-year revenue up 25%, hence the buy rating is maintained.And Trading Central has identified a bullish signal on Spark New Zealand (ASX:SPK), indicating that the stock price may fall from the close of $3.73 to the range of $3.54-$3.58, on a pattern formed over 40 days according to the standard principles of technical analysis.

Wall Street crumbled on Wednesday as underwhelming results out of two of the tech mega caps weighed on investor sentiment around valuations at the current levels. The Dow Jones fell 1.25% on Wednesday while the Nasdaq and S&P500 had their worst sessions since 2022 with each indices tumbling 2.31% and 3.64% respectively. Shares in Google parent company, Alphabet, fell 5% despite the tech giant beating on the top and bottom-line expectations for Q2. Investors may have sold out of Alphabet after YouTube advertising revenue came in below expectations.Tesla shares tanked 12.3% for the EV giant’s worst session since 2020 on weaker-than-expected results and a 7% YoY decline in auto revenue as appetite for EVs continues to decline globally.Across the European markets overnight, markets also closed in the red as investors digested the latest release of corporate earnings results. The STOXX 600 fell 0.6%, Germany’s DAX lost 0.92%, the French CAC declined 1.12% and, in the UK, the FTSE100 ended Wednesday’s session down 0.17%. Deutsche Bank shares fell over 8% on Wednesday after the bank snapped a 15-quarter profit streak in the latest quarter, while LVMH shares fell 4.7% on Wednesday after the luxury fashion house missed second quarter revenue expectations.Markets across Asia closed lower on Wednesday tracking the global market sell-off, with Hong Kong’s Hang Seng falling 1.1% while China’s CSI declined 0.63% and Japan’s Nikkei ended the day down 1.11%The local market eased on Wednesday to post a 0.1% loss tracking Wall Street’s negative close on Tuesday and as local energy and REIT stocks weighed on the key index during the midweek session.Australia’s Judo flash manufacturing PMI data out yesterday indicated a slight growth in manufacturing PMI for July from 47.2 points in June to 47.4 points in July which beat economists’ expectations of a dip to 47 points as input costs increased at a softer pace than average while selling prices rose slightly. Australia’s Judo flash services PMI business activity index data was also out yesterday and came in at a decline to 50.8 points in July from 51.2 points in June, which fell short of economists’ expectations of a slight decline to 50.9 points. The services PMI reading fell in July as the sector faced a renewed decline in orders amid decreased client demand and a drop in international business in 2024.What to watch today:Ahead of Thursday’s trading session, the SPI futures are anticipating the ASX to open the day down 0.95% tracking the global market sell-off overnight.On the commodities front this morning, oil is trading 0.02% higher at US$77.455/barrel, gold is down 0.52% at US$2395/ounce and iron ore is down 0.27% at US$108.16/tonne.The Aussie dollar has further weakened overnight to buy US$0.65 cents, 101.18 Japanese yen, 51.88 British pence and NZ$1.11.Trading Ideas:Bell Potter has increased the rating on Pantoro (ASX:PNR) from a hold to a buy and maintain a 10cps 12-month price target on the West Australian gold production and development company following the release of the company’s June quarter report which included a second consecutive quarter of record production for the Norseman Gold Project. Bell Potter’s analyst sees recent share price depreciation, Pantoro’s unhedged gold leverage to the rising gold price, and production growth in FY25 as reasons for the upgrade to a buy.And Trading Central has identified a bearish signal on Lendlease (ASX:LLC) following the formation of a pattern over a period of 19-days which is roughly the same amount of time the share price may fall from the close of $6 to the range of $5.15 to $5.30 according to standard principles of technical analysis.

Wall Street closed lower on Tuesday as a morning rally eased in the last hour of trade to see the key indices post slight losses as investors continue to assess second quarter earnings reports. 2 of the magnificent 7, Tesla and Alphabet, released results after the closing bell on Tuesday with Alphabet reporting better-than-expected results while Tesla saw its profit tumble 45% on easing EV demand. Investors are digesting the combination of results, economic data and US political developments at present which is likely to continue driving investor moves for some time to come.UPS shares fell 12% on Tuesday after the global shipping and logistics service provider released results that fell short of expectations on both the top and bottom lines, while General Motors beat expectations for Q2, however, shares in the automaking giant declined 6.4% on Tuesday as the company delayed plans for its electric and autonomous vehicles.Investors grew wary of tech valuations late last week, prompting a mass sell-off in the high growth sector, in favour of opportunities in the small cap space.In Europe overnight, markets closed mixed as investors continued assessing earnings reports from companies across the region. The STOXX 600 rose 0.13%, while Germany’s DAX added 0.8%, the French CAC fell 0.31% and, in the UK, the FTSE100 ended the day down 0.38%.Across the Asia markets on Tuesday is was a mixed session with Japan’s Nikkei adding 0.3% while Hong Kong’s Hang Seng fell 0.94%, and China’s CSI index fell 2.14%.Locally on Tuesday, the ASX has had a positive start to the week as investors looked for opportunities in the small cap space while also buying back into the AI-driven tech sector. Locally on Tuesday the ASX200 rose 0.5% driven by the tech, healthcare, industrials and consumer discretionary sectors posting gains over 1% while energy stocks tumbled 2% on the sliding price of key commodities.Woodside shares slipped on Tuesday after the mining giant released second quarter results including quarterly production down 1% on Q1 due to planned maintenance activities, weather impacts and unplanned outages at Wheatstone and Julimar. Quarterly revenue rose 2% on Q1 though to $3.033bn, and Woodside maintained full year guidance. Investors may have been hitting the sell button yesterday after Woodside increased total estimated costs of the Scarborough Energy project by 4% to US$12.5bn.What to watch today:Ahead of the midweek trading session here in Australia the SPI futures are anticipating the ASX to open Wednesday’s session up 0.14% extending on yesterday’s rally ahead of the release of Judo Bank Manufacturing and Services PMI flash data for July out this morning.On the commodities front this morning, oil is trading 1.53% lower at US$77.20/barrel, gold is up 0.35% at US$2404/ounce and iron ore is down 0.3% at US$108.16/tonne.AU$1.00 is buying US$0.66, 102.98 Japanese Yen, 51.33 British Pence and NZ$1.11.Trading Ideas:Bell Potter has downgraded the rating on DroneShield (ASX:DRO) from a buy to a hold and have increased the 12-month price target on the counter drone technology company from $1 to $1.60 noting all eyes are on H2 for DroneShield. Bell Potter sees the bullish long-term view of DroneShield remains unchanged, however, at its current valuation, DRO will attract increased scrutiny over its short-term performance and future contract announcements thus the analyst anticipates continued share price volatility.And Trading Central has identified a bullish signal on Centuria Capital (ASX:CNI) following the formation of a pattern over a period of 20-days which is roughly the same amount of time the share price may rise from the close of $1.69 to the range of $1.95 to $2.01 according to standard principles of technical analysis.

Wall St closed higher overnight as Nvidia shares led a turnaround on tech stocks and the S&P500 rose in its best day since early June. The Dow Jones gained 0.32%, the S&P 500 advanced over 1% and the tech-heavy Nasdaq rose by 1.58%.In terms of US shares, Nvidia soared by 4.8% following their 8% decline last week. Other tech stocks including Alphabet and Meta also gained more than 2% each.Over in Europe, markets closed higher as they react to the news that Joe Biden has dropped out of the US presidential race. The STOXX600 closed 1% higher with the majority of sectors finishing in the green. The only stocks which closed lower on Monday were travel and leisure and retail stocks which fell 2.33% and 0.03% respectively. Germany’s DAX rose 1.29%, the French CAC rallied by 1.16% and over in the UK, the FTSE100 ended Monday’s trading session 0.53% higher.Locally yesterday, the ASX200 closed half a percent lower with the vast majority of sectors closing in the red. Losses were led by the energy and materials sectors which fell 1.62% and 0.86% respectively. This was slightly offset by the consumer staples sector which rose 0.65% 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 0.70% at market open this morning.On the commodities front this morning, Oil is trading 0.52% lower at US$78.23/barrel, following renewed optimism for a ceasefire in Gaza which could as a result increase global oil supply. Gold is trading 0.02% higher at US$2395/ounce and iron ore is trading 0.26% lower at US$108.45/tonne. Trading Ideas:Bell Potter maintains a buy rating on Universal Store Holdings (ASX:UNI) and has increased its 12-month price target to $6.65. The buy rating is maintained by Bell Potter due to the company’s store roll-out & brand growth strategy, gross margin expansion via private label product penetration and earnings trajectory through to FY25 and FY26.And Trading Central has identified a bearish signal in Star Entertainment Group (ASX:SGR), indicating that the stock price may fall from the close of $0.50 to the range of $0.44-$0.46, on a pattern formed over 41 days according to the standard principles of technical analysis.

Wall Street closed sharply lower on Friday as investors dumped mega cap stocks in favour of smaller caps following the broad rally that sent key indices and valuations to record highs in recent months. The Dow Jones fell 0.93%, the S&P500 declined 0.71%, the tech-heavy Nasdaq ended the day down 0.81%, but the small-cap focused Russell 2000 climbed 1.68% on Friday.CrowdStrike, the cybersecurity company behind the global IT outage on Friday, tanked 11.1% following the outage.Over in Europe, markets closed lower as the global IT outage hit businesses in the region. The STOXX 600 fell 0.77%, marking a fifth straight losing day, as the travel sector plunged 2.07% amid widespread flight disruptions on the back of the IT outage. Germany’s DAX ended Friday’s session down 0.45%, the French CAC lost 0.7% and, in the UK, the FTSE100 ended the day down 50 points.Across the Asia region tracked broad global market declines with Japan’s Nikkei falling 0.4% on Friday, while South Korea’s Kospi index declined 1.6% and Hong Kong’s Hang Seng ended the day down 2.1%.Locally on Friday, the ASX200 fell 0.81% for a third straight losing day as the big miners weighed on the key index, tracking the declining price of key commodities, while tech stocks also tracked the sharp sell-off in tech stocks on the Nasdaq on Thursday. The local economy was thrown into chaos mode on Friday amid the global Microsoft system outage sparked by a system update run by cybersecurity company CrowdStrike in the early hours of Friday morning US time. The outage hit thousands of businesses and almost every sector was impacted. For the week, the ASX200 posted a slight gain of 0.15% as real estate, consumer staples and healthcare stocks posted gains over 1% which offset the heavy losses among materials and tech stocks.What to watch today:Ahead of the first trading session of the new week, the SPI futures are anticipating the ASX to open the day down 0.84% tracking Wall Street’s broad large cap sell-off on Friday.On the commodities front this morning oil is trading 0.53% higher at US$80.43/barrel, gold is up 0.63% at US$2410/ounce and iron ore is down 0.26% at US$108.45/tonne.AU$1.00 dollar is buying US$0.67, 105.37 Japanese Yen, 51.74 British Pence and NZ$1.11.Trading Ideas:Bell Potter has increased the rating on Whitehaven Coal (ASX:WHC) from a hold to a buy and have increased the 12-month price target from $8.90 to $9.90 as the analyst sees tailwinds incoming for the thermal and metallurgical coal producer. The company reported Q4 results last week outlining higher quarterly production, and higher managed saleable production than Bell Potter was expecting. 1H25 earnings are expected to strengthen at the same time stronger met coal demand is expected to provide additional earnings tailwinds.And Trading Central has identified a bearish signal on Sigma Healthcare (ASX:SIG) following the formation of a pattern over a period of 26-days which is roughly the same amount of time the share price may fall from the close of $1.31 to the range of $0.99 to $1.05 according to standard principles of technical analysis.

The Australian market has been busy this week as we approach the FY24 results season. Some companies have provided early indications of their performance, while others have offered updates on their Q4 trading and future outlook. Which names stood out this week and how did this impact the local market as we head towards the mid-July?In this week’s wrap, Grady covers:(0:31): why Accent Group soared this week(2:02): the sell-off in BHP Group(3:12): Domino’s worldwide strategic review(4:52) the winning and losing stocks of the week(5:43): the most traded stocks & ETFs by Bell Direct clients(6:09): economic data to watch next week.

Wall St closed lower overnight as investors continue the sell-off in some big technology names. The Dow Jones fell 1.29%, the S&P500 lost 0.78% and the tech-heavy Nasdaq ended Thursday’s trading session 0.7% lower.Over in Europe, markets closed lower following the announcement that the European Central Bank will keep interest rates unchanged. The STOXX600 closed 0.16% in the red, its fourth successive day closing lower with technology stocks losing 1.8% where as autos stocks rose 1.23%. Germany’s DAX fell 0.45%, where as the French CAC and the UK’s FTSE100 both gained 0.21%.Locally yesterday, the ASX200 fell 0.27% with the majority of sectors ending Thursday’s trading session in the red. Losses were led by the information technology sector which lost 3.39%. This was slightly offset by the utilities sector which closed 0.35% higher.The unemployment rate for June was released yesterday at 4.1%, 0.1% higher than the 4% consensus and forecast.What to watch today:The Australian share market is set to open lower, with the SPI futures suggesting a fall of 1.09% at market open this morning.On the commodities front this morning, Oil is trading 0.59% lower at US$82.36/barrel, gold is trading 0.65% lower at US$2445/ounce and iron ore is trading 0.41% lower at US$108.94/tonne.Trading Ideas:Bell Potter maintains a buy rating on Duratec Limited and has a 12-month price target of $1.52. Duratec (ASX:DUR) is a WA based specialist engineering contractor, with a strong reputation in the asset protection and specialist construction space throughout Australia. The buy rating is maintained by Bell Potter as the company has good options for long term growth, particularly in the defence space and the current share price of $1.24 is an attractive entry point.And Trading Central has identified a bullish signal in Adairs Limited (ASX:ADH), indicating that the stock price may rise from the close of $1.92 to the range of $2.19-$2.25, on a pattern formed over 51 days according to the standard principles of technical analysis.

Wall St closed mixed overnight as the Nasdaq posted its worst day since 2022. The Dow Jones rose 0.59%, the S&P500 fell 1.39% and the tech-heavy Nasdaq plummeted 2.77%. This was the first time since 2001 in which the Nasdaq lost more than 2.5% in a trading session which saw meta platforms fall 5.7% and tech giants Netflix and Microsoft both also losing 1% each.Over in Europe, markets closed lower as tech stocks ended the trading session in negative territory. The STOXX600 closed 0.43% in the red with most major sectors closing mixed on Wednesday. Germany’s DAX fell 0.44%, the French CAC dropped 0.12% whilst over in the UK the FTSE100 rallied by 0.28%.Locally yesterday, the ASX200 ended Wednesday’s trading session 0.73% in the green with all major sectors finishing the day positively. Gains were led by the real estate and information technology sectors which rose 1.49% and 1.24% respectively.What to watch today:The Australian share market is set to open lower, with the SPI futures suggesting a fall of 0.54% at market open this morning.On the commodities front this morning, Oil is trading 2.93% higher at 83 US dollars and 12 cents a barrel, rebounding from a three-day losing streak.Gold is trading 0.38% lower at 2458 US dollars an ounce and iron ore is trading 0.26% lower at 109 US dollars and 39 cents a tonne.Trading Ideas:Bell Potter maintains a speculative buy rating on PYC Therapeutics (ASX:PYC) and has an unchanged 12-month price target of $0.17. The speculative buy rating is maintained by Bell Potter as PYC have recently made strong progress across two Phase 1 clinical trials in which it is believed PYC are on the cusp of seeing patients respond to treatment which would provide considerable de-risking and value inflection for the lead asset and broader platform.And Trading Central has identified a bullish signal on Lindsay Australia (ASX:LAU), indicating that the stock price may rise form the close of $0.97 to the range of $1.12-$1.16, on a pattern formed over 55 days, according to the standard principles of technical analysis.

Wall Street extended its broad bull market rally into Tuesday with some key indices hitting record highs as investor optimism rises on rate cut hopes. The Dow Jones soared 1.85% to a fresh record high of 40,954.48, while the tech-heavy Nasdaq rose just 0.2% and the S&P500 ended the session 0.64% higher. Corporate earnings results have also started being released in the US which is adding fuel to the bull market. The Bank of America and Morgan Stanley both released results overnight that beat analysts’ forecasts and saw shares in the companies rise 5% and nearly 1% respectively.Sentiment was boosted overnight by Fed chair Jerome Powell saying that Q2 economic data has bolstered confidence that inflation is cooling, with markets now pricing in two rate cuts this year, with the markets now pricing in a 100% chance of a rate cut in September.In Europe overnight, markets in the region closed lower as investors responded to key corporate earnings results and assessed the impact of high interest rates on both outlook and earnings across the board. The STOXX 600 fell 0.21% on Tuesday, Germany’s DAX lost 0.39%, the French CAC fell 0.69%, and, in the UK, the FTSE100 ended the day down 0.22%.Key fashion houses took the biggest hit in Europe overnight with Germany’s Hugo Boss tumbling 7.5% after the company cut its full-year sales outlook, while the U.K.’s Burberry lost 5.2% a day after the company issued a profit warning on weak luxury demand.Across the Asia region on Tuesday, it was a mixed session across markets with Hong Kong’s Hang Seng falling 1.6%, while China’s CSI ended the day up 0.63%, Japan’s Nikkei gained 0.2% on Tuesday and India’s Nifty 50 hit an all time high, gaining 0.2%.The local market slipped from record highs on Tuesday to close the day down 0.23% as the big iron ore miners weighed on the market, tracking the declining price of the iron ore futures. Rio Tinto’s share price fell 2% after reporting second quarter results that fell short of market expectations including iron ore shipments of 80.3 million tonnes compared to expectations of 82 million tonnes due to rail delays experienced during the quarter.Droneshield tumbled 30% yesterday before hitting a trading halt then resuming trade after the counter-drone technology stock responded to a media speculation that cast doubt on the longevity of the company’s stellar rally over the last 12-months.Lifestyle Communities recovered some ground yesterday with a 5.53% rally after a sell-off on Monday following media reports around treatment of some residents at its homes.What to watch today:Ahead of the midweek trading session here in Australia the SPI futures are anticipating the ASX to open the day up 0.65% tracking Wall Street’s bull run overnight.On the commodities front this morning oil has slipped 1.42% to trade at US$80.75/barrel, gold is up 1.92% at US$2469/ounce and iron ore is up just 0.08% at US$109.67/tonne.AU$1.00 is buying US$0.67, 106.65 Japanese Yen, 52.02 British Pence and NZ$1.11.Trading Ideas:Bell Potter has slightly increased the 12-month price target on Electro Optic Systems (ASX:EOS) and maintain a buy rating on the Australian defence manufacturer following the release of the company’s 1H24 results outlining a better-than-expected start to the year. Over the first half, EOS reported revenue rose 92% on the PCP to $142.6m which beat BPe, and Bell Potter continues to forecast a return to profitability for the company in CY25.And Bell Potter has maintained a buy rating on HUB24 (ASX:HUB) with a 12-month price target of $53.20 following the release of the specialist investment platform provider’s June quarter update including a strong Q4 performance of Funds Under Administration improving to $104.7bn, up 30% on the PCP and net flows of $5bn.

Wall Street rallied on the first trading day of the new week as investors now believe it is more likely for presidential candidate Donald Trump to reclaim the White House at the upcoming election following a failed assassination attempt of the former president over the weekend. The rally was also boosted by strong corporate results out as we near earnings season, with key banks including Goldman Sachs and BlackRock both beating profit expectations in results out overnight. The Dow Jones closed at a second consecutive session record with a rise of 0.4% on Monday, the Nasdaq also added 0.4% and the S&P500 ended the day up 0.3%.Over in Europe, markets closed lower on Monday as investors digested some disappointing earnings results released on Monday. The STOXX 600 fell 1% as every sector ended the day in the red, while Germany’s DAX dropped 0.84%, the French CAC fell 1.19% and, in the UK, the FTSE100 ended the day down 0.85%. Shares in luxury brand Burberry plunged 16% after the company posted disappointing Q1 results including the axing of its dividend, while Swatch Group also dropped 9.8% as profits fell amid easing sales in China.Across the Asia markets on Monday, it was a mixed session as investors assessed key economic data out in the region. China’s CSI index rose 0.11%, South Korea’s Kospi index fell 1.73%, and Japan’s Nikkei was closed for a public holiday.China’s economic outlook took another hit yesterday with the world’s second largest economy reporting its worst pace in economic growth in five quarters with a GDP data showing expansion of 4.7%, down from the 5.3% reported in Q1 and well below economists’ expectations of a 5.1% reading. Weak domestic demand, falling yuan, persistent property downturn and trade tensions were the key drivers of the eased economic expansion. China’s retail sales for June also came in lower than expected with a 2% gain YoY compared with expectations of 3.3%.The local market started the week with a modest gain of 0.73% to close with a fresh record of 8017.60 points with every sector ending the day in the green led by the tech sector jumping 1.4%. The broad market rally yesterday was driven by Wall Street’s record run that ended last week on a high note.Aussie Broadband tumbled 14% on Monday after the company lowered its earnings guidance for FY25, while Lifestyle Communities tanked 18% on the back of a news report featuring residents of the company’s properties outlining alleged immoral and unethical conduct.Star Entertainment shares lost 1% after the casino operator reported it has been forced to pause its electronic game rollout due to issues with the software.What to watch today:Ahead of Tuesday’s trading session here in Australia the SPI futures are anticipating the ASX to open the day down 0.05%On the commodities front this morning, oil is trading 0.45% lower at US$81.84/barrel, gold is up 0.41% at US$2421/ounce and iron ore is flat at US$109.58/tonne.The Aussie dollar is buying US$0.68, 106.92 Japanese Yen, 52.19 British Pence and NZ$1.11.Trading Ideas:Bell Potter has maintained a hold rating on Nanosonics (ASX:NAN) and have increased the price target on the healthcare equipment and services company from $3 to $3.45 following the release of a trading update out of the company yesterday. Nanosonics outlined it expects revenues at the upper end of guidance and operating expenses to growth also within the specified range of 9-11%.And Trading Central has identified a bullish signal on Step One Clothing (ASX:STP) following the formation of a pattern over a period of 36-days which is roughly the same amount of time the share price may rise from the close of $1.47 to the range of $1.64 to $1.70 according to standard principles of technical analysis.

Wall Street re-entered record territory on Friday after a slight pullback on Thursday following the release of positive inflation data earlier in the week and as investors looked outside of the AI rally to capitalise on attractive investment opportunities across the broader market. The Dow Jones rose 0.62% to top 40,000 for the first time ever, while the S&P500 and Nasdaq rose 0.55% and 0.63% respectively. The banks fell on Friday despite posting stronger results than expected with JPMorgan shares sliding 1.2% despite topping Q2 revenue expectations and Citi fell 1.8% also despite beating on the top and bottom lines in Q2.Over in Europe, markets closed higher across the region on Friday with the STOXX 600 rising 0.97% driven by telecom stocks after strong second quarter results boosted stocks in the sector. Germany’s DAX rose 1.15% on Friday, the French CAC added 1.27% and, in the UK, the FTSE100 ended the day up 0.36%.Across the Asia markets on Friday, it was a mixed finish to the week across the region with Japan’s Nikkei falling over 2% after hitting record highs in the previous sessions. Hong Kong’s Hang Seng rose 2.6%, South Korea’s Kospi index fell 1.18%, and China’s CSI index rose 0.12% after Chinese exports beat expectations with a rise of 8.6% YoY in June indicating further recovery in the region post-pandemic.Locally on Friday the ASX200 rose 0.88% to a record close with every sector aside from the tech sector ending the day higher, led by real estate stocks jumping almost 2%. The price of gold topped US$2400 late last week which boosted local gold miners including Bellevue Gold (ASX:BGL) rising 1.5%, Spartan Resources (ASX:SPR) soaring over 7% and Gold Road Resources (ASX:GOR) jumped 2.3%. The easing inflation data out of the US was the key driver of the gold price rally as markets are now pricing in a rate cut out of the Fed by September. The local big banks rallied on Friday with Commonwealth Bank (ASX:CBA) closing the day at a record $131.60 taking its market cap to $221bn, making it the largest company on the ASX.What to watch today:Ahead of the first trading session of the new trading week the SPI futures are anticipating the ASX to open the day up 0.64% on the back of Wall Street’s strength on Friday.On the commodities front this morning oil is trading 0.15% higher at 82.34 per barrel, gold is down 0.16% at US$2,407 an ounce and iron ore is flat at US$109.58 per tonne.The Aussie dollar has strengthened again to buy 68 US cents, 107.14 Japanese Yen, 53.04 British Pence and 1 New Zealand dollar and 11 cents.Trading Ideas:Bell Potter has increased the 12-month price target on Coventry Group (ASX:CYG) from $1.80 to $2.00 and maintain a buy rating on the industrial supplies and services group following the release of a strong trading update out of the company for Q4 including group sales growth of 4% and the outlook for FY24 EBITDA of 22% growth on FY23.Trading Central has identified a bullish signal on IGO Ltd (ASX:IGO) following the formation of a pattern over a period of 16-days which is roughly the same amount of time the share price may rise from the close of $6.07 to the range of $6.47 to $6.57 according to standard principles of technical analysis.

The S&P 500 has notched seven consecutive record highs, fueled by investor optimism over AI advancements. Apple's ascent to the top of the market cap rankings underscores the technology sector's dominance. However, with valuations stretched, questions arise about the sustainability of this rally. This week's market update explores the driving forces behind the record-breaking surge and assesses potential investment opportunities.In this video, Grady covers: (0:15): what’s behind the S&P500 hitting 7 consecutive record highs (0:33): why Apple overtook Nvidia as the most valuable company (0:58): how Ai optimism is driving the tech sector surge(4:59): how the ASX200 has performed this week so far (6:23): the most traded stocks & ETFs by Bell Direct clients (6:39): economic data to watch out for next week. 

Wall Street extended its record run into the midweek session as a sharp rise in semiconductor stocks led the market rally for another day. The rally was also ahead of key US inflation data out on Thursday US time with economists’ expecting the inflation rate month-on-month to rise just slightly by 0.1% in June from May, while the YoY inflation rate is expected to cool to 3.1% in June from 3.3% in May. Core inflation is anticipated to show a 0.2% growth and core inflation yearly is expected to remain at 3.4%. The S&P500 topped 5600 points for the first time overnight and closed with a gain of 1.02% for a seventh straight day of gains and record closes. The Nasdaq added 1.18% on Wednesday to also close at a record high and the Dow Jones overturned its recent slump to close higher. Taiwan Semiconductor stock rose 3.5% after revenue from April to June beat Wall Street estimates while AI darling Nvidia rose 2.7%. Across the European region markets closed higher on Wednesday after a shaky start to the week with the STOXX 600 rising 0.93% at the end of the midweek session, while Germany’s DAX added 0.94%, the French CAC rose 0.86% and, in the UK, the FTSE100 ended the day up 0.66%. Asia markets closed mostly higher on Wednesday following the release of key inflation data out in the region. Japan’s Nikkei closed at a fresh record high as corporate goods price index data rose 2.9% in June from a year earlier which met economists’ expectations. Hong Kong’s Hang Seng was flat on Wednesday and South Korea’s Kospi index posted a slight gain at the session’s end. Despite a strong night on Wall Street on Tuesday, the local market fell 0.16% on Wednesday as the miners weighed on the key index tracking the declining price of iron ore. Communications services stocks rose 1.46% on Wednesday to offset some of the heavy losses among the miners while consumer staples and financial stocks also closed the day in positive territory. Incitec Pivot (ASX:IPL) shares fell 1.2% after the company ended negotiations with Indonesia’s PT Pupuk Kalimantan Timur for the sale of its fertilisers business. Bell Financial Group (ASX:BFG) shares rallied on Wednesday after announcing the expectation of a 47% rise in first-half PBT to $23.8 million. Immune-oncology company Imugene (ASX:IMU) jumped 6% on Wednesday after announcing it has dosed its first patient in its trial for bile tract cancers.  What to watch today: Ahead of Thursday’s session on the ASX the SPI futures are anticipating the ASX200 to open the day up a sharp 0.94% following Wall Street’s record rally overnight.On the commodities front this morning oil is trading 1.26% higher at US$92.43/barrel, gold is up 0.34% at US$2371.97/ounce and iron ore is up 0.45% at US$110.51/tonne.The Aussie dollar has modestly strengthened overnight to buy US$0.67, 109.09 Japanese Yen, 52.61 British Pence and NZ$1.11. Trading Ideas: Bell Potter has increased the 12-month price target on Genetic Signatures (ASX:GSS) from 75cps to $1.10 and maintain a speculative buy rating on the specialist molecular diagnostics company following the receipt of first FDA clearance for the company being a transformational milestone, allowing commercialisation into the USA. The FDA-cleared test, called the ‘Gastrointestinal Parasite Detection Kit’ is differentiated from US competitors by its broader coverage of 8 pathogen targets compared to only 3-4 covered by existing multiplex kits. Bell Potter sees first sales in the US are expected in 1HFY25.And Trading Central has identified a bullish signal on Perseus Mining (ASX:PRU) following the formation of a pattern over a period of 23-days which his roughly the same amount of time the share price may rise from the close of $2.51 to the range of $2.72 to $2.76 according to standard principles of technical an

The S&P500 and the Nasdaq both closed at all-time highs ahead of inflation data and second-quarter earnings reports. The S&P500 is coming off its fourth positive eek in the last give amid ongoing optimism that easing inflation could lead to the Fed interest rate cuts. The index closed 0.1% higher overnight, while the tech-heavy Nasdaq gained 0.28% and the Dow Jones closed slightly lower, down 0.08%. It was a choppy session locally yesterday, with the ASX200 closing in the red, down 0.76%, as materials and energy stocks weighed down on the market. What to watch today:The ASX200 is set to open higher this morning, with the SPI futures suggesting a rise of 0.22% at the open. In economic data, Westpac’s consumer confidence data will be out today, forecast to fall 0.3%. The benchmark current sits at 83.6 in June, far from the neutral level of 100 as fiscal support measures have been insufficient to ease worries of high inflation and heightened interest rates. Also today, NAB’s business confidence data will be released, also forecast to decline. In commodities, Crude oi is trading more than 1.4% lower at US$82.25 per barrel, extending the pullback from the over-two-month high of $84 hit on July 4th, with short-term supply threats a concern. The price of gold is down more than 1.3% at $2,359.16 an ounce, taking a pause from the sharp rally that was led by expectations that the Federal Reserve could cut interest rates in September, following the soft US jobs data released last week.And iron ore is also trading in the red, down 1.55% to US$111.31 per tonne, pulling back from an over one-month high as a four-day rally triggered profit taking. Trading Ideas:Bell Potter have downgraded their recommendation on IGO Limited (ASX:IGO from a Hold to a Sell, and have lowered their 12-month price target from $7.60 to $5.15. at it’s current price of $5.70, this is down 9.6% in a year. And Trading Central have identified a bearish signal in LGI Limited (ASX:LGI) indicating that the stock price may fall from the close of $2.84 to the range of $2.71 to $2.75 over 34 days, according to the standard principles of technical analysis. 

Favourable jobs data boosted Wall St to a positive finish on Friday investor optimism of rate cuts out of the Fed gained further traction. The S&P500 notched another record close, ending the day up 0.54%, while the tech-heavy Nasdaq jumped 0.9% and the Dow Jones ended the day up 0.2%. Nonfarm payrolls for June saw 206,000 jobs added to the economy but the U.S. unemployment rate ticked up to 4.1% which was higher than economists’ expectations and indicates further loosening of the tight U.S. labour market.Over in Europe, markets closed mixed as investors assessed the outcomes of key parliamentary elections in the region. The STOXX 600 fell 0.22%, Germany’s DAX gained 0.14%, the French CAC fell 0.26% and, in the UK, the FTSE100 ended the day down 0.45% as investors responded to the result of the UK’s general election where the opposition Labour Party won a vast majority, unseating the Conservatives after 14-years.Across the Asia markets on Friday, it was a mixed session as key economic data weighed on equities markets. South Korea’s Kospi Index rose 1.32% on Friday, while Hong Kong’s Hang Seng fell 1.13%, China’s CSI lost 0.43% and Japan’s Nikkei fell 0.49% from recent record highs after household spending for May unexpectedly dipped 1.8% in real terms for May which fell well short of economists’ expectations of a 0.1% rise.Locally on Friday the ASX200 fell 0.1% in a quiet session however the key index still posted a 0.7% gain for the week as coal and gold stocks boosted the ASX200 higher. Miners weighed on the key index on Friday amid the sliding price of iron ore and the big banks each posted a decline too.Healthcare stocks offset some of the heavy losses on Friday with CSL, ResMed and Cochlear each ending the day in positive territory.What to watch today:Ahead of the first trading session of the new trading week, the SPI futures are anticipating the ASX to open the day down 0.14%.On the commodities front this morning, oil is down 0.17% at US$83.24 per barrel, gold is down 0.2% at US$2386.04 per ounce and iron ore is down 1.55% at US$111.31 per tonne.The Aussie dollar has strengthened to buy US$0.67, 108.41 Japanese Yen, 52.70 British Pence and NZ$1.10.Trading Ideas:Bell Potter has initiated coverage on Percheron Therapeutics (ASX:PER) with a speculative buy rating and a price target of 14cps with the analyst saying it is a high risk, high reward outlook for the company. Percheron is an Australian biotechnology company seeking to develop ATL 1102 for the treatment of Duchenne Muscular Dystrophy, a degenerative neuromuscular disorder caused by a mutation in the gene responsible for the production of dystrophin. The company’s next catalyst is the release of headline data from the phase 2b clinical trial due in 2HCY24.Trading Central has identified a bearish signal on Treasury Wine Estates (ASX:TWE) following the formation of a pattern over a period of 23-days which is roughly the same amount of time the share price may fall from the close of $12.25 to the range of $10.70 to $11.00 according to standard principles of technical analysis.

The AI revolution is upon us, driving innovation and progress at an unprecedented pace. Explore the growing water demands of AI and the impact it has on utilities. Plus, delve into potential investment opportunities within the utilities sector that are poised to benefit from this trend. In this week’s wrap, Grady covers: (0:10): how AI could reshape the utilities sector (2:48): why AI’s hidden energy demands could threaten the grid (3:50): the ASX-listed stocks benefiting from AI(4:45): how the ASX200 performed this week so far(5:44): the most traded stocks & ETFs by Bell Direct clients(6:12): economic news items to watch out for next week. 

US equities extended the bull market run on Wall Street overnight in a shortened session. Trading volume was muted with the New York Stock Exchange closing early a 1pm and will be closed tonight for Independence Day. The S&P500 and the Nasdaq both closed at record highs, with investors looking past soft economic data. The S&P500 gained 0.5%, while the Nasdaq closed 0.88% in the green, as mega cap tech names rallied, including Tesla and Nvidia. European markets rallied with all major benchmarks closing in the green ahead of two national parliamentary elections, with the UK voting on Thursday followed by France on Sunday. After a negative run last week, the STOXX600 has been volatile in July so far. The index closed 0.8% higher, with most sectors in the green, primarily lead by mining stocks. The German DAX up 1.16%, Fance’s CAC up 1.24% and the FTSE 100 advanced 0.6%. After a choppy session on the ASX200 yesterday, the key index posted a 0.28% gain at the closing bell, as investors weighed unfavorably strong retail sales data against a tech rally, prompted by the Nasdaq hitting a record high the prior trading session. Retail sales data came in at a rise of 0.6% for May, which is significant from the 0.1% increase reported in April and well above economist expectations. The data, however, wasn’t favorable for retail companies, as it was due to heavy discounting to move inventory levels as opposed to profit making on an earnings front. Building permit data in Australia for May was also out yesterday, up 5.5%, again above expectations. Both readings show the RBA’s case at taming inflation remains a difficult task as these drivers of inflation remain high. What to watch today:Our local market is set to open higher this morning, with the SPI futures suggesting a 0.94% rise at the open. In economic data, balance of trade data for May will be out today. Australia’s trade surplus on goods widened to $6.55 billion in April, from a downwardly revised $4.84 billion in the previous month, surpassing market forecasts. In commodities, Crude oil is rallying, up 1.05% at US$83.68 per barrel, holding close to a two-month high amid lingering concerns about lower supply. The price of gold is up more than 1.1% to US$2,357.71 an ounce, hovering at its highest price in a month due to the drop in the US dollar and Treasury yields. And iron ore is trading 2.15% higher at US$110.32 per tonne, rising for the fourth straight session and hitting a one-month high amid an improving demand outlook in top consumer China. Trading Ideas:Bell Potter maintains a Speculative Buy rating on Chalice Mining (ASX:CHN) and have increased their valuation from $5.00 to $5.15. At CHN’s current share price of $1.22, this implies over 100% share price growth in a year. Trading Central have identified a bullish signal in NRW Holdings (ASX:NWH) indicating that the stock price may rise from the close of $3.09 to the range of $3.34 to $3.40 over 7 days, according to the standard principles of technical analysis. 

Wall St closed higher on Tuesday after Fed Chair Jerome Powell acknowledged progress on inflation but reiterated that the Fed was not quite ready to cut rates just yet. The Dow Jones rose 0.41%, while the the S&P500 gained 0.62% to close at a record 5509 points and the Nasdaq jumped 0.84% to a record close of 18,028.76 points.Tesla shares rose 4% on Tuesday after the EV company reported better-than-expected deliveries for the second quarter, while Apple shares hit a new intra-day high over US$220/share on Tuesday as investors assess the company’s plans to introduce AI to its iPhones and other products.In Europe overnight, markets closed lower following the release of key eurozone inflation data. The STOXX 600 fell 0.4% on Tuesday, while Germany’s DAX lost 0.69%, the French CAC declined 0.3% and, in the UK, the FTSE100 ended the day down 0.56%. Headline inflation in the euro area dipped to 2.5% in June which met economists’ expectations, however, core and services inflation remained stubbornly high which sparked the equity-sell off yesterday.Across the Asia markets on Tuesday, it was a mostly green close across the region as Japan’s Nikkei rose 1.12% to close at a 3-month high while Japan’s broader Topix index rose 1.15%. Elsewhere, Hong Kong’s Hang Seng rose 0.33% while South Korea’s Kospi index fell 0.84% after South Korea’s inflation rate came in at 2.4% which missed economists’ expectations of 2.7%.What to watch today:The local market extended this week’s red run into Tuesday’s session with the ASX200 closing the day down 0.42% as investors assessed the hawkish comments out of the RBA in the latest meeting minutes release yesterday. A near two-month high price of oil boosted the energy sector to a 2% gain which offset some of the heavy losses among REIT and bank stocks yesterday.The latest RBA meeting minutes were released yesterday with a very hawkish tone continuing through the latest update. Michele Bullock outlined in the minutes that it is difficult to rule in or out future policy moves as the outlook remains highly dependent on economic data in order to tame inflation to the target 2-3% range by the RBA’s deadline of 2026. Retail sales and new building permits data in Australia released today will play a vital role in the economic data-driven rate outlook for the RBA at the next meeting.Lithium developer Liontown Resources (ASX:LTR) rallied over 7% on Tuesday after announcing the securement of US$250m in funding from South Korean battery conglomerate LG Energy Solutions under a 10-year funding agreement.Domino’s Pizza (ASX:DMP) shares came under pressure yesterday after Barrenjoey and Ord Minnett noted the Pizza giant is facing three major earnings challenges through a weakening Japanese Yen, a jump in cheese prices and a slower than forecast store rollout, which are likely to hurt earnings in FY24.On the commodities front this morning, oil is trading 0.61% lower at US$82.87/barrel, gold is down 0.3% at US$2325.83/ounce, iron ore is up 1.4% at US$108/tonne.1 Aussie dollar is buying 67 US cents, 107.63 Japanese Yen, 52.56 British Pence and 1 New Zealand dollar and 10 cents.Ahead of the midweek trading session in Australia the SPI futures are anticipating the ASX to open the day up 0.25% on the back of Wall Street’s strength overnight.Trading Ideas:Bell Potter has downgraded the rating on Monadelphous Group (ASX:MND) from a buy to a hold and reduced the 12-month price target on the leading Australian engineering group following the analyst revisiting key indicators including the outlook for a quietening major project development pipeline with limited visibility on near-term contract awards. With the outlook for reduced Engineering Construction division revenue contribution to the group, it will likely lead to EBITDA pressures.Trading Central has identified a bearish signal

Wall Street started the second half of the US financial year with a green close that saw the Nasdaq settle the day at a fresh record high as positive momentum from the first half extends into the second half. The Dow Jones rose 0.13%, the S&P500 added 0.27% and the tech heavy Nasdaq rose 0.83% to a fresh record close of 17,879.30. US Manufacturing PMI data out this morning showed a slight contraction in manufacturing output for June to 48.5 from 48.7 in May, with the reading falling short of economists’ expectations of 49.1 points indicating the US economy continues to ease under the high interest rate environment.Across the European markets overnight, it was a sea of green as investors responded to the first round of France’s snap parliamentary election. The STOXX600 rose 0.44%, Germany’s DAX added 0.3%, and in the UK, the FTSE100 ended the day up 0.03%. The French CAC rallied 1.09% on Monday as investors digested the results of the first round of France’s legislative election where Marine Le Pen’s party won the first round by a smaller margin than expected. The rally comes as investors welcome to smaller margin win, as, if the party dominated to form a majority quickly, concerns are raised over the fast ability of their proposals in spending and tax to be pushed through quickly thus potentially tipping the region into a debt crisis.Across Asia on Monday, it was a positive start to the second half of the year as investors assessed key economic data out in the region including China’s manufacturing activity and Japan’ consumer confidence readings. Japan’s Nikkei rose 0.12% on Monday while Japan’s broad index the Topix climbed 0.52% to a new 34-year high. China’s CSI index rose 0.48% on Monday and South Korea’s Kospi index ended the day up 0.23%. China’s Caixin manufacturing PMI figures rose to 51.8 points in June from 51.7 points in May, in a sign of ongoing recovery in the region, while Japan’s consumer confidence rose to 36.4 points in June from 36.2 points in May.What to watch today:The local market started the new financial year 0.22% lower as investors reacted to key inflation data out in the US and Europe late last week and ahead of the RBA meeting minutes out locally today. The rate-sensitive tech sector took the biggest hit yesterday with a decline of 2.2% as investors took profits from the sector’s stellar rally over the last 12-months and ahead of a potential rate rise or prolonged hold out of the RBA.Gas producer Strike Energy tumbled over 16% yesterday after providing an update on the status of its West Erregulla gas supply agreement with Wesfarmers. Due to delays in receiving environmental approvals and the subsequent delays to the company’s final investment decision, the firm gas supply agreement has reverted to the original option for gas supply that is condition on Strike taking FID on a commercial project.Coronado Global Resources soared 9% on Monday though as investors see an attractive buy opportunity in the coal producer on news that its closest competitor, Anglo American has halted operations at its Queensland mine due to a fire burning underground in a major coal mine owned by the company.On the commodities front this morning oil is trading 2.3% higher at US$83.42/barrel, gold is up 0.1% at US$2328.73/ounce and iron ore is flat at US$106.51/tonne.1 Aussie dollar is buying 66 US cents, 107.39 Japanese Yen, 52.66 British Pence and 1 New Zealand dollar and 10 cents.Investors locally will be eagerly awaiting the release of Michele Bullocks’ latest RBA meeting minutes out today to gain insight into the rate outlook down under. The last minutes and comments out of the RBA were taken as hawkish so it is unlikely Ms Bullocks’ stance will change given inflation drivers remain stubbornly high. Australian retail sales and building approvals data are set for release on Wednesday which will give further insight into the stickin

Wall street ended the last trading day of the US first half in negative territory despite US inflation data indicating inflation is easing in the US alongside the release of better-than-expected consumer sentiment figures. The S&P500 fell 0.41%, the Nasdaq lost 0.71% and the Dow Jones ended the day down 0.12%. US inflation data for May slowed to its lowest rate in more than three years with the Fed’s preferred measure of inflation, the Personal Consumptions Expenditures price index rising just 0.1% on April and 2.6% from the prior year.Over the first half of 2024, the tech-heavy Nasdaq soared 18.1% as the AI movement boosted investor appetite for the high growth tech sector. The S&P500 rose 14.5% over the first half to record territory, and the Dow Jones rose just 3.8% over the first 6-months.Over in Europe, markets closed mostly lower on Friday as investors assessed the release of key inflation data in the region and around the world. The STOXX600 fell 0.24% on Friday, Germany’s DAX rose 0.14% while the French CAC fell 0.68%, and in the UK, the FTSE100 ended the day down 0.19%. On Friday, fresh economic data released showed French and Spanish inflation eased in June while the UK posted economic growth of 0.7% for the first three months of the year.Asia markets closed modestly higher on Friday led by Japan’s Topix index rallying 0.57% to a 34-year high on upbeat economic data. Japan’s Nikkei rose 0.64% on Friday, Hong Kong’s Hang Seng rose 0.01% and South Korea’s Kospi index ended the day up 0.49%.Headline inflation for Tokyo rose to 2.3% in June while the country’s industrial production rose 2.8% MoM in May which beat economists’ expectations. The readings provide Japan’s central bank room to tighten its monetary policy as its currency has plunged to a multi-decade low.What to watch today: Locally on the last trading session of FY24, the ASX200 rose 0.1% to finish the financial year up 7.8%. The rally on Friday was driven by the banks and tech stocks rising before the US inflation print was released later after market close.Insurance Australia Group soared 7.2% on Friday after outlining two significant deals have been signed including one with US-listed Berkshire Hathaway for reinsurance protection, and the company also reaffirmed profit guidance to be at the upper end of guidance ranges for FY24.Elsewhere, burrito giant Guzman Y Gomez (ASX:GYG) fell 7.5% on Friday, marking its worst one-day performance since debuting on the ASX.Adore Beauty (ASX:ABY) shares tumbled 5.85% on Friday after the company announced the acquisition of Ikou, a wellness and skincare brand, for $25m.Ahead of the first trading session of the new financial year, the SPI futures are anticipating the ASX to open the day down 0.45% carrying negative sentiment from Wall Street on Friday into the new local trading week.On the commodities front this morning oil is trading 0.09% lower at US$81.56/barrel, gold is down 0.06% at US$2325/ounce and iron ore is flat at US$106.51/tonne.The Aussie dollar has slightly strengthened to buy 67 US cents, 107.40 Japanese Yen, 52.86 British Pence and 1 New Zealand dollar and 10 cents.Trading Ideas:Bell Potter has increased the 12-month price target on De Grey Mining (ASX:DEG) from $1.76 to $1.82 and maintain a speculative buy rating on the gold miner after the company announced it has received Credit Approved Term sheets from a syndicate of domestic and offshore commercials banks for a proposed $1bn senior debt facility. This will support the construction of its 100%-owned Hemi Gold Project which has an estimated CAPEX of $1.345bn and substantially reduces the financial risk of the company.Trading Central has identified a bearish signal on ARB Corp (ASX:ARB) following the formation of a pattern over a period of 22-days which is roughly the same amount of time the

This week, the market witnesses a sharp reversal in the artificial intelligence driven rally. Investors are re-evaluating their portfolios in light of the approaching end of FY24 and Australia’s recent inflation data. The Reserve Bank of Australia’s decision to hold rates at 4.35% was followed by hawkish comments, seemingly justified by higher-than-expected inflation figures. In this week’s wrap, Grady covers:(0:43): what is driving inflation to remain sticky (2:24): an analysis on the unemployment rate (3:35): the impact of inflation on Australia’s rate outlook(4:34): the best performing stocks on the ASX200 this week(5:25) the most traded stocks & ETFs by Bell Direct clients (5:55): economic data to watch out for next week.

US equities closed in the green as investors await inflation data with the send of the second quarter approaching. The Dow Jones and the S&P500 both ended the session 0.09% higher, while the tech-heavy Nasdaq gained 0.3%, with AI companies gaining momentum. After hours, a big mover was Nike, its shares down more than 12% after the athletic retailer cut its full-year guidance. Locally yesterday, information technology and healthcare sectors lead the market, while real estate and utilities declined the most. The ASX200 ended the trading session down 0.3%. What to watch today:The Australian share market is set to open higher this morning, with the SPI futures suggesting a rise of 0.34%. In commodities, Crude oil is trading 1.25% higher at US$81.91 per barrel, nearing a two-month high as supply concerns due to escalating conflict in the Middle East outweighed a surprise increase in US stockpiles. Gold rebounded, trading a US$2,327 an ounce after having tested the lowest in nearly three months earlier in the session, as markets digested data for hints of the Fed’s policy outlook this year. And iron ore is steady at US$106 per tonne. In economic data today, housing credit and private sector credit data for May will be released today. Trading Ideas:Bell Potter maintain a BUY rating on Lynas Rare Earths (ASX:LYC) after the company announced it intends to update its Lynas Malaysia Plant. Bell Potter think the share price could be undervalued. They have increased their price target from $7.55 to $7.80. At LYC’s current share price of $5.95, this implies 31% share price growth in a year. Trading Central have identified a bullish signal in Northern Star Resources (ASX:NST) indicating that the stock price may rise from the close of $13.01. 

Wall Street extended gains across the major averages on Wednesday as investors assessed their holdings in the final trading sessions of a very strong first half driven by AI and semiconductor stocks. The S&P500 rose 0.16% at the end of the midweek session, the Nasdaq rose just under half a percent and the Dow Jones ended the day up just 0.04%, recovering from a red start to the final trading week of June. Amazon shares rose 3.9% on Wednesday to reach a record high and tipped the tech giant’s market cap over US$2tn for the first time. Investors in the US now await the release of key PCE data out on Friday which will provide a key insight into how well the Fed’s rate strategy is working to achieve the target inflation of 2%.European markets closed lower across the board on Wednesday, extending the negative trading sentiment of the week into another session. The STOXX600 fell 0.5% as auto and leisure stocks weighed on the index, while Germany’s DAX lost 0.12%, the French CAC fell 0.69% and, in the UK, the FTSE100 ended the day down 0.27%. Shares of German auto-making giant Volkswagen fell 1.64% after the company announced a $5bn investment in US-listed EV startup, Rivian. Asia markets mostly rose on Wednesday, taking lead from the tech-rally in the US on Tuesday. Japan’s Nikkei gained 1.26% to close at a 2-month high, South Korea’s Kospi index rose 0.64% and China’s CSI index recovered some of this week’s losses to end the day up 0.65%. Singapore’s May factory output rose 2.9% in data out yesterday which beat economists’ expectations of a 2% rise, indicating strength in the Singaporean economy.What to watch today:Locally on Wednesday investors reacted negatively to the latest inflation print out in Australia indicating the annual CPI or inflation rate rose to an annual rate of 4% in May, up from the 3.6% reported in April and well exceeding economists’ forecasts of a 3.8% reading in May. Investors naturally hit the sell-button on equities across the board in afternoon trade on Wednesday leading to a close of 0.71% lower for the ASX200, amid fears of the RBA potentially handing down another rate hike in months to come as inflation and key drivers remain sticky and stubborn. The reading weighs into RBA governor Michele Bullocks hawkish outlook for rates in Australia and will throw a curveball at for the RBA’s next rate decision.Lithium miners felt further pain yesterday with a widespread sell-off in the sector as the price of the commodity fell 5%, extending the month’s losses to 15%.Harvey Norman (ASX:HVN) shares fell over 8% on Wednesday as analysts’ at Barrenjoey predict weaker macro-economic conditions will hurt earnings for the retail giant.Collins Foods rally on Tuesday was short lived as investors hit the sell button yesterday sending shares in the restaurant operator down 7% on Wednesday after Citi retained its sell rating post the release of the results, with analysts at the broker citing they were disappointed to see management no longer expects margin improvements in FY25 against challenging market conditions.On the commodities front this morning oil is trading 0.07% lower at US$80.78/barrel, gold is down 0.92% at US$2298.48/ounce and iron ore is down 0.08% at US$106.46/tonne.The Aussie dollar has slightly weakened overnight against the greenback to buy 66 US cents, but is showing strength against other currencies with 1 AUD buying 106.85 Japanese Yen, 52.61 British Pence and 1 New Zealand dollar and 9 cents.Ahead of the second last trading session for June, the SPI futures are expecting the ASX to open the day down 1.09%, extending on yesterday’s inflation driven sell-off. Trading Ideas:Bell Potter has increased the rating on Paladin Energy (ASX:PDN) from a hold to a buy and have increased the 12-month price target on the uranium miner from $15.70 to $16.10 after the company anno

Wall street closed mixed on Tuesday as the S&P and Nasdaq snapped 3-day losing streaks while the Dow Jones reversed gains to close lower as investors regain appetite for AI-stocks after some profit taking sessions. The Dow Jones fell 0.76% on Tuesday, while the S&P 500 and Nasdaq ended the day up 0.39% and 1.26% respectively, driven by Nvidia jumping 6.7%. In recent weeks we have seen investors in the region shift focus from rate-driven sentiment to a bull market driven purely by the AI movement. In Europe overnight markets closed lower amid investor fears of rising geopolitical tensions in the region. The STOXX600 fell 0.3% weighed down by industrial stocks, while Germany’s DAX lost 0.81%, the French CAC declined 0.58% and, in the UK, the FTSE100 ended the session down 0.41%. Airbus shares fell 9.4% on Tuesday after the company announced aircraft delivery and earnings target cuts for 2024, while drug maker Novo Nordisk rose 4% after the company’s Wegovy weight loss treatment has been approved in China for long-term weight management. Across the Asia markets on Tuesday, China’s CSI 300 closed at its lowest level since February despite the rest of the region rallying yesterday. Japan’s Nikkei rose 0.95% on Tuesday, Hong Kong’s Hang Seng added 0.25% and South Korea’s Kospi index ended the day up 0.35% on a clime in consumer confidence in the region.What to watch today:Locally yesterday, the ASX recovered on Tuesday from Monday’s sell-off to close the day up 1.36% taking lead from Wall Street rising on Monday and buoyed by a strong rally for the local banks which saw CBA rise to a record high yesterday. Mining giants were also boosted yesterday by a rise in the price of oil which led to the energy sector ending the day up with a strong 2.23% rally.KFC Australia operator Collins Foods jumped over 7.3% yesterday after the restaurant operator released full year results including record revenue and rising earnings in this challenging market. Collins Foods reported revenue rose 10.4% to $1.4889bn, and underlying NPAT rose 15.6% to $60m. Collins also reported net operating cash flow rose $30.2m and net debt was reduced by $46.7m. Investors welcomed the 28cps fully franked final dividend declared by the company which is up from 27cps in FY23.Casino operator Sky City Entertainment Group recovered some of Monday’s losses on Tuesday after announcing it has entered into an unconditional agreement to sell its entire shareholding comprising around 10% in Gaming Innovation Group, a European-based online gaming platform provider, for around NZ$55m with proceeds to be used to pay down Sky’s debt as part of its capital management review.On the commodities front this morning, oil is trading 1.11% lower at US$80.72/barrel, gold is down 0.53% at US$2318/ounce, and iron ore is down 0.38% at US$106.55/tonne.1 Aussie dollar is buying 66 US cents, 106.15 Japanese Yen, 52.57 British Pence and 1 New Zealand dollar and 9 cents. Today is a big day on the economic calendar locally with the release of Australia’s inflation print out this morning with the expectation of a slight uptick to 3.8% from 3.6% in April which if it does come in at this reading, will indicate inflation remains sticky and the RBA has a tough job ahead on a rate front.Ahead of the midweek trading session here in Australia the SPI futures are anticipating the ASX to open the day down 0.37%.Trading Ideas:Bell Potter has slightly increased the 12-month price target on Cleanaway (ASX:CWY) from $3.10 to $3.15 and maintain a buy rating on the leading waste and environmental services company in Australia after the company announced the acquisition of Melbourne-based Citywide Waste which will add three key waste services to Cleanaway’s Melbourne Metro operations and a further 1500 C&I customers in metro Melbourne.Trading Central has ident

Wall Street started the new trading week mixed as investors sold out of big tech stocks in favour of the banks and energy stocks. The Dow Jones rose 0.6% on Monday while the S&P500 and Nasdaq posted declines of 0.31% and 1.09% respectively. The pullback in tech stocks is ahead of the U.S. PCE data released later this week which is the Fed’s preferred measure of inflation and is expected to be a 0.1% rise on April which would indicate a decline from April’s 0.2% rise and signal inflation is easing. With some key inflation drivers remaining sticky though, investors have been bracing for higher interest rates for longer.Over in Europe markets closed higher on Monday ahead of key inflation data and central bank decisions out in the region this week. The STOXX600 rose 0.8% on Monday, Germany’s DAX added 0.89%, the French CAC climbed 1.03% and, in the UK, the FTSE100 ended the day up 0.53%.Asia markets mostly slipped on Monday as investors in the APAC region brace for key inflation data out later this week in Japan and Australia. Hong Kong’s Hang Seng fell 0.88% on Monday while China’s CSI index fell 0.54% yesterday.What to watch today:The local share market started the new trading week 0.8% lower following the release of some disappointing company updates and ahead of the release of Australia’s inflation print. Energy stocks took the biggest hit to start the new trading week as the sector closed the day down 1.76% while healthcare was hit with a 1.63% decline on Monday.Sleep apnoea specialist ResMed (ASX:RMD) tumbled 13.2% on Monday on fresh results of a weight loss drug-trial spooked the market about the relevance of ResMed’s devices once again, while online fashion luxury retail platform Cettire (ASX:CTT) tanked 49% after the company said its Q4 trading had been hit by a lull in online luxury spend.Elsewhere in fashion, Myer (ASX:MYR) shares jumped 22% on Monday after the department store giant announced it is looking into a potential merger with Premier Investments’ apparel business which includes Just Jeans.Embattled casino operator Star Entertainment (ASX:SGR) fell a further 5.7% yesterday after the company issued a profit warning and noted that former Chairman, David Foster, has left the board.Local iron ore miners also felt the brunt of investor demand concerns with a decline on Monday, tracking the price of the commodity amid fears of prolonged subdued demand out of China.Ahead of Tuesday’s trading session the SPI futures are anticipating the ASX to open the day up 0.47%.On the commodities front this morning oil is trading 1.17% higher at US$81.68/barrel, gold is up 0.5% at US$2333/ounce and iron ore is down 0.18% at US$106.96/tonne.1 Aussie dollar is buying 67 US cents, 106.26 Japanese Yen, 52.87 British Pence and 1 New Zealand dollar and 9 cents.Trading Ideas:Bell Potter has downgraded City Chic (ASX:CCX) from a buy to a hold and have significantly reduced the 12-month price target on the plus size fashion retailer from 62cps to 20cps following the announcement of the company divesting its US business and the company undertaking a capital raising with proceeds aiming to pay down debt.Trading Central has identified a bullish signal on Jupiter Mines (ASX:JMS) following the formation of a pattern over a period of 30 days which is roughly the same amount of time the share price may rise from the close of $0.32 to the range of $0.42 to $0.44 according to standard principles of technical analysis.

Locally last week, the ASX200 advanced 0.93% Monday to Friday with the utilities, financials and healthcare sectors leading the market. Sigma Healthcare (ASX:SIG), Telix Pharmaceuticals (ASX:TLX) and Gold Road Resources (ASX:GOR) advanced the most last week, while Mineral Resources (ASX:MIN) and Liontown Resources (ASX:LTR) each declined more than 10%.US equities closed mixed on Friday. The Dow Jones edged up 15.57 points, posting its best week since May. The S&P500 closed lower as Nvidia shares pulled back for a second day, while the tech-heavy Nasdaq closed down 0.18%.What to watch today:The ASX200 is set to open lower this morning. The SPI futures are suggesting a fall of 0.21%, as investors brace for a possible acceleration in inflation.In commodities,Oil has softened with the price of crude oil down to US$80.58 per barrel, after its second weekly advance as falling US crude inventories and an escalating conflict in the Middle east bolstered oil prices. Energy shares to watch include Santos (ASX:STO) and Woodside Energy (ASX:WDS).Gold is down more than 1% to US$2,230.85 an ounce, not far from the over-one-month-low of US$2,290 touched on June 4th. Is decline is due to the pressure of a firm US dollar and lower central bank demand in Asia.Iron ore is trading steady at US$106.96 per tonne, holding near the lowest level since April.Watch the share price movements of GUD Holdings (ASX:GUD) as they hold their AGM today, Metacash (ASX:MTS) as they release their earnings report today and Steadfast Group (ASX:SDF) with their investor briefing set for today.Trading Ideas:Trading Central has identified a bullish signal in SG Fleet Group (ASX:SGF) indicating that the stock price may rise from the close of $3.15 to the range of $3.40 to $3.46 over 21 days.Trading Central have a bullish signal in ClearView Wealth (ASX:CVW) indiciating that the stock price may fall from the close of $0.57 to the range of $0.66 to $0.68 over 39 days, according to the standard principles of technical analysis.

Signs from China were mixed this week, with steel demand on the rise, a positive sign for the world’s second-largest economy. However, other indicators like industrial production and house prices are lagging. Meanwhile, the ASX saw a modest gain this week, thanks to strong performances in utilities, financials, and consumer discretionary stocks. In this week’s wrap, Grady covers: (0:10): global market movements this week(1:03): industrial production in China (2:03): the impact of China’s outlook on global markets(3:40): the best & worst performing stocks on the ASX200(4:28): the most traded stocks by Bell Direct clients (4:54): economic data to watch out for.

Wall Street was closed on Wednesday for the Juneteenth holiday which is the National Independence Day celebrated on the 19th of June every year. Investors will be eagerly awaiting the opening of trade in the US on Thursday though to see if Nvidia, and the Nasdaq and S&P500 as a whole are able to maintain their respective record runs.In Europe overnight, markets in the region closed slightly lower aside from the FTSE100 after UK inflation data came in at 2% for May which is inline with the Bank of England’s target. The STOXX600 fell 0.18% on Wednesday, Germany’s DAX fell 0.1% and the French CAC fell 0.77%. UK inflation for May hitting the BOE’s target rate of 2% ahead of Thursday’s policy rate decision is timely despite economists’ expecting the BOE to maintain the current rate of 5.25% for the month ahead before cutting in August.Across the Asia markets on Wednesday, it was a sea of green as energy stocks boosted markets to a positive close. Hong Kong’s Hang Seng rose 2% on Wednesday, and Taiwan’s weighted index topped a record over 23,000 for the first time. Japan’s trade data for May also out yesterday showed exports grew 13.5% YoY while imports grew 9.5%, with exports topping economists’ expectations while imports fell slightly short.What to watch today:Locally on Wednesday, the ASX200 pulled back in afternoon trade to close 0.1% lower as a sell-off in industrials and telecom stocks offset gains among energy and consumer staples companies.A nuclear power plant promise from Federal Opposition leader Peter Dutton as part of his election push boosted uranium miners yesterday with Paladin ending the day up 1.11%, Boss Energy climbing 2.2% and Deep Yellow adding 4.21%.Mortgage insurer, Helia, tanked 20.85% yesterday on news that CBA, Helia’s biggest client, will potentially put its contract up for tender. This fall in share price saw Helia lose almost a fifth of its market value yesterday.Ahead of Thursday’s session on the ASX, the SPI futures are expecting the local market to open the day down 0.23%, extending on the midweek losses.On the commodities front this morning, oil is trading down 0.28% at US$81.34/barrel, gold is up 0.08% at US$2330.28/ounce and iron ore is up just 0.06% at US$107.11/tonne.1 Aussie dollar is buying 67 US cents, 105.40 Japanese Yen, 52.43 British Pence and 1 New Zealand dollar and 9 cents.Trading Ideas:Bell Potter has maintained a buy rating on Beach Energy (ASX:BPT) and slightly decreased the 12-month price target on the energy exploration and development company following the release of the company’s strategic review including further cost reductions, more disciplined capital management and growth focus on three core producing energy hubs.Trading Central has identified a bullish signal on OM Holdings (ASX:OMH) following the formation of a pattern over a period of 27-days which is roughly the same amount of time the share price may rise from the close of $0.46 to the range of $0.62 to $0.66 according to standard principles of technical analysis.

Wall Street started the new trading week in record territory for the Nasdaq and S&P500 driven by market optimism around the AI movement and ahead of the Fed officials’ speeches later this week which could shine light on the rate cut outlook. The S&P500 ended the day up 0.77% at a record high 5473.23 points, while the Nasdaq soared to a close up 0.95% at 17,857.02 and the Dow added 0.5% to close at 38,778 snapping a four-session losing streak.European markets closely mostly higher on Monday despite instability on a political front across a number of regions and against a clouded economic backdrop leaving investors questioning the direction of rate and inflation outlook across Europe. The STOXX600 rose 0.12% on Monday, while France’s CAC returned to positive territory ending the day up 0.9% after mixed reactions to the possibility of a political victory for the country’s far-right national party in the country’s upcoming election. In Germany the DAX rose 0.37% on Monday and, in the UK, the FTSE100 ended the down just 0.06%.The Asia region it was all eyes on China yesterday with a slew of economic data painting a mixed economic picture out of the world’s second-largest economy’s recovery post-pandemic. China’s CSI index fell 0.15% on Monday, while Japan’s Nikkei tumbled 1.83% on a slide in energy stocks, and South Korea’s Kospi index fell 0.52% at the closing bell.Locally on Monday, the ASX200 started the new trading week down 0.31% as a sell-off in tech and energy stocks weighed on the key index. Disappointing economic data out of China weighed on investor sentiment around the big miners yesterday while investors also fled tech stocks around concerns over the outlook of interest rates which will be announced by the RBA later this afternoon.ANZ-Indeed data out yesterday showed Australian job advertisements fell 2.1% in May which at first glance appears supportive of a slight loosening of the country’s tight labour market, however, this slight decline keeps the job ads data 20% above pre-pandemic levels indicating the labour market remains tight, especially following the nation’s unemployment rate falling to 4% in data out last week.What to watch today:Gold miners rallied yesterday on a rise in the price of the precious commodity as investors hold high hopes that the Fed will cut rates soon.Shares in wagering giant Tabcorp rallied on Monday after the company announced former AFL CEO, Gillon McLachlan will step in as Tab’s new Chief Executive from early August.On the commodities front this morning, oil is trading 2.61% higher at US$80.48/barrel, gold is down just over half a percent at US$2320/ounce and iron ore is up just 0.2% at US$107.33/tonne. Iron ore prices have jumped overnight after China’s crude steel demand jumped 8.1% in May from April indicating recovering demand in the world’s second largest economy which is a much-needed boost to the outlook for exports from Australia’s biggest iron ore miners. While this was a key step forward for the country’s post-pandemic recovery, China’s new home price data also out yesterday indicated new home prices fell at the fastest pace in more than 9 years in May, painting a further dire picture of the economy’s struggling property sector.Taking a look at the Aussie dollar, 1 AUD is buying 66 US cents, 104.31 Japanese Yen, 52.05 British Pence and 1 New Zealand dollar and 8 cents.The highly anticipated RBA rate announcement will be handed down this afternoon where it is widely expected Australia’s central bank will maintain the current cash rate of 4.35% for the next period, however, we are likely to see investors and markets react to commentary out of the RBA that indicates the rate outlook and a timeline to cuts.Ahead of the local trading session here in Australia the SPI futures are expecting the ASX to open the day up 0.38% tracking Wall Street’s rall

It was a big week on Wall Street last week with the Nasdaq pushing to a fifth straight record close on Friday while the S&P 500 dipped just 0.04% at the closing bell and the Dow fell 0.15% on Friday. Consumer sentiment in the U.S. fell to 65.6 points in June which was below the expectations of 71.5 points and indicates consumers are concerned about economic conditions amid the high interest rate environment. For the week, the Nasdaq and S&P500 rose 3.2% and 1.6% respectively on the back of cooling inflation indicators in the form of weaker CPI and PPI than economists were expecting.Over in Europe on Friday the same positive sentiment couldn’t be shared as markets in the region closed lower amid government speculations especially out of France. The STOXX600 fell 0.95% on Friday while Germany’s DAX lost 1.44%, the French CAC fell 2.66% and, in the UK, the FTSE100 ended the day down 0.21%.Asia markets closed mixed on Friday led by Japan’s Nikkei closing 0.24% higher after the bank of Japan kept its benchmark interest rate steady at 0% to 0.1% for the month ahead but signalled it is considering the reduction of its purchase of Japanese government bonds.What to watch today:Locally on Friday the ASX200 closed 0.33% as every sector aside from consumer discretionary and healthcare closed in the red which pushed the local market to a 1.25% decline for the week. A widespread decline in commodity prices weighed on the miners late last week while the key index as a whole had its worst week since mid-April last week amid a widespread sell-off across the board in equities.Resouro Strategic Metals renewed investor appetite for rare earths miners through a very successful debut on the ASX on Friday as shares in the Brazilian rare earths project miner soared 37% on debut.On the commodities front this morning, oil is trading 0.07% higher at US$78.51/barrel, gold is down 0.06% at US$2330/ounce, iron ore is up 0.2% at US$107.33/tonne and uranium is up 0.76% at US$86.65/pound.1 Aussie dollar is buying 66 US cents, 104.12 Japanese Yen, 52.21 British Pence and 1 New Zealand dollar and 8 cents.Ahead of the first trading session of the new week here in Australia the SPI futures are anticipating the ASX to open the day down 0.22% ahead of the RBA’s rate decision out tomorrow where it is widely expected that the RBA maintain the current cash rate of 4.35% as key inflation drivers including services, wages and housing inflation remain stubbornly high.Trading Ideas:Bell Potter increased the 12-month price target on Wisetech Global (ASX:WTC) from $92.75 per share to $100 per share and maintain a hold rating on the leading global logistics software company following a recent update on the company’s six CargoWise product development priorities and the larger market opportunities in the Landside logistics and Customs markets.Trading Central has identified a bullish signal on Super Retail Group (ASX:SUL) following the formation of a pattern over a period of 21-days which is roughly the same amount of time the share price may rise from the close of $13.38 to the range of $14.10 to $14.30 according to standard principles of technical analysis.

French election jitters threaten to rattle markets, while US tech giants advance. In this week’s wrap, discover how inflation data, global events and hot ASX sectors are shaping the investment landscape this week. In this week’s wrap, Sophia covers: (0:11) key US economic data moving markets  (0:28) concerns surrounding the French election (1:36) what to expect from the Bank of Japan’s meeting (1:50) this week’s corporate news roundup(2:29) the ASX200 top performers (3:43) the most traded stocks by Bell Direct clients (4:10) next week’s economic calendar.  

US markets advanced overnight after the Fed chairman Jerome Powell stated that policymakers want to see more progress on inflation ahead of a decision to lower rates. US May CPI data also showed inflation continuing to cool, which lifted the market’s expectations that the Federal Reserve will pivo to rate cuts as early as September.It was a strong session on Wall Street with the S&P500 gained 0.85%, closing above 5,400 for the first time. The Nasdaq also hit an all-time high, up 1.53%, while the Dow Jones was the outlier, closing down slightly by 0.09%.What to watch today:Following US markets, the SPI futures are suggesting the Australian market will rise 0.67% at the open this morning.In economic data, Westpac’s consumer confidence data for June is out at 11:30am today and the unemployment rate for May is out at 12:30pm AEST, forecast to rise to 4.2%.In commodities,Oil is up 0.65% to US$78.40 per barrel, due up an unexpected increase in US crude stocks. So keep watch of ASX listed energy producers today.Gold is also in the green at US$2,322.76 per ounce.And iron ore is down more than 1% at US$106.27 per tonne, the lowest in two months, due to pessimistic demand expectations for China.Trading Ideas:Trading Central have identified a bullish signal in Regis Healthcare (ASX:REG) indicating that the stock price may rise from the close of $4.09 to the range of $4.37 to $4.47 over 43 days, according to the standard principles of technical analysis.Meanwhile Trading Central is bearish on South32 (ASX:S32), indicating that the stock price may fall from the close of $3.64.

Wall St closed mixed on Tuesday as the Nasdaq closed at fresh highs and investors await for important inflation data. The Dow Jones fell 0.31%, the S&P500 closed 0.27% higher and the tech-heavy Nasdaq ended the trading session 0.88% higher as Apple gained 7%, now trading at an all-time high. Over in Europe, markets closed lower as the focus turns towards the Federal Reserve’s next meeting and important inflation data coming out of the US. The STOXX 600 fell 0.9% with all major sectors ending the trading session in the red with losses led by banks which fell 2.17%. Germany’s DAX lost 0.68%, the French CAC fell 1.33% and over in the UK the FTSE100 closed Tuesday’s trading session nearly 1% lower.Locally yesterday, the ASX200 fell 1.33% with all but one major sector ending in the red. Losses were led by the materials and real estate sectors which fell 2.58% and 2.35% respectively. This was offset by the consumer discretionary sector which rose 0.11% yesterday.What to watch today:The Australian share market is set to open lower, with the SPI futures suggesting a fall of 0.46% at market open this morning.In terms of economic data, important US inflation data will be released later on tonight for core inflation month on month with a consensus and forecast of 0.3%.On the commodities front this morning, Oil is trading 0.38% higher at 78 US dollars and 3 cents a barrel, gold is trading 0.29% higher at 2316 US dollars an ounce and iron ore is trading 1% lower at 107 US dollars and 38 cents a tonne.Trading Ideas:Bell Potter maintains a buy rating on Electro Optic Systems (ASX:EOS), despite downgrading its 12-month price target to $2.10. The buy rating is maintained by Bell Potter as it is estimated that EOS will generate $70.3m in revenue for CY24 and assuming an EBITDA margin of around 29%, this implies an underlying EBITDA of $20.4m. The $2.10 price target remains a greater than 15% premium to the current share price, hence the buy rating is maintained.Trading Central has identified a bearish signal on Stockland Corp (ASX:SGP), indicating that the stock price may fall from the close of $4.47 to the range of $4.04-$4.12, on a pattern formed over 12 days, according to the standard principles of technical analysis.

Wall St closed higher overnight as investors await the Federal Reserve’s interest rate decision. The Dow Jones rose 0.18%, the S&P500 rallied 0.26% and the tech-heavy Nasdaq ended the trading session 0.35% in the green.Over in Europe, markets closed lower as traders react to initial results from the EU Parliament elections. The STOXX600 closed 0.27% lower with losses led by food and beverage stocks which fell 1.27%. Germany’s DAX fell 0.34%, the French CAC lost 1.35% and over in the UK the FTSE 100 ended Monday’s trading session 0.2% in the red.Locally, the ASX200 was closed yesterday for the King’s birthday public holiday, however on Friday the ASX200 rose nearly half a percent higher with all but one major sectors trading higher. Gains were led by the consumer discretionary and the materials sectors which rose 1.19% and 0.76% respectively.What to watch today:The Australian share market is set to open lower, with the SPI futures predicting a fall of 0.42% at market open this morning.On the commodities front this morning,Oil is trading 3.57% higher at 78 US dollars and 23 cents a barrel, with the significant rise fuelled by expectations of increased summer fuel demand.Gold is trading 0.78% higher at 2310 US dollars an ounce as traders awaits the upcoming monetary policy decision.And iron ore is trading 0.02% lower at 108 US dollars and 48 cents a tonne.Trading Idea:Trading Central has identified a bullish signal on Adairs Limited (ASX:ADH), indicating that the stock price may rise from the close of $1.74 to the range of $2.50-$2.65 on a pattern formed over 52 days, according to the standard principles of technical analysis.

Global markets posted gains in May, particularly in the US with the S&P500 and Nasdaq rising significantly. However, signs of a US economic slowdown, including cooling inflation and lower growth, suggest a potential rate cut by the Federal Reserve as early as July. Europe is also expected to cut rates due to moderate inflation. China showed economic weakness with declining manufacturing activity. Oil prices fell while copper remained stable but is expected to rise. The US's performance is crucial for the global economic outlook, and investors should maintain a diversified and adaptable portfolio.In this week’s wrap: Sophia covers:(0:11) how global markets performed in May(1:57) trends in the commodity market(2:29) the global economic outlook(3:43) the most trades stocks & ETFs by Bell Direct clients(4:14) economic data to watch next week.

A rally for the major tech stocks and optimistic rate cut outlook boosted the New York Stock Exchange to a green close overnight with the S&P 500 and Nasdaq advanced 1.2% and 1.96% respectively to post fresh record closes, while the Dow Jones ended the session up 0.25%. JOLTs Job Openings data for April, also released overnight, added to the improved investor sentiment as the reading came in at a decline to 8.059m jobs in April from 8.355m jobs in March which indicates further easing of the tight labour market in the US.Tech darling Nvidia rose 5% to reach a fresh record high and a US$3tn market cap on Wednesday after the chipmaking giant unveiled new chips to start the week.In Europe overnight markets reversed Tuesday’s losses to close higher on Wednesday ahead of the European Central Bank’s rate decision out on Thursday. The STOXX600 rose 0.84% driven by a rally for tech stocks, while mining stocks again weighed on gains with a fall of 0.5%. Germany’s DAX rose 0.93% on Wednesday, the French CAC added 0.87%, and, in the UK, the FTSE100 gained 0.18% at the closing bell.Markets across Asia closed mixed on Wednesday as India’s Nifty 50 Index rebounded from Tuesday’s tumble to close 1.98% higher, while Japan’s Nikkei fell 0.89% and Hong Kong’s Hang Seng was little unchanged with a 0.06% decline at close.What to watch today:Locally the midweek session ended 0.41% higher as broad market gains offset weakness among commodity prices and mining stocks overnight on Tuesday. The local rally also took lead from Wall street’s gains on Tuesday and Australia’s GDP data indicating softer economic growth than economists’ anticipated in the first quarter.Treasury Wine Estates rose 6.1% on Wednesday after the company reaffirmed FY24 guidance ahead of its USA investor presentation.Medibank shares dipped 1.2% on Wednesday after Australia’s privacy watchdog, the AIC, announced it will take legal action against the healthcare insurer for failing to safely and securely protect the medical details of 9.7m Australians during a cyberattack experienced in 2022, with fines from the watchdog potentially topping $21.5tn.The Australian economy grew at a rate of just 0.1% in Q1 which was fell below economists’ forecasts and the last quarters’ reading of 0.2% growth, indicating inflationary pressures are continuing to eat away at Australia’s economic stability and expansion. The 0.1% expansion reported in Q1 was the softest growth rate in 6 quarters and driven by subdued domestic demand, and fixed investment falling further.Investors will likely react to the release of Australia’s trade balance data out today at 11:30am Eastern time with the expectation of a slight rise in Australia’s trade surplus from March’s $5.024bn to $5.50bn indicating a rebound in exports compared to imports where exports have been declining since November.Ahead of Thursday’s trading session the SPI futures are expecting the ASX to open the second last trading session of the week up 0.54% tracking Wall Street’s record-closing rally overnight.On the commodities front this morning, oil has recovered some ground to trade 1.4% higher at US$74.28/barrel, gold is up 1.14% at US$2355/ounce and iron ore is down 2.19% at US$107.69/tonne.1 Aussie dollar is buying 66 US cents, 103.77 Japanese yen, 51.97 British pence and 1 New Zealand dollar and 7 cents.Trading Idea:Bell Potter has increased the rating on Infomedia (ASX:IFM) from a hold to a buy and have increased the 12-month price target on the leading provider of software solutions to the automotive industry after the company presented twice last week indicating this financial year is tracking to plan and the outlook is perhaps better than Bell Potter expected.

Wall Street closed higher on Tuesday across the key indices amid a decline in treasury yields and ahead of key jobs data out on Friday. The Dow Jones rose 0.36%, the S&P500 added 0.15% and the tech-heavy Nasdaq climbed 0.17% on Tuesday. Investors are eagerly awaiting the release of key nonfarm payrolls data out on Friday for the month of May with hopes of an ease in the number of people currently employed in the US to support the Fed’s interest rate cut outlook, but not a major decline as that would spark recession fears.In Europe overnight, markets closed lower across the region as investors await the European Central Bank’s rate decision out on Thursday to see if the inflation print for the region that came in hotter-than-expected last Friday, deters the ECB from cutting rates as is widely expected. The STOXX600 fell 0.5% as mining stocks weighed on the bourse, while Germany’s DAX fell 1.09%, the French CAC lost 0.75% and, in the UK, the FTSE100 ended the day down 0.37%.Across the Asia markets on Tuesday, India’s stock market tumbled 5% as the country continued voting for its 2024 election, while Hong Kong’s Hang Seng rose 0.12% on Tuesday, South Korea’s Kospi index shed 0.76% and Japan’s Nikkei ended the day down 0.22%.Weakened commodity prices and a mixed session in the US on Monday caused the ASX to reverse Monday’s gains to post a 0.31% decline on Tuesday. A sharp slide energy stocks weighed on the local bourse following the 3.75% drop in the price of oil on Tuesday as the markets digested OPEC+’s further production cut announcement, while financials stocks closed 0.23% higher to offset some of the heavy losses.A positive crop outlook forecast from the Australian Bureau of Agricultural and Resource Economics and Sciences (ABARES) fuelled a rally for some agriculture stocks yesterday including GrainCorp which climbed 4.8%. The report detailed national winter crop production is set to increase to 51.3m tonnes which is a 9% increase on the last financial year.Gold miners also climbed again on Tuesday amid a rise in the price of the precious commodity driven by rate cut outlook in the US.What to watch today:All eyes locally will be on the release of Australia’s GDP growth rate data for Q1 which is released today at 11:30am with economists expecting a second consecutive reading of 0.2% growth, which would reflect softer economic growth. Australia’s trade balance data for April is also out on Thursday with the forecast of the country’s trade surplus to improve slightly to $5.5bn from $5.024bn in March.On the commodities front this morning oil is trading a further 1.78% lower at US$72.89/barrel, gold is down just over 1% at US$2326.86/ounce and iron ore is down a steep 6.31% at US$110.10/tonne.The Aussie dollar has slightly weakened overnight to buy 66 US cents, 102.88 Japanese Yen, 51.98 British Pence and 1 New Zealand dollar and 8 cents.Ahead of the midweek trading session here in Australia the SPI futures are anticipating the ASX to open the day down just 0.06%.Trading Ideas:Bell Potter has maintained a buy rating on GrainCorp (ASX:GNC) and raised the 12-month price target from $9.50 to $9.90 following the release of the ABARE June east crop forecast report surprising to the upside. The ABARE forecast implies another strong cropping outcome for GrainCorp in FY25 with the initial June forecast implying the fifth largest crop on record.Bell Potter has maintained a hold rating on Synlait Milk (ASX:SM1) and decreased the 12-month price target from $0.66 to $0.47 after the milk processing company released a further FY24 update downgrading FY24 EBITDA expectations to the lower end of guidance reflecting lower ingredients values and inventory impairments.

US equities closed mixed overnight. The Dow Jones slid over 100 points or 0.3% to close the first trading session for June, while the S&P500 and the Nasdaq closed in the green, up 0.1% and 0.56% respectively. Weighing on the Dow was the release of weak manufacturing data in the US, which saw a pullback in banks, industrials and shares dependent on economic growth.  The local market started the new trading month in positive territory yesterday, after a red run last week as the financial and utilities stocks boosted the market to a green close. Tech and communications services stocks weighed on the market gains, with the rate sensitive tech sector ending Monday’s session down 0.7%. Our local rally on Monday followed momentum from Wall Street on Friday, as the US core personal expenditure data, which is the Fed’s preferred measure of inflation, increased just 0.2% for April, the slowest rate this year, indicating inflationary pressures in the world’s largest economy are beginning to ease. What to watch today:The Australian market is set to open lower this morning, with the SPI futures suggesting a 0.15% fall at the open. In commodities, The iron ore price hit a six-week low however the big iron ore miners in Australia posted notable gains on Monday, seemingly unaffected by the drop in the price of their major commodity. BHP, Fortescue and Champion Iron all posted gains yesterday. The drop in the iron ore price was due to ongoing weakness in China’s housing market as indicated by the release of new-home sales economic data. Despite weakness in China’s property sector, the world’s second largest economy reported expansion in its manufacturing sector as activity in the manufacturing space increased at its fastest rate in almost 2-years for May, in a positive sign of slow economic recovery post-pandemic in the region.Energy stocks also rallied in the aftermath of the OPEC+ meeting, where the global oil regulator further cut production outputs in an attempt to bolster the price of oil.This morning, oil is trading 3.88% lower at US$74 per barrel as markets digested OPEC+’s latest move, while gold is up more than 1% at US$2,350 an ounce and iron ore is down 0.1% at US$117.52 per tonne.And the Australian dollar is buying US$0.67, 104.27 Japanese Yen, 52.16 British Pence, and NZ$1.08.Trading Ideas:Bell Potter maintains a Speculative Buy rating on AMA Group (ASX:AMA), the largest accident repair group in Australia with approximately 127 vehicle repair shops. Bell Potter’s key focus for the company this half has been the refinancing of AMA’s senior debt facility which matures in October this year. They have lowered their valuation from $0.12 to $0.08, and at the company’s current price of $0.04, this implies 86% share price growth in a year. And Trading Central has identified a bullish signal in BHP Group (ASX:BHP), indicating that the stock price may rise from the close of $44.81 to the range of $48.30 to $49.10 over 8 days according to the standard principles of technical analysis. 

Wall St closed higher on Friday as the Dow Jones posted its best day in 2024. The Dow gained 1.52%, the S&P500 rose 0.8% whilst the tech-heavy Nasdaq fell 0.01% to end the trading week.Over in Europe, markets closed higher to end the month as investors await a rate decision from the European Central Bank. The STOXX600 closed the week 0.28% higher with most sectors closing the week off in the green with utilities jumping over 1% whilst tech fell 1.48%. Germany’s DAX remained flat on Friday, the French CAC gained 0.18% and over in the UK the FTSE100 rose over half a percent.On the economic data front, Euro Zone inflation rose 2.6% in May, 0.1% higher than the analysts prediction of 2.5%.Locally on Friday, the ASX200 rose nearly one percent with all but one major sector ending the trading session in the green. Gains were led by the consumer staples and energy sectors which rose 1.91% and 1.77% respectively. This was slightly offset by the real estate sector which fell 0.21% 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 0.49% at market open this morning.On the commodities front this morning, Oil is trading 0.94% lower at 77 US dollars and 18 cents a barrel as US stockpiles rose by 2 million barrels last week, despite forecasts for a 400,000-barrel draw, indicating week demand. Gold is trading 0.72% lower at 2327 US dollars an ounce and iron ore is trading 0.09% lower at 117 US dollars and 52 cents a tonne.Trading Ideas:Bell Potter has upgraded its rating of Brickworks (ASX:BKW) to a buy and has a 12-month price target of $29.50. The buy rating is maintained by Bell Potter as it is their opinion that the biggest driver of value in the BKW valuation is the company’s 26% shareholding in Washington H. Soul. Pattinson which is estimated to be around 50% of the current enterprise value of the business. Bell Potter’s market valuation on SOL shows a 3.6% discount, hence the rating has been upgraded to a buy.Trading Central has identified a bullish signal on NRW Holdings (ASX:NWH), indicating the stock price may rise from the close of $3.08 to the range of $3.28-$3.34, on a pattern formed over 25 days, according to the standard principles of technical analysis.

Grady sits down with Bell Potter analyst, Regan Burrows following his exciting trip to Namibia in West Africa to explore the very mining sites he covers in his research including Paladin Energy and Boss Energy. Watch the video as Regan unveils all the latest mining insights he uncovered whilst on this once in a lifetime experience.In this week’s wrap, Grady covers:(2:18) why Paladin Energy has been downgraded(3:30) uranium being the standout commodity of 2024(4:53) Boss Energy being Bell Potter’s key pick(8:15) Australia and the global commodity cycle(11:29) the most traded stocks & ETFs by Bell Direct clients(11:59) economic data to watch next week.

Wall St closed lower overnight as traders start to look ahead to the release of key US inflation data. The Dow Jones fell 0.86%, the S&P 500 closed 0.6% lower and the tech-heavy Nasdaq dropped over 1%. In terms of economic data, GDP growth data quarter on quarter was released, coming in at 1.3%, 0.3% lower than the forecast of 1.6%.In terms of US stocks, Salesforce had its worst session since 2004, dropping 19.7% after missing revenue expectations for the fiscal quarter and providing a week outlook.Over in Europe, markets closed higher overnight despite gloomy global sentiment. The STOXX600 ended the trading day 0.63% higher with most sectors closing in the green including telecom stocks which rose 1.6%. Germany’s Dax rallied 0.13%, the French CAC closed over half a percent higher and over in the UK the FTSE100 ended Thursdays trading session 0.59% in the green.Locally yesterday, the ASX200 ended the day falling nearly half a percent, led by the materials and utilities sectors which fell 1.86% and 1.43% respectively. This was offset by the consumer discretionary sector which gained 0.74% by the closing bell yesterday.What to watch today:The Australian share market is set to open higher, with the SPI futures suggesting a rise of 0.65% by market open this morning.In terms of economic data, US core inflation data month on month for April is to be released on Friday with a consensus of 0.3%, the same as its previous period.On the commodities from this morning, Oil is trading 1.74% lower at 77 US dollars and 85 cents a barrel as markets assessed fresh data ahead of the OPEC+ meeting this weekend.Gold is trading 0.21% higher at 2343 US dollars an ounce and iron ore is trading 0.05% higher at 117 US dollars and 74 cents a tonne.Trading Idea:Bell Potter maintains a speculative buy rating on HighCom Limited (ASX:HCL) and has an unchanged valuation of $0.35. The speculative buy rating is maintained by Bell Potter as HCL expects FY24 revenue to be between $46m-$48m, which would imply second half of 2024 revenue of $31.1m-$33.1m which would be a significant improvement on the first half of 2024 result, hence the speculative buy rating is maintained.

Wall St closed lower overnight following pressure from rising Treasury Yields outweighed a rally by AI company Nvidia. The Dow Jones closed over 1% lower, the S&P500 fell 0.74% and the tech-heavy Nasdaq ended Wednesday’s trading session 0.58% in the red.In terms of US stocks, Nvidia rose 0.8%, having risen every single trading session since its earnings report last Wednesday.Over in Europe, markets closed lower with the STOXX600 having its worst session since mid-April, falling over 1%. All sectors ended the trading day negative with losses led by mining stocks down 2.12%. Germany’s DAX closed 1.1% lower, the French CAC dropped 1.5% and over in the UK the FTSE100 ended 0.86% in the red.Locally yesterday, the ASX200 closed 1.3% lower with all major sectors ending the day in the red. Losses were led by the consumer staples and industrial sectors which fell 2.08% and 1.87% respectively.What to watch today:The Australian share market is set to open lower, with the SPI futures suggesting a fall of 0.68% at market open this morning.On the commodities front this morning, Oil is trading 1.38% lower at US$79.17/barrel due to concerns over weak US gasoline demand. Gold is trading 0.93% lower at US$2337/ounce as investors continue to reduce bets on US Fed rate cuts this year.And iron ore is trading flat at US$117.68/tonne.Trading Ideas:Trading Central has identified a bearish signal on NAB (ASX:NAB), indicating that the stock price may fall from the close of $33.65 to the range of $31.10-$31.60 on a pattern formed over 70 days, according to the standard principles of technical analysis.And Trading Central has also identified a bearish signal on Steadfast Group (ASX:SDF), indicating that the stock price may fall from the close $5.46 to the range of $4.99-$5.09 on a pattern formed over 65 days, according to the standard principles of technical analysis.

The US Market is closed overnight for the Memorial Day holiday and will resume trading on Tuesday US time; however, it is expected the rally will continue from last week as investors shrugged off inflation concerns on Friday in favour of market optimism from Nvidia’s latest stellar results indicating earnings inflation over the next quarter. The futures market is trading higher across the key indices on Monday.Over in Europe on Monday, it was a quiet day for markets as the UK market was also closed for the late May bank holiday. Elsewhere in Europe, markets closed slightly higher to start the new trading week as investors continue searching for clues as to when the European Central Bank may cut interest rates. The STOXX600 rose 0.28%, while Germany’s DAX and the French CAC each added 0.4% on Monday.The Asia markets also closed higher on Monday to start a data-heavy trading week in positive territory. China’s industrial profits rose 4.3% year-on-year from January to April which boosted markets on Monday in a sign the world’s second largest economy is making small yet material steps in the right economic recovery direction. China’s CSI index rose 0.95% on the back of this data release, while Hong Kong’s Hang Seng rallied 1.2% and South Korea’s Kospi Index climbed 1.32%.The local market started the week in positive territory closing Monday’s session up 0.8%, overcoming last week’s inflation-driven sell-off, led by the real estate stocks rising 1.6% and telecoms stocks rallying 1.3%. The sell-off last week was driven by hotter-than-expected inflation driver data released in the US which pushed back investor hopes of rate cuts. Energy stocks came under pressure on Monday as the price of oil dipped to a near three-month low amid demand concerns out of the world’s largest oil demand market, the US.Neuren Pharmaceuticals soared over 15% yesterday after the company resumed trading following a halt on the release of Phase 2 trial results showing significant improvement in Pitt Hopkins syndrome including key aspects of communication, social interaction, cognition, and motor abilities.Lendlease was another stand out on the local bourse yesterday rising almost 10% after the company revealed a strategic review to its global strategy, while online luxury fashion platform Cettire also soared over 10% after ‘categorically rejecting’ allegations that customers purchased counterfeit products from its site.What to watch today:Ahead of Tuesday’s trading session here in Australia, the SPI futures are expecting the ASX to open the day up 0.2% or 16 points to extend the rally of this week into another trading day.On the commodities front this morning oil is trading 1.08% higher at US$78.56/barrel, gold is up 0.84% at US$2353.01/ounce, and iron ore is up 0.11% at US$117.66/tonne.1 Aussie dollar is buying 67 US cents, 104.40 Japanese Yen, 52.09 British Pence and 1 New Zealand dollar and 8 cents.Trading Ideas:Bell Potter has maintained a buy rating on Neuren Pharmaceuticals (ASX:NEU) and has raised the 12-month price target from $26.50 to $28.00 on the neuro-developmental targeted pharmaceuticals developer following the release of the company’s Phase 2 trials results showing a second positive read out for its drug candidate NNZ-2591 in Pitt Hopkins Syndrome. Bell Potter sees the value in the company’s second drug candidate represents a similar, if not larger market opportunity than Rett Syndrome which Neuren’s Daybue drug is on the market treating at present.Trading Central has identified a bearish signal on Hub24 (ASX:HUB) following the formation of a pattern over a period of 17-days which is roughly the same amount of time the share price may fall from the close of $41.53 to the range of $38.10 to $38.80 according to standard principles of technical analysis.

Wall Street closed higher on Friday to overcome the inflation-driven sell-off on Thursday as investors welcomed Nvidia’s latest results as a positive sign of earnings growth inflation especially in the AI sector. The Nasdaq ended Friday’s session up 1.1% at a record high of 16,920.79 points, the Dow Jones ended the day up 0.01%, and the S&P500 rose 0.7%. For the week was a mixed result across the key indices with the Dow falling 2.33%, while the S&P500 rose just 0.03%, and the Nasdaq advanced 1.41%. Nvidia’s shares climbed 2.6% on Friday to top US$1000 for the first time, as investors celebrated its stellar Q1 results including eps of $6.12/share on revenues of US$26bn, which beat analysts’ expectations, and issued guidance for Q2 of US$28bn which also came in ahead of expectations. The results boosted investor sentiment and offset any market concerns of delayed interest rate cuts out of the Fed on Friday, following the release of hotter-than-expected services and manufacturing data for May in the US released on Thursday.Over in Europe, markets closed lower as sentiment in the region around rate cuts remains a concern. The STOXX600 fell 0.17% on Friday, Germany’s DAX closed flat, the French CAC fell 0.09%, and, in the UK, the FTSE100 ended the day down 0.26%. The Bank of England’s rate cute outlook was thrown into doubt last week after hotter-than-expected inflation data was released in the region.Across the Asia markets on Friday, stocks fell as investors digested the latest inflation reading out of Japan and assessed rate cut outlook concerns both locally and in the U.S. Hong Kong’s Hang Seng fell 1.71%, China’s CSI 300 lost 1.11%, and Japan’s Nikkei ended the day down 1.17%. Japan’s core inflation eased to 2.2% from 2.6% in March, while the headline inflation rate slowed to 2.5% down from 2.7%.Locally on Friday, the ASX200 fell 1.1% as Wall Street’s tumble on Thursday reignited local investor concerns of a prolonged rate cut outlook, which sent rate-sensitive sectors sliding on Friday including technology, retail and banking stocks. Australian government bonds rose on Friday as investors turned to safe-haven investments on uncertain rate cut outlook.Investors took profits from the big banks on Friday with CBA falling 2%, NAB sliding 1.5%, ANZ losing 0.95% and Westpac ending the day down 1.15%.Regional Express is expanding its competitive share of Australia’s domestic market as the airline announced on Friday that it is launching flights from Perth to Melbourne starting next month. Investors sold out of the airline’s shares over concerns its domestic expansion will hurt its regional network dominance.What to watch today:Ahead of the first trading session of the new trading week, the SPI futures are anticipating the ASX to open up 0.61% following Wall Street’s rally on Friday.On the commodities front this morning, oil is down 0.06% at US$77.75/barrel, gold is up just 0.03% at US$2334/ounce, iron ore is up 0.11% at US$117.66/tonne and uranium is down 0.11% at US$91.65/pound.AU$1.00 dollar is buying US$0.66, 104.09 Japanese Yen, 52.04 British Pence and NZ$1.08.Trading Ideas:Bell Potter has downgraded the rating on Paladin Energy (ASX:PDN) from a buy to a hold and have decreased the 12-month price target on the uranium miner from $16.50 to $15.70 after Bell Potter’s resources analyst visited the company’s Langer Heinrich Mine in Namibia. The team were surprised by the quality of the site and regional infrastructure competency however are cautious about operation costs which seem to be the biggest downside risk at this point. Bell Potter also noted that the upcoming November election in the region carries key risks around the potential for an introduction of a government free-carry interest and/or an increase in mining taxes in the region.And Trading Central has identified a bearish signal on TPG Tele

Embark on a journey of discovery with Dr. Alan as he unveils the cutting-edge breakthroughs of Clarity Pharma, a pioneering force in the relentless fight against cancer through next-generation radiopharmaceuticals. In this instalment of our From the helm series, Bell Direct’s Grady Wulff speaks to Clarity Pharmaceuticals (ASX:CU6) Executive Chairman, Dr Alan Taylor.Clarity Pharmaceuticals specialises in the development of Targeted Copper Theragnostic for the imaging and treatment of selected cancers. Clarity Pharma has an extensive program of clinical development for imaging and cancer therapy with a series of important data readouts over the next few years. In this video Dr. Alan discusses:(1:27) An overview of the company, including their 7 clinical trials(3:35) The promising results from their SECuRE trial(11:55) Why the radiopharmaceutical market is booming(14:47) Why Clarity Pharma could be an investment opportunity

Wall St closed lower overnight as the minutes from the Federal Reserve’s May meeting raised investor concerns of persistent inflation, displaying the central bank may not cut rates anytime soon. The Dow Jones fell over half a percent, the S&P500 lowered 0.27% and the tech-heavy Nasdaq ended the trading session down 0.18%.Over in Europe, markets followed Wall St, ending Wednesdays trading session lower. The STOXX600 fell 0.37% with all sectors ending in the red. Losses were led with autos stocks which dropped 1.3% and oil and gas stocks declining 1.2%. Germany’s DAX lost 0.25%, the French CAC closed 0.61% lower and over in the UK the FTSE100 fell 0.55%.Locally yesterday, the ASX200 ended Wednesday’s trading session marginally lower, down 0.05%. Losses were led by the communication services and consumer discretionary sectors which fell 2.54% and 1.37% respectively. This was offset by the utilities sector which rallied 0.9% yesterday.What to watch today:The Australian share market is set to open lower, with the SPI futures suggesting a fall of 0.94% at market open this morning.On the commodities front this morning, Oil is trading 1.79% lower at US$77.25/barrel following a surprise rise in US crude stockpiles of 1.825 million barrels last week. Gold is trading 1.77% lower at US$2378/ounce and iron ore is trading 0.28% higher at US$117.57/tonne.Trading Ideas:Bell Potter maintains a buy rating on MedAdvisor (ASX:MDR) and has increased its 12-month price target to $0.49. The buy rating is maintained by Bell Potter following the release of a positive trading update including revenue levels of $120m-$123m, implying 22% to 26% growth on the prior corresponding period and an EBITDA of $6.8m-$7.6m following a loss of $3m in its prior corresponding period. This has increased revenue forecasts in FY24/25/26, hence the buy rating is maintained.And Trading Central has identified a bullish signal on Computhershare (ASX:CPU), indicating that the stock price may rise from the close of $26.97 to the range of $34.25-$36, on a pattern formed over 478 days, according to the standard principles of technical analysis.

Wall Street ticked higher at the closing bell on Tuesday as investors anticipate the release of AI giant Nvidia to gauge how far the tech-rally and valuations can grow. The Dow Jones rose 0.17% on Tuesday, the Nasdaq added 0.22% to set a 10th all-time high this year, and the S&P500 ended the day up 0.25% to also set its 24th record close of 2024. Nvidia shares rose 0.6% prior to the release of its results which are due out on Wednesday, US time, with analysts expecting the semiconductor and AI giant to post another strong batch of results.In Europe overnight, markets closed lower in the region ahead of the release of some key economic data later in the week including the UK inflation reading where it is widely expected to show a sharp decline in the headline inflation rate. The STOXX600 fell 0.21% on Tuesday, Germany’s DAX lost 0.22%, the French CAC fell 0.67%, and, in the UK, the FTSE100 ended the day down just 0.09%.Across the Asia markets on Tuesday, it was a sea of red led by Hong Kong’s Hang Seng falling 2% amid declining materials and industrials stocks.The local market overturned a recent rally to close 0.15% lower on Tuesday as communications services and materials stocks weighed on the key index, with heavy losses partially offset by a strong rally for tech stocks which took lead from the Nasdaq rising on Wall St on Monday.Guidance and corporate updates have been dominating the market in recent sessions with building products giant James Hardie Industries tumbling 15% on Tuesday after missing guidance expectations in an update, while Sonic Healthcare weighed on the healthcare sector after its corporate update outlined currency exchange headwinds will lead to lower-than-expected profits for FY24.Embattled casino operator Star Entertainment Group fell 8% on Tuesday after soaring on Monday amid investor concerns that rumoured takeover candidate, Hard Rock Hotels, has denied interest in acquiring the company.Telstra shares fell 2.7% on Tuesday after the telco giant announced a series of cost cutting measures including the culling of up to 2800 jobs equating to 9% of its workforce and further expansion into AI.The ASX is nearing record territory which has many investors questioning just how high the market can go, which is a similar concern over in the US as the Dow Jones reached a record high on Friday, however, with the recent earnings season indicating inflation on earnings, the rally still has some steam left as valuations continue rising.What to watch today:Ahead of the midweek trading session in Australia, the SPI futures are anticipating the ASX to open the day up with a modest rise of 0.27%.On the commodities front this morning, oil is trading almost 1% lower at US$78.53/barrel, gold is down 0.3% at US$2419.5/ounce and iron ore is up 0.19% at US$117.24/tonne.AU$1.00 is buying US$0.67, 104.07 Japanese Yen, 52.81 British Pence and NZ$1.09.Trading Ideas:Bell Potter has maintained a buy rating on Technology One (ASX:TNE) and increased the 12-month price target on the leading SaaS provider from $18.50 to $19.00 following the release of the company’s 1H24 results including revenue excluding interest growing 15% to $241m which beat BPe by 1% and profit before tax rose 17%. Technology One also surprised by issuing full year guidance of 12-16% profit before tax growth which topped typical historical guidance of 10-15%.And Trading Central has identified a bullish signal on BHP Group (ASX:BHP) following the formation of a pattern over a period of 43-days which is roughly the same amount of time the share price may rise from the close of $46.04 to the range of $49.40 to $50.10 according to standard principles of technical analysis.

Wall St closed mixed overnight despite strong gains from some major tech companies. The Dow Jones fell 0.49%, the tech-heavy Nasdaq gained 0.65% and the S&P 500 ended the trading session 0.09% higher.In terms of US stocks, Nvidia rose 2% as investors await for their first quarter results, due to be released on Wednesday afternoon.Over in Europe, markets closed in the green overnight after a strong run of gains. The STOXX600 closed 0.2% higher with most of the sectors ending the trading session up with industrial stocks gaining 0.96% whilst autos fell 0.77%. Germany’s DAX and the French CAC both rallied 0.35% and over in the UK the FTSE100 rose 0.05% by market close.Locally yesterday the ASX200 ended Monday’s trading session 0.63% in the green, with the majority of sectors finishing positive. Gains were led by the energy and materials sectors which rose 2.23% and 1.93% respectively. This was offset by the health sector which fell 0.86% by the closing bell yesterday.In terms of local stocks yesterday, Star Entertainment group soared 22% after confirming it has received takeover offers from Hard Rock Hotels, and Australian jewellery house Michael Hill plunged almost 20% after warning of a decline in sales for FY24 compared to the prior year.What to watch today:The Australian share market is set to open lower, with the SPI futures suggesting a fall of 0.11% by market open this morning.On the commodities front this morning, Gold is trading half a percent higher at 2426 US dollars and 32 cents an ounce after hitting all-time highs yesterday as demand for the precious metal continues to soar, amid increased optimism for global rate cuts later this year which has impacted the USD and bond yields. This sparked a rally for local gold miners yesterday including Spartan Resources, Bellevue Gold, Northern Star Resources and Evolution Mining. Oil is trading 1.5% lower at 78 US dollars and 85 cents a barrel and iron ore is trading 0.15% higher at 117 US dollars and 2 cents a tonne.Trading Ideas:Bell Potter maintains a buy rating on PointsBet Holdings (ASX:PBH) and has an unchanged 12-month price target of $0.63. The buy rating is maintained by Bell Potter as PointsBet upgraded its FY24 normalised EBITDA guidance from a loss of $9-$14 million to $4-$6 million after a continued strong year-to-date trading in H2 FY24 and increased operational efficiency and productivity. This upgrade result reflects a significant improvement on the FY23 normalised EBITDA, hence the buy rating is maintained.

Wall Street closed mixed on Friday but higher across the three major averages for the week as investors welcomed softer economic data over recent weeks. The Dow Jones industrial average rose 0.34% on Friday to top 40,000 points for the first time in history which has some investors questioning how far the current rally can go, but the recent inflation on earnings outlined in many corporate results indicates the value is still there for the rally to continue. The S&P500 rose 0.12% on Friday and the Nasdaq ended the session down 0.07%. The Dow posted its 5th straight weekly gain of 1.2%, while the S&P500 and Nasdaq ended the 5 trading days up 1.5% and 2.1% respectively.Over in Europe, markets closed lower to snap a 9-day winning streak in the region as corporate earnings weighed on investor sentiment. The STOXX600 fell 0.13%, Germany’s DAX lost 0.18%, the French CAC fell 0.26%, and, in the UK, the FTSE100 ended the day down 0.22%.Across the Asia markets on Friday, markets closed mixed however, China’s CSI300 index rose 1% as investors welcomed the announcement out of China’s central bank for sweeping measures to boost the country’s deteriorating property market.Locally on Friday the ASX200 closed 0.85% lower with every sector aside from materials stocks closing the day in the red, with the tech and healthcare sectors posting the greatest declines of 3.05% and 2.27% respectively. For the week though, the key index rose 0.84% led by the consumer discretionary sector soaring 3.23%. Investors took some profits on Friday after the key index closed 0.2% shy of a record high on Thursday following the unemployment rate rising to 4.1% in Australia. This data indicates rate cuts could be on the horizon out of the RBA sooner than expected as economic data continues to fall in line with RBA expectations and requirements.Lithium miners offset some of the market losses on Friday amid forecasts for increased demand outlook of the commodity driving a rebound in the price, with Pilbara Minerals rising 2.2%, while Mineral Resources ended the day up 0.8%.What to watch today:Ahead of the first trading session of the new week, the SPI futures are expecting the ASX to open Monday up 0.45%.On the commodities front this morning oil is trading 0.14% higher at US$80.11/barrel, gold is up 0.28% at US$2421/ounce, iron ore is up 0.15% at US$117.02/tonne, and uranium is down 0.28% at US$90.65/pound.AU$1.00 is buying US$0.67, 104.21 Japanese Yen, 52.91 British Pence, and NZ$1.09.Trading Ideas:Bell Potter has increased the 12-month price target on GrainCorp (ASX:GNC) from $9.20 to $9.50 and maintain a buy rating on the end-to-end grain producer following the release of the company’s the 1H24 results including NPAT coming in modestly ahead of Bell Potter’s expectations. Despite revenue falling below BP expectations, the outlook for FY24 was maintained amid a likely lift on new oilseed crush capacity.And Bell Potter has initiated coverage of SRG Global (ASX:SRG) with a buy rating and a price target of $1.30 amid strong short-to-medium term outlook for the leading diversified industrial services group, driven by Government-stimulated construction activity in the Infrastructure and Non-Residential sectors. 

This year's Federal Budget had a clear focus on easing the cost of living burden and tackling housing affordability. Watch our latest video update to learn how it affects you.In this week's wrap, Sophia covers:(0:12): surprise surplus, cost-of-living relief measures & tax cuts(1:37): the government's plans to tackle the housing shortage(2:24): what the increased Super Guarantee contribution means for you(2:59): the sectors leading the market this week(4:05): upcoming economic data to watch out for.

Wall St closed higher overnight following a lighter than expected US inflation report. The S&P 500 and tech-heavy Nasdaq closed at record highs gaining 1.17% and 1.4% respectively with the Dow Jones also rallying 0.88%. The consumer price index rose 0.3% in April which was 0.1% less than the 0.4% increase estimated by the Dow Jones.Over in Europe, markets closed higher following the announcement of US inflation data. Germany’s DAX rose 0.82%, the French CAC climbed 0.17% and over in the UK, the FTSE100 ended the trading session 0.21% in the green.What to watch today:The Australian share market is set to open higher with the SPI futures suggesting a rise of 0.64% at market open this morning.On the commodities front this morning, Oil is trading 1.12% higher at 78 US dollars and 89 cents a barrel after the Energy Information Administration report showed a 2.508 million barrel decline in US crude stocks. Gold is trading 1.28% higher at 2385 US dollars an ounce as the latest economic data suggests the Federal Reserve could make further rate cuts before the end of the year.And iron ore is trading over half a percent lower at 116 US dollars and 65 cents a tonne. Trading Ideas:Bell Potter maintains a buy rating on Australian Agriculture Co. (ASC:AAC) and has a 12-month price target of $2.00. The buy rating is maintained by Bell Potter as domestic cattle prices have rebounded and remain undervalued relative to meat price indicators, in addition agricultural land and water asset values also remained robust over CY23, hence the buy rating is maintained.Trading Central has identified a bullish signal on G8 Education (ASX:GEM), indicating that the stock price may rise from the close of $1.25 to the range of $1.38-$1.42 on a pattern formed over 56 days according to the standard principles of technical analysis.

As we approach the close of FY24, it's a prime opportunity to review your portfolio and investment strategy for the upcoming year. Understanding the current economic landscape will be crucial in making informed decisions for FY25.We're excited to share an insightful conversation between AMP's Deputy Chief Economist, Diana Mousina, and Bell Direct’s Market Analyst Grady Wulff. Diana and Grady discuss key factors impacting the market for the remainder of FY24 and into FY25.In this week’s wrap, Diana and Grady delve into:(0:45): the impact of inflation on bond yields  (3:49): reasons for Diana’s optimistic view on inflation’s outlook (5:00): how central banks can adjust interest rates independently  (7:42): why Diana anticipates rate cuts from both local and Federal Reserve sources  (8:39): a recap of this week’s market movements (9:30): the most traded stocks & ETFs by Bell Direct clients (10:00): upcoming economic data to keep an eye on.

Wall St closed higher overnight as the Dow Jones secures its 7th winning day up 0.85%. The S&P 500 gained over half a percent and the tech heavy Nasdaq also rallied 0.27%. In terms of US stocks, both Home Depot and Caterpillar led the Dow in Thursdays trading session, rising more than 2% each.Over in Europe, markets closed higher as positive momentum was gained from a busy week of earnings. The STOXX600 closed 0.2% up by the closing bell with most sectors ending in the green, led by gas stocks rising 0.9%, whilst autos fell 0.9%. Germany’s DAX finished the day over 1% higher, the French CAC rallied 0.69% and over in the UK the FTSE100 ended the trading session 0.33% in the green.Locally yesterday, the ASX200 closed 1.06% lower with the majority of sectors finishing the day in the red. Losses were led by the consumer discretionary and financial sectors which lost 2.56% and 1.71% respectively. This was offset by the energy sector which gained over half a percent by the closing bell on Thursday.What to watch today:The Australian share market is set to open higher, with the SPI futures suggesting a rise of 0.3% by market open this morning.On the commodities front this morning, Oil is trading 0.72% higher at US$79.52/barrel after a decline in US crude stockpiles shows a tightening supply. Gold is trading 1.61% higher at US$2346/ounce as strong over-the-counter market investment, consistent central bank buying and growing Asian demand all gave gold a boost. And iron ore is trading down 1.77% at US$116.59/tonne.Trading Ideas:Bell Potter maintains a buy rating on Arcadium lithium (ASX:LTM), despite slightly decreasing its 12-month price target to $9.50. The buy rating is maintained by Bell Potter as LTM provides the largest, most diversified exposure to lithium in terms of mode of upstream production, asset locations, downstream processing and customer markets. It is a key large-cap leverage to lithium prices and sentiment, which is expected to improve over the medium term. In supportive markets, LTM’s growth pipeline could see the company more than double production over the next three years, hence the buy rating is maintained.And Trading Central has identified a bearish signal on NAB (ASX:NAB), indicating that the stock price may fall from the close of $33.52 to the range of $31-$31.50 on a pattern formed over 56 days, according to the standard principles of technical analysis.

Wall Street closed mixed again on Wednesday as investors reacted to comments made by federal reserve officials this week signalling rates need to stay higher for longer in order to tame inflation to the target rate. The Dow Jones industrial average posted its sixth straight winning day, ending the session up 0.44% to notch the longest green streak in 2024, while the S&P500 closed just 0.03% lower and the tech-heavy Nasdaq fell 0.18%, weighed down by poor corporate earnings results. Uber shares fell 5.7% on Wednesday after the ride share giant posted an unexpected net loss and weaker-than-expected booking revenue, while Tesla shares dipped 1.7% on reports the company allegedly committed wire fraud as part of a probe into Tesla’s autopilot system, according to Reuters.Over in Europe on Wednesday, markets extended the recent rally into the midweek session as investors continued reacting positively to key corporate earnings results. The STOXX600 rose 0.3%, Germany’s DAX added 0.37%, the French CAC climbed 0.7%, and, in the UK, the FTSE100 rose 0.5%. Siemens Energy rose 12.8% after raising its outlook for 2024. Sweden’s Bank cut the nation’s interest rates for the first time in 8 years on Wednesday in another sign of European regions digressing from U.S. lead on the rate front.Across Asia markets on Wednesday, earnings results weighed on investor sentiment in the region which sent markets into negative territory. Japan’s Nikkei led losses with a 1.63% decline as investors responded to disappointing corporate earnings results including out of Toyota and Mitsubishi.Locally on Wednesday, the ASX traded virtually flat all day before ending the up 0.14% to extend this week’s rally into the midweek session driven by industrial and information tech stocks rallying 0.73% and 0.6% respectively.Perpetual confirmed it is parting ways with its high value corporate trust business to US private equity firm, KKR, for $2.18bn. On the same day, Perpetual chief executive Rob Adams announced his retirement from the global financial services organisation.  This division of the business has been a key driver of Perpetual’s global success and growth in recent times which may be why investors responded so negatively on Wednesday with the share price plunging 6.95%.Goodman Group hit a record high intra-day yesterday before investors took some profits after the industrial property company released an impressive third quarter update including upgrading FY24 earnings guidance for a second time, with the company now expecting EPS growth of 13% in FY24. What to watch today:Ahead of the local trading session here today, the SPI futures are expecting the ASX to open Thursday’s session down 0.24% on global market turbulence overnight.AU$1.00 is buying US$0.66, 102.35 Japanese Yen, 52.57 British pence and NZ$1.10.Trading Ideas:Bell Potter has increased the 12-month price target on Alpha HPA (ASX:A4N) from $1.75 to $1.95 and maintain a speculative buy rating on the specialty metals and technology company following the release of a comprehensive market update including an increase in the price outlook for HPA equivalent, increased demand and Alpha HPA’s high purity aluminium products having value adding applications across lithium ion battery, micro-LED and semiconductor manufacturing.And Trading Central has identified a bullish signal on Nufarm (ASX:NUF) following the formation of a pattern over a period of 10-days which is roughly the same amount of time the share price may rise from the close of $5.25 to the range of $5.57 to $5.65 according to standard principles of technical analysis.

Wall Street closed mixed on Tuesday as investors questioned whether the recent rally can be maintained given the latest economic data readings painting a mixed picture about the rate cut outlook in the US with the odds for a cut in September currently sitting at 67%. The Dow Jones rose 0.08% for a fifth consecutive winning day, the S&P500 added 0.13%, and the tech-heavy Nasdaq ended the session down 0.1%. Treasury yields declining on Tuesday was also key driver of the Dow and S&P500 rising as investor optimism for rate cuts boosted appetite for equities. Disney shares plunged 9.5% after the media and entertainment giant missed on revenue expectations, while Peleton shares rose 15.5% on speculation that private equity firms have been considering buying out the company.In Europe overnight, markets closed in the green as investors responded to the release of corporate earnings results in the region. The STOXX600 rose 1.15% boosted by financial services stocks, Germany’s DAX added 1.4%, the French CAC rose just under 1% and, in the UK, the FTSE100 ended the day up 1.22%. Swiss banking giant UBS rallied 9.5% on Tuesday after beating expectations by returning to a quarterly net profit in the latest results while Italian bank UniCredit rose 3.6% on reporting a net profit of $2.6bn euros for the first quarter which beat consensus estimates.The Asia markets closed mostly in positive territory on Tuesday led by South Korea’s Kospi index gaining 2.16% as heavyweights like Samsung Electronics and SK Hynix did most of the heavy lifting. Japan’s Nikkei rose 1.57% and Hong Kong’s Hang Seng ended the day down 0.51%Locally, the ASX extended the recent rally into Tuesday’s session with the key index closing the day up 1.44% with all 11 sectors ending the session in the green led by the utilities sector jumping 2.82%. Investor sentiment was boosted on Tuesday by the RBA maintaining Australia’s cash rate at the current level of 4.35% for the next period which was widely expected.The market didn’t appear to respond to the RBA’s upward revision for inflation expectations over the remainder of 2024 though. Services and fuel inflation remain elevated and are the key drivers of inflation remaining sticky, however, Australia’s central bank drastically revised the inflation outlook upwards from the previous expectation of inflation hitting 3.2% by the December quarter of 2024 to now expecting inflation to remain at 3.8% in the December quarter. This is expected to be driven by wage price index remaining elevated, subdued economic growth, higher imports, higher employment, higher household income, and lower labour productivity.What to watch today:Ahead of the midweek trading session here in Australia the SPI futures are anticipating the ASX to open the day up 0.18% tracking the gains from some key market regions overnight.On the commodities front this morning, oil is trading flat at US$78.48/barrel, gold is down 0.53% at US$2313.61/ounce and iron ore is up 1.3% at US$119.56/tonne.AU$1.00 is buying US$0.66, 101.96 Japanese Yen, 52.67 British Pence and NZ$1.10 cents.Trading Ideas:Bell Potter has downgraded Imdex (ASX:IMD) to a sell rating from a hold and lowered the 12-month price target on the global provider of end-to-end mining services and products company following the release of a soft Q3 update from the company including revenue up 4% YoY but down 6% on a like-for-like basis, and ongoing weakness in global exploration activity is expected to impact the business into FY25.And Trading Central has identified a bullish signal on Car Group (ASX:CAR) following the formation of a pattern over a period of 19-days which is roughly the same amount of time the share price may rise from the close of $34.83 to $36.40 according to standard principles of technical analysis.

Wall St closed higher overnight as traders lifted Federal Reserve rate cut expectations. The Dow Jones closed 0.46% higher, the S&P 500 ended the trading session over 1% higher and the tech-heavy Nasdaq closed 1.19% in the green.Over in Europe, markets closed higher following the release of softer-than-expected US jobs data. Germany’s DAX rose 0.96% and the French CAC and the FTSE 100 both gained nearly half a percent.Locally yesterday, the ASX200 closed 0.70% higher with the majority of the sectors closing in the green. The real estate and utilities sectors led gains, rallying 1.73% and 1.24% respectively. This was offset by the industrial sector which fell 0.18%.What to watch today:The Australian share market is set to open higher with the SPI futures suggesting a rise of 0.49% at market open this morning.On the commodities front this morning, Oil is trading 0.75% higher at 78 US dollars and 70 cents a barrel after Saudi Arabia rose crude prices for Asian customers, suggesting confidence in global energy demand. Gold is trading 0.98% higher at 2323 US dollars an ounce and iron ore is trading 0.04% lower at 118 US dollars and 3 cents a tonne.Trading Idea:Bell Potter maintains a buy rating on GrainCorp (ASX:GNC) despite slightly lowering its 12-month price target to $9.20. The buy rating is maintained by Bell Potter after the outlook for GNC is shifting towards the 2024-25 crop and potential La Nina development and what this means for FY25 earnings. Improved east coast prospects have emerged at a period when Northern Hemisphere crop conditions have arguably deteriorated and would be typically viewed as favourable for accumulation margins and oilseed basis.

Wall street closed higher on Friday bolstered by a softer-than-expected jobs report which boosted investor hopes of rate cuts in the near future. The Dow Jones rose 1.18%, the S&P500 added 1.26% and the tech-heavy Nasdaq climbed 1.99% on the rate cut optimism.Non-farm payrolls indicated 175,000 jobs were added to the U.S. economy in April, which was well below the 240,000 economists were expecting and the US unemployment rate rose to 3.9% from 3.8% for the month. Wages data also came in below expectations which is a strong sign inflation is becoming less sticky as wages inflation has been a key point of stubborn inflation over the last year. Apple shares rose almost 6% on Friday after the tech giant announced a near US$110bn share repurchase and beat analysts’ expectations for 1st quarter results.Over in Europe on Friday, markets closed higher to round out a negative week as investors responded to corporate earnings results. The STOXX600 ended the day up 0.44%, Germany’s DAX added 0.6%, the French CAC rose 0.54%, and in the UK, the FTSE100 ended the day up 0.51%.In Asia on Friday markets ended the week in positive territory led by Hong Kong’s Hang Seng rising 1.48%.Locally on Friday, the ASX200 rose 0.55% as every sector ended the day in positive territory led by consumer discretionary stocks rising just shy of 2% while reit stocks added 1.55%. Block was the best performing stock locally rising 9.83% after the payment platform posted impressive quarterly results that exceeded analysts’ expectations including gross profit rising 22% year-on-year to US$2.09bn.Gold miners came under pressure locally on Friday amid the sliding price of the precious commodity with evolution mining falling 5.57%, while Ramelius Resources fell 2.04% and Regis Resources declined 1.91%.Diversified financial house Macquarie fell on Friday after the company released full year results including net profit falling 32% while net operating income declined 12% over the year. Macquarie attributed the fall in key results to a sharp decline in the commodities and global markets business, and a fall in the Macquarie Asset Management business division.What to watch today:Ahead of the first trading session for the new trading week, the SPI futures are expecting the ASX to open Monday’s session up 0.3% on the back of Wall Street’s jobs-driven rally on Friday.Looking at commodities this morning, oil is trading 1.22% lower at US$77.99/barrel, gold is down 0.13% 2301.30/ounce and iron ore is down 0.04% at US$118.03/tonne.AU$1.00 is buying US$0.66, 101.08 Japanese yen, 52.68 British pence and NZ$1.10.Trading Ideas:Bell Potter has increased the 12-month price target on Nickel Industries (ASX:NIC) from $1.50 to $1.54 and maintain a buy rating on the nickel producer following the company’s release of its March quarter production from its Rotary Kilm Electric Furnace operations including production of 31,840 tonnes of contained nickel and cash costs below Bell Potter’s forecasts. The company faced impacted mining production from its Hengjaya Mine however, mixed hydroxide precipitate production increased 16% which ramped up towards nameplate capacity. Bell Potter’s analyst sees tailwinds are increasing in CY24 once mining permit delays are overcome.

This week's US earnings season was a mixed bag of highs and lows in the market spotlight. Pfizer soared despite COVID vaccine sales dip, while PayPal and Pinterest showed tech potential. Yum Brands stumbled, despite Taco Bell's digital surge. Coca-Cola beat expectations but grappled with inflation and market shifts.In this week’s wrap, Sophia covers:• (0:29): Pfizer’s strong quarter despite COVID dip• (1:05): PayPal’s profitability focus against tech giants• (1:46): Pinterest exceeding expectations, contributed by investments in AI• (2:42): Taco Bell’s digital surge• (2:54): Coca-Cola’s key highlights & weaknesses• (4:46): the most traded stocks & ETFs by Bell Direct clients• (5:16): economic data to watch next week.

US equities closed mixed overnight after the Federal Reserve kept rates on hold at 5.25% – 5.5% and ruled out that the central bank’s next move could be a hike. While the Dow Jones closed higher off the back of the Fed’s announcement, the broader market finished lower after a volatile trading session. During the session the S&P500 was up 1.2% before closing 0.34% lower, and the tech-heavy Nasdaq had climbed 1.7% before closing 0.33% lower.What to watch today:The Australian market is set to open 0.07% lower this morning, following heavy losses yesterday across all industry sectors. The ASX200 closed yesterday’s trading session down 1.23%, with energy and materials weighing down on the market the most.The market will also be watching NAB’s share price today. The bank released its half-year results this morning and announced it will buy back up to $1.5 billion of its own stock as profit at the lender came in line with expectations. Cash earnings declined 13% to $3.55 billion in the six-month period ending March 31.Also today, continue to watch Qantas shares following a data breach on the airline’s app yesterday. Qantas passengers were seeing details of other customers on their app, including the name, flight details and loyalty points. QAN declined 1.2% yesterday.Also watch Woolworths (ASX:WOW) after the supermarket sold down its stake in Endeavour (ASX:EDV). Woolworths may see an uptick today after closing in the red yesterday, after announcing the $468 million Endeavour sell down, which offset a broad market sell-off. Endeavour Groups (ASX:EDV) share price is looking bullish today, so keep watch of Endeavour as well.The market will also be watching NAB’s share price today when the bank releases its half-year results. Goldman Sachs are expecting the bank to declare an 81cps full franked interim dividend, down 2.4% on last year’s interim dividend.In commodities,Oil is trading more than 3.4% lower at US$79 per barrel, the lowest price in over a month as a rebound in US crude stockpiles supported supply of a ceasefire in the Middle East.Gold is trading higher, advancing more than 1.3% to $2,321 per ounce, but remaining near the low levels seen about a month ago, as US traders digest the latest Fed meeting.And iron ore is steady at US$110 per tonne.And in economic news, balance of trade data for March will be released at 12:30pm today.Trading Ideas:Bell Potter maintains their Buy rating on Aeris Resources (ASX:AIS), after the multi-mine copper-gold production and exploration company released its March quarterly report. Bell Potter have increased their 12-month price target from $0.23 to $0.30, and at the current stock price of $0.25, this implies 17.6% share price growth in a year.And Trading Central have identified a bearish signal in Sigma Healthcare (ASX:SIG) indicating that the stock price may fall from the close of $1.25 to the range of $1.08 - $1.12 over 35 days, according to the standard principles of technical analysis.To receive more insights and research that is available exclusively to Bell Direct clients, open your Bell Direct account here.

Wall Street tumbled on Tuesday to close out a losing month following the release of the latest inflation related data and ahead of the Fed’s latest interest rate decision out on Wednesday US time. The S&P500 fell 1.57%, the Dow Jones lost 1.5% and the tech-heavy Nasdaq tumbled 2.04%. For the month of April, the three key indices are set to post a notable loss. Higher-than-expected wages data has raised investor concerns of the rate cut outlook out of the Fed. For the first quarter, the employment cost index which measures wages and benefits, climbed 1.2% which was above economists’ expectations of a 1% rise.Across the European markets overnight, markets closed in the red to record their first negative month since October as investors assessed the latest slew of earnings results. The STOXX600 fell 0.6% on Tuesday, Germany’s DAX lost 1.03%, the French CAC declined 0.99% and, in the UK, the FTSE100 closed Tuesday’s session down just 0.04%.  In Asia overnight, markets closed mostly higher as investors assessed factory activity figures out of China which came in at an expansion to 50.4 in April compared to 50.8 in March which beat economists’ expectations but indicated a slower pace of activity expansion in the world’s second largest economy. Japan’s Nikkei closed flat, Hong Kong’s Hang Seng index rose 0.09%, and South Korea’s Kospi index rose 0.17%. The local market has started the week on a green run, with the key index closing Tuesday’s session up 0.35% led by consumer discretionary and real estate stocks, which are two of the rate sensitive sectors. Lithium miners and explorers got a much-needed boost yesterday on a rise in the price of lithium carbonate, which sent Arcadium Lithium to the top of the ASX200 winners with an 8.4% rise, while IGO rose 7.3% and Liontown Resources added 2.9%. Investors got a boost from Australia’s retail spend data coming out yesterday for March indicating a 0.4% fall in consumer spend, which was well below the 0.2% rise economists were expecting. Retail spend is a key driver of inflation and this reading is a key supporting factor for the RBA to realise some key inflation drivers are easing, which supports the notion to maintain rates at the current level instead of considering another rate hike. Earnings season continues in Australia for the latest quarter which saw investors respond with mixed reactions on Tuesday. Australian fuel supplier and producer Ampol fell 3.3% after reporting a 21% drop in its Lytton Refiner Margin and a 7.3% decline in refinery production over the last three months. What to watch today:Ahead of the midweek trading session here in Australia the SPI futures are expecting the ASX to open the day down 1.20%, tracking the global sell-off overnight.On the commodities front this morning, oil is down 0.92% at US$81.96/barrel, gold is down 1.61% at US$2295/ounce and iron ore is up 0.35% at US$110.54/tonne.AU$1.00 is buying US$0.65, 102.26 Japanese Yen, 52.05 British Pence and NZ$1.10. Trading Idea:Bell Potter has downgraded Telix Pharmaceuticals (ASX:TLX) from a buy to a hold and maintain a $14.50 price target on the leading cancer imaging and therapy agent pharmaceuticals company following the release of an outstanding 1Q24 revenue growth and a major inflection point approaching for the company through its first therapeutic asset being a crucial piece of the long-term value proposition. The downgrade to a hold is simply due to valuation as the share price has been on a run recently, and this is the first downgrade since Bell Potter first initiated coverage of the company in 2021.

Wall Street opened the new trading week higher as investors prepare for a big week of corporate earnings results and the latest Federal Reserve meeting. The Dow Jones rose 0.38%, the S&P500 added 0.32% and the tech-heavy Nasdaq gained 0.35%. Tesla jumped more than 15% on Monday after overcoming a hurdle for its self-driving technology in China, while Domino’s Pizza gained more than 5% after reporting earnings that beat analysts’ expectations. Across European overnight, markets closed mixed as investors assessed key earnings, company updates and inflation data out in the region. The STOXX600 rose 0.1%, Germany’s DAX fell 0.24%, the French CAC lost 0.29%, and, in the UK, the FTSE100 ended the day up 0.14%. The driver of Germany’s sell-off was the latest preliminary inflation reading coming in at an annual rate of 2.4% for April, which is a 0.6% rise from March and up 2.3% year-on-year. Dutch medical device giant Philips soared 29% on Monday after the company agreed to a $1.1bn settlement in a U.S. case regarding the recall of some of the company’s products that treat sleep apnoea. Across Asia on Monday, markets closed mostly higher as the Japanese yen strengthened and ahead of key economic data out in the region today including China’s official purchasing managers index for April. Japan’s Nikkei rose 0.81% on Monday, Hong Kong’s Hang Seng index rose 0.54%, and China’s CSI 300 rose 1.11%. The local market kicked off the new trading week in positive territory on the back of strong corporate earnings results that impressed investors in addition to taking strong lead from the US rally that ended last week on a high. The ASX200 closed Monday’s session up 0.81% with every sector ending the day in the green. Embattled casino operator Star Entertainment Group (ASX:SGR) rallied over 2% on Monday after the company announced Chairman David Foster has stepped down from his role, with the board appointing board member Anne Ward to replace Mr. Foster as the company looks to overcome recent challenges. Weak annual recurring revenue in Megaport’s (ASX:MP1) latest update led to investors selling out on Monday which sent the share price down over 5%, despite the IT company upgrading FY24 EBITDA guidance. Australia’s retail sales data is out today with the market expecting a 0.2% rise in March from February which would be a slight decline from the 0.3% reported in February and will provide another indicator that inflation is easing as consumer retail spend is a key driver of inflation.What to watch today:Ahead of Tuesday’s trading session in Australia the SPI futures are expecting the ASX to open the day up 0.16% tracking global gains overnight.On the commodities front this morning, oil is trading 1.2% lower at US$82.72/barrel, gold is down just 0.08% at US$2335.86/ounce and iron ore is up 0.44% at US$110.16 per tonne.AU$1.00 has strengthened to buyUS$0.66, 102.54 Japanese Yen, 52.36 British Pence and NZ$1.10. Trading Ideas:Bell Potter has maintained a buy rating on Coventry Group (ASXCYG) and raised the 12-month price target on the leading Australian industrial supply and services group after the company announced the acquisition of Steelmasters which is Australia and New Zealand’s third largest specialty fastener distributor, for an upfront cash consideration of NZ$45m. Coventry is funding the acquisition with a fully underwritten $25m two-tranche institutional placement and after receiving strong support from investors, upsized the raising to $30m.Trading Central has identified a bullish signal on Pilbara Minerals (ASX:PLS) following the formation of a pattern over a period of 53-days which is roughly the same amount of time the share price may rise from the close of $3.96 to $5.00 to $5.20 according to standard principles of technical analysis.

Wall St returned to rally mode on Friday following the release of strong earnings results and fresh US inflation data. The S&P500 and Nasdaq both posted their best week since November and closed up 1.02% and 2.03% respectively on Friday while the Dow Jones added 0.4% ended Friday’s session up 0.4%. Alphabet was a key driver of the rally on Friday with the stock lifting 10% after the tech juggernaut posted better-than-expected first quarter earnings while Microsoft added nearly 2% on the release of strong third-quarter results driven by an uptick in cloud growth.Investors also digested March’s core personal consumption expenditures index reading which came at a rise of 2.8% which was ahead of expectations of 2.7%.In Europe on Friday, strong earnings results out in the region also prompted investors to rally around equities to close the week on a high with the STOXX600 rising 1.2% while Germany’s DAX added 1.36%, the French CAC rose 0.89% and in the UK, the FTSE100 gained 0.75% on Friday.The global rally outside of Australia on Frida y extended to the Asia markets, rebounding from the recent sell-off in the region, led by Japan’s Nikkei climbing 0.81% on the BOJ maintaining interest rates at 0%-01% for another month as expected and Tokyo’s headline inflation coming in at 1.8%, easing from the 2.6% reported in March.The local market ended Friday’s session down 1.4%, as hotter-than-expected inflation data released on Wednesday continues to push bond yields higher and dampens investor hopes of interest rate cuts out of the RBA in the near future. When interest rate outlook is uncertain, investors tend to flock to investments that offer safer returns like government bonds which is why the Australian 10-year bond jumped 19 basis points to 4.59% and the 1-year bond jumped 13 basis points to 4.36% which tops the current cash rate of 4.35%. Investors locally also took strong lead from Wall Street Thursday after weaker-than-expected GDP data was released, indicating the high interest rate environment is dampening growth for the world’s largest economy.Every sector locally ended Friday’s session in the red led by the rate sensitive real estate sector which tumbled over 2% as companies in the REIT space wear the full costs of the high interest rate environment unlike other sectors that can pass on the rising costs associated with interest rate hikes. The materials sector was also weighed down on Friday by BHP falling over 4.4% after the mining giant announced a takeover bid worth almost $60m for copper miner Anglo American, which was subsequently rejected by Anglo American this afternoon on the grounds of materially undervaluing the company.What to watch today:Ahead of the first trading session of the new week, the SPI futures are expecting the ASX to open Monday up 0.32% tracking Wall Street’s rally on Friday.On the commodities front this morning, oil is trading 0.05% lower at US$83.72/barrel, gold is up 0.31% at US$2337/ounce and iron ore is up 0.44% at US$110.16/tonne.Trading Ideas:Bell Potter has increased the 12-month price target on Regis Resources (ASX:REG) from $2.60 to $2.80 and maintain a buy rating on the gold miner following the release of the company’s March quarter update which came in below Bell Potter expectations as a result of rainfall impact on operations, however, the price target increase is due to gold price tailwinds and the company completing its first full quarter of unhedged gold sales.And Trading Central has identified a bullish signal on Champion Iron (ASX:CIA) following the formation of a pattern over a period of 16-days which is roughly the same amount of time the share price may rise from the close of $7.12 to the range of $7.55 to $7.65 according to standard principles of technical analysis.

Wall St closed lower overnight after the latest economic data showed a slowdown in growth, pointing to persistent inflation. The Dow Jones closed nearly 1% lower, the S&P500 closed 0.46% in the red and the tech-heavy Nasdaq fell 0.64%. US GDP data was released overnight, coming in at 1.6% in the first quarter which was lower than the forecast of 2.4%. Inflation data also increased at a 3.4% pace, above the previous quarters 1.8% advance.Over in Europe, markets closed lower as investors react to the latest set of earnings. The STOXX600 closed 0.6% lower with the majority of sectors closing in the red with industrial stocks falling 1.9% whilst healthcare added 0.2%. Germany’s DAX fell 0.95%, the French CAC lost 0.93%, whilst over in the UK, the FTSE100 ended the trading session nearly half a percent in the green.And locally yesterday, markets were closed for the ANZAC Day public holiday.What to watch today:The Australian market is set to open lower, with the SPI futures suggesting a fall of 0.34% at market open this morning.On the commodities front this morning, Oil is trading 1.29% higher at 83 US dollars and 77 cents a barrel following US crude inventories falling by 3.37 million barrels last week. Gold is trading 0.7% higher at 2332 US dollars an ounce and iron ore is trading 0.43% higher at 109 US dollars and 23 cents a tonne.Trading Ideas:Bell Potter has maintained a buy rating on Beach Energy (ASX:BPT) and has a 12-month price target of $1.80. The buy rating is maintained by Bell Potter as BPT is rolling-off peak capex into a step-change in production and free cash flow in FY25-26. The company has retained a strong balance sheet capable of supporting the group’s progressive dividend policy. With a positive view on Australian east coast gas and LNG markets, and a strong production and earnings growth outlook, a buy rating is maintained.And Trading Central has identified a bullish signal on NextGen Energy (ASX:NXG), indicating that the stock price may rise from the close of $12.10 to the range of $13.70-$14.00, on a pattern formed over 15 days according to the standard principles of technical analysis.

Over in the US on Tuesday, strong corporate earnings results drove Wall Street into rally territory following a turbulent, widespread sell-off last week. The Dow Jones rose 0.69%, the S&P500 gained 1.2% and the Nasdaq ended the session up 1.6%. Music streaming platform Spotify jumped 11.4% on Tuesday after beating Wall Street’s first-quarter expectations, while Tesla is set to report earnings after the closing bell today. So far, 20% of the S&P500 companies have reported with 76% having beaten analysts’ expectations according to FactSet.In Europe overnight, markets closed higher also due to strong corporate earnings reports being released. The STOXX600 rose 1.1% on Tuesday as all sectors aside from mining closed the day in the green. Germany’s DAX rose 1.55% yesterday, the French CAC added 0.81%, and the UK’s FTSE100 rose to another intra-day record high before settling the day up 0.26%. The ease in gains on the FTSE100 followed the Bank of England’s chief economist making hawkish comments regarding the rate cut outlook in the UK.Asia markets closed mostly in the green on Tuesday as favourable business activity in the region indicated faster expansion of activity in April, in a rebound for key economies across Asia. Japan and India recorded faster rates of expansion in April across the business sector which prompted Japan’s Nikkei to rise 0.3% on Tuesday, while Hong Kong’s Hang Seng rose 2% and South Korea’s Kospi index closed just 0.24% lower on Tuesday.The local market has recovered from last week’s sell-off to start this week in positive territory with Tuesday’s session closing up 0.45%, driven by Wall Street’s rally on Monday and ahead of key local inflation data out just before midday today with the market expecting a stark decline in inflation from an annual rate of 4.1% in Q4 to 3.4% in Q1. Tech stocks led the charge on Tuesday rallying 1.73% on inflation and rate cut outlook, while energy stocks came under pressure amid the sliding price of oil over the last week.Gold producers were also sold off on Tuesday on the declining price of the precious commodity which sent Ramelius, Regis Resources and St Barbara lower yesterday.Soft almond prices caused investors to flee Select Harvests on Tuesday, sending the price of the almond producer down 11%, while investors also sold out of Lifestyle Communities after the company signalled lower home settlements than expected in the latest update.Brambles was one of the leading losses on Tuesday after the pooling and logistics solutions company posted a trading update that disappointed investors.What to watch today:Ahead of the midweek trading session here in Australia the SPI futures are expecting the ASX to open the day up 0.31%, tracking Wall Street’s rally overnight.On the commodities front this morning oil is trading 1.5% higher at US$83.35/barrel, gold is down 0.4% at US$2324.68/ounce and iron ore is up 0.34% at US$108.62/tonne.AU$1.00 is buying US$0.65, 100.43 Japanese Yen, 52.06 British Pence and NZ$1.09.Trading Ideas:Bell Potter has increased the 12-month price target on MedAdvisor (ASX:MDR) from 44cps to 47cps and maintain a buy rating on the healthcare tech company following the release of a strong Q3 result out of the company driven by US growth including revenue of $99.8m YTD, and Q3 revenue of $24.2m which is up 42% on the PCP. The Q3 update gives Bell Potter’s analyst confidence that MedAdvisor is executing nicely on its path to profitability.And Bell Potter has maintained a buy rating and price target of $6.35 on Boss Energy (ASX:BOE) following the announcement of the company’s first drums of uranium being produced at its Honeymoon mine in South Australia, making Boss’s Honeymoon mine the third uranium mine operating in Australia.

Wall St closed higher overnight as the S&P 500 broke a 6-day losing streak. The Dow Jones gained 0.67%, the tech-heavy Nasdaq rallied 1.11% and the S&P 500 ended the trading session 0.87% in the green.In terms of US shares, Nvidia jumped 4.4% following a 14% sell off last week with Arm Holdings also rebounding nearly 7% overnight.Over in Europe, markets closed higher with the STOXX600 closing 0.6% higher with the majority of sectors ending the day higher. Gains were led by telecoms stocks which rose 2.1%, whilst auto stocks fell 0.8%.Locally yesterday, the ASX200 closed over 1% higher with all but one sector in the positive. Gains were led by the health and communication services sectors which gained 1.97% and 1.73% respectively. This was offset by the energy sector which fell 1.51% on Monday.What to watch today: The Australian share market is set to open higher, with the SPI futures suggesting a rise of 0.25% at market open this morning.On the commodities front this morning, Oil is trading 0.09% lower at US$82.14 a barrel as geopolitical tensions continue in the middle east. Gold is trading 2.70% lower at US$64.59 an ounce as Tehran downplayed Israel’s strike against Iran which moved investors away from the safe-haven asset. And iron ore is trading 0.28% higher at US$108.25 a tonne as markets predict higher demand from Chinese steel producers.Trading Ideas: Bell Potter has maintained a buy rating on AMA Group (ASX:AMA) and has a 12-month price target of $0.12. The buy rating is maintained by Bell Potter as AMA released its appendix for the third quarter of FY24 with EBITDA up 43% year-on-year. The $0.12 price target is a greater than 100% premium to the share price so Bell Potter maintains the buy recommendation.And Trading Central has identified a bullish signal on IVE Group (ASX:IGL), indicating that the stock price may rise from the close of $2.11 to the range of $2.38-$2.44, on a pattern formed over 31 days, according to the standard principles of technical analysis.

Wall Street ended Friday’s session mostly in the red as the theme has gone in the U.S. over the last week with investor jitters rising amid fears of a pushback in the rate cut outlook from the Fed due to inflation remaining sticky in the world’s largest economy.The Nasdaq fell over 2% on Friday as investors retreat from chip stocks including Nvidia plummeting 10%, and Netflix falling 9% even after quarterly results beat market expectations. The Dow Jones bucked the downfall trend on Friday by rising 0.56%, while the S&P500 slipped 0.88%. While investor sentiment in the U.S. has primarily been focused on the rate outlook over the last week, investors have also been equally as concerned over rising tensions in the Middle East.The S&P500 had its worst week last week since March 2023 while the Nasdaq lost 5.5% and the Dow Jones gained 0.01% over the trading week.Over in Europe markets it was a different story as investor sentiment was boosted by rate cut speculations out of the ECB. The STOXX600 rose 0.3% on Friday, Germany’s DAX fell 0.55%, the French CAC closed flat and, in the UK, the FTSE100 rose 0.24%. Banks led the gains in the region while energy stocks dropped 1.5% on the sliding price of oil.In Asia on Friday, markets tumbled amid escalating tensions in the Middle East, particularly on the back of Israel’s attack on Iran. Japan’s Nikkei fell 2.66% on Friday as key inflation data in the region indicated headline inflation fell to 2.7% in March, from 2.8% in February. South Korea’s Kospi index fell 1.63%, and Hong Kong’s Hang Seng fell 0.99%.Locally on Friday the ASX200 fell just shy of 1% as all 11 sectors closed the day in the red led by the rate sensitive sectors as tech dropped 1.55% and REIT stocks fell 1.45%. Karoon Energy fell 5.4% on Friday after downgrading guidance for oil production in FY24.The price of gold rallied to a record high on Friday above US$2400/ounce as the safe-haven asset soars in popularity both from investors and global banks amid rising geopolitical tensions and deflationary pressures in certain key economies around the world.What to watch today:Ahead of the first trading session to start the new week, the SPI futures are expecting the ASX to open the trading day down 0.6%, extending on the negative sentiment from last week.On the commodities front this morning oil is down 0.1% to trade at US$83.03/barrel, gold is down 0.3% at US$2384/ounce and iron ore is up 0.28% at US$108.25/tonne.AU$1.00 is buying US$0.64 cents, 99.30 Japanese Yen, 51.87 British Pence and NZ$1.09.Trading Ideas:Bell Potter has increased the 12-month price target on Gold Road Resources (ASX:GOR) from $1.85 to $2.10 and maintained a buy rating on the gold producer following the release of the 1Q24. Despite significant rain events impacting production and damaging the road supply route to the company’s Gruyere project, Bell Potter’s analyst believes the mining issues have now been overcome and the company’s share price to recover, supported by gold price tailwinds.And Trading Central has identified a bearish signal on Sigma Healthcare (ASX:SIG) following the formation of a pattern over a period of 27-days which is roughly the same amount of time the share price may fall from the close of $1.25 to the range of $1.08 to $1.12 according to standard principles of technical analysis. 

Wall St closed lower overnight as the S&P 500 fell for the fifth straight day, its longest losing streak since October. The Dow Jones gained 0.06%, the tech-heavy Nasdaq lost over half a percent and the S&P 500 lost 0.22%.Over in Europe, markets closed higher as investors speculate about the first interest rate cut by the European Central Bank. Germany’s DAX closed 0.38% higher, the French CAC closed 0.52% in the green and over in the UK, the FTSE100 ended the trading session up 0.37%.Locally yesterday, the ASX200 closed 0.48% higher with the majority of the sectors rallying. Gains were led by the information technology and materials sectors which gained 1.01% and 0.99% respectively. This was offset by the health sector which lost 0.47% by market close yesterday.What to watch today: The Australian share market is set to open lower, with the SPI futures suggesting a fall of 0.72% at market open this morning.On the commodities front this morning, Oil is trading 0.64% lower at US$82.16 a barrel, following a surge in US oil inventories. Gold is trading 0.48% higher at US$2379 an ounce after financial chiefs in the US, Japan and Korea signalled a warning over depreciation in currencies. And iron ore is trading 1.16% higher at US$107.30 a tonne.Trading Ideas: Bell Potter maintains a buy rating on APM Human Services International (ASX:APM) despite decreasing its 12-month price target to $1.40. The buy rating is maintained by Bell Potter following the APM board receiving an offer of $1.40 per share from MDP. Hence, the 12-month target price target reflects the offer from MDP, which is believed by Bell Potter, likely to proceed.And Trading Central has identified a bullish signal in Pointsbet Holdings (ASX:PBH), indicating that the stock price may rise from the close of $0.81 to the range of $0.88-$0.90, on a pattern formed over 24 days, according to the standard principles of technical analysis.

Wall St closed lower on Wednesday with the S&P500 posting its fourth consecutive losing session, as key technology names weighed on the market midweek. The Dow Jones fell 0.12% on Wednesday, the S&P500 lost 0.58% and the tech-heavy Nasdaq declined 1.15%. High growth stocks faced the biggest pressure on Wednesday as the Fed’s higher for longer consensus dampens growth runways for stocks of this nature. Investors in the US have been trimming the megacap names like Nvidia, Meta and Apple in favour of other market sectors that have attractive outlook over the coming months.United Airlines surged more than 17% on Wednesday after posting a smaller than expected loss and beating on revenue expectations.Over in Europe, markets in the region closed higher as retail stocks posted modest sales growth. The STOXX600 rose 0.2%, Germany’s DAX added 0.02%, the French CAC added 0.62%, and, in the UK, the FTSE rose 0.35%.Shares in luxury retailer LVMH group climbed as much as 5.2% during the session before easing gains at the closing bell after the company posted modest first quarter sales growth. UK inflation also eased more than expected in March to an annual rate of 3.2%, which was just 0.1% above economists expectations.Looking at the local index, the ASX200 extended its losing run, closing down 0.09% on Wednesday, taking strong lead from global markets on Tuesday amid concerns over sticky inflation and rising geopolitical tensions. Utilities stocks offset some of the losses by rallying 2.8% while healthcare, materials and energy stocks weighed on the key index.Evolution Mining jumped over 8% on Wednesday to a two-year high after reporting a 15% rise in gold output for March and the company affirmed its 2024 guidance.Mining giant Rio Tinto disappointed the market yesterday after reporting a drop in iron ore production and shipments in Q1.DroneShield also soared 17% yesterday after the defence tech company released a second significant announcement this week, outlining the company was awarded a contract with NATO’s Support and Procurement Agency for the first Counter-small UAS procurement framework agreement in NATO history. The initial agreement is for three years with extension options. This announcement follows DroneShield announcing a first-quarter update earlier in the week including record Q1 revenues of $16.4m, which is 10x the PCP.What to watch today: Ahead of Thursday’s session on the ASX, the SPI futures are expecting the local market to open the day up 0.26% tracking some global market gains overnight.On the commodities front this morning, oil has retreated to trade down 3.05% at US$82.76/barrel, gold is down 0.5% at US$2365/ounce, and iron ore is up just 0.02% at US$106.07/tonne.AU$1.00 is buyingUS$0.64, 99.30 Japanese Yen, 51.59 British Pence and NZ$1.09.Trading Idea: Trading Central has identified a bearish signal on Mirvac Group (ASX:MGR) following the formation of a pattern over a period of 46-days which is roughly the same amount of time the share price may fall from the close of $2.10 to the range of $1.82 to $1.88 according to standard principles of technical analysis.

Wall street closed mixed on Tuesday after Fed Chair Jerome Powell said interest rates may need to stay higher for longer if inflation drivers and prices remain sticky. The Dow Jones rose 0.17%, boosted by UnitedHealth shares on the back of better-than-expected first quarter revenue. The S&P500 fell 0.21% on Tuesday and the tech-heavy Nasdaq ended the day down 0.12%.Powell remarked that recent data shows solid economic growth and continued strength in the labour market, but lack of further progress so far this year on returning to the Fed’s target 2% inflation rate goal is holding back rate cut outlook.In Europe overnight, markets closed lower as investors assessed developments in the Middle East tensions. The STOXX600 fell 1.6%, weighed down by mining and banking stocks. Germany’s DAX ended Tuesday’s session down 1.44%, the French CAC lost 1.4% and, in the UK, the FTSE100 declined 1.82%.Across Asia markets overnight, markets closed lower as investors assessed economic data and await Israel’s response to Iran’s attack over the weekend. South Korea’s Kospi index fell 2.28% on Tuesday, Japan’s Nikkei lost 1.94%, and Hong Kong’s Hang Seng lost 2.12%.Over in China, the CSI index fell 1.07% on Tuesday following the release of key economic data released painting a very mixed picture into the recovery progress for the world’s second largest economy. GDP Growth rate came in above expectations at 5.3% for Q1 on an annual basis, where economists were expecting a 5% rise, indicating economic growth is underway. Conversely though, industrial production came in at a 4.5% rise for March on an annual basis which is a decline from the 7% rise recorded in February and well below economists’ expectations of a 5.4% rise, indicating industrial output continues to struggle post-pandemic. Retail Sales data also out in China yesterday came in at a rise of 3.1%, which similar to industrial production, is a 2.4% decline on February and was well below economists’ expectations, indicating Chinese retail consumption is sliding. The local market had its worst trading session in over a year as the ASX closed Tuesday’s session down 1.81%, tracking Wall Street’s turbulence on Monday following the releasee of stronger-than-expected retail sales out in the US which further dents hopes of rate cuts in the near-term for the world’s largest economy. Escalating tensions in the Middle East also crippled investor sentiment toward riskier high growth assets like tech and real estate stocks, however, all 11 sectors closed in the red on Tuesday.What to watch today:Ahead of the midweek trading session here in Australia the SPI futures are anticipating the ASX to open the day down 0.3% on the back of the global sea of red overnight.On the commodities front this morning, oil has retreated to trade 0.16% lower at US$85.26/barrel, coal is up 2.06% at US$136.50/tonne, gold is up 0.06% at US$2392/ounce and iron ore is flat at US$106.05/tonne.Trading Ideas:Bell Potter has downgraded the rating on Cooper Energy (ASX:COE) from a buy to a hold and have increased the 12-month price target on the gas exploration and development company following the release of the company’s Q3FY24 trading update including quarterly gas production of 5.5Petajoules, sales of 5.6Petajoules and revenue of $51.8m which were all in-line with Bell Potter’s expectations. The downgrade to a hold for Cooper Energy follows recent share price appreciation and ahead of the company’s expected achievement of free cash flow generation in FY25.And Trading Central has identified a bearish signal on Challenger (ASX:CGF) following the formation of a pattern over a period of 46-days which is roughly the same amount of time the share price may fall from the close of $6.50 to the range of $5.80 to $5.90 according to standard principles of technical analysis.

Wall St closed lower overnight as geopolitical tensions continue in the Middle East. The Dow Jones fell 0.65%, the S&P500 lost 1.2% and the tech-heavy Nasdaq ended the trading day, 1.79% in the red.The CBOE Volatility index, Wall Street’s fear gauge closed at its highest level since October following Iran’s attack on Israel on Saturday night, the first direct attack on Israel from Iran.Over in Europe, markets closed mixed as investors react to the Middle Eastern War. The STOXX600 closed marginally higher with oil and gas stocks leading losses down 1.6%. Germany’s DAX rose over half a percent, the French CAC gained 0.43% and over in the UK the FTSE100 closed 0.38% lower.Locally yesterday, the ASX200 closed 0.46% lower with the majority of the sectors finishing in the red. Losses were led by the information technology and communication services sectors which lost 1.75% and 1.05% respectively. This was offset by the energy sector which gained 0.38%.What to watch today: The ASX200 is set to open lower with the SPI futures suggesting a fall of 0.81% at market open this morning.On the commodities front this morning,Oil is trading 0.06% higher at US$85.68 a barrel as investors react to the Middle Eastern tensions. Gold is trading 1.71% higher at US$2383 an ounce and iron ore is trading 1.28% higher at US$106.05 cents a tonne as markets increased their bets of higher demand for iron from Chinese steel producers.Trading Ideas: Bell Potter maintains a buy rating on Life360 (ASX:360) and has a 12-month price target of $16.25. The buy rating is maintained by Bell Potter with first quarter results to be released on the 10th of May, with forecasts and already released metrics implying a solid quarter and a positive start to the year.And Bell Potter maintains a hold rating on Droneshield (ASX:DRO) and has increased its 12-month price target to $1.00. The hold rating is recommended as despite strong results in 2024, the announcement of only one single material contract year to date makes Bell Potter believe there is a heightened downside risk at current levels if contracts in the pipeline are delayed until the second half.

Rising geopolitical tensions and inflation concerns were the drivers of Wall Street’s negative close on Friday with the Dow Jones suffering its worst session since January. The launch of attacks on Iran from Israel fuelled oil prices to surge over the weekend paired with fresh U.S. imports data added fuel to investors concerns of rising inflation pushing back the outlook for rate cuts in the world’s largest economy.The Dow Jones fell 1.24% on Friday and 2.37% for the week, the S&P500 lost 1.46% on Friday and 1.56% for the week and the tech-heavy Nasdaq lost 1.62% on Friday and 0.45% for the week.First quarter results in the U.S. have started being released with Wells Fargo sliding 0.4% on Q1 results while Citigroup declined 1.7% despite posting a beat in revenue. JPMorgan Chase fell 6% on Friday after the banking giant posted first quarter results including outlook for net interest income to likely come in slightly short of what Wall Street is expecting for 2024.Over in Europe, markets closed mixed on Friday as investors digested key economic data and assessed the latest inflation reading out of the US. The STOXX600 rose 0.06% led by mining stocks rising 2.4%, Germany’s DAX fell 0.13%, the French CAC fell 0.16%, and, in the UK, the FTSE100 rallied 0.91%. British economic output increased by 0.1% MoM in February which was inline with expectations, and provides a further sign of slight improvement in economic stability following sluggish growth over recent months. The European Central Bank also announced the holding of interest rates for a fifth consecutive meeting on Thursday but gave its clearest signal yet that rate cuts are on the horizon in the near future.In Asia on Friday, markets closed mixed in the region as economic data and key inflation readings sparked mixed investor reactions. Hong Kong’s Hang Seng lost 2% and China’s CSI Index fell 0.81% following China’s exports falling more than expected in the month of March, coming in at a decline of 7.5% compared to the 2.3% fall economists were expecting.Locally on Friday the ASX closed the final trading session of the week lower as investors continue to question rate cut hopes out of the RBA and Fed. The ASX200 fell 0.3% on Friday but rose 0.3% for the week. Consumer staples and discretionary stocks weighed on the market on Friday but some of the heavy losses were offset by strong gains for utilities and tech stocks.Star Entertainment Group fell 7.3% on Friday after reporting a significant decline in revenues from its gaming rooms, while Cettire dropped almost 7% despite preliminary sales figures for Q3 coming in strong.What to watch today:Ahead of the local trading session here in Australia to start the new trading week, the SPI futures are expecting the ASX to open Monday’s session down 0.64% tracking Wall Street’s losses on Friday.On the commodities front this morning, oil is trading 0.36% lower at US$85.36/barrel, gold is up 0.7% at US$2359/ounce and iron ore is up 1.28% at US$106.50/tonne.AU$1.00 is buying US$0.64, 99.22 Japanese Yen, 52.29 British Pence and NZ$1.09.Trading Ideas:Bell Potter has increased the rating on Cettire (ASX:CTT) from a hold to a buy but have reduced the 12-month price target on the online fashion retailer from $4.50 to $4.00 per share following the release of a Q3 trading update including sales revenue of $168m which was 88% higher than the PCP and was a 14% beat on Bell Potter expectations, however, adjusted EBITDA margins of 3% were a miss to Bell Potter’s expectations.And Trading Central has identified a bullish signal on Bega Cheese (ASX:BGA) following the formation of a pattern over a period of 33-days which is roughly the same amount of time the share price may rise from the close of $4.16 to the range of $4.65 to $4.75 according to standard principles of technical analysis.

Rate cuts are on hold as US inflation unexpectedly heats up. The latest data reveals a second consecutive month of rising inflation, dashing hopes for a cool down in June. We'll delve into the key drivers of this inflation surge and what it means for you. In this week’s wrap, Grady covers:  (0:10): the latest US inflation reading(0:43): the outlook on the Fed rate cut(0:54): key inflation drivers(4:20): what this means for investors(5:43): the most traded stocks & ETFs by Bell Direct clients(6:13): economic data to watch next week.

Wall St closed higher overnight as tech shares climbed higher following concerns of persistent inflation. The S&P500 rallied 0.74%, the tech-heavy Nasdaq climbed 1.68% while the Dow Jones closed flat. In terms of US stocks, Nvidia jumped 4.1%, Amazon gained 1.7% and Alphabet ended the day more than 2% in the green.Over in Europe, markets closed lower overnight after the European Central Bank held rates steady. The STOXX600 closed 0.4% lower with most sectors in the red including banks which lost 2.4. Germany’s DAX lost 0.79%, the French CAC lost 0.27% and over in the UK the FTSE100 fell nearly half a percent.Locally yesterday, the ASX200 fell 0.44% with losses lead by the information technology and financial sectors, losing 1.71% and 1.3% respectively. This was offset by the material sector which gained 1.4% by market close.What to watch today: The Australian market is set to open lower, with the SPI futures suggesting a fall of 0.37% at market open this morning.On the commodities front this morning,Oil is trading 0.74% lower at US$85.58 a barrel, following hot inflation data coming out of the US. Gold is trading 1.57% higher at US$2372 an ounce as investors react to the latest inflation data and the implications it will have on the Fed’s monetary policy. And iron ore is trading 0.3% lower at US$104.02 a tonne.Trading Ideas: Bell Potter maintains a buy rating on Telix Pharmaceuticals (ASX:TLX) and has a 12-month price target of $14.50. The buy rating is maintained by Bell Potter as Telix has filed for a new investigational drug application for TLX591. TLX continues to pursue a NASDAQ listing primarily for the purpose of enabling better access to the deep pool of specialist investors focused on biotechnology and radiopharmaceuticals in the US. TLX591 is the first of the companies therapeutic products, hence there is a great deal riding on the opening of the investigational new drug.And Trading Central has identified a bearish signal in NIB Holdings (ASX:NHF), indicating that the stock price may fall from the close of $7.70 to the range of $7.13-$7.23 on a pattern formed over 26 days, according to the standard principles of technical analysis.

Rising treasury yields on the back of a hotter-than-expected inflation reading for March caused US investors to hit the sell button on equities on Wednesday with the Dow Jones falling 1.09% while the S&P500 lost 0.95% and the Nasdaq closed 0.84% lower.Key US inflation data out overnight came in higher than economists and markets were expecting at an annual rate of 3.5% in March compared to 3.2% in February and showed acceleration in inflation for a second straight month, indicating inflation in the world’s largest economy remains stickier than first expected. Energy costs and food inflation were two of the key drivers of the inflation rate rise and add support for the Fed to hold rates steady for a little while to come. Markets naturally responded negatively as investors had been holding out hope for rate cuts as soon as June.The Fed’s latest meeting minutes were also released just an hour ago where investor sentiment was dampened further by Fed officials’ concerns that inflation isn’t falling fast enough to the 2% target. US producer price index data is also out today with the market expecting a drop in the PPI from the 0.6% rise reported in February from January this year.In Europe on Wednesday, markets closed mixed in the region as investors digested the inflation reading out of the US. The STOXX600 closed 0.12% higher, Germany’s DAX rose 0.11%, the French CAC fell 0.05% and, in the UK, the FTSE100 ended the day up 0.33%.Across the Asia markets on Wednesday, markets closed mostly lower as Japan’s corporate inflation rate rose to 0.8%, which signals a third straight month of increase. Japan’s Nikkei fell 0.5% on Wednesday, Hong Kong’s Hang Seng rose 1.75%, China’s CSI Index lost 0.81% and South Korea’s Kospi Index closed flat.China’s all-important inflation data is also out today with the market expecting a decline to 0.4% YoY from 0.7% in February which would suggest that any hopes of China’s material recovery post-pandemic have eased.Locally, the ASX continued this week’s winning streak into the Wednesday’s session with the key index closing the day up 0.31%, with materials stocks again doing most of the heavy lifting with the sector ending the day up 2.34% amid the rising price of iron ore.Healthcare stocks also lifted the market on Wednesday as Ansell extended its rally a further 4% on the back of a major US acquisition announcement. Neuren rallied 2.2% and ResMed jumped 2.17% on Wednesday.What to watch today:Ahead of the local trading session on Thursday the SPI futures are expecting the ASX to open the day down 0.82% tracking Wall Street’s inflation-driven sell-off overnight.On the commodities front this morning, oil has rebounded to trade 1.2% higher at US$86.25/barrel, gold is down 0.82% at US$2334/ounce and iron ore is up 3.32% to trade at US$109/tonne.AU$1.00 is buying US$0.65, 99.51 Japanese Yen, 51.68 British Pence and NZ$1.09.Trading Ideas:Bell Potter has retained a buy rating on Capricorn Metals (ASX:CMM) and have increased the 12-month price target on the gold miner from $5.95 to $6.15 following the release of a production update at the company’s 100% owned Karlawinda Gold Project. Despite the company lowering its production guidance due to major rainfall impacting operations late in March, the analyst sees Capricorn has high quality operations at the Karlawinda Gold Project, low costs, a strong balance sheet and free cashflow which helps to mitigate the company’s single mine risk.Trading Central has identified a bullish signal on Yancoal Australia (ASX:YAN) following the formation of a pattern over a period of 21 days which is roughly the same amount of time the share price may rise from the close of $5.63 to the range of $5.94 to $6.02 according to standard principles of technical analysis. 

Wall St closed mostly higher across the major indices on Tuesday as investors sat back in anticipation of the release of key inflation data out on Wednesday. The Dow Jones fell just 0.02%, the S&P500 gained 0.14%, and the Nasdaq rose 0.32%.Key US inflation data is out later tonight which will indicate how well the Fed’s aggressive stance on interest rates has worked to tame inflation in the world’s largest economy. Economists’ are expecting core inflation rate, which excludes volatile items such as food and energy, to ease to 3.7% YoY for March and the overall inflation rate to increase to 3.4% in March from 3.2% in February amid escalating energy prices.In Europe overnight, a pullback across markets in the region was experienced as investors look toward key economic data out later this week to gauge how local and global inflation is faring. The STOXX600 fell 0.6% on Tuesday, Germany’s DAX lost 1.32%, the French CAC fell 0.86%, and, in the UK, the FTSE100 ended the day down 0.11%.Across Asia markets on Tuesday, regions closed mixed as investors assessed key consumer confidence data out of Japan and looked ahead to US inflation data out on Wednesday. Japan’s consumer confidence level rose to the highest level since May 2019, prompting Japan’s Nikkei to close up 1.08% on Tuesday, while South Korea’s Kospi fell 0.46% and Hong Kong’s Hang Seng ended the day up 0.7%.Locally, ASX started the week in positive territory which extended into Tuesday’s green close with the ASX200 ending the session up 0.45% led by materials stocks rising 1.5%. The materials rally was led by the rising price of iron ore on fresh hopes that China’s long-awaited economic recovery could be making some material progress thus driving demand outlook for iron ore.Westpac consumer confidence data for April and NAB business confidence data for March were both released yesterday with starkly different results indicating a clear difference in consumer vs business confidence at present.Westpac consumer confidence for April revealed a decline to minus 2.4% from minus 1.8% in March which is well below the rise to 0.5% economists were expecting, which paints a reading that Aussie consumers remain concerned over household finances and borrowing costs in the currently elevated interest rate environment.NAB business confidence on the other hand surprised both markets and economists, coming in at a rise of to 1 index point from a flat reading in February and above economists’ expectations of a decline to -3 points, indicating business sentiment is improving down under as inflationary pressures continue to ease.What to watch today:Ahead of the local midweek trading session, the SPI futures are expecting the ASX to open 0.31% higher on the back of Wall Street’s rally overnight.On the commodities front this morning, oil is trading 1.54% lower at US$85.22/barrel, gold is up 0.4% at US$2349/ounce and iron ore is up 3.43% at US$105.50/tonne.AU$1.00 is buying US$0.66, 100.45 Japanese Yen, 52.17 British Pence, and NZ$1.09.Trading Ideas:Bell Potter has maintained a buy rating on mining services and development company Develop Global (ASX:DVP), however, have decreased the 12-month price target on the company from $4.10 to $3.30 amid the restart of the company’s Woodlawn project expected to recommence production in 1HCY25, with Bell Potter’s analyst seeing the upcoming financing options for the restart project as an important upcoming catalyst for the company.And Trading Central has identified a bullish signal on Whitehaven Coal (ASX:WHC) following the formation of a pattern over a period of 39-days which is roughly the same amount of time the share price may rise from the close of $7.36 to the range of $8.15 to $8.35 according to standard principles of technical analysis.

Wall St closed Monday’s trading session mixed as investors await key US inflation data. The Dow Jones lost 0.03%, the S&P 500 fell 0.04%, while the tech-heavy Nasdaq gained 0.03%. US treasury yields also rose, up 4 basis points to 4.42%. In terms of US shares, Tesla shares gained 4.9% following the announcement from CEO, Elon Musk that the company’s robotaxi will be unveiled in August.Over in Europe, markets closed higher to start the trading week as investors await on decisions from the central bank. The STOXX600 ended the day 0.5% in the green, led by mining stocks which rallied 2% whilst media stocks fell 0.2%. Germany’s DAX rose 0.79%, the French CAC increased by 0.72% and over I the UK the FTSE 100 gained 0.41%.Locally yesterday, the ASX200 rose by 0.2% by market close, led by gains in the information technology and utilities sectors of 1.19% and 0.83% respectively. This was offset by the energy sector which lost 1.24% by closing bell.What to watch today: The Australian share market is set to open higher with the SPI futures suggesting a rise of 0.46% at market open this morning.On the commodity front this morning, Oil is trading 0.44% lower at US$86.57 a barrel as easing tensions in the Middle East outweighed expectations of tighter global supply.Gold is trading 0.41% higher at US$2339 an ounce and iron ore is trading flat at US$102 a tonne.Trading Ideas: Bell Potter has maintained a buy rating on Beach Energy (ASX:BPT), despite decreasing its 12-month price target to $1.80. The buy rating is maintained by Bell Potter as Waitsia Stage 2 and expansions in the Otways are key growth drivers for BPT, in a market where peers are struggling to lift production. BPT is rolling-off peak capex into a step-change in production and free cash flow in FY25-26 and has retained a strong balance sheet.And Trading Central has identified a bearish signal in Patriot Battery Metals (ASX:PMT), indicating that the stock price may fall from the close of $0.84 to the range of $0.71-$0.73 on a pattern formed over 23 days, according to the standard principles of technical analysis.

Wall Street recovered to rally mode on Friday as investors welcomed better-than-expected jobs data indicating the world’s largest economy remains robust as inflation falls and interest rates remain elevated. The rally on Friday was not enough to overcome a losing week across the key indices for Wall St though with the Dow Jones rising 0.8% on Friday but sliding 2.27% for the week, the S&P500 gained 1.11% on Friday but fell 0.95% over the week and the tech-heavy Nasdaq jumped 1.24% on Friday but ended the week down 0.8%. The US Labour Departments’ jobs report out of Friday showed jobs growth of 303,000 in March which beat economists’ expectations of 200,000. Wages also rose 0.3% for the month and 4.1% from a year ago which were in-line with estimates.Over in Europe, markets closed lower on the holiday-shortened trading week as investors digested key economic data. The STOXX600 fell 0.84%, Germany’s DAX lost 1.24%, the French CAC fell 1.11% and, in the UK, the FTSE100 ended Friday’s session down 0.84%. House prices fell 1% month-on-month in March which were below economists’ expectations of a 0.1% rise in a sign the housing market is crippling under the high interest rate pressure.Across the Asia markets on Friday, markets closed mixed as South Korea’s Kospi index soared 1.29%, while Japan’s Nikkei ended the day flat, and Hong Kong’s Hang Seng ended the day down 0.18%.Locally on Friday, the ASX200 posted its third loss over the shortened-trading week, ending the session down 0.6% as local investors were spooked by comments out of the Fed indicating rate cuts may not happen this year if inflation remains sticky.What to watch today:Ahead of the first trading session of the new week locally, the SPI futures are expecting the ASX to open Monday’s session up 0.5% tracking Wall Street’s rally on Friday.AU$1.00 is buying US$0.66, 99.62 Japanese Yen, 52.07 British Pence and NZ$1.09.On the economic calendar today, Australia’s home loans data for February is out just before midday with the expectation of a 2.25% rise in home loans MoM following a 4.6% drop in January which will indicate a rebound in Aussies’ appetite for home loans as rate cuts are on the horizon.Trading Ideas:Bell Potter maintains a speculative buy rating on Mesoblast (ASX:MSB) and have significantly increased the 12-month price target on the biotech company from 58cps to $1.40cps following the FDA informing MSB that the available clinical data from its Phase 3 study in children with steroid refractory acute graft versus host disease appears sufficient to support resubmission of the Biological Licence Application (BLA) for Remestemcel. Bell Potter’s analyst sees the best estimate for approval of Remestemcel is mid-August this year.And Trading Central has identified a bullish signal on NRW Holdings (ASX:NWH) following the formation of a pattern over a period of 15-days which is roughly the same amount of time the share price may rise from the close of $2.87 to the range of $3.10 to $3.16 according to standard principles of technical analysis.

Bell Direct's Market Analyst, Grady Wulff, is in Adelaide for the Resources Rising Stars conference. Grady’s interviewing top mining Executives and CEOs to talk about where their companies are at and how they're fairing in 2024.Tune in to see Grady catch up with:(0:36) Spartan Resources (ASX:SPR) Managing Director, Simon Lawson(2:38) Kingsland Minerals (ASX:KNG) Managing Director, Richard Maddox(4:17) Kin Mining (ASX:KIN) Exploration manager, Leah Moore(5:46) Australian Rare Earths (ASX:AR3) CEO, Travis Beinke. Learn what happened in the Australian market this week:https://www.belldirect.com.au/smarter/insights/articles/weekly-wrap-5-april-insider-access-grady-gets-up-close-with-top-mining-execs-at-resources-rising-stars-conference

Wall St closed lower overnight as investors await the release of jobs data on Friday. The Dow Jones closed 1.35% lower, the S&P 500 lost 1.23% and the tech-heavy Nasdaq fell 1.4%.Over in Europe, markets closed higher overnight following a slow start to Q2. The STOXX600 closed 0.16% higher with mining stocks gaining 1.7%, whilst chemicals fell 0.6%. Germany’s DAX rallied 0.19%, the French CAC lost 0.2% and over in the UK the FTSE100 closed just under half a percent higher.Locally yesterday, the ASX200 ended Thursday’s trading session 0.45% higher with all sectors finishing in the green. Gains were led by the information technology and utilities sectors which rose 1.18% and 0.94% respectively.What to watch today: The Australian share market is set to open lower, with the SPI futures suggesting a fall of 0.8% at market open this morning.On the commodities front this morning Oil is trading 1.32% higher at 86 US dollars and 60 cents a barrel as continuing geopolitical tensions interrupt oil supply. Gold is trading 0.28% lower at 2291 US dollars an ounce as investors await key US jobs data to be released on Friday. And iron ore is trading 1.92% lower at 102 US dollars a tonne.Trading Ideas: Bell Potter has maintained a speculative buy rating on EBR Systems (ASX:EBR) and has increased its 12-month price target to $1.43. The speculative buy rating is maintained by Bell Potter as the results from the sub-study released six months ago provided further support for EBR’s WiSE technology developed to eliminate the need for cardiac pacing leads. There is anticipated additional equity funding post FDA approval in the first half of FY25, driving a 10% valuation adjustment.And Trading Central has identified a bearish signal in Dexus Convenience Retail REIT (ASX:DXC), indicating that the stock price may fall from the close of $2.69 to the range of $2.43-$2.47, on a pattern formed over 53 days according to the standard principles of technical analysis.

US equities were mixed overnight with the Dow Jones closing 0.1% lower, marking its third straight negative day, while the S&P500 and the Nasdaq closed slightly up 0.1% and 0.2% respectively.  The Dow Jones was lower after Intel declined more than 8% off the back of the company posting operating losses in its semiconductor manufacturing business. And AI company Nvidia was in the red despite trading higher for most of the session on Wednesday, restricting gains for the market. Higher rates also weighed down on the market with data out yesterday showing private payrolls grew more than expected in March. European markets were higher after euro zone inflation fell more than expected. The STOXX 600 closed 0.3% higher with most sectors in positive territory. What to watch today:The Australian market is set to rise 0.33% at the open this morning. In commodities, The price of oil is trading in the green after the latest Energy Information Administration data saw a surprise increase in US inventories. Gold is rallying, surging toward $2,300 an ounce, extending its six-day rally as investors welcomed comments made by Fed Chair Jerome Powell, who indicated that a lower policy interest rate would likely be appropriate “at some point this year”. Gold stocks to watch include Northern Star Resources (ASX:NST), Newmont Corporation (ASX:NEM), Evolution Mining (ASX:EVN) and Bellevue Gold (ASX:BGL). And iron ore is also in the green recovering the week’s earlier losses. Trading Ideas:Bell Potter maintains a Buy rating on Electro Optic Systems (ASX:EOS), an Australian defense manufacturer specializing in advanced weapon and satellite tracking technology. EOS has successfully completed a $35 million fully underwritten placement, with the proceeds intended to fund future growth. Bell Potter has lowered their price target by 5% to $2.20 with upcoming potential catalysts for the stock including the next debt repayment scheduled for April, a first quarter update later this month  and the H1 results in September. At the current share price of $1.58, this price target implies 39.2% share price growth in a year.And Trading Central has a bearish signal on The Star Entertainment Group (ASX:SGR), indicating that the stock price may fall from the close of $0.54 to the range of $0.37 to $0.41 over 31 days, according to the standard principles of technical analysis. 

Wall St closed lower for a second straight session, extending on the negative start to the second quarter as bond yields rose and the latest release of economic data dented investor expectations of an interest rate cut out of the Fed in June. The Dow Jones lost 1%, the S&P500 fell 0.72% and the tech-heavy Nasdaq declined 0.95% on Tuesday. Inflationary pressures are climbing from manufacturing data coming in stronger-than-expected for March and the price of oil has risen to a 5-month high.Key economic data out in the US overnight indicated job openings rose by 8000 in February from January which was hotter than market expectations, while factory orders in the US rose 1.4% in February from a 3.8% decline in January which was also above market expectations. These two pieces of data indicate inflation in the region may remain stickier for longer than expected.In Europe overnight, stocks closed lower across the region as major markets opened for the first time in April after the Easter long weekend. The STOXX600 fell 0.76% weighed down by retail stocks falling 2.1%. Germany’s DAX lost 1.13%, the French CAC fell 0.92% and, in the UK, the FTSE100 ended the day down 0.22%.Across the Asia markets on Tuesday, regions closed mixed as investors assessed the release of key economic data out of South Korea and Australia. Hong Kong’s Hang Seng rose 2.18%, while China’s CSI300 index fell 0.42% and South Korea’s Kospi index added 0.2% following the release of key inflation data out in the region indicating inflation remained steady at 3.1% for March.The local market started the holiday-shortened trading week in the red, with the ASX200 ending the session down 0.11% after touching a record high mid-session as losses among healthcare, industrials, telecom and REIT stocks offset gains among the miners and materials stocks in afternoon trade. The retreat from the midsession record high was on the back of a sluggish session on Wall St on Monday after hotter-than-expected manufacturing data released in the US curbed expectations of a rate cut out of the Fed in the very near future.Healthcare star Mesoblast soared a further 71% on Tuesday adding to the 217% rise over the last month, in the aftermath of the US FDA approving the company’s phase three clinical trial data for BLA submission last week.Uranium producer Paladin Energy jumped 4.74% yesterday after the company announced it has achieved the milestone of first production at its Langer Heinrich mine in Namibia. Production guidance is now expected out of the company before July given production is now underway.What to watch today:Ahead of the midweek trading session here in Australia the SPI futures are expecting the ASX to open the day down 0.38%, tracking turbulence on global markets overnight.On the commodities front this morning, oil is trading 1.33% higher at US$85/barrel, uranium is up 4.12% at US$88.50/pound, gold is up 0.66% at US$2265/ounce and iron ore is trading 0.5% higher at US$102.50/tonne.Trading Ideas:Bell Potter has increased the rating on Paladin Energy (ASX:PDN) from a speculative buy rating to a strong buy rating and have increased the 12-month price target on the uranium miner from $1.60 to $1.65 following the first uranium production drums being filled with uranium concentrate at the company’s restarted Langer Heinrich Mine in-line with its March quarter guidance. According to the analyst, a line-of sight to first revenue and cashflow removes the need for the speculative rating on the uranium producer.And Trading Central has identified a bullish signal on Nexgen Energy (ASX:NXG) following the formation of a pattern over a period of 40-days which is roughly the same amount of time the share price may rise from the close of $12.99 to the range of $14.60-$15.10 according to standard principles of technical analysis.

Wall St closed lower to start the trading week as investors digest the latest US inflation data. The Dow Jones closed 0.6% lower, the S&P 500 fell 0.2% whilst the tech-heavy Nasdaq gained 0.11% by the closing bell. US core PCE data was released on Friday, showing inflation rose 2.8% on a 12-month basis in February, which was in line with expectations.Europe and local markets were closed yesterday for Easter Monday celebrations.What to watch today:The ASX200 is set to open higher this morning, with the SPI futures suggesting a rise of 1.03% at market open this morning.On the commodities front this morning, Oil is trading 0.92% higher at 83 US dollars and 89 cents a barrel as investors await the OPEC+’s meeting later this week. Gold is trading 0.81% higher at 2250 US dollars an ounce and iron ore is trading 1.45% lower at 102 US dollars a tonne.Trading Ideas:Bell Potter has maintained a buy rating on Coronado Global Resources (ASX:CRN), despite decreasing its 12-month price target to $1.65. The buy rating is maintained by Bell Potter as CRN should realise improved production volumes and subsequent cost benefits following the self-funded investment across its Australian and US operations. It is expected that this will generate more consistent free cash flow and shareholders returns going forward.And Trading Central has identified a bullish signal on Pilbara Minerals (ASX:PLS), indicating the stock may rise form the close of $3.83 to the range of $4.55-$4.75 on a pattern formed over 18 days according to the standard principles of technical analysis.

Wall St closed higher overnight as the S&P 500 recorded its best quarter since 2019, ending Wednesday’s trading session up 0.86%. The Dow Jones gained 1.22% and the tech-heavy Nasdaq closed just over half a percent higher.Over in Europe, markets closed slightly higher after a slow start to the session. The STOXX600 closed 0.1% higher with retail stocks closing higher whilst travel stocks fell 2.4%. Germany’s DAX rallied half a percent, the French CAC ended the trading session a quarter of a percent higher and over in the UK the FTSE100 closed flat, up 0.01%.Locally yesterday, the ASX200 ended Wednesday’s trading session half a percent higher with all but two sectors ending in the green. Gains were led by the consumer staples and health sectors which gained 1.35% and 1.28% respectively. In terms of economic news, February CPI data came out yesterday at 3.4%, the same as it previous result and slightly lower than the consensus of 3.5%.What to watch today: The Australian share market is set to open higher, with the SPI futures suggesting a rise of 0.76% at market open this morning.On the commodity front this morning, Oil is trading flat at US$81.60 a barrel, following a 9.337 million barrel increase in US crude stockpiles. Gold is trading 0.74% higher at US$2194 an ounce as investors await on  important inflation data to come out of the US. And iron ore is trading 2.71% lower at US$107.50 a tonne.Trading Ideas: Bell Potter has maintained a buy rating on Platinum Asset Management (ASX:PTM) and has a 12-month price target of $1.20. The buy rating is maintained by Bell Potter as PTM look to reduce their cost base in FY25 to get annual costs below $78m. This reduction in costs increased EBITDA forecasts by 3.9% in FY24, 15.3% in FY25 and 36% in FY26.And Trading Central has identified a bullish signal on Whitehaven Coal (ASX:WHC), indicating that the stock price may rise from the close of $6.74 to the range of $8.50-$8.90, on a pattern formed over 40 days, according to the standard principles of technical analysis.

Wall Street extended its losses into Tuesday’s session as a morning rally quickly faded in afternoon trade with the Dow Jones ending the day down 0.08%, the S&P500 lost 0.28% and the tech-heavy Nasdaq fell 0.42%. Orders for long-lasting goods in the US rose 1.4% in February in data out yesterday which beat economists’ expectations of a 0.8% rise, which investors may have taken as a sign that inflation remains elevated in the US thus adding support for rates to remain on hold for a little while longer, especially after the slight uptick in CPI in the latest reading out of the US.Krispy Kreme shares soared 39% on Tuesday after the donut giant announced it would expand its partnership with McDonald’s, while Tesla rallied 5% in a rebound for the EV maker after a few months of negative sentiment from markets in 2024.In Europe overnight, markets closed slightly higher in the region as investors continue digesting key central bank moves in the region. The STOXX600 rose 0.3%, Germany’s DAX rose 0.67%, the French CAC added 0.41% and, in the UK, the FTSE100 climbed 0.17% on Tuesday.Across the Asia markets, it was mostly a green session across the board on Tuesday with South Korea’s Kospi hitting a 2-year high as investors assessed the latest batch of economic data. Japan’s annual B2B service inflation remained at 2.1% in February indicating companies continue passing on rising costs to customers. Singapore’s manufacturing output increased 14.2% in February from January’s 6.7% decline which boosted the local index to a 1.31% close on Tuesday and Hong Kong’s Hang Seng rose 1.1% yesterday.The local market started the week higher before retreating 0.41% on Tuesday taking lead from Wall Street’s losing session on Monday and on the back of local market sell-offs which were hardest felt by tech stocks on Tuesday as the sector closed the session down 1.55%.Westpac consumer confidence data for March also released yesterday weighed on the market sentiment as the reading for this month came in at -1.8% which is a sharp decline from the 6.2% reported in February and above economists’ expectations of a drop to minus 1.6% which signals consumer sentiment in market conditions is sliding and we are feeling the full bite of the currently elevated rates.Earlier in the week commodity-related stocks weighed on the key index, however, a rebound in the price of oil, iron ore and gold saw investors buy back into the miners yesterday. While the opposite story can be told for rate sensitive stocks like technology and real estate which started the week on a high note after a less-hawkish RBA statement was released last week, before these sectors declined on Tuesday.What to watch today:Ahead of the local trading session here in Australia for Wednesday, the SPI futures are anticipating the ASX to open the day down 0.24% tracking Wall Street’s turbulence overnight.Taking a look at commodity prices, oil has slightly retreated again overnight to trade 0.1% lower at US$81.87/barrel, gold is up 0.3% at US$2177.38/ounce, and iron ore is down 0.9% at US$110.50/tonne.Trading Ideas:Bell Potter has initiated coverage of leading Australian engineering group, Monadelphous Group (ASX:MND) with a buy rating and a price target of $15.40. Bell Potter’s analyst sees strong revenue growth in the company’s FY24 guidance and the EC pipeline revenue is forecast to continue growing in the second half with a step up in construction contracts won in FY24 to date valued at over $750m scheduled to be completed over FY24-FY25.And Trading Central has identified a bullish signal on Northern Star Resources (ASX:NST) following the formation of a pattern over a period of 12-days which is roughly the same amount of time the share price may rise from the close of $13.93 to the range of $15.80 to $16.20 according to standard principles of technical analysis.

Wall St started the week in negative territory as US equities took a breather from record territory with the Dow Jones ending Monday’s session down 0.41%, the S&P500 lost 0.31% and the tech-heavy Nasdaq declined 0.27%. United Airlines fell 3.4% after the Federal Aviation Administration announced it would be increasing its scrutiny of the carrier after a series of safety incidents.Over in Europe, markets closed mixed across the board on Monday as investors continued digesting central bank moves in the region to gauge how the battle against inflation is faring. The STOXX600 rose 0.04% to extend on its record close from Friday driven by oil and gas stocks rising on a rebound in the price of the two key commodities. Germany’s DAX rose 0.3% on Monday while the French CAC closed flat and, in the UK, the FTSE100 ended Monday’s session down 0.17%.Across the Asia markets overnight, it was mostly a sea of red as investors assessed the release of key inflation data for the region. Singapore and Malaysia both released key inflation reports that came in higher than anticipated while Tokyo’s inflation numbers are due to be released on Friday. Japan’s Nikkei fell 1.16% on Monday, Hong Kong’s Hang Seng fell 0.16%, and South Korea’s Kospi slid 0.4% at the closing bell.Locally yesterday, the ASX200 rallied 0.5% to push the key index above 7800 points again, led by a rise in interest rate sensitive sectors like technology and REIT stocks as optimism for interest rate cuts continues to rise. The rise in sentiment follows a statement released on the back of the RBA’s latest meeting indicating Australia’s central bank appears to be less hawkish than first though with regards to interest rate cuts.The rising price of oil prompted investors to buy back into the mining giants like Santos which added 1.1% and Woodside which rose 1.2% on Monday.Reports out of Fortescue that the mining giant is looking to develop its copper assets led to a 3.2% rise in the Andrew Forrest run mining company on Monday.What to watch today:Ahead of Tuesday’s trading session here in Australia, the SPI futures are expecting the ASX to open the session 0.37% lower following the slide on Wall St overnight.On the commodities front this morning oil is trading 1.55% higher at US$81.88/barrel, gold is up 0.32% at US$2171/ounce, and iron ore is trading flat at US$111.50/tonne.AU$1.00 is buying US$0.65, 99 Japanese Yen, 51.69 British Pence and NZ$1.09.Trading Ideas:Bell Potter has initiated coverage of Cleanaway Waste Management (ASX:CWY) with a buy rating and a 12-month price target of $3.10 with Bell Potter’s analyst optimistic on the growth opportunity for CWY through its three-year pathway to $450m+ EBIT under its ‘Blueprint 2030’ strategy. The analyst also expects to see recovery in C&I waste generation and labour productivity potentially presenting as further tailwinds.And Trading Central has identified a bullish signal on Endeavour Group (ASX:EDV) following the formation of a pattern over a period of 20 days which is roughly the same amount of time the share price may rise from the close of $5.34 to the range of $5.82 to $5.92 according to standard principles of technical analysis.

Despite a mixed session on Friday, Wall Street posted gains across the three key indices for last week with the Dow Jones recording its best week since December and the market is on track for a fifth consecutive month of gains. Investors took a slight breather on Friday after a strong week for equities following the Fed’s latest FOMC meeting where interest rates were held steady again. The Dow Jones fell 0.77% on Friday but added almost 2% for the week, the S&P500 fell 0.14% on Friday but gained 2.3% for the week, and the tech-heavy Nasdaq rose 0.16% on Friday and nearly 2.9% for the week.FedEx added more the 7% on Friday after posting adjusted earnings that beat analysts’ expectations, while Nike fell 6.9% on disappointing guidance and easing sales in China.Over in Europe, markets closed mostly higher in the region, even after stocks soared to an all-time-high on Thursday. The STOXX600 rose 0.02% on Friday as tech and travel stock losses weighed on the market gains. Germany’s DAX rose 0.15% on Friday while the French CAC fell 0.34%, and, in the UK, the FTSE100 rose 0.61% at the week’s end. The Swiss National Bank surprised markets on Thursday by lowering its core policy rate by 0.25 percentage points to 1.5% which marks the first major economy to cut interest rates in a sign key global economies are winning the battle of inflation and further cuts could be expected in the near future. The Bank of England held rates as expected on Thursday, however, signalled rate cuts could be on the horizon soon.Locally on Friday, the ASX200 lost 0.2% as a sell-off in commodity-related stocks, particularly energy stocks, weighed on the key index. For the week though, the ASX200 still managed to post a 1.3% gain. Declining prices of oil, iron ore and gold were the drivers of investors selling out of commodity-related stocks on Friday.Fisher & Paykel Healthcare rallied 7.7% on Friday after the company upgraded its earnings guidance range to NZ$260m to NZ$265m mainly due to strength in demand for the company’s hospital product group and OSA masks.What to watch today:Ahead of the local trading session to start the new trading week here in Australia, the SPI futures are anticipating the ASX to open Monday’s session 0.09% higher.On the commodities front this morning, oil is trading 0.54% lower at US$80.63/barrel, uranium is down 6.6% at US$85/pound, gold is down 0.72% at US$2165/ounce and iron ore is up 2.77% at US$111.50/tonne.AU$1.00 is buying 65 US$0.65, 98.60 Japanese Yen, 51.7 British Pence and NZ$1.09.Trading Ideas:Bell Potter has maintained a speculative buy rating on Deep Yellow (ASX:DYL) and have increased the 12-month price target on the uranium miner from $1.81 to $1.90/share following the company’s successful completion Tranche-1 or $140.5m of its $220m institutional placement with the remaining to be completed post a general meeting in April. Deep Yellow also plans to raise a further $30m via a retail share purchase plan, with total funds raised to be directed towards the advancement of the company’s Tumas uranium project in Namibia.And Trading Central has identified a bearish signal on Reece (ASX:REH) following the formation of a pattern over a period of 17-days which is roughly the same amount of time the share price may fall from the close of $27.65 to the range of $25.10 to $25.60 according to standard principles of technical analysis.

The iron ore industry has hit some turbulence. Prices have taken a nosedive this year, partly due to a slowdown in China – a big buyer of iron ore. This has influenced the Australian stock market, with mining giants like BHP and Rio Tinto feeling the heat. The US dollar and interest rates are also adding pressure. Discover what this all means for investors in this week’s Weekly Wrap video. In this week’s wrap, Sophia covers:  • (0:11): why it may be worth keeping watch of iron ore stocks  • (0:35): Australian miners sell-off – BHP, Rio Tinto, and Fortescue • (1:37): China’s economic slowdown and stimulus efforts• (2:25): the impact of interest rates and the US dollar on ore prices • (4:14): the most traded stocks & ETFs by Bell Direct clients • (4:46): economic data to watch next week.

Wall St closed higher overnight as the major averages rise to new record levels. The Dow Jones rallied 0.68%, the S&P500 closed 0.32% higher and the tech-heavy Nasdaq ended the trading session 0.2% in the green.Over in Europe, markets closed higher overnight as European stocks hit record highs following monetary policy decisions from the Bank of England and Swiss National Bank. The STOXX600 ended the trading session up 0.9% with nearly all sectors finishing in the green with technology stocks up 3.2%, whilst utilities fell 0.39%.Locally yesterday, the ASX200 closed 1.12% higher with the majority of sectors finishing in the green. Gains were led by the financial and consumer discretionary sectors which rose 1.74% and 1.5% respectively. This was slightly offset by the utilities sector which fell 0.59% by market close.Australian unemployment data was also released yesterday, down to 3.7% from the previous result of 4.1% and the consensus of 4%.What to watch today: The Australian share market is set to open lower, with the SPI futures suggesting a fall of 0.18% at market open this morning.On the commodity front this morning, Oil is trading 0.67% lower at US$80.72 a barrel as Ukrainian drone strikes on Russian refineries stoke supply concerns. Gold is trading down 0.23% to US$2180 an ounce as investors become confident central banks will ease monetary policies soon. And iron ore is trading flat at US$108.50 a tonne as hopes for a recovery in Chinese demand prevents a further sell off. Trading Ideas: Bell Potter has maintained a speculative buy rating on Clarity Pharmaceuticals (ASX:CU6) with a current price per share of $3.00. The speculative buy rating is maintained by Bell Potter with them giving CU6 a valuation of $3.90 per share, implying a 30% share price growth in a year.And Trading Central has identified a bullish signal on Bega Cheese (ASX:BGA), indicating that the stock price may rise from the close of $4.15 to the range of $4.60-$4.70, on a pattern formed over 17 days according to the standard principles of technical analysis.

Wall Street rallied overnight, with all three major benchmarks notching all-time closing highs, after the Federal Reserve announced that there will be three rate cuts before the end of the year. This comes after the Fed held rates at a 23-year high. In this week’s policy meeting, rates were left unchanged however the announcement saw a market rally, with the Dow Jones rising 400 points or 1.03% to a record close, the S&P500 up 0.89% and the Nasdaq gaining 1.25%. Financial stocks and tech stocks advanced the most. Yesterday, the Australian market closed in the red with tech, utilities, and consumer staples down the most, while energy gained. What to watch today:Today however, our local market is set for a positive start following US equities overnight. The SPI futures are suggesting a 0.63% rise at the open this morning. In commodities, Oil prices have dropped to around US$81.55 per barrel at the time of recording, dropping from over four-month highs touches on Tuesday, a sell-off as investors took profits from the strong run-up in oil prices.  Also, the stronger US dollar added pressure to oil prices, which makes it more expensive for buyers in other currencies, affecting demand. Gold on the other hand is trading in the green, currently around US$2,186 an ounce, following the Fed holding interest rates steady. And iron ore has advanced an impressive 3.8% to US$108.50, recovering earlier losses after hitting it’s lowest level since May 2023. In economic data, the unemployment rate for February will be announced today at 11:30am AEDT, expected to drop from 4.1% to 4%, after January saw the highest unemployment rate in 2 years. Also keep watch of the share price movements of the following companies, that are set to release their earnings reports today. These include Brickworks (ASX:BKW), Sigma Healthcare (ASX:SIG) and Washinton Soul Pattinson (ASX:SOL), while Webjet (ASX:WEB) will hold an investor briefing today. And companies going ex-dividend today include Cochlear (ASX:COH), Pacific Smiles Group (ASX:PSQ), Spark New Zealand (ASX:SPK) and Tourism Holdings (ASX:THL). Remember this often sees share prices fall, as investors take their profits. Trading Ideas:Bell Potter maintains a Buy rating on Smartpay Holdings (ASX:SMP), an independent full-service provider of payment solutions. SMP shares have traded down despite the positive merchant data and growth in digital payments. Bell Potter have increased their price target to $1.76 and at SMP’s current share price of $1.37 this implies 28.7% share price growth in a year. And Trading Central have identified a bullish signal in Fortescue Metals (ASX:FMG) indicating that the stock price may rise from the close of $24.75 to the range of $29.00 to $30.00 over 17 days, according to the standard principles of technical analysis. 

Wall St closed higher overnight as the Dow closed more than 300 points higher by market close. The S&P 500 rose over half a percent, the tech-heavy Nasdaq ended the trading session up 0.39% and the Dow Jones rallied 0.83%.Over in Europe, markets closed higher as investors look to the start of the US Fed’s two-day policy meeting. The STOXX600 closed 0.26% higher with autos stocks rising 1.2%, whilst food and beverage stocks fell half a percent. Germany’s DAX rose 0.31%, the French CAC jumped 0.65% and over in the UK the FTSE100 ended Tuesday’s trading session 0.2% higher.Locally yesterday, the ASX200 ended the day 0.36% higher with gains lead by the materials and energy sectors of 2.11% and 1.98% respectively. This was offset by the consumer staples sector which lost 0.84% by market close yesterday.The RBA interest rate decision also came out yesterday, with it remaining at 4.35%, the same as its previous result.What to watch today: The Australian share market is set to open higher, with the SPI futures suggesting a rise of 0.17% at market open this morning.On the commodity front this morning, Oil is trading 0.46% higher at US$83.10 a barrel as Iraq announced plans to reduce its oil exports to 3.3 million barrels per day in order to comply with the OPEC+ quota. Gold is trading 0.12% lower at US$2157 an ounce, as investors await the US Federal Reserve’s policy decision this week. And iron ore is trading 1.95% higher at US$104.50 a tonne.Trading Ideas: Bell Potter has maintained a buy rating on Nickel Industries (ASX:NIC), despite slightly decreasing the 12-month price target to $1.50. The buy rating is maintained by Bell Potter as NIC is trading on undemanding valuation multiples, offers a supportive dividend, has demonstrated its ability to make money through the nickel price cycle and is one of the worlds only listed nickel producer offering exposure across nickel products and markets.And Trading Central has identified a bullish signal in Tabcorp Holdings (ASX:TAH), indicating that the stock price may rise form the close of $0.80 to the range of $1.08-$1.14 on a pattern formed over 100 days, according to the standard principles of technical analysis.

Wall St closed higher overnight as markets await the US Federal Reserve decision out later in the week. The Dow Jones climbed 0.2%, the S&P 500 closed 0.63% higher and the tech-heavy Nasdaq ended the trading session 0.82% in the green.In terms of US shares, Alphabet gained 4.6% after reports that Apple was in talks with Google to include the company’s Gemini AI in iPhones.Over in Europe, markets closed lower as investors look ahead to the US Federal Reserve meeting. The STOXX 600 closed 0.1% lower with telecoms falling 1.4%, whilst autos rallied 0.9%. Germany’s DAX closed slightly lower, down 0.02%, the French CAC lost 0.2% and over in the UK the FTSE 100 fell 0.06%.Locally yesterday, the ASX200 closed slightly higher, up 0.07% by market close. Gains were lead by the financial and materials sector which gained 0.56% and 0.25% respectively. This was offset by the real estate sector which lost 1.87%.What to watch today: The Australian share market is set to open marginally higher, up 0.04% at market open this morning.In terms of economic data today, the RBA interest rate decision will be released this afternoon with the forecast and consensus coming in at 4.35%, the same as its previous result.On the commodity front this morning, Oil is trading 2.09% higher at US$82.73 a barrel, following lower amount of exports from Iraq and Saudi Arabia as well as increased demand coming from the US and China. Gold is trading 0.18% higher at US$2159 an ounce as investors await policy meetings from major central banks such as the RBA and the Bank of England. And iron ore is trading 2.84% lower at US$102.50 cents a tonne as lower demand in China continuesTrading Ideas: Bell Potter maintains a buy rating on Chrysos Corporation (ASX:C79) and has a 12-month price target of $8.30. The buy rating is maintained by Bell Potter as it is believed their disruptive PhotonAssay technology will command a significant foothold within the large gold assaying markets with current lease agreements with some of the largest gold miners and international laboratory businesses providing good near-term deployment visibility.And Trading Central has identified a bullish signal on Nick Scali (ASX:NCK), indicating that the stock price may rise from the close of $14.50 to the range of $18.20-$18.90, on a pattern formed over 30 days, according to the standard principles of technical analysis.

Well, all three major US benchmarks closed lower last week, the second straight week of losses. This was off the back of inflation concerns which saw technology stocks come under pressure, ahead of the Fed’s next two-day policy meeting starting on Tuesday. The Dow Jones closed 0.5% lower, the S&P500 down 0.6% and the Nasdaq down 0.96%.European markets were also in the red, with investors treading carefully ahead of rate decisions this week by both the Federal Reserve and the Bank of England. And last week the Australian share market declined 2.25% Monday to Friday, with all sectors in the red, apart from Utilities and Real Estate. The materials and financials industry sectors declined the most. What to watch today:Our local market is set to start the week lower this morning, with the SPI futures suggesting a 0.17% fall at the open. In commodities, Oil has softened, trading at US$81 per barrel, so keep watch of energy stock today, such as Woodside Energy (ASX:WDS) or Santos (ASX:STO). The price of oil still saw a weekly gain of more than 3.5%, amid strong US demand as well as an optimistic outlook for global oil consumption. Gold is trading lower, recording its first weekly decline in a month, ahead of the Fed’s policy decision this week. Iron ore has also declined, trading at US$105.50 per ton, the lowest in nearly seven months following dampened demand in China. And copper prices are influencing the Australian dollar greater than iron ore currently, advancing last week to its highest level in 11 months, after the top Chinese smelting facilities announced they’d reduce production at unprofitable facilities due to raw material shortages. And two companies go ex-dividend today, that is, HUB 24 (ASX:HUB) and Chorus (ASX:CNU). Trading Ideas:Bell Potter maintains a Buy rating on global financial services firm Perpetual (ASX:PPT). They have lowered their price target from $27.33 to $27.15 and at PPT’s current share price of $24.39, this implies 11.3% share price growth in a year. And Bell Potter also have a Buy rating on Technology One (ASX:TNE), ahead of the company’s H1 FY24 results with a focus on the Net Revenue Retention. Bell Potter have increased their price target from $17.25 to $18.50, and at TNE’s current share price $16.30, this implies 13.5% share price growth in a year. 

The spotlight shone brightly on the US economy as investors eagerly awaited the release of key economic data this week. The data would shed light on the nation's battle with inflation, a crucial factor influencing both the health of the world's largest economy and the potential actions of the Federal Reserve regarding interest rates in the coming months.In this week’s wrap, Grady covers:  (0:09): why investors were fixated on the US this week(0:53): conflicting signals between US retail sales and PPI data(2:18): investor optimism despite slight rise in US inflation(2:34): the mining giant sell-off locally as iron ore slumped(3:08): a glimpse of recovery amidst challenges for Myer(5:06): the most traded stocks & ETFs by Bell Direct clients(5:35): economic data to watch next week. 

Wall St closed lower overnight following the release of inflation data that came out higher than expectations. The Dow Jones fell 0.35%, the S&P500 lost 0.29% and the tech-heavy Nasdaq ended the day 0.3% in the red.US producer price index for February came out overnight, showing a 0.6% rise month on month, double the consensus and forecast of 0.3%.Over in Europe, markets closed lower following further inflation readings coming out of the US. The STOXX600 closed down 0.2% with media stocks ending the session 0.7% higher and mining stocks falling 1.4%. Germany’s DAX fell 0.11%, the FTSE100 fell 0.37% with the French CAC gaining 0.29%.Locally yesterday, the ASX200 fell 0.20% by market close yesterday. Losses were lead by the financial and consumer discretionary sectors which lost 1.88% and 0.73% respectively. This was offset by the materials sector which rallied 1.85% by the end of the trading session.What to watch today: The Australian share market is set to open lower, with the SPI futures suggesting a fall of 0.73% at market open this morning.On the commodity front this morning, Oil is trading 1.72% higher to US$81.09 cents a barrel as the IEA increased its 2024 demand-growth estimation for crude oil to 1.3 million barrels from 1.2 million. Gold is trading lower just over half a percent at US$2162 an ounce as the US inflation reading overnight made investors question the Fed’s interest rate cuts. And iron ore is trading 3.15% lower at US$107.50 cents a tonne.Trading Ideas: Bell Potter has initiated coverage on McMillan Shakespeare (ASX:MMS) and has a buy recommendation with a 12-month price target of $22.52. McMillan Shakespeare is a leading provider of employee benefits within remuneration packages and operated commercial fleets and disability support services. It has been initiated as a buy rating as MMS provides a unique exposure to a growing demand profile for renewable fuels and vehicle electrification on the ASX. Australia will need to achieve more than 50% of new EV sales by 2030 to meet current climate targets.And Trading Central has identified a bearish signal in Tourism Holdings (ASX:THL), indicating that the stock price may fall form the close of $3.10 to the range of $2.25-$2.40 on a pattern formed over 183 days, according to the standard principles of technical analysis.

US markets closed mixed overnight, with the Dow Jones closing slightly higher, just 0.1% in the green, while the S&P500 closed 0.2% lower and the Nasdaq down 0.5%, as the information technology sector slipped 1.1% with Nividia, Meta and Apple shares all lower. The US consumer price index, a broad measure of goods and services costs, increased 0.4% for the month and 3.2% from a year ago. The monthly measure was in line with expectations while the 12-month reading was slightly higher.European markets ended higher, following what was a mixed trading session, as investors considered the latest U.S. inflation data as well as U.K. gross domestic product. GDP increased 0.2% in line with forecasts.What to watch today:The Australian share market is set to open higher this morning, with the SPI futures suggesting a rise of 0.28%. In commodities, The price of oil is up 2.7% to US$79 per barrel after US data saw an unexpected decrease in crude stocks. Gold has advanced 0.8% after losing for than 1% in the previous session, amid US inflation data being released. And iron ore is also in the green, trading at US$111 per tonne, so keep watch of iron ore miners.And some companies set to go ex- dividend today include Breville Group Ltd (ASX: BRG), auto retailer Eagers Automotive (ASX: APE), poultry producer Inghams Group Ltd (ASX: ING), and telco TPG Telecom Ltd (ASX: TPG). Trading Ideas:Bell potter maintains a Speculative Buy rating on Liontown Resources (ASX:LTR) after the mining company accounted that it has executed a $550 million senior secured syndicated debt facility, funding its Kathleen Valley lithium project to first production. The Kathleen Valley project remains highly strategic in its stage of development, long mine life and location. And Bell Potter recognise the higher level of risk with their Speculative risk rating as it's an asset development company. They have lifted their valuation from $1.60 to $1.90 per share, and at LTR's current share price of $1.39, this implies 36% share price growth in a year. And Trading Central have identified a bullish signal in Resimac Group (ASX:RMC), indicating that the stock price may rise from the close of $0.98 to the range of $1.24 - $1.30 over 26 days, according to the standard principles of technical analysis.

Wall St closed higher overnight as stocks resumed the recent rally after key inflation data came in-line with expectations. The Dow Jones climbed 0.61%, the S&P500 traded 1.12% higher and the tech-heavy Nasdaq rose 1.54%. Investors took confidence in the slight rise in inflation through the latest CPI data, indicating core inflation rose 0.4% in February from January and 3.8% year-on-year, while the inflation rate in the US rose just 0.1% to 3.2% in February.Over in Europe, markets closed higher in the region as investors responded to the latest US inflation data report. The STOXX600 rose 1% driven by automotive stocks while Germany’s DAX rose 1.23%, the French CAC added 0.84% and, over in the UK, the FTSE100 gained 1.02% on Tuesday.British unemployment rate data came out yesterday indicated a rise to 3.9% for January from 3.8% in December and slowing wage growth which provide further supportive evidence for interest rate cuts to come.Locally yesterday, the ASX ended Tuesday’s rollercoaster session 0.1% higher after a morning rally was overturned in midday trade by a US-inflation data fear driven sell off, before settling the day up 0.1%. Gains were led by the information technology and utilities sectors which rose 1.15% and 0.88% respectively. This was offset by the energy sector which lost 0.77%.What to watch today: The Australian share market is set to open higher, with the SPI futures suggesting a rise of 0.18% at market open this morning.On the commodities front this morning, Oil is trading 0.16% higher at US$78.05 cents a barrel following OPEC’s optimistic outlook on global oil demand growth in 2024 and 2025.Gold is trading 1.1% lower at US$2158 an ounce, following US inflation data coming back slightly above expectations.And iron ore is trading down 5.96% to US$110.50 a tonne following subdued demand in China causing a cautious approach among steelmakers who are hesitant on restocking supply.Trading Ideas: Bell Potter has maintained a buy rating on Telstra Group (ASX:TLS) and has an unchanged 12-month price target of $4.25. The buy rating is maintained by Bell Potter as the FY24 results are seen as a potential catalyst to meet the guidance with the highlights being continued strong growth in the core mobile and infrastructure businesses and signs of some turnaround in Enterprise. And Trading Central has identified a bullish signal in GUD Holdings (ASX:GUD), indicating that the stock price may rise from the close of $11.42 to the close of $13.40-$13.90, on a pattern formed over 25 days according to the standard principles of technical analysis.

Wall St fell overnight as investors await important US inflation data out on Tuesday. The S&P 500 finished the day 0.11% lower, as did the tech-heavy Nasdaq which closed 0.41% in the red. Whilst the Dow Jones added 0.12% by the closing bell. These losses come as CPI data for last month will be released in the US on Tuesday with economists predicting CPI will rise 0.4% between January and February and 3.1% on an annual basis.Over in Europe, markets closed lower overnight to start the new trading week. The STOXX600 closed 0.4% lower with technology stocks losing 2.1% while food and beverage stocks added 0.3%. Germany’s DAX fell 0.38%, the French CAC lost 0.1% and over in the UK the FTSE100 gained 0.12%.Locally yesterday, the ASX200 closed the trading session down 1.82% with all sectors ending in the red. Losses were led by the materials and financial sectors which fell 2.56% and 2.17% respectively.What to watch today: The Australian share market is set to open slightly higher, with the SPI futures suggesting a rise of 0.06% at market open this morning.Australian inflation data will be released this morning with core inflation month on month forecasted at 0.3%, slowing from the 0.4% in the previous month.On the commodities front this morning, Oil is trading up 0.04% at US$78.04 a barrel ahead of important US inflation data and monthly OPEC reports to be released this week. Gold is trading 0.24% higher at US$2182 an ounce and iron ore is trading 0.84% lower at US$117.50 a tonne.What to watch today: Bell Potter maintains a buy rating on Paragon Care (ASX:PGC) and has increased its price target to $0.31. The buy rating is maintained by Bell Potter as Paragon Care have entered into a share sale agreement with the privately owned CH2, whereby PGC will acquire all CH2 shares, with the merger transaction highly likely to proceed. The valuation is based on the full year proforma earnings for the merged group using a capitalised earnings model of 8x post-merger EBITDA, inclusive of $8m in revenue and cost synergies.And Trading Central has identified a bullish signal on Perseus Mining (ASX:PRU), indicating the stock price may rise from the close of $14.77 to the range of $17-$17.50 on a pattern formed over 126 days, according to the standard principles of technical analysis.

Wall St fell on Friday as the Dow Jones closed out its worst week since October losing 0.18% by the closing bell. The S&P 500 lost 0.65% and the tech-heavy Nasdaq fell 1.16%. US unemployment data was also released on Friday coming in at 3.9%, 0.2% higher than the forecast and consensus of 3.7%.In terms of US stocks, despite rising 6% over the week, Nvidia lost 5% in its worst session since last May.Over in Europe, markets closed mix following the European Central Bank’s inflation forecast and US jobs data release. The STOXX 600 closed 0.03% higher, led by the financial sector which gained 1%, whilst the technology sector lost 1.5%. Germany’s DAX closed 0.16% lower, as did the FTSE 100 which fell 0.43%, whilst the French CAC gained 0.15%.Locally on Friday, the ASX200 gained over 1% with all but the industrial sector finishing in the green. Gains were led by the financial and health sectors up 2.03% and 1.25% respectively. What to watch today: The Australian share market is set to open lower, with the SPI futures suggesting a fall of 0.6% at market open this morning.On the commodity front this morning, Oil is down 1.17% to US$78.01 a barrel as the market remains cautious on Chinese demand, despite the OPEC+ group extending supply cuts. Gold is up 0.9% to US$2178 and ounce and iron ore is trading 0.85% higher at US$118.50 a barrel.Trading Ideas: Bell Potter has maintained a buy rating on Develop Global (ASX:DVP), despite decreasing its price target to $4.10. The buy rating is maintained by Bell Potter as the forthcoming restart of Woodlawn operations coincides with growing revenue generation from the company’s underground mining services business, underpinning a ramp up in earnings in FY24-FY26.And Trading Central has identified a bullish signal in Infomedia (ASX:IFM), indicating that the stock price may rise from the close of $1.65 to the range of $1.90-$1.96, on a pattern formed over 11 days, according to the standard principles of technical analysis.

The stock market isn’t always smooth sailing, reacting not just to company performance but also to the ever-shifting tides of global events. Geopolitical tensions from ongoing wars to escalating cyber threats, can create uncertainty and market volatility. However, for investors, this doesn’t necessarily translate to negative outcomes. By understanding the risks and focusing on long-term strategies, investors can navigate these choppy waters and position themselves for continued growth.In this week’s wrap, Sophia covers:  (0:28): the importance of long-term wealth building strategies(1:07): major geopolitical risks(1:22): cybersecurity in the investment landscape(1:55): impacts of US-China tensions on markets(2:29): why the energy sector is one to watch(4:00): the most traded stocks & ETFs by Bell Direct clients(4:34): economic data to watch next week.

Wall St closed higher overnight as the S&P 500 and the Nasdaq hit new records. The Dow Jones rose 0.35%, the S&P 500 jumped just over 1% and the tech-heavy Nasdaq rallied over 1.5%. Over in Europe, markets closed higher overnight as the European Central Bank’s held its interest rates steady at a record 4% and revised inflation in 2024 to 2.3% from 2.7%. Germany’s DAX finished 0.71% higher, the French CAC gained 0.77% and over in the UK the FTSE100 ended the trading session 0.17% in the green.Locally yesterday, the ASX200 closed 0.39% higher as the vast majority of sectors finished in the green. Gains were led by the industrial and information technology sectors which rallied by 1.33% and 1.03% respectively. This was slightly offset by the energy sector which lost 1.15% 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 0.63% at market open this morning.On the commodities front this morning, Oil is down 0.2% to US$78.97 a barrel as the latest EIA report showed a smaller-than-expected increase in US crude inventories. Gold is up 0.47% to US$2158 an ounce as investors await key US jobs data on Friday. And iron ore is trading 1.29% higher at US$117.50 a tonne.Trading ideas:Bell Potter has maintained a speculative buy rating on WA1 Resources (ASX:WA1) with a valuation of $17.65. WA1 is advancing the West Arunta Niobium project which includes the Luni prospect in North-Western Australia. Luni has the potential to be a globally significant Tier-1 asset characterised by its high-grade and scale.And Trading Central has identified a bullish signal on Abacus Group (ASX:ABG), indicating that the stock price may rise from the close of $1.16 to the range of $1.25-$1.27 on a pattern formed over 37 days, according to the standard principles of technical analysis.

It was a positive session on Wall Street overnight, with the market turning a corner after a few consecutive losing sessions.  with the Dow Jones up 0.2%, the S&P500 up 0.5% and the Nasdaq up 0.6%. European markets also advanced with all major benchmarks closing in the green. What to watch today:The Australian share market is set to open higher this morning, with the SPI futures suggesting a 0.48% rise at the open. In commodities, The price of oil is up 1.3%, just over US$79 per barrel, nearing a four-month high after the Energy Information Administration showed a smaller than expected increase in US weekly crude stocks. Gold is steady, hovering at its record high of US$2,146 an ounce. And iron ore is flat at US$116 per ton, the lowest since late October. BHP’s share price may trade lower today as the mining giant’s shares are set to trade ex-dividend this morning. Other stocks going ex-dividend today include Rio Tinto (ASX:RIO), South 32 (ASX:S32), Woodside Energy (ASX:WDS) and Viva energy Group (ASX:VEA), just to name a few. Trading Ideas:Bell Potter maintains a speculative buy rating on Clarity Pharmaceuticals (ASX:CU6) and has increased its valuation to $3.90. The buy rating is maintained as CU6 have a clinical advantage over currently marketed PSMA targeted imaging agents. The stock’s current share price if $2.85, which implies 36.8% share price growth in a year.And Trading Central has identified a bullish signal on Metcash (ASX:MTS), indicating that the stock price may rise from the close of $3.76 to the range of $3.99-$4.05, on a pattern formed over 16 days, according to the standard principles of technical analysis.

Wall St fell overnight as Apple shares declined, pulling technology stocks down. The Dow Jones and the S&P 500 lost just over 1% each with the tech-heavy Nasdaq ending the session 1.65% in the red. Apple lost 3% following the release of a report from Counterpoint Research that showed iPhone sales in China plunged in the first six weeks of 2024. Other tech stocks such as Netflix and Microsoft also fell by more than 2% each with Tesla following suit, losing 3%.Over in Europe, markets closed lower as they struggle to find positive momentum with investors awaiting the ECB meeting later in the week. The STOXX600 ended the day down 0.27% with the majority of sectors closing lower with mining stocks falling 0.9% whilst the utilities sector added 1.8%. Germany’s DAX closed 0.1% lower, the French CAC fell 0.3% and over in the UK the FTSE100 closed 0.08% in the green.Locally yesterday, the ASX200 fell 0.15% with the consumer discretionary and consumer staples sector leading losses down 1.21% and 1.05% respectively. This was offset by the health sector which gained 1% by the closing bell.What to watch today: The Australian share market is set to open lower, with the SPI futures suggesting a fall 0.26% at market open this morning.In terms of economic news, Australian GDP growth data will be released this morning with a forecast of 0.2% growth quarter on quarter, the same as its previous result.On the commodities front this morning, Oil is trading 0.65% lower at US$78.23 a barrel as uncertainties surrounding interest rates changes in major economies, add to market uncertainty. Gold is trading 0.7% higher at US$2129 an ounce and iron ore is trading 1.28% lower at US$116 a tonne. Trading Ideas: Bell Potter maintains a buy rating on GrainCorp (ASX:GNC) and has an unchanged 12-month price target of $9.30. The buy rating is maintained by Bell Potter as they continue to view the GrainCorp share price as not reflecting the underlying improvement in through the cycle earnings and GrainCorp has a stronger balance sheet position of $350m in net corporate cash.And Trading Central has identified a bearish signal in Australian United Investment (ASX:AUI), indicating that the stock may fall from the close of $9.91 to the range of $9.48-$9.56 on a pattern formed over 8 days according to the standard principles of technical analysis.

Wall St closed lower overnight, despite a rally in AI stocks as part of the artificial intelligence boom. The S&P500 lost 0.12%, the Dow Jones fell 0.25% and the tech-heavy Nasdaq ended the trading session 0.41% lower. These losses were pulled back by AI company Nvidia, which soared 18% as the S&P Dow Jones indices revealed it would join the S&P 500 later this month.Over in Europe, markets closed slightly lower as investors await the European Central Bank meeting. The STOXX600 closed 0.07% lower with most stocks closing in the red including mining stocks which fell 1.24% with tech stocks gaining 0.8%. Germany’s DAX closed 0.11% lower, the French CAC gained 0.28% and over in the UK the FTSE100 closed just over half a percent down.Locally yesterday, markets closed 0.13% lower as the majority of sectors finished in the red. Losses were led by the health and utilities sector which lost 0.78% and 0.77% respectively. This was slightly offset by the real estate sector which gained 1.34%.What to watch today: The Australian share market is set to open slightly higher, with the SPI futures suggesting a rise of 0.05% at the open this morning.On the commodity front this morning, Oil is trading down 1.54% at US$78.13 a barrel after OPEC and its allies agreed to extend voluntary production cuts until the end of June. Gold is trading 1.62% higher to US$2117 an ounce and iron ore is trading flat at US$117.50 cents a tonne.Trading Ideas: Bell Potter maintains a buy rating on DroneShield (ASX:DRO) with a 12-month price target of $0.90. The buy rating is maintained by Bell Potter as DroneShield is now a profitable growth company after its first profitable year with an NPAT of $9.3m. The company is also exposed to relevant investment trends, including rising defence expenditure globally, the increasing risk of drones and the role of AI/ML technology.And Trading Central has identified a bullish signal in Piedmont Lithium (ASX:PLL), indicating that the stock price may rise from the close of $0.24 to the range of $0.28-$0.30, on a pattern formed over 21 days, according to the standard principles of technical analysis.

Well, it was a positive session on Wall Street, with all three major benchmarks closing in the green on Friday. The tech-heavy Nasdaq surged more than 1%, to an all-time high, surpassing its 2021 record as investors look to tech stocks amid the AI boom. Meanwhile the Dow Jones gained 0.23% and the S&P500 gained 0.8%. Locally, the ASX200 ended the week with a 1.3% gain, with the tech sector leading the market, up 8% Monday to Friday. What to watch today:The Australian share market is set to rise 0.14% at the open this morning. In commodities, The oil price is up more than 2%, at US$79 per barrel, the highest in four months, driven by expectations that OPEC+ will extend supply cuts. Investors seem optimistic for the upcoming OPEC meeting in March. The gold price hit a two-month high as the US dollar weakens, as well as lower Treasury yields and hopes of rate cuts. While iron ore declined 0.8% to US$117.50 per tonne, the lowest since October, amid the downturn in China’s property market.  And there are around a dozen companies going ex-dividend today, including Propel Funeral Partners (ASX:PFP), REA Group (ASX:REA), Steadfast Group (ASX:SDF) and Netwealth Group (ASX:NWL). This often sees share prices fall, as investors take their profits. Trading Ideas:Bell Potter maintains a buy rating on Neuren Pharmaceuticals (ASX:NEU). The company develop drugs targeting disorders of the Central Nervous System. Bell Potters 12-month price target remains unchanged at $27, following the company’s Q4 update. NEU’s current share price if $19.36, so this implies 39.5% share price growth in the year. And Trading Central has identified a bullish signal in Deterra Royalties (ASX:DRR), indicating that the stock price may rise from the close of $5.06, to the range of $5.65 to $5.80 over 33 days, according to the standard principles of technical analysis. 

As we approach the close of the February 2024 reporting season, 346 companies have shared their results, offering a mixed bag of beats, meets, and misses. While investor sentiment has been volatile, with share prices reacting dramatically to both positive and negative news, brokers have been more cautious, issuing slightly more downgrades than upgrades. So, what were the key themes that emerged during the first half that will shape the second half of the year? In this week’s wrap, Grady covers:(0:53): why Harvey Norman is rallying despite slowdown(1:56): which retailers are winning as consumer spending eases(2:18): mixed results for Ramsay Healthcare & ResMed(3:50): how commodity prices are keeping miners on edge(4:33): key themes that will continue into second half of FY24(6:28): the most traded stocks & ETFs by Bell Direct clients(7:02): economic data to watch next week. 

Wall St closed higher overnight as investors shrugged off unfavourable key inflation data to post gains across the key indices which remain in line for a winning month. The inflation data reading came in the form of US core PCE prices which excludes food and energy increasing by 0.4% from the previous month, while rising at an annual rate of 2.8%, indicating inflation in the world’s largest economy remains sticky. GDP growth data was also released on Wednesday, indicating the US economy grew by 3.2% in Q4 which was slightly less than economists were expecting and well below the 4.9% growth recorded in Q3. The Dow Jones ended Thursday’s trading session 0.15% higher, the S&P 500 gained just over half a percent and the tech-heavy Nasdaq rallied 0.84%.Over in Europe, markets closed slightly higher as investors reacted to key inflation reports. The STOXX600 closed 0.1% higher with construction stocks leading gains, up 1.2% whilst healthcare and food and beverage stocks both fell 0.7%. Germany’s DAX closed 0.44% higher, the French CAC closed down 0.34% and over in the UK, the FTSE100 ended the trading session 0.07% in the green.Locally yesterday, the ASX200 closed half a percent higher with all but the utilities sector ending the trading session higher. Real estate and the consumer discretionary sectors lead gains up 1.73% and 1.29% respectively whilst the utilities sector fell 0.33%.What to watch today: The Australian share market is set to open slightly higher, with the SPI futures suggesting a rise of 0.04% at market open this morning.On the commodities front this morning,Oil is trading 0.4% lower at US$78.22 cents a barrel as investors await the OPEC+ meeting in March where discussions will be held on the ongoing output cuts. Gold is trading 0.47% higher at US$2044 an ounce and iron ore is trading 0.84% lower at US$118.50 a tonne following a decline in home sales in China, consequently lowering margins for steel furnaces, meaning input buying declined. Trading Ideas: Bell Potter maintains a buy rating on Electro Optic Systems (ASX:EOS) and has increased its price target from $1.60 to $2.30. The buy rating is maintained following strong CY23 results which saw a return to positive EBITDA earlier than was forecasted. The company is currently experiencing substantial price growth and with a reduced cost base, Bell Potter has upgraded their EBITDA margin forecasts to 6%, 10.5% and 12% in CY24, CY25 and CY26, respectively.And Trading Central has identified a bullish signal on Perseus Mining (ASX:PRU), indicating that the stock price may rise from the close of $1.75 to the range of $1.93-$1.97, on a pattern formed over 8 days, according to the standard principles of technical analysis.

Wall St has closed lower for the third straight day as investors await Important inflation data coming out later in the week. The Dow Jones lost 0.06%, the S&P500 dropped 0.17% and the tech-heavy Nasdaq ended the trading session 0.55% lower.Over in Europe, markets closed lower as cautious investment sentiment continued on from earlier in the week. The STOXX600 closed 0.3% lower with the majority of sectors ending the trading session in the red. Losses were led by technology stocks which lost 1.4%, whilst auto stocks rose by almost 1%. Germany’s DAX gained 0.25%, the French CAC gained 0.08% and over in the UK the FTSE100 closed 0.76% lower.Locally yesterday, the ASX200 closed 0.03% lower with the consumer staples sector leading losses, down 0.81%. This was offset by the information technology sector which rallied 2.88% by the closing bell. Also yesterday, CPI data for January was released with it staying steady at 3.4%, the same as the previous month, 0.2% lower than the consensus and forecast of 3.6%.What to watch today: The Australian share market is set to open lower, with the SPI futures suggesting a fall of 0.25% at the open this morning.On the commodity front this morning,Oil is trading over half a percent lower at US$78.44 cents a barrel, with the latest EIA report showing a higher-then-expected 4.199 million barrel rise in US crude oil inventories last week. Gold is trading 0.20% higher at US$2033 an ounce and iron ore is trading flat at US$119.50 cents a tonne. Trading Ideas: Bell Potter maintains a buy rating of Cyclopharm (ASX:CYC) and has kept its 12-month price target steady at $3.80. The buy rating is maintained following strong earnings results in which commercial revenue increased by 14%. As well, short term catalysts include the announcement of first patient images from the US and subsequent contract signings of which are at various stages of approval.And Trading Central has identified a bullish signal on Abacus Group (ASX:ABG), indicating that the stock price may rise from the close of $1.14 to the range of $1.16-$1.18, on a pattern formed over 19 days, according to the standard principles of technical analysis.

Wall Street reversed morning losses to close mostly higher on Tuesday as investors prepare for the release of key inflation data later this week. The Dow Jones fell 0.25% while the S&P500 added 0.17% and the tech-heavy Nasdaq gained 0.37% on Tuesday. Retail giant Macy’s is up more than 3% during the session after announcing it would close around 150 of its struggling bricks and mortar retail stores following a revenue miss in the prior quarter.In Europe overnight, markets closed mixed in the region as investors await key inflation data out later this week to determine how key global economies are faring in the high interest rate environment. The STOXX600 reversed Tuesday’s losses to close 0.2% higher, buoyed by mining stocks rising 1.7%. Germany’s DAX ended the day up 0.76%, the French CAC rose 0.23%, and, in the UK, the FTSE100 closed the session virtually flat.Across the Asia markets, trading was mixed on Tuesday with Hong Kong’s Hang Seng rising just shy of 1% while Korea’s KOSPI index fell 0.83% and Japan’s Nikkei closed flat. China’s CSI 300 index rose 1.2% as shares of Chinese electric vehicle maker Li Auto soared over 22% after the company reported a 2068% increase in net income in Q4 compared to a year ago.The local market recovered from a morning sell-off to close Tuesday’s session 0.13% higher as a 2.15% surge in consumer staples stocks more than offset losses among real estate and utilities companies. The materials sector was also weighed down yesterday as the big iron ore miners were sold off on the declining price of iron ore.As the theme goes lately on the local market, reporting season results dominated share market moves yesterday.Supermarket giant Coles rallied yesterday after releasing a strong first half result including a 3.7% jump in sales revenue to $22.2bn, and the outlook for momentum to continue into the second half with sales up 4.9% during the first 8-weeks of the second half already.A stronger-than-expected first half result also prompted investors to send shares in Aussie plumbing parts and services company, Reece, rocketing over 18% yesterday. The company revealed a 2.5% rise in sales revenue, a 6% increase in NPAT and declared an interim dividend of 8cps.Payment service providers like Zip Co and Tyro Payments both posted beats across their respective first half results, however, investors took the opportunity to collect some profits in the days after the results were released as both companies faced turbulence over the last few years during the rising interest rate and uncertain economic environment.What to watch today: Ahead of the local trading session here in Australia, the SPI futures are expecting the ASX to open the midweek session up 0.28% tracking global gains overnight.On the commodities front this morning, oil has rebounded to trade 0.56% higher at US$78.02/barrel, gold is up just 0.06% at US$2032/ounce and iron ore is down 3.24% at US$119.50/tonne.Trading Ideas: Bell Potter has maintained a buy rating on Cooper Energy (ASX:COE) and has slightly increased the 12-month price target from 16cps to 18cps on the release of the energy exploration and development company’s first half result including EBITDAX and NPAT topping BPe, while statutory NPAT came in at a loss of $91m. Bell Potter’s analyst sees there are promising signs at the company’s Orbost Gas processing plant with production continuing to increase at a time of short-term positive catalysts including higher realised gas prices.And Trading Central has identified a bullish signal on GUD Holdings (ASX:GUD) following the formation of a pattern over a period of 8-days which is roughly the same amount of time the share price may rise from the close of $11.14 to the range of $12.30-$12.60 according to standard principles of technical analysis.

The ASX started the week up 0.1% at the closing bell on Monday as investor sentiment was boosted by some strong corporate earnings results and the local index took lead from Wall Street’s record close on Friday. The energy sector weighed on yesterday’s gains following a decline in the price of oil overnight.The consumer discretionary sector on the other hand was the top performer yesterday as Wesfarmers rose 1.5% while fashion jewellery leader Lovisa rallied a further 4.5% after releasing strong first half results late last week. Kogan.com also surged 23.7% after reinstating its dividend and returning to profitability in the first half of FY24 against challenging headwinds of slowing consumer spend.Reporting season continued yesterday in the final weeks of earnings results being released locally. 251 companies have reported so far with 91 beating expectations, 93 meeting expectations and 67 missing expectations.TPG Telecom shares tanked over 10% after the IT internet and communications company reported annual net profit shrunk to $49m from $513m a year earlier amid rising costs.Endeavour Group was in a similar boat yesterday as investors also hit the sell button after the alcohol and hotels retailer reported its net profit fell 3.6% over the first half due to higher financing costs.Over in the US today overnight, stocks reversed morning gains to close lower following record setting closes for the Dow and S&P500 on Friday and as investors await the release of key inflation data out in the region later this week. The Dow Jones fell 0.16% the S&P500 dropped 0.38% and the tech-heavy Nasdaq posted 0.13% decline on Monday. On the back of Nvidia’s blockbuster results out last week, investors are assessing whether the AI momentum can last, given economic and inflation risks continue to linger, and later this week when personal consumption expenditures data is released, we will gauge the impact on the AI thematic.In Europe overnight, markets started the week in mostly negative territory as investors look ahead to key global inflation data out later this week to determine the rate outlook for key economies. The STOXX600 fell 0.4% following a record close last week, weighed down by the mining and utilities sectors. Germany’s DAX rose 0.02% on Monday, the French CAC fell 0.46% and, in the UK, the FTSE100 lost 0.3%.Across the Asia markets, Japan’s Nikkei 225 extended its rally to a new all-time high on Monday while China markets snapped a 9-day winning streak to close 1.04% lower as investors await the release of key economic data in the region including China’s manufacturing purchasing managers’ index to gauge how economic recovery in the region is faring.What to watch today:Ahead of the local trading session here in Australia the SPI futures are expecting the ASX to open Tuesday’s session down 0.03% tracking global markets overnight.On the commodities front this morning, oil has rebounded from Monday’s lows to trade 1.49% higher at US$77.63/barrel, gold is down 0.2% at US$2031.73/ounce and iron ore is up 0.82% at US$123.50/tonne.AU$1.00 is buying US$0.65, 98.49 Japanese Yen, 51.70 British Pence and NZ$1.06.Trading Ideas:Bell Potter has maintained a buy rating on NextEd Group (ASX:NXD) but has decreased the 12-month price target on the education services provider following a softer-than-expected first half result including revenue up 36% however NPAT fell and the company withdrew its second half guidance due to significant macro uncertainties across the industry.And Trading Central has identified a bullish signal on Capitol Health (ASX:CAJ) following the formation of a pattern over a period of 153-days which is roughly the same amount of time the share price may rise from the close of $0.27 to the range of $0.33 to $0.35 according to standard principles of technical analysis.

Wall Street ended Friday’s session with a record close across the Dow Jones and S&P500 however the tech-heavy Nasdaq fell 0.28%. For the week, the Dow Jones added 1.3%, the S&P500 rallied 1.66% and the Nasdaq rose 1.4%.On the corporate earnings front, Afterpay parent company Block surged 16% after releasing fourth-quarter results that topped Wall Street estimates. Used car retailer Carvana also soared 32% after announcing it expects retail units to grow for the remainder of 2024.While the tech juggernaut rally continues on the back of Nvidia’s stellar results released on Thursday, some brokers and industry experts believe there is still room for growth for the big tech stocks over the months ahead.Over in Europe, markets in the region closed higher on Friday as corporate earnings boosted investor sentiment against the release of some unfavourable economic data. The STOXX600 rose 0.4% on Friday, Germany’s DAX added 0.28%, the French CAC climbed 0.7%, and, in the UK, the FTSE100 rallied 0.28%. Germany’s economy contracted 0.3% in the fourth quarter indicating the deepening of Germany’s economic woes as the country still battles with high inflation. In the UK, consumer confidence dipped in February as high inflation weighs on consumer optimism of an economic rebound in the near future.Across the Asia markets on Friday, it was a mostly green finish with China stocks rising for a 9th straight session. Fresh property price data in China showed declines in property prices in the region are easing which boosted sentiment for a recovery in China’s struggling property market.Locally on Friday, the ASX200 rose 0.4% as the tech sector boosted the market with a 1.5% rally on the back of Nvidia’s results and strong growth projections for technology companies for the remainder of 2024.Aussie Broadband shares soared over 18% on Friday after the internet provider beat forecasts in the first half, while Jumbo Interactive shares rallied 9% after also beating expectations for the first half.What to watch today:Ahead of the local trading session the SPI futures are expecting the ASX to open Monday’s session 0.05% higher, extending the rally of last week into Monday.On the commodities front this morning, oil is trading 2.7% lower at US$76.49/barrel, gold is up 0.55% at US$2035/ounce, and iron ore is trading flat at US$122.50/tonne.AU$1.00 is buying US$0.66, 98.79 Japanese Yen, 51.70 British Pence and NZ$1.06.The local reporting season continues today with Adairs, Endeavour Group, Kogan.com, Nanosonics, TGP Telecom, and Suncorp Group will release results.Trading Ideas:Bell Potter has maintained a buy rating on Accent Group (ASX:AX1) and raised the 12-month price target from $2.35 to $2.50 following the release of the leading fashion retailers’ first half results including beating Bell Potter expectations in gross margins, inventory, net debt and dividends. The first 7 weeks of the second half of FY24 has also started trading on an encouraging note.And staying with the retailers, Bell Potter has maintained a buy rating on leading fashion jewellery retailer Lovisa (ASX:LOV) and significantly raised the 12-month price target on the company from $26.50 to $30.70 following the release of the company’s first half results including key beats of expectations for strong gross margins and interim dividend. The second half, like Accent Group, has started on a positive note and the analyst believes the new store run-rate will ramp up into the remainder of the second half. 

As we end week 3 of the local reporting season calendar, 159 companies have reported their earning results, with 57 beating expectations, 60 meeting expectations and 42 missing expectations. 22 companies have been upgraded by brokers, while 26 were downgraded, mostly due to slowing earnings growth and cost management inefficiencies across the first half. So, what were the market movers this week? In this week’s wrap, Grady covers:(0:38): Pilbara Minerals (ASX:PLS) facing industry challenges as lithium prices fall(1:42): retail blues with Woolworths’ (ASX:WOW) turbulent week(2:38): NAB’s (ASX:NAB) fall in cash earnings but steady share price(3:20): why investors disembarked their investment in Qantas (ASX:QAN)(5:27): market movements this week(6:35): the most traded stocks & ETFs by Bell Direct clients(7:03): economic data to watch next week.

Wall St closed mixed overnight as investors reacted to further earnings reports. The Dow Jones and S&P 500 both rose by 0.13% with the tech-heavy Nasdaq ending the trading session down 0.32%.Over in Europe, markets closed slightly lower as markets failed to gain any positive momentum. The STOXX600 closed 0.2% lower with the majority of sectors ending the trading session in the red. Losses were led by banks which saw a fall of 1% but this was slightly offset by autos which saw a rise of 1.6%. Germany’s DAX and the French CAC both gained 0.29% and 0.22% respectively whilst over in the UK, the FTSE100 lost 0.73%. Locally yesterday, the ASX200 closed 0.66% lower with losses led by the consumer staples sector which fell 4.26% by the closing bell. This was offset by the information technology sector which saw a rise of 2.23% by market close.And in some other big news locally yesterday, Woolworths CEO Brad Banducci stepped down amid a food price review with Amanda Bardwell appointed as the new CEO.What to watch today:The Australian share market is set to open lower, with the SPI futures suggesting a fall of 0.42% at market open this morning.On the commodities front this morning,Oil is trading 1.37% higher at US$78.08 cents a barrel as Houthi attacks on commercial vessels crossing the red sea, continue to disrupt supply logistics. Gold is up 0.08% to US$2025 an ounce and iron ore is trading 3.86% lower as new surveys are showing that new home sales in China have plummeted 34% since January last year.Trading Ideas:Bell Potter maintains a buy rating on Retail Food Group (ASX:RFG) and has kept its 12-month price target steady at $0.13. The buy rating is maintained by Bell Potter as they continue to view RFG’s valuation as undemanding and remain positive on the potential for resilience in the business given lower average transaction values and higher volumes across the majority of the domestic business.And Trading Central has identified a bullish signal on SG Fleet Group (ASX:SGF), indicating that the price may rise from the close of $2.65 to the range of $2.98-$3.08 on a pattern formed over 97 days, according to the standard principles of technical analysis.

Over in the US today on this holiday shortened trading week, stocks closed Tuesday’s session lower across the board led by the tech-heavy Nasdaq declining 0.92% on investor fears of overvaluation of the tech juggernaut stocks including Amazon, Microsoft and Nvidia which is set to report after the closing bell. The Dow Jones fell 0.17% on Tuesday while the S&P500 ended the day down 0.6%.It was a big day for M&A activity in the US on Tuesday as Capital One Financial agreed to purchase Discover Financial Services in an all-stock deal worth $35.3bn, while Walmart announced it will acquire TV maker Vizio for $2.3bn.In Europe overnight, markets closed mostly lower across the region as investor sentiment fell on fears of a prolonged period before rate cuts both in Europe and over in the US. The STOXX600 fell 0.1%, ending a four-day winning streak, Germany’s DAX lost 0.14%, the French CAC rose 0.34% and, in the UK, the FTSE100 ended the day down 0.12%.The ASX200 has had a pretty muted week this week with the key index closing Tuesday’s session down 0.08% as a selloff in materials and energy stocks offset the communications services sector rallying 1.5%.It’s week three and we are in the heart of reporting season locally this February, with 95 companies having reported of which, 36 beat expectations, 33 met expectations and 26 missed expectations.Australian mining giant BHP also weighed on the local bourse this week after reporting its lowest half-year profit in eight years, with the company blaming its struggling Aussie nickel and some overseas iron ore assets weighed on the first half performance.Also weighing on local iron ore miners yesterday was mounting concerns over the demand outlook in China as it continues to struggle making material growth progress post pandemic, especially on its struggling property sector front.On the banking front, Australia’s competition regulator overturned an initial ruling against a merger between ANZ and Suncorp banks yesterday to approve the merger after ANZ and Suncorp successfully appealed the original ruling. The ACCC found the deal would not hurt competition in the home, business or agribusiness lending in Australia, especially as Macquarie continues to go from strength to strength alone in the home lending market, now accounting for 5.3% of the home lending market at the end of 2023. Shares in ANZ fell 2.7% on the news while Suncorp shares rose 5.34% on Tuesday.What to watch today:Ahead of the midweek trading session here in Australia, the SPI futures are expecting the ASX to open down 0.28% following the red run on Wall St overnight.On the commodities front this morning, oil has dropped 1.43% to trade at US$77.32/barrel, gold is up half a percent at US$2027/ounce and iron ore is up 1.17% at US$129.50/tonne.AU$1.00 is buying US$0.66, 98.22 Japanese Yen, 51.89 British Pence and NZ$1.06.Trading Ideas:Bell Potter has downgraded the rating on Solvar (ASX:SVR) from a buy to a hold and slightly reduced the 12-month price target on the Australian consumer finance company following the release of first half results showing lower profit, the extent of weakness in New Zealand and higher bad debts.Trading Central has identified a bullish signal on Eagers Automotive (ASX:APE) following the formation of a pattern over a period of 112-days which is roughly the same amount of time the share price may rise from the close of $14.84 to the range of $16.90 to $17.40 according to standard principles of technical analysis.

Over in the US, Wall Street was closed on Monday due to the Presidents Day holiday, with trading to resume tomorrow.In Europe overnight, markets closed mostly higher, carrying on the positive sentiment of last week with the STOXX600 closing the day up 0.17% driven by a rally for healthcare stocks. Germany’s DAX bucked the positive start to the week closing the session down 0.15%, while the French CAC ended the day flat and the FTSE100 in the UK rose 0.22% to start the week in the green.In Asia, markets also closed mostly higher overnight as investors returned from the Lunar New Year holidays and upbeat travel data boosted investor sentiment. Consumer spending in China rose higher than pre-COVID levels across the Lunar New Year holiday according to data out in the region, indicating economic recovery on the consumer front is underway, which prompted China’s CSI300 index to rise 0.5% on Monday. Japan’s Nikkei and Hong Kong’s Hang Seng indices each fell to start the week lower while South Korea’s Kospi rose 1.3%.The ASX started the week with a gain of just 0.09% on Monday as an afternoon sell off erased most of the gains from earlier in the session with real estate stocks weighing on the key index which offset gains among the miners and banks.As we head into week three of the local reporting season calendar, so far 82 companies have reported first half results with 30 beating expectations, 31 meeting expectations and 21 missing expectations.Lendlease was the worst performer in the real estate sector with the company plunging 16% after reporting a $136m loss for the first half and downgrading its return on equity guidance for the remainder of FY24 in results released yesterday.The insurance providers in QBE and IAG were two key names that missed expectations and were subsequently sold off as investors responded to the weaker than expected results from the two providers.A2 Milk on the other hand jumped 12.5% on Monday after the dairy distribution company posted stronger revenue and profits in the first half, attributing the strong results to growth in the Chinese market products.Leading cement producer Boral also rallied 4.6% on Monday after announcing Seven Group has made an offer to buy the remaining 28.4% stake in the company that it does not already own.What to watch today:Ahead of the local trading session here in Australia the SPI futures are expecting the ASX to open Tuesday’s session flat ahead of a busy reporting season calendar today including results out of Ansell, BHP Group, Sonic Healthcare, Baby Bunting, Coronado Global Resources and more.On the commodities front this morning, oil is up 0.5% at US$79.57/barrel, gold is up 0.21% at US$2017.35/ounce and iron ore is flat at US$128/tonne.AU$1.00 dollar is buying US$0.65, 98.18 Japanese Yen, 51.83 British Pence and NZ$1.06.Trading Ideas:Bell Potter has reduced the 12-month price target on Boral (ASX:BLD) from $6.30 to $6.24 and maintain a hold rating on the leading vertically integrated supplier of construction materials in Australia following the receipt of a takeover offer from Seven Group which is already a majority investor however is proposing, under the new deal, to acquire the remaining 28.4% interest that it does not own. The offer is a combination of cash and scrip and Bell Potter believes the offer proposal appears to be fair.And Trading Central has identified a bearish signal on PWR Holdings (ASX:PWH) following the formation of a pattern over a period of 25-days which is roughly the same amount of time the share price may fall from the close of $10.76 to the range of $8.80 to $9.10 according to standard principles of technical analysis.

Wall Street ended a 5-week winning streak across the key indices on Friday with the Dow Jones retreating more than 100 points as investors reassessed the outlook for the Fed to cut rates with anticipation rate cuts will come later than first expected. The S&P500 fell almost half a percent on Friday while the tech-heavy Nasdaq declined 0.82%. For the week, the key indices each posted their first loss in 5-weeks with the Dow losing 0.11%, the S&P500 shedding 0.42% and the Nasdaq declining 1.34%.Stronger-than-expected Producer Price Index data drove investor concerns for later rate cuts as the PPI reading for January showed wholesale inflation rose 0.3% where economists were polling a 0.1% gain.The Ten-year Treasury Yield also rose to 4.3% on Friday which added to investor’s hitting the sell button on equities in favour of safer returns through government bonds.Over in Europe it was a different story on Friday with the key markets closing the last trading session of the week higher prompted by strong economic data indicating resilience in some markets despite the high interest rate environment. The STOXX600 rose 0.6% on Friday, Germany’s DAX added 0.42%, the French CAC closed 0.32% higher and, in the UK, the FTSE100 had the biggest gain of 1.5%. The strength in the UK on Friday was driven by retail sales coming in at month-on-month growth of 3.4% for January which is more than double what economists were expecting and follows a record decline in the December sales reading.Across the Asia markets on Friday, Hong Kong’s Hang Seng led the gains across the Asia markets on Friday with the key index rising 2.41% while mainland Chinese markets remained closed for the Lunar New Year holidays. Japan’s Nikkei hit a fresh 34-year high, and investors in the region awaited the release of Singapore’s 2024 budget which came out later on Friday.Locally on Friday, the ASX200 rose 0.7% and climbed 0.2% for the week, boosted by Australia’s resources sector as weakness in the US dollar fuelled a rally for gold, oil, and iron ore prices.GQG Partners was one of the top performing stocks locally on Friday after the boutique investment manager reported it has already raised a further US$2.9bn in the first 6-weeks of 2024, while QBE and IAG insurers both fell out of favour with investors on Friday after missing analysts’ expectations in the first half.What to watch today:Ahead of the first session of the new trading week, the SPI futures are expecting the local market to open Monday’s session up 0.11% tracking gains on Wall Street from Friday.On the commodities front this morning, oil is trading 1.5% higher at US$79.19/barrel, gold is up 0.45% at US$2013/ounce and iron ore is flat at US$128/tonne.AU$1.00 is buying US$0.65 cents, 98.08 Japanese Yen, 51.84 British Pence and NZ$1.07 cents.Trading Ideas:Bell Potter has increased the rating on Whitehaven Coal (ASX:WHC) from a sell to a hold rating and maintained the 12-month price target of $7.65/share following the release of the company’s first half results including most metrics meeting Bell Potter estimates and the company also announced a surprise 7cps dividend. The company will also soon become the operator of large Queensland met coal assets, positively shifting the company’s commodity exposure and risk profile.And Trading Central has identified a bullish signal on Pilbara Minerals (ASX:PLS) following the formation of a pattern over a period of 21-days which is roughly the same amount of time the share price may rise from the close of $3.71 to the range of $4.06 to $4.14 according to standard principles of technical analysis.

We are now halfway through reporting season, a time when the majority of ASX-listed companies are releasing their financial results, provoking much share price movement across the market. So far this reporting season, 53 companies have reported earnings, with 23 beating market expectations, 19 in line with what analysts anticipated, while 11 missed expectations. In this week’s wrap, Sophia covers:(0:39): Commonwealth Bank’s (ASX:CBA) fall in net interest margin(1:32): how AMP (ASX:AMP) surprised the market this week(2:22): why IDP Education (ASX:IEL) is on Bell Potter’s radar(3:05): Telstra’s (ASX:TLS) disappointing half year results(4:11): market movements this week so far(5:46): the most traded stocks & ETFs by Bell Direct clients(6:17): economic data to watch next week. 

Wall St closed higher overnight as the S&P 500 closed at a record high rising 0.58%, tipping over the 5,000 point mark. The Dow Jones gained 0.91% and the tech-heavy Nasdaq rallied 0.3%In terms of US stocks, Tesla and Meta both outperformed expectations which saw them rise 6% and 2% respectively.Over in Europe, markets closed higher as investors continue to react to corporate earnings as they come in. The STOXX 600 closed 0.6% higher with constructions stocks rising 1.1% whilst oil and gas stocks fell 0.9%. Germany’s DAX gained 0.6%, the French CAC rose 0.86% and over in the UK the FTSE100 closed 0.38% higher by market close.Locally yesterday, the ASX closed 0.77% higher, led by gains in the information technology and real estate sector of 6.81% and 3.36% respectively. This was offset by the energy sector which lost 2.10%.What to watch today: The Australian share market is set to open higher, with the SPI futures suggesting a rise of 0.94% at market open this morning.On the commodities front this morning,Oil is up 2% to US$78.17 a barrel following the release of disappointing US retail sales data, weakening the US dollar. Gold is up 0.59% to US$2004 an ounce and iron ore is trading flat at US$128 a tonne. Trading Ideas:Bell Potter maintains a hold rating on Altium (ASX:ALU) and has increased its 12-month price target from $44 to $66.75. The hold rating is maintained following the announcement of a binding scheme implementation agreement with Renesas for the company to acquire 100% of the issued shares in Altium for consideration of $68.50 in cash. The price target has been raised to a modest discount to the offer price to allow for some risk of the scheme not proceeding.And Trading Central has identified a bullish signal on Magellan Financial Group (ASX:MFG), indicating that the stock price may rise from the close of $9.32 to the range of $10.60-$10.90, on a pattern formed over 29 days, according to the standard principles of technical analysis.

Wall St closed higher overnight, gaining back losses sustained in it’s previous session. The Dow Jones jumped 0.39%, the S&P 500 closed 0.96% higher and the tech-heavy Nasdaq rallied 1.30%.In terms of US shares Lyft posted better-than-expected results in the fourth quarter which lead to a 36% jump for the ride-hailing company. Over in Europe, markets closed higher as investors react to the latest earnings reports and inflation data coming out of the UK. The STOXX600 closed half a percent higher, led by tech stocks which added 1% with mining stocks losing half a percent. Germany’s DAX closed 0.38% higher, the French CAC gained 0.68% and over in the UK, the FTSE 100 closed 0.75% higher as UK inflation data held steady at 4% year-on-year in January. Locally yesterday, markets closed 0.73% lower with the majority of sectors finishing in the red. Losses were led by the information technology and financial sector which lost 1.32% and 1.21% respectively. This was slightly offset by the industrial sector which saw a gain of 0.26% by market close yesterday.What to watch today:The Australian share market is set to open higher, with the SPI futures suggesting a rise of 0.63% at market open this morning.In terms of economic data, January unemployment data will be released this morning with a forecast of 4%, up 0.1% from its previous result.On the commodities front this morning,Oil is trading 1.71% lower at 76 US dollars and 59 cents a barrel, gold is trading 0.06% lower at 1990 US dollars an ounce and iron ore is trading flat at 128 US dollars a tonne.Trading Ideas:Bell Potter maintains a buy rating on Seven Group Holdings (ASX:SVW) and has increased its 12-month price target from $38 to $44.30. The buy rating is maintained following good results in the first half of FY24 and SVW being market leaders in their respective industry, with scale, brand and industry expertise underpinning commercial advantages that are hard to replicate by competitors.And Trading Central has identified a bearish signal on Waypoint REIT (ASX:WPR), indicating that the stock price may fall from the close of $2.47 to the range of $2.18-$2.24, on a pattern formed over 18 days, according to the standard principles of technical analysis.

Wall St closed lower overnight following the release of hotter-than-expected inflation data for January. The Dow Jones fell 1.35%, the S&P 500 lost 1.37% and the tech-heavy Nasdaq ended the day 1.8% in the red.The consumer price index rose 0.3% in January from December and increased 3.1% on an annual basis, which was above the 0.2% month-on-month and 2.9% annual rate that economists were expecting.Over in Europe, markets closed lower in the region following the release of some key corporate earnings results and hotter-than-expected inflation reading out of the US. The STOXX600 fell 1% on Tuesday, Germany’s DAX lost 0.92%, the French CAC closed 0.84% lower and, in the UK, the FTSE100 shed 0.81%.The local market closed Tuesday’s session 0.15% lower, extending on Monday’s losses as the healthcare sector again weighed on the key index, while utilities, financials and discretionary stocks closed the day in the green. The market losses were slightly offset by investor sentiment rising after Westpac consumer confidence data for February came in at a rise of 6.2%, up from a 1.3% decline in January and well above what economists were expecting of a further 0.8% decline. NAB business confidence data also came in at a rise of 1 point which was in line with economists’ expectations.What to watch today:The Australian share market is set to open lower, with the SPI futures suggesting a fall of 1.64% at the open this morning.On the commodities front this morning,Oil is trading over 1% higher at US$77.74 cents a barrel as tensions in the middle east help support oil prices. Gold is trading down 1.3% to US$1993.60 cents an ounce following stronger-than-expected inflation data coming out of the US. And iron ore is trading flat at US$128 a tonne. Trading Ideas:Bell Potter has initiated coverage on MMA Offshore (ASX:MRM) and has recommended a buy with a 12-month price target of $2.55. MMA Offshore is an Australian-marine services business, which delivers vessel, subsea and project logistics expertise to a range of global customers. The buy rating is recommended as the offshore services market is in the midst of a boom cycle following a protracted downturn by the oil price crash in 2014 and the subsequent fall in demand.And Bell Potter maintains a buy rating on HealthCo. H&W REIT (ASX:HCW) despite lowering its 12-month price target to $1.70. The buy rating is maintained as HCW appears to be one of the better relative value propositions amongst the REITs sector with it being the only REIT to recognise value uplift at the half. 

Wall Street closed mixed on Monday with the Dow Jones rising to a record close, building on the momentum of last week as investors responded to key earnings results and await the release of core inflation data out later this week to determine the broader picture of business and economic stability in the higher interest rate environment. European markets started the week in positive territory across the board as investors continue responding to corporate earnings results out in the region. The local market started the new trading week with a rollercoaster of a session as the key index rose and fell throughout the day before closing 0.4% lower as investors responded to key trading updates and reporting season results. Tech stocks took lead from the Nasdaq’s strong rally last week while consumer discretionary stocks rose on resilient results out of some big names.Healthcare giant CSL weighed on the healthcare sector and ASX as a whole yesterday, with its shares falling over 5% on the announcement that the company’s top-line results from the Phase 3 trial evaluating the efficacy and safety of its CSL112 drug in reducing the risk of major adverse cardiovascular events in patients, did not meet its primary efficacy endpoint reduction at day 90, and that the company now has no near-term plans to file for regulatory approval of the drug candidate.Reporting season ramped up yesterday with JB Hi-Fi rallying 7% during the session after posting results that topped analysts’ expectations. Despite revenue, profit and the company’s interim dividend all declining, investors bought into the tech retailer as the results were not as bad as were expected and reflected the company’s resilience amid the declining consumer spend environment.Synlait Milk also disappointed investors yesterday, with shares dropping 14% after the company warned investors to brace for a net loss in the range of $17m-$21m for the six-month period ending 31st January mainly due to financing costs and changes in margins.Rail freight operator, Aurizon, was the talk of the market yesterday after posting strong first half results including revenue up 16%, NPAT growth of 82% to $237m, EPS up 82% and increased its dividend per share by 39% to 9.7ps. Aurizon also reported a 169% rise in free cashflow, attributing the impressive first half results to a solid performance in the Network and Coal businesses and continued revenue and volume growth in Bulk and Containerised freight.On the economic calendar today, NAB Business Confidence data for January and Westpac Consumer Confidence data for February are released this morning with the expectation of a rise in business confidence but a slide in consumer confidence.What to watch today:Ahead of the local trading session the SPI futures are expecting the ASX to open Tuesday’s session 0.26% higher.On the commodities front this morning, oil is flat at US$76.80/barrel, gold is down 0.32% at US$2017/ounce, and iron ore is flat at US$128/tonne.AU$1.00 is buying US$0.65, 97.62 Japanese Yen, 51.65 British Pence and NZ$1.07.Trading Ideas:Bell Potter has maintained a buy rating on Propel Funeral Partners (ASX:PFP) and have raised the 12-month price target on the company from $5.90 to $6.20 following the company’s successful raising of ~$90m via a $80m institutional placement and $10m non-underwritten share purchase plan at $5.15/share. Proceeds from the raising are to be used to pay down debt to provide financial flexibility to pursue further growth initiatives, including acquisitions.Trading Central has identified a bullish signal on JB Hi-Fi (ASX:JBH) following the formation of a pattern over a period of 20-days which is roughly the same amount of time the share price may rise from the close of $60.58 to the range of $60.90 to $61.90 according to standard principles of technical analysis.

Wall Street closed mixed on Friday with the S&P500 climbing 0.57% to close above 5000 points for the first time ever on Thursday as investors responded to December’s revised inflation report came in below first reported reading. The Dow Jones fell 0.14% at the closing bell while the tech-heavy Nasdaq ended the day up 1.25%. Over the 5 trading days last week the S&P500 added 1.4% in its 5th straight positive week, the Nasdaq rose 2.3% and the Dow Jones remained flat across the trading week.The initial December inflation reading of 0.3% growth was downwardly revised on Friday to a 0.2% increase and core inflation results for the U.S. are due out this week.Strong earnings results are also driving investor confidence in the US as tech mega caps including Nvidia and Alphabet rallied 3.6% and 2% respectively on Friday while Cloudfare soared 19.5% on strong earnings.Over in Europe, markets closed slightly lower on Friday as investors digested corporate earnings results despite the release of favourable economic data out in the region. The STOXX600 fell just 0.08% on Friday, Germany’s DAX lost 0.22%, the French CAC dropped 0.24%, and in the UK, the FTSE100 ended the day down 0.3%.Fresh inflation data out of Germany released on Friday indicated inflation fell to 3.1% in January in a positive sign for Europe’s largest economy.Locally on Friday, the ASX200 rose 0.07% led by the technology sector rallying 1.12% and healthcare stocks adding 1%, while losses among energy and utilities stocks weighed on the key index.Boral shares jumped 13% on Friday after the leading cement producer delivered very strong first half results including revenue up 9.4% and underlying NPAT soaring 143% over the 6-month period. Strong price realisation and volume recovery were the drivers of the stronger first half results.Local uranium stocks took a hit on Friday after Canadian uranium miner Cameco announced plans to expand production at its Cigar Lake Mine and McArthur River/Key Lake, to address the growing global demand for the key commodity. Boss Energy fell 12.7% on Friday while Paladin Energy fell just over 7%.What to watch today:Ahead of the local trading session here in Australia to start the new week, the ASX200 is set to open Monday’s session slightly in the red ahead of a big reporting season week locally this week.On the commodities front this morning, oil is trading 0.81% higher at US$76.84/barrel, gold is down 0.5% at US$2022.90/ounce, uranium is up 6% at US$106/pound and iron ore is flat at US$128/tonne.AU$1.00 is buying US$0.65, 97.29 Japanese Yen, 51.67 British Pence and NZ$1.06.On the reporting season calendar today, you can expect to see results released from Aurizon Holdings, Beach Energy, JB Hi-Fi, and James Hardie Industries.Trading Ideas:Bell Potter has maintained a hold rating on REA Group (ASX:REA) and has slightly decreased the 12-month price target from $179 to $174 following the release of first half results including a 22% increase in EPS to 189cps, a 16% increase in dividend to 87cps which fell short of Bell Potter expectations. Despite the strong quarter, Bell Potter believes the current share price of $176.43 has REA Group relatively fully valued.And Trading Central has identified a bullish signal on Infratil (ASX:IFT) following the formation of a pattern over a period of 9-days which is roughly the same amount of time the share price may rise from the close of $10.11 to the range of $10.80 to $11/share according to standard principles of technical analysis.

Reporting season has kicked off and 13 companies released their financial results so far, with 6 beating expectations and 7 meeting expectations. In this week’s wrap we highlight the results and investor reactions to some key companies. Locally, from Monday to Thursday, the ASX200 fell 0.78%, weighed down by the materials and energy sectors and tracking the heavy losses on global markets.In this week’s wrap, Grady covers:(0:22): how Amcor’s cost controls offset the impact of lower volumes(0:56): what's driving performance of REITs like Centuria Industrial(1:28): ResMed exceeding expectations across all key metrics(2:11): why Champion Iron’s share price fell(3:09): investors impressed by Transurban’s results(5:42): the most traded stocks & ETFs by Bell Direct clients(6:14): economic data to watch next week.

Wall St closed higher overnight with the S&P 500 on the verge of reaching the 5,000 level for the first time ever. The Dow Jones rallied 0.13%, the tech-heavy Nasdaq saw a rise of 0.24% and the S&P 500 saw an increase of 0.06%. In terms of US stocks, Disney rallied 11% after beating quarterly earnings estimates and raising its guidance.Over in Europe, markets closed mixed as investors react to earnings. The STOXX600 closed flat with gains lead by household goods up 1.9% and losses spearheaded by health-care stocks which fell 1.9%. Germany’s DAX closed 0.25% higher, the French CAC also gained 0.71% but over in the UK, the FTSE100 fell 0.44%.In Asia yesterday, China’s inflation rate came in at a decline of 0.8%, which is double what the forecast was and indicated the economy continues to struggle on the economic growth front, post pandemic.Locally yesterday, markets closed 0.31% higher, led by the information technology sector which saw a rise of 1.18%. This was offset by the energy sector which lost just over half a percent by market close.What to watch today:The Australian share market is set to open slightly lower, with the SPI futures suggesting a fall of 0.05% at market open this morning.On the commodities front this morning, Oil is trading up 3.64% to US$76.55 a barrel following Israel’s decision to reject a ceasefire proposal and a decline of 3.15 million barrels in US gasoline inventories last week. Gold is trading 0.05% lower to US$2033 an ounce and iron ore retreated 0.39% to US$128 a tonne.Trading Ideas:Bell Potter maintains a buy rating on Cettire (ASX:CTT) and has increased its 12-month price target to $4.80. The buy rating is maintained by Bell Potter following the release of positive results in the first half of 2024 which saw sales revenue of $354m and an adjusted EBITDA of $26m.And Trading Central has identified a bullish signal on Pilbara Minerals (ASX:PLS), indicating that the stock price may rise form the close of $3.62 to the range of $4.40-$4.55, on a pattern formed over 46 days, according to the standard principles of technical analysis.

Wall St closed higher overnight as investors react to further earnings season results. The S&P 500 rose 0.82%, edging closer to the 5000 level, the Dow Jones gained 0.4% and the tech-heavy Nasdaq rallied nearly 1%.In terms of US stocks Microsoft and Nvidia added 2% each with Alphabet and Amazon rising by 1% each.Over in Europe, markets closed lower following uncertainty over the rate cut outlook. The STOXX600 closed 0.3% lower with most sectors finishing the trading session lower. Oil and gas stocks were down 1%, with auto stocks up half a percent. Germany’s DAX fell 0.65%, the French CAC lost 0.36% and over in the UK the FTSE100 ended the trading session 0.65% lower.Locally yesterday, markets closed 0.45% higher, with gains led by the utilities and real estate sectors of 1.74% and 1.11% respectively. This was slightly offset by the energy sector which retreated 0.95%.What to watch today: The Australian share market is set to open flat at market open this morning.On the commodities front this morning,Oil is trading 1.03% higher at 74 US dollars and 7 cents a barrel as investors continue looking at the situation in the Middle East. Gold is trading flat at 2035 US dollars and 15 cents an ounce as investors await for further clues regarding monetary policy. And iron ore is trading 1.53% lower at 128 US dollars and 50 cents a tonneTrading Ideas:Bell Potter maintains a buy rating on Australian Agricultural Co. (ASX:AAC) and has increased its 12-month price target to $2. The buy rating is maintained as cattle prices have rebounded strongly and US meat pricing indicators remain fairly firm. AAC is trading at a 40% discount, despite a 50% rally in the heavy steer indicator and an 87% rally in the EYCI post balance date.And Trading Central has identified a bullish signal on Austal Ltd (ASX:ASB), indicating that the stock price may rise from the close of $2.10 to the range of $2.37-$2.45 on a pattern formed over 33 days, according to the standard principles of technical analysis.

Wall St closed recovered some ground in afternoon trade on Tuesday to close the day mixed across the key indices as investors assessed the latest slew of corporate earnings and tried to gain further insight into the rate outlook out of the Fed. The Dow Jones rose 0.1%, the S&P500 fell 0.2% and the tech-heavy Nasdaq ended the day up 0.07%.Technology stocks continue to outperform this reporting season in the US with Palantir Technologies soaring 19% on Tuesday after posting a revenue beat for Q4 while music streaming platform, Spotify, rose 6% after also topping expectations and posting an increase in premium subscribers.In Europe overnight, markets rebounded to close higher as a rally for oil and gas stocks led to a positive close across markets in the region. The STOXX600 added 0.7% on Tuesday, Germany’s DAX added 0.76%, the French CAC rose 0.65% and, in the UK, the FTSE100 jumped 0.9%.The local market extended losses into Tuesday’s session as the tech sector, which wears the full brunt of high interest rates, plunged 1.8% after the RBA did not rule out further monetary policy tightening should inflation remain high.The RBA held the nation’s cash rate at 4.35% for the month ahead at the latest meeting yesterday as was largely expected but investors were more focused on the commentary and outlook out of the RBA to gauge an idea of when rate cuts may be on the horizon.Inflation remaining at 4.1% is a good signal that it is easing faster than expected, however, it is still too early to assume inflation is under control. The RBA also outlined that higher interest rates are working to establish a more sustainable balance between aggregate supply and demand, and that the labour market in Australia, despite showing signs of easing, remains tight. Until the RBA sees a trend in inflation drivers coming under control over a material period, the likelihood is that the nation’s cash rate will remain on hold at 4.35%. RBA Governor, Michele Bullock, said she expects the nation’s inflation rate to fall to the target range of 2-3% by 2025.Against all odds of declining Aussie retail spend, high interest rates and high input costs, the retailers continue to surprise with resilience as investors piled into Nick Scali and Myer on Tuesday. Nick Scali reported NPAT above the guided range for the first half of FY24 despite revenue falling in the high interest rate high cost of living environment. Myer on the other hand reported growth across most metrics and expects a strong NPAT for the first half between $49m and $53m.What to watch today:Ahead of the local trading session here in Australia for Wednesday, the SPI futures are expecting the ASX to open the midweek session up 0.73%.On the commodities front this morning, oil is trading 0.6% higher at US$73.23/barrel, gold is up 0.55% at US$2035/ounce, uranium has fallen 5.66% to trade at US$100/pound, and iron ore is flat at US$130.50/tonne.Trading Ideas:Bell Potter has maintained a buy rating on fashion jewellery company Lovisa (ASX:LOV) and raised the 12-month price target on the company from $25/share to $26.50 amid the growth opportunity in China representing the largest incremental market identified in the company’s global store rollout strategy. Since opening the first store in China in December, the Chinese fashion jewellery market alone is estimated at a value of US$13bn or 25x that of Australia which makes the market there highly attractive and a strong growth opportunity.And Trading Central has identified a bullish signal on Eagers Automotive (ASX:APE) following the formation of a pattern over a period of 148-days which is roughly the same amount of time the share price will rise from the close of $14.50 to the range of $17.20 to $17.80 according to standard principles of technical analysis.

Wall Street started the week lower across the key indices as treasury yields spiked on investor concerns that the Federal Reserve may not cut interest rates as much as expected and on the back of weak corporate results released dampening investor sentiment.The Dow Jones fell 0.71%, while the S&P500 lost 0.32% and the tech-heavy Nasdaq ended the day down 0.2%. Fed Chair Jerome Powell reiterated last week at the FOMC policy meeting that a rate cut in March was unlikely, as a fresh batch of strong economic data supported the need to maintain rates higher for longer to ensure inflation doesn’t rebound.McDonald’s fell 4% on Monday after releasing a mixed result for Q4 including slower sales which the fast-food giant has attributed to rising tensions in the Middle East.In Europe overnight markets closed slightly lower across the board as investors digested the idea of higher rates for longer both out of the US and across Europe. The STOXX600 fell 0.14% to start the week lower, Germany’s DAX fell 0.08%, the French CAC lost 0.03%, and, in the UK, the FTSE100 dropped 0.04%.The Asia markets also started the week mixed, where Chinese stocks rebounded from a 5-year low as the People’s Bank of China stimulus came into effect yesterday. Hong Kong’s Hang Seng ended the day flat, Japan’s Nikkei rose 0.54% and China’s CSI climbed 0.65% on Monday.The local market started the first trading day of the new week almost 1% lower, as materials and utilities stocks weighed on the key index while every sector aside from healthcare ended the day lower.The sell-off to start the week was mostly attributed to investors profit taking after the ASX soared to a record high close on Friday last week, and as investors await the RBA rate decision announcement today where it is widely expected that Australia’s central bank will maintain the current rate of 4.35% for another month as inflation remains above the target 2-3% range. The latest CPI report released last week indicated Australia’s quarterly inflation is easing faster than expected to a two year low of 4.1% in the 12-months to December.In M&A news yesterday West Australian gold miner Red 5 announced it is merging with Silver Lake Resources in a deal worth $2.2bn to create a gold mining powerhouse. Under the deal, Red 5 will retain 51.7% of the merged company while Silver Lake will hold the remaining 48.3%. Red 5 shares rallied on the news while Silver Lake Resources fell over 4% on Monday.What to watch today:Ahead of the local trading session here in Australia the SPI futures are expecting the ASX to open Tuesday’s session 0.3% lower on the back of global market turbulence overnight.On the commodities front this morning, oil is trading 1.03% higher at US$72.99/barrel, gold is down 0.66% at US$2025/ounce and iron ore is down 2.25% at US$130.50/tonne.AU$1.00 is buying US$0.65, 96.41 Japanese Yen, 51.95 British Pence and NZ$1.07.Trading Ideas:Bell Potter has increased the rating on LGI Limited (ASX:LGI) from a hold to a buy and raised the price target from $2.32 to $2.55 following the company announcing a long-term gas management agreement with Bingo Industries and its related entity, Dial A Dump, covering Bingo’s Eastern Creek Landfill site in Western Sydney. The initial term of the agreement is 15-years with two options for 5-year extensions. Bell Potter believes the contract further validates LGI’s position as an industry leader in biogas recovery.And Bell Potter has increased the rating on Inghams (ASX:ING) from a hold to a buy and raised the price target from $3.95 to $4.90 following emerging tailwinds for the leading poultry producer in Australia including grain and soymeal price declines, increased production and pricing of poultry having peaked.

Wall St closed higher on Friday following the release of quarterly results from Meta which topped expectations. The Dow Jones closed 0.35% higher, the S&P 500 ended the day up, just over one percent and the tech-heavy Nasdaq rallied 1.74%. US unemployment data was released on Friday, with it staying steady at its previous result of 3.7%, 0.1% lower than the consensus of 3.8%.The US 10-year treasury yield jumped 4.02% after the US government announced that 353,000 jobs were added to the US economy.Over in Europe, markets closed mix as investors react to a surprisingly strong US jobs report. The STOXX 600 closed flat with auto stocks leading gains at 1.1% whilst oil and gas stocks fell 1.4%. Germany’s DAX closed 0.35% in the green, the French CAC rose 0.05% and over in the UK the FTSE100 ended the day 0.09% in the red. Locally on Friday, markets closed 1.47% higher to end the trading week, led by strong results from the real estate and information technology sectors which saw rises of 3.27% and 3.13% respectively. This was slightly offset by the utilities sector which lost 0.41% by the closing bell.What to watch today:The Australian share market is set to open lower, with the SPI futures suggesting a fall of 0.7% at the open this morning.On the commodities front this morning,Oil is trading 2.09% lower to 72 US dollars and 28 cents a barrel as uncertainty in China’s economic recovery adds to the downward pressure.Gold is trading down 0.75% to 2039 US dollars an ounce after strong US jobs data dampens bets an early rate cut.And iron ore is trading up 0.38% to 133 US dollars and 50 cents a tonne. Trading Ideas:Bell Potter maintains a buy rating on Nufarm (ASX:NUF) and has slightly increased its 12-month price target to $6.35. Bell Potter maintains its buy rating as Nufarm is trading at a discount to its global peer group, despite delivering stronger revenue growth rates and having exposure to high growth ESG friendly revenues in biofuels and sustainable omega-3 oils.And Trading Central has identified a bullish signal in Helloworld Travel (ASX:HLO), indicating that the stock price may rise from the close of $2.51 to the range of $2.69-$2.73, on a pattern formed over 44 days, according to the standard principles of technical analysis.

This week was arguably the biggest week on the US reporting season calendar. We saw some of the world’s largest tech companies release quarterly results which impacted global markets. Investors were not impressed with some of the Magnificent 7 reports and we detail why. In this week’s wrap, Grady covers:(0:11): what the Magnificent 7 stocks are(1:14): investor concerns with Tesla’s warning of headwinds(1:36): Microsoft topping expectations across all metrics(2:01): disappointing results from Alphabet shares(2:15): mixed emotions sparked by Apple, Amazon, and Meta results(4:02): expectations from local earnings season, retailers, iron ore miners, and AI(6:35): the most traded stocks & ETFs by Bell Direct clients(7:08): economic data to watch next week.

Wall St has closed higher as Apple and Amazon are set to release their earnings reports after the bell. The Dow Jones closed 0.97% in the green, the S&P 500 rose 1.25% and the tech-heavy Nasdaq rallied 1.30%.In terms of US stocks, tech shares rallied with Apple and Amazon both jumping 1% and 2% respectively. Both are set to release their earnings after market close.US unemployment data is also set to be released later tonight with a forecast of 3.7%, the same as its previous result.Over in Europe, markets closed lower after the Bank of England held interest rates steady. The STOXX600 closed half a percent lower, led by mining stocks which fell 1.3%. Germany’s DAX lost 0.26%, the French CAC fell 0.89% and over in the UK the FTSE100 ended the day 0.11% in the red.Locally yesterday, markets closed 1.20% lower with all major sectors finishing in the red. Losses were led by the financial and real estate sectors of 1.81% and 1.67% respectively.What to watch today: The Australian share market is set to open higher, with the SPI futures suggesting a rise of 0.36% at market open this morning.On the commodity front this morning,Oil is trading down 2.32% to US$74.10 cents a barrel, following the OPEC committee confirming that members are maintaining production cuts. Gold is trading up 0.90% to US$2055 an ounce, following the release of the latest economic data coming out of the US. And iron ore is trading 2.21% lower at US$133 a tonne. Trading Ideas:Bell Potter maintains a buy rating on Regal Partners (ASX:RPL), despite slightly decreasing its price target. The buy rating is maintained by Bell Potter, following net inflows in the last quarter of $108 million, largely from the launch of the Regal Resources High Conviction Fund and the Regal Partners Private Fund. With these figures and the company adding new strategies, RPL has become more diversified, hence reducing risk.And trading central has identified a bullish signal in Hansen Technologies (ASX:HSN), indicating that the stock price may rise from the close of $5.18 to the range of $5.47-$5.55 on a pattern formed over 38 days, according to the standard principles of technical analysis.

Wall St closed lower overnight, following the announcement from Federal reserve chairman Jerome Powell that the US central bank will not be likely to cut rates in March. The Dow Jones lost 0.82%, the S&P 500 fell 1.61% and the tech-heavy Nasdaq ended the day 2.23% in the red.In terms of US stocks, Alphabet fell more than 6% following disappointing ad revenue results overshadowed better than expected earnings and sales.Over in Europe, markets closed marginally higher as corporate earnings continues. The STOXX600 ended the day 0.1% higher with autos stocks up 1.1% whilst retail stocks fell 2.1%.  Germany’s DAX closed 0.40% lower, the French CAC ended the trading day down 0.27% and over in the UK the FTSE100 fell just under half a percent.Locally yesterday, markets rallied following the release of important inflation data which saw the monthly CPI indicator slow to 3.4% in December, 0.2% lower than the forecast. Markets closed just over 1% higher yesterday with all major sectors finishing in the green. The biggest gains were made by the real estate and utilities sectors which gained 2% and 1.70% respectively.What to watch today: The Australian share market is set to open lower, with the SPI futures suggesting a fall of just over 1% at market open this morning.On the commodities front this morning,Oil is trading down 2.8% to US$75.67 a barrel after Chinese manufacturing activity contracted for the fourth consecutive month. Gold is down 0.11% to US$2033 an ounce, following the announcement that US interest rates will remain steady. And iron ore is trading 1.81% lower at US$136 a tonne.Trading Ideas:Bell Potter maintains a buy rating on Select Harvests (ASX:SHV) and has increased its 12-month price target on the almond producer to $4.70. The buy rating is maintained by Bell Potter, following firming in the USD almond pricing and solid crop production forecasts for the upcoming season set to uplift the EBITDA over FY24-FY25.And Trading Central has identified a bullish signal in Stockland Corp (ASX:SGP), indicating that the stock price may rise from the close of $4.56 to the range of $4.74-$4.78 over 25 days, according to the standard principles of technical analysis.

In Europe overnight, markets extended the week’s rally into Tuesday’s session as investors assessed preliminary fourth-quarter GDP figures for the eurozone which came in at a flat reading for the third quarter, indicating the eurozone economy stabilised and narrowly missed a recession. The STOXX600 and Germany’s DAX each rose 0.18% on Tuesday, while the French CAC added just under half a %, and in the UK, the FTSE100 rose 0.44%.Wall St closed mixed on Tuesday as investors look ahead to the Fed’s interest rate decision on Wednesday US time with markets expecting the Fed to maintain rates at the current level and not cut prematurely. The S&P500 closed flat, the Dow Jones ended the day up 0.3% and the Nasdaq fell 0.6%.General Motors shares jumped 8% on Tuesday after the automaking giant posted better-than-expected earnings, while Starbucks shares are down in after hours trading after the coffee giant released disappointing earnings results.In Asia, markets mostly fell on Tuesday with Hong Kong’s Hang Seng leading the losses as markets digested the fallout from the liquidation of embattled property developer, Evergrande.The local market is hovering in record territory with the ASX closing 0.3% higher on Tuesday as earnings season ramps up and favourable economic data boosts investor sentiment for a soft landing both at home and in the US. The tech sector took strong lead from the tech-heavy Nasdaq overnight as the local high growth sector rose almost 2% yesterday.While we are hovering around all-time index highs, it is important to realise the market gains are not across the board and some sectors are rallying against market expectations, for example China’s struggling property sector would traditionally have weighed on iron ore prices as the country Australia’s largest iron ore importer, however, the price of iron ore is us around US$135/tonne on expected stimulus out of the Chinese government.Megaport jumped over 29% during trade yesterday after the cloud connectivity provider said its revenue increased 5% to $48.6m in the latest quarterly update.City Chic recovered ground yesterday rising 22% as offshore buyers circle the company’s North America business.Nickel Industries also soared 22% yesterday after the Indonesian-based nickel producer announced an increased dividend and unveiled a share buyback valued up to $151m.Aussie retail sales data for December out yesterday came in at a decline of 2.7% which was attributed to a few reasons. Firstly, the black Friday and cyber-Monday sales period saw $9bn spent across the four days, a 22% rise on 2022, in a sign that many Aussies snapped up the bargains ahead of the December period. Additionally, the high interest rate environment we are currently in meant a lot of Aussies continue struggling with the high cost of living thus reducing discretionary spend all together, especially in the December period.What to watch today:Ahead of the local trading session here in Australia the SPI futures are expecting the ASX to open the midweek session flat following the mixed session on Wall St overnight.On the commodities front this morning, oil is trading 1.4% higher at US$77.81/barrel, gold is up 0.08% at US$2033/ounce and iron ore is up 0.73% at US$138.50/tonne.AU$1.00 is buying US$0.66, 97.40 Japanese Yen, 52.10 British Pence and NZ$1.08.Trading Ideas:Bell Potter has increased the rating on Mader Group (ASX:MAD) from a hold to a buy and has raised the 12-month price target on the leading provider of specialised contract labour following the release of the company’s December quarter update including revenues of $189.3m, which was driven by the Australia business outperforming the rest of the world with $141m. The company also reiterated FY24 revenue and NPAT guidance and paid down net debt over the period.

Wall Street rose back into record territory on Monday with the S&P500 ending the day up 0.76% at a fresh record high as investors assessed several tech giant earnings reports and ahead of the Fed’s interest rate decision announced tomorrow. The Dow Jones ended Monday’s session up 0.6% and the tech-heavy Nasdaq advanced 1.12% as we head into the busiest week of earnings results for the February reporting season. Microsoft, Apple, Meta, Amazon and Google parent company, Alphabet, are all set to release results this week which will likely spark movements for the Nasdaq, while Boeing and Merck also releasing results this week may spark movements on the Dow Jones.As the Fed’s FOMC meeting kicks off on the 30th January US time, traders are factoring in a 97% chance the Fed will not cut rates at the January FOMC meeting. The current market sentiment is that in order to maintain the current rally on Wall Street, earnings need to meet expectations, the Fed needs to provide outlook and positive guidance on the rate front, and later this week, US jobs numbers will need to remain resilient but not too hot.Over in Europe, markets started the week mixed ahead of key earnings results being released in the region, as well as economic data and bank announcements released later this week. The STOXX600 rose 0.2% led by oil and gas stocks rising 1%, while Germany’s DAX fell 0.12%, the French CAC lifted 0.09% and, in the UK, the FTSE100 ended the day mostly flat.Across the Asia markets on Monday, stocks closed mostly higher ahead of key fourth-quarter GDP data out of Taiwan and Hong Kong later this week while Singapore’s central bank left its policy unchanged, as expected, on Monday. Chinese authorities have also moved to make it more difficult for investors to ‘short’ Chinese stocks as China’s stock markets have been among the worst performing in the world this year so far amid the ongoing sluggish economic recovery in the region post-pandemic.Shares in embattled Chinese property developer, Evergrande, halted trading on Monday after Hong Kong’s high court ordered the liquidation of the company following the failure of an 11th- hour restructuring deal over the weekend.Locally on Monday, the ASX200 rose for a sixth straight session, end the day up 0.3% at the closing bell, led by the energy sector climbing 1.83% on rising tensions in the Red Sea, while technology stocks weighed on the market.Gold Road Resources tanked over 18% on Monday after the gold producer revealed its latest quarter production was lower QoQ due to delays accessing higher grade ore from the company’s open pit, on top of labour availability impacting the mining rate at the company’s operations.What to watch today:Ahead of the local trading session here in Australia, the SPI futures are expecting the ASX to open Tuesday’s session up 0.5% ahead of December’s retail sales data out later this morning.On the commodities front this morning, oil is trading down 1.3% at US$76.98/barrel, gold is up 0.65% at US$2031/ounce and iron ore is flat at US$137.50/tonne.AU$1.00 is buying US$0.66, 97.51 Japanese Yen, 51.97 British Pence and NZ$1.08.Trading Ideas:Bell Potter has maintained a buy rating on Gold Road Resources (ASX:GOR) but has lowered the 12-months price target from $2.05 to $1.80 after the gold producer released a Q4 CY23 update including production at its 50%-owned Gruyere Gold Mine had been impacted by labour availability issues and the issuance of lowered CY24 production guidance to allow for labour issues.And Trading Central has identified a bearish signal on Mader Group (ASX:MAD) following the formation of a pattern over a period of 99-days which is roughly the same amount of time the share price may fall from the close of $6.65 to the range of $4.20 to $4.60 according to standard principles of technical analysis.

Wall Street closed higher across the key indices on Friday as favourable economic data strengthened investor sentiment in the U.S. economy. The S&P500 rose for a sixth straight session, ending the day up 0.53%, the Dow Jones rose 0.64% and the tech-heavy Nasdaq added 0.18% despite Tesla shares slumping over 13% after the EV giant posted disappointing fourth-quarter results and warned of lower vehicle volume growth for the year ahead.US GDP data out late last week indicated the world’s largest economy grew at a rate of 3.3% in Q4 which was well above economists’ expectations of a 2% growth and provides further support that the U.S. economy remains resilient despite the currently high interest rate environment.Personal consumption expenditures data out of the US also pointed in the right direction for economy stability against inflation falling in fresh data out last Thursday. The PCI data, a preferred measure of inflation for the fed, showed an increase of 2% for the latest quarter.Over in Europe, markets closed at a two-year high on Friday as investors welcomed a slew of favourable economic data, the ECB’s latest rate decision and corporate fourth quarter earnings results. The STOXX600 rose 1.1% on Friday led by household goods jumping 5.2%. Germany’s DAX ended Friday’s session up 0.32%, the French CAC added 2.28%, and, in the UK, the FTSE100 rose 1.4%.Luxury brand retailer LVMH jumped 13% on Friday after posting strong fourth quarter results indicating sales which is a key boost for the luxury market in a time of slowing consumer spend.The European Central bank also met market expectations late last week by maintaining the ECB interest rate steady at 4% for a third straight time.Across the Asia markets on Friday, stocks mostly declined as investors piled out of EV stocks in the region amid concerns of slowing demand, while investors also digested inflation data out of Tokyo. Hong Kong’s Hang Seng dropped 1.8% on Friday, China’s CSI ended the day down 0.27%, and Japan’s Nikkei fell 1.34%. Japan’s inflation reading for January came in softer compared to December’s reading at 1.6% growth YoY and below the 1.9% rise economists were expecting.Locally on Friday, the ASX200 was closed for the Australia day public holiday.What to watch today:Ahead of the first trading session for the week here in Australia, the SPI futures are expecting the ASX200 to open the first trading day of the week up 0.19%.On the commodities front this morning, oil is up 0.84% at US$78.01/barrel, gold is down 0.07% at US$2018.38/ounce and iron ore is up 1.10% at US$137.50/tonne.AU$1.00 dollar is buying US$0.66, 97.43 Japanese Yen, 51.74 British Pence and NZ$1.08.Trading Ideas:Bell Potter has maintained a sell rating on Fortescue (ASX:FMG) but has slightly increased the price on the big miner following the release of the company’s December quarter results including iron ore shipments coming in-line with Bell Potter expectations, however, water supply disruptions continued to impact high grade magnetite production at Iron Bridge and FY24 guidance has been lowered again.And Trading Central has identified a bearish signal on Boral (ASX:BLD) following the formation of a pattern over a period of 29-days which is roughly the same amount of time the share price may fall from the close of $5.26 to the range of $4.92 to $4.98 according to standard principles of technical analysis.

Wall St closed mixed overnight as technology stocks were boosted following a rally from Netflix. The Dow Jones ended the session down 0.26%, the S&P 500 finished 0.08% higher and the tech-heavy Nasdaq gained 0.36%.Netflix shares jumped 10% after they reached an all time high of 260.8 million subscribers with revenue toppling analyst expectations.Over in Europe, the STOXX 600 rallied 1.15% higher with all sectors but telecoms finishing in the green, following the release of euro zone PMI data showing improved economic activity. Germany’s DAX ended the trading session 1.58% higher, the French CAC gained 0.91% and over in the UK, the FTSE100 finished in the green by over half a percent.Locally yesterday, markets closed just 0.06% higher with the materials and real estate sector up 1.31% and 0.93% respectively. This was offset by the information technology sector which lost 1.15%.What to watch today:The Australian share market is set to open higher, with the SPI futures suggesting a rise of 0.2% at the open this morning.On the commodity front this morning, Oil is up 1.18% to US$75.23 a barrel, following a larger-than -expected decline in US crude stockpiles. Gold is down 0.81% to US$2012 an ounce following the announcement of strong PMI data in the US. And iron ore is trading 0.75% higher at US$133.50 a tonne.Trading Ideas: Bell Potter maintains a buy rating on Chrysos Corporation (ASX:C79) despite slightly decreasing its price target. The buy rating is maintained as Bell Potter believes that the PhotonAssay technology will command a significant foothold within the large gold assaying market with current lease agreements with some large gold miners providing good near-term deployment visibility.And Trading Central has identified a bullish signal in Monash IVF Group (ASX:MVF), indicating that the stock price may rise from the close of $1.40 to the range of $1.46-$1.48 on a pattern formed over 25 days, according to the standard principles of technical analysis.

The local market advanced 0.51% on Tuesday tracking Wall Street’s rally and led locally by the health care sector jumping 1.02%. Heavyweight healthcare stocks including CSL and Cochlear gained 1.4% and 1.7% respectively while sleep apnoea device maker ResMed lifted 1.9% on Tuesday.As the recent story on the miner front has gone, Karoon Energy joined the lowered production guidance train yesterday as the company lowered its Brazil production guidance for 2024, blaming operational issues at its Bauna project in November for the downgrade. Investors sold out of Karoon shares yesterday sending the share price down 3.8%.Judo Bank on the other hand soared 16.8% after the company posted a 24% jump in profit before tax for the first half, driven by continued above-system lending growth, and stronger net interest margins, which have peaked for the big four banks.NAB Business Confidence data for December released on Tuesday also boosted market sentiment as business confidence rose to -1 point for the month, up from -8 points in November and well above economists’ expectations of -7 points in a sign business conditions are improving.It was a mixed session on Wall St on Tuesday with the Dow Jones retreating from record territory to close the day down 0.25% following the release of some disappointing earnings results, while the Nasdaq and S&P500 ended the day up 0.43% and 0.3% respectively. Investors used Tuesday’s session to pause and take some profits after it was confirmed the S&P500 officially reached bull market territory and the Dow Jones hit a new record high on Monday. United Airlines rose more than 6% on Tuesday after reporting stronger-than-expected fourth-quarter results, however, the airline said it expects a first quarter loss due to the grounding of Boeing 737 Max 9 airplanes across the US.General Electric shares slipped 1% on Tuesday following the issue of weaker-than-expected guidance, while Johnson & Johnson also dipped over 1% after the healthcare giant said the company’s pharma division sales will be lower in the second half of 2024.In Europe overnight, markets retreated as euro zone flash consumer confidence data fell to -16.1 points for December from -15 points in January which was against economists’ expectations of an improvement to -14.3 points, in a sign consumer confidence in the European economy continues to slide. The STOXX600 fell 0.25% on Tuesday, while Germany’s DAX and the French CAC each lost 0.34%, and, in the UK, the FTSE100 ended the day mostly flat.What to watch today:Ahead of the local midweek trading session here in Australia the SPI futures are anticipating the ASX to open 0.17% higher tracking gains on the Nasdaq and S&P500 overnight.On the commodities front this morning, oil is trading 0.74% lower at US$74.2/barrel, gold is up 0.15% at US$2024/ounce and iron ore is flat at US$132.50/tonne.AU$1.00 is buying US$0.66, 97.41 Japanese Yen, 51.96 British Pence and NZ$1.08.Trading Ideas:Bell Potter has maintained a buy rating on Coronado Global Resources (ASX:CRN) but has slightly decreased the 12-month price target on the leading pure-play metallurgical coal producer following the release of the company’s December quarterly sales that met Bell Potter expectations however, revenue fell significantly short of Bell Potter’s expected US$887m. CRN also reported full year CY23 saleable production was 15.8million tonnes at mining costs of US$107.60 which were 3% and 8% misses on guidance respectively.And Trading Central has identified a bearish signal on Pengana Private Equity Trust (ASX:PE1) following the formation of a pattern over a period of 15-days which is roughly the same amount of time the share price may fall from the close of $1.42 to the range of $1.30 to $1.32 according to standard principles of technical analysis.

Wall Street opened the new trading week in record territory across two of the three key indices as investors shook off the equity slump that started 2024 lower ahead of key Q4 GDP data out later this week.The Dow Jones rose 0.36% to trade above 38,000 for the first time during the session, while the S&P500 added 0.22% to reach a new all-time high and the Nasdaq advanced 0.32% on Monday.The strength in US equities signals a strong bull run that has been in effect since October 2022 and the duration of this rally will depend on whether the US central bank can successfully pull off a soft landing over a recession as inflation continues to cool in the world’s largest economy. Later this week, Q4 GDP data will further indicate how well the Federal Reserve’s rate policy has been at bringing inflation down while maintaining economic stability.Department store giant Macy’s rallied over 3% on Monday after rejecting a $5.8bn takeover offer while cost-cutting measures through laying off 16% of the workforce sparked a rally for SolarEdge shares.Over in Europe, markets closed higher in the region to start the new trading week on a positive note as investors await the release of eurozone consumer confidence and monetary policy meeting data out later this week. The STOXX600 rose 0.78% on Monday, Germany’s DAX added 0.77%, the French CAC climbed 0.56%, and, in the UK, the FTSE100 ended the session up 0.35%.The ASX has started the new trading week on a very positive note with the key index closing 0.75% higher on Monday, taking strong lead from Wall Street’s rally on Friday and driven by a tech surge on the local index. The global tech rally that took over markets in 2023 has extended into the new year as earnings growth on the AI and semiconductor front drives investor appetite for the high growth sector. The tech sector also benefits from interest rate cuts as it makes funding growth outlook more affordable for the high growth sector.Big miners across a few key commodities were hit hard yesterday for a range of reasons. Lithium market darling of the past few years, Liontown Resources tanked over 20% yesterday after the company announced it is reviewing its expansion plans and associated ramp-up of its Rare earths producer Lynas Rare Earths also fell out of favour with investors yesterday after releasing a December quarter update indicating output more than halved during the three months due to a temporary shutdown at its Malaysian facilities to complete an upgrade.What to watch today:Ahead of the local trading session here in Australia the SPI futures are expecting the ASX to open Tuesday’s session mostly flat.On the commodities front this morning oil is trading 2.38% higher at US$75.02/barrel, gold is down 0.3% at US$2023/ounce, and iron ore is up 2.71% at US$132.50/tonne.AU$1.00 is buying US$0.66, 97.44 Japanese Yen, 51.89 British pence and NZ$1.08.Trading Ideas:Bell Potter has decreased the 12-month price target on Lynas Rare Earths (ASX:LYC) from $8.50 to $7.60 however, maintain a buy rating on the leading producer of rare earths following, after the company released a first half trading update outlining production on the weaker side, a slide in revenue, and weaker outlook in amid China’s sluggish recovery.And Trading Central has identified a bullish signal on Washington H Soul Pattinson (ASX:SOL) following the formation of a pattern over a period of 124-days which is roughly the same amount of time the share price may rise from the close of $33.21 to the range of $37.30 to $38.20 according to standard principles of technical analysis.

Renewed confidence in equities boosted Wall Street to a positive close on Friday, with the key indices shaking off the negative market sentiment that started 2024 in a downturn. The S&P500 rallied 1.23% to a new record high while the Dow Jones added 1.05% and the Nasdaq ended the final trading session of the week up 1.7%. The rally that ended last week in the US overturned the negative start to 2024 taking all three indices into gains for the year so far. Fresh consumer confidence data out on Friday indicated consumers are becoming more confident in both a soft landing and controlled inflation in the world’s largest economy. As earnings season ramps up in the US, we are seeing companies across insurance, financials and other key sectors post better-than-expected earnings which further boosts investor confidence at a time where earnings were expected to begin easing amid slowing economic growth.Over in Europe, markets closed mostly lower as the World Economic Forum in Switzerland came to an end. The STOXX600 fell 0.3% on Friday while Germany’s DAX closed mostly flat, the French CAC dropped 0.4% and, in the UK, the FTSE100 ended the day up just 0.04%. The key message out of the economic forum was that while inflation is making good progress in declining to the target 2%, markets pricing in cuts from March is likely premature. UK retail sales data for December also indicated slowing retail spend as consumer sales dropped 3.2% in December, the traditionally high spend holiday trading period, as higher interest rates continue hurting UK consumers.Locally on Friday, the ASX200 rose 1.02% as investors piled into technology stocks with the sector advancing 3.01% while utilities stocks were the only sector to fall out of favour with investors on Friday. EML Payments led the gains on Friday as the payment services company announced it was shutting down its loss-making PFS card services Ireland business, while Lottery Corp and Jumbo Interactive experienced rallies on news of Australia’s Powerball Jack-potting to the second largest amount in history this week of $150m.What to watch today:Ahead of the local trading session here in Australia the SPI futures are expecting the ASX to open Monday up 0.35% following the strength on Wall Street that ended Friday’s session in gains for 2024.On the commodities front this morning oil is trading down 1% at US$73.20/barrel, gold is up 0.34% at US$2029.48/ounce, and iron ore is up 0.4% at US$129/tonne.AU$1.00 is buying US$0.66, 97.79 Japanese Yen, 52.14 British Pence, and NZ$1.08 .Trading Ideas:Bell Potter has maintained a sell rating on Fortescue (ASX:FMG), however, has significantly increased the 12-month price target on the major miner following a review into Bell Potter’s iron ore price forecasts. Near-term pricing upgrades are driven by unexpected resilience in the face of tight margins for Chinese steel producers, high levels of steel inventories and weak Chinese property sector outlook. Longer term though, Bell Potter has allowed for increased price support from growing demand from Indian steel production, Chinese government stimulus and recovering demand in the US and Europe.And Trading Central has identified bearish signal on Monadelphous Group (ASX:MND) following the formation of a pattern over a period of 51-days which is roughly the same amount of time the share price may fall from the close of $14.26 to the range of $12.90 to $13.20 according to standard principles of technical analysis.

This week’s market saw the fluctuation of commodity prices, the release of anticipated economic data, and a notable surge in uranium reaching unprecedented highs. The ASX200 declined 2% (Mon – Thurs), with all 11 industry sectors in the red. Materials and real estate posted the largest losses, while Boss Energy (ASX:BOE) was the best performing stock.In this week’s wrap, Sophia covers:(0:20): why the energy sector retreated this week(1:46): the fall in natural gas and iron ore prices(2:29): what’s behind the uranium rally(3:04): the latest unemployment rate data(3:51): the best performing stocks on the ASX200(4:30): the most traded stocks & ETFs by Bell Direct clients(5:04): economic data to watch next week.

Wall St closed higher overnight as a surge in the tech stocks, powered major averages into positive territory. The Dow Jones finished off the trading day strong gaining 0.54%, the S&P 500 finished 0.88% in the green and the tech-heavy Nasdaq rallied 1.35%. In terms of US shares, Apple added 3.4% following Bank of America upgrading the stock to a buy with a ‘20% upside over the next 12 months’. The Technology Select Sector SPDR Fund also reached an all time high, jumping 1.9%.The 10-year treasury yield held around the 4.15% level on Thursday following fresh jobs data showing ongoing tightness in the US labour market.Over in Europe, markets closed higher as investors further consume news and comments from the World Economic Forum in Switzerland. The STOXX600 closed 0.57% higher, rebounding following three previous, negative sessions with travel stocks gaining 5%. Germany’s DAX ended the trading day 0.83% in the green, the French CAC gained 1.13% and over in the UK the FTSE 100 rallied 0.17%.Locally yesterday, the Australian market fell 0.63% with the real estate sector losing over 2% and the industrial and materials sectors losing over 1%. This was slightly offset by the consumer discretionary sector which gained 0.3% yesterday.What to watch today:The Australian share market is set to open higher, with the SPI future suggesting a rise of 0.90% at the open this morning.On the commodity front this morning,Oil is up 2.22% to US$74.17 a barrel, following the continued geopolitical risk in the Middle East and output problems in the US helping drive up the price. Gold is up 0.81% to US$2021.73 an ounce and iron ore is down 1.53% to US$128.50 a tonne following the uncertain demand for construction materials in China.Trading Ideas:Trading Central has identified a bullish signal on SG Fleet Group (ASX:SGF), indicating that the stock price may rise from the close of $2.30 to the range of $2.76-$2.86 on a pattern formed over 73 days, according to the standard principles of technical analysis.And Trading Central has identified a bearish signal on Diversified United Investment (ASX:DUI), indicating that the stock price may fall from the close of $4.92 to the range of $4.80-$4.82 on a pattern formed over 22 days, according to the standard principles of technical analysis.

Rising Treasury Yields and uncertainty around the Fed’s rate cut outlook dampened investor sentiment on Wednesday, extending the red run across the key indices for the week. The Dow Jones fell 0.2%, while the S&P500 and Nasdaq declined 0.5% and 0.6% respectively on Wednesday.Treasury yields have been rising over the last few sessions following key Federal Reserve member speeches that warned the easing of monetary policy may come slower than investors first expected. This prompted investors to flee equities in favour of bonds as a safer return on investment in the current market environment.Stronger than expected retail sales out of the US boosted some retail stocks on Wednesday indicating consumers are still spending despite the high interest rate and tough cost-of-living environment in the US. Retail sales in the world’s largest economy rose 0.6% in December, a rise from 0.3% in November and above consensus expectations of a flat reading month-on-month.European markets closed the midweek session lower, extending on the global red run this week, as key inflation readings and World Economic Forum updates heightened investor concerns over the rate outlook in the region. The STOXX600 fell 1.1% as all sectors ended the day in the red led by mining stocks tumbling over 2.1%. Germany’s DAX closed 0.84% lower, the French CAC lost 1.07% and, in the UK, the FTSE100 fell 1.5% on Wednesday after inflation in the UK rose unexpectedly to 4% year-on-year in December’s reading.Locally on Wednesday, the Aussie market extended its red run into the midweek session, partly weighed on by global markets overnight on Tuesday, weak economic data out of China also weighed on the local market, and energy and materials stocks dragged the ASX lower on Wednesday. The energy sector sell-off was driven by the sliding price of oil yesterday amid escalating tensions in the Red Sea, however, we have seen a recovery in the price of oil this morning as a strong USD counteracts the Red Sea threat on the commodity.What to watch today:Ahead of Thursday’s trading session here in Australia the SPI futures are expecting the ASX to open 0.27% lower, extended on the negative global run this week. The pullback in global equities this year so far wasn’t unexpected as we saw markets both at home and overseas hover near all-time highs to end 2023. The pullback is primarily due to central banks around the world pushing back rate cut timeframes which is prompting investors to reposition in safer returns and diversified exposure through bonds and equities that perform better in the higher interest rate environment.On the commodities front this morning, oil is trading 0.6% higher at US$72.84/barrel, gold is down 1.06% at US$2006.10/ounce and iron ore is down 0.38% at US$130.50/tonne.AU$1.00 is buying US$0.65, 97.02 Japanese Yen, 52.14 British Pence and NZ$1.07.Trading Ideas:Bell Potter has maintained a buy rating on Integrated Research (ASX:IRI) and have slightly upgraded the price target on the leading global provider of experience management solutions from $0.60 to $0.66 following the company releasing a first half trading update including the company’s statutory revenue and EBITDA expectations coming in above Bell Potter expectations and the maintenance of no debt and a strong cash balance by the company throughout the first half.And Trading Central has identified a bullish signal on Eagers Automotive (ASX:APE) following the formation of a pattern over a period of 88-days which is roughly the same amount time the share price may rise from the close of $14.37 to the range of $16.60 to $17.10 according to standard principles of technical analysis.

Wall Street closed the first trading session of the holiday shortened trading week lower as investors assessed the latest batch of fourth quarter earnings results alongside rising bond yields. The Dow Jones fell 0.62% lower while the Nasdaq dipped 0.2% and the S&P500 ended the day down 0.37%. The benchmark 10-year Treasury note jumped nearly 12-basis points to 4.068% following Federal Reserve Governor Christopher Waller indicating the central bank may ease monetary policy slower than Wall Street had first anticipated, which prompted investors to sell equities in favour of government bonds.In Europe, markets closed lower again as investors digested comments made at the World Economic Forum in Switzerland. The STOXX600 fell 0.3%, Germany’s DAX lost 0.3%, the French CAC fell 0.2% and, in the UK, the FTSE100 declined 0.5%.We also have the European Central Bank indicating rate cuts may come later than first expected which is hurting GDP and economic growth in the region especially for the likes of Germany which are on the edge of technical recessions.The local market has started the week in the red, with the ASX200 ending Tuesday’s session down 1.09% as utilities and energy stocks weighed on the market, and every sector closed the day in negative territory.The supermarket giants weighed on the market yesterday, with Coles falling 2% and Woolworths sliding 1.5% after Australia’s competition watchdog said it would not hesitate to take legal action against a big supermarket chain for breaching consumer law, which comes just a week after Labor announced a review of industry codes, telling supermarkets to pass on lower wholesale costs to consumers and not ‘price gauge’ at the checkouts.Australia’s consumer confidence data slipped in January as Aussies remain concerned about financial pressures following 13 interest rate hikes out of the RBA since May 2022.What to watch today:Ahead of the midweek local trading session here in Australia the SPI futures are expecting the ASX to open Wednesday’s session up 0.05% despite the negative session across global markets overnight.On the commodities front this morning, oil is trading 0.81% lower at US$72/barrel, gold is down 1.34% at US$2027/ounce and iron ore is down 1.5% at US$131/tonne.The Aussie dollar continues to weaken against the greenback with AU$1.00 buying US$0.66, 96.94 Japanese Yen, 52.21 British Pence and NZ$1.07.Trading Ideas:Bell Potter has maintained a buy rating on Coventry Group (ASX:CYG) and increased the 12-month price target on the industrial supply and services group from $1.45 to $1.80 following the release of a first half trading update which overall was ahead of Bell Potter forecasts, including the anticipation of first half sales growth of 5.4% YoY and pre-leases standard EBITDA to lift 18.1% after the company implemented a range of buy and sell-side margin initiatives through the Trade network early in FY24.And Trading Central has identified a bearish signal on Sigma Healthcare (ASX:SIG) following the formation of a pattern over a period of 7-days which is roughly the same amount of time the share price may fall from the close of $0.95 to the range of $0.84-$0.86 according to standard principles of technical analysis.

Over in Europe, markets started the week lower as investors in the European region prepare for the World Economic Forum in Switzerland. The STOXX600 fell 0.5% on Monday, while Germany’s DAX closed down 0.49%, the French CAC lost 0.72% and, in the UK, the FTSE100 ended the day 0.4% lower. Germany’s DAX closed in the red after fresh GDP data indicated the economy contracted 0.3% in 2023 amid rising interest rates, weaker domestic and foreign demand and high inflation in the region. Despite the 0.3% contraction in the region, Germany’s GDP was still 0.7% higher in 2023 than pre-pandemic in 2019.Locally on Monday, the ASX was little unchanged with the key index closing the day down just 0.03% as a 2.11% surge in energy stocks was offset by losses among materials, healthcare and utilities companies.Uranium stocks have enjoyed an extended rally into the first trading weeks of 2024 as global sentiment around nuclear energy continues to rise. Locally, Boss Energy and Palandin Energy rose over 9% and over 7% respectively on Monday.On legal battles front yesterday, Santos and Qantas had very different outcomes that led to mixed reactions from investors. Santos shares rallied almost 4% after the mining giant received the green light to push ahead with laying the pipe at its $5.8bn Timor Sea gas project, after the Federal Court judge rejected cultural and environmental evidence from a group seeking to halt the project.Qantas shares on the other hand fell 4.44% on Monday on news that the airline is engaged in another legal case with its workforce over alleged underpayment of its aircraft engineers.What to watch today:Ahead of Tuesday’s trading session on the ASX, the local market is set to open the day 0.3% lower, taking no lead from Wall Street overnight as the U.S. was closed for the Martin Luther King Junior holiday.On the economic calendar today, we can expect Westpac’s consumer confidence data for January out this morning with the expectation of a slight rise by 0.5% for the first month of the year, that’s down from a 2.7% rise that ended 2023 on a high for consumers.Looking at the commodities, oil is trading 0.1% lower at US$72.61/barrel, uranium is up 1.65% at US$92.50/pound, gold is up 0.26% at US$2054/ounce and iron ore is down 2.92% at US$133/tonne amid ongoing weak economic growth fears out of China.AU$1.00 is buying US$0.67, 97.07 Japanese Yen, 52.31 British Pence and NZ$1.08.Trading Ideas:Bell Potter has increased the price target on Santana Minerals (ASX:SMI) from $1.40 to $1.85 and maintain a speculative buy rating on the gold explorer and developer after the company released an update outlining it is awaiting one last batch of infill drilling results before commencing an updated Rise-and-Shine Mineral Resource Estimate. Bell Potter’s re-rating follows an update on the outlook for gold price forecasts, a modification to Bell’s Notional Development Scenario to confine the initial project development to an open pit mine development on the Rise-and-Shine deposit and an increase in exploration valuation to account for unutilised Mineral Resources.And Bell Potter has maintained a buy rating on GrainCorp (ASX:GNC) but has slightly decreased the 12-month price target on the end-to-end grain logistics company following a review of key drivers at the end of harvest season including improved soil moisture and tighter domestic wheat premiums. The reason for the slight decline in price target is due to NPAT expectation being reduced by around 4% in FY24 on lower assumed crush margins. 

The Australian share market closed the week 0.12% higher, with technology and consumer discretionary leading the market, while utilities and materials declined the most. The US saw little change on Friday, with the three major benchmarks closing slightly mixed. The Dow Jones was down 0.3%, while the S&P 500 and the Nasdaq only gained 0.08% and 0.02% respectively. This followed disappointing earnings results which offset news of cooler-than-expected producer prices. The big focus was US bank earnings: Bank of American and JP Morgan shares declined, while Citigroup gained, after posting a $1.8 billion quarterly loss and announcing that they’re cutting 10% of its workforce. And US markets will be closed Monday for the Martin Luther King public holiday. What to watch today:The Australian share market is set to open higher this morning, with the SPI futures suggesting a 0.07% rise at the open. And economic data that the market will be looking out for this week includes Westpac’s consumer confidence data out tomorrow and December’s unemployment rate out on Thursday. Looking at commodities, Crude oil is trading almost 1% higher at US$72.86 per barrel, as concerns following potential supply disruptions escalated, following US and British air and sea strikes in Yemen. Gold has jumped over 1% to $2,050 an ounce, multiplying its morning gains on Friday, following the cooler-than-expected producer inflation print in the US that fuelled bets on earlier monetary easing by the Federal Reserve. Iron ore has fallen 3.2% to $136 per tonne, extending the decline from the 20-month high of $145, hit on January 4th, as decreasing margins for Chinese steel mills raised expectations of lower input buying. Trading Ideas:Trading Central has identified a bearish signal on Transurban Group (ASX:TCL), indicating that the stock price may fall from the close of $13.67 to the range of $13.05 to $13.20 over 7 days, according to the standard principles of technical analysis. 

The ASX200 advanced 2.54% this week (Mon - Thurs), buoyed by the Nasdaq and S&P500 hitting a 52-week high. The Dow Jones hit an all-time high, breaking through the 37,000 points barrier. The rally came after economic data showed inflation easing in the US and the Federal Reserve signalled rate cuts on the horizon in 2024. The ASX took strong lead from Wall Street with rate-sensitive sectors leading the gains including the REIT sector rising 5.82%, while tech stocks jumped 4.9%. In this week’s wrap, Grady covers:(0:26) key opportunities for investors to reposition their portfolios in 2024(0:37) what to consider in the healthcare sector(1:32) the outlook for gold heading into the new year(2:52) how retailers surprised the market in 2023(4:31) the best & worst performing stocks on the ASX200(5:11) the most traded stocks by Bell Direct clients this week(5:41) economic data to watch out for next week.Read the transcript here.

Wall Street’s rally experienced a significant boost on Wednesday with the Dow Jones soaring 1.4% to top 37,000 points for the first time ever after the Federal Reserve not only maintained the US cash rate, but also signalled it would cut rates three times next year amid inflation easing in the world’s largest economy. The S&P500 jumped 1.37% and the tech-heavy Nasdaq rallied 1.38% on Wednesday, leading to the three major indices hitting fresh 52-week highs. The Federal Reserve also lowered its inflation forecast for 2024, with the expectation of inflation to ease to 2.4%, down from the previously expected 2.6.Over in Europe, markets closed flat on Wednesday as investors in the region awaited the release of the Fed’s latest interest rate decision and any commentary on rate outlook from the world’s largest economy in the last month of 2023. The STOXX600 closed just 0.01% lower as gains for chemicals stocks were offset by a decline among telecoms stocks. Germany’s DAX fell 0.15% on Wednesday, the French CAC shed 0.16%, and, in the UK, the FTSE100 closed the day up 0.08%. UK GDP data out overnight indicated the English economy contracted by 0.3% in October, with the country’s services, production and construction services all shrinking according to new data out of the National Statistics on Wednesday. This follows growth of 0.2% in September.Locally yesterday, the ASX200 rose 0.31% driven by healthcare stocks lifting 1.11% buoyed by Sigma Healthcare soaring 40% after returning from a trading halt post Chemist Warehouse merger announcement. Neuren Pharmaceuticals was the best performing stock on the ASX200 on Wednesday while Chalice Mining and IDP Education weighed on the key index.What to watch today:Ahead of the local trading session here in Australia, the SPI futures are expecting the ASX to open Thursday’s trading session up 1.09% on the back of the Wall St rally overnight.On the commodities front this morning, oil has rebounded to trade 1.9% higher at US$69.91/barrel, gold is up 2.3% at US$2024/ounce, iron ore is trading 0.73% higher at US$138.50/tonne, and coal is trading 4.26% lower at US$146/tonne.The landmark COP28 summit in Dubai has seen nations agree to ‘transition away’ from coal, oil and gas as opposed to a complete ‘phase out of fossil fuels’ as some of the larger nations had pushed for a complete phase-out while others argued against it. The focus for the last two weeks of the summit has been on making progress on tackling climate change after months of record-breaking extreme weather.AU$1.00 is buying US$0.67, 95.39 Japanese Yen, 52.32 British Pence and NZ$1.07.Trading Ideas:Bell Potter has maintained a hold rating on Clean Seas Seafood (ASX:CSS) and has significantly reduced the price target on the integrated Kingfish producer after the company announced a material strategy pivot and associated recapitalisation of the balance sheet. The new strategy includes an approximate 800 tonne reduction in biomass, a consolidation of farming sites and a targeted reduction in fixed and variable costs.And Trading Central has identified a bearish signal on Chorus (ASX:CNU) following the formation of a pattern over a period of 30-days which is roughly the same amount of time the share price may fall from the close of $7.13 to the range of $6.15 to $6.35 according to standard principles of technical analysis.

Wall Street’s rally extended into Tuesday’s session with the key indices rising sharply in afternoon trade as the S&P500 added 0.46%, the Dow Jones rose 0.48%, and the tech-heavy Nasdaq had the biggest rise of 0.7%. The latest Consumer Price Index data is driving the rally today with the reading showing inflation in the US rose 3.1% in November YoY and 0.1% MoM which was in-line with economists’ expectations and continuing the deflationary trend, which provides support for the Fed to look toward interest rate cuts in the near future as the inflation rate is falling toward the target 2% inflation rate.The all-important Fed policy meeting also kicks off today ahead of the interest rate decision out tomorrow with the expectation that the Fed will maintain the current cash rate following the release of recent favourable economic data.Over in Europe, it was a lacklustre session across markets with majority closing slightly lower on Tuesday as investors responded to the latest CPI reading out of the US and other economic data released in the European region. The STOXX600 fell 0.23%, weighed down by the oil and gas sector sliding 1.28%, while Germany’s DAX closed just 0.02% lower, the French CAC fell 0.11% and, in the UK, the FTSE100 ended the day down just 0.03%.UK unemployment came in at 4.2%, a flat reading on September and below economists’ expectations in a sign the labour market in the UK remains tight.The ASX extended its December rally into Tuesday’s session with the ASX ending the day up 0.5%, as every sector closed in the green, led by the technology sector after the Nasdaq had a strong day on Wall Steet on Monday. Materials stocks closed flat as the iron ore price dipped on Tuesday.Australia’s business and consumer confidence data released yesterday came in at mixed readings with business confidence falling -9 points, well below the expected -1 point while consumer confidence rose 2.7% from a decline of 2.6% in November, in a sign consumers are optimistic over the recovering economic conditions.The story of the week so far has been the response to Sigma Healthcare accepting a transformative merger with Chemist Warehouse to bring the retail pharmacy to the ASX. Fund managers are bullish on the potential backdoor listing for Chemist Warehouse as the $8.8bn deal is awaiting approval from the competition regulator.What to watch today:On the commodities front this morning, oil has taken a dive overnight, with the spot price now down 3.84% to US$68.59/barrel amid concerns of oversupply despite OPEC+ announcing further output cuts to stabilise the price of the commodity. Gold is trading 0.2% lower at US$1977/ounce and iron ore is flat at US$137.50/tonne.AU$1.00 is buying US$0.66, 95.41 Japanese Yen, 52 British Pence and NZ$1.07.Ahead of the local trading session here in Australia the SPI futures are expecting the local market to open the midweek session flat despite Wall Street’s rally overnight.Trading Ideas:Bell Potter has initiated coverage of Pilbara Minerals (ASX:PLS) with a hold rating and a price target of $3.90. The hold rating follows recent lithium market weakness seeing heavy shorting in the PLS stock, however Bell Potter’s analyst sees this as short-sighted momentum and is confident that Pilbara’s low-cost producing and strong balance sheet sets it up to withstand weaker lithium prices and supports expansion programs. The analyst is also confident that EV-led demand will see strong medium to long-term lithium market fundamentals.And Trading Central has identified a bullish signal on GUD Holdings (ASX:GUD) following the formation of a pattern over a period of 36-days which is roughly the same amount of time the share price may rise from the close of $11.66 to the range of $12.60-$12.90 according to standard principles of technical analysis.

Wall St traded mostly flat on Monday before rallying in afternoon trade to close higher across the key indices as investors remain optimistic in the final trading weeks of 2023. Investors are looking ahead this week to the all-important Fed policy meeting and inflation data in the region which could see markets respond accordingly later in the week. The S&P500 closed 0.4% higher, the Nasdaq added 0.2% and the Dow Jones advanced 0.43%. Macy’s shares rallied over 20% on Monday after the retailer received a takeover offer worth US$5.8bn while tech stocks pulled back to close the session lower.Over in Europe, markets in the region closed mostly higher on Monday as investors look ahead to the upcoming US FOMC meeting this week to determine the rate outlook for the world’s largest economy heading into 2024. Miners in the region weighed on the market while the European Blue-Chip index or the STOXX600 rose 0.4%. Germany’s DAX rose 0.21% on Monday, and the French CAC added 0.33%, but in the UK, the FTSE100 fell 0.13% at the session’s end.Locally yesterday, the ASX200 rose just 0.06% as strong gains among energy stocks offset losses for materials, utilities and technology stocks. The gold miners took a hit yesterday amid the price of the precious commodity dipping below US$2000 during the trading session, with analysts blaming the strong jobs data out of the US last week as the catalyst for the decline in the price of gold. Iron ore miners on the other hand enjoyed a rally on Monday as the price of the commodity rose, attributed to China’s restocking demand for steel mills in the region.Sigma Healthcare (ASX:SIG) was the story of the day yesterday after the company agreed to a ‘transformational merger’ with Chemist Warehouse to bring the leading retail pharmacy brand to the ASX through the creation of an $8.8bn retail giant. Shares in Sigma Healthcare remain in a trading halt but last traded at 76.25cps. Concerns over Star Entertainment Group (ASX:SGR) ’s ability to operate its Sydney-based casino sparked a further sell-off in the stock yesterday with shares closing the day down 8.7%, while Costa Group lost almost 4% yesterday after announcing earnings in CY23 would come in below that of 2022.What to watch today:Ahead of the local trading session here in Australia, the SPI futures are anticipating the ASX to open Tuesday’s session up 0.18% taking lead from Wall Street’s rally overnight.On the economic calendar today, Australia’s consumer and business confidence data will be released for December and November respectively with the expectation of a slight lift in both amid improving outlook for business conditions.On the commodities front this morning, oil is trading just 0.08% higher at US$71.29/barrel, gold is down 1.09% at US$1981.46/ounce and iron ore is up 1.1% at US$137.50/tonne.1 Aussie dollar is buying US$.066, 96 Japanese Yen, 52.29 British Pence and NZ$1.07.Trading Ideas: Bell Potter has maintained a sell rating on Platinum Asset Management (ASX:PTM) and a price target of 84cps following the company’s announcement of appointing Jeff Peters as its new CEO. The appointment of Mr Peters may signal a new dawn for the company, however, there remains challenges with declining funds under management and revenues, in addition to an increasing cost base.And Bell Potter has increased the 12-month price target on Alligator Energy (ASX:AGE) from 8cps to 10cps and maintain a speculative buy rating on the uranium miner following the release of an updated Mineral Resource Estimate for the Blackbush Deposit including an increase of 21%.

Wall Street ended Friday’s session in positive territory across the key indices with the S&P500 closing at the highest level for the year, after favourable economic data enhanced signals of a soft landing in the U.S. over a recession. The S&P500 rose 0.41%, the tech-heavy Nasdaq added 0.45%, and the Dow Jones lifted 0.36% on Friday, and for the week the key indices each posted gains under 1% to end a 6th straight winning streak higher.November jobs data out late last week indicated the US economy added 199,000 jobs for the month which beat economists’ expectations, while the November unemployment rate dipped to 3.7% from 3.9% in October; which also topped expectations of a hold at 3.9%. This data indicates the US economy remains resilient and robust against inflation easing in the higher interest rate environment. Consumer sentiment and inflation expectations also showed positive signs in that sentiment hit the highest level since July in the latest reading while inflation expectations continue to ease.Over in Europe, markets also closed higher on Friday as investors in the region responded to favourable jobs data out of the U.S. and welcomed the resilience in jobs as a sign that the world’s largest economy could avoid recession. The STOXX600 rose 0.7% as travel and leisure stocks rose 1.5%, while Germany’s DAX added 0.78%, the French CAC rose 1.32% and, in the UK, the FTSE100 lifted just over half a percent.Locally on Friday, the ASX200 rose 0.3% boosted by the energy sector recovering from recent lows to close the day 1.04% higher, while technology and utilities stocks were the only two sectors to end Friday’s session in the red.The story of the session on Friday drove Santos to a 6.2% rise after the energy giant hit headlines for a proposed merger with fellow energy giant Woodside to create a $52bn energy powerhouse.What to watch today:Ahead of the local trading session here in Australia the SPI futures are expecting the local market to open Monday’s trading session 0.22% higher to start the new trading week in the green and extend the Santa rally we have seen this month so far.On the commodities front this morning, oil has recovered to trade 2.73% higher at US$71.23/barrel, gold is down 1.18% at US$2004/ounce and iron ore is up 1.87% at US$136/tonne.AU$1.00 is buying US$0.66, 95.35 Japanese Yen, 52.43 British Pence and NZ$1.07.Trading Ideas:Bell Potter maintains a speculative buy rating on Chalice Mining (ASX:CHN) and a 12-month price target of $5.40 following the release of recent results from the ongoing drill programs at its 100%-owned Gonneville Nickel Copper PGE project in WA, with the results showing extensions of high-grade zones to the north-west of the deposit. Chalice also announced that all key approvals have been received to allow commencement of the next phase of exploration drilling across the full >30km strike length of the interpreted Julimar Complex.And Trading Central has identified a bullish signal on Sonic Healthcare (ASX:SHL) following the formation of a pattern over a period 53-days which is roughly the same amount of time the share price may rise from the close of $31.10 to the range of $32.70 to $33.10 according to standard principles of technical analysis.

The ASX200 advanced 1.42% this week (Mon - Thurs), with real estate and information technology in the lead. The rally came after the RBA announced it's holding the cash rate at 4.35%. Most industry sectors posted strong gains, apart from energy and utilities.As the festive season and new year approach, let's consider Bell Potter's latest outlook and stock picks, across three industry sectors - fast moving consumer goods or FMCG, technology and real estate.In this week’s wrap, Sophia covers:(0:30) buying opportunities in the FMCG industry(1:36) Bell Potter's recommendations in the tech sector for 2024(2:44) real estate stocks to consider(4:52) the best & worst performing stocks on the ASX200(5:48) the most traded stocks by Bell Direct clients this week(6:28) economic data to watch out for next week.

Wall St closed in the green overnight as investors await jobs data results, set to be released on Friday. The S&P 500 rose for the first time in four days, up 0.80%, the Dow Jones, finished the day 0.17% higher and the tech-heavy Nasdaq rose 1.37%.Over in Europe, markets closed lower as the STOXX600 fell 0.3% with the majority of the sectors ending Thursday’s session in the red with retail stocks leading losses, down 1.1%. Germany’s DAX lost 0.26%, the French CAC lost 0.1% and over in the UK, the FTSE100 closed slightly lower by 0.02%. Airline group Air France-KLM closed 3.1% lower, with JPMorgan analysts cutting the stock to underweight from overweight.Locally yesterday, the ASX200 closed 0.07% lower with losses lead by the consumer discretionary and health sectors which lost 0.53% and 0.46% respectively. This was slightly offset by the utilities sector which gained 0.84% by market close yesterday.What to watch today:The Australian share market it set to open lower, with the SPI futures suggesting a fall of 0.13% at market open this morning.In terms economic data today, US unemployment rate data will be released tonight at 11:30pm with the consensus and forecast holding at 3.9%, the same as its previous result.On the commodities front this morning,Oil is trading 0.60% higher at 69 US dollars and 80 cents a barrel, gold is up 0.21% to 2029 US dollars an ounce and iron ore is trading 1.14% higher at 133 US dollars and 50 cents a tonne.Trading Ideas:Bell Potter maintains a buy rating on Perpetual Ltd (ASX:PPT) and has an unchanged 12-month price target of $27.09. Bell Potter have been highlighting the undervaluation of Perpetual for a while and only recently, Washington H. Soul Pattinson have made a non-binding indicative proposal to acquiree PPT in scrip. This would acquire 100% of Perpetual, with Perpetual Asset Management being demerged and returned to PPT shareholders. Bell Potter would be surprised if further bids for Perpetual did not appear.And Trading Central has identified a bullish signal on Australian Clinical Labs (ASX:ACL), indicating that the stock price may rise from the close of $2.77 to the range of $3.00-$3.06, on a pattern formed over 27 days, according to the standard principles of technical analysis.

US markets declined as investors assess data indicating falling inflation, while awaiting the latest employment report. The Dow Jones fell for the third consecutive session, down 74 points or 0.2%, while the S&P500 and the Nasdaq fell 0.4% and 0.5% respectively. European markets closed higher, rebounding from mixed trade earlier in the week. Germany’s DAX extended gains to a record high. The STOXX 600 rose 0.6% by the close, with mining stocks turnaround sharply. What to watch today:The Australian share market is set to open lower this morning, with the SPI futures suggesting a drop of 0.39% at the open. In commodities, The price of oil has fallen, currently trading more than 4% lower at US$69 per barrel at the time of recording. It’s the lowest level since early July, due to demand worries and increased supply. The US Energy Information Administration reported that gasoline inventories in the US were up by 5.4 million barrels in the week ending December 1st, which is the largest increase in nine weeks and well above forecast of 1 million. This implies weaker demand and has seen the price of crude oil sharply drop, so keep watch of energy producers today such as Santos (ASX:STO) or Beach Energy (ASX:BPT). In addition, concerns on the economic outlook of China also appear to be weighing heavily on crude prices. Meanwhile, gold and iron ore prices are in the green. In economic data today, Balance of Trade data for October will be out today. Australia’s trade surplus on goods declined to a 30-month low in September, as exports fell while imports surged. October’s data will be out at 11:30am this morning AEDT. Trading Ideas:Bell Potter maintains a Buy rating on Aeris Resources (ASX:AIS), a multi-mine copper-gold production and exploration company. The company has undertaken a fully underwritten $30 million equity raising, via a $13.9 million institutional placement, and a $16.1 million pro-rata, accelerated non-renounceable entitlement offer, which will result in the issue of 273 million new shares at an offer price of $0.11. Washington Soul Pattinson is a major shareholder who are supportive of the raise. Bell Potter have lowered their price target from $0.30 to $0.23, and at the current share price of $0.11, this implies 109% share price growth in a year. And Bell Potter have lowered their rating on Neuren Pharmaceuticals (ASX:NEU) from a Buy to a Hold, with no changes to their forecast or price target. Neuren is a drug development company and Bell Potter say that the clear upcoming catalyst is the Phase 2 trial for PMS. Their price target remains unchanged at $17.50 and at the current share price of $16.05, this implies 9% share price growth in a year. 

Wall St closed mixed overnight as favourable economic data coming out of the US, shows further signs of inflation cooling, with job openings data declining 6.6% in October, indicating that the US labour market is cooling. The Dow Jones and the S&P 500 both lost 0.2% and 0.06% respectively, meanwhile the tech-heavy Nasdaq gained 0.31% overnight.In Europe overnight, markets were mixed in the region as investors digested some key economic data and took a breather to assess valuations given the recent stock market rallies both in the European region and on global markets. UK households appear to have delayed Christmas spending this year as retail sales data in the region showed very muted growth of 2.7% in November which is much lower than the 4.2% growth recorded in November 2022, in a sign higher cost of living pressures are beginning to bite in the UK. The STOXX600 rose 0.4% on Tuesday, Germany’s DAX rose 0.78%, the French CAC added 0.74% and, in the UK, the FTSE100 fell 0.31%.Locally yesterday, the ASX200 closed 0.89% lower with the energy and material sectors losing 2.05% and 1.81% each respectively. This was slightly offset by the utilities sector which saw a rise of 0.55% by market close yesterday.What to watch today:The Australian share market is set to open higher, with the SPI futures suggesting a rise of 0.42% at market open this morningIn terms of economic data, yesterday the RBA announced the nations cash rate will be maintained at 4.35% in its last meeting for 2023.On the commodities front this morning, oil is down just 0.07% at 72 US dollars and 92 cents a barrel, gold is down 0.57% at 2018 US dollars an ounce and iron ore is down 1.13% at 131 US dollars and 50 cents a tonne.Trading Ideas:Bell Potter maintains a buy rating on Cyclopharm and has kept its 12-month price target steady at $4.25. The buy rating is maintained as Cyclopharm’s initial roll out of Technegas in the US is proceeding with Duke University signing a contract to use their product. Duke University is a tier 1 academic hospital, attached to the University’s medical school and further announcements regarding subsequent contract signings for the use of Technegas are expected in the short term. And Trading Central has identified a bullish signal in Sonic Healthcare, indicating that the stock price may rise from the close of $29.37 to the range of $31.20-$31.70, over a period of 44 days, according to the standard principles of technical analysis.

Wall Street opened the new trading week lower, retreating from the rally experienced on the NYSE over the last five weeks. The Dow Jones fell 0.11%, the S&P500 dropped 0.54%, and the Nasdaq took the biggest hit, falling 0.84%. The sectors that have carried Wall Street over the last 11 months took the biggest hit on Monday as investors digest the high valuations of big-name companies especially in the technology sector.Alaska Air fell 14.2% on Monday after it agreed to acquire rival airline, Hawaiian Airlines for US$1.9bn in a bid to expand Alaska Air’s presence to the West Coast of the US.Spotify shares rose 8.8% on Monday after the music streaming giant announced it would lay off 17% of its workforce, which equates to around 1500 jobs in a bit to cost cut in the high-cost environment.Over in Europe, markets closed mostly lower on to start the week as the big miners weighed on markets in the region, while gold miners bucked the trend with a rally on the back of the precious commodity hitting a record high US$2100/ounce. Analysts are predicting the price of gold will remain resilient into 2024 on outlook of a weaker USD, geopolitical uncertainty and the prospect of interest rate cuts on the horizon. The STOXX600 fell 0.1% on Monday, Germany’s DAX rose 0.04%, the French CAC fell 0.2% and, in the UK, the FTSE100 lost 0.22%.Locally yesterday, the ASX200 kicked off the new trading week on a very positive note with the key index ending the session up 0.73% buoyed by interest-rate sensitive sectors, with the tech sector rising 1.9%, while real estate added 1.55%. On the other end of the market, the utilities sector fell 2.52% while energy stocks lost 1.26% on the sliding price of oil.Chalice mining recovered 11.47% on Monday despite no price sensitive news out of the copper-nickel miner yesterday. Star Entertainment Group gained 6.86% on Monday while the lithium miners came under pressure yesterday with Sayona Mining falling 9.68%, Core Lithium shedding 5.56% and Pilbara Minerals ending the day down 2.22%.What to watch today:Ahead of the local session here in Australia the SPI futures are expecting the ASX to open Tuesday’s session down 0.53%, taking lead from Wall Street overnight.Taking a look at commodities this morning, oil continues to decline despite OPEC+ announcing production cuts of 2.2 million barrels per day in a bid to stabilise the price of oil, which is trading 1.07% lower at US$73.28/barrel. Gold is down 2% this morning at US$2029/ounce and iron ore is up 0.4% at US$133/tonne.On the economic calendar today the highly anticipated RBA interest rate decision is announced today with the expectation of the interest rate to be maintained at the current 4.35%.Stocks trading ex-dividend today include Fisher & Paykel Healthcare Corporation and Dalrymple Bay Infrastructure. If you’ve been thinking about these stocks, it might be worth considering buying in today as stocks trading ex-dividend, generally trade lower on the ex-dividend date.Trading Ideas:And Bell Potter has maintained a speculative buy rating on Deep Yellow (ASX:DYL) and a 12-month price target of $1.81 after the uranium miner added an additional approximately 1.5 years of production to the Tumas project, with the expanded indicated and inferred resources. Looking into CY24, some key catalysts include a Final Investment Decision on Tumas, refreshed capital and operating costs for Tumas, and Mulga Rock updated definitive feasibility study.And Bell Potter has slightly increased the price target on Genusplus Group (ASX:GNP) from $1.40 to $1.50 and maintain a buy rating on the mining services provider following the Genusplus and its JV partner ACCOINA being awarded a $1.4bn design and construction contract for the HumeLink East project by Transgrid.

Wall St rallied on Friday to close the week off strongly. The Dow Jones ended the trading week in the green up 0.82% with the S&P 500 and the tech-heavy Nasdaq both rising by 0.59% and 0.55% respectively.Europe closed higher on Friday following a global rally in stocks and bonds. The STOXX600 ended the trading session up 1%, with mining stocks leading gains, up 4.2% after China’s manufacturing sector recording an unexpected expansion. Germany’s DAX rose 1.12%, the French CAC gained 0.48% and over in the UK, the FTSE100 ended the trading day just over 1% in the green.Locally on Friday, the ASX200 closed 0.20% lower to end the trading week. Losses were led by the information technology and consumer staples sectors which lost 1.08% and 0.84% respectively. This was slightly offset by the energy sector which rose 0.12% on Friday.What to watch today:The Australian market is set to open higher, with the SPI futures suggesting a rise of 0.92% at the open this morning.On the commodities front today,Oil is down 2.49% to US$74.07/barrel as Saudi Arabia is expected to extend its voluntary cut of 1 million barrels a day. Gold is up 1.78% to US$2071.96/ounce and iron ore is down 0.75% to US$132.50/tonne. Trading Ideas:Bell Potter maintains a buy rating on Develop Global (ASX:DVP) and has kept its 12-month price target steady at $4.30. The buy rating is maintained following the forthcoming restart of Woodlawn operations coinciding with growing revenue generation in the company’s underground mining services business. DVP was also awarded a $46 million underground development contract by the Mt Marion joint venture to establish and develop an exploration decline at the Mt Marion lithium mine in Western Australia.And Trading Central has identified a bearish signal in Omni Bridgeway (ASX:OBL), indicating that the stock price may fall from the close of $1.47 to the range of $0.92-$1.02 on a pattern formed over 24 days, according to the standard principles of technical analysis.

The final month of 2023 is here and it’s time to look back at how some of the key ASX sectors performed this year so far. Some sectors like staples and discretionary stocks have surprised the market for respective reasons, while healthcare has underperformed which opens some investment opportunities heading into 2024.Key strategic moves from companies included capital structure restructuring and inventory reduction which helped boost the share prices of some retailers, while a slowing growth outlook is hurting some key tech names as we motor towards 2024.In this week’s wrap, Grady covers:(0:44) Why the technology sector soared in 2023.(2:15) Headwinds facing some consumer staples stocks.(3:22) Discretionary stocks that surprised the market in 2023.(4:34) Financials pulling back late this year.(4:52) Energy and geopolitical tensions & output fluctuations.(6:51) The most traded stocks by Bell Direct clients this week.(7:22) RBA rate decision & US jobs data out next week.Read the transcript here.

Wall Street closed mixed overnight with the Dow Jones rallying to a new high for the year, ending the session up 1.47%. The S&P 500 rose 0.38%, but the tech-heavy Nasdaq fell 0.23% overnight as investors took some profits in Big Tech stocks that led the November comeback rally. In terms of US stocks, Salesforce jumped 8.6% on the back of better-than-expected earnings and revenue in the fiscal third quarter.Over in Europe, markets closed higher to end the best month since January. The STOXX600 closed 0.5% higher, Germany’s DAX ended the trading day up 0.30%, the French CAC closed 0.59% higher and over in the UK the FTSE 100 rose 0.41%.Locally yesterday, the ASX200 closed Thursday 0.74% higher led by gains in the industrial and information technology sectors of 1.43% and 1.29% respectively. This was slightly offset by the utilities sector which ended Thursday’s session 0.95% in the red.What to watch today:The Australian share market is set to open lower, with the SPI futures suggesting a fall of 0.27% at the open this morning on the back of Wall Street’s mixed session overnight.On the commodities front this morning,Oil is down 2.71% to US$75.73 a barrel with Brazil announcing a plan to increase its output to 3.8 million barrels a day, raising concerns of oversupply. Gold is down 0.45% to US$2,035 an ounce. Iron ore is down 0.74% to US$133.50 a tonne.Trading Ideas: Bell Potter maintains a buy rating on DroneShield (ASX:DRO) and has increased the 12-month price target on the defence technology company to $0.50. The buy rating is maintained by Bell Potter as DroneShield has significantly increased the scale of their operations, and revenue forecasts have increased by 21%, 27% and 25% in CY24, CY25 and CY26, leading to the analyst maintaining a buy rating on the company.And Trading Central has identified a bullish signal in Regis Resources (ASX:RRL), indicating that the stock price may rise from the close of $1.95 to the range of $2.16-$2.22 on a pattern formed over 77 days, according to the standard principles of technical analysis.

US equities closed near the flat line, with the Dow Jones just 0.04% higher, while the S&P 500 was 0.09% lower and the Nasdaq down 0.16% lower.European major benchmarks closed higher, as regional markets regained momentum. The STOXX 600 closed 0.43% higher, with auto stocks up the most. Germany’s DAX maintained gains following German inflation figures being released during afternoon trading, slowing to 2.3% in November. The DAX is now at its highest level since the beginning of August. France’s CAC also closed in the green, while the FTSE 100 closed lower.What to watch today:The Australian market is set to open slightly higher, with the SPI futures suggesting a 0.1% rise at the open this morning.In commodities,Crude oil has jumped 1.65%, nearing US$78 per barrel, ahead of the OPEC+ meeting today, where the group will set its production policy for 2024. OPEC+ are considering new oil production cuts of as much as 1 million barrels a day.Meanwhile, the price of gold has rallied, hitting its highest levels in nearly seven months, off the back of a sharp decline in the US dollar. So, keep watch of ASX- listed gold miners.And iron ore is lower, trading at US$133.50 per tonne.In economic data, private sector credit data and building permit data will be out today. We’ll also be awaiting eurozone inflation for October out tonight.And there’s a list of companies holding their AGMs today. These include Imugene (ASX:IMU), Lake Resources (ASX:LKE), Liontown Resources (ASX:LTR) and Sayona Mining (ASX:SYA).And stocks going ex-dividend today include Aristocrat Leisure (ASX:ALL) and Technology One (ASX:TNE).Trading Ideas:Bell Potter maintains a Buy rating on EROAD (ASX:ERD) and have increased their price target by 6% to $0.95. At the stock’s current share price of $0.76, this implies 25% share price growth in a year.And Trading Central have identified a bullish signal on Magellan Financial Group (ASX:MFG), indicating that the stock price may rise from the close of $7.43 to the range of $8.40 to $8.60 over 38 days, according to the standard principles of technical analysis.

Wall Street resumed the November rally on Tuesday with stocks closing Tuesday’s session higher as comments from a Federal Reserve official boosted investor hopes that the central bank may not need to raise the interest rate any further. The Dow Jones rose 0.24%, the S&P500 added 0.1% and the tech-heavy Nasdaq rose 0.3%.US GDP Growth Rate for Q3 is out tonight and will give an indication of just how the US economy is coping during the high interest rate environment, with consensus expecting annualised growth of 5%, following a rise of 4.9% in the last reading, which provides further indication of a soft landing in the US over a recession.In Europe, markets closed mostly lower on Tuesday following the release of key economic data in the region. The STOXX600 ended Tuesday’s session in the red, while Germany’s DAX rose 0.16%, the French CAC fell 0.21% and, in the UK, the FTSE100 ended Tuesday’s session down 0.07%. Consumer sentiment data was released in Germany and France overnight indicating German consumers are slowly increasing their willingness to buy in recession-hit Germany however income expectations in the region have declined, while in France, the French consumer remains sluggish on outlook as indicated by consumer confidence data.Locally on Tuesday, the gold miners and real estate stocks boosted the ASX to a positive finish on Tuesday, with the key index ending the day up 0.4%. The energy sector weighed on the market yesterday as oil retreated for a third straight day amid delays to the upcoming OPEC+ meeting where it is expected the group of oil producing leaders will initiate further output cuts to stabilise oil prices.For the month so far, the ASX is tracking 2.8% higher buoyed by the real estate sector as investors begin to reconsider investments in the REIT space after a heavy sell-off in this rate sensitive sector throughout the first half of 2023.The retailers took a hit on Tuesday after Australian retail sales data for October showed a decline of 0.2% which wasn’t unexpected as Aussies saved money prior to the Black Friday and Cyber Monday sales periods. Economists were expecting a slight pullback in sales to a rise of 0.1% for October, however the result coming in at a 0.2% decline indicates just how hard Aussies are doing it in the high cost of living environment. We are expecting a rise in November sales though as Aussies snapped up bargains during the promotional sales weekend.What to watch today:Ahead of the local trading session here in Australia the SPI futures are expecting the ASX to open the midweek trading session up 0.28%.On the commodities front this morning, oil is trading 2.57% higher at US$76.78/barrel, gold is up 1.36% at US$2041/ounce and iron ore is down 0.74% at US$134.50/tonne.AU$1.00 is buying US$0.66, 98.16 Japanese Yen, 52.34 British Pence and NZ$1.08.Trading Ideas:Bell Potter has increased the rating on IDP Education (ASX:IEL) from a hold to a buy and increased the price target from $26.70 to $27 following the release of recent student visa data from key source markets including India, China, Vietnam, Australia, Nigeria and Thailand into key destination countries of Australia, the UK and Canada. While 1H24 is typically seasonally weaker in Australia, levels came in slightly above pre-pandemic levels and the Northern Hemisphere data was encouraging particularly for Canada which is a key market IDP operates in.And Trading Central has identified a bullish signal on Northern Star Resources (ASX:NST) following the formation of a pattern over a period of 40-days which is roughly the same amount of time the share price may rise from the close of $12.14 to the range of $14.20 to $14.70 according to standard principles of technical analysis.

Wall St closed lower to open the new trading week in the red. The Dow Jones ended Monday’s session down 0.16%, the S&P 500 closed 0.2% lower and the tech-heavy Nasdaq fell 0.07%.In terms of US stocks, e-commerce shares jumped on Cyber Monday with Amazon and Shopify jumping 1.1% and 4.5% respectively.Over in Europe, markets closed lower overnight with the STOXX600 closing down 0.3% as oil and gas stocks traded flat, while travel stocks fell 0.8%. Germany’s DAX fell 0.39% while the French CAC and the UK’s FTSE100 both ended the day 0.37% in the red.Locally yesterday, the ASX200 closed 0.75% lower with all but the information technology sector finishing in the session in negative territory. Losses were led by the consumers discretionary and real estate sectors which lost 1.26% and 1.34% respectively.What to watch locally today:The Australian share market is set to open higher, with the SPI futures suggesting a rise of 0.16% at market open this morning.On the commodities front this morning,Oil is trading down 0.87% to 74 US dollars and 88 cents a barrel with focus on the upcoming OPEC+ meeting where Saudi Arabia and Russia are expected to prolong voluntary supply cuts until at least the first quarter of 2024.Gold is up just over half a percent to 2013 US dollars and 29 cents an ounce and iron ore is down 0.37% to 135 US dollars and 50 cents a tonne.Trading Ideas:Bell Potter maintains a buy rating on Smartpay Holdings (ASX:SMP) despite lowering its price target to $1.75. The price target was reduced as the underlying EBITDA in the first half of 2024 fell modestly below the forecast. However, the buy rating is still maintained as the positive view on SMP is underpinned by system growth in digital payments and early expansion in the Australian market.And Trading Central has identified a bullish signal on Ramelius Resources (ASX:RMS), indicating that the stock price may rise from the close of $1.58 to the range of $1.74-$1.78 on a pattern formed over 15 days, according to the standard principles of technical analysis.

Wall Street rose for a fourth straight week last week across the three key indices despite a mixed session on Friday. The Dow Jones rose 0.33%, and the S&P500 added 0.06%, but the tech-heavy Nasdaq fell 0.11%. Chip maker Nvidia weighed on the Nasdaq on Friday as shares in the company fell 1.7% after Reuters reported Nvidia told its Chinese clients that it will delay a new artificial intelligence chip designed to comply with U.S. export restrictions, until next year. Declining bond yields are a driving factor behind the four week Wall Street rally as investors come to terms with the idea that the equity market in the US can handle interest rates between 4-5%.Black Friday and cyber Monday sales periods kicked off over the weekend in the US which sent shares in Walmart, Amazon and target higher on Friday.Over in Europe, markets in the region also closed higher on Friday as fresh economic data in the region boosted investor sentiment that inflation is continuing to cool.  Final German GDP figures for Q3 released on Friday confirmed contraction of 0.1% which is down 0.8% on the PCP. The STOXX600 rose 0.4% higher on Friday while Germany’s DAX added 0.22%, the French CAC rose 0.2% and, in the UK, the FTSE100 ended the day up 0.06%.Locally on Friday, the ASX200 rose 0.17%, driven by the utilities and energy sectors adding 1.55% and 1.27% respectively. Trading was lacklustre on Friday as Wall Street was closed on Thursday for the Thanksgiving day holiday. The energy sector rally was boosted on Friday by a rebound in the price of oil, while tech stocks weighed on the key index.In company news, Select Harvest tanked 10.5% after the agricultural company reported net losses deepened to $115m in FY23 from $4.8m in FY22 which led to the company’s final dividend being scrapped. Whitehaven Coal on the other hand rose 3.4% after the company’s $1bn  Winchester South coking coal mine was given a recommendation to proceed from the Queensland government’s Coordinator General.What to watch today:Ahead of the local trading session here in Australia, the SPI futures are expecting the local market to open the new trading week up 0.21%.On the commodities front this morning, oil has retreated again to trade 1.22% lower at US$76.16/barrel, gold is up half a percent at US$2001.60/ounce, iron ore is flat at US$136/tonne and uranium is up 8.45% at US$80.25/pound.AU$1.00 is buying US$0.66, 98.32 Japanese Yen, 52.23 British Pence and NZ$1.08.Trading Ideas:Bell Potter has maintained a buy rating on Clinuvel Pharmaceuticals (ASX:CUV) and a 12-month price target of $24 following the release of an update out of the pharmaceutical company’s competitor. Clinuvel currently has a monopoly position over the market for the treatment of EPP through the distribution of the drug Scenesse which is currently the only globally approved treatment for EPP. The most advanced competitor is Mitsubishi Tanabe which has recently initiated a Phase 3 trial which pushes back the potential approval until CY27 at the earliest, which indicates Clinuvel has monopoly over the market for at least another 3-4 years.And Bell Potter has increased the rating on Boss Energy (ASX:BOE) from a speculative hold to a speculative buy rating and maintain a $5.53/share 12-month price target on the uranium miner as the analyst sees an opportunity to buy the dip given the recent pullback in the share price and some key tailwinds mounting in the uranium market. Upcoming catalysts for Boss Energy include the signing of an offtake agreement ahead of first production in December or January, commencement of production with first drummed material in late January to early February 2024, and further momentum in uranium markets as more countries continue including nuclear power as a key part of their green energy transition strategies.

As we head into the Black Friday and Cyber Monday sales for 2023, this promotional period is arguably the most important for ASX-listed retailers. Firstly, they are able to heavily discount old stock to reduce inventory levels. Secondly, retailers gauge investor propensity for retail spend ahead of the busy holiday season, which is especially important as cost-of-living pressures continue to bite.While some retailers remain resilient despite slowing consumer spend, others have shifted focus in the slow sales environment to invest in AI for customer experience enhancement and to gain market share. We explore what the Black Friday and Cyber Monday sales will reveal for retailers as we close out 2023 and more!In this week’s wrap, Grady covers:(0:30) Why retail inventory levels are a key driver for investors,(0:45) Black Friday & Cyber Monday will reveal consumer sentiment,(1:28) Australia’s resilient retail spend as a key driver of inflation,(2:28) Lovisa (ASX:LOV) remaining a key retail pick for Bell Potter, why?(3:32) The best performing stocks on the ASX200 this week,(4:42) The most traded stocks by Bell Direct clients this week, and(5:16) Key economic data to watch next week.Read the transcript here

Wall St was closed overnight due to the Thanksgiving day holiday. Over in Europe, markets closed in the green with the STOXX600 ending the day 0.3% higher, led by oil and gas stocks rising 1.4%. Germany’s DAX closed 0.23% higher, the French CAC ended the trading day up 0.24% and over in the UK the FTSE100 closed Thursday’s session 0.19% in the green.The ASX extended its losing streak into Thursday’s session closing the day down 0.62%, taking no lead from Wall Street’s rally on Wednesday, as the materials and energy sectors weighed on the key index due to the sliding price of oil and iron ore. Oil’s decline was on the back of OPEC+ delaying its upcoming meeting where it was set to discuss further output cuts to stabilise the price of oil, which naturally caused a sell-off in oil producing stocks yesterday including Woodside and Santos.Origin Energy emerged from a trading halt yesterday to rally 1.2% after the company said it would extend its shareholders vote on the takeover offer to next month instead of today, following the investment group led by Brookfield announcing a revised takeover offer. The revised offer follows Australian Super which is a majority shareholder in Origin at 17.5%, saying it would vote no to the Brookfield led original offer on the grounds of value. The new offer is for a plan B option if majority of Origin’s shareholders do not vote in favour of the original offer of $9.43/share. The plan B offer is effectively a lower offer that the investment group will ‘come in and control the company’ for a lower price under an Alternative Transaction offer where shareholders will receive a cash consideration of up to $9.08 per share including dividends. It is a very interesting time for Origin Energy shareholders and the company’s takeover fate will be revealed on December 4th when the Scheme Meeting has been postponed to.Looking at economic data, Australia’s manufacturing PMI index decreased in November to 47.7 points from 48.2 points in October in a sign of the economic slowdown and confirming that the Australian economy is experiencing a soft landing as a result of interest rate rises to date.What to watch locally today:The Australian share market is set to open higher, with the SPI futures suggesting a rise of 0.2% at the open this morning.On the commodity front this morning, Oil is trading down 1.09% to US$76.26/barrel after signs of strong supply from non-OPEC countries, which has been weighing down oil prices.Gold is trading 0.15% higher to US$1992.62/ounce and iron ore is down 1.09% to US$136/tonne.Trading Ideas:Bell Potter maintains a buy rating on Propel Funeral Partners (ASX:PFP) with a 12-month price target of $5.70. The buy rating is maintained as it is expected that organic volume growth will return in the 2nd quarter of 2024 and mid-long term growth to be further supported by ageing baby boomers as the older cohorts reach average life expectancy.And Trading Central has identified a bearish signal on Pengana Private Equity (ASX:PCG) , indicating that the stock price may fall from the close of $1.58 to the range of $1.23-$1.25 on a pattern formed over 8 days, according to the standard principles of technical analysis. 

Wall St’s November rally reignited on Wednesday with the key indices closing the session higher ahead of the Thanksgiving Day holiday as a decline in bond yields boosted investor sentiment on an equities front, alongside investors remaining optimistic that the US cash rate will be maintained at the Fed’s December meeting. The Dow Jones rose 0.5%, the S&P500 added 0.4% and the tech-heavy Nasdaq rallied 0.5%.Over in Europe, markets closed mostly higher on Wednesday as investors digested the latest FOMC meeting minutes out in the U.S. alongside several fiscal announcements out of the U.K.The STOXX600 rose 0.3% buoyed by travel and leisure stocks while oil and gas stocks fell 1.7%. Germany’s DAX rose 0.36% on Wednesday, the French CAC added 0.43%, and, in the U.K., the FTSE100 fell 0.17%.U.K. finance minister Jeremy Hunt announced a tax cut impacting 27 million workers in addition to new and changes to existing measures including benefits programs, raising the minimum wage, investing in AI, business tax breaks and more. Despite these favourable measures, the U.K.’s FTSE100 closed lower on Wednesday.Locally on Wednesday, the ASX fell just 0.07%, taking lead from the US and European sell-off on Tuesday weighed down by rate-sensitive sectors as the REIT and tech-sectors fell 1.53% and 1.13% respectively at the closing bell of the midweek session.De Grey mining rose 4.8% after Bell Potter released a broker note responding to positive drill results out of the gold miner on Wednesday. Bell Potter retained its buy rating following positive results out of the company’s Hemi gold project.Lovisa shares also lifted 2% on Wednesday after the fashion jewellery company released a trading update at its AGM including overall sales up strongly, driven by the company’s strong global rollout strategy with the first store in China on the horizon soon.What to watch today:Ahead of the local trading session here in Australia, the SPI futures are anticipating the ASX to open Thursday’s session down 0.17% despite the overnight rally on Wall St.On the commodities front this morning, oil has dipped 1.45% to trade at US$76.65/barrel after OPEC+ delayed a meeting to further discuss production cuts to stabilise oil prices. Gold is down almost half a percent at US$1989/ounce and iron ore is up 0.73% at US$137.50/tonne.AU$1.00 is buying US$0.65, 97.86 Japanese Yen, 52.45 British Pence and NZ1.09.Trading Ideas:Bell Potter has reduced the 12-month price target on Brickworks (ASX:BKW) from $28.50 to $27.80 and maintain a buy rating on the leading industrial conglomerate following a 1st quarter trading update at the company’s AGM including the Building Products division in Australia and the US remaining resilient, and margin improvement across both regions. The reason for the target price decrease is due to Brickworks’ revised cap rate of 5.2% and the outlook for further devaluation to come among industrial properties Bell Potter covers.And Trading Central has identified a bearish signal on HelloWorld Travel (ASX:HLO) following the formation of a pattern over a period of 20-days which is roughly the same amount of time the share price may fall from the close of $2.44 to the range of $2.00 to $2.08 according to standard principles of technical analysis.

Over in the US today, the November equities rally took a pause with the key indices sliding on Tuesday following the release of some disappointing retail results and alongside the latest FOMC meeting minutes being released. The Dow Jones fell 0.18%, the S&P500 lost 0.2% and the tech-heavy Nasdaq shed 0.59%. Clothing retailers Lowe’s and American Eagle fell 2% and 16% respectively on Tuesday after both retailers reduced outlook for the remainder of FY23 in the tougher retail spend environment. Investors responded negatively to the release of the latest FOMC minutes as officials gave no indication of interest rate cuts on the horizon, despite inflation easing in the US alongside robust economic growth which supports the notion of a soft landing over a recession.The highly anticipated third-quarter results from leading chipmaker Nvidia were released just before 8am AEDT and investors appeared unimpressed with what they saw as shares fell almost 1% at the closing bell on Wall St. Despite reporting revenue and earnings that beat consensus, the company warned that they expect sales to destinations like China to decline significantly in Q4 due to export restrictions on the region.And in Europe, markets closed mostly lower on Tuesday as investors await the release of final third-quarter results and ahead of the FOMC meeting minutes released in the US. The STOXX600 fell 0.1%, Germany’s DAX lost 0.01%, the French CAC fell 0.24%, and, in the UK, the FTSE100 shed 0.2%.The Aussie market rally extended into Tuesday’s session with the ASX adding 0.28% at the closing bell, as news of further stimulus in China boosted the price of iron ore and subsequently the big miners surged in afternoon trade. The new stimulus to boost the world’s second largest economy out of deflationary territory, is through Beijing increasing budget spending to support post-pandemic recovery efforts. China is set to deploy a host of local and central government bonds which will push Beijing’s budget deficit up to a 2-decade high. The Chinese treasury also maintained its benchmark lending rates at a monthly fixing meeting on Monday.The latest RBA meeting minutes were also released yesterday with a more cautious outlook on the future of rate hikes down under. The minutes noted that underlying inflation was more persistent than expected and the risk of not achieving the 2-3% target range by the end of 2025 had increased.What to watch today:Ahead of the midweek trading session here in Australia, the SPI futures are expecting the ASX to open just 0.08% lower following the sell-off on Wall St overnight.On the commodities front this morning, oil is trading 0.34% lower at US$77.54/barrel despite speculation that OPEC+ will intervene again with further output cuts to bolster oil prices, gold is up 1.16% at US$2000/ounce and iron ore is up 1.5% at US$136.50/tonne.Trading Ideas:Bell Potter has decreased the 12-month price target on Volpara Health Technology (ASX:VHT) from $1.20 to $0.85 and maintain a buy rating on the MedTech company focused on the early detection of breast cancer, following the release of the company’s first half results. Despite revenue increasing by 17%, this growth rate in revenue more than halved relative to the PCP. Bell Potter’s analyst believes slower than anticipated customer implementations are to be expected in the coming financial years as many clients acquired in the MRS acquisition of 2020 remain on the legacy product rather than upgrading.And Trading Central has identified a bullish signal on Patriot Battery Metals (ASX:PMT) following the formation of a pattern over a period of 17-days which is roughly the same amount of time the share price may rise from the close of $1.05 to the range of $1.30 to $1.36 according to standard principles of technical analysis.

Wall Street started the shorter trading week strongly, finishing higher by market close on Monday. The Dow Jones jumped 0.58%, the S&P 500 closed 0.74% higher and the tech-heavy Nasdaq ended Monday 1.13% in the green. Markets remain in rally mode post the release of softer-than-expected inflation data out of the world’s largest economy last week. The tech-driven rally on Monday was led by Microsoft lifting 2%, following the announcement of former OpenAI chief Sam Altman, joining to lead a new research team. Chipmaker, Nvidia also added 2.3% before its earnings report release on Tuesday afternoon.Over in Europe, markets closed marginally higher as the release of third quarter earnings starts to slow. The STOXX600 closed 0.1% higher, led by oil and gas stocks up 1.3%. Germany’s DAX fell 0.11%, the French CAC gained 0.18% and over in the UK the FTSE 100 ended the day 0.11% in the red.Locally yesterday, the ASX200 closed 0.12% higher, led by gains in the energy and consumer discretionary sectors of 1.33% and 0.64% respectively. This was slightly offset by losses in the consumer staples sector of 0.83%What to watch today:The Australian share market is set to open higher, with the SPI futures suggesting a rise of 0.37% at the open this morning.In terms of economic data today, at 10:30am this morning, the RBA minutes meeting will be released following the rise in the cash rate to 4.35%.On the commodities front this morning,Oil is up 2.26% to US$77.75 with surging crude oil inventories in the US and Russia recently lifting a ban on gasoline exports. Gold is down 0.1% to US$1,977 an ounce and iron ore is up 1.51% to US$134.50 a tonne.Trading Ideas:Bell Potter maintains a buy rating on Accent Group (ASX:AX1), despite lowering the price target by $0.15 to $2.35. The slight decrease in the 12-month price target follows the leading athleisure retail company releasing a trading update for the first 19-weeks of FY24 including group owned sales and gross margins remaining broadly flat on the prior corresponding period. The buy rating is maintained though as Accent Group is Bell Potter’s preferred retail sector stock given its scale and exposure in terms of channels, brands and size. Trading Central has identified a bearish signal in Lifestyle Communities (ASX:LIC), indicating that the stock price may fall from the close of $17.37 to the range of $14.40 to $14.90, over a period of 15 days, according to the standard principles of technical analysis.

Wall Street closed higher on Friday, extending on the November rally among equities in the US with each of the key indices posting a gain for a third straight week. The rally on Friday extended from the prior sessions on the back of softer-than-expected inflation data being released, boosting investor hopes that further rate hikes will be off the table. The Dow Jones added 0.01% on Friday while the S&P500 rose 0.13% and the tech-heavy Nasdaq added 0.08%.Shares in clothing retailer Gap soared 30% on Friday, a day after the company posted better-than-expected results for the third quarter. While on the other end of the market, EV charging network ChargePoint tanked 35% after the company announced a change up to its product suite and cut forecast for third-quarter revenue.Over in Europe, markets closed higher on Friday following the release of eurozone inflation data indicating a sharp slowdown, with October’s YoY inflation reading coming in at 2.9% compared to 4.3% in September. The STOXX600 rose 1%, Germany’s DAX added 0.84%, the French CAC added 0.91%, and, in the UK, the FTSE100 rose 1.26% boosted by a 0.3% decline in retail sales figures to the lowest level since early 2021.Locally on Friday, the ASX200 fell 0.13% as a sharp decline in the price of oil sparked a sell-off in energy stocks, with the sector ending the day down 1.6%. Industrials and tech stocks offset some of the session’s heavy losses with 0.45% and 0.43% gains respectively.Gold miners rallied on Friday on a rise in the price of the precious commodity, with Northern Star Resources, Evolution Mining and Bellevue Gold each rising over 3%.Telix Pharmaceuticals and NextGen Energy were two beneficiaries of the Sohn Hearts & Minds Conference last week after industry experts said the healthcare stock and uranium stock were undervalued and the top stock pick, respectively at the conference.What to watch today:Ahead of the local trading session here in Australia the SPI futures are expecting the local market to open the new trading week 0.4% higher.On the commodities front this morning, oil has rebounded to trade 4.1% higher at US$75.89/barrel, gold is down 0.04% at US$1980.01/ounce and iron ore is down 0.38% at US$132.50/tonne.1 Aussie dollar is buying 65 US cents, 97.40 Japanese Yen, 52 British Pence and 1 New Zealand dollar and 9 cents.Stocks trading ex-dividend today include Silk Laser Australia and Tamawood. If you’ve been thinking about these stocks, it might be worth considering buying in today as stocks trading ex-dividend generally trade lower on the ex-dividend date.Trading Ideas:Bell Potter has increased the 12-month price target on GrainCorp (ASX:GNC) from $9.45 to $9.55 and maintain a buy rating on the leading Australian grain facilitation company following the release of the company’s FY23 results including underlying NPAT slightly above Bell Potter expectations at $268.9m, revenue up 5% to $8.23bn which topped Bell Potter expectations and lease adjusted operating cash inflow of $534.6m, which is above the inflow of $407.1m in FY22.And Trading Central has identified a bullish signal on ClearView Wealth (ASX:CVW) following the formation of a pattern over a period of 278 days which is roughly the same amount of time the share price may rise from the close of $0.58 to the range of $0.69 to $0.71 according to standard principles of technical analysis.

Our Market Analyst, Grady Wulff, sat down with executives from some of the top resource companies on the ASX. Hear from the helm of these companies, on their outlook and operations and discover some hidden investing gems heading into 2024.  In this week's wrap, Grady covers: (0:39) Australian Rare Earths' (ASX:AR3) latest drilling campaign(1:35) why Spartan Resources (ASX:SPR) entered a trading halt(2:22) 92 Energy's (ASX:92E) outlook for uranium(3:15) Kingsland Minerals' (ASX:KNG) role in the green energy transition(4:14) Patriot Battery Metals' (ASX:PMT) Covette Project exploration.

Wall St closed mixed overnight as the Dow Jones ended a four-day winning streak, down by 0.13%. The S&P 500 and the tech-heavy Nasdaq both finished marginally higher, up 0.12% and 0.07% respectively.In terms of US shares, Walmart dropped more than 7% after the company offered weak guidance for the current quarter. And Palo Alto Networks also lost 6% after issuing a poor forecast on billings.Over in Europe, markets closed lower following a reduction in positive sentiment. The STOXX600 closed 0.7% lower, with most sectors ending the trading session in the red. Losses were led by oil and gas stocks with a 2.7% loss following weaker oil prices. Germany’s DAX gained 0.24% overnight, the French CAC dropped 0.57% and over in the UK the FTSE100 ended the day just over 1% in the red.Locally yesterday, the ASX200 closed Thursday’s session down 0.67% with the energy and information technology sectors leading losses by 1.19% and 1.02% respectively. This was slightly offset by the utilities sector which saw a 0.59% increase by close of market yesterday.What to watch today:The Australian share market is set to open lower, with the SPI futures suggesting a fall of 0.1% at market open this morning.On the commodities front,Oil is down 5.03% to US$82.72/barrel following lower demand and eased concerns of scarce supply. Gold is up 1.14% to US$1981/ounce and iron ore is trading flat at US$133/tonne.Trading Ideas:Bell Potter has maintained a buy rating on Australian Agricultural Company (ASX:AAC) and has increased its price target by $0.05 to $1.90. The buy rating is maintained as AAC continues to demonstrate growth in through the cycle returns as the revenue shifts from cattle to meat.And Trading Central has identified a bullish signal on Myer Holdings (ASX:MYR), indicting that the stock price may rise form the close of $0.54 to the range of $0.59-$0.61, on a pattern formed over 42 days, according to the standard principles of technical analysis.

Wall St closed the trading session higher, following the release of promising inflation data. The S&P 500 rose 0.16%, the tech-heavy Nasdaq gained 0.07% and the Dow Jones traded 0.47% higher on Wednesday.The US treasury yield increased by 9 basis points, following its 18-basis point fall on Tuesday.In terms of US shares, following the release of better-than-expected results, Target’s share price increased by 18% with apparel company VF also adding 15%.Over in Europe, markets closed higher overnight following the release of key data from China and the US. The STOXX600 rose 0.4%, led by technology stocks which gained 2.2% with the majority of other sectors ending the trading day in the green. Germany’s DAX added 0.86%, the French CAC ended the day 0.33% higher and over in the UK, the FTSE100 went up 0.62%.Locally yesterday, the ASX200 ended the trading day up 1.42% with all but the energy sector ending positive. The biggest gains were made by the real estate and information technology sector which ended the day 4.58% and 3.35% higher respectively.What to watch today:The Australian share market is set to open lower, with the SPI futures suggesting a fall of 0.11% at the open this morning.In terms of economic data, At 10:30 this morning Australian unemployment data is set to be released with a consensus of a 0.1% increase from its previous result of 3.6%.On the commodities front, Oil is down 2.37% to US$76.41/barrel,Gold is down 0.09% to US$1961/ounceAnd iron ore is up 1.92% to US$133/tonne.Trading Ideas:Bell Potter maintains a buy rating on Life360 (ASX:360) and has increased its 12-month price target by $0.25. The buy rating is maintained by Bell Potter as positive results in Q3 have helped increase the price target to $11.25, which is a greater than 15% premium to the previous share price, hence the buy rating is maintained.And Trading Central has identified a bullish signal on Evolution mining (ASX:EVN), indicating that the stock price may rise form the close of $3.78 to the range of $4.35-$4.50 on a pattern formed over 30 days, according to the standard principles of technical analysis.

Wall Street’s recent rally extended into Tuesday’s session as investors welcomed the latest inflation data that came in at an annual rate of 3.2% which was below economists’ expectations of 3.3% and raises investors’ hopes that the Fed’s rate hike campaign is coming to an end. The Dow Jones rose 1.7%, the S&P500 added 2.1% and the tech-heavy Nasdaq jumped 2.5%. The 10-year US Treasury Yield also tumbled below 4.5% following the release of the soft inflation report.Banks including Bank of America and Wells Fargo rallied on hopes that the US economy could avoid a recession all together.Home Depot shares lifted nearly 6% on Tuesday following the release of better-than-expected third-quarter earnings results.Over in Europe, markets also welcomed the cooler-than-expected US inflation data, as markets in the region closed higher on Tuesday. The STOXX600 rose 1.4%, led by retail stocks rising 3.1% while oil and gas stocks fell 0.2%. Germany’s DAX rose 1.76% on Tuesday, the French CAC added 1.4% and, in the UK, the FTSE100 lifted 0.2%.Locally yesterday, ASX closed 0.83% higher on Tuesday, despite the release of Westpac consumer confidence data for November and NAB business confidence data for October both showing declines against economists’ expectations of respective rises. NAB Business confidence data for October fell a further 2 points despite business conditions edging up, driven by higher sales and profitability while employment eased. This reading indicates businesses remain cautious despite the resilience we are seeing in business conditions.Westpac consumer confidence for November also fell 2.6% in data out yesterday to 79.9 points indicating consumers are pessimistic following the RBA’s latest rate hike for November placing additional financial pressures on Aussie households.Energy stocks did most of the heavy lifting on Tuesday with the sector closing 2.54% higher, boosted by Beach Energy rising 5.6%.Commonwealth Bank of Australia rallied just shy of 1% on Tuesday after Australia’s largest bank released a first quarter trading update including unaudited statutory NPAT up 1% on the PCP to $2.5bn. Operating income was flat though for CBA and operating expenses were up 3%, reflecting higher costs from wage inflation and higher amortisation.Big bank earnings over the last weeks have indicated strength and resilience by the big four in FY23 and the start of FY24, with revenues boosted by the rising interest rates and the peak of respective Net Interest Margins. Multiple signs have suggested though that future revenue and earnings are likely to ease including slowing mortgage and business credit growth across the board, rising operating costs due to inflation, higher switching by customers between all accessible banks both big and small, and the net interest margin peaking during FY23.What to watch today: Ahead of the local trading session here in Australia, the SPI futures are anticipating the ASX to open the midweek session up 1.35% following the strong rally on global markets overnight.On the commodities front this morning, oil is trading 0.74% higher at US$78.83/barrel, gold is up 0.85% at US$1962.52/ounce and iron ore is flat at US$130.50/tonne.AU$1.00 is buying US$0.65, 97.87 Japanese Yen, 52.03 British Pence and NZ$1.08.Trading Ideas: Bell Potter has decreased the 12-month price target on Chalice Mining (ASX:CHN) from $7.10 to $5.40 and maintain a speculative buy rating on the exploration company following the release of an update from ongoing hydrometallurgical test work programs the company has been undertaking for its 100%-owned Gonneville deposit. The results demonstrate the potential for higher recoveries to be achieved compared with those assumed in the scoping study released in August this year. The decline in price target is due to lower palladium and platinum price for

Wall St had a mixed start to the trading week with the Dow Jones adding 0.16% as traders look past the US outlook cut from Moody’s. The S&P 500 and the tech-heavy Nasdaq finished the day 0.08% and 0.22% lower respectively.In terms of US stocks, DaVita, Insulet and Henry Schein all gained over 7% each, with Boeing also adding 4% after Emirates announced a $52 billion order for aircraft, helping lift the Dow.Over in Europe, markets closed higher overnight with the STOXX 600 closing 0.7% higher with travel and leisure stocks leading the way, adding 1.7%. Germany’s DAX gained 0.73%, the French CAC added 0.6% and over in the UK, the FTSE100 ended the trading session 0.89% in the green.Locally yesterday, the ASX200 fell 0.40% with all but the utilities sector finishing in the red. Losses were led by the energy sector and the real estate sector which lost 0.88% and 0.56% respectively.What to watch today: The Australian share market is set to open higher, with the SPI futures suggesting a rise of 0.86% at the open this morning.In terms of economic data today,Westpac consumer confidence change will be released at 9:30am this morning with a forecast of a 0.7% lowering from the 2.9% in October. And later on tonight, over in the US, core inflation data is set to be released with a consensus to maintains its previous result of 4.1%.On the commodities front this morning, Oil is up 1.60% to 78 US dollars and 40 cents a barrel with OPEC increasing its 2023 global oil demand growth forecast to 2.46 million barrels per day. Gold is up half a percent to 1946 US dollars an ounce and iron ore is up 0.38% to 130 US dollars and 50 cents a tonne. Trading Ideas:Bell Potter maintains a buy rating on Elders (ASX:ELD) and has increased its price target to $8.35. The buy rating is maintained by Bell Potter following the release of FY23 results with underlying NPAT ahead of expectations at $103.7m, raising NPAT forecasts in FY24 by 13% and 15% in FY25.And Trading Central has identified a bullish signal in Grange Resources (ASX:GRR), indicating that the stock price may rise from the close of $0.51 to the range of $0.53-$0.55, on a pattern formed over 29 days, according to the standard principles of technical analysis.

US equities closed with a second week of gains, with the Dow Jones up nearly 400 points or 1.15%, the S&P500 up 1.56% and the tech-heavy Nasdaq rallying 2.05% higher, after Microsoft leap to all-time highs during Friday’s session. Equities recovered as treasurer yields stabilised. All European benchmarks ended the trading week in the red. The STOXX 600 closed Friday 1% lower, with food and beverage stocks leading the losses. All sectors were in negative territory, except for oil and gas stocks. What to watch today:The Australian market is set to start the week higher, ahead of key economic indicators out this week. The SPI futures are suggesting a rise of 0.34% at the open this morning. In commodities, Crude oil is trading almost 2% higher at US$77 per barrel, mirroring the broader market as equities rebounded on Friday. Gold is more than 1% lower, below US$1,950 an ounce, weighed down by the strong US dollar and Treasury yields, as the US market anticipates a fall in US consumer sentiment, as well as higher inflationary expectations. And iron ore has advanced to US$130 per tonne, its highest level in over 7-months, amid expectations of robust demand and risks to supply. And today watch the share price movements of ANZ (ASX:ANZ), Elders (ASX:ELD) and Incitec Pivot (ASX:IPL) as they’re set to release their earnings reports today. Also watch Macquarie Group (ASX:MQG), which is set to go ex-dividend today. This may see MQG’s share price fall, as investors take their profits. Trading Ideas:Bell Potter maintains a Buy rating on Life360 (ASX:360) ahead of the release of the companies Q3 results on Wednesday this week. Life360 provides a market leading app for families with features that range from communications to driving safety and location sharing. Bell Potter continue to forecast 2023 revenue and adjusted EBITDA of US$310.8 million and US$13.9 million, consistent with or slightly above guidance, which they expect to be reiterated in the Q3 report. Their price target remains unchanged at $11.00, and at 360’s current share price of $7.96, this implies 38% share price growth in a year. Bell Potter also have a Speculative Buy rating on Avita Medical (ASX:AVH), who develop a range of respiratory and regenerative products. Their valuation is $6.85, which at AVH’s current share price of $3.71, implies 84.6% share price growth in a year. 

The uranium market over the last month has seen increasing volatility, mostly led by demand across the nuclear fuel sector and limited near-term supply. Globally, the share prices of uranium miners have rallied, with smaller miners outperforming the large-cap uranium stocks. Considering this, we explore the four ASX-listed companies favoured by Bell Potter in the uranium market.In this week's wrap, Sophia covers:(0:12) drivers of the uranium market’s increasing volatility(1:23) Boss Energy’s (ASX:BOE) Speculative Hold recommendation(1:56) Paladin Energy’s (ASX:PDN) focus on development(2:11) Deep Yellow’s (ASX:DYL) Speculative Buy rating(2:44) Alligator Energy’s advancement with four projects(3:26) the best performing stocks in the ASX200(3:52) the most traded stocks & ETFs by Bell Direct clients(4:19) five economic news items to watch out for.Read the transcript here

Wall St closed lower overnight as the S&P 500 fell for the first time in nine trading sessions, losing 0.81%. The Dow Jones and tech-heavy Nasdaq followed suit losing 0.65% and 0.94% respectively overnight. Stocks hit session lows following Federal Reserve Chair, Jerome Powell suggesting that more work may need to be done to lower inflation.In terms of US shares, Disney rose 7% after reporting better-than-expected profit whist, software design company Arm dipped 6% after its first quarterly report as a public company.European markets closed higher overnight following a series of robust corporate earnings. The STOXX600 closed 0.8% higher, led by industrials gaining 2.5%. Germany’s DAX closed 0.81% higher, the French CAC ended the trading session 1.13% in the green and over in the UK the FTSE100 gained 0.73%.Earnings played a significant role in European market sentiment, with AstraZeneca up 2.6%.Locally yesterday, the ASX 200 closed 0.28% higher, led by a close to 1% increase from both the health and communication services sectors. However, this was heavily offset by a 4.83% drop in the information technology sector.What to watch today: The Australian share market is set open slightly lower, with the SPI futures suggesting a fall of 0.04% at the open this morning.In terms of economic data, at 10:30 this morning, The RBA will make a statement on monetary policy.And on the commodities front today,Oil is up 0.37% to 75 US dollars and 61 cents a barrel, following a 2% price fall on Wednesday, its lowest since mid-July. Gold is up 0.44% to 1958 US dollars an ounce and iron ore is up 0.79% to 128 US dollars a tonne with China expected to offset the debt crisis for the residential construction sector, maintaining active purchasing activity for iron ore inputs.Trading Ideas:Bell Potter maintains a speculative buy rating on ikeGPS Group (ASX:IKE) and has held on to its valuation of $0.88. The speculative buy rating is maintained by Bell Potter due to the medium and long-term outlook opportunity, underpinned by a forecasted investment of 410 billion US dollars into the North America 5G, fibre and rural broadband rollout.And Trading Central has identified a bullish signal on Car Group (ASX:CAR), indicating that the stock price may rise from the close of $29.37 to the range of $31.90-$32.60 on a pattern formed over 59 days, according to the standard principles of technical analysis.

US markets saw little change overnight, with the Dow Jones down 0.12%, while the Nasdaq gained 0.08% and the S&P500 ended 0.1% higher. The S&P500 gained for the eight straight day, making this the longest win streak in 2 years. European markets closed higher, with the STOXX 600 recovering earlier losses of around 0.3%. The release of earnings results was the key driver share price movements in Europe overnight, with Credit Agricole, Adidas, ABN Amro and Marks and Spencer all reporting before the bell. What to watch today:Our local market is set to open higher, with the SPI futures suggesting a rise of 0.36% at the open this morning. In commodities, The price of crude oil has sharply dropped, trading over 2% lower at the time of recording, at around US$75 per barrel. This is the lowest level since the 20th of July this year. The fall was prompted by emerging demand concerns from the largest consumers, the US and China. And adding to worries about global demand is the weaker-than-expected Chinese exports in October. So, keep watch of ASX energy producers today. The gold price is also lower, extending its decline for the third session in a row, pressures by the higher US dollar, While iron ore is in the green, sitting at its highest level in 7-months at US$127 per tonne. Today, watch the share price movements of NAB, with the bank set to release its full year results. Goldman Sachs analysts are expecting cash earnings up to 11% on the prior corresponding period, ahead of consensus. Goldman Sachs also are expecting a final dividend of 83 cps, in line with consensus. And companies that are set to hold their AGMs today include Amcor (ASX:AMC), De Grey Mining (ASX:DEG), Nine Entertainment (ASX:NEC) and Star Entertainment (ASX:SGR). Trading Ideas:Bell Potter maintains a Buy rating on Adacel Technologies (ASX:ADA) a global provider of simulation and control systems from the civil aviation and defence sectors. Their core products are air traffic control simulation systems and air traffic management automation systems. Bell Potter have increased their price target on the stock by 13% to $0.90. At ADA’s current share price of $0.78, this implies 15.4% share price growth in a year. 

Wall St ended the trading day higher again across the key indices with the S&P500 up 0.28%, rising for a 7th consecutive session, while the Dow Jones rose 0.17% and the tech-heavy Nasdaq ended the day 0.9% in the green.Tech stocks lead the charge on Tuesday due to a pullback in treasury yields, making equities more attractive to investors, with Microsoft, Apple and Amazon each up over 1% on Tuesday.Over in Europe, third-quarter earnings results weighed on markets in the region causing each to close mostly lower on Tuesday. The STOXX600 fell 0.3% as oil and gas stocks fell 1.85% after Saudi energy giant Aramco reported a steep decline in profit, while financial services stocks rose 0.9%. Germany’s DAX rose 0.11% on Tuesday, while the French CAC fell 0.4%, and, in the UK, the FTSE100 fell 0.1%.The ASX closed 0.3% lower on Tuesday after the widely expected 25-basis point rate hike was handed down by the RBA in a bid to combat the nation’s sticky inflation under new RBA governor, Michele Bullock. Financial stocks weighed on the key index, with the sector sliding 1.04% while energy stocks fell 0.8% at the closing bell on Tuesday. While the market was factoring in the rate rise before yesterday, the slide in the key index came after RBA governor, Michele Bullock, left the possibility for further rate hikes open to ensure inflation which is currently at 5.4%, returns to the target range of 2-3% by December 2025.What to watch today: The Australian share market is set to open flat this morning at market open.On the commodities front this morning,Oil is down 4.14% to US$77.48 a barrel following concerns over China’s report of a worse-than-expected drop in exports in October. Gold is down 0.46% to US$1968 an ounce and iron ore is trading flat at US$126.50 cents a tonne.Trading Ideas:Bell Potter has initiated coverage on Universal Store Holdings (ASX:UNI) and has recommended a buy. The buy rating is initiated as Universal’s higher margin sales from the majority private label sales will become a major driver of margin improvement and earnings growth.And Bell Potter maintains a speculative buy rating on Matrix Composites & Engineering (ASX:MCE) and has slightly increased its price target to 34 cents a share. MCE is exposed to a protracted capital expenditure up-cycle across the global off-shore energy sector. This view is reinforced by record-high order backlogs and upgraded medium-term outlooks reported by offshore energy service providers.

Well US equities closed slightly higher overnight with all three major benchmarks in the green, with the Nasdaq marking its longest positive streak since January. European markets closed lower, with the STOXX 600 down 0.2%, as sector movements were muted. Only oil and gas stocks gained. What to watch today:The Australian share market is set to open lower this morning, with the SPI futures suggesting a 0.17% decline. In economic data, at 2:30pm today the RBA will announce its next interest rate decision. After four months of holding the cash rate steady, today interest rates are expected to lift from 4.1% to 4.35%, off the back of higher-than-expected quarterly inflation and strong spending figures. Looking at commodities, Oil is strong, recovering losses from the previous session following top crude producers Saudi Arabia and Russia, announcing that they’ll maintain extra voluntary oil output cuts until the end of the year.Gold is in the red has investors weigh the latest economic data against geopolitical risks. And iron ore is trading at its highest level in seven months, amid hopes that economic stimulus from the Chinese government will create demand for resources. Trading Ideas:Bell Potter maintains a buy rating on Cobram Estate Olives (ASX:CBO) a vertically integrated producer and marketer of olive oil products with operations in Australia and the US, and export customers in approximately in 17 countries. Their 12-month price target is $1.70 and at CBO’s current share price of $1.29, this implies 32% share price growth in a year. And Trading Central have identified a bullish signal in Beacon Lighting Group (ASX:BLX), indicating that the stock price may rise from the close of $1.84 to the range of $2.03 to $2.07 over 18 days, according to the standard principles of technical analysis. 

Wall St closed the trading week higher on Friday, capping off the best week for US stocks so far this year after a soft jobs report drove bond yields lower. The Dow Jones closed 0.66% in the green, the S&P 500 ended the trading week nearly one percent higher and the tech-heavy-Nasdaq rose 1.38% on Friday.October jobs reports data was released on Friday coming in lower than expected, with the US economy adding 150,000 jobs, 20,000 lower than the 170,000 consensus estimate from Dow Jones. US unemployment data was also released on Friday, with a rise to 3.9%, with expectations of it holding steady at 3.8%.Over in Europe on Friday, markets closed slightly higher, ending a week powered by solid earnings reports. The STOXX600 ended out the week 0.2% higher, led by retail stocks which saw a 1.7% rise. Germany’s DAX closed off the week 0.30% higher whilst the French CAC and the UK’s FTSE 100 ended the trading week 0.19% and 0.39% in the red respectively.Locally on Friday, the ASX200 closed 1.14% higher, with all but the energy sector finishing in the green. The industry and real estate sectors led the way gaining over 2% each.What to watch today:The Australian share market is set to open higher, with the SPI futures suggesting a rise of 0.2% at market open this morning.On the commodities front this morning,Oil is down 2.36% to 80 US dollars and 51 cents a barrel, as China manufacturing levels have dropped into a contraction. Gold is up 0.35% to 1992 US dollars an ounce, underpinned by a weaker US dollar and lower treasury yields. And iron ore is up 0.80% to 125 US dollars and 50 cents a tonne.Trading Ideas:Bell Potter maintains a buy rating on Regal Partners (ASX:RPL) and has increased their 12-month price target to $3.40. The buy rating is maintained as the company has acquired 50% of Taurus, a specialist provider of financing solutions to global mid-tier and junior mining companies. The acquisition of Taurus will add to funds under management, will enhance earnings per share and does not involve issuance of equity.And Bell Potter maintains a hold rating on CSR (ASX:CSR) and has increased its price target to $5.70. The hold rating is maintained as the group is now past the peak of its current pricing cycle and as such, it is expected that recovery of fixed costs will become more challenging in FY25 as construction headwinds align.

Volatility in global markets continued into the last trading week of October, however, so far November has started on a green note across the key trading regions. Investors started buying again given Fed maintained the US cash rate for another term, eurozone inflation data came in at a 2-year low for October, and Australian quarterly company results showed resilience across some sectors.Concurrently, governments worldwide are actively pressing forward with the transition to green energy with key commodities playing a vital role.In this week's wrap, Grady covers:(0:33) geopolitical tensions and China’s recovery post-pandemic,(0:52) the rally of infrastructure investment company, Infratil,(1:02) governments pushing for a transition to green energy,(2:52) key commodities’ impact on the energy transition,(3:49) the $2 billion Hydrogen Headstart program,(5:11) the best performing stocks in the ASX200,(6:06) the most traded stocks & ETFs by Bell Direct clients, and(6:34) five economic news items to watch out for.

Wall St rallied overnight as treasury yields fell which saw the Dow Jones have its best day since June, ending the session up 1.7%. The S&P 500 and the tech-heavy-Nasdaq followed suit, gaining 1.89% and 1.78% respectively at the closing bell. All 11 sectors in the S&P 500 ended the day in the green, led by gains in the energy and real estate sectors.US treasury yields dropped to 4.67%, after the benchmark yield topped 5% last month.US Data was released overnight showing easing inflation and a slowing labour market, which added to investor confidence that the Federal Reserve may be done raising rates for the time being.Over in Europe, markets closed higher, following investor reaction to the Federal Reserve holding rates over in the US. The STOXX 600 ended the day 1.6% higher with all sectors positive, led by auto stocks up 3% and tech stocks up 2.7%. Germany’s DAX ended the day up 1.48%, the French CAC closed the trading session up 1.85% and over in the UK the FTSE 100 gained 1.42%.Locally yesterday, the ASX 200 finished 0.9% in the green led by the information technology and real estate sectors which gained 3.23% and 2.35% respectively. However, this was offset by the utilities sector which lost 3.83% on Thursday.What to watch today:The Australian share market is set to open higher, with the SPI futures suggesting a rise of 1.23% at the open this morning, extending the green run into the final trading session of the week.In terms of economic data,US Non-Farm Payrolls data is set to be released after Australian market close with a forecast of 180,000 new jobs added to the US economy in October which is down from the 336,000 recorded in September.And US unemployment rate data will also be released with a forecast to remain steady at 3.8%.On the commodities front this morning,Oil is up 2.51% to 82 US dollars and 46 cents a barrel, following the Federal Reserve’s decision to maintain rates. Gold is up 0.18% to 1985 US dollars an ounce and iron ore is up 0.81% to 124 US dollars and 50 cents a tonne.Trading Ideas:Bell Potter maintains a buy rating on Graincorp (ASX:GNC) and maintains the 12-month price at $9.45 on the agricultural stock. The buy rating is maintained as the share pricing in a material retracement is below normalised crop level earnings and there is also a potential utilisation of surplus capital through investment in new oilseed crush capacity that lifts the sustainable earnings base.And Trading Central has identified a bullish signal in Pacific Current Group (ASX:PAC), indicating that the stock price may rise from the close of $9.91 to the range of $11.20-$11.70 on a pattern formed over 26 days according to the standard principles of technical analysis.

Wall Street rallied overnight after the Federal Reserve maintained the U.S. cash rate at 5.25%-5.5% for another term as was expected by economists amid inflation continuing to fall in the world’s largest economy. The Dow Jones rose 0.7%, the S&P500 added 1.05%, and the tech-heavy Nasdaq has the biggest rise of 1.64%. The Fed’s decision to maintain and not hike the US cash rate was received positively by markets however Fed Chair Jerome Powell did not rule out further rate hikes in future if inflation rebounds. Positively, economic data released in recent times all point toward economic stability while inflation also cools which supports the idea of a soft landing as opposed to a recession, with the latest ISM Manufacturing index showing manufacturing activity contracted more than expected in October.Over in Europe, markets closed higher on Wednesday ahead of the Fed’s interest rate decision with the STOXX600 rising 0.7%, buoyed by retail stocks climbing 1.7%. Germany’s DAX added 0.76% on Wednesday, the French CAC lifted 0.68%, and in the UK, the FTSE100 rose 0.28%.Shares in Aston Martin plunged 13% yesterday after the luxury car maker reported a bigger-than-expected quarterly loss and cut its volume target. The European rally also came off the back of fresh euro zone inflation data being released showing inflation in the region hit a 2-year low of 2.9% in October.Locally yesterday, the ASX200 extended its green run into the midweek session, closing the day up 0.85% led by real estate stocks lifting 1.85%, while the health care and energy sectors added 1.45% and 1.13% respectively. The local rally was driven by strength in the US on Tuesday and the big miners rose on the back of the rising price of iron ore.What to watch today:Ahead of the local trading session here in Australia, the SPI futures are anticipating the ASX to open Thursday’s session up 0.76%, extending the green run into a third session.On the commodities front this morning, oil is trading 0.15% lower at US$80.90/barrel, gold is flat at US$1982/ounce and iron ore is up 1.23% at US$123.50/tonne.AU$1.00 is buying US$0.64, 96.51 Japanese Yen, 52.22 British Pence and NZ$1.09.Trading Ideas:Bell Potter has increased the rating on Infomedia (ASX:IFM) from a hold to a buy and maintain a 12-month price target of $1.75 ahead of the company’s AGM in November where it is expected at least reiterate the FY24 revenue guidance. Bell Potter now sees reasonable value in the stock with the FY24 PE ratio back around 30x and some prospect of a soft upgrade is expected at the at the upcoming AGM.And Bell Potter has downgraded Ingham’s Group (ASX:ING) from a buy to a hold and have slightly increased the 12-month price target to $3.95 from $3.90 following the release of a first quarter trading update from Australia’s leading poultry producer. The update was ahead of Bell Potter expectations including underlying EBITDAL guidance of $128m, underlying NPATL of $71m, and the expectation of 2H24 to be below 1H24 reflecting traditional seasonality in the business and feed cost inflation. Alternative meats like beef and lamb prices have also contracted while poultry prices have outperformed competing animal protein sources over the last 18-months. The downgrade to a hold is in light of recent share price strength as well as exposure to feed cost inflation again emerging without comparable inflation in competing protein products.

Wall St closed higher overnight, having regained some ground on a poor month strongly impacted by rising interest rates. Rising treasury yields are pressuring equities on Wall St to end a volatile trading month on the New York Stock Exchange. The Dow Jones is up 0.38%, the tech-heavy-Nasdaq closed the session nearly half a percent higher and the S&P500 ended the day 0.65% in the green. Stocks are heading for a third straight losing month, marking the first three-month losing streak for both the Dow Jones and S&P500 since March 2020.Earnings season continued on Tuesday with Caterpillar exceeding estimates for the third quarter, however signalling fourth-quarter revenue would only be slightly higher than a year ago which caused shares in the company to fall 5% on Tuesday.JetBlue also fell 14% after the airline’s third-quarter results missed expectations on both the top and bottom lines.In Europe markets logged the worst monthly performance in a year for the month of October despite mostly rising on the final trading day of the month, as investors digested a slew of economic data against earning results.The STOXX600 rose 0.6%, Germany’s DAX rose 0.64%, the French CAC added 0.9% and, in the UK, the FTSE100 fell just 0.08%, weighed down by BP falling 4.5% after the mining giant missed third quarter estimates.The ASX200 closed slightly higher on Tuesday by 0.1% buoyed by real estate and consumer staples stocks rallying despite China’s industrial activity falling into contraction mode in October. At the other end of the market, the materials sector fell over 1% on Tuesday, tracking the declining price of iron ore.Gold miner St Barbara fell over 10% after posting higher all-in-sustaining-costs at both of its mines in PNG and Canada.What to watch today:The Australian share market is set to open higher, with the SPI futures suggesting a rise of 0.52% at the open this morning.On the commodities front, oil is trading 1.22% lower at 81 US dollars and 20 cents a barrel, gold is down 0.6% at 1983 US dollars an ounce and iron ore is down 0.41% at 122 US dollars a tonne.AU$1.00 is buying US$0.63, 96 Japanese Yen, 52.34 British Pence and NZ$1.09.Trading Ideas:Bell Potter maintains a buy rating on Burgundy Diamond Mines (ASX:BDM) and holds its price target steady at $0.50. The buy rating is maintained as the potential for experienced management to enhance the value of an already top-10 global diamond mine is a key tenet to a positive investment view.And Trading Central identifies a bearish signal on Reece (ASX:REH), indicating that the stock price may fall from the close of $17.46 to the range of $13.90-$14.60, on a pattern formed over 131 days, according to the standard principles of technical analysis.

Wall St rallied on Monday prior to a big week ahead with the Federal Reserve’s rate decision, jobs reports and Apples’ earning set to be released. The Dow Jones had its best day since June, ending the session up 1.58% while the S&P 500 and the tech-heavy Nasdaq followed suit, rising 1.20% and 1.16% respectively.The communications services sector was the leader on Monday, while tech giants Amazon and Meta led the tech sector, gaining 3.9% and 2% respectively.The US Federal Reserve interest rate decision is set to be announced on Wednesday with the market expecting the central bank to hold its benchmark interest rate steady at 5.25%-5.5% for the next term.Over in Europe, markets closed higher despite the continued rising geopolitical tensions in the Middle East. The STOXX600 closed the day 0.4% higher with most sectors ending the trading day in the green. Germany’s DAX closed out Monday’s session 0.20% higher, the French CAC ended the day 0.44% in the green and over in the UK, the FTSE100 gained 0.5%.Locally yesterday, the ASX200 fell 0.79% with the energy and consumer staples sectors leading the losses by 2.59% and 1.27% respectively. This was slightly offset by the information technology sector which rose 0.43% yesterday.What to watch today: The Australian share market is set to open higher, with the SPI futures suggesting a rise of 0.43% at the open this morning following the global rally overnight.In terms of economic data,Australia’s all-important retail sales data came out yesterday, which saw a 0.9% rise for the month of September, which well-exceeded economists’ expectations of a 0.3% rise. This provides further support for the RBA to raise interest rates again on Melbourne Cup Day as consumer spend remains resilient in the high inflationary environment.On the commodities front this morning,Oil is down 3.78% to 82 US dollars and 31 cents a barrel as investors await economic monetary policy outlook and continued fears over the war in the Middle East. Gold is down 0.48% to 1996 US dollars an ounce, as investors await the Fed’s decision on interest rates on Wednesday. And iron ore is up 1.66% to 122 US dollars and 50 cents a tonne as renewed stimulus measures in China prompted an improved outlook for commodity demand. Trading Ideas:Bell Potter maintains a buy rating on Seven Group Holdings (ASX:SVW) and holds its price target steady at $33. The buy rating is maintained as Seven Group Holdings are market leaders in the industries it operates within, with scale, brand and industry expertise underpinning commercial advantages that are hard to replicate by competitors. And Trading Central has identified a bullish signal on Beacon Lighting Group (ASX:BLX), indicating that the stock price may rise from the close of $1.83 to the range of $2.03-$2.07, on a pattern formed over 33 days, according to the standard principles of technical analysis.

Wall Street closed mixed across the key indices on Friday, pushing the S&P500 into correction territory as the index is now down 10.3% since its 2023 peak in July. The Dow Jones fell 1.12%, and the S&P500 lost almost half a percent, but the Nasdaq rose 0.38% on Friday buoyed by Amazon jumping over 6% on better-than-expected earnings and revenue for the third quarter.Investors in the US have assessed disappointing earnings results against economic uncertainty which have led to the S&P500 and Nasdaq now entering correction territory. For the trading week last week, all three key indices lost of 2% each. US equities were also pressured on Friday by investor fears of further interest rate hikes after U.S. GDP data showed the economy grew by 4.9% in the third quarter which well exceeded estimates.Over in Europe, markets in the region closed lower as investor sentiment remains shaky on geopolitical tensions and economic instability. The STOXX600 fell 0.8%, weighed down by healthcare stocks falling 2.9, while Germany’s DAX lost 0.3%, the French CAC fell 1.36% and, in the UK, the FTSE100 shed 0.86% on Friday. NatWest shares fell 11% on Friday after the bank reported third quarter results that showed net interest margin declining.Locally on Friday, the ASX200 rose 0.21%, but for the week the ASX200 fell 1.07% as investor fears of an RBA rate hike on Melbourne Cup Day rose on the back of stronger-than-expected CPI data released earlier last week. On Friday, consumer staples stocks did most of the heavy lifting to close 1.33% higher driven by Endeavour Group and Coles Group.ResMed shares fell 4% on Friday after the healthcare company’s September quarter update outlined higher costs further dampened the company’s margins, while Silver Lake Resources and Champion Iron rose 7.7% and 6.9% respectively on Friday.What to watch today: Ahead of the local trading session here in Australia, the SPI futures are expecting the local market to open the first trading session of the new week down almost 1% following the turbulence on Wall Street on Friday.On the commodities front this morning, oil is up 2.18% at US$85.03/barrel, gold is up 1.08% at US$2006/ounce and iron ore is flat at US$120.50/tonne.We will be keeping a close eye on the retailers as Australia’s retail sales data for September is out at 10:30am AEDT with consensus expecting a rise of 0.3% from a 0.2% rise in August. Any slowdown in consumer spending may see further weakness in consumer discretionary stocks especially following some disappointing quarterly results out of retailers over the last week.AU$1.00 is buying 63 US cents, 94.79 Japanese Yen, 52 British Pence and NZ$1.09.Trading Ideas:Bell Potter has downgraded the rating and price target on Clean Seas Seafood (ASX:CSS) from a buy to a hold and with a 12-month price target of 47cps, down from 60cps, following commentary made at the company’s AGM and on the release of a trading update. Clean Seas highlighted a more sombre trading update than Bell Potter expected including 1Q24 sales volume down 1% and frozen inventories up 44% YoY which is a trend Bell Potter would like to see reverse over the remainder of FY24. Average selling prices were also down 2% relative to average 2H23 pricing.And Bell Potter has increased the 12-month price target on Fortescue Metals Group (ASX:FMG) from $15.53 to $16.21 and maintain a sell rating on the mining giant following the release of the company’s September quarter trading update including iron ore shipments and cash costs missing expectations, and net debt increasing due to the distribution of dividends. The price target increase is due to favourable outlook for iron ore prices and foreign exchange forecasts.

Higher fuel prices, rising rental costs and increased electricity prices were the key drivers of Australia’s inflation rate rising 1.2% in the September quarter, which is unsurprising as these drivers have remained the sticky points in taming inflation. This week, we explore how a 25-basis points rate hike may impact investment portfolios, the cost-of-living, and Aussie companies.In this week's wrap, Grady covers:(0:11) key drivers of Australia’s inflation rate,(0:34) economists expecting a rate hike,(1:16) the Senate estimates hearing on Tuesday,(2:20) what the rate hike will mean for investors and businesses(3:06) quarterly trading updates and results,(4:37) the best performing stocks in the ASX200,(5:44) the most traded stocks & ETFs by Bell Direct clients, and(6:15) five economic news items to watch out for.

Wall St closed lower on Thursday as earnings season results failed to live up to investor expectations. The tech-heavy Nasdaq had the sharpest decline out of all three major indices losing 1.76%, dropping deeper into correction territory following the release of results from technology company Meta which fell short of expectations. The S&P 500 and the Dow Jones also finished the day in the red, losing 1.18% and 0.76% respectively.Over in Europe, markets closed lower as investor attention remains on earnings season and government bond yields. The STOXX 600 closed down 0.5% with most major sectors finishing in negative territory. Germany’s DAX closed just over one percent lower, the French CAC ended the trading day down 0.38% and over in the UK the FTSE 100 retreated 0.81%.Locally yesterday, the ASX 200 closed 0.61% lower with the information technology and real estate sector closing 2.56% and 2.07% lower respectively. This was slightly offset by the utilities sector which gained 1.30% by market close yesterday.What to watch today: The Australian share market is set to open slightly lower, with the SPI futures suggesting a fall of 0.04% at the open this morning. On the commodities front this morning,Oil is down 2.08% at 83 US dollars and 61 cents a barrel following an increase in supply, with crude oil inventories unexpectedly rising by 1.371 million barrels.Gold is up 0.25% to 1984 US dollars and 57 cents an ounce as investors react to stronger than expected economic data from the US. And iron ore is trading flat, at 120 US dollars and 50 cents a tonne.Trading Ideas:Bell Potter maintains a buy rating on Gold Road Resources (ASX:GOR) despite increasing its price target to $2.10. The buy rating is maintained as an expansion of their gold mines is yielding increased profitability and cash build. Beyond the expansion, Gold Road’s corporate strategy includes the establishment of a second, 100% owned gold mine.And Trading Central has identified a bullish signal in SG Fleet Group (ASX:SGF), indicating that the stock price may rise from the close of $2.54 to the range of $2.82-$2.88 on a pattern formed over 21 days, according to the standard principles of technical analysis. 

Wall Street closed lower on Wednesday on the back of disappointing earnings results and rising treasury yields. The S&P500 fell 1.43% on Wednesday, while the Nasdaq tumbled 2.43% and the Dow Jones lost 0.32%. Google’s parent company, Alphabet, tumbled more than 9% after the tech giant posted quarterly results that beat expectations for earnings and revenue growth but missed expectations for the company’s cloud business. The benchmark on the 10-year treasury yield climbed nearly 11 basis points to hit 4.95%.Over in Europe, markets closed mixed as investors reacted to the release of corporate earnings results. The STOXX600 closed flat as mining stocks rose almost 1% while retail stocks fell 1.3%.Kering shares fell 3% on Wednesday after the French luxury group reported a 9% decline in sales for the third quarter.Germany’s Deutsche Bank rose 8% yesterday after reporting a third-quarter net profit of 1.031bn euros, which beat analysts’ expectations.The local market closed relatively flat on Wednesday to end the day down just 0.04% or 2.6 points as investors weighed a Tuesday rally on Wall Street against hotter-than-expected inflation reading for Australia in the September quarter.Australia’s CPI data released yesterday showed the country’s headline inflation rose 1.2% in the September quarter to an annual rate of 5.4%, below the 6% recorded in Q2 but slightly above economists’ expectations of 5.3%. The key driver of inflation rising 1.2% in the September quarter were unsurprisingly fuel prices up 7.2%, rental prices up 2.2% and electricity prices up 4.2%.Prior to the release of the latest CPI reading, three of the big four Aussie banks believed the nation’s cash rate had peaked at 4.1%, and after the release of the inflation reading coming in hotter-than-expected, NAB, CBA and ANZ now believe another interest rate hike is in-store for Aussies set to be announced on Melbourne Cup Day. The move in bank expectations also follows Michele Bullock’s first speech as governor of the RBA on Tuesday night where she said the board ‘will not hesitate to raise the cash rate further if there is a material upward revision in the outlook for inflation’.What to watch today:Ahead of the local trading session here in Australia the SPI futures are expecting the ASX to open Thursday’s session down 0.26% following the sharp sell-off on Wall St overnight.On the commodities front this morning, oil is up 1.85% at US$85.29/barrel, gold is up 0.46% at US$1979.15/ounce and iron ore is up 1.26% at US$120.50/tonne.AU$1.00 is buying US$0.63, 94.73 Japanese Yen, 52.08 British Pence and NZ$1.09.Trading Ideas:Bell Potter has decreased the 12-month price target on IVE Group (ASX:IGL) from $2.75 to $2.65 but maintain a buy rating on the largest integrated marketing communications business in Australia after the company announced it signed a binding agreement to acquire 100% of JacPac, a Melbourne based packaging company for a total purchase consideration of $35m.Trading Central has identified a bearish signal on Downer EDI (ASX:DOW) following the formation of a pattern over a period of 84-days which is roughly the same amount of time the share price may fall from the close of $3.76 to the range of $3.10 to $3.20 according to standard principles of technical analysis.

Over in the US, Wall Street closed in the green as investors assess the latest corporate results released alongside a retreat in treasury yields. Coca Cola shares closed higher after the beverage giant posted revenue and earnings that topped market expectations, while music streaming service Spotify soared 10% after the company posted third quarter results that topped expectations. In Europe, markets snapped a 5-session losing streak to close higher on the release of strong corporate earnings results, despite unfavourable economic data being released. Hermes shares rose after the luxury retailer reported a 16% spike in sales growth for the third quarter. And the STOXX600 rose 0.4% on Tuesday, boosted by mining stocks rising 2.6%.The ASX overcame Monday’s sell-off, closing higher yesterday as investors shook off fears of an extended war in the Middle East and bond yields continued to retreat, increasing demand for equities. The energy and materials sectors did most of the heavy lifting on the local market yesterday on the rising price of oil and iron ore.What to watch today:Our local market is set to open higher this morning, with the SPI futures suggesting a 0.35% rise at the open. In economic news, inflation data is out today which will give investors and the RBA an indication of how well the rate hikes to date have worked toward taming inflation. The market is expecting Q3 inflation to drop to 5.3% year-on-year from 6% year-on-year in Q2. The recent key drivers have been services and housing inflation which will be two key metrics that the RBA and investors assess in the data out later today. Pending the result, we will likely see the ASX move accordingly after the data is released this morning, with sectors that are rate-sensitive like Tech and REIT stocks, likely to have the biggest impact.In commodities, Crude oil is trading lower, extending losses for the third session. Gold is slightly lower, pausing its recent climb to a five-month high off the back of a stronger US dollar and elevated yields, as investors awaited US GDP and inflation numbers. While iron ore is trading higher, so keep watch of ASX-listed iron ore stocks today. And AU$1.00 has slightly strengthened to buy US$0.64, 95.24 Japanese Yen, 51.93 British Pence and NZ$1.09.Trading Ideas:Bell Potter maintains a Buy rating on Bega Cheese (ASX:BGA). Their price target is $3.35 and at its current share price of $2.91, this implies 15% share price growth in a year. And Trading Central have identified a bullish signal in Perseus Mining (ASX:PRU) indicating that the stock price may rise from the close of $1.76 to the range of $1.86 to $1.89 over 23 days, according to the standard principles of technical analysis. 

Wall St closed mixed on Monday as the Nasdaq ended a four-day losing streak and treasury yields retreat from its 5% high. The Dow Jones closed 0.58% lower, the S&P 500 closed 0.17% lower and the tech-heavy Nasdaq ended the day 0.27% in the green.In terms of US shares, oil company Chevron fell 3.7% following the announcement that the company would be purchasing fellow peer, Hess in an all-stock deal. Pharmacy giant, Walgreens gained 3% following an upgrade from JP Morgan and online security stock Okta retreated 8% following a data breach.Earnings season continues with tech giants Alphabet, Amazon, Meta and Microsoft all releasing key information to the stock market this week.Over in Europe, markets closed lower with the STOXX 600 losing 0.1% on Monday. Retail and travel stocks posted strong gains, however, heavy losses among the miners weighed on the markets in the region. Germany’s DAX gained just 0.02%, the French CAC gained half a percent, however over in the UK the FTSE 100 lost 0.37%.Locally yesterday, the ASX 200 closed 0.82% lower with the energy and materials sector losing 3% and 2.34% respectively. This was offset by the health sector which gained 1.53% by market close yesterday.What to watch today:The Australian share market is set to open lower, with the SPI futures suggesting a fall of 0.22% at the open this morning, extending the losing run into Tuesday’s session.On the commodities front this morning,Oil is down 2.21% to 86 US dollars and 13 cents a barrel as efforts to keep the Israel-Hamas war from spreading to a wider conflict in the Middle East are easing concerns about supply disruptions. Gold is down 0.81% to 1965 US dollars an ounce as treasury yields moved up and the Middle Eastern War dented demand for the safe-haven asset. And iron ore is down 0.86% to 115 US dollars a tonne as worries about China’s debt-ridden property sector hampered the outlook on the country’s resource demand.Trading Ideas:Bell Potter maintains a buy rating on Aeris Resources (ASX:AIS) with an unchanged 12-month target of $0.30. The buy rating is maintained as Aeris Resources is a copper-dominant producer with all assets in Australia. Its near-term outlook remains highly leveraged to increasing copper grades at the Tritton copper mine, where high graded ore sources have commenced production and exploration success is likely to sustain it.And Trading Central has identified a bearish signal on Commonwealth Bank (ASX:CBA), indicating that the stock price may fall from the close of $97.82 to the range of $71-$76 on a pattern formed over 468 days, according to the standard principles of technical analysis.

Rising bond yields sparked a sell-off on Wall Street on Friday as investors remain concerned about the broader state of the U.S. and global economies. The yield on the benchmark 10-year treasury note topped 5% for the first time in 16-years on Friday which offers investors a safer return on investment than the current volatility of equity markets in the U.S.The Dow Jones fell 0.86% on Friday while the S&P500 lost 1.26% and the tech-heavy Nasdaq shed 1.53%. For the week, the Dow Jones fell 1.2%, the S&P500 shed 2.4% and the Nasdaq took the biggest hit, falling 3.2%.American Express shares fell 5% on Friday after the big bank reported earnings per share that beat expectations, but revenue came broadly in line with expectations.Tesla shares also tumbled over 15% across the trading week after the EV giant reported earnings on Wednesday that missed expectations on both the top and bottom lines.Over in Europe, markets closed at the lowest level in 2023 on Friday on rising treasury yields and fears of further monetary tightening out of the US. Comments made by US Fed Chair, Jermone Powell, around the need to continue with a tightened monetary policy until inflation hits the target 2% range, sparked global investor fears of further rate hikes out of the world’s largest economy. The yield on the 30-year UK government bonds hit the highest level since 1998 on Friday amid rising tensions in the Middle East and the global fear of “higher for longer” pushing investors to favour bonds over other riskier assets in the current market. The STOXX600 fell 1.3%, Germany’s DAX lost 1.64%, the French CAC shed 1.52% and, in the UK, the FTSE100 fell 1.3%.Locally on Friday, the ASX200 fell 1.16%, weighed down by the materials sector falling 1.7% while the communication services, and healthcare sectors fell 1.43% each. 10 of the 11 sectors on the local market closed lower on Friday as surging bonds and tensions in the Middle East weighed on local investor sentiment. Energy stocks were the only equities to rally on Friday as the price of oil continues to climb as tensions in the oil producing hub of the Middle East continue rising.Liontown Resources (ASX:LTR) fell 32% on Friday as the lithium miner resumed trading following a trading halt to capital raise after US miner Albemarle walked away from its $6.6bn takeover offer.What to watch today:Ahead of the first trading session of the week here in Australia, the SPI futures are anticipating the ASX to open Monday’s session down just shy of 1%, to carry the sell-off into the new trading week.On the commodities front this morning, oil is down 0.33% at US$88.08/barrel, gold is up 0.4% at US$1981/ounce and iron ore is down 2.93% at US$116/tonne.AU$1.00 is buying US$0.63, 94.69 Japanese Yen, 51.88 British Pence and NZ$1.08.Trading Ideas:Bell Potter has slightly decreased the 12-month price target on Lynas Rare Earths (ASX:LYC) from $8.50 to $8.20 and maintain a buy rating on the leading producer of rare earths following the release of the company’s 1QFY24 trading update outlining production of NdPr was 17% lower QoQ and 7% below Bell Potter expectations as maintenance works were carried out at Lynas’ Malaysian facilities over the first quarter.And Trading Central has identified a bearish signal on Sigma Healthcare (ASX:SIG) following the formation of a pattern over a period of 17-days which is roughly the same amount of time the share price may fall from the close of $0.66 to the range of $0.57-$0.59 according to standard principles of technical analysis.

All eyes were on key economic data out of China this week. The data will help investors determine the pace of recovery for the world’s second largest economy, and, what that means for local and global markets.In this week's wrap, Grady covers:(0:11) what China’s economic data meant for Australia,(0:44) China’s GDP growth rate & industrial production YoY,\(1:34) the outlook for commodities,(2:43) Cettire (ASX:CTT), Bapcor (ASX:BAP), Nick Scali (ASX:NCK) & Netwealth (ASX:NWL),(3:58) quarterly results in the US,(4:42) the best performing stocks in the ASX200,(5:21) the most traded stocks & ETFs by Bell Direct clients, and(5:50) five economic news items to watch out for.

Wall St has closed lower on Thursday as the 10-year treasury yield nears 5%. The Dow Jones lowered 0.75%, the S&P 500 fell 0.85% and the tech-heavy Nasdaq ended Thursday nearly 1 percent lower. Federal Reserve Chair, Jerome Powell described US inflation as “too high” and would likely require lower economic growth. As a result, investors have taken away that it is likely that the Fed would likely maintain interest rates at its next policy meeting. The US 10-year treasury yield reached a peak of 4.996%, closing in on a 5% mark that hasn’t been hit since 2007. Over in Europe, markets closed lower for a third consecutive day as investors react to the Hamas-Israel war, earnings and economic data. The STOXX600 ended Thursday down 1.16%, it’s lowest close since March 15. Germany’s Dax and French CAC closed 0.33% and 0.64% lower respectively, whilst over in the UK, the FTSE 100 ended the day 1.17% in the red. Locally yesterday, the ASX 200 ended the day down 1.36% with all sectors finishing in the red. This was led by the information technology and consumer staples sectors which saw a 1.84% and 1.63% close in the red. What to watch today: The Australian share market is set to open lower, with the SPI futures suggesting a fall of 0.64% at the open this morning. In terms of economic data, The Australian jobless rate was released yesterday, which saw it fall to 3.6%, a sign showing that the labour market remains tight. On the commodities front this morning, Oil is up 2.23% to 90 US dollars and 30 cents a barrel as concerns in the Middle East ramp up supply issues to major distributors. Gold is up 1.37% to 1974 US dollars an ounce as the escalation in the Middle Eastern war increases the demand for the precious metal as a safe-haven asset. And iron ore is down 2.05% to 119 US dollars and 50 cents a tonne, despite Rio Tinto signalling that it will attempt to increase iron ore mining to satisfy the demand growth in China. Trading Ideas: Bell Potter maintains a buy rating on Telix Pharmaceuticals (ASX:TLX) and has maintained its price target of $14 with a current share price of $9.20. The buy rating is maintained as revenues are ahead of the forecast and reported revenues in the third quarter representing an 11% sequential quarter increase. And Trading Central has identified a bullish signal on Evolution Mining (ASX:EVN), indicating that the stock price may rise from the close of $3.60 to the range of $4.10-$4.20 over a pattern formed in 5 days according to the standard principles of technical analysis. 

Over in the US on Tuesday, Wall Street closed mixed after a volatile session as rising bond yields and corporate earnings results weigh on investor sentiment. The S&P500 closed just 0.01% lower after trading down all session, while the tech-heavy Nasdaq lost 0.25% and the Dow Jones rose just 0.04%. The 10-year US Treasury yield topped 4.8% following US retail sales data coming in at a rise of 0.8% which was higher than expected, indicating consumers are still spending in the high interest rate environment. The Bank of America shares rose 2.4% on Tuesday after posting better-than-expected results while Nvidia fell 4.7% after the US Department of Commerce said it plans to ban the export of more AI chips to China.In Europe on Tuesday, markets closed mostly flat following the release of hotter-than-expected US retail sales data which reignited fears of further monetary tightening out of the world’s largest economy and subsequent flow-on impacts into the European region. The STOXX600 fell 0.1%, Germany’s DAX rose just 0.09%, the French CAC added 0.11% and, in the UK, the FTSE100 climbed 0.58%.A morning rally locally was dampened in afternoon trade leading to the ASX200 close Tuesday’s session up 0.42% led by a rebound in technology stocks which started the week in negative territory. Healthcare stocks took the biggest hit yesterday with the sector closing down 0.8% while consumer staples and consumer discretionary stocks also closed the day in the red. The tech-rally was driven by strength on the Nasdaq in the US overnight.The release of the RBA’s latest minutes sparked the sell-off in afternoon trade that saw the strong gains on the local index ease as investors took the minutes as more hawkish than previous months. The consensus of the minutes was focused on the RBA having considered raising the cash rate by 25-basis points at the last meeting before ultimately deciding to leave the rate at 4.1% for a fourth consecutive month.What to watch today: Ahead of the midweek local trading session here in Australia, the SPI futures are expecting the ASX to open 0.28% higher.On the commodities front this morning, the volatility in the price of oil has continued over the last few sessions amid hopes of a short-period of war between Hamas and Israel pulling against fears of a prolonged and widespread war that escalates to involve major oil producer, Iran. The rising price of oil fuelled Shell shares to hit a record high as investors price in disruption that could impact global oil supply. The price of oil is currently trading down 0.29% at US$86.42/barrel, gold is up 0.06% at US$1920.57/ounce and iron ore is up 0.84% at US$120.50/tonne.Looking at economic data, key Chinese economic data is out today in the form of GDP growth rate data for Q3, industrial production for September and Retail sales data, all of which will give an insight into how the world’s second largest economy is recovering post pandemic and whether further government stimulus is required to reignite growth in the region. Trading Ideas:Bell Potter has decreased the 12-month price target on Janison Education (ASX:JAN) from 65cps to 55cps and maintain a buy rating on the global education technology company following the release of a soft Q1 FY24 update including revenue up 5% YoY while ICAS revenue fell 0.6% YoY impacted by economic headwinds and discontinued unprofitable exams. The company also announced that CEO and Managing Director, David Caspari and Chairman, Michael Hill, will step down.And Trading Central has identified a bullish signal on BHP Group (ASX:BHP) following the formation of a pattern over a period of 95-days which is roughly the same amount of time the share price may rise from the close of $45.57 to the range of $49.50 - $50.40 according to standard principles of technical analysis.

Wall St rallied overnight following the release of positive corporate earnings despite rising treasury yields. The Dow Jones rose 0.93%, the S&P closed 1.06% higher and the tech-heavy-Nasdaq ended Monday 1.20% in the green.In terms of US stocks, Nike and Travelers Companies lead the way, up 2.1%, with all 11 sectors in the S&P 500 trading higher.Earnings season is ramping up with Johnson & Johnson, Bank of America, Netflix and Tesla all set to release results this week. Charles Schwab closed 4.7% higher overnight after exceeding expectations for earnings per share in the third quarter. This followed with JPMorgan Chase, Wells Fargo and United Health all posting positive quarterly results.Over in Europe, markets ended Monday in the green as investors react to the escalating war in the Middle East. The STOXX600 rose by 0.2%, led by retail stocks which gained 2%. Germany’s DAX and the French CAC rose by 0.34% and 0.27% respectively with the UK’s FTSE100 also jumping 0.41% overnight.Locally yesterday, the ASX 200 closed 0.35% lower with eight out of the eleven sectors finishing lower, led by losses in the information technology sector of 2.79%. However, this was slightly offset by the energy sector which saw a 0.63% increase on Monday.What to watch today:The Australian share market is set to open higher, with the SPI futures suggesting a rise of 0.68% at the open this morning.In terms of economic data today, the RBA meeting minutes will be released today, following the decision to leave the cash rate unchanged at 4.1%.On the commodity front this morning,Oil is down 0.79% to 87 US dollars a barrel as traders continue to look at the Hamas-Israel war and the effect it will have on global oil supply. Gold is down 1% to 1912 US dollars an ounce, as once again investors await on the impacts the Middle East war will have on the global company which may have adverse effects on the precious metal. And iron ore up 2.58% to 119 US dollars and 50 cents a tonne with Beijing announcing that it is considering raising its budget deficit this year to deliver a fresh round of stimulus for new infrastructure projects.Trading Ideas:Trading Central has identified a bearish signal in Johns Lyng Group (ASX:JLG), indicating that the stock price may fall from the close $6.22 to the range of $5.60-$5.70, over a pattern formed in 34 days, according to the standard principles of technical analysis.And Trading Central identified a bullish signal on Perseus Mining (ASX:PRU), indicating that the stock price may rise from the close of $1.65 to the range of $1.94 to $2.00, over a pattern formed over 20 days, according to the standard principles of technical analysis.

Wall Street closed mixed on Friday amid a spike in the price of oil and renewed inflation fears which led to the Dow Jones rising 0.12% while the S&P500 fell 0.5% and the Nasdaq lost 1.23%. For the week, the S&P500 added 0.45%, and the Dow Jones rose 0.79%, but the tech-heavy Nasdaq fell 0.18% over the four trading days.Escalating geopolitical tensions in the Middle East caused the price of oil to jump 6%, the most in one session since April.Dollar General shares popped 8.8% on Friday after the discount retailer announced former CEO Todd Vasos would return to lead the company while chipmaker and AI shares including Adobe and Nvidia shares rallied to end the week higher. The release of key consumer sentiment data also weighed on Wall St on Friday with the reading showing investor sentiment plunged in October while inflation fears spiked. Third quarter earnings are also in focus over the next week as investors will assess how corporations are faring the high interest rate environment. JPMorgan Chase and Wells Fargo kicked off the earnings period with stronger-than-expected profit and revenue for the third quarter.Over in Europe, markets closed lower on Friday amid global investor sentiment sliding especially on the back of rising geopolitical tensions between Hamas and Israel. The STOXX600 fell 1% weighed down by tech stocks dropping 2.5%. Germany’s DAX shed 1.55% on Friday, the French CAC fell 1.42%, and in the UK, the FTSE100 lost 0.6%.Locally on Friday, the ASX200 fell just over half a percent, weighed down by a sell-off in technology and real estate stocks, which are both sectors impacted by higher interest rates which is the general consensus at the moment among investors through the sentiment of higher for longer. Chalice Mining fell a further 8.3% on Friday while Weebit Nano and Core Lithium fell over 6% each. Bega Cheese rallied over 3% though after Bell Potter upgraded the dairy maker to a buy rating with a price target of $3.35/share.What to watch today:Ahead of the new trading session here in Australia, the SPI futures are expecting the local market to open the new trading session down 0.42% to start the new trading week lower.On the commodities front this morning oil is up 5.99% at US$87.87/barrel, gold is up 3.42% at US$1932.50/ounce and iron ore is up 1.74% at US$117/tonne.AU$1.00 is buying US$0.63, 94.13 Japanese Yen, 52.06 British Pence and NZ$1.06.Trading Ideas:Bell Potter has increased the 12-month price target on Coventry Group (ASX:CYG) from $1.35 to $1.40 and maintain a buy rating on the company following the release of the multi-disciplinary industrial supply and services company’s 1QFY24 trading update indicating Coventry is on track for a very strong FY24. Group sales for the first quarter were up mid-single digits to $94.6m while unaudited pre-AASB-16 EBITDA came in at $5.4m, up 11% on the PCP.And Trading Central has identified a bearish signal on Ingenia Communities Group (ASX:INA) following the formation of a pattern over a period of 59-days which is roughly the same amount of time the share price may fall from the close of $3.96 to the range of $3.45 to $3.55 according to standard principles of technical analysis.

The global market rally was driven by the price of oil surging 5% on concerns of a prolonged war between Hamas and Israel. While no immediate impact was felt on the oil supply and demand front, global economies are factoring in prolonged periods of geopolitical tensions which caused the price of oil to surge.Locally, we are seeing the release of first quarter FY24 trading updates, which had investors making some moves this week.In this week's wrap, Grady covers:(0:34) companies that were sharply sold off,(1:06) the Israel-Hamas war’s effect on oil flows and output,(1:57)  China’s material stimulus package,(2:43) Air New Zealand (ASX:AIZ), Redbubble (ASX:RBL), and Tabcorp (ASX:TAH),(4:54) the best performing stocks in the ASX200,(5:57) the most traded stocks & ETFs by Bell Direct clients, and(6:29) five economic news items to watch out for.

US markets closed lower overnight, following the release of key inflation data with core inflation year on year declining to 4.1% in September as markets were expecting. The monthly inflation rate for September fell from a 0.6% rise in August to a 0.4% rise in September which was slightly above what markets were expecting at 0.3% which has reignited fears of further interest rate hikes. The S&P 500 and tech-heavy-Nasdaq closed just over 0.6% lower with the Dow Jones also losing half a percent on Thursday.US treasury yields rose off the back of released inflation data to 4.70% after hitting its highest peak in 16 years earlier this month.In terms of US stocks, Walgreens jumped 7% following progress in its cost-cutting plans and lower levels of losses. A potential restriction in oil supply could be on the cards with the ongoing Israel-Hamas war, with geopolitical tension and instability spreading to oil producers in the US.Over in Europe, markets closed slightly higher on Thursday as they build on positive global momentum this week. The STOXX600 ended the day up 0.1% with oil and gas stocks rising 1.3% each. Travel and leisure stocks were on the losing end, dropping 0.9% as a number of airlines have decided to suspend flights to Israel. The UK’s FTSE 100 ended the day in the green by 0.32%, whilst Germany’s DAX and the French CAC closed 0.23% and 0.37% lower respectively.Locally yesterday, the ASX 200 closed Thursday 0.04% higher driven by rallies among the financial and real estate sectors which each jumped 0.86%. This was heavily offset by the health sector which closed 4.52% in the red yesterday due to healthcare giant CSL tumbling 6.30%.What to watch today: The Australian share market is set to open lower, with the SPI futures suggesting a fall of 0.81% at the open this morning.In terms of commodities, Oil is trading 0.16% lower at 83 US dollars and 35 cents a barrel after the oil market showed a rebound as Russia and Saudi Arabia showed they were working together to help support the oil market following the events in Israel and Gaza. Gold is trading 0.26% lower at 1868 US dollars an ounce as high interest rates increase the opportunity cost of holding the precious metal. And iron ore is up 1.32% to 115 US dollars a tonne as China are still facing financial instability issues in their construction industry.Trading Ideas: Bell Potter maintains a buy rating on Bega Cheese (ASX:BGA), despite decreasing its price target from $3.50 to $3.35 with a current share price of $2.80. The recommendation has changed from a hold to a buy as the risk and reward profile has shifted due to the material valuation upside, should BGA execute on its 5-year targets.And Trading Central has identified a bullish signal on Data3 Limited (ASX:DTL), indicating that the stock price may rise from the close of $7.29 to the range of $7.60-$7.70 over a pattern formed in 21 days, according to the standard principles of technical analysis.

US equities closed higher again on Wednesday as Treasury yields continued to decline, and investors await the release of the latest inflation data out on Thursday US time. The Dow Jones industrials index rose 0.19%, the S&P500 added 0.43% and the tech-heavy Nasdaq rose 0.71%. The latest slate of US inflation data will be released on Thursday with economists expecting a rise of 0.3% on the previous month and 3.6% annually. Producer price index in the US rose 0.5% for September which was higher than economists were expecting but a decline from the 0.7% rise reported in August. The latest FOMC meeting minutes also eased investor sentiment on Wall St overnight with signals that just one more interest rate hike may be needed in this monetary tightening cycle to ensure inflation remains under control in a downward trend toward the target 2% reading.Over in Europe, markets closed mixed on Wednesday, a day after the markets reported the best session in 11-months. The STOXX600 added 0.2% on Wednesday driven by food and beverage stocks while retail stocks fell 2.1%. Germany’s DAX rose 0.24% on Wednesday, while the French CAC fell 0.44% and, in the UK, the FTSE100 lost 0.11%.Shares in luxury brands retailer LVMH group fell over 6% after reporting a slowdown in growth.Locally yesterday, the ASX200 rose just shy of 0.7% led by the tech sector jumping 1.7% while consumer discretionary and industrials stocks added 1.23% and 1.12% respectively. All 11 sectors closed the midweek session higher for a second consecutive session.  Talks of a Chinese stimulus package worth at least 1 trillion yuan for spending on infrastructure to further stimulate the economic recovery in the world’s second largest economy. These reports boosted local miners’ yesterday amid the outlook for higher demand of Australian produced commodities, especially iron ore.Qantas shares rallied almost 2% on Wednesday after chairman Richard Goyder agreed to leave the embattled airline’s board next year, while Telstra shares came under pressure after the telco giant announced plans to buy Versent, a cloud consulting company, for $267.5m in a bid to further its cloud business expansion and digitisation.What to watch today:Ahead of the local trading session here in Australia the SPI futures are anticipating the ASX to open 0.08% higher on Thursday.On the commodities front this morning oil is trading 3.12% lower at US$83.29/barrel, gold is up 0.76% at US$1874/ounce and iron ore is down 1.73% at US$113.50/tonne.AU$1.00 is buying US$0.64, 95.56 Japanese Yen, 52.24 British Pence and NZ1.06.Trading Ideas:Bell Potter has increased the 12-month price target on Eagers Automotive (ASX:APE) from $15.25 to $15.50 and maintain a hold rating on the leading Australian automotive retailer following the company announcing it has entered into a non-binding agreement to acquire a portfolio of dealerships and key strategic properties located across Melbourne and the Mornington region of Victoria from a group of companies for a total purchase price of $245m comprising $111m in good will, $100m for the properties and $34m of net assets.And Trading Central has identified a bullish signal on Terracom (ASX:TER) following the formation of a pattern over a period of 25-days which is roughly the same amount of time the share price may rise from the close of $0.42 to the range of $0.57-$0.61 according to standard principles of technical analysis.

Over in the US on Tuesday, a sharp decline in Treasury yields boosted equities on Wall Street to extend this week’s rally into Tuesday as investors assess the geopolitical and long-term risks of the war in Israel. The Dow Jones rose 0.4%, the S&P500 added 0.6% and the Nasdaq rose 0.7%. Easing oil prices on Tuesday also boosted investor sentiment after the price of the commodity rose 5% on Monday on concerns of the long-term effect of the war in Israel. Investors in the US are also looking ahead with optimism at the release of third-quarter earnings results out later this week.In Europe on Tuesday, markets reversed Monday’s losses to close higher across the region despite rising tensions in the Middle East. The STOXX600 rose 2% boosted by travel stocks rising 3.9% despite the global uncertainty around travel as airlines cancel flights to Israel, while mining stocks rose 2.9%. Germany’s DAX added 1.95% on Tuesday, the French CAC rose 2.01%, and, in the UK, the FTSE100 lifted 1.82%.The rally on the ASX extended into a third session on Tuesday with the ASX200 gaining 1.01% to close above 7000 points again at the closing Bell, driven by the utilities sector jumping 4.17% followed by technology stocks climbing just over 3%. All 11 sectors closed Tuesday’s session in the green. The local rally followed a positive night in the US overnight after some Fed Officials suggested the recent surge in long-term treasury yields may reduce the need for the Fed to raise its benchmark interest rate again. Rate sensitive sectors in Australia were the best performers on Tuesday, including tech and REIT stocks.Origin Energy did most of the heavy lifting in the Utilities sector on Tuesday, closing the session up 5.5% after Australia’s competition watchdog the ACCC approved Brookfield and EIG Partners’ $18.7bn takeover offer for the leading energy wholesaler.The local market was also boosted yesterday by Westpac Consumer Confidence data showing a rise of 2.9% for October which well exceeded economists’ expectations of a 0.7% decline and NAB Business Confidence Data also released showed a reading of 1 point which was the third straight month of a steady reading and above the -2 points expected by markets.What to watch locally:Ahead of the local session here in Australia the SPI futures are suggesting the ASX will extend its green run into a 4th straight session, by opening the midweek session up 0.49%.On the commodities front this morning, oil is trading 0.6% lower at US$85.84/barrel, gold is down just 0.06% at US$1859/ounce and iron ore is flat at US$119.50/tonne.AU$1.00 is buying US$0.64, 95.45 Japanese Yen, 52 British Pence and NZ$1.06.Trading Ideas:Bell Potter has decreased the 12-month price target on Paradigm Biopharmaceuticals (ASX:PAR) from $2.20 to $1.40 and maintain a speculative buy rating on the Australian-based biotech company following the company releasing a report on the 12-month efficacy data from PARA_OA_008 yesterday. The study continued to show patients on the highest dose continued to show significant reductions in pain along with improvements in function 12-months after dosing. Despite the promising outlook and study results, the stock has been sold off as the sector remains out of favour with investors hence the downgrade to the price target reflecting an increased discount rate in the DCF model and earnings adjustments to FY24/FY25.And Trading Central has identified a bullish signal on Sandfire Resources (ASX:SFR) following the formation of a pattern over a period of 17-days which is roughly the same amount of time the share price may rise from the close of $6.25 to the range of $6.75-$6.90 according to standard principles of technical analysis.

For a limited time only, we are giving you exclusive access to 3 Bell Potter stock reports each week, delivered straight to your inbox. And as a bonus, you will go in the draw to win a share of 3 million Velocity Frequent Flyer Points. The insights from these reports are something you can’t find with any other online broker and is what we use to provide you with our daily trading ideas and market analysis. Gain extra entries by joining Bell Direct and placing your first trade. This offer is available to investors new to Bell Direct.See offer Terms & Conditions here.Wall Street closed higher over night as investors assess rising geopolitical tensions caused by the conflict between Hamas and Israel and the potential ramifications for the energy market. Defence and oil related companies rallied on Monday amid investor fears of a prolonged period of war in Israel. In Europe overnight, markets closed lower as investors in the region also assessed the impact of geopolitical turmoil in the Middle East. The STOXX600 fell 0.3%, weighed down by travel and leisure stocks falling 2.4%, while oil and gas stocks rose 2.9% on the rising price of oil. Germany’s DAX fell 0.67% on Monday, the French CAC lost 0.55% and, in the UK, the FTSE100 closed just 0.03% lower. The local market opened the new trading week on a positive note with the ASX200 adding 0.23% at the closing bell on Monday buoyed by the energy sector jumping 3.04% as the price of oil rose 4% on geopolitical tensions escalating in the Middle East. The gold miners also rallied yesterday amid a spike in the price of the precious commodity which led to De Grey Mining jumping 8.07% while Capricorn Metals added 5.35%, and Newcrest Mining lifted 4.74%.Popular Mexican fast food chain Guzman y Gomez is reportedly eyeing an IPO in Australia at the end of next year with two CEOs at the helm according to founder Steven Marks. Magellan Financials’ share price took a further hit yesterday, with the funds manager closing the day down over 7% as investors continue piling out, on the back of the company’s September trading update indicating a further $4bn in outflows were realised during the month taking total funds under management to $35bn. What to watch today: Ahead of the local trading session here in Australia the SPI futures are anticipating the ASX to open Tuesday’s session 0.43% higher at market open this morning.On the commodities front this morning, oil is up 3.91% at 86 US dollars and 4 cents a barrel, gold is up 1.22% at 1854 US dollars an ounce and iron ore is flat at 119 US dollars and 50 cents a tonne.Oil price jumped 4% after Hamas invaded Israel over the weekend – at this point there appears to be no direct impact on oil supply and demand however a prolonged war will definitely have some form of impact.AU$1.00 is buying US$0.64, 95.05 Japanese Yen, 52.12 British Pence and NZ$1.06.Trading Ideas:Bell Potter maintains a buy rating on Aeris Resources (ASX:AIS) and has increased its price target to 30 cents with a current share price of 18.5 cents. It’s near term outlook remains highly leveraged to increasing copper grades at the Tritton copper mine, where high grade ore sources have commenced production and exploration success is likely to sustain it.And Bell Potter maintains a buy rating on Smartpay Holdings (ASX:SMP) despite lowering their price target by 4 cents, with a current share price of $1.53. Their upcoming results should provide for further operating delta with a focus on unit growth and cost maintenance.

Wall Street rallied on Friday despite jobs data soaring past expectations to provide further support of a soft landing in the U.S. as opposed to a recession. The Dow Jones rose 0.87% on Friday while the S&P500 added 1.18%, and the Nasdaq rose 1.6%. The US economy added 366,000 jobs in September, more than double economists’ expectations of 170,000 jobs being added. Wages rose less than expected in September though which is a positive sign for inflation. Yields initially rose after the release of the jobs report however retreated in afternoon trade with the 10-year treasury yield settling at 4.78% on Friday. The US unemployment rate remained unchanged at 3.8% which was slightly higher than economists had forecast.Over in Europe, markets rallied on Friday following the release of robust jobs data in the U.S. The STOXX600 rose 0.8%, Germany’s DAX rose 1.06%, the French CAC added 0.88% and, in the UK, the FTSE100 rose 0.58%. Shares in electronic giant Philips fell 7% on Friday after the US FDA criticised the Dutch health tech company’s handling of a major product recall, with the FDA claiming they do not believe ‘testing and analysis Philips has shares to date are adequate to fully evaluate the risks posed to users from the recalled devices’.Locally on Friday, the ASX200 rose 0.41% to shake off some of the week’s heavy losses driven by a strong rally for financial and materials stocks while energy stocks came under pressure amid the falling price of oil.Magellan Financial tanked 18.5% after the asset manager reported a further $4bn drop in funds under management for September to $35bn.What to watch today: Ahead of the local trading session here in Australia the SPI futures are expecting the ASX to open 0.83% higher on the back of Wall Street’s rally on Friday.On the commodities front this morning, oil has recovered to trade 0.58% higher at US$82.79/barrel, gold is up 0.68% at US$1832/ounce and iron ore is flat at US$119.50/tonne.AU$1.00 is buying US$0.64, 94.87 Japanese Yen, 52 British Pence and NZ$1.07.Trading Ideas:Bell Potter has increased the price target on Polynovo (ASX:PNV) from $2 to $2.05 and maintain a buy rating on the medical device company following the release of a trading update outlining total revenue for July/August of $14.9m with US sales accounting for $10.6m while key new jurisdictions for growth in FY24 include Asia, Canada and Europe. The Biomedical Advanced Research and Development Authority will also provide an additional US$10m in funding for the pivotal trial program of Polynovo’s NovoSorb.And Trading Central has identified a bullish signal on Rio Tinto (ASX:RIO) following the formation of a pattern over a period of 30-days which is roughly the same amount of time the share price may rise from the close of $113.19 to the range of $125-$128 according to standard principles of technical analysis.Don’t forget - for a limited time only, we are giving you exclusive access to 3 Bell Potter stock reports each week, delivered straight to your inbox. And as a bonus, you will go in the draw to win a share of 3 million Velocity Frequent Flyer Points. That's enough Velocity Points for 10 return flights from Sydney to Los Angeles! The insights from these reports are something you can’t find with any other online broker and is what we use to provide you with our daily trading ideas and market analysis. Gain extra entries by joining Bell Direct and placing your first trade.  This offer is available to investors new to Bell Direct here.See offer terms & conditions here. 

With the prospect of a US government shutdown earlier in the week causing a sell-off on Wall St, and subsequently, global markets, the last-minute stopgap bill passing by Congress slightly eased investor sentiment. The merry-go-round in the US keeps turning.Also, this week, the RBA held the nation’s cash rate at 4.1% for a fourth straight month.In this week's wrap, Grady covers:(0:09) fears surrounding US government shutdown,(1:03) the argument in congress,(2:04) the consensus of ‘higher for longer’,(3:23) the risk of inflation remaining sticky globally,(4:33) the best performing stocks in the ASX200,(5:20) the most traded stocks & ETFs by Bell Direct clients, and(5:53) five economic news items to watch out for.Read article transcript here.

Wall St closed lower on Thursday as investors start counting down to the release of key jobs data on Friday. The S&P 500 and the tech-heavy Nasdaq ended the day just over 0.1% lower each whilst the Dow Jones closed flat, only down 0.03%.Thursday losses were led by the consumer staples sector with beverage company Molson Coors retreating 6.3%, followed by Mondelez International and Clorox declining more than 5% each.Over in Europe, markets closed higher following a retreat in US treasury yields. The STOXX600 ended its three-day losing streak, finishing 0.3% higher lead by travel stocks which rallied 1.5%. The UK’s FTSE100 closed just over half a percent higher on Thursday, while Germany’s DAX fell 0.20% and the French CAC ended the trading session flat.Locally yesterday, the Australian market closed 0.51% in the green following strong rallies from the real estate and information technology sectors which finished 2.10% and 1.73% higher respectively. This was slightly offset by the energy sector, which fell 0.89% yesterday. What to watch today: The Australian share market is set to open slightly higher, with the SPI futures suggesting a rise of 0.03% at the open this morning.On the commodity front this morning,Oil is trading 2.08% lower at 82 US dollars and 46 cents a barrel with the four-week average for gasoline demand reaching its lowest point for this time of year since 1998.Gold is down slightly by 0.05% to 1820 US dollars an ounce as the US dollar and treasury yields pulled back on weaker-than-expected US job data. And iron ore is trading flat at 119 US dollars and 50 cents a tonne following a hampered outlook construction materials in China.Trading Ideas: Bell Potter maintains a speculative buy rating on Strike Energy (ASX:STX) and has an unchanged valuation of $0.58 per share with its current price at $0.44 per share. This speculative buy rating is maintained as Strike Energy owns the largest reserves plus contingent resources position in Perth basin and recent market consolidation has highlighted the tightening supply-demand fundamentals in the WA domestic gas market.And Trading Central has identified a bullish signal in Helia Group (ASX:HLI), indicating that the stock price may rise from the close of $3.58 to the range of $4.02 to $4.12, on a pattern formed over 18 days according to the standard principles of technical analysis.Less than a month to go! For a limited time only, we are giving you exclusive access to 3 Bell Potter stock reports each week, delivered straight to your inbox. And as a bonus, you will go in the draw to win a share of 3 million Velocity Frequent Flyer Points. The insights from these reports are something you can’t find with any other online broker and is what we use to provide you with our daily trading ideas and market analysis. Gain extra entries by joining Bell Direct and placing your first trade. This offer is available to investors new to Bell Direct: https://shorturl.at/biACY

Favourable jobs data and easing treasury yields boosted Wall St to a positive close on Wednesday with the Dow Jones snapping a losing streak by adding 127 points or 0.4%, while the S&P500 rose 0.8% and the tech-heavy Nasdaq lifted 1.3%. US private payrolls data showed the economy added 89,000 private payrolls last month which was well below the forecasted 160,000 in a sign the tight labour market in the US is starting to ease.Over in Europe, markets closed lower on Wednesday amid dampened global sentiment over rising interest rates and the outlook for inflation to remain stubbornly high. Locally on Wednesday, the ASX200 extended its red run, closing the session down 0.77% to an 11-month low as financial and communication services stocks weighed on the key index, while the utilities sector was the only sector to close the midweek session higher. Lithium takeover target Liontown Resources added 1% on Wednesday after Gina Rinehart further increased her stake in the near-term lithium producer, taking her holding to 14.7%Biotech company Noxopharm soared 85% on Wednesday after announcing its CRO-67 preclinical drug candidate for the treatment of pancreatic cancer has been granted orphan drug designation status by the FDA in the US.What to watch today: Ahead of the local trading session here in Australia, the SPI futures are anticipating the ASX to open Thursday’s session 0.45% higher on the back of Wall Street’s recovery overnight.On the commodities front this morning oil is down 4.96% at US$84.80/barrel, gold is down just 0.09% at US$1821.10/ounce and iron ore is flat at US$119.50/tonne.Trading Ideas: Bell Potter has initiated coverage of Clinuvel Pharmaceuticals (ASX:CUV) with a buy rating with a 12-month price target of $24/share. Bell Potter sees the company’s distribution of Scenesse, the only approved treatment for patients suffering from a rare inherited disease called EPP, as a strong growth outlet over the coming years, with a 3-year Compound Annual Growth Rate of 34% to $78m in FY23. The company also has diversification beyond Scenesse through conducting a range of pharmaceutical R&D activities and new product launches to diversify its commercial opportunities.And Bell Potter has increased the price target on Adacel Technologies (ASX:ADA) from 75cps to 80cps and maintain a buy rating on the leading global provider of simulation and control systems for civil aviation and defence sectors following the company announcing it has been awarded a new contract from the Federal Aviation Administration valued at US$59m over five years. Adacel lost this services contract to a competitor 6-years ago and the new contract award represents the hardware component only and does not include any software so another contract may be forthcoming for the upgrade of the software.As a reminder, for a limited time only, we are giving you exclusive access to 3 Bell Potter stock reports each week, delivered straight to your inbox. And as a bonus, you will go in the draw to win a share of 3 million Velocity Frequent Flyer Points. The insights from these reports are something you can’t find with any other online broker and is what we use to provide you with our daily trading ideas and market analysis. Gain extra entries by joining Bell Direct and placing your first trade. This offer is available to investors new to Bell Direct: https://shorturl.at/biACY

In New York on Tuesday, rising treasury yields and unfavourable economic data continued to pressure equities with the Dow Jones closing the session down 1.29% in its worst session since March, while the S&P500 and Nasdaq fell 1.37% and 1.87% respectively. Tuesday’s 1.3% fall for the Dow Jones tipped the key index into the red for 2023, with the index down 0.4% year to date at the closing bell. The 10-year Treasury yield hit 4.787% on Tuesday, reaching its highest level since 2007 as traders assess the possibility of further monetary tightening by the Federal Reserve. Yields spiked and equities fell on Tuesday following the release of the August job openings survey which signalled 9.6 million open roles in the month, which was higher than economists were expecting and indicates the labour market in the US remains tight.In Europe, markets closed lower on Tuesday as investors digested unfavourable economic data out in the region indicating inflation remains stubbornly high. Italian new car registrations data for September came in at a rise of 22.8% from a rise of 12% in August in a sign consumers are still spending in the region despite rising interest rates. The STOXX600 fell 1.1% on Tuesday while Germany’s DAX lost 1.06%, the French CAC fell 1.01% and, in the UK, the FTSE100 shed 0.54%.The local market fell again on Tuesday as global markets continue taking lead from the US whereby sentiment is currently dampened by the prospect of a potential government shutdown. The ASX200 closed Tuesday’s session down 1.28% to a near 6-month low with every sector ending the session lower aside from healthcare. Energy stocks took the biggest hit yesterday as the sector closed down 3.7% on the sliding price of oil. Rising bond yields especially in the US also continue to sway investors away from the higher risk equities market in favour of less risky returns through bonds.The RBA held the nation’s cash rate at 4.1% for a fourth straight month in the October meeting yesterday and the first with Michele Bullock as Governor of the RBA. As with the last few months of holds though, the commentary surrounding the rate pause decision focused on the possible need for further tightening in the future should inflation continue to show signs of remaining high. Australia’s wage price index, consumer price index, housing and rent, energy and producer price index all continue to respectively rise which are the key factors of inflation in Australia while unemployment also remains at 3.7%. What to watch today:Ahead of the local trading session here in Australia the SPI futures are anticipating the ASX to open the midweek session down 0.5%.On the commodities front this morning, oil is trading 0.75% higher at US$89.50/barrel, gold is down 0.14% at US$1824/ounce and iron ore is flat at US$119.50/tonne.AU$1.00 is buying US$0.63, 93.88 Japanese Yen, 52.42 British Pence and NZ$1.07.Trading Ideas:Bell Potter has decreased the 12-month price target on Avita Medical (ASX:AVH) from $7.45 to $6.85 and maintain a speculative buy rating on the medical tech company after the FDA issued a ‘Substantive Information Request’ in relation to the pre-market approval supplement application for Avita’s RECELL GO product. The most substantive request relates to additional statistical analysis for cell phenotyping with RECELL GO i.e. how many and what type of cells are available using in a sample prepared with RECELL GO vs the legacy Recell Kit.And Trading Central has identified a bullish signal on Beacon Lighting (ASX:BLX) following the formation of a pattern over a period of 78-days which is roughly the same amount of time the share price may rise from the close of $1.90 to the range of $2.40 to $2.55 according to standard principles of technical analysis. 

Before we dive into the Morning Bell, we have an exciting announcement. For a limited time only, we are giving you exclusive access to 3 Bell Potter stock reports each week, delivered straight to your inbox. And as a bonus, you will go in the draw to win a share of 3 million Velocity Frequent Flyer Points. The insights from these reports are something you can’t find with any other online broker and is what we use to provide you with our daily trading ideas and market analysis. Gain extra entries by joining Bell Direct and placing your first trade. This offer is available to investors new to Bell Direct here: https://shorturl.at/biACY. See offer terms & conditions here: https://shorturl.at/qt189If you’re an existing client, stay tuned as we’ll have a Velocity Frequent Flyer announcement for you soon.Now into the Morning Bell, Wall St closed mixed as US Congress fractures the thought of a government shutdown. The US government has been dominating news headlines recently after a group of Republicans refused to support funding legislation until government agencies impose stricter border provisions, which has seen the US now facing a government shut down. The tech heavy Nasdaq closed Monday’s session 0.67% higher whilst the S&P 500 traded flat and the Dow Jones closed marginally lower. In terms of US stocks, Discover shares finished Monday up nearly 5% with Nvidia and medical device manufacturer Insulet gaining over 3% yesterday.Over in Europe, markets closed lower on Monday following the STOXX600 ending it’s worst performing quarter of the year. The UK’s FTSE100 retreated 1.28% with the German DAX and French CAC following suit both closing just over 0.90% lower each.Locally yesterday, markets closed 0.22% lower with the consumer staples and health sectors leading losses. This was however, offset by a 0.64% rise in the utilities sector. What to watch today:The Australian share market is set to open lower, with the SPI futures suggesting a fall of 1.36% at the open this morning.In terms of economic data, the RBA will release their interest rate decision today, with economists expecting a hold at 4.1%, the same as September.On the commodity front this morning, Oil is down 2.5% to 88 US dollars and 51 cents a barrel following concerns about high borrowing costs that were highlighted by optimistic PMI results. Gold is down 1.11% to 1827 US dollars an ounce, after higher rates in the US reduces the appeal of the precious metal. And iron ore is flat at 119 US dollars and 50 cents following muted construction outlook in China.Trading Ideas:Bell Potter maintains a speculative buy rating on Cyclopharm (ASX:CYC) and his increased its price target from $3.25 to $4.25 with a current share price of $2.83. The speculative buy rating is based off the expectation that there will be strong revenue growth off a modest base over the next three years.And Trading Central has identified a bearish signal on Transurban Group (ASX:TCL), indicating that the stock price may fall from the close of $12.67 to the range of $11.70-$11.90 on a pattern formed over 6 days, according to the standard principles of technical analysis.

Fears of a government shutdown prompted Wall St to close mostly lower on Friday to end the worst month of 2023 on the NYSE. The Dow Jones fell 0.5%, the S&P500 lost 0.27% and the tech-heavy Nasdaq rose 0.14%. In early trade on Friday’s session, all three key indices were trading higher as investors welcome the latest personal consumption expenditures price index reading of a 0.1% rise in August and up 3.9% annually. Economists were polling a 0.2% rise for August in the data the federal reserve monitors closely as a key reading of inflation. The sell off in afternoon trade was spurred on by investor concerns of a potential government shutdown following the House GOP leaders failing to pass a short-term spending bill on Friday.Over the month of September, the Dow Jones fell 3.5%, the S&P500 shed 4.9%, and the Nasdaq dropped 5.8%.Over in Europe, markets closed higher on Friday driven by a rally for technology stocks in the region. The STOXX600 added 0.5% on Friday, Germany’s DAX rose 0.41%, the French CAC added 0.26%, and in the UK, the FTSE100 gained 0.08%. Eurozone inflation data was the driver of the rally in Europe on Friday with the latest reading coming in at 4.3% for September, its lowest level since October 2021.Despite the positive session on Friday, the markets in Europe reported their worst quarter of 2023.Locally on Friday the ASX200 rose 0.34% driven by the materials sector adding 1.22% while consumer discretionary stocks rose almost half a percent. Core Lithium was the winning stock of the session, soaring over 19% after the lithium miner released its first full-year profit as a lithium producer with revenue of $50.6m and profit of $10.8m for FY23.Liontown Resources on the other hand fell 1.3% on Friday after the miner lifted the estimated capital costs on its Kathleen Valley Lithium project to $951m which is a jump from the $895m estimate announced in January.What to watch today:Ahead of the local trading session here in Australia the SPI futures are expecting the ASX to open the Monday’s session down 0.54% to start the new trading month lower.AU$1.00 is buying US$0.64 cents, 96.19 Japanese Yen, 52.46 British Pence and NZ$1.07.On the commodities front this morning oil is down 1% at US$90.79/barrel, gold is down 0.88% at US$1848.19/ounce and iron ore is flat at US$119.50/tonne.Trading Ideas:Bell Potter has slightly decreased the 12-month price target on Nufarm (ASX:NUF) from $7.00 to $6.75 and maintain a buy rating on the leading supplier of agricultural chemicals, seeds and treatments globally, following the release of a brief FY23 guidance update. The company has reduced its FY23 EBITDA guidance to $430m-$440m which is below consensus expectations of $451m amid inventory destocking and North America’s late season creating headwinds in H2FY23. A reversal of these trends in FY24 along with growth beyond yield program are likely to see a reasonable rebound in earnings in FY25-FY26.And Trading Central has identified a bullish signal on Incitec Pivot (ASX:IPL) following the formation of a pattern over a period of 10-days which is roughly the same amount of time the share price may rise from the close of $3.14 to the range of $3.35 to $3.39 according to standard principles of technical analysis.

Ahead of the RBA’s rate announcement next week, we look at the predicted rate outlook for the remainder of CY23, what this means for companies and most importantly, what the outlook means for your portfolio this festive season.In this week's wrap, Grady covers:(0:12) fears and expectations around the cash rate,(0:27) Tuesday’s RBA meeting,(1:56) what ‘higher for longer’ means for businesses and individuals,(2:29) two companies who excelled in the FY23 reporting season,(3:04) interest rate impacts on portfolios and investment decisions,(4:46) the best performing stocks in the ASX200,(6:12) the most traded stocks & ETFs by Bell Direct clients, and(6:27) five economic news items to watch out for.

Wall St finished higher on Thursday, however, is still on track for its worst month of the year. All three major indexes finished in the green with the Dow Jones up 0.35%, the S&P 500 up 0.59% and the tech-heavy-Nasdaq up 0.87%.The US ten-year treasury hit a 15 year high as data came out on Thursday highlighting the still-resilient labour market with jobless claims coming in lower than expected. In terms of US stocks, the communications services performed strongly with a 2% gain in Meta Platforms, whilst Intel and Cisco Systems rallied 1.6% and 1.3% respectively.Over in Europe, markets closed higher, snapping a 5-day losing streak following strong performances in mining and banking stocks. The STOXX600 closed 0.36% higher thanks to help from the basic resources sector following a rise in Chinese industrial profits. The German DAX and the French CAC finished Thursday strongly, rallying 0.70% and 0.63%, whilst the UK’s FTSE100 closed marginally higher by 0.11%.Locally yesterday, the ASX 200 ended Thursday marginally lower by 0.08% with most sectors finishing in the red, including the consumer discretionary sector which lost over 1%. This was offset by the energy sector which saw a 2.96% increase yesterday.Washington H Soul Pattinson results were released yesterday, leaving investors disappointed despite increasing dividends by over 20%. There could possibly be two contributing factors to this. Investors may have been taking profits from the recent run the share price has been on or it could be from Brickworks releasing results on the same day with underlying profit falling 32% in FY23. Washington H Soul Pattinson is the largest share holder in Brickworks, so the rising costs that impacted Brickworks underlying profits may have caused investor sentiment to slide with both Brickworks and Washington H Soul Pattinson closing Thursday’s session down over 6% each.What to watch today: The Australian share market is set to open higher, with the SPI futures suggesting a rise of 0.64% at the open this morning.In terms of commodities,Oil is down 2.07% to 91 US dollars and 74 cents a barrel with official data showing that US crude inventories fell by 2.2 million barrels last week. Gold has fallen 0.52% to 1864 US dollars an ounce following a strong US dollar. And iron ore is up 1.28% to 119 US dollars a tonne following a drop in supply with steel mills limiting production.Trading Ideas: Bell Potter maintains a buy rating on Nufarm (ASX:NUF), despite lowering the price target from $7 to $6.75 with a current share price of $4.72. The buy rating remains unchanged following predictions of a reasonable rebound in earnings in FY24.And Trading Ideas has identified a bearish signal in Hearts and Minds Investments (ASX:HM1), indicating that the stock price may fall from the close $2.30 to the range of $2.17-$2.19 over a pattern formed in 50 days, according to the standard principles of technical analysis.

Inflationary drivers rising sparked a mixed session on Wall Street overnight as the price of oil and bond yields respectively rose which dampened investor sentiment in equities. The Dow Jones fell 0.2%, the S&P500 edged just 0.02% higher and the Nasdaq rallied 0.22% following a turbulent few session for the tech-heavy index. The benchmark on the 10-year treasury yield hit its highest level since 2007, while the 2-year treasury yield also climbed. Energy stocks were naturally the best performers on Wall St overnight amid the price of oil rising 3%. Inflation remains a key concern in the U.S. with volatility in investor sentiment expected to continue over the coming weeks as further economic data is released.Over in Europe, markets closed at a 6-month low on Wednesday as investor sentiment in the region continues to be dampened by the state of the global economy, rising interest rates and inflationary concerns. The STOXX600 fell 0.2%, Germany’s DAX lost 0.25%, the French CAC shed 0.03%, and in the UK, the FTSE100 fell 0.43%. Oil and gas stocks did most of the heavy lifting in Europe on Wednesday following that uptick in the price of oil which offset some of the losses among other sectors like insurance stocks. The RBA’s rate decision headache worsened yesterday after Australia’s CPI monthly indicator data, the key inflation reading for the country, came in at an acceleration to 5.2% for the 12-months to August. While this was in line with economists’ expectations, it is an increase from the 4.9% rise in July and provides further support for the RBA to consider raising rates again or maintaining the cash rate at 4.1% for longer to ensure inflation comes down to the target range of 2-3%. The key drivers of the boosted inflation reading for August were housing, transport, food and non-alcoholic beverages, insurance and financial services. When the RBA meets next week to announce the interest rate decision, the market is currently factoring in just an 11% chance of a rate hike.The market fell in afternoon trade following the release of CPI data, leading to the ASX200 closing the midweek session down 0.11% weighed down by the tech sector falling nearly 1%. Star Entertainment Group tumbled over 9% after the embattled casino operator raised $565m from institutional investors through offering new shares at 60cps.At the other end of the market, Tamboran Resources rallied 11.5% after announcing the upgrade of its gas resources to 2 trillion cubic feet at its 100%-owned Beetaloo Basin.What to watch today:Ahead of the local trading session here in Australia, the SPI futures are anticipating the ASX to open Thursday’s session down 0.18%.On the commodities front this morning, oil is trading just shy of 4% higher at US$93.93/barrel amid data showing crude inventories in the US fell by a much bigger-than-expected amount last week, gold is down 1.26% at US$1876.55/ounce, and iron ore is down 1.26% at US$117.50/tonne.AU$1.00 is buying US$0.64, 94.92 Japanese Yen, 52.65 British Pence and NZ$1.07.Trading Ideas:Bell Potter has initiated coverage of COG Financial Services (ASX:COG) with a buy rating and a price target of $1.73. Bell Potter’s analyst sees COG’s recent acquisitions will add 182 broker firms nationally across the car and lifestyle markets for COG and as a result, Bell Potter expects an uplift of $833m in total funding volumes with improved cross-pollination into higher margins parts of the Group.And Trading Central has identified a bullish signal on Austal (ASX:ASB) following the formation of a pattern over a period of 36-days which is roughly the same amount of time the share price may rise from the close of $1.82 to the range of $2.29 to $2.39 according to standard principles of technical analysis. 

Over on in the US, Wall Street closed lower on Tuesday as the release of home sales and consumer confidence data in the region sparked investor concerns over the state of the US economy.  The Dow Jones is fell 1.14% in its worst session since March, the Nasdaq retreated 1.57% and the S&P500 is lost 1.47% at the closing bell on Tuesday.August new home sales data missed expectations with homes under contract totalling 675,000 for the month, down 8.7% on July and below economists’ expectations of 695,000 which would have represented a lesser decline from July. The Conference Board’s consumer confidence index fell to 103 points in September, down from 108.7 in August and also below economists’ expectations of 105.5 points. Both of these readings falling short of economists’ expectations and being greater declines than expected indicate the greater impact interest rate hikes are having on the US economy to date.Over in Europe, markets closed lower for a fourth straight session as negative investor sentiment impacted global stocks. The STOXX600 fell 0.6% on Tuesday weighed down by technology and automaking stocks falling 2% and 1.2% respectively, while Germany’s DAX lost just shy of 1%, the French CAC fell 0.7% and, in the UK, the FTSE100 closed flat. The muted day in the UK follows signs that the Bank of England and European Central Bank will hold rates steady while the Federal Reserve in the US may have another hike in store. Rising bond yields in the region are also weighing on European markets as investors opt for safer returns alternatives to equities in the current market environment.The ASX fell 0.54% yesterday as interest-rate sensitive sectors weighed on the key index with the REIT and Tech sectors shedding 1.35% and 1.93% respectively as the market prepares for interest rates to remain higher for longer across not only locally, but among international economies too. Rising bond yields are also weighing on the ASX as investors turn to bonds over the higher-risk equities in the current environment.Pro Medicus popped 9% on Tuesday after the leading health imaging company announced its wholly owned US subsidiary, Visage Imaging, has signed a $140m, 10-year contract with the largest not-for-profit healthcare system in Texas, Baylor Scott & White Health (BSWH). What to watch today:Ahead of the local trading session here in Australia the SPI futures are expecting the ASX to open 0.34% lower following the slide in global investor sentiment overnight.On the commodities front, oil is trading 1.07% higher at US$90.64/barrel, gold is down 0.83% at US$1899/ounce and iron ore is down 3.64% at US$119/tonne.AU$1.00 is buying US$0.64, 95.29 Japanese Yen, 52.73 British Pence and NZ$1.08.Trading Ideas:Bell Potter has raised the price target on Pro Medicus (ASX:PME) from $70/share to $75/share and maintain a hold rating on the leading health imaging IT provider after the company announced the signing of its largest ever deal in the US through a 10-year contract with Baylor Scott & White Health. With a shortage of radiologists and ongoing cuts to Medicare re-imbursement for radiology, companies like Pro Medicus are also expected to continue working with AI providers and researchers to facilitate the provision of AI tools in radiology, however the company is not developing its own applications as understood by Bell Potter.And Trading Central has identified a bearish signal on Charter Hall Long WALE REIT (ASX:CLW) following the formation of a pattern over a period of 40-days which is roughly the same amount of time the share price may fall from the close of $3.28 to the range of $2.50 to $2.65 according to standard principles of technical analysis.

Wall St closed higher on Monday, ending a 4-day losing streak, with all three major indexes ending the day in the green. The S&P 500 and the tech heavy Nasdaq both finished nearly half a percent higher, whilst the Dow Jones finished marginally higher by 0.13%.JP Morgan upgraded chemical company Dow which saw it rise 1.7% with Amazon shares also increasing by 1% following an announcement of an investment of $4 billion in artificial intelligence firm Anthropic. Generally speaking, US stocks have struggled in September as the Federal Reserve signaled that higher interest rates are there to stay, therefore sending bond yields higher.Over in Europe, markets finished lower on Monday following a number of Central Bank rate decisions at the end of last week and the potential of higher interest rates over a long period of time. The STOXX600 ended Monday down 0.6% with nearly all sectors finishing in the red. Travel and leisure stocks led losses by 3%, followed by household goods which lost 2% on Monday. The FTSE 100 ended 0.78% lower, whilst the German DAX and French CAC both closed nearly 1% lower to end the day.Locally yesterday, the ASX 200 ended the day 0.11% higher led by advances in both the information technology and the communications services sectors up 1.92% and 1.19% respectively. This was slightly offset by the materials sector which retreated 0.73%.What to watch today: The Australian share market is set to open lower, with the SPI futures suggesting a fall of 0.10% at the open this morning.In terms of commodities, Oil is down 0.20% to 89 US dollars and 85 cents a barrel, as the oil rally stalled last week, following the Federal Reserve’s decision to maintain rates. Gold is down 0.49% to 1915 US dollars an ounce as a strong dollar has a negative effect on the appeal of the metal resource. And iron ore is up 1.65% to 123 US dollars and 50 cents a tonne, following an increase in production in steel mills in the short run to undercut potential output cuts from the Chinese government.Trading Ideas: Bell Potter maintains a buy rating on Technology One (ASX:TNE) and has increased its price target by 25 cents to $17.75 with a current share price of $15.26. This recommendation has been upgraded from a hold to a buy as the FY23 results coming out on the 21st of November are expected to be modestly above the guidance and consensus.And Trading Central has identified a bullish signal in Baby Bunting Group (ASX:BBN), indicating that the stock price may rise from the close of $2.17 to the range of $2.60-$2.70 on a pattern formed over 30 days, according to the standard principles of technical analysis.

It was a turbulent session on Friday and week last week on Wall Street as investors digested signals that the Fed intends to continue raising interest rates for longer despite holding the U.S. cash rate at 5.25-5.5% at the September meeting. The Dow Jones fell 0.31% on Friday while the S&P500 and Nasdaq lost 0.23% and 0.09% respectively, marking a fourth consecutive day of losses on Wall St.Bond yields also surged on Friday after the central bank forecasted one more rate hike for 2023, which further depleted the attractiveness of equities compared to bonds in the eye of investors.Website building software company Squarespace rallied 5% on Friday after UBS initiated coverage of the company with a buy rating, while book and media publishing company Scholastic plummeted over 14% on missing earnings expectations on the top and bottom lines.Over in Europe, investor sentiment in the region was dampened on Friday by signals of further rate hikes out of the Fed in the U.S. The STOXX600 fell 0.3% on Friday taking the week’s losses to 1.57%, while Germany’s DAX fell 0.09%, the French CAC lost 0.4% and, in the UK, the FTSE100 rose just 0.07% to close out the week. Higher for longer interest rates is also a fear of European investors from the ECB.On Thursday last week, both the Swiss National Bank and the Bank of England ended their respective rate runs but said there is no room for complacency and will raise again if required.Locally on Friday, the ASX rose just 0.05% to close the final trading session of the week in the green after a dull few days of trading. Real Estate stocks were the worst performers on Friday while the utilities and energy sectors led the gains on the market. Costa Group rose 6.5% on Friday after the agricultural company entered into a Scheme Implementation Agreement with a consortium led by PSP to acquire the remaining shares in Costa Group that the consortium does not already own at $3.20ps.What to watch today:Ahead of the local trading session here in Australia the SPI future are anticipating the ASX to open the new trading week down 0.34%.On the commodities front this morning oil is trading 0.46% higher at US$90.44/barrel, gold is up 0.04% at US$1926/ounce and iron ore is up 1.65% at US$123.50/tonne.AU$1.00 is buying US$0.64, 95.55 Japanese Yen, 52.52 British Pence and NZ$1.08.Stocks trading ex-dividend today include Sigma Healthcare, Atlas Arteria and Auckland International Airport. If you’ve been thinking about these stocks it might be worth considering buying in today as stocks trading ex-dividend generally trade lower on the ex-dividend date.Trading Ideas:Bell Potter has decreased the 12-month price target on Develop Global (ASX:DVP) from $3.80 to $3.70 and maintain a buy rating on the hybrid mining company following the company’s release of an update on its Woodlawn operations. While the Mine Life of 7-years was in line with Bell Potter’s prior estimate and is expected to grow to 9-years, OPEX came in higher than Bell Potter expectations.And Trading Central has identified a bearish signal on Goodman Group (ASX:GMG) following the formation of a pattern over a period of 25-days which is roughly the same amount of time the share price may fall from the close of $21.70 to the range of $20.40 to $20.70 according to standard principles of technical analysis.

Wall St fell for the third straight day amid concerns of higher rates which saw the major indexes all in the red on Thursday. The S&P 500 had its worst session since March which saw it drop by 1.64%. The Dow Jones and Nasdaq continued this trend lowering 1.08% and 1.82% respectively.The US 10-year treasury yield hit its highest level since 2007 as a result of jobless claims data displaying a still strong labour market which may encourage the Federal Reserve to hike rates.In terms of US stocks this week, tech has seen the biggest losses with Tesla, Alphabet and Nvidia all losing more than 2%. Over in Europe, markets closed lower following interest rate decisions from the Central Banks in England, Turkey, Sweden, Switzerland and Norway. The STOXX 600 ended Thursday lower by 1.3% with travel and leisure stocks seeing the biggest drop, losing 3.2%. Germany’s DAX and the French CAC both lost well over 1% whilst the FTSE 100 also lost 0.69% by market close. Locally yesterday, the ASX 200 closed 1.37% lower with all sectors ending down on Thursday. The losses were lead by the energy and financial sectors which both closed 1.96% and 1.76% lower respectively. What to watch today: The Australian share market is set to open lower, with the SPI futures suggesting a fall of 1.36% at the open this morning.In terms of commodities, Oil is steady at 89 US dollars and 54 cents a barrel, after increasing off the back of Russia announcing a ban on fuel exports, raising further concerns about tight supplies. Gold is down half a percent to 1930 US dollars an ounce after the US Federal Reserve delivered a hawkish pause on the cash rate. And iron ore is up by 0.81% to 124 US dollars a tonne with JP Morgan raising target prices for the iron ore sector as China’s infrastructure expansion limited drawbacks from lower property development.Trading Ideas: Bell Potter maintains a speculative buy rating on Genetic Signatures (ASX:GSS), despite lowering its price target from $0.95 to $0.90 with a current share price of 51 cents a share. Bell Potter has maintained  a speculative buy rating as the company is about to complete a respiratory kit clinical trial as well as launching commercially in the US.And Bell Potter also maintains a speculative buy rating on Mesoblast (ASX:MSB) and its price target remains at $0.58 with a current share price of $0.37. Bell Potter upgraded to a speculative buy based on share price movement in FY24.

Well US equities declined overnight after the Federal Reserve announced that it would leave interest rates unchanged but indicated another rate hike later this year and a delayed beginning to the rate cuts in 2024, which was different to previous rate expectations. All major US benchmarks closed lower, with the Nasdaq down the most, weighed down by Microsoft and Alphabet. And 2-year US Treasury yields climbed to the highest level since 2006, while the 10-year yield reached 4.4%. What to watch today:Following US markets, the SPI futures are suggesting that the Australian share market will open 0.3% lower this morning. In commodities, Crude oil is trading in the red, coming down from its over ten-month high, reached in the previous session, after the Energy Information Administration showed that US crude inventories fell by more than 2 million barrels last week, in line with expectations. Gold is trading flat after the Fed kept the Fed Funds rate steady. And iron ore has dropped, easing from the five-month high hit mid-September, as markets weighed on uncertainty from Chinese property developers. And stocks going ex-dividend today include Capital Health (ASX:CAJ), Genesis Energy (ASX:GNE), NRW Holdings (ASX:NWH) and Pacific Smiles Group (ASX:PSQ). Trading Ideas:Bell Potter maintains a Buy rating on Life360 (ASX:360) in anticipation of a strong Q3 result and a chance of an upgrade to 2023 guidance. The market leading app for families includes a range of features from communications to driving safety and location sharing. Bell Potter have increased their price target by 5% to $11.00, which is a 28% premium to the share price. And Bell Potter also maintains a Speculative Buy rating on Conrad Asia Energy (ASX:CRD). The company is focused on progressing several gas projects located in offshore Indonesia. Bell Potter have lowered their valuation from $2.40 to $2.30, and at the current share price of $1.38, this implies 67% share price growth in a year. 

Wall St closed lower on Tuesday as investors look forward to the results of this week’s Federal Reserve policy meeting. All three major benchmarks closed lower on Tuesday with the Dow Jones losing 0.31%, the S&P 500 falling 0.22% and the tech-heavy Nasdaq sliding 0.23%.In terms of US shares, Disney lost more than 3% following it decision to announce plans to almost double investment on its cruise and parks business. Agricultural manufacturer, Deere also lost nearly 3% after investment bank Evercore ISI downgraded the stock due to agriculture production concerns.The US Central bank’s meeting started overnight with there being an expectation amongst investors that the Federal Reserve will not raise rates when its decision comes out on Wednesday in the US. Over in Europe, markets closed marginally lower as European investors await the results of the Federal Reserve meeting over in the US. The STOXX 600 closed slightly lower with retail stocks posting the biggest losses, whilst banks and oil slightly offset this with gains of around 1%. The FTSE 100 and French CAC finished the day marginally higher while the German Dax saw a close in the red of 0.40%. Locally yesterday, the ASX 200 ended Tuesday 0.47% lower with materials and real estate sector finishing the day in the red. This was slightly offset by the energy sector ending the day 0.21% higher. What to watch today: The Australian share market is set to open lower, with the SPI futures suggesting a fall of 0.22% at the open this morning.In terms of commodities this morning, Oil is down 0.38% to 91 US dollars and 13 cents a barrel following Saudi Arabia and Russia announcing oil supply cuts. Gold is down 0.13% to 1930 US dollars and 61 cents an ounce as the Federal Reserve is expected to maintain a hold on interest rates. And iron ore is 0.40% lower to 125 US dollars a tonne amid expectations of stronger demand coming from China.Trading Ideas:Bell Potter maintains a speculative buy rating on Azure Minerals (ASX:AZS) and maintains it’s valuation of $4.90 with its current share price trading at $2.49. Bell Potter believes that they are well funded to pursue its lithium exploration target with them also starting exploration of areas where some of the highest ranked lithium targets are located.And Bell Potter maintains a hold rating on Altium (ASX:ALU) and have increased their price target from $40 to $44, with a current share price of $45.20. Bell Potter believes the stock is trading around fair value for FY24, hence maintaining its hold rating.

Well, a renewed focus on the outlook for interest rates meant that there wasn’t much movement in US equities overnight. Investors are awaiting the Fed’s policy meeting that’s scheduled for tonight in the US, with the market expecting the central bank stays put when it releases its rate decision on Wednesday. Also, on Wednesday in the US, the Fed will release its market forecasts. Overnight, although we didn’t see much movement, the three major US benchmarks all closed in the green, inching slightly higher by the close. It was a different story over in Europe however, with markets closing sharply lower to start the trading week. The STOXX 600 declined 1.2%, with all sectors in negative territory, with healthcare, travel and banks falling the most. Germany’s DAX, France’s CAC, and the FTSE 100 all closed in the red.What to watch today:Our local share market is set to open lower this morning, with the SPI futures suggesting a 0.29% drop at the open this morning. In economic news, the RBA will release the minutes for its September meeting today. This was the final meeting under Governor Philip Lowe, when the central bank announced an extension of the rate pause for the third month in a row, in line with market consensus. The RBA also stated that inflation had passed its peak, however readings remain high, emphasising that further monetary tightening may be required to bring inflation back to the target range. Looking at commodities now, Crude oil is trading higher and is hovering at the highest levels in more than ten months, as expectations of a widening market deficit in Q4, following more supply cuts in Saudi Arabia and Russia. There are also hopes of a Chinese demand recovery. So, keep watch of ASX- listed energy producers today. Gold is also trading in the green, rising for the third straight session, so keep watch of gold mining stocks as well. And iron ore is up 2.5% and has reaches its highest level since March 31st at US$125.50 per tonne, off the back of expectations of stronger demand in China. Trading Ideas:Bell Potter maintains a Buy rating on Vitura Health (ASX:VIT). The company is a market leader in the distribution of medicinal cannabis products in Australia. Bell Potter says that whilst there are an increasing number of smaller distributors entering the space, Vitura holds significant market share and is ideally positioned to capture this industry growth. Their price target is $0.70, and at the current share price of $0.33, this implies 112% share price growth in a year. And Bell Potter have initiated coverage of Burgundy Diamond Mines (ASX:BDM). Their key asset is the Ekati Diamond Mine located in Canada’s Norwest Territories, which was developed by BHP in the late 1990s, and was ranked top 10 of global diamond mines by volume. It’s a highly strategic asset in the global luxury goods value chain. Bell Potter’s price target is $0.50 and at BDM’s current share price of $0.18, this implies 170% share price growth in a year.

Wall St closed lower on Friday following a volatile week and ahead of the Federal Reserve’s policy meeting on Thursday. While the tech- heavy Nasdaq lost 1.56%, the Dow Jones was also in the red by 0.83%. Meanwhile, the S&P 500 suffered its 2nd week in a row of losses rounding out Friday with a loss of 1.22%Within the S&P 500 the information technology sector performed the worst with Adobe shares falling more than 4%, despite recording better-than-expected quarterly results. Recently debuted company Arm Holdings also had its share price lowered by 4.2% following its successful public debut.European stocks ended the week higher on Friday following the market’s reaction to the European Central Bank’s suggestion that its latest rate hike may be its last. The STOXX600 ended Friday up 0.2% with household goods leading gains, up by 1.4%. The German DAX ended the week 0.56% higher and the FTSE100 and the French CAC followed suit closing 0.50% and 0.96% higher respectively. Locally on Friday, the ASX200 ended the week 1.29% higher, with the materials sector advancing the most, while the info tech sector also performed strongly, up almost 2%. What to watch today: The Australian share market is set to open lower, with the SPI futures suggesting a fall of 0.56% at the open this morning.In terms of economic data this week, the RBA Meeting Minutes will take place on Tuesday. This will give us insight into why the central bank decided to keep the cash rate on hold this month. On the commodity front today,Oil is trading 0.40% higher at 91 US dollars and 12 cents a barrel amid improving global demand outlook. Gold is up 0.72% to 1924 US dollars an ounce following China’s better-than-expected industrial output results and a weaker US dollar. And iron ore is up 2.03% to 125 US dollars and 50 cents a tonne following an increase in expectations that Beijing will mandate steel output controls in the near future.Trading Ideas: Bell Potter has initiated coverage on Seven Group Holdings (ASX:SVW) who is a leading Australian diversified operating and investment Group with market leading businesses in Industrial Services. Bell Potter are positive on the near-term outlook for mining production and transitional energy markets and have placed a price target of $33 with the current share price at $29.05.And Trading Central has identified a bullish signal in Deterra Royalties (ASX:DRR), indicating that the stock price may rise from the close of $4.85 to the range of $5.30-$5.45 over 36 days, according to the standard principles of technical analysis.

Artificial Intelligence or AI is the phrase and phenomenon of 2023, paving the way for hyper efficiencies, cost-cutting, and overall operational excellence. With recent government assistance, the scale of in-house investing in AI for ASX listed companies is ramping up. Learn about which companies are leading the way.In this week's wrap, Grady covers:(0:11) Australia’s AI landscape(1:08) Temple & Webster’s (ASX:TPW) AI investment strategy(1:54) WiseTech Global’s (ASX:WTC) acquirement of Shipamax(2:24) Coles Group (ASX:COL) experimenting with ChatGPT(2:57) AI in the mining sector - (3:56) Investing in AI-themed stocks(4:55) Best performing stocks in the ASX200(5:50) The most traded stocks & ETFs by Bell Direct clients(6:23) Five economic news items to watch out forRead the article transcript here

Wall St rallied on Thursday, following the revival of Wall Street’s IPO market and favourable results from economic data. The Dow Jones had its best day since August adding 0.96% while the S&P 500 and the Nasdaq both performed strongly, finishing in the green by 0.84% and 0.81% respectively.Chip design company Arm debuted on the New York Stock Exchange on Thursday which saw shares increasing by 24.7% as investors hope that the biggest tech offering of the year could kickstart a ‘sleepy’ IPO market.Over in Europe, markets closed higher on Thursday as investors reacted to the European Central Bank’s decision to hike interest rates once again. Interest rates were increased for the 10th consecutive time by the ECB by 25-basis points taking the core rate to 4%.The STOXX600 finished Thursday’s session, 1.52% higher following the ECB announcement. This was led by the basic resources sector up 4.2% following China’s central bank announcing it would cut the reserve requirement ratio on banks by 25-basis points. The German DAX closed 0.97% higher and the FTSE100 and French CAC ended Thursday in the green, up by 1.95% and 1.19% respectively.Locally yesterday, the ASX200 finished the day 0.46% in the green, led by materials up by 0.96% and the financial index ending the day 0.69% higher. This was slightly offset by the health index which finished Thursday in the red 0.57%.What to watch today:The Australian share market is set to open higher, with the SPI futures suggesting a rise of 1.22% at the open this morning.In terms of commodities this morning,Oil is up 2.43% to 90 US dollars and 67 cents a barrel, following expectations of a tightening of the global oil market. Gold is up 0.23% to 1910 US dollars an ounce following retail sales and producer prices for the US coming back hotter than expected. And iron ore is up 1.24% to 122 US dollars a tonne amid bets of robust demand for Chinese steel production in the short term.Trading Ideas:Bell Potter maintains a speculative buy rating on Clarity Pharmaceuticals (ASX:CU6) and have increased the 12-month price target from $1.30 to $1.70 with the current share price at $1.23. The price target has increased as closing cash at June 30th was $65 million, meaning the company will be well funded through FY24.And Trading Central has identified a bullish signal in Whitehaven Coal (ASX:WHC), indicating that the stock price may rise form the close of $6.37 to the range of $7.50-$7.80 over a pattern formed over 18 days, according to the standard principles of technical analysis.

Wall Street closed mixed on Wednesday after the highly anticipated inflation reading was released, showing an inflation reading that was hotter than expected. Inflation in the US accelerated for a second straight month to 3.7% in August from 3.2% in July which was above the 3.6% reading markets were expecting. The higher CPI reading was driven by rising energy and fuel costs as well as higher growth in transportation costs. Core inflation which strips out energy and food rose by 0.3% month on month and 4.3% year on year which also slightly exceeded expectations. Investors responded negatively to the rise in core inflation as it provides further support for the Fed to continue raising interest rates. The Nasdaq rose 0.29%, and the S&P500 added 0.12%, while the Dow Jones fell 0.2%. Tech giants including Tesla and Amazon were the key drivers of the rally for the Nasdaq and S&P500 on Wednesday.Over in Europe, markets closed lower in the region following the hotter-than-expected inflation reading out of the U.S. The STOXX600 fell 0.99% weighed down by retail stocks while Germany’s DAX lost 0.39%, the French CAC fell 0.42% and, in the UK, the FTSE100 closed just 0.02% lower. UK GDP data came in below expectations with a 0.5% contraction for the month of July which is the biggest decline so far this year and reversed the 0.5% growth in June.Locally yesterday, the ASX rally that started the week on a positive note came to an end with the key index closing 0.73% lower, weighed down by the tech-sector falling 1.56% on the back of weakness in US tech-stocks on Tuesday. Qantas shares fell even further yesterday after the high court upheld a Federal Court ruling that Qantas breached the Fair Work Act at the start of the COVID-19 pandemic by standing down workers and replacing their services with third-party providers to cost cut during in 2020. While the airline has apologised and taken full responsibility, the impact is said to be wide ranging on the flying kangaroo. Coronado Global Resources led the wins on the ASX200 yesterday with the coal miner adding over 3%, while Eagers Automotive was the worst performer, down 4.54% at the closing bell.What to watch today:Ahead of the local trading session here in Australia the SPI futures are expecting the local index to open 0.07% lower on the back of the global sell-off overnight.On the commodities front this morning, oil is trading slightly lower at US$88.81/barrel, gold is down 0.22% at US$1908.97/ounce and iron ore is up 0.42% at US$120.50/tonne.AU$1.00 is buying US$0.64, 94.61 Japanese Yen, 51.28 British Pence and NZ$1.09.Stocks trading ex-dividend today include Ramelius Resources (ASX:RMS), Cleanaway Waste Management (ASX:CWY), Cash Converters International (ASX:CCV), Austal (ASX:ASB), Ingham’s Group (ASX:ING), BBHI, Seven Group Holdings (ASX:SVW), and Spark New Zealand (ASX:SPK). If you’ve been thinking about these stocks it might be worth considering buying in today as stocks trading ex-dividend generally trade lower on the ex-dividend date.Trading Ideas:Bell Potter has decreased the price target on Select Harvests (ASX:SHV) from $5.50 to $5.30 and maintain a buy rating on the almond producer following the release of the company’s crop and market update including Select Harvests reducing its FY23 pricing estimate per kilo due to downward movement in crop pricing linked to the market and quality of crop. FY23 orchard production has been lifted though following a higher recovery in the pollinator crop.And Trading Central has identified a bearish signal on Medibank Private (ASX:MPL) following the formation of a pattern over a period of 97-days which is roughly the same amount of time the share price may fall from the close of $3.47 to the range of $3.09 to $3.17 according to standard principles of technical analysis.

Wall Street closed lower on Tuesday, led by the Nasdaq falling 1.04% in its first losing session in three days as Oracle shares plunged 13% on weaker-than-expected quarterly revenue and guidance. The S&P500 fell 0.57% and the Dow Jones fell in afternoon trade to close 0.05% lower after trading higher all day. Chevron shares rallied almost 2% on strength in the price of oil to offset some of the losses for the Dow Jones on Tuesday. Apple shares were also lower in afternoon trade after the tech giant unveiled a new iPhone model this afternoon in US time. Investor attention in the US is focused this week on key inflation data which will be released on Wednesday US time as it will give an indication into how the US economic inflation is faring and provide further support for the Fed to either raise or hold rates at the next FOMC meeting.In Europe, markets closed mixed across the board on Tuesday ahead of key economic data released later this week. The STOXX600 fell 0.2%, Germany’s DAX fell 0.54%, the French CAC lost 0.35% and, in the UK, the FTSE100 rose 0.41%.UK average earnings data released overnight showed regular pay excluding bonuses in the UK went up 7.8% YoY in the three months to July, which is the same reading as the prior quarter and the highest regular growth rate since comparable records began in 2001, in a sign inflation remains high in the region.The local market has rallied across the first two sessions of this week amid a rise in staple and financial stocks over the two trading sessions. On Tuesday, the ASX200 rose 0.20% led by materials stocks lifting 0.9% on a 3% rise in the price of iron ore following better-than-expected economic data out of China in the form of total credit growth climbing in August 2023, marking the first month-on-month acceleration since March.It was a big day for lithium miners yesterday with some mining giants making key strategic moves that had investors excited. Delta Lithium shares jumped almost 6.5% after Mineral Resources founder and CEO joined Delta Lithium’s board as non-executive chairman, and Mineral Resources increased its shareholding in Delta to 17.4%.What to watch today:Ahead of the local trading session here in Australia the SPI futures are anticipating the local market to open the midweek session down 0.29%.On the commodities front this morning, oil continues to strengthen, trading up 1.70% at US$88.77/barrel, gold is down just shy of half a percent at US$1913/ounce and iron ore is up 3% at US$120/tonne on the back of that favourable economic data out of China reigniting demand outlook for iron ore from the region.AU$1.00 is buying US$0.64, 94.48 Japanese Yen, 51.28 British Pence and NZ$1.09.Trading Ideas:Bell Potter has increased the rating on EROAD (ASX:ERD) from a hold to a buy whilst lowering the 12-month price target from $1.25 to $0.90 amid forecasting for the NZ$50m capital raising and the subsequent impact to NPAT that is expected by Bell Potter’s analyst. Bell Potter questions the decision to raise equity capital at such a sharp discount to the last close – especially after the EROAD board rejected the non-binding indicative offer of NZ$1.30/share from Brillian APAC, but the Bell’s analyst does recognise the much-strengthened balance sheet which now removes risk of another capital raise in the short term.And Trading Central has identified a bearish signal on Boral (ASX:BLD) following the formation of a pattern over a period of 9-days which is roughly the same amount of time the share price may fall from the close of $4.65 to the range of $4.13 to $4.23 according to standard principles of technical analysis.

Wall St opened the week higher as important inflation data is set to be released later in the week. The tech heavy Nasdaq rebounded after recent weakness, closing the day 1.14% higher. Both the S&P 500 and the Dow Jones also finished Monday in the green gaining 0.67% and 0.25% respectively.Morgan Stanley has upgraded Tesla stock by 10% following ‘significant breakthroughs with its autonomous software.’ Qualcomm shares also rallied 4%, following news that the chipmaker will be supplying Apple 5G modems for smartphones through 2026.Stronger-than-expected economic data points from last week has investors looking forward to key US inflation data released later this week, with prior worries that the Federal Reserve may raise rates for longer than previously expected.Over in Europe, markets closed higher as investors await a big week of economic news from around the world. The STOXX600 ended the day up 0.34% as basic resources rose 2.4% following Anglo American and Rio Tinto trading higher following gains in metal prices. Germany’s DAX closed 0.36% higher, the FTSE 100 closed higher by 0.25% and the French CAC finished the day 0.52% in the green.Locally yesterday, the ASX200 closed the day half a percent higher following strength in the financial and consumer staples sectors. This was slightly offset by the health sector which finished yesterday 0.67% in the red.What to watch today: The Australian share market is set to open higher, with the SPI futures suggesting a rise of 0.10% at the open this morning.In terms of commodities,Oil is down 0.38% to 87 US dollars and 17 cents a barrel amid continued concerns over China’s economic recovery. Gold is up 0.21% to 1921 US dollars an ounce as investors await important economic data releases later in the week. And iron ore is down 0.85% to 116 US dollars and 50 cents a tonne following an increase in supply for production as there is an expectation that Beijing will mandate steel output controls. Trading Ideas: Bell Potter maintains a buy rating on Nufarm (ASX:NUF) and has maintained the 12-month price target of $7.00 with shares in the ag-stock currently trading at $5.14/share. The buy rating remains unchanged following a reversal of destocking trends and growth in the beyond yield program, which is likely to see a rebound in earnings in FY24.And Trading Central has identified a bullish signal in South32 (ASX:S32), indicating that the stock price may rise from the close of $3.29 according to standard principles of technical analysis.

Equities rose in the US on Friday but recorded a losing week across the key indices as investor fears of further rate hikes out of the Fed strengthened on the back of weaker-than-expected initial jobless claims data released earlier last week. The Nasdaq and S&P500 both posted their first weekly losses in 3 weeks losing 1.9% and 1.3% respectively while the Dow Jones fell 0.8% over the week. Shares in e-signature company DocuSign fell 3.7% on Friday despite the company posting earnings that topped expectations and strong guidance for the third quarter.Over in Europe, markets closed slightly higher on Friday as investor sentiment is sliding on renewed inflationary concerns in the U.S., alongside weak Chinese economic data and stronger government bond yields. The STOXX600 rose 0.22% on Friday, Germany’s DAX added 0.14%, the French CAC lifted 0.62%, and in the UK, the FTSE100 rose 0.49%. The rally on Friday was also due in part to the release of final eurozone figures for economic growth showing the economy grew 0.1% in the second quarter which was lower than the 0.3% growth economists were expecting in a sign interest rate hikes are having an impact in cooling the economy.Locally on Friday, the ASX200 fell 0.2% weighed down by materials and consumer discretionary stocks being sold off while some of the losses were offset by strength in the utilities sector.For the week, the ASX200 fell 1.67% with every sector closing in the red aside from energy stocks which were boosted by the rising price of oil on the back of output cuts from Russia and Saudi Arabia.Polynovo led the winning stocks on Friday with the healthcare company adding over 3% while Lake Resources and Pexa each jumped 2.7% and 2.57% respectively. Sayona Mining tumbled 4.55% on Friday despite the lithium miner announcing it reached the major milestone of shipping the first lithium oxide concentrate and generating maiden cash proceeds from its North American Lithium operation in Quebec.What to watch today:Ahead of the local trading session here in Australia the SPI futures are suggesting the ASX will open 0.06% higher to start the new trading week in the green.On the commodities front this morning, oil has retreated to trade 0.52% lower at US$87.05/barrel, gold is flat at US$1919/ounce and iron ore is down 0.85% at US$116.50/tonne.AU$1.00 is buying US$0.64, 93.95 Japanese Yen, 51.25 British Pence and NZ$1.08.Stocks trading ex-dividend today include Chorus (ASX:CNU), CSL (ASX:CSL), HUB24 (ASX:HUB), Terracom (ASX:TER) and Pepper Money (ASX:PPM). If you’ve been thinking about these stocks it might be worth considering buying in today as stocks trading ex-dividend generally trade lower on the ex-dividend date.Trading Ideas:Bell Potter has decreased the price target on AMA Group (ASX:AMA) from 26cps to 15cps and maintain a buy rating on the leading accident repair group in Australia following the release of the company’s FY23 results including revenue falling slightly below Bell Potter’s forecast at $869.6m. FY24 guidance was reiterated and the company also announced a $55m capital raise.And Trading Central has identified a bearish signal on Reece (ASX:REH) following the formation of a pattern over a period of 24-days which is roughly the same amount of time the share price may fall from the close of $19.24 to the range of $17.70 and $18.00 according the standard principles of technical analysis. 

With reporting season for August 2023 coming to an end, investors are being paid their dividends. Investors received $36.8 billion last financial year compared to $29 billion this financial year from the largest 100 ASX listed companies which represented a 21.2% reduction. We take a look at the companies that disappointed and those that surprised.    In this week's wrap, Grady covers: (0:31) dividend cuts and increases,(1:46) why Accent Group (ASX:AX1) remains a key pick for Bell Potter,(3:06) Bendigo & Adelaide Bank’s (ASX:BEN) strong dividend yield,(4:06) the Pilbara Minerals (ASX:PLS) sell-off,(4:47) Wesfarmers’ (ASX:WES) revenue growth,(6:46) best performing stocks in the ASX200,(7:33) the most traded stocks & ETFs by Bell Direct clients, and(8:04) five economic news items to watch out for. Read the article transcript here. 

Wall Street closed lower on Wednesday as investor fears of further rate hikes out of the Federal Reserve, strengthened. The Dow Jones closed Wednesday’s session 0.57% lower, while the S&P 500 and Nasdaq followed suit, ending the day 0.70% and 1.06% lower respectively. Technology stocks have felt the incoming pressure from potential further rate hikes leading to a negative close across the sector for the third straight day. This was highlighted by Apple and Nvidia which fell by more than 3% each with Amgen and Boeing also fell 2% each.Over in Europe, markets closed lower on Wednesday as investor focus has shifted to the oil market outlook and inflation concerns in Saudi Arabia and Russia as they each extended voluntary oil cuts until the end of 2023. The STOXX 600 ended the day 0.6% lower, led by households’ goods losing 2.2% and the banks dropping by 1.5%. Germany’s DAX ended the day 0.19% lower with the FTSE100 and the French CAC closing down by 0.16% and 0.84%. Saudi Arabia have extended their oil production cuts by 1 million barrels until the end of December with Russia following suit reducing its oil exports by 300,000 barrels.Locally yesterday, the ASX200 ended the day 0.78% lower driven by a 1.49% decline in the info tech sector and a 1.35% drop in the communications services sector. However, this was slightly offset by a 0.95% rise in the energy sector.What to watch today:The Australian share market is set to open lower, with the SPI futures suggesting a fall of 0.48% at market open this morning.On the commodities front this morning,Oil is up by 0.97% to US$87.55 a barrel, following an increase demand after Saudi Arabia and Russia extend supply cuts until the end of 2023.Gold is down 0.48% to US$1,916 an ounce after being weighed down by a strong dollar and economic uncertainty. And iron ore is up by 0.85% to US$118.50 per tonne following bets of robust demand for Chinese steel production in the short term. Trading Ideas:Bell Potter maintains a buy rating on PointsBet Holdings (ASX:PBH), but has significantly lowered the 12-month price target from $2.10 to $1.08. The reason for the price target decrease is due to the payment of the capital return which will occur on September 22nd and an increase in the number of shares on issue while all other valuation metrics remain the same. Bell Potter believes the value of the business is seen to be too low at $69 million, assuming the payout of 42 cents final distribution and cash of around 11 cents per share hence maintaining the buy rating on the company.Trading Central has identified a bullish signal on New Hope Corp (ASX:NHC), indicating that the stock price may rise from the close of $5.95 to the range of $7.40-$7.70 on a pattern formed over 130 days, according to the standard principles of technical analysis.

US stocks closed lower on Tuesday in the first trading session of this holiday-shortened week as the rising price of oil places further pressure on the Federal Reserve on an inflationary front. The S&P500 fell 0.42%, the Dow Jones lost 0.56% and the tech-heavy Nasdaq fell in late trade to close down 0.08% after trading higher all day. Oil prices have been on the rise over the last week after Saudi Arabia extended its 1-million-barrels per day voluntary oil production cuts. US Treasury yields also rose on Tuesday which reduces investor appetite for riskier assets like equities.Looking at the odds of a recession in the US, Goldman Sachs cut its recession odds to 15% and said it anticipated the Federal Reserve will skip a rate hike at the next FOMC meeting later this month. While this news would normally boost the market, investors weighed this news against September being historically one of the weakest months for equities.In Europe, markets fell on Tuesday as sentiment around stimulus out of China begins to fade despite favourable economic data released in the region in the form of the Eurozone producer price index showing producer prices were down 7.6% YoY in July, dropping for a 7th consecutive month. Another dampener on Tuesday was the revision for inflation expectations for the next three years rising from 2.3% in June to 2.4% in July, while one-year expectations remain unchanged at 3.4%. The local market rebounded in afternoon trade yesterday to close the session just 0.06% lower after trading in the red all day. Iron ore miners like BHP and Rio Tinto and the utilities sector weighed on the market while health care and industrials stocks offset some of the heavy losses in afternoon trade. The market also rallied in afternoon trade following the RBA’s rate decision announcement.The RBA has maintained the nation’s cash rate at 4.1% for the month of September as Philip Lowe handed down the decision at his last meeting as RBA governor. The reason behind the hold was as the board assesses uncertainty around the economic outlook and its bid to establish a more sustainable balance between supply and demand in the economy. What to watch today: Ahead of the local trading session here in Australia the SPI futures are expecting the ASX to open the midweek session down 0.23% on the back of the global sell-off overnight.Australia’s GDP Growth rate data for Q2 is out today with consensus expecting a rise to 0.3% growth for Q2 from 0.2% growth in Q1. Pending the reading we will likely see markets respond accordingly.On the commodities front this morning, oil is trading 0.91% higher at US$86.71/barrel, gold is down 0.62% at US$1926/ounce and iron ore is up 0.43% at US$117.50/tonne.AU$1.00 is buying 64 US cents, 94.30 Japanese Yen, 50.96 British Pence and NZ$1.09. Trading Ideas:  Bell Potter has increased the price target on BCI Minerals (ASX:BCI) from 32cps to 44cps and now have a speculative risk rating associated to the buy rating on the mining and exploration company amid analysis of BCI’s cost and design review for its Mardie Salt and Potash Projects. The update highlights raised base capital costs of $1.421bn and a delay to the first salt production to 2H 2026 from the prior guidance of 2H 2024, however, the higher costs and delayed timeline are consistent with recent challenges across the industry.And Trading Central has identified a bullish signal on Myer (ASX:MYR) following the formation of a pattern over a period of 19-days which is roughly the same amount of time the share price may rise from the close of $0.70 to the range of $0.80 to $0.82 according to standard principles of technical analysis.

The US market was closed on Monday for the labour day holiday.Over in Europe, markets closed lower in the region on Monday with the STOXX600 closing flat, while Germany’s DAX fell 0.1%, the French CAC lost 0.24% and in the UK the FTSE100 lost 0.16%. European Central Bank President Christine Lagarde said it will be critical for central banks to pin their inflation targets at a period where fluctuations in the likes of energy prices and geopolitical activity are factored in, according to Reuters.Germany’s trade data released on Monday showed a 0.9% month-on-month decline in exports in July while imports rose 1.4%, leading to a decline in Germany’s trade surplus to 15.9 billion euros from 18.7bn euros in June and well below the consensus forecast of a slight dip to 18 billion euros.Locally, the ASX started the week in positive territory with the key index closing the first trading session of the week up 0.56%, continuing the momentum from last week’s 2.29% rise.Yesterday, the key index rally was fuelled by materials stocks rising almost 2% amid optimism of further stimulus out of China increasing demand outlook for iron ore. Energy stocks also lifted to start the week in the green as the price of oil trades 6.57% higher over the last week amid fears of possible production cuts from Moscow.The story of the local session yesterday was lithium miner Liontown Resources receiving an upgraded takeover bid from US chemicals giant, Albermarle, valuing Liontown at $6.6bn. The initial takeover offer of $2.50/share was rejected on the grounds of value however the Liontown board is reportedly considering the revised $3/share offer and has granted Albermarle a ‘limited period of exclusive due diligence’. Following the offer news, Liontown shares traded 9.5% higher around $2.87/share.On the other end of the market, Sky City tumbled 15% yesterday after the casino and entertainment company revealed its operating licence may be suspended in New Zealand for 10 days by New Zealand’s Department of Internal Affairs for failure to comply with the responsible gaming program. As we near the end of reporting season, 385 companies have reported with 28.8% beating estimates, 43% meeting estimates and 27.8% missing estimates.  What to watch today:Ahead of the local trading session here in Australia the SPI futures are expecting the local index to open 0.26% lower on Tuesday.On the commodities front this morning, oil is trading 0.44% higher at US$85.93/barrel, gold is flat at US$1938.56/ounce and iron ore is down 0.43% at US$117/tonne.Stocks trading ex-dividend today include Pilbara Minerals (ASX:PLS), Yancoal (ASX:YAL), Northern Star Resources (ASX:NST), Codan Limited (ASX:CDA), Corporate Travel Management (ASX:CTD), Clinuvel Pharmaceuticals Limited (ASX:CUV)and Origin Energy (ASX:ORG).  Trading Ideas:Bell Potter has downgraded Liontown Resources (ASX:LTR) to a hold from a buy and maintain a 12-month price target of $3.85 on the lithium miner following the receipt of an upgraded takeover bid from Albermarle of $3/share. Albermarle has declared this is its best and final offer unless a superior proposal is received. The Liontown board has granted Albermarle a limited period of exclusive due diligence and according to Bell Potter, intends to unanimously recommend the proposal in the absence of a superior offer and subject to an independent expert opinion.And Trading Central has identified a bullish signal on Coronado Global Resources (ASX:CRN) following the formation of a pattern over a period of 15-days which is roughly the same amount of time the share price may rise from the close of $1.66 to the range of $1.76-$1.78 according to standard principles of technical analysis.

Favourable jobs data out in the US boosted investor sentiment on Friday to close out a winning week on Wall Street. The Dow Jones added 0.3% on Friday while the S&P500 rose 0.18% and the Nasdaq fell 0.02%. For the week though the Dow and Nasdaq each added 1.4% and 3.3% respectively while the S&P500 rose 2.5%.Non-farm payrolls data out in the US on Friday showed the unemployment rate ticked higher to 3.8% in August, well above economists’ expectations of a hold at 3.5%. The rise in unemployment provides further signal that the Fed’s aggressive interest rate hikes are proving effective in cooling the tight labour market.Following recent favourable data being released, the market has factored in a 93% chance the fed will hold interest rates at the next meeting, according to CNBC.Dell Technologies soared 21% on Friday after reporting stronger-than-expected earnings in the latest quarterly results update.Over in Europe, it was a mixed session on Friday as key US data and a lag in automaker stocks weighed on investor sentiment in the region. Auto stocks fell 2.6% on Friday after a survey out of Germany showed a deterioration in sentiment among automakers with almost half saying lack of orders is impeding production. The STOXX600 closed flat, Germany’s DAX fell 0.7%, the French CAC lost 0.27%, and in the UK, the FTSE100 rose 0.34%.Locally, the ASX200 fell 0.37% on Friday, weighed down by the healthcare sector falling 1.42% while utilities stocks lost just shy of 1%. Qantas shares have been heavily sold off in recent sessions as the national carrier is facing a record corporate penalty of $600m from the consumer watchdog for allegations that Qantas was selling tickets for around 8000 allegedly already cancelled flights in May and June 2022.  This comes alongside the airline facing scrutiny for making it difficult for customers to access and use flight credits, of $570m in total value, for flights cancelled during the COVID-19 period.What to watch today: Ahead of the local trading session here in Australia, the SPI futures are expecting the local market to open 0.43% higher ahead of a big week on the economic front this week including the RBA interest rate decision tomorrow, GDP Growth Rate data out tomorrow and trade balance out later in the week.On the commodities front this morning, oil is trading 0.57% higher at US$86.04/barrel, gold is flat at US$1939/ounce and iron ore is down 0.43% at US$117/tonne.AU$1.00 is buying 65 cents, 94.28 Japanese Yen, 51.24 British Pence and NZ$1.09.Trading Ideas:Bell Potter has downgraded Resimac Group (ASX:RMC) from a Buy to a Hold and slightly decreased the price target from $1.12 to $1.09 on the back of the company releasing mixed FY23 results including home loan book shrinking 14% to $13.1bn while net interest income decreased to $222.5m from $238.1m and Bell Potter’s analyst expects the home loan book to decline 4% in FY24 before returning to growth in FY25.And Bell Potter has decreased the price target on XTEK (ASX:XTE) from 80cps to 70cps and maintain a buy rating on the defence manufacturer following the release of the company’s FY23 results that beat both guidance and Bell Potter estimates. The downgrade in price target was due to Bell Potter having lack of visibility over future revenue which is weighing on the share price, however this is not uncommon in the defence industry. Bell Potter is awaiting updates on the referenced multiple large ballistic orders and multi-year new SUAS Support Contract shortly.

As we near the end of Reporting Season, we’ve seen 348 companies report their earnings. 106 have beat expectations, 146 met expectations, while 96 fell short of expectations.This week, the Australian share market advanced 2.67% this week (Mon – Thurs), in a strong week of trading. All but the energy sector, posted notable gains. The materials sector had the biggest rally, with the sector rising 3.66%, followed by the healthcare sector adding 3.36% and consumer discretionary rising 3.18%.In this week's wrap, Grady covers:(0:51) How City Chic (ASX:CCX) fell out of favour with investors(1:53) The positive run for travel stocks, including Flight Centre (ASX:FLT)(3:09) What’s causing Brambles’ (ASX:BXB) share price movements(4:34) The key takeaways from Reporting Season this week(5:30) Best performing stocks in the ASX200(6:15) The most traded stocks & ETFs by Bell Direct clients(6:45) Five economic news items to watch out forRead the article transcript here.

US equities closed mixed overnight ahead of the August payrolls report, closing out August with losses for all three benchmarks. The S&P 500 and the Dow Jones closed the session in the red, while the tech-heavy Nasdaq was in the green. For the month of August however, the Nasdaq is down 2.17%, the Dow dropped 2.36% and the S&P500 down 1.77%. European stocks were also lower, following the release of euro zone inflation data, which remained unchanged from July at 5.3%. What to watch today: The Australian market is set to open lower this morning, with the SPI futures suggesting a drop of 0.52% at the open. In commodities, Crude oil is trading 2.4% higher, advancing for the sixth straight session and nearing levels last seen in November 2022, driven by expectations of tight supplies. Recent PMI data has also showed that China’s manufacturing sector contracted for the fifth consecutive month, which increases expectations that OPEC+ nations will extend output cuts. So, keep watch of ASX energy producers today. Gold is slightly lower, after strengthening above US$1,940 an ounce, following weather-than-anticipated US economic data, as well as a lower US dollar and Treasury yields. And iron ore is in the green, remaining close to the one-month higher of US$117.50, as the market bets on stronger demand from steel producers. So, iron ore miners will also be on watch today, including Fortescue Metals (ASX:FMG), Champion Iron (ASX:CIA) or Mineral Resources (ASX:MIN). And there is a long list of companies set to go ex-dividend today, which often sees share prices fall, as investors take their profits. Some include Ampol (ASX:ALD), Eagers Automotive (ASX:APE), Coles (ASX:COL) and Gold Road Resources (ASX:GOR). Trading Ideas: Bell Potter maintains a buy rating on PointsBet Holdings (ASX:PBH), after the corporate bookmaker reporting FY23 results in line with Bell Potter’s expectations. They have lowered their valuation of the Australian business from $180 to $150 million due to a reduction in their forecast FY24 EBITDA from $20 to $15 million. This has lowered their 12-month price target by 5% to $2.10. At PBH’s current share price of $1.62, this implies 29.2% share price growth in a year. And Trading Central have identified a bearish signal in PM Capital Global Opportunities Fund (ASX:PGF), indicating that the stock price may fall from the close of $1.89 to the range of $1.78 to $1.80 over 25 days, according to the standard principles of technical analysis. 

US equities advanced on Wednesday as investors digested the release of fresh economic data. Annual GDP growth in the US was downwardly revised on Wednesday from the previously forecast 2.4% to 2.1% growth. This came alongside US payrolls data showing private employers added 177,000 jobs in August which was below the Dow Jones estimate of 200,000, but adds a further sign of the U.S. economy doing it tough in the high interest rate environment.The S&P500 advanced 0.38% in its fourth straight winning session, the Nasdaq rose 0.54% and the Dow Jones added 0.11%. Tech stocks bolstered the gains on Wednesday after chipmaker and 2023 market darling Nvidia announced an expansion of its partnership with Google.Over in Europe, markets closed mostly marginally lower on Wednesday as investors responded to the release of economic data out of Spain and Germany. Spain reported flash inflation rate data rose 2.6% YoY in August which was in line with expectations, while Germany reported a 13.2% drop in imports in the year to July, the sharpest drop since 1987. The STOXX600 fell 0.2%, Germany’s DAX lost 0.24%, the French CAC fell 0.12%, and in the UK, the FTSE100 added 0.12%.The local market closed 1.21% higher on Wednesday as investor sentiment was boosted by Australia’s CPI indicator data cooling to growth of 4.9% in the 12-months to July. Industrials and healthcare stocks posted the biggest gains on Wednesday, while Real Estate stocks also rose 1.31% on the hopes of fewer or no further interest rate hikes in Australia as inflation continues to cool.Australia’s monthly Consumer Price Index indicator rose by 4.9% in the year to July from a 5.4% rise in June and below market expectations of a 5.2% rise last month. Although it is still above the RBA’s target range of 2-3%, it is showing strong signs of cooling which provides support for the RBA to ease its rate hike stance.Plus-size fashion retailer City chic tumbled 4.4% on Wednesday after posting a 17.2% slide in sales over FY23, while Brambles rose 7.1% after the supply chain solutions specialist reported a 10% rise in revenue, a 19% increase in profit after tax and a 15% lift in the company’s dividend to 26.25UScps.Regional Express REX released FY23 results yesterday which sent the share price down nearly 3% despite the company reporting a statutory profit after tax of $14.4m, compared to a loss of $46.1m in the PCP. The result was boosted by a $44.5m contribution from REX’s 50% acquisition of National Jet Express during the year.What to watch today:Ahead of the local trading session here in Australia the ASX is set to open Thursday’s session up 0.06%.On the commodities front this morning oil is up 0.6% at US$81.63/barrel, gold is up 0.36% at US$1944/ounce, and iron ore is flat at US$115.50/tonne.AU$1.00 is buying US$0.65, 94.61 Japanese Yen, 50.97 British Pence and NZ$1.09.Trading Ideas:Bell Potter has increased the rating on Paragon Care (ASX:PGC) from a hold to a buy and maintain a 26 cents per share price target on the healthcare equipment, devices and consumables provider following the release of the company’s FY23 results that included revenue up 24% to $307.6m, EBITDA margin up 12.5% driven mainly by acquisitions, and reported NPAT increased 89% to $13.6m. Revenue from the devices business increased 14% despite headwinds in reimbursements paid by the prosthesis list. Bell Potter upgraded the company to a buy as it expects further organic growth in FY24 and acceleration of growth in FY25.And Trading Central has identified a bullish signal on Piedmont Lithium (ASX:PLL) following the formation of a pattern over a period of 30-days which is roughly the same amount of time the share price may rise from the close of $0.69 to the range of $0.91 to $0.97 according to standard principles of technical analysis.

Wall Street closed in the green on Tuesday as investors begin buying into the August dip, especially in the technology space. The tech-heavy Nasdaq rose 1.74% on Tuesday, in its best session since June, while the Dow Jones rose 0.85% and the S&P500 added 1.45%. Chinese electric vehicle maker Nio fell 5.8% on Tuesday after posting a wider quarterly loss than expected. Best Buy shares rallied nearly 6% on Tuesday after the retailer’s second quarter results beat on both top and bottom lines.In Europe, markets closed higher on Tuesday amid positive global momentum and as investors look ahead to a fresh round of economic data out later this week. The STOXX600 rose 1% on Tuesday, Germany’s DAX added 0.88%, the French CAC lifted 0.67% and, in the UK, the FTSE100 had the biggest rally of 1.72%.The local market closed 0.71% higher on Tuesday driven by a 1.6% rally for materials stocks while the consumer discretionary sector rose 1.42%. Healthcare and technology stocks were the only two sectors to close yesterday’s session lower.Sayona Mining soared over 26% on Tuesday as investors bought back into the lithium producer following a 30% drop on Monday after the shock departure of managing director and CEO, Brett Lynch.Mineral Resources rose 8% on Tuesday after the mining giant released strong FY23 results including its full year dividends rising 90% on FY22 to $1.90/share. EML Payments also had a very strong day on Tuesday following the release of the payments company’s FY23 results. Despite the company reporting a net loss of $248.8m, revenue rose 9% to a record $254.2m which was above the company’s guidance range.We are nearing the end of reporting season and as of yesterday, 272 companies have reported with 89 beating expectations, 103 falling in-line with expectations and 80 missing expectations. 38 companies have been upgraded by brokers and 36 have been downgraded. Some key trends we have seen this reporting season include exposure to China is hurting outlook for companies operating in this region, retailers who reduced inventory over the last financial year showed resilience in FY23, and healthcare valuations continue to decline amid slowing earnings growth outlook.What to watch today:Ahead of the local trading session, the SPI futures are anticipating the ASX to open the midweek session up 0.66% on the back of the US rally overnight.On the commodities front this morning, oil is trading 1.26% higher at US$81.13/barrel, gold is up almost 1% at US$1936/ounce and iron ore is down 1.7% at US$115.50/tonne.AU$1.00 is buying US$0.65, 94.44 Japanese Yen, 50.97 British Pence and NZ1.09.Trading IdeasBell Potter has maintained a hold rating on LGI (ASX:LGI) and decreased the 12-month price target from $2.77 to $2.32 per share following the market leader in the recovery of biogas from landfills, FY23 results. While the company reported FY23 results largely in-line with Bell Potter estimates if not slightly ahead, the hold rating is maintained, and price target decreased based on commodity pricing updates and downward revisions to Bell Potter’s forecast biogas volume growth.Bell Potter has also maintained a buy rating on Lynas Rare Earths (ASX:LYC) and increased the price target on the rare earths miner from $7.80 to $8.50 following the release of the company’s FY23 results which saw the business deliver NPAT of $310m which exceeded Bell Potter’s expectations of $292m even though Lynas faced production issues in Q1 and the NdPr prices were weaker. Lynas also increased Capex as inflationary and time pressure mounts on the Kalgoorlie project, however the company also announced the installation of 9 thousand tonnes per annum of NdPr equivalent of increased capacity at Kalgoorlie.

Well looking at global markets overnight before jumping into the day ahead. US equities rallied higher, regaining ground in the last week of August, following a month of losses. The Dow Jones and the S&P 500 both gained 0.6%, while the Nasdaq advanced 0.84%, with Meta and Apple trading higher. However, the information technology sector of the S&P 500 is down almost 5% for the month, and all three major benchmarks have lost ground in August. European shares traded higher, as investors weighed the prospect of higher interest rates from the US Federal Reserve. Markets were closed in the UK for a public holiday. While Germany’s Dax and France’s CAC both advanced over 1%, and the STOXX600 gained 0.9%. What to watch today: The SPI futures are suggesting that our local market will open 0.35% higher this morning. In economic news, the RBA’s Deputy Governor Michele Bullock is set to give a speech at 11:30am AEST today. And Reporting Season continues, so watch the share price movements of the company’s reporting today, including Cooper Energy (ASX:COE), Mineral Resources (ASX:MIN), Star Entertainment (ASX:SGR) and Tyro Payments (ASX:TYR) and Zip Co (ASX:ZIP). Looking at commodities, Crude oil is in the green, extending gains for the third straight session, as risk sentiment improves. However, investors are still cautious about the prospect of higher global oil supply and weaker demand. Gold continues to advance as investors await US economic data out this week, which will likely guide the interest rate outlook. And iron ore continues to jump, currently up a further 1.3% at US$117.50 per tonne, reaching its highest level in a month, amid high hopes for strong demand from steel producers. And there are a long list of companies set to go ex-dividend today. Remember this often sees share prices fall, as investors take their profits. A few today include Bega Cheese (ASX:BGA), Insurance Australia Group (ASX:IAG), Lottery Corporation (ASX:TLC) and Worley (ASX:WOR).Trading Ideas:Bell Potter maintains their SELL rating on Fortescue Metals Group (ASX:FMG), after the mining giant reported its FY23 financial result, which was in-line to slightly below Bell Potter’s forecasts on an underlying basis. They’ve lowered their price target by 3% to $15.53 and at FMG’s current share price of $19.87, implying a 22% loss. And Trading Central have identified a bullish signal in Helia Group (ASX:HLI), indicating that the stock price may rise form the close of $3.84 to the range of $4.09 to $4.15 over 20 days, according to the standard principles of technical analysis. 

Wall Street closed higher on Friday as investors welcomed comments made by Fed Chair Jerome Powell at the Jackson Hole symposium regarding stronger economic growth than expected.The Nasdaq advanced almost 1% on Friday while the S&P500 rose 0.7% and the Dow Jones also lifted 0.7%. Over in Europe, markets closed mixed on Friday ahead of the European Central Bank President’s speech at the Jackson Hole Symposium in Wyoming over the weekend. On Friday, the STOXX600 fell 0.04%, Germany’s DAX rose 0.07%, the French CAC added 0.21% and, in the UK, the FTSE100 rose 0.07%.Locally on Friday, the ASX200 fell 0.93%, weighed down by the tech sector falling 2.51%, while consumer staples and consumer discretionary stocks were the only to sectors to finish the final trading session of the week in the green. Lovisa rose 6.3% on Friday after the fashion jewellery retailer released strong FY23 results including revenue up 30% to $596.5m and net profit lifting 16.7% to $68.2m. While the results fell short of Bell Potter expectations, investors appeared impressed with the company’s report. Wesfarmers also rallied 3.2% on Friday after also releasing strong FY23 results led by a surge in revenue for Kmart and NPAT up 4.8% in FY23 against a slowing consumer spend environment. Another inclusion for Wesfarmers was the announcement of a 6.1% rise in the full year dividend.What to watch today: Ahead of the local trading session here in Australia the SPI futures are expecting the ASX to open Monday’s session up 0.28%.On the commodities front this morning, oil is trading 0.57% higher at US$80.29/barrel, gold is down 0.11% at US$1915/ounce and iron ore is up 1.3% at US$117.50/tonne.Stocks trading ex-dividend today include Coronado Global Resources (ASX:CRN), Challenger (ASX:CGF), Domino’s Pizza (ASX:DMP), Santos (ASX:STO) and Aurizon (ASX:AZJ). If you’ve been thinking about these stocks, it might be worth considering buying in today, as stocks trading ex-dividend generally trade lower on the ex-dividend date.Australian preliminary retail sales data for July is out today with consensus expecting a rise of 0.3% for the month, up from a 0.8% fall in June which if the reading comes in-line with or above expectations, we could see a rally for consumer discretionary stocks today as this will indicate Aussie’s are still spending despite the high cost-of-living environment.AU$1.00 is buying US$0.64, 93.84 Japanese Yen, 50.84 British Pence and NZ$1.08. Trading Ideas:Bell Potter has slightly decreased the price target on Cobram Estate Olives (ASX:CBO) from $1.75 to $1.70 and maintain a buy rating on the specialised olive oil producer and marketer following the release of the company’s FY23 results which came in line with expectations including 31% growth in revenue, and a key highlight was US NPAT of $7.7m which compares to a $0.7m loss in FY22. The outlook provided includes the expectation for sales to remain positive in FY24 both in the US and Australia, sufficient olive oil inventory levels despite lower-than-expected FY23 crop, and US harvest is expected to be materially higher than FY23. The reason for the price target decrease is as Bell Potter does not see the current share price as reflecting the inbuilt value upside of the farming and processing assets, and the inbuilt growth that is likely to emerge in the brand as company owned and third-party oil production lifts.And Trading Central has identified a bearish signal on Ingenia Communities Group (ASX:INA) following the formation of a pattern over a period of 59-days which is roughly the same amount of time the share price may fall from the close of $3.97 to the range of $3.25 to $3.40 according to standard principles of technical analysis.

So far this reporting season, 192 companies have reported, with 64 beating expectations, 70 meeting expectations, and 58 falling short of expectations. 29 companies have been upgraded by brokers while 23 have been downgraded. This week, supermarket giants released results with vastly different reactions from investors. The Aussie share market rose 0.48% (Mon-Thu) as a rally on the Nasdaq in the US fuelled a rally for local tech stocks.The local tech sector rose 2.5% over the four-trading days. In this week's wrap, Grady covers:(0:28) Investor reactions to the supermarket giants’ results(1:30) Inghams Group (ASX:ING) & Qantas (ASX:QAN) results(3:19) China’s impact on the mining sector(3:56) Healthcare companies being the brunt of investor sell-off(4:42) Key themes this reporting season(5:21) Best performing stocks in the ASX200(6:06) The most traded stocks & ETFs by Bell Direct clients(6:41) Three economic news items to watch out for

Wall St fell sharply on Thursday, despite a tech rally which was led by a stronger than expected results from chipmaker Nvidia. The S&P 500 finished the day 1.35% lower, which was followed by the Dow Jones and the tech heavy Nasdaq losing 1.08% and 1.87% respectively.Nvidia’s share price reached an all time high after its revenue and earnings significantly exceeded analysts’ expectations. The tech giant has also raised guidance with analysts’ predicting third quarter revenue to climb to $16 billion US dollars.The S&P500’s information technology sector performed poorly on Thursday, ending the day down 2.15%. Shares of major tech companies such as Amazon and Apple finished lower by 2.7% and 2.6%.Over in Europe, markets ended lower on Thursday as tech stocks fell by 2.3%. The STOXX600 ended the day 0.4% lower, with the financial services sector slightly offsetting losses, gaining 0.5%. Germany’s DAX closed 0.68% lower while the French CAC also ended the day 0.44% lower. This was slightly offset by the UK’s FTSE 100 which ended 0.18% in the green on Thursday.Locally yesterday, the ASX 200 closed 0.47% higher on the back of strong results from the info tech sector which finished the day 4.2% higher. This was further supported by the financial sector and energy sector closing the day 1.04% and 0.89% higher respectively. This was offset by the consumer staples sector which closed 1.09% lower on Thursday.What to watch: The Australian share market is set to open lower, with the SPI futures suggesting a fall of 1.28% at the open this morning.On the commodities front this morning,Oil is up by 0.1% to 78 US dollars and 96 cents a barrel after deteriorating economic situations in China.Gold is up 0.15% higher to 1915 US dollars an ounce as markets have scaled back bets on further tightening from the Federal Reserve. And iron ore is up 2.22% to 115 US dollars a tonne after renewed bets of stronger demand form steel producers.Trading Ideas: Bell Potter maintains a buy rating on Alkane Resources (ASX:ALK) and maintain a price target of $1.05 on the company after Alkane’s underlying NPAT grew 19% to $42.1m on 5% growth in gold production. Bell Potter’s analyst says that with upside of 57.9% from the closing share price, the buy rating is maintained in accordance to the rating structure.And Trading Central has identified a bullish signal in Tabcorp Holdings (ASX:TAH), following the formation of a pattern formed over 20 days, which is roughly the same amount of time the share price may rise form the close of $1.09 to the range of $1.13-$1.15, according to the standard principles of technical analysis.

A decline in bond yields paired with anticipation for the release of Nvidia’s quarterly results, fuelled Wall Street to close in positive territory overnight. The Nasdaq extended its rally into a third straight session, adding 1.6%, while the Dow Jones rose 0.5%, and the S&P500 gained 1.1%.After the closing bell Nvidia, the chip making stock leading the AI hype in 2023, reported quarterly earnings including record revenue up 88% in Q2 from Q1 to US$13.51bn, and record data centre revenue up 141% on Q1 to US$10.32bn. Net income popped from US$656m in the three months ended July 31st, 2022, to US$6.188bn in the three months ended July 30th, 2023. The benchmark ten-year treasury yield that hit its highest level since 2007 on Monday, dipped more than 11 basis points overnight to 4.21% which increased investor appetite for equities.Inflationary pressures and expected cooling consumer demand are weighing on apparel giants like Nike as the sports brand fell for a 10th straight session on Wednesday, while Footlocker tumbled 28% after reporting a decline in sales and lowering its forecast for the second time this year.Over in Europe markets closed marginally higher across the region on Wednesday led by a jump in utilities stocks adding 1.1%. Germany’s PMI figures were released overnight showing a steep downturn in manufacturing output alongside a plunge in business activity. The STOXX600 rose 0.4%, Germany’s DAX added 0.15%, the French CAC lifted 0.08%, and in the UK, the FTSE100 rose 0.68%.Locally yesterday, the ASX closed 0.38% higher as strong gains for consumer staples, materials and consumer discretionary stocks offset the tech sector’s near 5.3% decline. The reason for the tech sector slide was on the back of WiseTech Global tumbling 20% on weaker-than-expected guidance for FY24 and a return to acquisition growth strategy which will squeeze profit margins.What to watch today:Ahead of the new local trading session today, the SPI futures are expecting the ASX to open 0.51% higher on the back of Wall St rallying overnight.On the commodities front this morning, oil is trading 1.24% lower at US$78.65/barrel, gold is up 1.03% at US$1917/ounce, and iron ore is up 3.21% at US$112.50/tonne.AU$1.00 is buying US$0.65, 93.87 Japanese Yen, 50.33 British Pence and NZ$1.08.Trading Ideas:Bell Potter has downgraded the rating on Cedar Woods Properties (ASX:CWP) from a buy rating to a hold rating and have slightly increased the price target on the company from $5.20 to $5.30 following the release of the company’s full year FY23 results. For the year, Cedar Woods reported turnover increased to $391m which was stronger than expected due to higher settlements falling in June, a slight decrease in the full year dividend to 20cps from 26cps, and no guidance was offered for FY24. The reduction to a hold rating is on the back of Cedar Woods shares performing well in CY23, up 23% from December 31st 2022, and trading at a 9.9x FY24 expected EPS. The recent share price strength means Bell Potter expects shares to mark time until there is more certainty in the path of interest rates and guidance from the company.And Bell Potter has decreased the price target on Wisetech Global (ASX:WTC) and maintain a hold rating on the leading global provider of logistics services software following the release of the company’s FY23 results. While the FY23 results were in line or slightly above Bell Potter expectations and the company’s own guidance, the guidance for FY24 for EBITDA was below Bell Potter and market expectations driven by recent acquisitions thus changing the price target to factor in lower-than-expected margins as the company undertakes an acquisition growth strategy.

Wall Street closed mixed on Tuesday amid investor concerns over rising bond yields, sentiment wavering ahead of a key speech later this week from Fed Chair Jerome Powell and on key banking downgrades out of S&P Global. Several regional banks including KeyCorp and Comerica fell 4% on Tuesday after S&P Global cut credit ratings on several banks citing ‘tough operating conditions’ as the reason for the downgrade. The S&P500 fell 0.3% on Tuesday while the Dow Jones lost 0.5% and the tech-heavy Nasdaq posted a small gain at the closing bell.Rising bond yields are placing pressure and adding further downside to equities in the US, with cash and short-dated bonds yielding 5% plus, thus attracting investors to the returns received from bonds over equities at these current levels.And in Europe, markets closed higher across the region on Tuesday as a rise in technology stocks boosted gains across the board. French game maker Ubisoft Entertainment rose 9% after Microsoft said it would divest several gaming rights to the company as part of a new deal submitted to UK regulators for its takeover of Activision Blizzard, according to CNBC. Investors are also monitoring European natural gas prices which saw a sharp rise earlier this week amid threat of strike action in Australia which could disrupt 10% of the world’s LNG flows. The STOXX600 rose 0.7% on Tuesday while Germany’s DAX added 0.66%, the French CAC rose 0.59% and, in the UK, the FTSE100 lifted 0.18%.The local market rose just 0.09% on Tuesday following a half a percent loss on Monday as the market volatility driven by global market moves and macroeconomic news out of China continues to impact investor sentiment. China’s sluggish recovery continues to go from bad to worse with weak retail sales and manufacturing output data providing further indication that the world’s second largest economy is struggling to regain momentum post pandemic. With no material stimulus to support recovery coming out of the Chinese government yet aside from some slight interest rate cuts and hub-support, the economy is looking to continue its deflation journey over months to come.Heavy losses among consumer staples and information technology stocks on Tuesday were offset by strength in the consumer discretionary and energy sectors. IRESS tanked 36% while Premier Investments and Breville led the gains, adding 12% and 9% respectively.What to watch today:Ahead of the local trading session here in Australia, the SPI futures are expecting the ASX to open the midweek session down 0.24%.On the commodities front this morning, oil is trading 0.38% lower at US$79.80/barrel, gold is up 0.18% at US$1897/ounce and iron ore is up almost half a percent at US$109/tonne.AU$1.00 is buying US$0.64, 93.68 Japanese Yen, 50.04 British Pence and NZ$1.08Trading Ideas:Bell Potter has increased the price target on Mader Group (ASX:MAD) from $6.10 to $6.90 and maintain a hold rating on the leading provider of specialised contract labour for maintenance of heavy mobile equipment in the resources and civil industries, following the release of the company’s FY23 results including revenue up 51% YoY to $608.8m, EBITDA up 57% to $75.1m and underlying NPAT up 48% YoY to $38.5m. Mader Group also expects FY24 revenue of at least $770m and NPAT of at least $50m implying material growth in the new financial year.And Trading Central has identified a bullish signal on Terracom (ASX:TER) following the formation of a pattern over a period of 45-days which is roughly the same amount of time the share price may rise from the close of $0.48 to the range of $0.55 to $0.57 according to standard principles of technical analysis.

Wall St has ended mixed on Monday as the Nasdaq ended its four-day losing streak. The S&P 500 rose 0.69% while the Nasdaq added 1.56%. On the other hand, the Dow Jones closed marginally lower by 0.11%.Earnings season continued on Monday with Palo Alto Networks releasing stronger-than-expected results, which saw its share price rise 14.5% on Monday. Tesla and Meta also climbed 7% and 2.4% respectively to rebound from recent losses.The 10-year Treasury note yield has reached a high of 4.34%, its highest level since November 2007. This is usually bad for tech and growth stocks as it lowers their promised future earnings.Over in Europe, markets closed marginally higher after hitting a six-week low at the end of last week. The STOXX 600 ended the day 0.1% higher, with auto stocks leading gains, up by 1.1%. Germany’s DAX finished the day up 0.19%, the French CAC rose 0.47% and, in the UK, the FTSE 100 ended the day marginally lower by 0.06%.Locally yesterday, the ASX200 closed 0.46% lower as the consumer staples sector closed 1.34% lower followed by the info tech sector closing 1.32% lower. The heavy losses were partially offset by the consumer discretionary sector ending the day 0.83% higher.What to watch today: The Australian share market is set to open higher, with the SPI futures suggesting a rise of 0.24% at the open this morning.On the commodities front this morning, Oil is down 0.52% to US$80.82 a barrel as concern over China’s economy sparks a concern on market sentiment. Gold is up 0.35% to US$1894 an ounce as China premiums on gold hit its highest level since December 2016. And iron ore is up 0.93% to $US108.50 a tonne as steel hubs are yet to follow through on production cuts.Trading Ideas:Bell Potter maintains a buy rating on Elders (ASX:ELD) but have raised the 12-month price target on the agriculture company by 15 cents to $7.40. Turnoff volumes have continued to recover from the lows experienced in the 2nd half of FY23 and cattle turnoff volumes are up 19% year-on-year.And Trading Central has identified a bullish signal in IGO Ltd (ASX:IGO), following the formation of a pattern over a period of 26-days which is roughly the same amount of time the share price may rise from the close of $12.48 to the range of $15.90-$16.70, according to the standard principles of technical analysis.

Wall Street ended mixed on Friday as gains in energy and defensive sectors like consumer staples and utilities offset weakness in large growth stocks on the Nasdaq. Alphabet and Tesla fell 1.9% and 1.7% respectively as investors fear interest rates could remain higher for longer which prompted the sell-off in technology stocks. The Dow Jones rose 0.07%, the S&P500 fell 0.01% and the tech-heavy Nasdaq lost 0.2%. Over the last 3 weeks, the Nasdaq has fallen 7.2%, its biggest decline since December. Beauty company Estée Lauder tumbled 3.3% on Friday after the company’s annual net sales and profit fell short of analysts’ expectations.Over in Europe, markets closed lower across the region as investor sentiment slides on global economic concerns and further runway for tighter monetary policy. The STOXX600 fell 0.6%, Germany’s DAX lost 0.65%, the French CAC fell 0.38%, and, in the UK, the FTSE100 fell 0.65%.Danish hearing aid manufacturer GN Store Nord fell 5.9% on Friday after JPMorgan cut its price target on the company following significant losses and weak second quarter results released on Thursday.Locally on Friday the ASX rose just 0.03% as a 1.9% sell off among communication services stocks was offset by gains in the real estate and utilities sectors. For the week, the ASX fell 2.62% in line with the global market sell-off amid investor sentiment dampening on future rate hike outlook, slowing earnings growth out of reporting season results, and the Chinese economy continuing its sluggish growth post-pandemic.What to watch today: Ahead of the opening bell this Monday, the SPI futures are anticipating the ASX to open 0.32% lower.On the commodities front this morning, oil is trading 0.06% higher at US$81.30/barrel, gold is up 0.07% at US$1890/ounce, and iron ore is up almost 1% at US$108.50/tonne.Stocks trading ex-dividend today include Vicinity Centres (ASX:VCX) and Steadfast Group (ASX:SDF). If you’ve been thinking about these stocks, it might be worth considering buying in today as stocks trading ex-dividend generally trade lower on the ex-dividend date.AU$1.00 is buying US$0.64, 93.12 Japanese Yen, 50.04 British Pence and NZ$1.08. Trading Ideas: Bell Potter has downgraded the rating on PWR Holdings (ASX:PWH) from a buy to a hold and maintain a $10.50 12-month price target on the leading provider of customised cooling solutions for the global automotive industry. The downgrade was following the release of FY23 results where revenue was a slight beat while gross profit and EBITDA were slight misses. The company also failed to issue any guidance for FY24 and cash at bank was lower than Bell Potter was expecting due to higher CAPEX.And Trading Central has identified a bullish signal on Piedmont Lithium (ASX:PLL) following the formation of a pattern over a period of 22-days which is roughly the same amount of time the share price may rise from the close of $0.72 to the range of $0.92-$0.96 according to standard principles of technical analysis.

The number of companies reporting results this week increased. The outlook for the healthcare sector seems to be slowing whilst in the technology sector, Life360 (ASX:360) surprised investors on the upside. The broader Aussie share market tumbled 2.64% (Mon-Thurs) as Chinese economic data and downgrade warnings for US banks weighed on sentiment. In this week's wrap, Grady covers: (0:20) The major name sold off by investors(1:12) Why investors have fallen out of love with the healthcare sector(2:00) Margin contraction & income-investing(2:33) Life360’s (ASX:360) strong results(3:35) NAB’s (ASX:NAB) results and the crowd goes mild(4:10) Key takeaways for the week that was(5:36) Best performers(6:11) Most traded stocks & ETFs by Bell Direct clients(6:41) Three economic news items to watch out forRead transcript article here.

Wall St fell for a third straight day as investors reacted to the latest round of earnings season results released. The Dow Jones dropped by 0.84%, the S&P 500 fell by 0.77% and the tech-heavy Nasdaq lost 1.17% overnight.The 10-year treasury yield peaked, at its highest point since late 2022 on Thursday on outlook from the Federal Reserve’s July meeting minutes signaling further rate hikes may be required to control inflation in the region.American retailer Walmart fell more than 2% after an earnings and revenue beat in the second quarter. This is continuing a trend with major averages in losing territory in August for stocks.European markets fell on Thursday following the US Federal Reserve’s July meeting minutes which outlined further rate hikes may be on the horizon. The STOXX600 closed Thursday 0.90% lower, the German Dax followed suit falling 0.71% with the French CAC and FTSE 100 dropping 0.94% and 1.03% respectively. Locally yesterday, the ASX200 closed the day 0.68% lower with the industrial and health sectors taking the biggest hit while real estate and energy stocks rallied to offset some of the session’s heavy losses. What to watch today: The Australian share market is set to open lower this morning, with the SPI futures suggesting a fall of 0.39% at the open this morning.On the commodities front this morning, oil is up 0.98% to US$80.16 a barrel, gold has fallen marginally lower by 0.11% to US$1889 an ounce and Iron ore is trading flat at US$104 a tonne.Trading Ideas: Bell Potter maintains a buy rating on Adacel Technologies (ASX:ADA) have decreased the 12-month price target from 80 cents per share to 75 cents per share. This is following a lower than forecasted profit before tax and gross profit outlined in the company’s FY23 results. FY23 revenue levels remained above expected which supports the maintenance of the buy rating.And Trading Central has identified a bearish signal in The Lottery Corp (ASX:TLC) indicating that the stock price may fall from the close of $5.18 to the close of $4.91-$4.97 over the pattern formed over 16 days, according to the standard principles of technical analysis.

Wall Street extended its red run into Wednesday as investors digested the latest FOMC meeting minutes that included some Fed officials saying further rate hikes may be needed to bring inflation down to the target. The meeting minutes also outlined the current robustness in the economy shown through recent third quarter GDP estimates and retail sales data are not what the Fed wants to see. The Dow Jones fell just over half a percent on Wednesday, the S&P500 lost 0.76% and the tech-heavy Nasdaq fell 1.15%.TJX Companies rose 4% after the discount retailer beat Wall St expectations for Q2, while Target rallied 4% even after the retailer cut its full-year earnings forecast and second quarter sales fell short of expectations.Over in Europe, markets closed lower in the region as investors assessed the latest inflation data out of the UK. The reading of inflation came in at 6.8%, which was a sharp decline from 7.9% in June mainly due to a slump in fuel prices. This reading was in line with expectations which poses a headache for the Bank of England as inflation is showing signs of cooling but wages growth yesterday continues to rise.Locally, the ASX fell 1.5% on Wednesday after taking lead from the US on Tuesday and as investors digested the latest slew of poor economic data out of China indicating the economic recovery in the region remains sluggish. Information technology stocks took the biggest hit locally yesterday, though every sector closed the midweek session in the red.Endeavour Group fell over 4% on Wednesday despite the company reporting FY23 results that fell short of analysts’ expectations. Investors may have sold out after the company failed to issue outlook for FY24 but FY23 turned out strong with NPAT up 6.9% to $529m and the full year dividend up 7.9% to 21.8cps.What to watch today:Ahead of the local trading session the SPI futures are anticipating the ASX to open 0.32% lower, extending yesterday’s losses into Thursday’s trading session.On the commodities front this morning oil is down 1.99% at US$79.38/barrel, gold is down 0.53% at US$1891.55/ounce and iron ore is up almost half a percent at US$104/tonne.AU$1.00 US$0.64, 93.95 Japanese yen, 51.22 British pence and NZ$1.08.Trading Ideas:Bell Potter has increased the price target on Life360 (ASX:360) from $9.25 to $10.50 and maintain a buy rating on the location services and hardware technology company following the release of the company’s first half results including revenue and adjusted EBITDA beating Bell Potter expectations. Life360 also announced total paying circles were up 62,000 quarter-on-quarter which nearly doubled what BP was expecting and cash as at June 30 was $64.2m which also beat forecasts.And Trading Central has identified a bullish signal on Australian Clinical Labs (ASX:ACL) following the formation of a pattern over a period 58-days which is roughly the same amount of time the share price may rise from the close of $3.27 to the range of $3.71 to $3.81 according to standard principles of technical analysis.

In New York overnight, US equities closed lower as investors concerns over the state of the global economy, particularly in China, sparked a sell-off in equities, in addition to banking stocks weighing down the market. The Dow Jones fell 1.02%, the S&P500 lost 1.16% and the tech-heavy Nasdaq fell 1.14% on Tuesday. In Europe, markets closed lower on Tuesday as wages data in the UK weighed on investor sentiment. The UK median monthly wage, excluding bonuses, rose 7.8% in July from the prior corresponding period which is the largest annual growth rate since the records began in 2001, and provides further reason for the bank of England to continue raising interest rates to tackle inflation in the region. Unemployment in the UK also rose unexpectedly though from 4% to 4.2% in the three months to June. The RBA’s meeting minutes were released yesterday which could have boosted investor sentiment as the key takeaways were the slowing economy and acute pressure on household finances were behind the latest rate pause. We are not out of the woods yet though as the RBA did say at the latest meeting that further monetary tightening may be required to ensure inflation reaches the target 2-3% range within a reasonable timeframe.Lake Resources (ASX:LKE) soared 25% yesterday, extending the rally this week after the lithium explorer released an update on its flagship Kachi Project. The update outlined the company reported successful stage 1 extraction and injection testing at the site to support the production of high purity battery grade lithium carbonate at the Kachi Lithium brine Project.The market rally yesterday may also have been driven by the release of Australia’s annual Wage Price Index data for Q2 coming in at growth of 3.6% which was lower than expectations of 3.7% growth, in a sign wages inflation is starting to ease.Iron ore slipped below US$100/tonne yesterday to near its lowest intraday level since June following China’s surprise 15-basis point interest rate cut on the one-year medium-term lending facility, alongside further economic data that indicated the economy’s recovery remains sluggish.China’s industrial production data came in at a 3.7% rise for July, down from a 4.4% rise in June and below economists’ expectations of another 4.4% rise for July. The softest manufacturing activity was reported in mining output as well as electrical machinery and apparatus output. Chinese retail sales data was also released yesterday which broadly missed expectations as consumer spend on retail in the region rose by 2.5% in July from a year ago, below expectations of a 4.5% rise.What to watch today:• Ahead of the local trading session here in Australia the SPI futures are expecting the local index to open 1.04% lower amid the global market sell-off overnight.• On the broader commodities front this morning, oil is trading 1.77% lower at US$81/barrel, gold is down 0.23% at US$1903/ounce, and iron ore is down 1.9% at US$103.50/tonne.• AU$1.00 buying US$0.65, 94.16 Japanese Yen, 51.22 British Pence and NZ$1.08.Trading Ideas:• Bell Potter has increased the price target on Pro Medicus (ASX:PME) from $67 to $70 and maintain a hold rating on the leading health imaging IT provider following the release of the company’s FY23 results including revenues increasing by 34%, and EBIT increased 34%, both of which beat expectations. Bell Potter sees the drivers of growth remain firmly in place i.e. too few radiologists, and more managed care leading to more need for diagnostic imaging.• And Trading Central has identified a bearish signal on Goodman Group (ASX:GMG) following the formation of a pattern over a period of 66 days which is roughly the same amount of time the share price may fall from the close of $19.89 to the range of $17.90 to $18.20 according to standard principles of technical analysis.

Wall St closed higher on Monday as big tech names and chip stocks posted strong results. The S&P 500 finished the day 0.58% higher, the tech heavy Nasdaq followed suit posting a 1.05% gain, and the Dow Jones closed marginally higher by 0.07%.Software company Nvidia ended the day 7.1% higher, rebounding from an 8.5% sell off last week. This was further boosted with Morgan Stanley touting Nvidia as a ‘top pick ahead of earnings’.Over in Europe, there was a mixed reaction in markets after several down sessions last week. The Stoxx 600 closed marginally higher by 0.1% with retail stocks and financial services leading the way. The German DAX finished the day up 0.46% and the French CAC also finished the day 0.12% higher. However the FTSE 100 ended Monday 0.23% lower.Locally yesterday, the ASX200 ended the first trading session of the week down 0.86% as a sharp sell-off in materials stocks weighed on the key index. The communications services, energy and info tech sectors were the only sectors to close higher on Monday. Lake Resources led the winning stocks on Monday, jumping 7.7% while Carsales.com added 7% on strong FY23 results. Syrah Resources and Elders fell 6.85% and 6.10% respectively yesterday.What to watch today: The Australian share market is set to open flat this morning.In terms of economic data, the RBA minutes meeting will be released today at 11:30am AEST.On the commodities front this morning, crude oil is down 0.88% to US$82.45 a barrel. Gold is down 0.33% to US$1907 an ounce after mounting pressures from a strong dollar and iron ore is up 1.93% to US$105.50 a tonne.Trading Ideas:Bell Potter maintains a buy rating on Beach Energy (ASX:BPT) with a 12-month price target of $2. Beach Energy has a strong fully funded growth outlook diversified across five energy basins and four separate gas markets. The company is also rolling off peak capex into a step change in production and expects free cash flow in FY25-26.And Trading Central has identified a bullish signal in Super Retail Group (ASX:SUL) indicating that the stock price may rise from the close of $12.85 to the range of $13.70-13.90 over a pattern formed in 53 days, according to the standard principles of technical analysis.

Wall Street closed mixed on Friday with the Nasdaq posting a second weekly loss for the first time in 2023 as semiconductor stocks weighed on the tech heavy index. Over the week, the Dow Jones added 0.6%, while the S&P500 and Nasdaq each dropped 0.3% and 1.9% respectively.July producer price index data was released in the U.S. on Friday and confirmed inflation remains sticky in the region. The data showed a rise of 0.3% on June which was above the 0.2% economists were expecting. News Corp shares rallied on Friday after the media company reported an earnings beat in Q4.Over in Europe, markets closed lower on Friday as investors continued to digest corporate earnings results alongside the release of unfavourable PPI data in the U.S. The STOXX600 fell 1.1% on Friday while Germany’s DAX lost just over 1%, the French CAC fell 1.26%, and in the UK, the FTSE100 fell 1.24%.On Friday, UK economic output data was released showing economic output grew by 0.5% in June, which was higher than the expected growth of 0.2%.Locally on Friday, the ASX200 fell 0.24%, weighed down by a sharp sell-off in the energy sector, while consumer discretionary and health care stocks offset some of the heavy losses to end the week higher. The sell-off on Friday was driven by investors responding to a slew of earnings results released including Baby Bunting dropping almost 2% after profit fell 51% and the full year dividend was slashed by 52% in addition to cost-cutting measures announced in the FY23 results.What to watch today: Ahead of the local trading session here in Australia, the SPI futures are expecting the ASX to open 0.41% lower to start the new trading week in the red.On the commodities front this morning, oil is trading 0.3% lower at US$82.96/barrel, gold is up 0.08% at US$1915/ounce and iron ore is up 1.93% at US$105.50/tonne.Stocks trading ex-dividend today include EUROZ Hartleys Group (ASX:EZL) and Suncorp Group (ASX:SUN). If you’ve been thinking about these stocks, it might be worth considering buying in today as stocks trading ex-dividend generally trade lower on the ex-dividend date.AU$1.00 is buying US$0.65, 94.14 Japanese Yen, 51.35 British Pence and NZ$1.08. Trading Ideas: Bell Potter has initiated coverage on Task Group Holdings (ASX:TSK) with a buy rating and a 12-month price target of $0.62. Task Group is an end-to-end Transaction Management and Customer Engagement platform that delivers a B2B Software as a Service solution to high quality enterprise clients including McDonalds, Starbucks and Compass Group in Australia, to manage the experience for customers from pre-order to payment. Bell Potter sees Task is trading at a 20% discount to global industry peers and the buy recommendation is based on the company’s exposure to future-facing growth and profitability.And Trading Central has identified a bullish signal on Harvey Norman (ASX:HVN) following the formation of a pattern over a period of 34-days which is roughly the same amount of time the share price may rise from the close of $3.87 to the range of $4.35 to $4.45 according to standard principles of technical analysis.

Reporting season ramped up this week, with investors reactive to news both good and bad. The Aussie share market rose 0.44% this week (Mon-Thu) as a 2.73% gain for the energy sector offset losses in the tech and healthcare sectors.In this week's wrap, Grady covers:(0:21) CBA’s (ASX:CBA) record cash profit (0:49) Boral (ASX:BLD) & Cettire’s (ASX:CTT) strong results (2:37) Downer’s (ASX:DOW) dampened trading (3:05) What this week told investors & next week’s outlook (3:56) US inflation data moving markets(5:04) Best performing stocks in the ASX200 (6:11) The most traded stocks & ETFs by Bell Direct clients (6:45) Three economic news items to watch out for

Wall St closed slightly higher on Thursday following the release of key inflation data that came in line with consensus expectations of a slight month-on-month growth by 0.2% while the annual inflation rate rose to 3.2% from 3% in June. While this reading was a slight uptick in inflation, it was expected and the annual rate came in under expectations of 3.3%, indicating inflation in the region remains sticky, but not out of control. On an earnings front, Disney led the Dow Jones higher after releasing third quarter results including a earnings per share of $1.03 which beat expectations and the media giant announced an upcoming price hike for ad-free Disney+ subscriptions. The Dow Jones added 0.15%, the S&P 500 edged slightly higher by .03% and the tech heavy Nasdaq ended the day up 0.12%.Over in Europe, markets closed higher on Thursday as positive earnings results were released in the region and investors reacted to US inflation data reading below expectations. The Stoxx 600 finished the day up 0.8% following a 2.2% growth in household goods stocks. The German Dax ended the day up 0.91%, the FTSE 100 closed 0.41% higher and the French CAC rose 1.52% by market close.Locally yesterday, the Australian market closed 0.26% higher driven by strong gains for the energy and consumer discretionary sectors which rose 2.27% and 0.60% respectively. The strong gains were slightly dampened by a 1.79% drop in the info-tech sector.What to watch today:The Australian share market is set to open lower, with the SPI futures suggesting a fall of 0.27% at the open this morning.On the commodities front this morning,Oil is down 1.87%, trading at US$82.82/barrel as economic data concerns have renewed demand fears. Gold is down 2.52% at US$1912/ounce after the US announced slower than expected inflation growth. And iron ore is trading down 2% at US$103.50/tonne as disappointing economic data from China has reduced demand in the construction industry.Trading Ideas:Bell Potter maintains a buy rating on luxury online fashion retailer, Cettire (ASX:CTT) and has increased the 12-month price target on the company from $3.90 to $4 on the back of the company releasing very strong results including sales revenue up 98% on the prior corresponding period, and a healthy demand environment across all of the company’s operating regions. And Trading Central has identified a bullish signal on Perenti (ASX:PRN), following the formation of a pattern over a period of 29 days which is roughly the same amount of time the stock price may rise from the close of $1.22 to the range of $1.41 to $1.45, according to the standard principles of technical analysis.

Wall St closed lower again on Wednesday as investors await key inflation data out of the US later this week to gauge an insight into whether inflation is cooling or remains sticky which will give a hint as to the next rate move out of the Federal Reserve. The Dow Jones industrials index closed 0.54% lower, the S&P500 fell 0.7% and the tech-heavy Nasdaq lost 1.17%.The US inflation reading for July is out on Thursday US time with economists expecting inflation to rise 3.3% in July from a 3% rise in June which would indicate inflation remains sticky in the world’s largest economy. Penn Entertainment soared 9.1% on Wednesday after the casino company said it is launching an online sportsbook with ESPN called ESPN Bet. Roblox on the other hand tanked 22% after missing Wall St expectations in second quarter results.Over in Europe, markets recovered from Tuesday’s sell-off to close higher on Wednesday as investors digested China’s disinflation and Italy’s weakening of the surprise windfall tax on banks announced earlier this week. Italy’s finance ministry announced late on Tuesday that the tax on net interest income would be capped at 0.1% of risk-weighted assets – one fifth of the level that Citi had estimated it could reach according to CNBC. The STOXX600 closed 0.4% higher, Germany’s DAX added half a percent, the French CAC rose 0.72% and, in the UK, the FTSE100 climbed 0.8%.Locally on Wednesday, the key index rose 0.37% led by financials stocks jumping 1.21% on the back of CBA releasing strong FY23 results. Healthcare stocks underperformed the market on Wednesday, with the sector closing down 0.9%, while tech stocks continued to rally, up 0.87% at the closing bell.CBA’s results were the highlight of Wednesday’s trading session with the big bank announcing a record cash profit of $10.16bn boosted by higher interest rates, net interest margin up 17 basis points on FY22 to 2.07%, and dividends per share of $4.50 in FY23, up 17% on FY22. Investors responded positively to the results with the CBA share price rising 2.6% on Wednesday.On the economic data front, China’s annual inflation rate came in at a reading of minus 0.3% year on year in July which is the first decrease since February 2021. Combining this data with Chinese PPI coming in recently at a -4.4% decline, a 10th straight month that prices have been negative, indicates the Chinese economy is well and truly in deflation mode and more stimulus out of the Chinese government is required to kickstart the economy back into growth mode.What to watch today:Ahead of the local trading session here in Australia the SPI futures are expecting the ASX to open Thursday’s session 0.05% higher.On the commodities front this morning, oil is trading 1.63% higher at US$84.30/barrel, gold is down half a percent at US$1915/ounce and iron ore is up 1.44% at US$105.50/tonne.AU$1.00 is buying US$0.65, 93.82 Japanese Yen, 51.27 British Pence and NZ$1.08.Trading Ideas:Bell Potter has maintained a hold rating on A2 Milk (ASX:A2M) company whilst decreasing the 12-month price target on the dairy company from $5.95 to $5.70 ahead of the release of the company’s FY23 results and on the back of assessing key monthly takeaways that monitor A2’s performance. These data points include Australian exports to China remaining weak, China infant milk formula imports falling 9% year on Year and cost of goods sold continuing to fall with the average price down 22% year on year in the second half of FY23.Trading Central has identified a bullish signal on Evolution Mining (ASX:EVN) following the formation of a pattern over a period of 83-days which is roughly the same amount of time the share price may rise from the close of $3.75 to the range of $4.40 to $4.55 according to standard principles of technical analysis.

Wall Street reversed Monday’s rally to trade lower on Tuesday after credit rating agency Moody’s downgraded the credit rating on several banks including M&T Bank and Pinnacle Financial citing deposit risk as the reason for the downgrades. Moody’s also placed Bank of NY Mellon and State Street on review for a downgrade. This caused investor fears of a further banking crisis to resurface thus sparking the sell-off on Tuesday. The Dow Jones fell 0.45% on Tuesday, while the S&P500 lost 0.42% and the tech-heavy Nasdaq declined 0.79%.And in the European region markets closed lower on Tuesday as investors await the release of significant inflation data out later this week alongside reactions to a shock banking tax announcement out of Italy in the form of a 40% windfall tax on banking profits which dragged down the banking sector on Tuesday. Banks led the losses in the region overnight while healthcare stocks bucked the trend to add 3.2%. The STOXX600 ended down 0.2% on Tuesday, Germany’s DAX fell 1.1%, the French CAC shed 0.69% and, in the UK, the FTSE100 fell 0.36%.The local market rose just 0.03% on Tuesday as a selloff in consumer staples stocks was offset by strong gains in the healthcare sector, a sector which has been sharply beaten down this year.We are preparing for the ramp up of earnings season this week which investors have already been particularly responsive to with companies that have reported, both good and bad results, experiencing double digit share price movement on the day of results being released. The US reporting season has proven to be stronger than expected, so we could see a similar outcome of results here in Australia.James Hardie Industries released first quarter results yesterday that sent the company’s share price soaring 15%. The leading global supplier of fiber cement building products reported record global adjusted EBITDA of US$279.1m, with an adjusted EBITDA margin of 29.2%, net income up 13% and operating cash flow increased 64%.JHX also provided outlook, which is a big tick for investors, but only for the second quarter of FY24, with the company expecting adjusted net income between US$170-$190m, North American, its biggest market, is expected to produce volumes to be in the range of 740-770 million and CAPEX of US$550m. What to watch today:Ahead of the local trading session here in Australia the SPI futures are expecting the ASX to open the midweek session down 0.07%.On the commodities front this morning, oil is trading 1.05% higher at US$82.8/barrel, gold is down 0.53% at US$1926/ounce and iron ore is down 2.35% at US$104/tonne amid declining demand and robust inventories of the commodity.AU$1.00 is buying US$0.65, 93.73 Japanese Yen, 51.19 British Pence and NZ$1.08.Trading Ideas:Bell Potter has reduced the price target on Smartpay (ASX:SMP) from $2.10 to $1.97 and maintain a buy rating on the payment solutions provider on the back of competitor Block releasing a quarterly update shining light on the payment space. Bell Potter has adjusted forecasts across FY24-FY26 on the grounds of material reductions to the company’s Australian transaction segment revenues on the assumption of slowing Average Revenue Per Unit reflecting an overall slowdown in consumer spending, and softer EBITDA is expected for FY24 before Bell Potter’s assumed margin expansion kicks in. Bell Potter remain positive on Smartpay however have slightly reduced the price target on these grounds.And Trading Central has identified a bullish signal on Pilbara Minerals (ASX:PLS) following the formation of a pattern over a period of 57-days which is roughly the same amount of time the share price may rise from the close of $5.32 to the range of $5.95 to $6.10 according to standard principles of technical analysis.

The four day sell-off on Wall St came to an end on Monday as corporate earnings results boosted investor sentiment ahead of another big reporting season week and the release of key inflation data out later this week. The Dow Jones advanced 1.16%, it’s best day in almost 2-months. The S&P 500 added 0.9%, and the tech heavy Nasdaq ended Monday’s session up 0.61%, however was restricted by a 1% drop in Tesla.Corporate earnings season has kicked off with a bang, with results stronger than expected. Of the 85% of companies that have posted their quarterly results so far 80% have beat Wall St forecasts according to FactSet. Over in Europe, markets closed mixed on Monday amid the ongoing release of corporate earnings results and ahead of the release of two key inflation prints later in the week. The STOXX 600 closed 0.1% higher, however the German DAX ended the day marginally lower. In the UK, the FTSE 100 fell 0.13% and the French CAC finished the day off 0.06% higher.The local market closed 0.22% lower on Monday, weighed down by investors selling out of the healthcare and financials sectors. ResMed continued its sell-off yesterday, with the healthcare company falling a further 4.23% on the back of poor performance for the stock in the US on Friday. Despite this, Goldman Sachs has said while ResMed’s latest update was disappointing on a margins front, performance should improve soon and this dip in the share price presents as a buying opportunity. What to watch today:The Australian share market is set to open higher this morning with the SPI futures suggesting a rise of 0.4% at the opening bell.In terms of economic data, both the Westpac consumer confidence data for August and the NAB business confidence data for July will be released today with the market expecting a decline in both readings.On the commodities front this morning,Oil is trading down 0.32% at US$82.56 dollars/barrel as Saudi Arabia has hinted at further production cuts Gold is trading 0.27% lower at US$1936 dollars/ounce. And iron ore, trading at yesterday’s reading of US$106.50/tonne.Trading Ideas:Bell Potter maintains a buy rating on Aeris Resources (ASX:AIS) however has significantly reduced the 12-month price target on the copper miner following the release of June quarter results including further deferrals of production at Mt Colin and Jaguar being placed on care and maintenance mode, contributing to higher overall costs and lower production.And Trading Central has identified a bearish signal on Platinum Capital (ASX:PMC), following the formation of a pattern over a period of 20-days which is roughly the same amount of time the share price may fall from the close of $1.30 to the range of $1.21-$1.23, according to the standard principles of technical analysis.

Mixed jobs data sparked a sell-off on Wall St on Friday with the key indices closing lower for the session and the week. While the number of jobs added in the month of July fell short of expectations at 187,000, unemployment ticked lower to 3.5% and average hourly wages came in above expectations rising 0.4% for the month and 4.4% annually.The release of US CPI data will be a key event this week in helping the Fed determine its next rate move following the stronger-than-expected jobs data.On Friday, the Dow Jones fell 0.43%, the S&P500 shed 0.53% and the tech-heavy Nasdaq dropped 0.36%. For the week the Nasdaq and S&P500 fell over 2% each and the Dow Jones lost 1.1%. On the earnings season front, Amazon rallied 5.5% on Friday after releasing solid second quarter results including a return to double-digit revenue growth and boosted second half guidance. Booking holdings, the parent company of Booking.com, Agoda and other travel companies, rose 7.9% on strong results amid the ongoing surge in travel demand.Apple also weighed on Wall St on Friday after the tech-giant slid more than 4% following the release of earnings results that included iPhone sales stalling more than expected in the latest quarter.Over in Europe, markets closed slightly higher on Friday as investors continued digesting corporate earnings results alongside the Bank of England’s rate hike decision. The STOXX-600 rose 0.3% on Friday, Germany’s DAX added 0.37%, the French CAC rose 0.75% and, in the UK, the FTSE100 gained 0.47% on Friday.Rolls Royce shares rose 6% on Friday after the company reported a strong recovery in profit.The local market fell in morning trade on Friday on the back of the global sell-off on Thursday before rebounding to close Friday’s session up 0.19%. Healthcare took the biggest hit on Friday as CSL and ResMed weighed on the sector.Gold miners also lost ground on Friday as the price of the precious commodity trade down over 1% last week. The 2023 favourite technology sector boosted the market into positive territory at the session’s end today with the sector climbing 0.92% at the closing bell.Trading volumes were also especially light last week so the market was likely down due to investors taking a pause ahead of the ramp up in reporting season locally this week.What to watch today:Ahead of the local trading session here in Australia the SPI futures are anticipating the ASX to open the first session of the new trading week down 0.15%.On the commodities front this morning oil is trading almost half a percent higher at US$83.20/barrel, gold is up 0.15% at US$1945/ounce, iron ore is down 1.84% at US$106.50/tonne and coffee is trading down 2.06% at US$161/pound amid concerns of oversupply.Trading Ideas:Bell Potter has increased the rating on City Chic Collective (ASX:CCX) from a hold to a buy and significantly increased the price target on the plus size fashion company from 42cps to 70cps following the company’s divestment of its Evans business and EMEA inventory which helps reduce the company’s high inventory build that has been dampening performance in recent times. Bell Potter sees the divestment as providing a clearer pathway to profitability for City Chic.And Trading Central has identified a bullish signal on South32 (ASX:S32) following the formation of a pattern over a period of 69 days which is roughly the same amount of time the share price may rise from the close of $3.94 to the range of $4.31 to $4.39 according to standard principles of technical analysis.

Reporting season kicked off this week with a small list of key names releasing results, while overseas was possibly the busiest results week in Europe and the US earnings season. Other key events driving markets were the Fitch Ratings downgrade on the US, China’s stimulus policy and Australia’s RBA rate pause. The Aussie share market fell 1.24% this week (Mon-Thu) as the local market took lead from the global market sell-off. In this week's wrap, Grady covers:(0:30) China’s stimulus package (1:45) Global large caps releasing results (4:18) Local company results   (4:50) Best performing stocks in the ASX200 (5:56) The most traded stocks & ETFs by Bell Direct clients(6:29) Three economic news items to watch out for

Wall St closed lower on Thursday amid increasing pressure from rising bond yields, which have been on the rise since the Fitch downgrade earlier this week. The S&P 500 fell for the third straight day, closing the session down 0.25%, while the Dow Jones shed 0.19% and the tech-heavy Nasdaq closed marginally lower, down 0.1%.US bond yields are trading at 4.18%, close to the highest levels since November 2022. This has had a significant impact on the real estate sector which closed more than 1% lower on Thursday.After rallying for the most part of the year, it is expected that the US market may slow after both the S&P 500 and tech heavy Nasdaq secured their 5th straight month of gains earlier this week.Over in Europe, markets in the region closed lower again on Thursday as investors assessed the latest slew of corporate earnings results alongside the Bank of England announcing a 25-basis point rate hike in a bid to tackle the stubbornly high inflation in the region. The STOXX600 fell 0.7% with tech leading the losses, closing down by 1.8% as global sentiment remains shaky on the Fitch US downgrade. Oil and gas stocks rallied though after Saudi Arabia said it would extend output cut to 1 million barrels per day. Germany’s DAX closed 0.8% lower, the French CAC lost 0.72% and, in the UK, the FTSE100 fell 0.43%. Locally, the Australian market closed 0.58% lower as a sentiment-driven sell-off in technology stocks weighed on the key index, while materials ended the day down 1.06%. The sell-off locally yesterday was driven by global market turbulence which has been the central theme over the last few days following the Fitch downgrade of the US. What to watch today: The Australian share market is set to open lower with the SPI futures suggesting a fall of 0.10% at the open this morning, extending the theme from global turbulence overnight.In terms of economic data, at 11:30am AEST the RBA is set to make a statement on monetary policy.On the commodities front this morning,Oil has jumped 2.80%, trading at US$81.61 per barrel. The price has rebounded after both Russia and Saudi Arabia announced an extension in oil output cuts. Gold rose marginally by 0.01%, however is at its lowest level in the past three weeks with incoming pressure from a strong dollar. And Iron ore has fallen 1.35% to US$109.50 after a fourth straight contraction in China’s factory activity. Trading Ideas:Bell Potter maintains a buy rating on IVE Group (ASX:IGL) as a lack of trading update suggests the FY23 guidance is set to be met or exceeded. Trading currently at $2.31, Bell potter has a 12-month price target on the company of $3.00, which suggests a 29.9% share price growth in a year.And trading central has identified a bearish signal on Ingenia Communities Group (ASX:INA), indicating that the stock price may fall from the close of $4.05 to the range of $3.35-$3.50 over a period of 18 days, according to standard principles of technical analysis.

Fitch Ratings downgrading the US credit rating to AA+ from AAA sparked a panic sell off on Wall St overnight with the Dow Jones closing the day down almost 1%, while the S&P500 lost 1.38% and the tech heavy Nasdaq tumbled 2.17%. The Nasdaq has its worst day since February as the Fitch ratings cut on the long-term foreign currency issuer default rating on the U.S. citing “expected fiscal deterioration over the next three years” as the reason behind the move. The last time the US was downgraded was in 2011 by Standard’s and Poor. Economists and analysts alike are expecting the risk-driven sell-off to be short lived and the impact of the downgrade to be temporary.Norwegian Cruise Line shares fell 3% on Wednesday, a day after the company issued weaker-than-expected guidance for the third quarter. SolarEdge Technologies tanked 19% after the company reported revenue of US$991m which fell short of analysts’ estimates of US$992m, and the company also issued weaker-than-expected guidance for Q3 revenue.Over in Europe, markets closed lower across the region as investors digested the U.S. credit rating downgrade alongside the release of key corporate results. The STOXX600 fell 1.35%, Germany’s DAX fell 1.36%, the French CAC lost 1.26%, and, in the UK, the FTSE100 fell 1.36%.Siemens Healthcare fell just under 7% on Wednesday after the company reported a third quarter profit decline.The local index closed 1.29% lower yesterday with every sector ending the midweek session in the red on the back of a sell-off in New York on Tuesday. Utilities stocks took the biggest hit, with the sector closing down 2.19% while REIT stocks gave up all of Tuesday’s gains to close down just shy of 2%.The big iron ore miners also took a hit yesterday with BHP (ASX:BHP), Rio (ASX:RIO) and FMG (ASX:FMG) falling 1.1%, 0.9% and 2% respectively on a decline in the price of iron ore to US$111/tonne. Pilbara Minerals rallied yesterday after the lithium miner announced an update on the final investment decision for its mid-stream demonstration plant with the board granting approval for construction of the plant to produce value added lithium product at Pilgangoora. The plant will cost $105m, $20m of which will be funded by an Australian government grant.What to watch today:The sell-off on Wall St is likely to impact the local market today with the SPI futures anticipating the ASX to open Thursday’s session down 0.79%.On the commodities front this morning oil is trading 2.02% lower at US$79.64/barrel, uranium is up 0.18% at US$56.24/pound gold is down almost half a percent at US$1935/ounce and iron ore is flat at US$111/tonne.AU$1.00 is buying US$0.65, 93.72 Japanese Yen, 51.52 British Pence and NZ$1.08.Trading Ideas:Bell Potter has increased the price target on PSC Insurance (ASX:PSI) from $5.86 to $6.41 and maintain a buy rating on the diversified insurance company following the release of the company’s trading update outlining that it expects it expects to deliver underlying EBITDA of $111m for FY23 subject to audit and signoff, which is well above the previously guided range.And Bell Potter has decreased the 12-month price target on Calix (ASX:CXL) from $9 to $8.70 and maintain a speculative buy rating on the emerging environmental technology company following the release Pilbara Minerals’ update on the final investment decision for the mid-stream demonstration plant which signifies a key de-risking milestone as the plant is a joint venture between PLS and Calix. The FID reflects a satisfactory level of technical and economic feasibility and lithium phosphate marketing completed to date to advance the project into construction. 

US equities closed mixed on Tuesday as investors digested corporate earnings results against the release of key economic data. The S&P500 fell 0.27%, and the tech-heavy Nasdaq lost 0.43% but the Dow Jones reversed earlier losses to close up 0.2%.The key economic data released in the US again came in favourable showing signs of resilience in the US economy against cooling inflation to support the idea that a soft landing is expected over a recession. JOLTs Job Openings data for June showed the economy added 9.582m jobs over the month, down slightly from May’s reading of 9.616m and US PMI manufacturing for July came in at 46.4 points, a slight uptick from the 46 points recorded in June.In Europe, markets closed lower on Tuesday as investors digested corporate earnings results during this busy week of corporate results being released. The STOXX600 fell 0.88%, Germany’s DAX lost 1.26%, the French CAC shed 1.22% and, in the UK, the FTSE100 shed 0.43%. Eurozone manufacturing activity also fell in July at the fastest pace since the start of the COVID-19 pandemic, while a report on eurozone inflation showed inflation eased further in July in the region, gaining just 1.9% through the month according to Eikon data.Locally yesterday, the ASX200 rose 0.54% as investors and Australians alike breathed a deep sigh of relief as the RBA announced a hold on rate hikes for a second consecutive month. Every sector closed in the green yesterday but the sectors that benefit from lower interest rates felt the biggest rally, led by the tech sector jumping almost 1.14%, while consumer discretionary and real estate stocks rose 0.77% and 0.43% respectively.The RBA has held the nation’s cash rate at 4.1% for the month ahead which sparked a sharp rally on the local index in afternoon trade. RBA governor Phil Lowe said the pause ‘will provide further time to assess the impact of the increase in interest rates to date and the economic outlook’. In a similar note to last month though, Mr Lowe also warned further interest rate hikes may be required to get inflation to the target range of 2-3%, from the current annual rate of 6%. What to watch today:Ahead of the local trading session here in Australia, the SPI futures are expecting the ASX to open 0.53% lower for the midweek session.On the commodities front this morning, oil is trading down half a percent at US$81.39/barrel, gold is down almost 1% at US$1944/ounce and iron ore is down 3.06% at US$111/tonne.All eyes have been on the Chinese government over the last few weeks amid speculation further stimulus policy will be announced. This came on Monday in the form of China releasing a policy document containing 20 measures to restore and boost consumption including increasing consumer loans to encourage car purchases and building more affordable homes for young people.AU$1.00 is buying 66 US cents, 94.76 Japanese Yen, 51.94 British Pence and NZ$1.08. Trading Ideas:Bell Potter has increased the price target on Gold Road Resources (ASX:GOR) from $1.95 to $2.05 and maintain a buy rating on the gold miner and producer following the release of the company’s second quarter CY23 report including 76,000 ounces of gold produced which topped Bell Potter’s expectations and all-in-sustaining-costs came in at $1620/ounce which fell below Bell Potter’s expected $1885/ounce. The company also upgraded guidance for the calendar year and Gold Road is setting up for a big CY24.And Trading Central has identified a bullish signal on Cedar Woods Properties (ASX:CWP) following the formation of a pattern over a period of 397-days which is roughly the same amount of time the share price may rise from the close of $5.19 to the range of $6.80 to $7.20 according to standard principles of technical analysis.

Wall St ended a strong month with a rise in stocks on Monday ahead of a busy earnings week. The Dow Jones finished the trading day up 0.28%, the S&P 500 rose 0.15% and the tech heavy Nasdaq added 0.21%. The S&P 500 had 5 months of consecutive growth for the first time since August 2021, finishing the month up 3.1%. The Dow made a 13-day advance during July, it’s longest streak of gains going back to 1987.In recent weeks, investors have been growing more optimistic about a soft landing in the US on the back of favorable economic data and resilience in both the job market and on a GDP front. Earnings season has also proven to show better than expected results thus far.Thursday is looking to be a big day of earnings season news with both Amazon and Apple’s set to release results, which could “set the tone” for the remainder of the month.What to watch today:The Australian share market is set to open higher, with the SPI futures suggesting a 0.34% rise at the open this morning.In terms of economic data, the RBA interest rate decision will be announced at 2:30pm today with a consensus of 4.35% or 25 basis points, up from the previous 4.1%.Looking now at commodities,Crude oil has jumped 1.43%, trading at US$81.74 a barrel after a tightening global supply and an increased demand increasing prices. The price of gold is slightly higher, up 0.31% trading at US$1,965.34 an ounce.And iron ore has finished the day 0.87% lower as the idea of Chinese economy stabilization slows.AU$1.00 is buying US$0.68, 95.58 Japanese Yen, 51.63 British Pence and NZ$1.09. Trading Ideas:Bell Potter has slightly decreased the price target on AMA Group (ASX:AMA) from 28 cents per share to 26 cents per share and maintain a buy rating on Australia’s largest accident repair group following the release of the company’s fourth quarter update including underlying cashflows continuing to improve and closing cash up $8.4m to $28.9m as at 30th June. The reason for the 12-month price target decrease is due to increased uncertainty around the company’s capital SMART repricing.And trading central has identified a bullish signal on Infratil Ltd (ASX:IFT), following the formation of a pattern over a period of 15-days which is roughly the same amount of time the share price may rise from the close of $9.36 to the range of $9.70-$9.85 according to the standard principles of technical analysis.

Wall Street closed higher on Friday and notched out gains across the key indices for the week as investors welcomed favourable inflation data in the form of the personal consumption expenditures price index. The data is a key driver of the Fed’s interest rate decisions and gained just 0.2% month-on-month, the same reading as the prior month and well below the anticipated 4.2% rise.Stronger than expected GDP in the US and a better-than-expected earnings season so far in the US has analysts’ believing markets could jump to new highs. On Friday, the Dow Jones rose 0.50%, the S&P500 added 0.99% and the Nasdaq lifted 1.9%.Proctor & Gamble shares rose 3% on Friday after the company posted earnings and revenue that beat analysts’ expectations for the most recent quarter, while Intel jumped 6.6% on Friday as investors welcomed the tech company’s return to profitability.Over in Europe, markets closed mixed as Germany’s economic growth stagnated in the second quarter indicating the economy is stuck between stagflation and a recession. The STOXX600 fell 0.2% on Friday while Germany’s DAX rose 0.4%, the French CAC added 0.15% and, in the UK, the FTSE100 lifted 0.02%.The bank of Japan maintained its negative interest rate on Friday but announced it would allow “greater flexibility” in its targeted range for 10-year Japanese government bond yields which some analysts are taking as a sign of potential policy shift to come. The strict yield curve policy will now allow + and - 0.5% movements and the BoJ will now offer to purchase 10-year JGBs at 1% through fixed rate operations.Locally on Friday the key index fell 0.7% driven by the US sell-off on Thursday, however for the week the ASX200 posted a 1.23% gain. The REIT sector took the biggest hit locally on Friday while consumer discretionary stocks also fell 0.88% following the release of retail sales data for June. The data showed the full impact the RBA interest rate hikes are having on consumer spend with the reading coming in at a decline of 0.8% for the month of June, down from a 0.8% rise in May and below what consensus was expecting of a flat reading on the prior month.What to watch today:Ahead of the local trading session here in Australia, the SPI futures are anticipating the local index to open the first trading session of the new week up 0.26%.On the commodities front this morning, oil is trading 0.11% lower at US$80.49/barrel, gold is up 0.76% at US$1959.85/ounce, iron ore is down 0.87% at US$114.50/tonne.AU$1.00 is buying US$0.67, 93.77 Japanese Yen, 51.63 British Pence and NZ$1.08.Trading Ideas:Bell Potter has increased the 12-month price target on Capricorn Metals (ASX:CMM) to $5.19 from $4.95 and maintain a buy rating on the gold exploration and development company following the release of the company’s June quarter update including Capricorn Metals producing 120,014 ounces of gold at its Karlawinda Gold Project over FY23 at all-in-sustaining-costs of $1208/ounce which fell slightly short of production expectations by Bell Potter analysts’ however the AISC were below BP expectations. The company also boasts some of the lowest costs in the sector and consistently generates strong cash margins.And Trading Central has identified a bearish signal on Regis Resources (ASX:RRL) following the formation of a pattern over a period of 72-days which is roughly the same amount of time the share price may fall from the close of $1.71 to the range of $1.32 to $1.42 according to standard principles of technical analysis.

The release of economic data around the world was the key driver of market movements this week in addition to speculation around China’s support policy announcement and investors responding to earnings season results. The Aussie share market rose 1.94% this week (Mon-Thu) with every sector posting a modest gain led by the Communication Services sector jumping 3.46%, while energy added 3.42% and REIT stocks felt some much-needed relief, lifting 3.32%.In this week's wrap, Grady covers:(0:10) The release of economic data around the world(0:22) Two key reasons big miners stole the show locally(1:31) Updates on Rio Tinto (ASX:RIO) & Fortescue Metals Group (ASX:FMG)(4:33) Best performing stocks in the ASX200(5:39) The most traded stocks & ETFs by Bell Direct clients(6:14) Three economic news items to watch out for

Wall St closed lower on Thursday following the Fed’s interest rate hike of 25-basis points, and US GDP data coming in at 2.4% growth for Q2 which beat economists’ expectations. The strength in US economic growth is in-line with the Fed’s expectations for inflation in the world’s largest economy to remain sticky for a little while to come. The Dow Jones snapped its longest rally since 1987 closing down 0.67%, the S&P500 fell 0.64% and the tech-heavy Nasdaq dropped 0.55% on Thursday.Social media giant Meta jumped 4.4% after reporting a jump in second quarter advertising revenue and topping expectations for quarterly results. Meanwhile, Southwest airlines posted a dip in quarterly profit which sent shares in the carrier down 8.47%.Over in Europe, the European Central Bank hiked the region’s cash rate by 25-basis points overnight to 3.75%, with central bank officials noting that while inflation in the region is falling, the hike is to ensure inflation continues to fall. Stocks in the region closed higher on Thursday on the outlook for rates to pause as early as the September ECB meeting. The STOXX600 rose 1.4%, Germany’s DAX rose 1.7%, the French CAC added 2.05%, and, in the UK, the FTSE100 lifted 0.2%.Locally yesterday, the ASX200 closed 0.73% higher buoyed by a 3.33% rise for the REIT sector as investor appetite for real estate stocks rose on optimism that the Fed has now finished its monetary tightening cycle. The energy and materials sectors were the only two sectors to close Thursday’s session in the red.What to watch today: Ahead of the local trading session here in Australia the SPI futures are anticipating the ASX to open the last trading session of the week down 0.59% on the back of the US sell-off overnight.On the commodities front this morning, oil is trading 1.1% higher at 79.65 US dollars a barrel, gold is trading 1.36% lower at 1945 US dollars an ounce, and iron ore continues its rally, trading 0.86% higher at 117 US dollars and 50 cents a tonne.AU$1.00 is buying US$0.67, 93.54 Japanese Yen, 52.69 British Pence and NZ$1.08. Trading Ideas:Bell Potter has downgraded the rating on Paragon Care (ASX:PGC)  from a buy to a hold and significantly decreased the 12-month price target from 45 cents per share to 26 cents per share following the release of a trading update out of the medical equipment, devices and consumables company. The update outlined the EBITDA growth expectation at around 30% which is a miss of Bell Potter expectations, while the company also announced the closure of the Lovell manufacturing business, which entail a $3m one off charge in FY23 and the company ends FY23 with net debt of $64m. Bell Potter’s analyst sees the growth outlook as opaque and appears dependent on revenue growth in Asia, which is the primary reason for the downgrade to a hold and decreased price target.And Trading Central has identified a bullish signal on Stockland Corp. (ASX:SGP) following the formation of a pattern over a period of 26-days which is roughly the same amount of time the share price may rise from the close of $4.27 to the range of $4.48 to $4.54 according to standard principles of technical analysis.

Wall Street closed mixed on Wednesday with the Dow Jones closing higher for a 13th straight session, adding 0.23%, while the Nasdaq and S&P500 ended the session in the red, down 0.02% and 0.12% respectively. Investors digested the Federal Reserve’s announcement of a 25-basis point rate hike, taking the US cash rate to 5.25%-5.50%, the highest level in more than 22-years. Markets slipped in afternoon trade following the rate hike and comments out of fed chair Jerome Powell that another rate hike may be required in September pending the economic data readings over the coming months.Google parent company, Alphabet, jumped 5.8% on Wednesday as cloud revenue growth boosted the company to report a better-than-expected quarter. Aircraft manufacturer Boeing also lifted 8.7% on Wednesday after also reporting a second-quarter beat on the back of increased commercial aircraft deliveries.Over in Europe, markets closed lower in the region following the announcement of the Fed’s rate hike in the US in addition to the release of corporate earnings results in the region. The STOXX600 fell 0.6%, Germany’s DAX lost 0.5%, the French CAC fell 1.35%, and, in the UK, the FTSE100 shed 0.2%. Deutsche Bank shares rose 1.36% on Wednesday after the big bank reported a net profit of 763 million euros which beat expectations despite being a 27% decline year-on-year.It’s a big week for central bank rate decisions with the Bank of Japan rate decision out on Friday and the European Central Bank decision announced on Thursday European time.In Australia, the ASX rose 0.85% on Wednesday on the release of Australia’s CPI data for Q2 coming in at a quarterly rise of just 0.8% to an annual rate of 6%, which is well below the annual Q1 rate of 7% and below the 6.2% economists’ were expecting. The inflation reading boosted market sentiment as investors see the falling inflation as a sign of rate pauses on the horizon out of the RBA. While 6% in still above the RBA’s target range of 2-3%, the 1% decline in the annual inflation rate over the quarter is a strong sign the RBA’s rate hikes are working to cool inflation.What to watch today:Ahead of the local trading session here in Australia the SPI futures are anticipating the local index to open just 0.01% lower following the Fed’s interest rate decision causing global markets to sell-off overnight.On the commodities front this morning, oil is trading 1% lower at US$78.84/barrel, gold is up 0.36% at US$1971.61/ounce, and iron ore is up 0.87% at US$116.50/tonne.AU$1.00 is buying US$0.68, 94.78 Japanese Yen, 52.69 British pence and NZ$1.09.Trading Ideas:Bell Potter has increased the 12-month price target on Catapult Group (ASX:CAT) from $1.20 to $1.35 per share and maintain a buy rating on the leading global provider of elite athlete wearable tracking technology and software provider, following the release of the company’s first quarter update. Over the quarter, Catapult reported revenue growth over 20%, annual contract value rose over 20% year-on-year on a constant currency basis, and the company hopes to achieve Free Cash Flow positivity in FY24.And Bell Potter has slightly decreased the 12-month price target on Develop Global (ASX:DVP) from $3.90 to $3.80 and maintain a buy rating on the hybrid model mining company following an update including Develop withdrawing from the Kathleen Valley underground mining contract tender process due to expanded scope of the contract, whilst also noting the forthcoming restart of the Woodlawn operations coinciding with peak revenue generation from the Bellevue mining contract, underpinning a significant ramp up in earnings and future cash flow generation.

US equities closed higher on Tuesday with the Dow Jones posting a positive close for a 12th straight session, the longest winning streak in 6-years. The tech-heavy Nasdaq and S&P500 also closed higher as investors respond to the latest earnings results and await the key interest rate decision out of the Federal Reserve tomorrow.In Europe, markets also mostly rallied on Tuesday as investors in the region also responded to earnings results from big names including Unilever which beat analysts’ expectations to report a 7.9% rise in underlying Q2 sales. The European Central Bank also meets on Thursday where it is widely expected that a 25-basis point rate hike will be announced. The STOXX600 rose 0.47% on Tuesday, buoyed by mining stocks rising on the back of new Chinese stimulus measures, Germany’s DAX added 0.13%, the French CAC fell 0.16% and, in the UK, the FTSE100 added 0.17%.China’s leaders pledged on Monday to step up the government’s policy support for the extremely weak post-COVID recovery in the region, with a focus on boosting domestic demand and aiding recovery in the building sector. Looking at China’s Q2 growth rate data, the world’s second largest economy grew only 0.8% QoQ vs 2.2% growth in Q1, in a sign economic recovery is stalling. The local market rallied almost half a percent yesterday boosted by the iron ore miners jumping on the back of speculation that China will introduce further stimulus policy to reignite the nation’s recovery post-pandemic, causing a rise in the price of iron ore today. BHP added 3.84% yesterday, Fortescue rallied 4.55% and Rio Tinto jumped 3.4%.Technology stocks weighed on the market yesterday with the sector closing down 0.25% on the back of the Nasdaq-100’s special rebalancing which is aimed at reducing the concentration of heavyweight companies that account for nearly half of the index’s weight. Stocks involved in the rebalancing include Microsoft, Apple and Tesla which account for 43.8% of the index weight coming down to 38.5% as a result of the rebalancing.What to watch today:Ahead of local trading session here is Australia, the SPI futures are anticipating the ASX to open the midweek trading session up 0.26%.Taking a look at commodities, the price of wheat hit a 5-month high yesterday after Russia launched a drone attack at a port in the Ukraine, destroying a grain hangar storing wheat grain. Oil is up 0.88% at US$79.43/barrel, gold is up almost half a percent at US$1963/ounce, and iron ore is down 0.43% at US$115.50/tonne.Locally today, Australia’s inflation data for Q2 is out just before midday which may cause some market movements pending on how the data reads. If the reading comes in, in-line with consensus expectations of a decline in the annual inflation rate to 6.2%, we could see the market rally in anticipation of rate pauses to come, however if inflation remains around 7% or higher than expected.AU$1.00 is buying US$0.68, 95.68 Japanese Yen, 52.36 British Pence and NZ1.09.Trading Ideas:Bell Potter has increased the price target on Mader Group (ASX:MAD) from $5.10 to $6.10 and maintain a hold rating on the leading provider of specialised labour services, following the release of the company’s Q4 results including a 12th consecutive quarter of revenue growth, underpinned by growth across Australian operations and reflecting robust demand for Mader’s core mechanical services and new vertical service offerings, as well as North American penetration and growth in Canada.And Trading Central has identified a bullish signal on BHP Group (ASX:BHP) following the formation of a pattern over a period of 59-days which is roughly the same amount of time the share price may rise from the close of $45.82 to the range of $50-51 according to standard principles of technical analysis.

US equities had a positive run overnight, with all three major benchmarks closing the session in the green, as a busy week of earnings season begins and as investors await the Fed’s next policy decision.The Dow Jones pisted its 11th straight day of gains, advancing 0.52%. The S&P500 also gained as energy stocks led the index, with the sector up almost % after gas and oil futures approached a three-month high. And the tech-heavy Nasdaq added 0.2%, as investors await the earnings report from some big tech names. Companies set to report this week include Alphabet, Microsoft, and Meta.In Europe, Germany’s DAX, the FTSE 100 and the STOXX 600 all closed in the green, while France’s CAC was the only benchmarks to close lower. It’s a busy week ahead for central bank meetings in Europe, as well as corporate earnings and the inconclusive results of the Spanish election, which were held on Sunday.What to watch today:Following Wall Street overnight, the SPI futures are suggesting that our local market is set to rise 0.56% at the open this morning.There is no local economic data out today, markets are waiting for the inflation rate announcement out tomorrow.Stocks to watch today include gold miner Newcrest Mining (ASX:NCM), which is set to release its quarterly report today. And Blackmores (ASX:BKL) which is set to go ex-dividend today. So remember that this often sees the share price fall, as investors take their profits.Looking now at commodities,Crude oil is jumped 2.4% and is current trading at around US$78.91 per barrel. The price is at a three-month high amid an outlook for tighter global supply, as well as an increase in Chinese demand. So keep watch of energy producers today including Woodside Energy (ASX:WDS), Santos (ASX:STO) or Ampol (ASX:ALD).The price of gold is slightly lower as investors await the rate decisions from central banks this week.And iron ore is hovering around a three-month high as investors assess the likelihood that the Chinese government will provide stimulus to boost resource demand and the country’s economic outlook.Trading Ideas:Bell Potter maintains its BUY rating on Life360 (ASX:360) a market leading family app with driving safety and location sharing features. 360 is scheduled to report its second quarter results mid-August, and Bell Potter are expecting solid results. However, there are areas they’re not expecting strong results, with factors in consideration such as price rises for Android users in the US. They have increased their price target from $9.00 to $9.25, and at 360’s current share price of $7.82, this implies 18.3% share price growth in a year.And Trading Central have identified a bullish of signal on Whitehaven Coal (ASX:WHC), indicating that the stock price may rise from the close of $7.23 to the range of $8.50 to $8.80 over 38 days according to the standard principles of technical analysis.

It was a mixed session in the US on Friday as investors digested the latest slew of earnings results and the Dow Jones extended its rally to 10 sessions, the longest for the key index since 2017. American Express shares slipped around 4% on Friday after the company reported second quarter revenue of US$15.05bn which fell short of analysts’ expectations at US$15.48bn. Corporate earnings so far have been mixed with 75% of S&P500 companies that have reported, exceeding analysts expectations according to FactSet. For the week, the Dow Jones rose 2.08%, the S&P500 added 0.7% and the tech-heavy Nasdaq fell 0.57% over the 5 trading days. Over in Europe on Friday, a results-driven rally fuelled markets to close higher in the region as investors responded to key corporate earnings results released. UK retail sales data for June was released on Friday coming in at a rise of 0.7% month-on-month, in a sign UK consumer spend remains resilient despite rising inflation and interest rates. Swiss miner Glencore released results on Friday including profits around US$4bn as the commodity market continues to normalise after a particularly strong 2022. Europe’s earnings season ramps up into full swing this week with key Pharmaceuticals, banks and automotive companies releasing results. On Friday the STOXX600 rose 0.3%, Germany’s DAX fell 0.17%, the French CAC rose 0.65%, and, in the UK, the FTSE100 rose 0.23%.Locally on Friday, the ASX200 closed the last trading session of the week down 0.15%, weighed down by a 2.73% sell-off in the technology sector while energy stocks offset some of the heavy losses, closing up 1.3% at the session’s end. The local tech sell-off followed a slide in the Nasdaq on Wall St on the back of a disappointing revenue forecast out of Netflix and Tesla reporting a drop in tis gross margins.What to watch today:Ahead of the local trading session here in Australia, the SPI futures are anticipating the ASX to open the new trading week up 0.4%.Looking at commodities this morning, oil is trading almost half a percent lower at US$76.75/barrel, coal is up 0.76% at US$133/tonne, gold is up 0.04% at US$1962.57/ounce and iron ore is down 0.85% at US$116/tonne. AU$1.00 is buying US$0.67, 95.42 Japanese Yen, 52.36 British Pence and NZ$1.09.This week we may see some market movements following the release of key economic data including Australia’s annual inflation rate data for Q2 out on Wednesday with consensus expecting a fall from 7% in Q1 to 6.2% in Q2. Overseas, the US interest rate decision is out on Thursday with the expectation of the Fed’s to announce a 25-basis point rate hike, which will take the cash rate in the US to 5.5%. Trading Ideas:Bell Potter has decreased the price target on Coronado Global Resources (ASX:CRN) from $2.15/share to $2/share and maintain a buy rating on the coal miner and producer following the release of the June trading update including quarterly saleable coal production of 4.5 million tonnes and sales volume of 4 million tonnes. This was an improvement on the prior weather impacted quarter however revenue fell 5% quarter-on-quarter driven by lower index and realised prices. Net cash for the company also fell from US$256m to US$192m over the quarter, and Bell Potter expects a lift in second half production and CAPEX which are the factors contributing to the price target decline to $2/share.And Trading Central has identified a bullish signal on GrainCorp (ASX:GNC) following the formation of a pattern over a period of 180-days which is roughly the same amount of time the share price may rise from the close of $8.12 to the range of $9.60 to $10 according to standard principles of technical analysis. 

Incorporating environmental, social and governance (ESG) factors into investment decision-making has been a growing interest for investors and companies. An ESG criteria evaluates a company’s sustainability and ethical impact and has had a notable impact on the share market by navigating investor preferences and capital allocation.In this week’s wrap, Grady covers:(0:10) The importance of ESG goals for corporations(0:51) Companies kicking goals on the ESG front(2:21) The beginning of earnings season(3:48) Best performing stocks in the ASX200(5:04) The most traded stocks & ETFs by Bell Direct clients(5:38) Three economic news items to watch out for

US equities closed mixed in New York overnight. The Dow Jones gained more than 100 points or 0.47% to notch its first 9-day rally since 2017. A rally came after better-than-expected results from Johnson and Johnson. However, the broader market suffered after post-earnings declines in trader favourites Netflix and Tesla. The S&P500 slipped 0.7%, while the Nasdaq tumbled more than 2%. What to watch today:The SPI futures are suggesting that our local market will rise 0.08% at the open this morning. In commodities, Crude oil is up 0.6%, approaching US$76 per barrel, after facing heightened volatility in recent sessions, as investors continued to weigh outlook for the oil market for the rest of this year. Gold is hovering at its strongest levels in two months as easing US inflation raised hopes that the Federal Reserve is close to the end of its current monetary policy tightening cycle. So keep watch of ASX gold miners today. And iron ore is currently trading flat, hovering close to a three-month high at US$116.50 per tonne, as markets continued to weigh on Chinese resource demand. So also keep watch of iron ore miners, including Grange Resources (ASX:GRR), Mineral Resources (ASX:MIN) and Fortescue Metals (ASX:FMG). Companies to watch today include Atlas Arteria Group (ASX:ALX) and Coronado Global Resources (ASX:CRN), both set to release quarterly reports today. Trading Ideas:Bell Potter maintains its Speculative Buy rating on Pentanet (ASX:5GG). The telecommunications carrier and cloud gaming provider released a Q4 update with FY23 revenue and gross profit growth in line with Bell Potters expectations. They have upgraded their valuation to $0.14 on improving cost performance. At 5GG’s current share price of $0.09, this implies 42.9% share price growth in a year. And Bell Potter also maintains a Buy rating on Select Harvest (ASX:SHV) and maintain their $5.50 price target, which implies 31% share price growth in a year. 

It was a positive run in New York overnight, with all three major benchmarks closing in the green, as the corporate earnings season continued. The Dow Jones registered its eighth straight day of gains, its longest winning streak since September 2019. Goldman Sachs reported in the US, announcing a miss on profit and a beat on revenue, while Netflix, Tesla, IBM, and United Airlines reported after the close. Netflix shares tumbled after reporting quarterly results, saying it was too early to assess the effects of its crackdown on its password sharing and revenue from the ad-supported offering.  Tesla shares fluctuated near the flatline after reporting record-high quarterly revenue, while United Airlines jumped after revenue topped analysts’ expectations. What to watch today:Our local market is set to open higher, with the SPI futures suggesting a slight rise of 0.03%. Ahead of reporting season, that kicks off every soon, some companies are releasing their quarterly results, before their full year results are announced in August. Keep watch of the following quarterly reports out today, including BHP Group (ASX:BHP), Alumina (ASX:AWC), Evolution Mining (ASX:EVN) and Santos (ASX:STO). Also today, companies announcing their full year results are Zip Co (ASX:ZIP) and Telix Pharmaceuticals (ASX:TLX). And Bell Potter have updated their report on TLX – so more on that a little later. In economic news, the unemployment rate for June will be announced today at 11:30am AEST, expected to remain unchanged a 3.6%. And looking at commodities now, Crude oil is trading at around US$75 per barrel, as investors weigh demand concerns, China’s announcement to support economic growth, as well as signs of tightening global oil supplies. Gold is lower, hovering near its strongest levels in two months, amid weakness in the US dollar. While iron ore is up 0.9%, trading at US$116.50 per barrel, hovering close to the three-month high. Iron ore markets continue to weigh on Chinese resource demand as the likelihood of government stimulus for the construction industry. Trading Ideas:Bell Potter maintains a Buy rating on Telix Pharmaceuticals (ASX:TLX). The group specialises in the development and commercialisation of radiopharmaceuticals for imaging and treatment of certain cancers. They reported Q2 cash flows with revenue growth of 20.6% compared to the previous quarter, in line with Bell Potter’s expectations. FY23 EBITDA is lowered by approximately $14 million (down 13%), as Bell Potter reduce their gross margin assumption to 64%. The price target remains unchanged at $14.00, and at TLX’s current share price of $12.16, this implies 15.1% share price growth in a year. And Trading Central have identified a bullish signal in oOh Media (ASX:OML), indicating that the stock price may rise from the close of $1.33 to the range of $1.45 to $1.49 over 38 days, according to the standard principles of technical analysis. 

US equities rallied on Tuesday with the Dow Jones closing higher for a 7th straight session, on the back of stronger-than-expected earnings results. Bank of America shares rose 4.2% after it reported earnings above expectations for the second quarter thanks to higher interest rates, while Morgan Stanley added 6.2% after a beat on both revenue and adjusted earnings per share. The Dow Jones closed up 1.06%, the S&P500 added 0.71% and the tech-heavy Nasdaq ended Tuesday’s session up 0.76%.In Europe overnight, markets rallied as investors in the region assess earnings results out of both local and US corporations. The local share market fell 0.2% yesterday as investor sentiment was dampened by the release of the RBA’s latest meeting minutes whereby the prospect of more rate rises was outlined, if inflation in Australia doesn’t fall to the target range. This naturally caused investors to sell out of REIT stocks yesterday as rising interest rates devalues the properties owned by REIT companies and raises the costs associated with running the REIT assets.Retailers took a big hit again yesterday as investor fears of rate hikes hit the consumer discretionary sector, which traditionally feels the full brunt of interest rate hikes in the form of higher costs and lowered demand. The big four banks all rallied yesterday though which offset some of the heavy losses for consumer discretionary and mining stocks.Shares in manufacturing company Ansell tanked over 14% on Tuesday as investors responded to the company’s trading update outlining guidance for both FY23 and FY24 and the outlook for higher costs in FY24. The company’s guidance outlined the expectation for Industrial GBU sales for FY23 to have fallen over $12.5m from FY22, while organic growth was achieved in both Mechanical and Chemical divisions. Healthcare GBU sales were also down over $200m from FY22.China’s GDP for Q2 out on Monday came in at growth of 6.3% for the quarter which fell short of economists’ expectations and provided a further sign of the weak post-pandemic recovery out of the world’s second largest economy.What to watch today: Ahead of the local trading session here in Australia the SPI futures are anticipating the ASX to open 0.54% higher following the global results-driven rally overnight.On the commodities front this morning, oil has rebounded from lows earlier in the week to trade 2.06% higher at US$75.68/barrel, gold is up 1.13% at US$1976.76/ounce and iron ore is down 1.28% at US$115.50/tonne.On the economic calendar today, the annual UK’s inflation rate data for June is out this afternoon with the market expecting a slight decrease to 8.2% from 8.7% in May.AU$1.00 is buying US$0.68, 94.58 Japanese Yen, 52.12 British Pence and NZ$1.08. Trading Ideas:Bell Potter has increased the price target on Cyclopharm (ASX:CYC) and maintain a buy rating on the healthcare company following the release of a trading update outlining revenues of $15.3m for the first half of FY23 comprising around $7.5m in Technegas revenues and the remaining $7.8m from 3rd party distribution sales. Cyclopharm is also on watch in the lead up to the FDA inspection of the Kingsgrove manufacturing facility ahead of the FDA approval decision expected on 29th September.And Trading Central has identified a bearish signal on Dicker Data (ASX:DDR) following the formation of a pattern over a period of 90-days which is roughly the same amount of time the share price may fall from the close of $7.96 to the range of $6.60 to $6.90 according to standard principles of technical analysis.

US equities closed higher on Monday as investor sentiment remains boosted by favourable inflation data released last week alongside some strong second quarter results released at the start of earnings season so far.The Dow Jones closed higher for a 6th straight session, adding 0.22% at the closing bell on Monday, while the S&P500 rose 0.39% and the tech-heavy Nasdaq added 0.93% boosted by Apple and Tesla rising 1.7% and 3.2% respectively.While Wall St is expecting a gloomy reporting season, the risk of recession is easing as predicted by Goldman Sachs and a number of economists given recent data out in the US reinforced confidence that the Fed’s aggressive rate hikes will be able to cool inflation without plunging the US into a recession.Over in Europe, markets closed lower on Monday following the release of China’s GDP data coming in at growth of 6.3% for Q2 which fell short of economists’ expectations and provides a further sign of the weak post-pandemic recovery out of the world’s second largest economy. Earnings season in Europe also ramps up this week with Novartis and Ocado releasing results this week. The STOXX600 fell 0.6% on Monday while Germany’s DAX fell 0.23%, the French CAC lost 1.12% and, in the UK, the FTSE100 fell 0.38%.Locally yesterday the ASX started the week in negative territory, down 0.06% at the closing bell, weighed down by a sharp selloff in energy stocks, which was slightly offset by a 0.88% rise for the technology sector. Energy stocks were likely sold off amid China’s GDP data coming in weaker than expected which contributed to a 1.75% decline in the price of oil to trade at US$74.10/barrel.What to watch today:Ahead of the local trading session here in Australia, the SPI futures are anticipating the ASX to open Tuesday’s session down 0.28%.Oil remains at US$74.10/barrel this morning, coal is up 2.85% at US$131.65/tonne, gold is up just 0.01% at US$1955/ounce, and iron ore is up 4% at US$117/tonne.On the economic calendar today, we may see the local markets move following the release of the RBA’s meeting minutes this morning pending how investors interpret the outlook for coming months of rate decisions.US retail sales data for June is also out this evening, with consensus expecting a 0.5% rise for the month which would provide another sign that the US economy remains resilient despite rising interest rates.AU$1.00 is buying US$0.68, 94.56 Japanese Yen, 52.10 British Pence and NZ$1.08. Trading Ideas:Bell Potter has increased the price target on Neuren (ASX:NEU) from $16.50 to $17 and maintain a buy rating on the pharmaceuticals company following the release of Neuren’s US partner, Acadia Pharmaceuticals Q2 sales of Daybue, which is Neuren’s Trofinetide drug in the US. The report came in at sales of US$21m-$23m and provided guidance for Q3 of US$45m - $55m – a significant beat of analysts’ expectations. The increase in price target is also on the back of Acadia Pharmaceuticals strengthening its licencing agreement with Neuren to a global scale, not just in the US moving forward.And Bell Potter has increased the price target on DroneShield (ASX:DRO) from 40 cps to 45 cps and maintain a buy rating on the defence technology company following the announcement out of DroneShield yesterday that it has won a record US$33m contract with the US government for DroneShield equipment and multi-year services subscriptions.

Wall Street closed mixed on Friday as earnings season kicked off in the US with a few big names posting better-than-expected results. This reporting period is particularly important in the eye of investors as to see how well US companies have performed during the high inflation, high interest rate environment. The Dow Jones rose 0.33%, while the S&P500 fell 0.1% and the tech-heavy Nasdaq lost 0.18% on Friday. For the week though, the three key indices posted gains with the Dow Jones adding 2.3%, the S&P rising 2.4% and the Nasdaq adding 3.3%.UnitedHealth shares jumped more than 7% on Friday after the insurance company reported better-than-expected adjusted earnings and revenue for the first half. JPMorgan Chase also rose 0.6% after the big bank’s second quarter earnings also topped expectations.Over in Europe, markets ended a 5-session winning streak on Friday with most closing lower, weighed down by sell-offs in oil and gas, and mining stocks. Investors had last week been assessed data out of the UK indicating wages grew by 7.3% in the three months to May, which is a significant concern for the Bank of England as it tackles the worst inflation among the group of seven nations including the US, Canada and France among others. The STOXX600 lost 0.1% on Friday, Germany’s DAX fell 0.22%, the French CAC added 0.06%, and in the UK, the FTSE100 fell 0.08%.Locally on Friday, the key index rose 0.78% driven by a rally for technology stocks with the sector adding 1.68%, while communication services and materials stocks also had a strong session with each adding 1.66% and 1.35% respectively.Telix Pharmaceuticals (ASX:TLX) rose 5.33% on Friday despite no price sensitive news out of the company on Friday, while Netwealth Group (ASX:NWL) fell 5.4% likely due to investors taking profits following the release of the company’s quarterly update including a record level of funds under administration.What to watch today: Ahead of the local trading session here in Australia, the SPI futures are expecting the ASX to open 0.03% lower.On the commodities front this morning oil is trading 0.67% lower at US$74.91/barrel, uranium is down 0.45% at US$55.40/pound, gold is down 0.3% at US$1954/ounce and iron ore is up 4% at US$117/tonne.AU$1.00 is buying US$0.68, 94.88 Japanese Yen, 52.46 British Pence, NZ$1.07. Trading Ideas: Bell Potter has decreased the 12-month price target on RMA Global (ASX:RMY) from 21 cps to 18 cps and maintain a speculative buy rating on the emerging digital marketing business for real estate agents, following the release of the company’s Q4 update for FY23 including US claimed profiles growing to 259K, US reviews increasing to 722K, and subscription revenue of $3.6m. The reason for the decrease in price target is due to the Bell Potter analyst expecting US subscriber volumes to moderate due to the ongoing heightened interest rate environment.And Trading Central has identified a bullish signal on Woodside Energy (ASX:WDS) following the formation of a pattern over a period of 272 days which is roughly the same amount of time the share price may rise from the close of $36.28 to the range of $45.00 to $47.00 according to standard principles of technical analysis.

The Australian share market staged an upswing this week, advancing 2.91% (Mon – Thurs). The ASX200 leader board was painted green, with information technology posting the strongest gains, followed by real estate and materials. In this week's wrap, Grady covers: (0:58) The REITs that are thriving vs. those that are struggling(3:38) One REIT that is trading at a discount in 2023(4.46) Best performing stocks in the ASX200(5:38) The most traded stocks & ETFs by Bell Direct clients(6:15) Three economic news items to watch out forRead transcript article here.

European and US markets rallied overnight after US PPI data came in lighter than expected. This built on optimism after US CPI on Wednesday was also less than anticipated. The data supports signs that inflation is cooling, therefore boosted economic sentiment, and raising hopes of a less aggressive path ahead. However, markets are still expecting a 25-basis point rise by the Fed this month. It was the fourth consecutive day of gains for the major averages, with the Dow Jones added 47 points or 0.14%. The S&P500 closed 0.85% higher, while the tech-heavy Nasdaq advanced 1.58%. European markets also closed higher after the US inflation reading, as well as a drop in UK gross domestic product. UK GDP pulled back slightly, amid the focus on ongoing inflation, particularly after strong wage growth data was announced this week. What to watch today:Our local market is set for a positive start, following the US overnight, with the SPI futures suggesting a 0.61% rise at the open this morning. Looking at commodities, Crude oil is trading higher as OPEC maintain a positive outlook on world oil demand, raising its growth forecast for 2023 and predicting a slight slowdown in 2024. This is driven by strong fuel consumption in China and India. Gold is slightly in the green, holding at its highest level in one month, as renewed evidence of softer inflation has boosted sentiment. So watch gold miners today. And iron ore is strong, trading 1.83% higher at US$111.50 per tonne, sharply rebounding from a one-month low, amid hopes of strong demand. China’s hot metal production averaged 2.5 million tonnes per day in June, which was the highest level since October 2020, therefore suggesting that steel mills in are returning to full capacity in China, the world’s top iron ore consumer. So keep watch of iron ore stocks today including Fortescue Metals (ASX:FMG), Rio Tinto (ASX:RIO) or BHP (ASX:BHP). Trading Ideas:Bell Potter maintains a Speculative Buy rating on Pharmaxis (ASX:PXS) and value the drug developer at $0.10. At PXS’s current share price of $0.05, this implies 96.1% share price growth in a year. And Trading Central have identified a bullish signal in Northern Star Resources (ASX:NST) indicating that the stock price may rise from the close of $13.14 to the range of $13.55 to $13.70 over 15 days, according to the standard principles of technical analysis. 

US equities hit a 15-month high on Wednesday after CPI data came in lower than expected, which boosted investor sentiment. The annual inflation rate in the US slowed to 3% in June, the lowest level since March 2021, down from 4% in May and also below the consensus expectation of 3.1% in a sign the Federal Reserve’s hawkish stance on hiking rates is having a significant impact on cooling inflation. The Dow Jones rose 0.25% on Wednesday, the S&P500 added 0.74%, and the tech-heavy Nasdaq did most of the heavy lifting with the index rising 1.15% at the closing bell.Despite inflation falling, the market is still expecting the Fed to announce another 25-basis point rate hike at the next FOMC meeting as wages inflation, services inflation and housing inflation, despite moderating, are still stubbornly high.Over in Europe, markets in the region also had a strong rally on Wednesday as investor sentiment was boosted by inflation cooling in the US. The STOXX600 rose 1.5%, Germany’s DAX added 1.47%, the French CAC rose 1.57%, and in the UK, the FTSE100 surged 1.83%.What to watch today:Ahead of the local trading session the SPI futures are anticipating the ASX to open Thursday’s session up 0.87% following the inflation-data driven rally in the US overnight.Locally yesterday, the ASX lifted 0.38% buoyed by a near 2% rise for the energy sector as oil is trading 1.36% higher and up 5.65% over the last week following speculation that China may move to introduce further policy to stimulate its economy through the sluggish post-pandemic recovery.Gold miners also extended their recent rally into the midweek session on strength in the price of the commodity while the worst performing sectors yesterday were information technology and health care.On the commodities front this morning, oil is trading 1.34% higher at US$75.83/barrel, gold is up 1.32% at US$1957.57/ounce and iron ore is up 1.39% at US$109.50/tonne.AU$1.00 is buying US$0.68 cents, 93.96 Japanese Yen, 51.97 British Pence and NZ1.08.Trading Ideas:Bell Potter has initiated coverage of Smartpay Holdings (ASX:SMP) with a buy rating and a 12-month price target of $2.16/share amid terminal growth outlook from Bell Potter’s analyst. Smartpay is a full-service provider of end-to-end payment solutions and the Bell Potter analyst sees SMP has considerable uplift to gross profit and margins from implies revenue per unit as the company expands its Australian customer base.And Trading Central has identified a bearish signal on NIB Holdings (ASX:NHF) following the formation of a pattern over a period of 11-days which is roughly the same amount of time the share price may fall from the close of $8.43 to $7.80 to $7.90 according to standard principles of technical analysis.

Wall Street rallied on Tuesday as all eyes focus on the release of US inflation data out at 10:30pm tonight Australian Eastern Standard time while investors also welcomed comments from Federal Reserve officials earlier today suggesting US interest rates may be nearing their peak.Salesforce shares rose 0.6% after the company said it would increase prices across the board in August, while American video game company Activision Blizzard jumped over 10% after a Federal Judge denied the Federal Trade Commission’s request for a preliminary injunction to stop Microsoft acquiring the video game maker, meaning the two companies are closer to completing their acquisition deal.In Europe, markets closed higher in the region led by a boost for mining and construction stocks. The STOXX600 finished Tuesday’s session up 0.7%, Germany’s DAX rose 0.75%, the French CAC added 1.07% and, in the UK, the FTSE100 rose 0.12%.On the back of weak inflation data being released earlier this week, China signalled more economic support measures are coming through the adoption of more property supportive policies in addition to measures aimed at boosting business confidence, as per reports out of Bloomberg.Locally, gold and lithium miners advanced yesterday with lithium miners boosted by Patriot Battery Metals (ASX:PMT) soaring over 7% on speculation of the company being a takeover target, while gold rallied on strength in the price of the precious commodity.The ASX rose 1.5% yesterday with every sector of the ASX closing in positive territory, led by the 2023 favourite sector, information technology, surging 2.41%. The local rally yesterday was spurred on by strength in the US on Monday in addition to the release of positive economic data which boosted investor sentiment.Westpac consumer confidence data and NAB business confidence data were released yesterday with both coming in on the upside. Westpac consumer confidence rose 2.7% from 0.2% in June in a sign consumers are optimistic about the month ahead, possibly on the back of the rate pause out of the RBA. While, NAB business confidence data for June hit zero, up from -4 in May, indicating business confidence is also rising following months of tougher business conditions.What to watch today:Ahead of the local trading session the SPI futures are anticipating the local index to open the midweek session half a percent higher following the strength in both European and the US markets overnight.On the commodities front this morning, oil is trading 2.38% higher at US$74.73/barrel, gold is up 0.33% at US$1931.34/ounce and iron ore is down 4% at US$108/tonne in the wake of weak economic data out of China earlier in the week.AU$1.00 is buying US$0.67, 93.73 Japanese Yen, 52.02 British Pence and NZ$1.08.Trading Ideas:Bell Potter has increased the price target on Janus Henderson (ASX:JHG) from $41.29 to $42.64 and maintain a hold rating on the global asset management company ahead of the release of the company’s H1 results on August 1st with Bell Potter expecting to see an uptick in funds under management by around 2.8% to US$319.4bn and expect Janus Henderson to produce Adjusted operating income of US$118.9m up from US$105.6m in Q1. These expected upticks are on the back of stronger US and European markets in Q2 while government bond returns were slightly negative.And Trading Central has identified a bullish signal on Ramelius Resources (ASX:RMS) following the formation of a pattern over a period of 17-days which is roughly the same amount of time the share price may rise from the close of $1.30 to the range of $1.51 to $1.57 according to standard principles of technical analysis.

It was a positive session in New York overnight, as all three major averages snapped a three-day decline. Shares were broadly higher with the Dow Jones closing 0.6% higher, while the S&P500 and the Nasdaq gained 0.2%. Industrials led seven of the eleven S&P500 industry sectors higher as the closing bell neared, while communication services led the decliners. And markets are waiting for US inflation data out tomorrow night is expected to show a modest decline of an annual rate of 4% in May to 3.1%. What to watch today: The Australian market is set to open higher this morning, with the SPI futures suggesting a 0.62% rise at the open. In economic data, today Westpac will release its data on consumer confidence and NAB will release its data on business confidence. Both are expected to announce an increase in confidence month-on-month. Looking at commodities, Crude oil has fallen, trading at around US$73 per barrel as concerns about a global economic slowdown that could reduce demand for oil outweighed the prospects of tighter global supplies from Saudi Arabia and Russia. Gold is trading flat, as investors weigh the prospects of further monetary tightening against concerns about a global economic slowdown, while poor performance of China’s consumer and producer prices reduced confidence of a recovery and increased deflation risks. And iron ore continued to drop towards US$100 per tonne, so keep watch of iron ore stocks today including Fortescue Metals (ASX:FMG), Rio Tinto (ASX:RIO) or Mineral Resources (ASX:MIN). Trading Ideas:Bell Potter maintains a Buy rating on Propel Funeral Partners (ASX:PFP) after the company announced two acquisitions in New Zealand at AU$38 million. They have decreased their price target by approximately 5% to $5.60 per share, and at PFP’s current share price of $4.11 this implies 36% share price growth in a year. Bell Potter also maintains their Buy rating on Vitura Health (ASX:VIT) and they believe the company has solidified its position as market leader in medicinal cannabis distribution. Their price target remains unchanged at $0.90, and at VIT’s current share price of $0.54 this implies 66.7% share price growth in a year. 

Investor fears of further rate hikes in the US sparked a sell-off in US equities on Friday despite favourable jobs data being released. The US Labour Department’s June jobs report revealed payrolls increased less than expected by 209,000 for the month following an addition of 306,000 in May, in a sign the tight labour market in the US is continuing to ease. The US unemployment rate came in at 3.6%, down from 3.7% in May. Despite the favourable jobs data, the three key indices posted losses for the week as investors digested the latest FOMC meeting minutes with concerns the Fed will begin raising rates again as soon as the end of this month. The Dow Jones fell 1.16% over the week, while the S&P500 lost almost 2% and the tech-heavy Nasdaq declined 0.92% from Monday to Friday.Over in Europe, markets edged slightly higher on Friday following the release of the favourable US jobs report. Germany’s DAX rose almost half a percent, the French CAC added 0.42%, while in the UK, the FTSE100 fell 0.32% weighed down by OSB Group as the British financial services provider tanked 28% after the company said it expects net income to drop by up to 180 million pounds or $230m as mortgage customers move away from high-rate products.Locally on Friday the ASX tumbled 1.69% on Friday as every sector closed the last trading session of the week in negative territory, with REIT stocks taking the biggest hit as the sector closed 2.6% lower. The ASX sell-off on Friday was sparked by investor concerns of a robust jobs report out of the US, which was released after our local closing bell and came in quite the opposite to what local investors had been expecting.What to watch today: With the favourable jobs report in mind, the SPI futures are anticipating the local index to open Monday’s session on a much brighter note, up 0.36% to start the new trading week on a positive note.On the commodities front this morning, oil is trading 0.32% lower this morning at US$73.57/barrel, uranium is down almost 1% at US$55.65/pound, gold is up 0.15% at 1927.93/ounce, and iron ore is down 0.88% at US$112.50/tonne.Taking a look on the economic calendar, China’s highly anticipated annual inflation rate data for June is out today with consensus expecting a rise to 0.2% from 0.1% in May, as the economy continues its struggle to rebound on the growth front post the end of lengthy pandemic restrictions easing.AU$1.00 is buying US$0.67, 95.18 Japanese Yen, 51.94 British Pence and NZ$1.08. Shares trading ex-dividend today include Collins Foods (ASX:CKF), Red Hill Minerals (ASX:RHI), and Turners Automotive Group (ASX:TRA). If you’ve been thinking about these stocks it might be worth considering buying in today as stocks trading ex-dividend generally trade lower on the ex-dividend date.Trading Ideas:Bell Potter has decreased the price target on Clarity Pharmaceuticals (ASX:CU6) from $1.40 to $1.30 and maintain a speculative buy rating on the healthcare equipment and services company following the company announcing that it will commence a phase three trial of its diagnostic agent in prostate cancer, targeting high risk prostate cancer patients prior to prostatectomy. There is currently no marketed MTR products for this indication hence according to the Bell Potter analyst, if the trial meets the primary endpoints of sensitivity and specificity, the product will become highly differentiated from its peers.And Trading Central has identified a bearish signal on Wesfarmers (ASX:WES) following the formation of a pattern over a period of 110 days which is roughly the same amount of time the share price may fall from the close of $47.09 to the range of $41.50 to $42.50 according to standard principles of technical analysis.

The Aussie share market fell 0.55% this week (Mon-Thu) weighed down by the healthcare sector losing 1.7%, information technology stocks falling 1.66% and the materials sector falling 0.82%. Market volatility was driven this week by outlook for future rate hikes out of the RBA and Federal Reserve alongside recessionary concerns amid signs of slowing economic growth.In this week's wrap, Grady covers: (0:11) The IPOs landscape(0:54) The most successful & worst performing IPO in 2023(2:15) Why IPOs are a no-go in 2023(3:51) Key things to consider when investing in IPOs(4:45) Best performing stocks in the ASX200(5:46) The most traded stocks & ETFs by Bell Direct clients(6:21) Three economic news items to watch out forRead the article transcript here.

On Wall Street overnight, US equities closed in the red, with all three major benchmarks declining. This was after better-than-expected jobs data out in the US, raised concerns around the state of the economy and the path of interest rates. The S&P500 dropped 0.8% with all 11 industry sectors lower. Energy was down the most, while information technology was the best performer. The Dow Jones dropped more than 1%, marking the worst daily performance for the Dow and the S&P 500 since May. And the Nasdaq closed 0.8% lower. And the 2-year US Treasury yield hit a 16-year high. European markets also sharply fell. The STOXX 600 tumbled 2.3%, again of the back of the US jobs report. Travel and leisure led the losses, followed by retail. What to watch today:Australian shares are set to sharply drop in line with losses across Europe and the US overnight. The SPI futures are suggesting a 1.26% fall at the open this morning. In commodities, Crude oil is in the green, regaining earlier losses after falling to as low as US$70, as growing concerns about a global economic slowdown and lower demand offset concerns over tight supply. UK natural gas has dropped over 5%, extending its decline as markets assessed expectations of firm supply against rising demand. Gold is at its lowest in nearly four months as evidence that the labour market remains tight strengthened the case for a hawkish Federal Reserve, which increased the opportunity cost to hold precious metals. So keep watch of gold miners such as Newcrest Mining (ASX:NCM) and Evolution Mining (ASX:EVN). And iron ore remains close to a two-month high. Trading Ideas:Bell Potter maintains a Buy rating on Regal Partners (ASX:RPL), with the company expected to update the market on mid-year funds under management in mid/late July. They have increased their price target from $3.71 to $3.45, and at RPL’s current share price of $2.58 this implies 33.7% share price growth in a year. And Trading Central has identified a bearish signal in OFX Group (ASX:OFX) indicating that the stock price may fall from the close of $1.90 to the range of $1.35 to $1.45 over 34 days, according to the standard principles of technical analysis. 

The release of the Federal Reserve’s meeting minutes sent Wall Street into sell-mode on Wednesday in this shortened trading week as investors digested the minutes including the outlook for further tightening of monetary policy. Also adding to the negative sentiment on Wall St was data released on Wednesday morning showing factory orders were weaker than expected in May. Investor sentiment may also waver later in the week when a batch of employment data is released which will enable insights into the strength and tightness of the US labour market to date. The Dow Jones fell 0.38% on Wednesday while the S&P500 lost 0.2% and the Nasdaq dropped 0.18%.Over in Europe, markets in the region closed lower on Wednesday as investors shifted focus back to weakening global growth outlook and recessionary concerns. PMI figures for June in the eurozone showed business output for the month contracted as services growth eased despite easing inflationary pressures. This combined with China’s service sector activity also slowing considerably has investors worried about slowing global economic growth. The STOXX600 fell 0.7%, Germany’s DAX lost 0.63%, the French CAC fell 0.8%, and in the UK, the FTSE100 fell 1.03%.The RBA rate pause-driven rally of yesterday was very short-lived as the key index closed 0.35% lower on Wednesday. The ASX traded in negative territory for almost all of yesterday’s session weighed down by sharp losses for financial, healthcare and energy stocks, while Telecommunications and Utilities stocks offset some of the heavy losses on the market yesterday. CSL weighed down the healthcare sector yesterday with the biotech giant losing 0.63% yesterday, while AMP took the biggest hit on the ASX200 yesterday losing over 6% before entering a trading halt as the Federal Court in Victoria ruled in favour of claimants against AMP in a class action known as the ‘buyer of last resort’ proceedings.The winning stocks on the ASX200 yesterday were Elders (ASX:ELD) adding 4.8%, Bellevue Gold (ASX:BGL) lifting 4.09% and Seek (ASX:SEK) rising 3.9%. And on the losing end aside from AMP (ASX:AMP), Netwealth Group (ASX:NWL) fell 3.8% and Telix Pharmaceuticals (ASX:TLX) lost 3.4%.Overseas, China’s latest Caixin manufacturing data released yesterday for June came in at 53.9 points which fell short the forecasted 56.5 points and is a sharp decline from the 57.1 points recorded in May, adding further concerns around China’s overall economic recovery post-pandemic.What to watch today:Ahead of the local trading session here in Australia the SPI futures are anticipating the local index to open 0.51% lower following the global market sell-off overnight.AU$1.00 is buying US$0.67 cents, 96.28 Japanese Yen, 52.63 British Pence and NZ$1.08 dollar.Trading Ideas:Bell Potter has increased the 12-month price target on Nanosonics (ASX:NAN) from $3.90 to $4.15 and maintain a sell rating on the healthcare equipment and services company following a site visit to the company’s US headquarters in Indianapolis, where the US accounts for around 90% of group revenues. The key learning from the Bell Potter team visit was that Nanosonics’ Trophon 2 device remains under penetrated in many clients, in particular amongst former GE clients. Bell Potter maintains a sell rating as they believe this stock is full priced, however increase the price target based on revenue for FY23 likely to be at the top end of guidance around 41% and gross margin in the range of 77-79%.And Trading Central has identified a bullish signal on Beacon Lighting (ASX:BLX) following the formation of a pattern over a period of 30 days which is roughly the same amount of time the share price may rise from the close of $1.74 to the range of $1.94 to $2.00 according to standard principles of technical analysis.

It was good news for all mortgage holders on the interest rate yesterday with the RBA announcing a rate pause for July at the latest RBA meeting. The local market see-sawed before the RBA rate announcement with the nation’s cash rate remaining at 4.1% for the month of ahead. Growth in Australia’s economy has slowed, the labour market tightness has begun to show signs of easing, consumer spend is decreasing, but wages growth is still the one sticky inflation driver that remains strong.The CPI figures for May were a key indicator for the RBA’s pause, with inflation down under falling to 5.6% for the month of May, from 6.8% in April, in a sign the rate hikes are having a significant effect on cooling inflation. The rate may be on pause for July however further rate hikes were not ruled out for months to come.Locally, the ASX jumped 0.45% following the RBA’s announcement after see-sawing in morning trade, with the afternoon rally largely driven by a surge in real estate stocks as the rate pause maintains the value of properties and keeps REIT funding and borrowing costs at bay for another month.Gold miners rallied yesterday on strength in the price of the precious commodity as well as Goldman Sachs initiating coverage of Gold Road Resources (ASX:GOR), which fuelled a rally for ASX-listed gold miners yesterday.Costa Group led the charge yesterday soaring over 12% after announcing the receipt of a takeover offer worth $3.50/share from Paine Swartz Partners in a deal worth $1.6bn. Following the receipt of the offer, Costa Group’s board has granted Paine Swartz Partners an eight-week period of non-exclusive due diligence to enable PSP to put together a binding offer.The winning stocks on the ASX200 yesterday were led by Costa Group soaring (ASX:CGC) almost 13%, Silver Lake Resources (ASX:SLR) jumping 5.77% and Paladin Energy (ASX:PDN) lifting 4.73%. And on the losing end Domain Holdings (ASX:DHG) fell 3.66%, Star Entertainment Group (ASX:SGR) lost 1.7% and Chalice Mining (ASX:CHN) fell 1.6%.Over in the US, markets are closed today for the July 4th Holiday, while in Europe, it was a very lacklustre session across markets on Tuesday with little direction from the US being closed and minimal economic data out in the region. Investors in the region also remain cautious around the direction of interest rates and uncertainty around global growth. What to watch today:Ahead of the local trading session the SPI futures are anticipating the ASX to open 0.17% lower on Wednesday.On the commodities front this morning, oil is up almost 2% at US$71.15 driven by Russia and Saudi Arabia cutting production output, while gold is up 0.18% at US$1924/ounce and iron ore is down 1.76% at US$111.50/tonne.AU$1.00 is buying US$0.67 cents, 96.75 Japanese Yen, 52.57 British Pence and NZ$1.08.Trading Ideas:Bell Potter has downgraded the rating on Costa Group (ASX:CGC) from a buy to a hold but upgraded the price target from $3 to $3.50 per share following the announcement yesterday of Costa receiving a takeover offer presented by Paine Swartz Partners for $3.50ps in cash. Shareholders would also receive the 1H23 dividend of up to $0.04ps. Bell Potter has downgraded to a hold following the share price inflation, but the analyst notes they are not ruling out the possibility of potential interest from other parties.And Trading Central has identified a bullish signal on Whitehaven Coal (ASX:WHC) following the formation of a pattern over a period of 24-days which is roughly the same amount of time the share price may rise from the close of $6.92 to the range of $8.10 to $8.30 according to standard principles of technical analysis.

Trading was positive on Wall Street overnight, as US equities closed higher, in a shortened session, that marked the start of a new trading month, quarter and half. US markets closed early ahead of the Fourth of July holiday, and they will be closed tonight as well.  The Nasdaq advanced the most, while the Dow Jones and the S&P500 closed just slightly in the green. In fact, at the end of last week, the Nasdaq closed out its biggest first-half gain since 1983, advancing 31.7%. What to watch today:The Australian share market is set to open flat this morning, according to the SPI futures, as local investors wait to see if RBA policymakers, meet expectations today at their July meeting. The market is expecting the RBA to pause their rate rising cycle this month and hold the cash rate at 4.35%. The decision will be announced at 2:30pm today AEST. In commodities, Crude oil is trading lower at US$70 per barrel, after Saudi Arabia announced it would extend its voluntary cut of one million barrels per day for August and could prolong further. They will produce approximately 9 million barrels a day, which will be their lowest in several years. The gold price is also in the red as investors continue to assess the path for the Federal Reserve’s monetary policy. And iron ore is lower, trading at US$113.50 per tonne, as investors are still waiting on any announcements from the Chinese government on stimulus measures for the construction sector, which struggled through pandemic lockdowns. Trading Ideas:Bell Potter maintains a Buy rating on Eagers Automotive (ASX:APE), after announcing it has increased its interest in EV Dealer Group. Bell Potter have lowered their price target to $15.00, and at APE’s current share price of $13.83, this implies 9.5% share price growth in a year. And Trading Central have identified a bullish signal in Ansell (ASX:ANN) indicating that the stock price may rise from the close of $27.14 to the range of $28.10 to $28.40 over 16 days, according to the standard principles of technical analysis. 

Wall Street closed higher across the key indices on Friday to round out a strong first half of 2023. Technology stocks were once again the driving force behind Friday’s rally, with Nvidia rising 3.6%, Microsoft advancing 1.6% and apple adding 2.3% higher to close above a US$3trn market cap. The Dow Jones added 0.84% on Friday, the S&P500 rose 1.23%, and the tech-heavy Nasdaq advanced 1.45%, to end its best first half of a year since 1983. Nike shares fell 2.7% on Friday after the apparel giant posted a weaker-than-expected quarterly profit.Despite the very strong first half, some of Wall Street expect investors to take profits from the first half rally in the second half amid ongoing volatility and the outlook for interest rates to continue rising alongside the potential threat of a recession.Over in Europe, markets closed higher on Friday and notched out gains for the first half despite interest rate hikes and the regional banking crisis. Eurozone inflation data for June also released late last week showed a greater-than-expected fall to 5.5% for the month indicating the fiscal tightening of the ECB could be starting to have an impact. On Friday the STOXX600 rose 1.2%, Germany’s DAX added 1.26%, the French CAC rose 1.19% and, in the UK, the FTSE100 rose 0.8%.Locally, the ASX rose 0.12% to finish the last trading session of the financial year at 7203 points and up 1.47% for the week. Information technology were again the leading stocks on the ASX on Friday, with the sector adding 0.83%, while consumer staples and healthcare stocks were sold off.Link Administration Holdings (ASX:LNK) tanked almost 14% on Friday after the company provided an update that one of its largest customers, industry superannuation fund HESTA, will not renew its contract when it expires.  What to watch today: Ahead of the local trading session the SPI futures are expecting the ASX to open the first trading session of the new financial year 0.41% higher.On the commodities front this morning, oil is trading 0.13% lower at US$70.53/barrel, coal is up 0.12% at US$128.05/tonne, uranium is down 0.53% at US$56.20/pound, gold is up 0.56% at US$1918.82/ounce and iron ore is down 1.73% at US$113.50/tonne.Taking a look at economic data out today, Australia’s building permits data for May is released just before midday with the market expecting a rebound in permits through growth of 2%, up from a decline of 8.1% in April. Australia’s home loans data MoM is also out today with the forecast of a 4% rise, from a 3.8% fall in April.AU$1.00 is buying US$0.67, 96.15 Japanese Yen, 52.44 British Pence, and NZ$1.09.Trading Ideas:Bell Potter has downgraded the price target on Bubs Australia (ASX:BUB) from 22 cents per share to 20 cents per share and maintain a hold rating on the company following the recent revenue guidance statement released by the infant formula company including guidance of $52.5m to $55.7m, which is well below Bell Potter’s previously expected revenue of $60m from the company for FY23. Bell Potter also noted Australian exports of finished IMF to China have remained subdued, down 40% YoY and that Bub’s has a clear challenge of managing excessive inventory positions of the Bub’s Supreme product held by channel partners in China.And Trading Central has identified a bullish signal on IGO Limited (ASX:IGO) following the formation of a pattern over a period of 12-days which is roughly the same amount of time the share price may rise from the close of $15.20 to the range of $16.90 to $17.30 according to standard principles of technical analysis.

The Aussie share market rose 1.35% this week (Mon-Thu) buoyed by the tech sector surging 3.66% as investor appetite for the high growth sector continues to grow.In this week's wrap, Grady covers:(0:11) Geopolitical tensions in Russia(1:05) Volatility in commodity prices(1:54) Opportunities as an investor(2:45) The AI front(3:48) Best performing stocks in the ASX200(4:41) The most traded stocks & ETFs by Bell Direct clients(5:16) Three economic news items to watch out forRead the transcript article here.Read transcript here.

In New York overnight, equities were higher after the large banks gained, following the Federal Reserve’s annual stress test. This is a test that ensures the large banks are capitalised and can lend to businesses and households even in a severe recession. All 23 of the US banks that were included in the Fed’s annual stress test weathered a severe recession scenario while continuing to lend to consumers and corporations. The banks lifted the Dow Jones to close 0.8% higher, while the S&P500 gained 0.45% and the Nasdaq closed flat. European equity markets were mixed as investors assessed commentary from major central bankers on the need to continue to fight inflation. The STOXX600 ended slightly higher, with retail stocks advancing the most on the back of robust earnings from H&M, while travel and leisure stocks declined. What to watch today:The SPI futures are suggesting the Australian share market will rise 0.17% at the open this morning. Looking at commodities, Crude oil has rebounded above US$70 a barrel, as investors assessed a larger-than-expected decrease in US inventories and weighed the impact of rising interest rates on global growth and fuel demand. The latest Energy Information Administration report saw a significant drop of 9.6 million barrels in crude inventories last week, when the market expected a 1.8 million barrel draw. So, keep watch of energy producers today. Gold stocks will also be on watch after the gold price fell overnight. So watch gold miners such as St Barbara (ASX:SBM) and Newcrest Mining (ASX:NCM). And iron ore has advanced, trading at US$116.50 per tonne, very close the two-month high of US$117 touched mid-June. Markets are assessing concerns of lower demand against the possibility that the Chinese government will provide stimulus measures for its construction sector. Trading Ideas:Bell Potter maintains a Buy rating on Telix Pharmaceuticals (ASX:TLX) after recently completing a site tour of the company’s US Head Office and attended an investor day targeted at US investors and the annual SNMMI conference. Their price target remains unchanged at $14, and at TLX’s current share price of $11.44, this implies 22.4% share price growth in a year. And Trading Central have identified a bullish signal in Viva Energy (ASX:VEA) indicating that the stock price may rise from the close of $2.98 to the range of $3.29 to $3.37 over 18 days, according to the standard principles of technical analysis.

Australia’s inflation rate fell faster than expected on an annual basis in May to a rise of 5.6% in the year to May 2023, below the expected rise of 6.1% and well below April’s annual increase of 6.8%, in a major sign the RBA’s rate hikes are having a strong impact in cooling inflation down under. The most significant price rises were Housing (+8.4%), Food and non-alcoholic beverages (+7.9%), and Furnishings, household equipment and services group (+6%). Offsetting the rise in CPI for the year to May 2023 was Automotive fuel prices dropping 8%, which is a significant decline on the April reading of +9.5%.The local market responded very positively to the release of the CPI data with the ASX200 closing the midweek session up 1.10% led by a 2.14% surge in consumer discretionary stocks, a sector that has been beaten down in recent times due to higher interest rates restricting consumer spend on discretionary goods.Over in New York on Wednesday, it was a mixed session as investors responded to comments made by Federal Reserve Chair Jerome Powell regarding the need for further tightening of monetary policy. Powell said on Wednesday that “more restrictive policy is still to come” as inflation remains above the target of 2%.On Wednesday, the Dow Jones closed Wednesday’s session down 0.22%, the S&P500 fell just 0.04%, and the tech-heavy Nasdaq rose 0.27%.Over in Europe, markets closed higher on Wednesday as investors in the region closely monitored further comments made by central bankers and officials at the European Central Banking conference in Portugal. Bank of England Governor Andrew Bailey defended the Bank of England’s decision to hike rates by 50 basis points last week, while the overall message from the conference remained focused on “higher for longer”.The STOXX600 rose 0.7%, Germany’s DAX rose 0.64%, the French CAC added almost 1%, and, in the UK, the FTSE100 rose 0.52%.What to watch today:Ahead of the local trading session the SPI futures are anticipating the ASX to open 0.07% lower following a weaker session on Wall St overnight.On the commodities front this morning, oil has rebounded to trade 2.75% higher at US$69.56/barrel, coal is up 1.91% at US$127.90/tonne, gold is down 0.32% at US$1907.23/ounce and iron ore is up 2.67% at US$115.50/tonne.Japan’s consumer confidence data for June is out this afternoon, with consensus expecting a rise of 0.2 points to 36.2 as the economy continues recovering from pandemic-related disruptions.AU$1.00 is buying US$0.66, 95.31 Japanese Yen, 52.48 British Pence and NZ$1.09.Stocks trading ex-dividend today include Stockland, Transurban Group, APA Group and GPT Group. Trading Ideas:Bell Potter has initiated coverage of CSR (ASX:CSR) with a Hold rating and a price target of $5.60 noting the diversified manufacturing company boasts sector leading performance with operations in building products, aluminium and property development. The hold rating is due to CSR’s addressable backlog of work from Homebuilder nearing conclusion signalling the Building Products division of CSR approaches the backend of its pricing cycle. Bell Potter is attracted to the long-term market share opportunity for Hebel in Australia and tailwinds supporting CSR’s property portfolio.And Bell Potter has increased the price target on PointsBet (ASX:PBH) from $2 to $2.25 and maintain a speculative buy rating on the sports betting company after the announcement that Fanatics Betting and Gaming has increased its offer for PointsBet’s US business from US$150m to $225m in cash. DraftKings was in the running to buy the American operations however failed to finalise a binding offer by 6pm on Tuesday so the PointsBet board is recommending the increased Fanatics offer given its superiority in both terms of pricing and certainty.

The local market returned to rally mode on Tuesday closing the session up 0.56% as a near 2% rise in real estate stocks lifted the market, while materials also added over 1.15% and financials closed up 0.66%.As the cost-of-living pressures continue to bite, the flying kangaroo is flying higher than ever with demand for travel on Qantas remaining resilient as outlined by the airline yesterday in a May update to the market. Qantas said more than 4 million customers are expected to travel during the current school holidays on Qantas and Jetstar and overall demand remains strong as consumers continue to prioritise travel over other spending categories.Bega Cheese shares also dipped on Tuesday after the dairy producer also released a trading update outlining that falling supply of Australian milk means it expects prices of milk to rise again in FY24, meaning Bega, as one of the largest buyers of farmgate milk in Australia, expects to report an impairment in the value of its build dairy business between $180m - $280m, with a clearer final figure expected when Bega receives the audited result for FY23 and will update the market when they have more clarity.And for all the KFC chicken lovers out there, shares in Collins Foods, the operator of 272 KFC fast food restaurants in Australia, rocketed almost 16.5% yesterday after the company released full year results outlining revenue rose 14.2% to $1.349.5bn and an underlying net profit of $51.9m, which was down 12% YoY but beat expectations. Collins Foods warned inflation is set to remain sticky for the next 12-months due to persistent inflation in the costs of running the fried chicken outlets including wages, energy prices and input costs.What to watch today:Ahead of the local trading session the SPI futures are anticipating the ASX to open 0.37% higher on the back of the global rally overnight.On the commodities front this morning oil is trading 2.76% lower at US$67.47/barrel as central global growth rate concerns offset upside momentum from Saudi Arabia’s production cuts coming into effect next week. Gold is trading 0.45% lower this morning at US$1914/ounce, and iron ore is down 1.75% at US$112.50/tonne.AU$1.00 is buying US$0.67 , 96.33 Japanese Yen, 52.63 British Pence and NZ$1.08.Australia’s monthly CPI indicator data for May is out today, with consensus expecting a decline to 6.1% for the month, down from 6.8% in April, which would indicate the RBA’s actions to hike rates is making a strong impact on cooling inflation, which has been particularly stubborn to tame especially for services and transport inflation.Trading Ideas:Bell Potter has downgraded the rating on Bega Cheese (ASX:BGA) to a Hold from a Buy, and decreased the price target on the cheese and dairy company from $4.00 to $3.50 following the company’s release of an update including a rise in farmgate milk prices, Australian milk solids appearing mispriced against export ingredient prices, impeding returns in bulk ingredients and the risk that more attractively priced offshore milk solids increasingly find their way into the domestic market, all leading to headwinds in some domestic revenue streams.And Bell Potter has increased the price target on De Grey Mining (ASX:DEG) from $1.83 to $1.93 and maintain a speculative buy rating on the gold miner after the company released an updated Mineral Resource Estimate for its 100%-owned Mallina Gold Project, with the resource now standing at 278 million tonnes @1.3g/t of gold for 11.7 million ounces contained, representing a 10% increase in contained ounces from the prior Mallina Gold Project Mineral Resource Estimate.

Well looking at global markets overnight, US equities closed in the red, following a sell-off in technology companies, which have outperformed this year. The pullback in tech stocks saw the Nasdaq sharply drop, closing the session 1.16% lower. Meanwhile, the S&P500 fell 0.45% and the Dow slightly down 0.04%. In Europe, markets closed mixed, with Germany’s DAX, the FTSE 100 and the STOXX 600 all closing the session down just 0.1%, while France’s CAC was in the green. What to watch today:The Australian share market is set to open higher this morning, with the SPI futures suggesting a 0.28% rise at the open. In commodities,              Global oil prices were higher following news of an armed rebellion against Russian President Vladimir Putin. Prices rose as investors monitored a potential oil shortage. The price of gold has rebounded further from a three-month as global economic uncertainties and political instability in Russia drove some safe-haven demand for metal. And iron ore remains close to a two-month high as markets assessed concerns of lower demand against the possibility that the Chinese government will provide stimulus measures for its construction sector. And today keep watch of Appen’s (ASX:APX) share price moments. The AI data services company faced further turbulence yesterday, with its share price plunging 12% on the release of an announcement outlining its CFO, Helen Johnson, has decided to stand down just two months after stepping into the role. Also keep watch of Wesfarmers (ASX:WES), which rallied yesterday after the Australian conglomerate entered into a scheme implementation deed through its wholly-owned subsidiary, Australian Pharmaceutical Industries to acquire 100% of Silk Laser Clinics’ outstanding shares for $3.35 cash per share by way of a scheme of arrangement. The deal values Silk Laser Clinics at $180 million and the Silk board has unanimously recommended that shareholders vote in favour of the scheme. Trading Ideas:Bell Potter have downgraded their recommendation on DDH1 (ASX:DDH) from a Buy to a Hold, after the company announced that they entered into a binding Scheme Implementation Agreement. Perenti (ASX:PRN) will acquire 100% of the fully paid ordinary shares in DDH). Bell Potter have also downgraded their price target to the current implied acquisition price of $0.94 per DDH share. And Trading Central have identified a bearish signal in Charter Hall (ASX:CHC) indicating that the stock price may rise from the close of $10.52 to the range of $9.30 to $9.60 over 57 days according to the standard principles of technical analysis. 

Wall Street slid on Friday with the key indices closing lower for the week and the Nasdaq snapping an 8-week winning streak as investors shift focus to the high potential of a US and possibly global recession. The Dow Jones fell 1.7% over the week, the S&P500 lost 1.4%, and the tech-heavy Nasdaq also fell 1.4%. Inflation around the world remains elevated, and stock markets have been on a solid rally of late, so investors have pulled back optimism and now assess the high likelihood of a US recession as the Federal Reserve maintains an aggressive stance toward tackling inflation. Shares in Goldman Sachs declined on Friday after CNBC reported the investment bank is likely to face a large write down for its 2021 acquisition of fintech firm GreenSky.Over in Europe, markets in the region closed lower on Friday amid dampened global investor sentiment and on the back of a hawkish 50-basis point rate hike out of the Bank of England on Thursday. In the eurozone flash purchasing managers’ index data, a fall from 52.8 points to 50.3 points. A reading below 50 indicates a contraction, which is something to keep in mind for the euro zone over the month ahead. The STOXX600 fell 0.3% on Friday, Germany’s DAX fell 0.99%, the French CAC lost 0.55%, and, in the UK, the FTSE100 lost 0.54%. German energy company, Siemens Energy tumbled 37% on Friday after scrapping its profit guidance due to issues with its wind turbine division.On the local index, the ASX200 dived 1.34% on Friday, weighed down by a near 4% loss in the energy sector as the price of oil dipped 3.15% last week to US$69.71/barrel as rate hike concerns and recession fears weigh on demand outlook for the commodity. The utilities and consumer staples sectors were the only two to close in positive territory on Friday.What to watch today:Ahead of the local trading session, the SPI futures are anticipating the ASX to open Monday’s trading session down 0.23% on dampened global investor sentiment.Taking a look at commodities this morning, oil is up 1.06% to start the new trading week at US$69.89/barrel, coal is down 0.2% at US$125.50/tonne, gold is up 0.16% at US$1923.68/ounce and iron ore is flat at US$114.50/tonne.On the economic data front, the European Central Bank Forum on Central Banking begins today in Portugal where central bank governors, and officials meet to exchange views on current policy issues and discuss the forum’s outlook for longer-term perspective.AU$1.00 is buying US$0.67, 96 Japanese Yen, 52.35 British Pence and NZ$1.09.Trading Ideas:Bell Potter has increased the price target on Delta Lithium (ASX:DLI) from $1.05 to $1.25 and maintain a buy rating on the lithium explorer following the release of high-grade drilling results and updated deposit dimensions. The company reported drilling results from its Yinnetharra Lithium Project in WA and notes ‘Malinda boasts a lithium Mile’ comprising two major parallel ore zones M1 and M35 each now drilled out over 1.6km in strike length. The company’s Mt Ida asset it also a near-term producer, targeting direct shipping operation from Q4FY23.Trading Central has identified a bearish signal on Helloworld Travel (ASX:HLO) following the formation of a pattern over a period of 49-days which is roughly the same amount of time the share price may fall from the close of $2.47 to the range of $1.95 to $2.05 according to standard principles of technical analysis. 

The Aussie share market fell 0.77% this week (Mon-Thu) as the recent rally for information technology stocks lost steam with the sector closing 3.13% lower over the four days. Investors bought into consumer staples stocks which are generally more likely to hold their value in a high interest rate, high inflation environment.In this week's wrap, Grady covers: (0:34) Understanding the EV movement (1:04) Updates on Rio Tinto (ASX:RIO) & BHP Group (ASX:BHP) (2:46) Updates on Delta Lithium (ASX:DLI) & Talga Resources (ASX:TLG) (3:57) Investing in the battery metals sector (4:33) Best performing stocks in the ASX200 (5:35) The most traded stocks & ETFs by Bell Direct clients (6:08) Three economic news items to watch out for Read the article here. 

European stocks closed lower overnight after the Bank of England opted for a more hawkish 50 basis point rate hike. The STOXX 600 is down 0.5%, trimming earlier losses of more than 1%. The index has posted declines in all four sessions so far this week. US equities saw little improvement overnight as Wall Street heads for a losing week. The Nasdaq performed best as investors boosted tech stocks, after a three- day breather from the market rally and Apple shares moved to a new all-time high. The Nasdaq closed 0.95% higher, the S&P500 up 0.37%, while the Dow Jones closed flat. What to watch today: The SPI futures are suggesting our local market will drop 0.1% at the open this morning. In commodities, Crude oil has dropped more than 4% to approach US$69 a barrel, as hawkish messages from major central banks raised concerns that interest rates will continue to march higher for longer, therefore impacting demand further. The price of gold extended losses hitting its lowest in over three months, following the hawkish outlook for major central banks, which continues to pressure the demand for non-interest-bearing bullion assets. Iron ore is also trading in the red, as concerning macro data out from China underscored its struggle to recover from the pandemic lockdowns, particularly in the property sector. Trading Ideas:Bell Potter maintains a buy rating on Gold Road Resources (ASX:GOR) following the company’s production report. Production was impacted by reliability and utilisation of the production drills and availability of blasting resources and a significant rain event. Bell Potter have reduced their price target from $2.05 to $1.95. At GOR’s current share price of $1.60, this implies 21.9% share price growth in a year. And Trading Central have identified a bearish signal in MAAS Group Holdings (ASX:MGH) indicating that the stock price may fall from the close of $2.57 to $2.19 to $2.27 over 33 days, according to the standard principles of technical analysis. 

US and European markets declined overnight, following the Federal Reserve’s Chairman’s latest comments on inflation, that weighed on the investor sentiment. Jerome Powell said that more rate hikes are likely ahead to combat inflation. US equities were flat in overnight trading, after the market suffered three consecutive days of declines, as the tech-power rally has started to fade. All three major benchmarks fell for three days in a row, with the S&P500 marking its worst daily performance this month.  What to watch today: The SPI futures are suggesting our local market will drop 0.14% at the open this morning, after markets closed in the red overnight. In economic data, the Manufacturing and Services Flash PMI will be out this morning. That’s the producer’s managers index, that looks at economic trends in the manufacturing and services sectors. The flash PMI is a forward-looking estimate of the final PMI out next Wednesday. And remember a PMI above 50, illustrates an expansion from the month prior. Looking at commodities, The price of oil is trading 2% higher at US$72.60 a barrel, the highest in two weeks, on optimism about strong demand in the United States. The gold price is lower, extending losses from this week, to their lowest in three months, following the comments made by the Fed. And iron ore is now slightly lower, however is hovering near its seven-week high of US$115.50 per tonne, amid bets of incoming stimulus rollouts from Beijing. Trading Ideas:Bell Potter maintains a Buy rating on Lynas Rare Earths (ASX:LYC) and have decreased their price target by 4% to $8.55 from $8.90. Bell Potter says that LYC is a high-quality business, and a key supplier of separated rare earths to Western economies. The price target of $8.55 and the current share price of $7.43, implies 15% share price growth in a year.  And Trading Central have identified a bearish signal on Flight Centre (ASX:FLT), indicating that the stock price may fall from the close of $19.90 to the range of $18.30 to $18.70 over 35 days, according to the standard principles of technical analysis. 

The RBA meeting minutes were released yesterday hinting at the potential for further rate hikes to come, possibly taking the nation’s cash rate to 4.60%, as the outlook for price pressures to become embedded raises concerns for the RBA especially if wages continue rising against stagnant productivity output. Stagnant productivity was a key inclusion in the RBA meeting minutes as members discussed the importance of growing productivity amid output per hour worked not increasing over the past 3 years, hence leading to GDP data growth actually worsening in Q1FY23. The ASX closed 0.86% higher yesterday, extending the ASX rally of late into a 7th straight session, buoyed by a surge in energy stocks with the sector closing just shy of 2% higher on Tuesday.In Australia, retail stocks took another hit yesterday after Best & Less (ASX:BST) downgraded profit guidance by 65% as the consumer discretionary sector as a whole feels the brunt of declining consumer spend. The company now expects net profit between $3.6m and $4.2m in H2FY23, down from the initial guidance issued of $10m to $12m.Over in New York on Tuesday, stocks are trading lower on the first trading session of the week on Wall St as the recent lengthy rally took a slight breather ahead of Federal Reserve Chair Jerome Powell’s congressional testimony. The Dow Jones fell 0.72% on Tuesday while the S&P500 lost 0.47% and the Nasdaq declined 0.16%. On the earnings front, FedEx reports FY23 results after the closing bell on Tuesday. Adding to investor uncertainty was homebuilding projects data in the US out for May showing a surge in single-family homebuilding projects. In Europe, markets closed lower across the board on Tuesday as investor sentiment remains cautious particularly following recent data from China and the lacklustre return to full operational capacity in the region weighing on global economies. The STOXX600 fell 0.6% on Tuesday, Germany’s DAX fell 0.55%, the French CAC lost 0.27% and, in the UK, the FTSE100 lost 0.25%.  What to watch today: Ahead of the local trading session the SPI futures are anticipating the local index to open 0.4% lower amid global markets turbulence overnight.On the commodities front this morning, oil is down 1.03% at US$71.18/barrel, gold is down 0.67% at US$1937/ounce, copper is up 2.24% at US$3.87/pound, and iron ore is flat at US$117/tonne.Economic data out today includes UK annual inflation rate data with the market expecting a decline to 8.4% in May from 8.7% in April.Investors in the UK will be awaiting the rate decision out of the Bank of England tomorrow with the expectation for a 25-basis point rate hike which will take the British cash rate to 4.75% for the month ahead.AU$1.00 is buying US$0.68, 95.85 Japanese Yen, 53.70 British Pence and NZ$1.10. Trading Ideas:Bell Potter has downgraded the price target on Mineral Resources (ASX:MIN) from $95 to $90 per share but maintain a buy rating on the mining giant after the company updated the market on its lithium business including the termination of the Mount Marion toll treatment agreement with Ganfeng Lithium Co. but MIN will still sell its Mount Marion spodumene concentrate to Ganfeng at market prices. Mineral Resources also updated the market on a second natural gas discovery at North Erregulla Deep-1, and early results of exploration for lithium at Mount Marion confirmed exploration potential at depth.And Bell Potter has initiated coverage of COSOL (ASX:COS)with a Buy rating and a price target of $1 noting the specialised digital IT solutions and data management company offers a compelling value proposition in the Enterprise Asset Management industry with strong financial growth, a diverse client base, strategic partnerships and actively supports its clients’ sustainability goals.

The local market started the new trading week 0.6% higher, carrying the ASX rally into a 6th straight session driven by a rally for healthcare stocks, namely, CSL as investors took last week’s update-driven sell-off as an opportunity to buy into Australia’s largest biotech company on Monday.Locally, PointsBet (ASX:PBH) jumped 19% during the session after updating the market on its non-binding indicative proposal from DraftKings to acquire PointsBet’s US business for a headline purchase of US$195m on a debt-free and cash-free basis. Yesterday’s announcement saw the PointsBet board share that DraftKings offer could be ‘reasonably expected to lead to a Superior Proposal’, which would further boost the PBH share price, especially as Fanatics Betting is also in the race to acquire the online sports betting company. On the mining front, Lake Resources (ASX:LKE) tanked 16% on Monday after releasing a two-phase development to targeted production of 50,000 tonnes per annum of battery grade lithium carbonate at its Kachi project in Argentina. The update outlines significantly higher capital costs, a 3-year delay to the expected production date commencement at the mine and a 50% reduction to the target amount of tonnes per annum of lithium from the project. Wall St was closed overnight for the Juneteenth National Independence day holiday, however all eyes will be on Fed Chair Jerome Powell’s testimony on Thursday night Australian time to determine what the rate hike movements look like for the coming months. The Nasdaq was the winning index last week, gaining 3.3% as investor appetite for technology stocks continues to grow amid the hype around AI and its ability to drive hyper operational efficiency across many industries.Over in Europe, equities fell on Monday as investors’ concerns over weakened demand recovery from China weighed on resources companies in the region, and healthcare stocks took a hit on dampened corporate forecasts. The STOXX600 fell 1% on Monday with all sectors ending the session in negative territory, while Germany’s DAX lost almost 1%, the French CAC closed 1.01% lower and, in the UK, the FTSE100 fell 0.71%.   What to watch today: Ahead of the local trading session here in Australia, the SPI futures are expecting the ASX to open Tuesday’s session 0.15% higher, extending the local green run into a 7th straight session.On the commodities front this morning, oil is trading 0.8% lower at US$71.21/barrel, coal is down 5.52% at US$128.45/tonne, gold is down 0.4% at US$1949.70/ounce and iron ore is up 0.43% at US$117/tonne.Stocks trading ex-dividend today include Premier Investments (ASX:PMV). If you’ve been thinking about this stock it might be worth considering buying in today as stocks trading ex-dividend generally trade lower on the ex-dividend date.AU$1.00 is buying US$0.68, 7.20 Japanese Yen, 53.75 British Pence, and NZ$1.10. Trading Ideas:Bell Potter has initiated coverage of Matrix Composites & Engineering (ASX:MCE) with a Hold rating and a price target of $0.35 noting the near-term earnings and free cash flow outlook is leveraged to increases in global offshore energy development activity, which Bell Potter estimates is currently at a 5-year high, resulting in an uplift in outstanding product orders to be delivered of 2H FY23 and FY23.And Bell Potter has downgraded the price target on Bega Cheese (ASX:BGA) from $4.10 to $4.00 and maintain a buy rating on the dairy company amid forecasts for movements in the cash rates, implied yield curves and impact of the strengthened Aussie dollar to USD on AUD commodity returns.

On Wall St, stocks closed lower on Friday but higher across the key indices for the week as investor sentiment was boosted by a rate pause out of the fed, encouraging inflation data and ongoing strength in the technology sector which saw the Nasdaq rise 3.3% for the week, marking an eight-week winning streak. The Dow Jones added nearly 1.3% for the week and the S&P500 rose 2.6% on the week. Software giant Adobe rose 0.9% on Friday after beating expected results and issuing upbeat earnings guidance, while Virgin Galactic rose 13% after announcing on Thursday that it will launch its first commercial space tourism flight this month.Over in Europe, markets closed higher on Friday as investors digested the latest monetary policy decision out of the European Central Bank in the form of a 25-basis point rate hike for the month ahead. ECB president Christine Lagarde said they are not thinking about pausing yet. Germany’s DAX rose 0.41% on Friday while the French CAC added 1.34% and, in the UK, the FTSE100 rose 0.19%.The local market jumped over 1% on Friday led by a 3.5% surge in the energy sector led by Whitehaven Coal rallying over 8%, while Santos added 4.1% and Woodside Energy jumped 3.5%.AGL Energy was the winning stock of Friday’s session after the electricity and gas provider released a guidance update on Friday revealing it expects underlying profit for 2023-2024 double with an expected increase between $580m and $780m, which is a significant jump from the guidance issued this year of between $255m and $285m. The strong profit guidance is driven by higher wholesale power prices and improved power plant operations.What to watch today:Ahead of the local trading session here in Australia, the SPI futures are anticipating the local index to open the first trading session of the week down 0.04%.On the commodities front this morning, oil is trading 0.48% lower at US$71.44/barrel, coal is down 5.52% at US$128.45/tonne, uranium is up 4.05% at US$57.75/pound, gold is down 0.03% at US$1957/ounce, and iron ore is up 0.43% at US$117/tonne.There is no local economic data out today however investors will be awaiting the release of the RBA’s latest meeting minutes out tomorrow which will give an insight into how hawkish or dovish the RBA are regarding interest rate hikes over the coming months.AU$1.00 is buying US$0.69 cents, 97.55 Japanese Yen, 53.75 British Pence and NZ$1.10 dollar.Trading Ideas:Bell Potter has downgraded the price target on Australian Vintage (ASX:AVG) from 65cps to 50cps and maintain a hold rating on the Australian wine company following the release of a trading update outlining revenue and EBITDAS guidance for FY23 that were broadly in-line with expectations but significantly lower than FY22 as growing conditions worsened during key yield development months earlier in the year. As a result of the conditions, AVG’s company owned and leased crush came in materially below previous guidance, representing a 20% decline on yield vs 2022. The upside for AVG is the company continues to win market share in the premium product segments.Trading Central has identified a bullish signal on Woodside Energy Group (ASX:WDS) following the formation of a pattern over a period of 13-days which is roughly the same amount of time the share price may rise from the close of $35.63 to the range of $38.10 to $38.70 according to standard principles of technical analysis.

The Aussie share market rose 0.74% this week (Tue-Thu) as information technology stocks rallied whilst the health care sector headed to the chopping block. In this week's wrap, Grady covers: (0:10) Investor sentiment(0:30) The turmoil surrounding Domino’s (ASX:DMP), CSL (ASX:CSL) & DGL (ASX:DGL)(4:05) Downgrades as the key driver of guidance revisions(5:20) Best performing stocks in the ASX200(6:07) The most traded stocks & ETFs by Bell Direct clients(6:40) Three economic news items to watch out for

Wall Street closed mixed on Wednesday as investors assessed favourable PPI data, and the federal reserve holding the cash rate at 5%-5.25% for another month, against the Fed signalling more rate hikes are expected in the coming months. US producer purchasing price index data for May came in at a decline of 0.3%, beating expectations of a 0.1% drop and well below the unexpected rise of 0.2% in April, in another sign the Fed’s aggressive rate hike strategy is cooling economic growth and inflation. Goods prices fell 1.6%, the largest decrease since July 2022 mainly due to a 13.8% decline in gas prices and a 1.3% drop in food prices. The federal reserve’s FOMC meeting wrapped up overnight with the fed announcing a pause in rate hikes after 10 consecutive rises, but signalled more rate hikes by the end of the year in anticipation of inflation remaining sticky and above the target of 2%. The S&P500 rose 0.08%, and the Nasdaq added 0.39%, but the Dow Jones fell 0.68%.Over in Europe, markets closed higher as investors looked ahead to the expected rate pause announcement out of the US which came after hours in European time. UK GDP data out yesterday also came in-line with expectations at a rise of 0.2% which was largely driven by growth in services. Germany’s DAX rose just under half a percent, the French CAC added 0.52% and, in the UK, the FTSE100 rose 0.1%.Locally, the ASX rose 0.32% yesterday buoyed by a rally for materials stocks on the back of rising commodity prices driven by optimism that China may reveal a broader economic policy to stimulate economic recovery post pandemic in the very near future. On Tuesday, China’s central bank lowered a short-term lending rate for the first time in 10-months in a bid to boost its struggling-post pandemic recovery, which boosted hopes for a wider policy to be announced soon. Iron ore rallied over 2.2% yesterday, while copper added 2.93% on the news. Biotech giant CSL fell over 7% on Wednesday after the company released an update guiding to lower profits for FY23 due to adverse currency movements. These adverse currency movements mean that CSL will now realise a negative impact to their fiscal 2023 forecast profit of between US$230 and US$250m.What to watch today:On the back of the global rally overnight, the SPI futures are anticipating the local index to open the second last trading day of the shortened week 0.28% higher.On the commodities front this morning, oil is down 1.07% at US$68.69/barrel, coal is down 1.31% at US$132.25/tonne, uranium is up 4.05% at US$57.75/pound, iron ore is up 2.24% at US$114/tonne, and gold is down just 0.01% at US$1943/ounce.AU$1.00 is buying US$0.68, 95.25 Japanese Yen, 53.70 British Pence and NZ$1.10Trading Ideas:Bell Potter has decreased the price target on Frontier Digital Ventures (ASX:FDV) from 89 cents per share to 83 cents per share and maintain a speculative buy rating on the online marketplace investment company following a revisit by the Bell Potter analyst to the company’s exposure and forecasts regarding Pakistan-exposed portfolio companies following the recent meeting of State bank of Pakistan’s Monetary Policy Committee. The Committee resolved to keep its interest rate steady at 21%, as inflation rose to 38% in May. Following this, Bell Potter analysts expect demand in the region to be subdued, having negative implications for Pakistan-exposed companies in Frontier Digital Ventures portfolio including Zameen and PakWheels.And Trading Central has identified a bullish signal on Sandfire Resources (ASX:SFR) following the formation of a pattern over a period of 21-days which is roughly the same amount of time the share price may rise from the close of $6.18 to the range of $6.65 to $6.75 according to standard principles of technical analysis.

The first trading session on the ASX for the shortened week ended in a positive note, with the key index closing up 0.23%, and 8 of the 11 sectors ending the day higher.Pizza giant Domino’s tumbled over 7% on Tuesday after the company said it expects sales to fall below expectations for FY23 as cost-of-living pressures continue to bite. The market may also have been led by NAB business confidence data out yesterday showing Aussie business sentiment slid 4 points in May from a flat reading in April in signs of tougher times faced in the local economy from a business perspective. Westpac Consumer Confidence data also out yesterday had a similarly lacklustre reading, with consumer optimism only rising 0.2% for June from a 7.9% fall in May, which was below expectations of a 3.2% rise.Local tech stocks rallied yesterday, taking lead from a strong session on the Nasdaq in New York on Monday. Over in the US, it is a crucial week for Wall St as the Federal Reserve’s next policy meeting to decide the latest rate decision began yesterday and the rate announcement will be released this afternoon, with economists expecting a halt in rate hikes which will maintain the US cash rate at 5% to 5.25% for the month ahead. The market is also responding to US core inflation figures which were released late last night AU time, showing US core inflation fell to 5.3% from 5.5% in April and the annual inflation rate fell to 4%, the lowest level since March 2021 and below the forecast of 4.1% and down from 4.5% in April. Over in Europe overnight, markets ended higher as investors digested strong UK employment figures and US inflation data ahead of the US Fed’s rate hike decision. UK labour figures showed employment in the region rose 0.2 percentage points from February to April and average wage growth accelerated from 6.7% to 7.2% over the period, which were ahead of expectations. Some economists believe this data will add heat to the Bank of England to raise rates further at the policy meeting next Thursday. Germany’s DAX added 0.83%, the French CAC rose 0.56% and, in the UK, the FTSE100 rose 0.32% on Tuesday.What to watch today:The SPI futures are anticipating the local index to open 0.62% higher this Wednesday on the back of the global inflation data-led rally overnight.On the commodities front this morning, energy stocks have come under pressure this week amid the declining price of oil, with the commodity down 6% over the last week to US$67.32/barrel amid the Fed’s latest meeting, concerns over fuel demand growth in China and increasing supply out of Russia pressuring the price of the commodity. This morning though, oil is up almost 3% at US$69.08/barrel, gold is down 0.77% at US$1941.71/ounce and iron ore is down 3.46% at US$111.50/tonne.AU$1.00 is buying US$0.68, 94.78 Japanese Yen, 53.97 British Pence and NZ$1.10 cents.Trading Ideas:Bell Potter has downgraded the price target on Cedar Woods (ASX:CWP) from $5.40 to $5.20 but maintain a buy rating on the property and land development company following the release of a trading update whereby the company announced lower guidance for FY23 NPAT to approximately $30m compared to the previous guidance of $37.4m. Cedar Woods attributed the downgrade in guidance to weather conditions and supply chain constraints having delayed settlements from Q4 FY23 to FY24.And Bell Potter has increased the price target on Doctor Care Anywhere (ASX:DOC) from 6cps to 8cps and maintain a speculative buy rating on the tele-health company after the company reported a 21% rise in patient consultations in Q1FY23 from the PCP, in addition to record consultations in May of 65,200 patients.

In New York overnight, the S&P500 jumped to its highest level in 13 months, markets have come to expect that the Federal Reserve will skip a rate increase at this week’s Fed meeting. The Fed has hiked 10 consecutive times since beginning its policy tightening cycle in March last year. US investors are also awaiting inflation data out on Tuesday in the US, with economists expecting CPI to show inflation dropping to a 4% annual rate in May. All three major benchmarks rallied overnight. The S&P500 up 0.9%, the Dow up 0.56% and the Nasdaq up 1.53%. European markets also closed higher, ahead of the major central bank meetings. What to watch today:Well, to start the shortened trading week, after yesterday’s public holiday, the SPI futures are suggesting that our local market will open 0.35% higher this morning. In commodities, The oil price is down to its lowest level in over 5-weeks, with concerns about weakening demand in China as well as rising Russian crude supply outweighed Saudi Arabia’s plans to slash output. The oil price is currently trading 4.25% lower at US$67.12 per barrel. So, keep watch of energy producers today. The gold price is also lower ahead of central bank meetings scheduled this week for the Federal Reserve, the European Central Bank, and the Bank of Japan. Meanwhile, iron ore is up more than 3%, trading at US$115.50 per tonne, extending its rebound from the six-month low amid expectations of improved demand. In economic news, at 10:30am today AEST Westpac will release its data on consumer confidence for June and at 11:30am today NAB will release its data on business confidence for May. Trading Ideas:Bell Potter have upgraded their recommendation on PWR Holdings (ASX:PWH), a leading provider of customised cooling solutions to the global motorsports market and the wider automotive industry. They’re upgraded their rating from a Hold to a Buy, after reviewing forecasts considering some soft trading updates from various retailers. The price target has been decreased by 2% to $10.50, which is more than a 15% premium to the share price, hence the upgrade. And Trading Central have identified a bearish signal in Region Group (ASX:RGN), indicating that the stock price may fall from the close of $2.44 to the range of $2.33 to $2.35 over 26 days, according to the standard principle of technical analysis. 

The Aussie share market fell 0.64% (Mon-Thu), as investor sentiment was dampened by the RBA’s unexpected 25-basis point rate hike announcement on Tuesday, with warning of further hikes to come if inflation does not move toward the 2-3% target range.In this week's wrap, Sophia covers:(0:11) What’s happening in the energy sector(1:22) Concerns for manufacturers with energy transitions(1:57) The surge in gas prices(2:47) Best performing stocks in the ASX200(3:31) The most traded stocks & ETFs by Bell Direct clients(4:04) Three economic news items to watch out for

In the US overnight, the S&P500 and Nasdaq closed lower as investors took profits from technology stocks that have rallied over recent weeks, and overall investor sentiment was dampened by a surprise interest rate hike out of Canada’s central bank due to persistent inflation in the region. The rate hike out of Canada heightened investor fears ahead of the Fed’s FOMC meeting next week.US trade balance data for April was also released yesterday weighing on investor sentiment as the data showed the US trade deficit widened in April by US$14bn to US$74.6bn as exports fell 3.6%, which is the most since the pandemic began.The S&P500 lost 0.38% on Wednesday while the Nasdaq declined 1.29%, but the Dow Jones rose 0.27%.Over in Europe, markets also closed lower as investor sentiment remains shaky amid persistently high inflation and fears of further rate hikes to come, especially out of the UK, with new data showing the UK will experience the highest level of inflation among all advanced economies this year.Germany’s DAX fell 0.2% on Wednesday, the French CAC lost 0.09%, and, in the UK, the FTSE100 fell 0.05%.The local index closed 0.16% lower on Wednesday, weighed down by losses in the energy, financials and real estate sectors as investors assessed outlook for further rate hikes out of the RBA alongside the release of Australia’s GDP growth rate data for Q1 which came in below expectations at an expansion of 0.2% quarter-on-quarter, but revealed the low unemployment rate and demand for services had lifted unit labour costs and further weakened already low productivity output growth. Through the year, the economy grew by 2.3%, slowing from a 2.7% expansion in Q4.The GDP data also validates the RBA’s case to possibly continue raising interest rates as real GDP growth slowed mostly from higher prices. It’s also important to note that the RBA are watching key developments in economic datapoints to guide the rate movements forward, including the global economy, household spending, and growth in labour costs. On the latter point, GDP per hour worked fell by 0.3% quarter-on-quarter in Q1, resulting in an annual fall of 4.6% in productivity – which is the largest on record according to CNBC and is a key indicator of the need to raise interest rates. This is because the labour market data suggests that productivity will likely remain weakened this quarter, which will again hike unit labour cost growth and keep services inflation stubbornly high.What to watch today:Ahead of the local trading session here in Australia the SPI futures are expecting the local market to open 0.18% lower.On the economic data front today, Australia’s trade balance data for April will be released just after midday with consensus expecting a decline in Australia’s trade surplus from $15.3bn in March to $14bn in April amid a decline in net exports.On the commodities front this morning, oil is trading 1.01% higher at US$72.47/barrel, uranium is up 1.87% at US$54.60/pound, gold is down 1.02% at US$1942.81/ounce and iron ore is up almost half a percent at US$109/tonne.Trading Ideas:Bell Potter has increased the price target on Green Technology Metals (ASX:GT1) from $1.38 to $1.46 and maintain a buy rating on the lithium exploration and development company after the company announced an initial 8.1million tonnes at 1.32% Lithium Oxide Mineral Resource Estimate for the Root Bay prospect, part of its 100%-owned Root Project in Ontario, Canada.Trading Central has identified a bearish signal on Air New Zealand (ASX:AIZ) following the formation of a pattern over a period of 165-days which is roughly the same amount of time the share price may fall from the close of 69 cents to the range of 59 to 61 cents according to standard principles of technical analysis.

Wall St closed modestly higher on Tuesday as investors await inflation data and the Federal Reserve’s policy meeting outcome on the rate hike front next week. The S&P500 added 0.24% trading near a nine-month high, while the Nasdaq added 0.36% and the Dow Jones closed just 0.03% higher on Tuesday.The 3-day ASX rally ended yesterday with the key index closing 1.20% lower as investors responded to the RBA rate hike announcement of a 25-basis point hike for June, in addition to RBA governor Philip Lowe flagging ‘further tightening of monetary policy may be required to ensure that inflation returns to the target 2-3% range in a reasonable timeframe’. The nation’s cash rate now sits at an 11.5 year high of 4.1% for June and is up 400-basis points since the RBA began raising rates last May.The key drivers of the interest rate hike surround the tight labour market, low unemployment, which moved higher in April, and wages growth compared to low productivity output, which accelerated to a decade-high in the March quarter.Dr Lowe said recent data indicated upside risks to the inflation outlook notably labour costs are rising ‘briskly’ with ‘growth in the public sector wages expected to pick up further and the annual increase in award wages was higher than it was last year’. While majority of economists were expecting a pause in the cash rate for June, some lifted their call to expect the hike on Friday last week after the Fair Work Commission announced a 5.75% raise in minimum wages, and CPI data last Wednesday came in hotter than expected. For those with a variable interest home loan, you’ll unfortunately feel a heavy brunt of this rate hike if/when the banks pass it on in full to loan customers, with the average loan of $500,000 incurring a $76 increase in monthly repayments after this rate hike, taking the total monthly increase to $1134 since the RBA began raising rates last May.Retail spend has come down as the high cost of living pressures begin to bite, which is taking impact on Consumer discretionary stocks as the sector led the losses on the ASX yesterday. Stocks in this sector face some of the toughest headwinds from rate hike announcements with cost-of-living pressures depleting consumer demand for discretionary goods. Baby Bunting plunged over 23% on Tuesday after the infant goods retailer released a trading update and downgraded guidance amid muted sales growth.Investors only bought into Utilities stocks yesterday given their defensive nature, meaning people still need the services such companies provide during all phases of the business cycle. On the commodities front this morning, oil is trading 0.81% lower at US$71.57/ barrel, gold is up 0.11% at US$1963/ounce and iron ore is up 2.84% at US$108.50/tonne. Iron ore hit a six-week high on Monday as the price rally this week has been sparked by hopes of a policy introduction in China through new measures to support the country’s property market.What to watch today:Ahead of the local trading session here in Australia, the SPI futures are anticipating the ASX to open 0.34% higher.Taking a look at economic data out today, Australia’s GDP growth rate for Q1 is out just after midday with consensus expecting growth of 0.3% for Q1, down from a 0.5% expansion in Q4, which will mean the 6th consecutive period of economic growth but at a slower pace than prior expansions.Trading Ideas:Bell Potter has reduced the price target on Adacel Technologies (ASX:ADA) from 85 cps to 80 cps and maintain a buy rating on the leading global provider of simulation and control systems for the civil aviation and defence sectors, due to the company announcing two new contract wins but downgrading its FY23 guidance given one of the contracts was awarded later than expected and also delays in the finalisation of a contract renewal.

US equities closed in the red in New York overnight, with the Dow Jones closing 0.6% lower and the S&P500 slightly down 0.2%, as industrials and financials led seven of the eleven industry sectors lower. The Nasdaq was down only 0.09%. US markets eased after Friday’s broad-based rally. In Europe, markets also closed lower as investors digested the US debt ceiling agreement and euro zone inflation data, which showed inflation falling to its lowest level since February 2022. The STOXX 600 closed 0.5% in the red, following muted trading for most of the trading session. Oil and gas stocks were down the most, despite oil prices remaining in positive territory. Travel and leisure stocks were also lower. What to watch today:The SPI futures are suggesting that our local market will drop 0.57% at the open this morning, following the broad decline across global markets overnight. In economic news today, the RBA will announce its cash rate decision. The consensus is that central bank will hold the cash rate at 3.85% this month. The GDP growth rate is not announced until tomorrow, so that may be contributing to the market expectations, waiting to see what GDP comes in at before announcing further hikes. And in commodities, Oil prices were trading more than 1% higher, as expectations of lower supply outweighed concerns over slowing demand. Gold is in the green following a modest weakening of the US dollar and a slight decline in US Treasury yields. This followed weak eco data in the US that reinforced the view that the Fed will pause the tightening cycle next week. And iron ore is also higher, recovering after hitting a 6-month low. Trading Ideas:Bell Potter maintains a buy rating on Bega Cheese (ASX:BGA) after reviewing Bega opening farmgate agreements across all geographics, to derive a net movement in estimated FY24 farmgate costs relative to FY23 estimates. Bell Potter’s price target remains unchanged at $4.10, and at BGA’s current share price of $3.59, this implies 14.2% share price growth in a year. Bell Potter also maintains a Speculative buy rating on Frontier Digital Ventures (ASX:FDV) following an amended Subscription Agreement regarding the acquisitions of FDV portfolio companies and InfoCasas. They have lowered their valuation from $1.05 to $0.89, and at the stock’s current share price of $0.36, this implies 147.2% share price growth in a year. 

Wall St ended Friday’s session on a high, with the key indices each adding over 1% and the Dow Jones jumping 2.1% as investors welcomed a mixed payrolls report with an unexpected rise in unemployment and a slowdown in annual wage growth, all signs that the Federal Reserve’s aggressive rate hike action is taking effect on cooling economic growth in the US. In May, the US economy added 339,000 jobs in a sign that the booming labour market in the US remains strong, however unemployment increased to 3.7% from 3.4% which was one of the fastest increases in unemployment since early in the pandemic. Some of the increase in unemployment could be driven by mass layoffs in the technology sector that have seen over 200,000 workers lose their jobs this year across the big and smaller tech names.Over in Europe, markets closed higher on Friday as investors responded to US lawmakers passing a bill to raise the US debt ceiling and cap government spending for 2-years, just days before the potential default deadline date. The STOXX600 rose 1.5% led by mining, oil and gas stocks all rallying. Germany’s DAX rose 1.25% on Friday, the French CAC added 1.87% and, in the UK, the FTSE100 rose 1.56%.OPEC+, a group of global oil producers, met in Vienna on Sunday to discuss output policy to stabilise oil prices which have been battered down in recent times by weakened demand out of China. At the meeting on Sunday, OPEC+ reached an agreement to extend output cuts announced in April this year of 1 million barrels per day into 2024 amid price instability of recent times and the potential for excess supply.On the local index, Friday’s trading session ended the week on a positive note as the ASX closed 0.48% higher on the last trading session of the week, buoyed by a sharp rally for materials stocks on a rise in the price of iron ore. Consumer staples and health care stocks were the sectors that underperformed the local market on Friday.What to watch today:Ahead of the local trading session, the SPI futures are anticipating the ASX to open the first trading session of the week up 1.06% on the back of the global rally that ended last week on a positive note.On the commodities front this morning, crude oil is trading 3.31% higher at US$74.10/barrel, uranium is up 1.87% at US$54.60/pound, gold is up 0.11% at US$1949.63/ounce and iron ore is up almost 1% at US$105.50/tonne.On the foreign exchange front, AU$1.00 is buying, US$0.66, 92.51 Japanese Yen, 53.17 British Pence and NZ$1.09.Taking a look at economic data, Germany’s trade balance data is released today for April with the market expecting a decline in trade surplus to 15.1bn euros from 16.7 billion euros as the economy entered into a recession in recent weeks.Trading Ideas:Bell Potter has increased the price target on Wisetech Global (ASX:WTC) from $60 to $74.25 and maintain a hold rating on the leading global provider of logistics software solutions following increased growth outlook for the company on the back of assumed greater penetration or success in both customs and compliance and landside logistics markets. This follows the announcement of a global customs rollout with Kuehne Nagel – the largest sea-freight forwarder in the world, and the acquisition of two landside logistics companies this half.And Trading Central has identified a bullish signal on Reece (ASX:REH) following the formation of a pattern over a period of 34-days which is roughly the same amount of time the share price may rise from the close of $18.32 to the range of $19.15 to $19.35 according to standard principles of technical analysis.

Well markets rebounded overnight, after falling the session prior. On Wall Street, all three major benchmarks closed in positive territory. The Nasdaq and the S&P500 closed at their highest levels since August, up 1.28% and 1% respectively, while the Dow Jones gained 0.47%. The rally was off the back of the bill to raise the debt limit and cap government spending being passed in the House by a wide margin late Wednesday in the US, sending the bill to the Senate only days before Monday’s default deadline. European markets also rallied, after having hit a two-month low. The STOXX 600 closed 0.8% higher, as almost all sectors gained. Mining stocks rose after Chinese factory activity beat expectations. Media stocks were also up, while household goods closed lower. What to watch today:The SPI futures are suggesting that our local market will rise 0.66% at the open this morning. Local economic news out today includes home loan data for May, while tonight in the US the unemployment rate will be announced. In commodities, Oil is on the rise, currently trading more than 3% higher, recovering from earlier losses after touching a two-month low in the previous session, supported by a weaker US dollar and market relief, following the US debt ceiling negotiations. Also, OPEC+ is meeting this week, so markets are awaiting potential price-supportive measures. Natural gas has fallen to the lowest level in four weeks, driven by record US output, increased gas exports from Canada as well as a higher-than-expected storage build last week. The gold price is higher, while iron ore is holding close to a six-month low. Trading Ideas:Bell Potter maintain a Buy rating on AROA Biosurgery (ASX:ARX), a commercial stage medical device company that operates within the complex wound care and soft tissue reconstruction sector. They reported positive FY23 results, with revenue and EBITDA improvements. The FY23 performance was within guidance and largely in-line with Bell Potters forecasts. The price target is $1.45, and at the stock’s current share price of $0.92, this implies 58.5% share price growth in a year. And Trading Central identified a bullish signal in Pro Medicus (ASX:PME) indicating that the stock price may rise from the close of $61.65 to the range of $64.20 to $64.70 over 22 days, according to the standard principles of technical analysis.  

European markets tumbled as concerns remained over the US debt ceiling bill ahead of the deadline of June 5th. German inflation data will also be out tonight as well as a euro zone flash reading. Additionally, investors are weighing China’s manufacturing PMI data, that declined for the second straight month and at a faster rate than expected. The STOXX 600 closed the session down 1.1%, with all sectors in negative territory. Auto stocks led the losses, followed by chemicals stocks. Over in New York, US equities also declined overnight. The Dow Jones fell 0.4%, the S&P500 down 0.6% and the tech heavy Nasdaq also down 0.6%.The close also marked the end of the May trading month, which saw the Nasdaq finish the month 5.8% higher, boosted by artificial intelligence-related stocks. The S&P500 added 0.3% in the month, while the Dow fell 3.5%. What to watch today:Following global markets overnight, the SPI futures are suggesting our local market will drop 0.18% at the open this morning. In commodities, Oil has sharply fallen, now trading around US$68 a barrel, extending the monthly loss for May to nearly 11%. The decline is due to concerns surrounding a slowdown in demand, mainly from China, the top crude importer. So keep watch of energy producers such as Beach Energy (ASX:BPT) and Santos (ASX:STO). The gold price steadied overnight, so gold shares could have a decent run today. As market volatility leads to increased demand for the safe haven asset, its worth keeping your eye on Evolution Mining (ASX:EVN), Gold Road Resources (ASX:GOR), Regis Resources (ASX:RRL) and other gold stocks. And the price of iron ore is also down, now trading at US$103.50 per tonne, holding close to a six-month low, amid evidence of low demand and strong supply. In economic data, today we’ll receive retail sales data for Retail Sales data for April and Private Capital Expenditure data for Q1. Trading Ideas:Bell Potter maintain their buy rating on IVE Group (ASX:IGL) with a price target of $3.00. They are the largest integrated marketing communications business in Australia with leading market positions across every sector in which the company operates. The company has been caught up in the recent broad sell-off of retailers following some soft trading updates, such as City Chic and Super Retail, as well as concern around reduced spending. Bell Potter have updated each valuation used in the determination of their price target for market movements and time creep, but overall, there is no change in the $3.00 price target. At the current share price of $2.28, this implies 31.6% share price growth in a year. And Trading Central have identified a bearish signal in Lindsay Australia (ASX:LAU) indicating that the stock price may fall from the close of $1.25 to the range of $1.11 to $1.15 over 31 days, according to the standard principles of technical analysis. 

It was a very muted session on the ASX yesterday as the market quickly overcame the boost from US debt ceiling negotiations ending in an agreement to be presented to congress, and investors shifted focus ahead to next week’s rate hike decision out of the RBA and the potential for inflation to remain stickier down under for a little while longer.The ASX fell 0.11% on Tuesday weighed down by a 0.88% fall in the REIT sector, while communications services stocks rose 0.62%.Paladin Energy tanked over 20% on Tuesday before being put into a trading halt as investors fled the uranium miner on rumours that Namibia may follow the Chilean government move to nationalise some mining assets. Paladin’s Langer Heinrich Mine is in Namibia which is why investors fled the stock yesterday. The sell-off in miners with operations in South Africa extended to Syrah Resources who’s Balama Graphite operation is in Mozambique which is in the same region as Namibia. AUSTRAC and embattled casino giant Crown proposed an agreed $450m penalty to Crown to cover breaches of anti-money laundering laws at the company’s Melbourne and Perth casinos. The matter will be heard in court on July 10 to July 11. On the economic data front yesterday, building approvals in Australia sunk 8.1% month-on-month in April and down 25.5% year-on-year, with private sector houses down 3.8%. The market was expecting a rise of 2%, but the sharp decline of 8.1% takes approvals for new home builds to the lowest level in 11-years, in a sign that appetite for building investment properties remains weak and will continue dragging on the economy.Over in the US, stocks rallied in the early hours of trade as investor sentiment was high following the initial agreement being reached over the debt ceiling crisis. Tech stocks were the top performers led by an AI stock rally after Nvidia became the first chipmaker to join the trillion-dollar market capitalisation club last week. In afternoon trade the key indices pulled back as investors kept a close eye on the Fed’s debt ceiling debates and also on the outlook potential for another rate hike out of the Federal Reserve next month, with the Dow Jones closing Tuesday’s session 0.1% lower, while the S&P500 closed flat and the tech-heavy Nasdaq rose 0.3%.What to watch today:Ahead of the local trading session here in Australia the SPI futures are anticipating the local index to open 0.5% lower on dampened global sentiment over the passing of the debt ceiling through congress.On the commodities front this morning, oil has plunged 4.47% to trade at US$67.73/barrel ahead of OPEC+s meeting this Sunday and amid the US debt ceiling saga. Gold is up 0.81% at US$1958.61/ounce and iron ore is up 2.45% at US$104.50/tonne.AU$1.00 is buying US$0.65 cents, 91.81 Japanese Yen, 52.95 British Pence and NZ$1.08Trading Ideas:Bell Potter has increased the price target on Clarity Pharmaceuticals (ASX:CU6) from $1.35 to $1.40 and maintain a speculative buy rating on the clinical stage radiopharmaceutical company following a report out of the company on progress in its latest clinical trial investing the use of its proprietary radiopharmaceutical for the treatment of metastatic castrate resistant prostate cancer. The update outlined Cohort 1 dosed 6 patients and the treatment was well tolerated, and Cohort 2 will now commence at a higher dose of the treatment.Trading Central identified a bullish signal on Service Stream (ASX:SSM) on the 30th of May following the formation of a pattern over a period of 16-days which is roughly the same amount of time the share price may rise from the close of $0.64 to the range of $0.73 to $0.75 according to standard principles of technical analysis.

The ASX started the week on a very positive note after a late-night phone call on Saturday between US President Joe Biden and House Speaker Kevin McCarthy ended the months-long debt ceiling negotiations with a compromised, tentative outcome being agreed to. The US was just under 2-weeks away from running out of money to pay its bills according to Treasury Secretary Janet Yellen, so the last-minute dash to achieve an outcome to present to congress for passing has boosted sentiment in global markets to start the new trading week higher. The deal still must pass through congress but at least gives the parties a few years of buffer before these negotiations start again.The ASX rose 0.88% to start the new trading week on a positive note with the debt ceiling agreement being the key driver of the ASX rallying. The debt ceiling agreement also sparked a rally for commodity prices too with oil up 0.67% to US$73.16/barrel and iron ore up 3.55% to US$102/tonne on positive demand outlook now the debt ceiling agreement has been reached. Real Estate stocks led the gains yesterday adding almost 2% on eased fears of global economic turmoil resulting from the lifting of the US debt ceiling, while materials stocks rose 1.62% and financials added almost 1.4% to start the week. The only sector that closed lower yesterday was consumer discretionary stocks. The debt ceiling agreement being reached doesn’t rule out a recession soon for the world’s largest economy, with analysts’ still factoring in a 68% chance of the US heading into a recession in Q3. Locally, the pressure is mounting for embattled accounting and consulting giant PwC Australia as the company directed nine senior partners to go on leave effective immediately following the company’s CEO, Tom Seymour, resigning over the tax law leaks three weeks ago. Acting PwC CEO Kristin Stubbins has issued an apology on behalf of the firm for sharing confidential government tax policy information and betraying the trust placed in the company. The scandal involves dozens of PwC partners receiving emails related to plans to use confidential government tax policy information in a bid to win new clients. And WA Premier Mark McGowan announced his shock resignation yesterday which may have some impact on the market in coming months as we assess how his successor takes forward or changes McGowan made especially in the mining sector.US markets were closed on Monday for the Memorial Day holiday, but the expectation is for a rally on Tuesday in the US as investors respond to the debt ceiling negotiation agreement being reached. In Europe overnight, markets closed lower in the region as investors now shift focus to future rate hikes expected out of the European Central Bank and Bank of England, both of which were expected to pause and look to pivot before recent economic data complicated the outlook. Germany’s DAX fell 0.2% while the French CAC lost 0.21%. The UK market was also closed on Monday for the Late May bank holiday.What to watch today:Ahead of the local trading session here in Australia, the SPI futures are anticipating the local market to open 0.11% lower as global investors shift focus to rate hike outlook out of the key central banks in months to come.On the commodities front this morning, oil is trading 0.67% higher at US$73.15/barrel, gold is down 0.16% at US$1943.12/ounce and iron ore is up 3.55% at US$102/tonne.AU$1.00 is buying US$0.65, 91.81 Japanese Yen, 52.95 British Pence and NZ$1.08.Trading Ideas:Bell Potter has increased the price target on Catapult Group (ASX:CAT) from $1.00 to $1.20 and maintain a buy rating on the leading global provider of elite athlete wearing tracking solutions company following the release of Catapult’s FY23 results including wearables growing strong up 17% and the outlook for continual development of an advanced video analysis or insights tool called MatchTracker, which

US markets are set to rally on Monday following the conclusion of a length negotiations process over raising the U.S. debt ceiling which finally concluded on Saturday (US time). Stocks in the US rallied on Friday as investors grew hopeful of an outcome in the debt ceiling negotiations between President Biden and House Speaker Kevin McCarthy. The Dow Jones rose 1%, the S&P500 added 1.3%, and the tech-heavy Nasdaq rallied 2.2%. On Saturday night in the US, President Biden and Kevin McCarthy held a 90-minute-long phone call to discuss the deal where a compromise was reached and an agreement in principle has been decided. House speaker Kevin McCarthy expects congress to pass the debt deal, which is called a compromise and is good for the country because according to Biden, ‘it prevents what could have been a catastrophic default and would have led to an economic recession, retirement accounts devastates and millions of jobs lost’.And over in Europe, markets closed higher as investors looked ahead to a crucial weekend for the U.S. debt ceiling negotiations. Technology stocks in the region rallied late in the week following the release of chipmaker Nvidia’s strong results. Germany’s DAX rose 1.2% on Friday, the French CAC rose 1.24% and, in the UK, the FTSE100 added 0.74%.The local index closed 0.23% higher on Friday, buoyed by a rally for technology stocks, also on the back of Nvidia’s strong results which fuelled a rally for tech stocks around the world. Investor appetite is also growing for technology stocks as rate hike pauses and potential cuts are on the horizon in the future. Materials stocks also had a strong end to the week with the sector rising 0.93% on Friday on a solid rebound in the price of iron ore which has been slammed lately on weakened demand outlook out of China.What to watch today:Ahead of the local trading session here in Australia, the SPI futures are anticipating the ASX to open almost 1% higher, driven by a boost in sentiment as debt ceiling negotiations come to a close.On the commodities front this morning, oil is trading 0.86% higher at US$73.32/barrel, coal is flat at US$160/tonne, gold is up 0.14% at US$1943/ounce and iron ore is up 3.55% at US$102/tonne.Stocks trading ex-dividend today include Dalrymple Bay Infrastructure and Infratil. If you’ve been thinking about these stocks it might be worth considering buying in today as stocks trading ex-dividend generally trade lower on the ex-dividend date.AU$1.00 is buying US$0.65, 91.83 Japanese Yen, 52.8 British Pence and NZ$1.08.Trading Ideas:Bell Potter has decreased the price target on Eagers Automotive (ASX:APE) from $15.25 to $15 but maintain a buy rating on the leading automotive retailer following the release of the company’s trading update at its AGM which was slightly below Bell Potter expectations with underlying NPAT before tax for the first four months of the year only in line with the PCP. Bell Potter expects a stronger H2 due to further improvement in deliveries from the big three – Toyota, Mitsubishi and Mazda as well as BYD.Trading Central has identified a bullish signal on APM Human Services International (ASX:APM) following the formation of a pattern over a period of 17-days which is roughly the same amount time the share price may rise from the close of $2.04 to $2.14 to $2.18 according to standard principles of technical analysis.

The Aussie share market declined 1.94% (Mon-Thu), as a sharp sell-off in materials stocks on the back of lower iron ore prices due to weakened demand from China's steel mills.In this week's wrap, Grady covers:(0:11) Cost-of-living pressures in Australia(0:39) Why income stocks are gaining attention(1:19) Bell Direct's Strategy Builder(2:13) High dividend stock selection(4:11) The best performing companies in the ASX200(5:02) The most traded stocks & ETFs by Bell Direct clients(5:36) Three economic news items to watch out forRead the transcript here.

In New York overnight, US equities closed mixed, as investors watch for debt ceiling updates. While the Dow Jones closed 0.11% lower, the S&P500 gained 0.9% and the Nasdaq advanced 1.7%. European markets ended lower. The benchmark Stoxx 600 finished 0.24% lower after a choppy day, weighed down the most by oil and gas stocks, down around 2%. What to watch today:The Australian market is set to open lower this morning, with the SPI futures suggesting a drop of 0.08%. As for companies to watch today, Fisher & Paykel Healthcare (ASX:FPH) will be releasing its earnings report today, and InvoCare (ASX:IVC) will hold its AGM today. In commodities, Oil prices have sharply fallen, ending a three-day winning streak, after the Russian Deputy Prime Minister ruled out additional production cuts by OPEC+. The Gold price is hovering at around US$1,941 an ounce, levels not seen in over two months, pressured by a rise in Treasury yields and the US dollar. Traders are also monitoring the ongoing debt ceiling conversations and the likelihood of prolonged higher interest rates. Iron ore is lower with reduced steel production in China and a decrease in supply disruptions. Trading Ideas:Bell Potter maintains their Buy rating on Eagers Automotive (ASX:APE), after the company provided a trading update at its AGM which was slightly below Bell Potter’s expectations, with underlying net profit before tax for the first four months of the year only in line with the PCP. Bell Potter had been expecting some growth, but the first half has been negatively impacted by a number of issues including lower deliveries on key brands (e.g. Toyota, Mitsubishi and Mazda), two wet weather events in New Zealand and some cost pressies such as interest costs on inventory. Trading Central have identified a bullish signal in Lendlease Group (ASX:LLC), indicating that the stock price may rise from the close of $7.77 to the range of $8.60 to $8.75 over 8 days, according to the standard principles of technical analysis. 

Wall St closed the midweek session lower, extending the debt ceiling talks-related sell off into Wednesday as another day passed and no set plan has been decided, which investors take as a sign of concern. House Speaker Kevin McCarthy said at a press conference late on Wednesday morning that negotiators remain at odds over a debt ceiling outcome. The US FOMC meeting minutes were also released in the early hours of this morning, outlining that the members are split on the need for the Fed to further raise interest rates in the future, which also weighed on investor sentiment in the US through afternoon trade. The Dow Jones closed 0.77% lower, the S&P500 fell 0.73% and the tech-heavy Nasdaq lost 0.61% lower on Wednesday.Over in Europe, markets also closed lower again as investors see stalls in US debt ceiling negotiations as a concern ahead of the looming June 1 possible default date according to Treasury Secretary Janet Yellen. Germany’s DAX fell almost 2%, the French CAC lost 1.7% and, in the UK, the FTSE100 fell 1.75% on Wednesday. UK inflation data out overnight showed a decline from 10.1% year-on-year in March to 8.7% year-on-year in April, which shows signs of cooling but was above economists expectations of a drop to 8.2%.The local market extended its red run into Wednesday as investors sold out of materials stocks on the back of concerns surrounding weaker demand out of China’s steel mills causing a decline in the price of iron ore. Healthcare stocks also fell 1.13% on Wednesday, while energy stocks rose 0.7% on the price of oil rising 1.76%. Consumer discretionary stocks also took a hit on Wednesday over concerns of mounting demand headwinds signalled by Universal Stores which caused a 24% plunge in the retailers’ share price.What to watch today:Ahead of the local trading session the SPI futures are anticipating the local market to open 0.43% lower as the debt ceiling driven sell-off continues around global markets.On the commodities front this morning oil remains strong, up 1.81% at US$74.23/barrel, coal is down 0.22% at US$160/tonne, gold is down 0.88% at US$1958/ounce and iron ore is down 2.83% at US$103/tonne.One Aussie dollar is buying US$0.65, 91.19 Japanese Yen, 52.86 British Pence, and NZ$1.07.Trading Ideas:Bell Potter has downgraded its price target on EROAD (ASX:ERD) from $1.50 to $1.25 but maintain a buy rating on the fleet management technology company following the release of the company’s FY23 result which was in line with Bell Potter forecasts if not better in some metrics. The downgrade in price target comes amid the company’s EBIT loss of NZ$4.5m coming in larger than Bell Potter expectations of NZ$4.4m, and as a result Bell Potter has modestly adjusted forecasts for the company heading into FY24 and beyond.Trading Central has identified a bearish signal on Super Retail Group (ASX:SUL) following the formation of a pattern over a period of 70-days which is roughly the same amount of time the share price may fall from the close of $11.90 to the range of $9.90 to $10.30 according to standard principles of technical analysis.

Wall Street closed lower on Tuesday as negotiations over the debt ceiling appear to be making little progress. Monday’s meeting between President Biden and House Speaker Kevin McCarthy was productive with President Biden saying a default was off the table, however no set resolution has been decided yet. The S&P500 dropped 1.12%, the Dow Jones fell 0.69% and the tech-heavy Nasdaq lost 1.26%. And in Europe, markets closed lower on Tuesday as investors in the region also keep a close eye on US debt ceiling negotiations, whereby talks continue with no clear resolution in check yet. The local market had a lacklustre session yesterday as a more than 1% loss in the consumer discretionary sector offset strong gains for financial and real estate stocks. Markets have been moving over the last week in line with progress and lack there of negotiations in debt ceiling talks between US President Joe Biden and House Speaker Kevin McCarthy. As negotiations on Tuesday were inconclusive, investor optimism took a slide and caused the negative end to a lacklustre session on the ASX. Qantas shares dipped over 2% on Tuesday despite the flying kangaroo forecasting it would reach up to $2.5bn in pre-tax profit for the 2023 financial year. Investor sentiment in the airline was shaken by the warning that softening fuel prices would put downward pressure on airfares, which in-term will cause a reduction in margins for Qantas. There is also more capacity coming online post-pandemic both through Qantas’ new fleet and as international carriers ramp up operations back into Australia, which will also contribute to the downward pressure on Qantas airfares in the highly competitive market.What to watch today:Ahead of the local trading session here in Australia, the SPI futures are anticipating the ASX to open the midweek session almost half a percent lower on the back of the global market sell-off overnight as debt ceiling negotiations push on.On the commodities front this morning, oil is trading 1.01% higher at US$72.77/barrel following a sharp decline earlier this week amid weakened demand fears out of China as the country’s emergence out ofCOVID-19 lockdowns has been much weaker than expected. Gold is up 0.34% at US$1976.08/ounce and iron ore is down 2.3% at US$106/tonne.Taking a look at economic data out today, UK inflation rate data for April is released at 5pm AEST with consensus expecting a decline to 8.2% from 10.1% in March, in a sign the Bank of England’s rate hikes are taking effect on cooling inflation in the UK.AU$1.00 is buying US$0.66, 91.55 Japanese Yen, 53.47 British Pence and NZ$1.06.Stocks trading ex-dividend today include Orica (ASX:ORI), Nufarm (ASX:NUF) and Aristocrat Leisure (ASX:ALL). If you’ve been thinking about these stocks, it might be worth considering buying in today as stocks trading ex-dividend generally trade lower on the ex-dividend date.Trading Ideas:Bell Potter has decreased the price target on IDP Education (ASX:IEL) from $30.45 to $30.00 and maintain a hold rating on the global education services provider following the company announcing the acquisition of UK-based technology company The Ambassador Platform in a deal worth $16.8m which IDP will fund through its existing cash balance. The slight decrease in price target comes off the back of the acquisition with factoring in the total consideration for the acquisition of 9 million pounds or the equivalent of $16.8m Aussie dollars.Trading Central has identified a bullish signal on APM Human Services International (ASX:APM) following the formation of a pattern over a period of 16-days which is roughly the same amount of time the share price may rise from the close of $1.95 to the range of $2.05-$2.07 according to standard principles of technical analysis.

It was a mixed session on Wall Street overnight as investors focus ahead to the pivotal debt ceiling negotiation talks at 5:30pm on Monday evening in the U.S. where President Biden will meet again with house speaker Kevin McCarthy to continue debt ceiling talks with just 10-days left until the earliest date that Treasury Secretary Janet Yellen said the US could default. The S&P500 rose 0.02% on Monday, the Dow Jones fell 0.42% and the tech-heavy Nasdaq rose 0.5%. Reporting season is coming to an end, but investors are still awaiting the release of first quarter earnings results out of Zoom Video, and Lowe’s. The US has also agreed to back the development of Australia’s critical minerals industry after the two country’s agreed to coordinate policies and investment to support the industry’s growth. This is a major deal for Australia’s local miners and producers as Australia supplies around half of the world’s lithium and other minerals like rare earths.Over in Europe, markets closed mixed as investors in the region await key signs of progress toward raising the U.S. debt ceiling to avoid the catastrophic potential outcome of defaulting on debts. In Greece, the Athens General Composite Index soared 7% on Monday after the New Democracy, ruling Conservative Party, secured a firm lead in the elections on Sunday. Germany’s DAX fell 0.32% on Monday after closing at a record high on Friday, while the French CAC fell 0.18% but, in the UK, the FTSE100 rose 0.18%.The local market closed the first trading session of the week 0.22% lower, weighed down by investors selling out of real estate and communication services stocks, which offset a 1.5% rally for the tech sector. Tyro Payments (ASX:TYR) tanked over 16% on Monday after Potentia Capital walked away from takeover talks with the payments company following Potentia’s completion of due diligence into Tyro. New regulations in the buy now, pay later sector also sent shockwaves through the share prices of key players like Zip Co (ASX:ZIP) and Block (ASX:SQ2), parent company of Afterpay. The regulations set to be imposed on the BNPL providers will include tougher requirements for credit checking to avoid consumers taking on unaffordable debt through use of the pay later options.What to watch today:Ahead of the local trading session here in Australia, the SPI futures are expecting the local market to open 0.07% higher.On the commodities front this morning, oil continued its decline into a third day on Monday as investors continue to assess the stop-start negotiations underway in the US over the debt ceiling crisis. Investors are concerned about the impact the pending debt ceiling outcome will have on energy demand from China’s lacklustre economic recovery, in addition to the possibility of a recession in the US. Oil has rebounded this morning to trade 0.64% higher at US$72.15/barrel. Gold is trading 0.22% lower at US$1972.14/ounce and iron ore is down 1.81% at US$108.50/tonne.AU$1.00 is buying US$0.67, 92.16 Japanese Yen, 0.53 British Pence and NZ$1.06.Stocks trading ex-dividend today include Amcor (ASX:AMC) and Elders (ASX:ELD). If you’ve been thinking about these stocks, it might be worth considering buying in today as stocks trading ex-dividend generally trade lower on the ex-dividend date.Trading Ideas:Bell Potter has increased the rating on AFT Pharma (ASX:AFP) from a hold to a buy and have increased the price target on the drug development company from $3.16 to $4 following the release of the company’s FY23 results including a 27% increase in product sales revenue to $156.5 million and a 180 basis points increase in gross profit margin to 46.3%. The company also has a short-term catalyst in October 2023 in the upcoming approval date for Maxigesic IV (4) in the US where commercial launch triggers a $6 million milestone.Trading Central has identified a bearish signal on Magell

The Aussie share market advanced 0.44% this week (Mon-Thu), led by the energy sector gaining almost 2% and the information technology sector adding 1.97%. Investors have regained appetite for technology stocks as inflation eases in the US.In this week's wrap, Grady covers the:(0:17) US debt debate and important next steps(1:40) Bank of England's rate hike decision (2:17) Healthcare sector movers and shakers(4:22) Best performing stocks in the ASX200(5:29) Most traded stocks & ETFs by Bell Direct clients(6:01) Three economic news items to watch out for 

On Wall Street overnight, US equities closed mixed. While the Nasdaq closed the higher, the Dow Jones closed more than 200 points lower, or 0.66%, the fourth straight day of losses, and the S&P500 dropped 0.17%. The major benchmarks were dragged down my Disney shares falling 8% the day after the media giant released its fiscal second-quarter results. The results showed that higher prices helped to narrow Disney’s losses, however subscriber growth was significantly lower. Disney is also taking on impairment charges of US$1.5 to US$1.8 billion, as the company removes more content from its streaming platforms. Also overnight, the producer price index in the US, which is measuring wholesale prices, increased very slightly by 0.2% in April. This PPI data followed the consumer price index report out earlier this week, which showed that US inflation rose 4.9% from a year ago, which was below expectations. European markets closed marginally lower, following the Bank of England’s interest rate hike, which was a 25-basis point hike to 4.5%. The announcement is in line with expectations in the UK, and is the 12th consecutive rate increase. What to watch today:Following global markets overnight, the Australian market is set to open lower this morning, with the SPI futures suggesting a fall of 0.11%. In economic data today, Westpac’s consumer confidence data for May will be out at 11:30am AEST. Consumer confidence is expected to fall by 4.3% this month, after it rose by 9.4% in April to its highest since June last year. As for company announcements to watch out for today, News Corp (ASX:NWS) and REA Group (ASX:REA) are set to release quarterly earnings. And Ampol (ASX:ALD) and QBE Insurance (ASX:QBE) will hold their AGMs today. In commodities, Oil prices are lower, amid persistent demand concerns. Silver has sharply declined, retreating from a 14-month high as concerns of lower industrial demand outweighed the Fed’s dovish outlook. Copper is trading at its lowest level in four months, as low demand outweighed tight supply, and as the reopening of the Chinese economy has not lived up to expectations of a sharper recovery. And iron ore is currently flat, after rebounding from the five-month low touched last week on hopes that demand could pick up in the second quarter. Trading Ideas:Bell Potter maintains its buy rating on Neuren (ASX:NEU) and have increased their 12-month price target from $13.67 to $16.50. At NEU’s current share price of $13.37, this implies 23.4% share price growth in a year. Trading Central has identified a bearish signal in South32 (ASX:S32), indicating that the stock price may fall from the close of $4.06 to the range of $3.50 to $3.60 over 13 days, according to the standard principles of technical analysis. Next week, we’ll be brining you the Morning Bell in written format, while we are travelling for conferences, so keep an eye on Bell Direct’s social media platforms for our market commentary. 

Wall Street closed mixed on Wednesday after US inflation data for April was released showing the CPI rose 4.9%, the lowest level since April 2021, which was also lower than economists’ expectations of a 5% rise. The reading remains above the Fed’s target zone however is a sign that that aggressive rate hike strategy so far, but the fed is starting to have an effect in cooling economic growth. Over in Europe, markets closed lower as investors in the region digested the latest inflation report out of the U.S. Technology stocks in Europe rose as investors in the region, like in the U.S., saw the inflation reading as a positive sign for high growth stocks, while investors also await an interest rate decision out of the Bank of England today, which is expected to be a 12th consecutive rate hike.The local market closed 0.12% lower on Wednesday, as a near 1% rise for healthcare stocks was offset by losses in the financials and communication services sectors. Healthcare stocks were boosted by the release of the Australian Budget on Tuesday with the inclusion of through $3.5bn to triple the bulk-billing incentive that GPs receive, and hundreds of millions to better coordinate healthcare through digitisation of records and increasing Medicare rebates. The government has also promised $263.8m over 4-years for a new lung cancer screening program, $113 million for the National Immunisation Program, and $445.1m for the Workforce Incentive Program to help practices employ nurses and other health professionals.The local financial sector had a lacklustre Wednesday possibly due to a few reasons. Firstly, National Australia Bank (ASX:NAB) and Bank of Queensland (ASX:BOQ) went ex-dividend yesterday, which generally means the stock will trade lower on the ex-dividend date. Westpac (ASX:WBC) goes ex-dividend today and ANZ Group (ASX:ANZ) trades ex-dividend on the 15th May so we might see some slides in their respective share prices on those key dates.What to watch today:On the commodities front this morning, oil is trading 1.24% lower at US$72.80/barrel, gold is down just 0.24% at US$2029/ounce and iron ore is flat at US$107/tonne.On the economic data front today, Westpac Consumer Confidence data for May is released with the market expecting a decline from 85.8 points in April to 82.1 points in May amid ongoing rate hikes out of the RBA and tough economic conditions. China’s inflation rate data for April is also released today with consensus expecting a decline to 0.4% from 0.7% in March. And the Bank of England will release its interest rate decision, with the market expecting a 25-basis point rate hike to be announced.The Aussie dollar is buying US$0.68, 91.07 Japanese Yen, 53.6 British Pence and NZ$1.06.Stocks trading ex-dividend today include Westpac Banking Corporation and Challenger. If you’ve been thinking about these stocks, it might be worth considering buying in today as stocks trading ex-dividend generally trade lower on the ex-dividend date.Trading Ideas:Bell Potter has decreased its price target on Appen (ASX:APX) from $2.25 to $2.05 and maintain a sell rating on the AI data services tech company after the company released a trading update saying ‘’the challenging external operating and macroeconomic conditions that were notes at the FY22 result have persisted into FY23’ and included results for the first four months of the year of NPAT dropping 24.7% and revenue down 21.4%.Trading Central has identified a bullish signal on Cleanaway Waste Management (ASX:CWY) following the formation of a pattern over a period of 51-days which is roughly the same amount of time the share price may rise from the close of $2.67 to the range of $2.90 to $2.96 according to standard principles of technical analysis.

The all-important Australian budget was released last night in the first surplus for 15 years at a figure of $4.2bn surplus for 2022-2023 and massively reduced budget deficits in the forecasted years to come, with the key winners being aged care workers through receiving a pay increase of 15%, women through cheaper childcare and funding toward boosting the number of women in apprenticeships, and all Aussies through a cost of living package worth $14.6bn. The surplus budget has been driven by high commodity prices, a strong jobs market and a boost in net migration. The big banks have been caught up in a regional-banking fear sell-off over recent weeks and investors have responded negatively to some of the respective quarterly results updates, however for the likes of Westpac the latest results included a 22% jump in profit and the declaration of a 70-cps dividend. Investors have been hawk eyeing the big-banks provisions for doubtful debts which have risen and any declines in net interest margins which for NAB appear to have peaked, with NIM down at 1.77% and Bad and doubtful debts up to $393m, well above consensus expectations. CBA released quarterly results yesterday and despite profits jumping 10% on the PCP to $2.6bn, investors sold out as net interest margin came in 2% lower during the quarter and provisions rose to $5.7bn.Over in the US today stocks closed lower as investors fear turbulence on the regional banking front, in addition to preparing for key inflation data readings out later this week in the form of US CPI and PPI readings. Investors are also keeping a close eye on the US debt ceiling progression. The Dow Jones fell 0.17% the S&P500 lost 0.46% and the tech-heavy Nasdaq fell 0.63% on Tuesday.Investors in the US will be keeping a close eye on debates in the region over the coming weeks around the US debt ceiling, with US Treasury Secretary Janet Yellen saying failure to raise the debt ceiling would result in an economic catastrophe.Over in Europe, markets closed lower as investors look ahead to US inflation data out this week, in addition to lower oil prices and weak Chinese trade data weighing on markets yesterday. Germany’s DAX closed flat, the French CAC fell 0.59% and, in the UK, the FTSE100 fell 0.18%.The local index closed 0.17% lower yesterday, weighed down by a sell-off in real estate stocks possibly due to a number of reasons with investors maybe taking some profits from the rally in the sector last week, or the investor confidence in the sector sliding amid rising interest rates and predictions for an increasing number of defaults on mortgages to come.What to watch today:Ahead of the local trading session the SPI futures are anticipating the ASX to open the midweek session 0.29% lower.On the commodities front this morning, oil is trading 0.51% higher at US$73.53/barrel, gold is up 0.76% at US$2036.69/ounce and iron ore is up 7.54% at US$107/tonne on speculation of additional policy support for China’s economic recovery.The Aussie dollar is buying US$0.68, 91.44 Japanese Yen, 53.96 British Pence and NZ$1.07.Trading Ideas:Bell Potter has downgraded the price target on Aeris Resources (ASX:AIS) from 95 cents per share to 89 cents per share following the release of the precious metal producer’s March quarter results including production of copper falling short of guidance and increased All-In-Sustaining-Costs higher than Bell Potter expected. The company also lowered its copper equivalent production and EBITDA guidance for FY23.Trading Central has identified a bearish signal on Myer (ASX:MYR) following the formation of a pattern over a period of 76-days which is roughly the same amount of time the share price may fall from the close of $0.81 to the range of $0.50 - $0.56 according to standard principles of technical analysis.

In New York overnight, there was little change as investors look ahead to key inflation readings, including April’s consumer price index report. The S&P500 closed with a small gain of 0.05%, the Nasdaq added 0.18% and the 30-stock Dow Jones closed 0.17% lower. European markets closed higher as traders digested rate hikes by the Federal Reserve and the European Central Bank at the end of last week. Traders now look ahead to more corporate earnings, economic data, and a Bank of England rate decision this week. What to watch today:The Australian market is set to open higher this morning, with the SPI futures suggesting a rise of 0.42%. Today watch Commonwealth Bank (ASX:CBA)’s share price movements as they’re set to release their quarterly report. Yesterday, Westpac announced a $4 billion profit from October to March, 22% higher than the corresponding amount from the previous financial year. Coronado Global Resources (ASX:CRN) is also reporting today. In commodities, The price of oil has rebounded further from a one-and-a-half year low on a weaker US dollar, expectations of supply cuts by OPEC and as concerns eased over an economic downturn in the US economy. Gold is also trading higher, recovering some earlier losses from the previous session. Last week, gold reached nearly record highs after the Fed announced the 25-basis point hike. And iron ore is trading at its lowest level in five months, due to evidence of low demand from Chinese steelmakers. Trading Ideas:Bell Potter maintains a BUY rating on Lynas Rare Earths (ASX:LYC) and have increased their price target by 11% to $8.90. At LYC’s current share price of $7.37, this implies 21% share price growth in a year. And Trading Central have identified a bullish signal in Region Group (ASX:RGN) indicating that the stock price may rise from the close of $2.56 to the range of $2.76 to $2.80 over 50 days according to the standard principles of technical analysis. 

It was turbulent week on global markets last week following the announcements of rate hikes across the major global markets which in some cases were expected, while others, like out of the RBA, came as a shock to investors.Wall St rallied on Friday after robust jobs data indicated the economy is faring better than expected despite the Fed’s aggressive rate hike stance to date. April’s job data for the US showed jobs growth accelerated by 253,000 new jobs in April, unemployment fell to 3.4% and wage gains increased solidly regional banks felt some much-needed relief across the US on Friday on analysts’ upgrading a number of banks believed to have been oversold. PacWest Bankcorp soared almost 82% while Western Alliance jumped 49.2%. Apple shares lifted over 4.5% on Friday after the tech giant released quarterly results including sales declining just 2.5% which beat expectations. The Dow Jones industrials index added 1.7% in its biggest 1-session rise since January 6th, while the S&P500 rose 1.9% and the tech-heavy Nasdaq added 2.3%.Over in Europe markets also closed higher on Friday as investor assess the monetary tightening cycle in the region and await key economic data out this week. German activewear giant Adidas lifted 8% on Friday after releasing better-than-expected results. Germany’s DAX added 1.44% on Friday, the French CAC rose 1.26% and, in the UK, the FTSE100 rose almost 1%.The local market closed 0.37% higher on Friday, led by a surge in REIT stocks with the sector adding over 2%, while technology, consumer discretionary and communication services stocks offset some of the market’s gains, with these sectors ending Friday’s session in the red.What to watch today:Ahead of the local trading session, the SPI futures are anticipating the ASX to open 0.89% higher to start the new trading week higher on the back of Friday’s global rally. On the commodities front this morning, oil has rebounded from last week’s slump to trade 4.05% higher at US$71.34/barrel, gold is down 1.7% at US$2016.28/ounce and iron ore is own 3.86% at US$99.50/tonne.On the economic data front today, NAB Business Confidence data for April is released today with the forecast of a rise to 1 point from -1 point in March, in a sign the market expects conditions to begin easing for local businesses.The Aussie dollar is buying US$0.68, 91.13 Japanese Yen, 52.67 British Pence and NZ$1.07.Trading Ideas:Bell Potter has downgraded its price target on Janus Henderson (ASX:JHG) from $43.81 to $41.29 following the release of the company’s first quarter results. Bell Potter noted that while the company continues to make progress on the new strategy, short-term investment case remains relatively weak, with uncertainty on performance fees, no operating margin improvement and no obvious catalyst to spark re-rating.Trading Central has identified a bullish signal on Region Group (ASX:RGN) following the formation of a pattern over a period of 45-days which is roughly the same amount of time the share price may rise from the close of $2.53 to the range of $2.65 to $2.69 according to standard principles of technical analysis.

The Aussie share market declined this week, falling 1.6% (Mon-Thu), with only the utilities sector making gains. Financials and energy weighed down on the market the most. Also contributing to the market's decline were interest rate hike announcements in some of the key markets around the world.    In this week's wrap, Sophia covers:(0:22) The RBA's unexpected announcement(1:14) What happened to banking stocks this week(1:51) The impact of recent moves by the Federal Reserve(4:21) The best performing stocks in the ASX200(4:43) The most traded stocks & ETFs by Bell Direct clients(5:23) Five economic news items to watch out for

Wall Street closed the midweek session in negative territory after the Federal Reserve announced a 25-basis point rate hike overnight, marking the 10th straight rate hike in the US in a bid to tackle the country’s 40-year high inflation. Early investor optimism was dented after Fed Chair Jerome Powell ruled out cutting interest rates as he doesn’t expect inflation to fall quick enough. The Dow Jones industrials index fell 0.8%, the S&P500 lost 0.7% and the tech-heavy Nasdaq dropped 0.46%. While interest rates have risen again in the US, there are signs of the tight labour market loosening as US job openings fell for a third straight month in March and layoffs increased to the highest level in more than 2-years. The manufacturing sector is also contracting, and the consumer is struggling with the rising cost of living in the world’s largest economy. On the contrary, the US ISM Services PMI increased to 51.9 points in April from 51.2 points in March, which was higher than expectations and marks the fourth consecutive month of growth in the services sector.The local market closed almost 1% lower on Wednesday in the aftermath of the RBA’s shock 25-basis point rate hike announcement on Tuesday. Further turbulence in the US banking sector and a slump in oil prices caused investors to flee financial and energy stocks on Wednesday, while communications services and consumer staples stocks were the only sectors to end the midweek session in the green. The energy sector dived over 2% on Wednesday as oil fell 1.5% on Wednesday to US$70.60/barrel amid concerns about the US economy discussing ways to avoid a debt default and investors preparing for further rate hikes to come in the region. US Treasury Secretary Janet Yellen said the US government could run out of money within a month while the White House said President Joe Biden would not negotiate over the debt ceiling, but said he will discuss starting a ‘separate budget process’. While it was a red day on the ASX yesterday, gold stocks rallied as investors shifted into the safe-haven assets amid rising fears of further banking turbulence to come. Gold Road Resources led the winners on the local bourse yesterday, rising 4.68%, while West African Resources added 4.28% and Evolution Mining lifted 3.74%.What to watch today:Ahead of the local trading session the SPI futures are anticipating the ASX to open almost half a percent lower on Thursday.On the commodities front this morning, the price of oil has dived over 8% to trade at US$65.99/barrel following the Fed’s rate hike decision, while gold is up 1.7% at US$2050/ounce and iron ore is flat at US$105/tonne.The Aussie dollar is buying US$0.67, 89.65 Japanese Yen, 53.20 British Pence and NZ$1.07.Stocks trading ex-dividend today include Jupiter Mines (ASX:JMS) and Waterco (ASX:WAT). If you’ve been thinking about these stocks it might be worth considering buying in today as stocks trading ex-dividend generally trade lower on the ex-dividend date.Trading Ideas:Trading Central has identified a bearish signal on Fortescue Metals Group (ASX:FMG) following the formation of a pattern over a period of 29-days which is roughly the same amount of time the share price may fall from the close of $19.99 to the range of $16.60 to $17.20 according to standard principles of technical analysis.Trading Central has also identified a bearish signal on Nine Entertainment (ASX:NEC) following the formation of a pattern over a period of 202 days which is roughly the same amount of time the share price may fall from the close of $2.03 to the range of $1.57 to $1.65 according to standard principles of technical analysis.

The Federal Reserve meeting has kicked off, which saw European markets close lower, with oil and gas stocks weighing down on the market the most. In the US, the Dow Jones tumbled more than 300 points or 1.08% amid concerns on the banking sector and ahead of the Fed’s rate decision. The S&P500 and the Nasdaq also both declined more than 1%. What to watch today:The SPI futures are suggesting our local market will drop 0.56% at the open, following the global sell-off. Looking at commodities, Oil has sharply fallen further, currently trading 5.4% lower at around US$71.56 per barrel. This marks a five-week low and is due to concerns about a possible recession resulting from interest rate hikes by central banks, as this could ultimately affect energy demand. The RBA unexpectedly raised rates yesterday, and the Federal Reserve and the European Central Bank are set to make announcements this week. Meanwhile iron ore is trading flat. Gold is approaching a 13-month high due to evidence of a slower job market, and concerns over small-cap US banks. Trading Ideas:Bell Potter maintain a Speculative Buy rating on Pentanet (ASX:5GG). The company is a licensed telecommunications carrier and cloud gaming provider based in Perth. 5GG released a third consecutive flat quarterly update, as the company is focusing on increasing its capacity to serve higher margin on-net subscribers. Bell Potter’s recommendation is based on a successfully scaled rollout of the company’s next-gen network and cloud gaming services, which can meet global tends in entertainment and data proliferation from evolving media consumption. They have lowered their valuation to $0.12, and at the stocks current share price of $0.08, this implies 46.4% share price growth in a year. Trading Central has identified a bearish signal in Woodside Energy (ASX:WDS) indicating that the stock price may fall from the close of $33.38 to the range of $31.40 to $31.80 over 7 days according to the standard principles of technical analysis. 

The ASX started the week on a positive note closing yesterday’s session in the green. Utilities led the market yesterday, while tech stocks came under pressure. Gold stocks were also sold off with the price of the commodity down almost half a per cent.Energy stocks advanced on the price of oil rallying more than 2% on Friday following strong earnings results out of the U.S. Yesterday however, oil fell 1.4% to trade below US$76/barrel on weak Chinese manufacturing activity data.Overnight, US equities declined as investors prepare for the Fed’s meeting. Investors were focused on the banking sector, following the announcement that JP Mogan won the auction for First Republic Bank. On another note, investors are also watching out for news on the debt ceiling, after Treasury Secretary Janet Yellen warned the US may run out of measures to pay its debts as early as June 1st. What to watch today:Following New York overnight, the SPI futures are suggesting the Australian market will open 0.07% lower this morning. In commodities: Oil has extended a two-week decline, as unexpected weak manufacturing Chinese data raised demand concerns for the crude importer. Iron ore continues to decline due to the low demand from Chinese steelmakers. Looking at the gold price – overall for April, the gold price increased for the second consecutive month. Currently however, gold is trading lower as investors await another rate hike by the Fed this week. The Fed is widely expected to raise rates by 25 basis points on Wednesday, in response to robust US economic data and persistent inflationary pressures. That brings us over to economic news this week, as other central banks including the European Central Bank and the RBA are also announcing monetary policy decisions this week. At 2:30pm today, the RBA will announce the latest interest rate decision for May with much of the market now expecting a second consecutive pause.Trading Ideas:Bell Potter have upgraded their recommendation on GrainCorp (ASX:GNC) from a Hold to a Buy, and maintain their price target of $8.00. At the stock’s current share price of $6.95, this implies 15.1% share price growth in a year. Trading Central has identified a bearish signal in oOh media (ASX:OML) indicating that the stock price may fall from the close of $1.61 to the range of $1.50 to $1.52 over 20 days, according to the standard principles of technical analysis. 

The Australian market is set to start the week higher, after Wall Street ended last week with all three major benchmarks rallying. The Dow Jones had its best month since January, gaining 250 points, while the S&P500 closed 0.8% higher and the Nasdaq up 0.7%. What to watch today:This morning, the SPI futures are suggesting that our local market will rise 0.74% at the open. In commodities, Oil has advanced almost 3%, regaining earlier losses, after prospects of a global economic slowdown hurting energy demand, weighed signs of tightening supplies. Gold is also in the green as heightening global economic uncertainties and a weaker US dollar lifted demand for the safe-haven asset. Iron ore has fallen a further 2.8%, now trading around US$105 per tonne, the lowest since early December, as a demand downturn from steelmakers risked the oversupply of iron ore. Trading Ideas:Bell Potter maintains their Buy rating on Perpetual (ASX:PPT), after the company’s Q3 update showed Funds Under Management in the asset management business increased to $210 billion, a 4% increase over the quarter based on the proforma PPT Assets Under Management of $93.7 billion after the inclusion of $110.2 billion of Funders Under Management from Pendal. Bell Potter says that they believe the shares were heavily sold off in late 2022 over fears of continued outflows and doubts about the achievability of the merger. They have increased their 12-month price target by 3% to $30.60, and at PPT’s current share price of $24.53, this implies 24.8% share price growth in a year. They expect the shares to perform well as investors realise the value being created in the combined business. Bell Potter also maintain a Buy rating on Telix Pharmaceuticals (ASX:TLX), following the recent quarterly report which delivered a 20% beat against Bell’s revenue targets, FY23/24 revenues are upgraded by 24% and 29% respectively, along with large increases to earnings. Bell Potter’s price target has been upgraded by 55% to $14.00, and at the stock’s current share price of $10.15, this implies 37.9% share price growth in a year. 

The Aussie share market declined this week, falling 0.5% (Mon-Thu), as the materials sector weighed down on the market the most, dropping 2.2%. Financials, consumer discretionary and utilities are also lower, while communication services and industrials advanced.   In this week's wrap, Sophia covers:(0:16) The demand outlook from the leading iron ore importing country(1:08) China's crippling property market(1:49) Bell Potter's forecast for Mineral Resources (ASX:MIN)(2:48) The best performing stocks in the ASX200(3:57) The most traded stocks & ETFs by Bell Direct clients(5:00) Four economic news items to watch out for

In New York overnight, markets had a strong run with all three major benchmarks closing with strong gains. The Dow Jones and the S&P500 both had their best session since January, closing 1.6% and 1.96% higher respectively. Meanwhile the Nasdaq rallied 2.43% higher, as strong results from Meta Platforms boosted tech-related companies. Meta shares leapt 14%, after the company reported quarterly revenue that topped expectations, and issued a positive forecast. European markets were also in the green, as strong corporate earnings overcame the concerns around the US banking sector. What to watch today:The Australian market is set to jump 0.75% at the open this morning, following Wall Street’s advance. In commodities, Oil is trading higher, after losing nearly 6% in the past two sessions, as recession fears and renewed concerns about the banking sector outweighed falling US inventories and the prospect of weaker global supplies. The US oil benchmark also gave up all the gains from earlier this month when OPEC+ announced a surprise production cut.Gold is at its lowest level in over three weeks with a rebound in risk sentiment and expectations of tighter monetary policy from the Fed. And iron ore prices fell under US$110 per tonne, the lowest since December, as a demand downturn rom steel makers risked the oversupply of iron ore. Quarterly reports from the following companies are set to be released today, so keep watch of the share price movements of these stocks. These include Coles (ASX:COL), IGO (ASX:IGO), Mirvac Group (ASX:MGR), Origin Energy (ASX:ORG), Oz Minerals (ASX:OZL), ResMed (ASX:RMD) and Volpara Health Technologies (ASX:VHT). Trading Ideas: Bell Potter have a Speculative Buy rating on PointsBet Holdings (ASX:PBH), after a recent media report suggested the company could be considering a potential sale of its US business for around US$500 million. Bell Potter says the value looks reasonable or even conservative if other media reports are accurate. The company has also considered the potential sale of its Australian business for around AUD $250 million. Bell Potter have increased their valuation from $2.75 to $3.00, and at the stock’s current share price of $1.65, this implies 81.8% share price growth in a year.Trading Central have identified a bearish signal in Austal (ASX:ASB) indicating that the stock price may fall from the close of $1.65 to the range of $1.46 - $1.50 over 18 days, according to the standard principles of technical analysis. 

Wall Street wavered during the midweek session before closing mixed as investors fears of a banking crisis rise on the back of First Republic Bank’s first quarter results and subsequent 49% decline on Tuesday. Upbeat earnings out of Alphabet, Microsoft and Boeing softened the sharp losses but weren’t enough to turn Wall Street positive at the closing bell on Wednesday. At the closing bell, the Dow Jones fell 0.68%, and the S&P500 lost 0.38%, but the tech-heavy Nasdaq added almost half a percent buoyed by strong earnings results.Over in Europe, markets closed lower as investor fears of a banking crisis worsened. London-listed bank Standard Chartered posted a 21% rise in pre-tax profit which beat estimates and helped restore some relief in the European banking sector. Germany’s DAX ended the midweek session down 0.48%, the French CAC dropped 0.86%, and in the UK, the FTSE100 fell 0.49%.The local market rallied after midday yesterday following the release of Australia’s inflation data for Q1, showing inflation cooling to 7% over the twelve months to the March quarter, in a sign inflation has peaked down under. Quarter-on-quarter, inflation rose 1.4%, with the highest price rises from Medical and hospital services, up 4.2%, tertiary education, up 9.7%, and gas and other household fuels, up 14.3%. The rise to 7% for the March quarter was slightly above consensus expectations of a rise to 6.9% but does show inflation is beginning to cool.The rise in medical and hospital services is to be expected in the March quarter as this is generally the period GPs and other health service providers review their fees, and the Medicare Safety Net is reset at the start of every calendar year. Tertiary education fees are also indexed at the start of the year. The significant rise in gas and other fuel costs reflects major events over the past year globally including Russia’s war with Ukraine and unplanned outages at coal fired power stations according to the ABS. At the closing bell of the midweek session though, a sharp sell-off in Utilities stocks weighed the local bourse down to close 0.08% lower.What to watch today:Ahead of the local trading session here in Australia, the SPI futures are anticipating the local index to open 0.22% lower to start Thursday’s trading session in the red.On the commodities front this morning oil continues to trade sharply lower, down 3.68% at US$74.23/barrel, gold is down 0.41% at US$1989.7/ounce and iron ore is down 2.74% at US$106.50/tonne.On the economic calendar today, US GDP growth rate data for Q1 is released tonight with consensus expecting a decline in economic expansion to 2% from 2.6% in Q4.On the Aussie dollar front, AUD$1.00 is buying US$0.66, 88.32 Japanese Yen, 53.43 British Pence and NZ$1.08.Trading Ideas:Bell Potter has increased its price target on Gold Road Resources (ASX:GOR) from $1.90 to $2.05 and maintain a buy rating on the gold miner following the release of the company’s Q1 results including record quarterly free cash flow of $44.2m which beat Bell Potter expectations. The company also maintained production guidance and ended the quarter with cash and equivalents of $128m, up $47m. GOR is debt free and updated on retained stockpiles at Gruyere which stand at 5.9 million tonnes at 0.72 grams per tonne which provides an ongoing buffer against mining disruption.Trading Central has identified a bearish signal on Rio Tinto (ASX:RIO) following the formation of a pattern over a period of 94-days which is roughly the same amount of time the share price may fall from the close of $111.94 to the range of $98-$101 according to standard principles of technical analysis.

Wall Street closed lower on Tuesday as investor fears of a banking crisis reignited. Shares in First Republic Bank tanked more than 49% on the release of the regional bank’s latest quarterly results including deposits dropping 40% to US$104.5bn in Q1 but have since stabilised and the bank is instilling cost cutting measures including cutting head count by 20% to bolster its balance sheet. The results spooked investors about broader weakness in the banking sector following the recent collapses of Signature Bank and Silicon Valley Bank. The results are the first time this earnings season we have seen investors react as it has been a very uneventful reporting period so far. The local market was closed yesterday for the ANZAC day public holiday but has started the week on a very turbulent note after some of the key iron ore miners revealed that production was lower in the March quarter, which comes at the same time iron ore slumped to its lowest level since December last week due to weaker-than-expected demand from Chinese steel mills and reports of stockpiles at ore ports. South32 was the worst performer, dropping 7.4% on Monday after revealing lower production of iron ore this quarter, while BHP Group (ASX:BHP) and Fortescue Metals Group (ASX:FMG) each fell 2% and 3.4% on Monday respectively. The red-hot lithium stocks of 2022 have continued coming under pressure in recent days after Chile’s government, which geographically boasts the world’s second largest reserves of lithium, announced a new plan for the country to take a majority stake in all lithium projects in the region. This bid for state control in Chile could be a positive for local Australian lithium miners and producers as it may push up prices of the green commodity and divert capital to other producers like in Australia.What to watch today:Ahead of the local trading session the SPI futures are anticipating the local index to start the midweek session 0.52% lower on the back of global market turbulence overnight.On the commodities front this morning, oil remains under pressure this morning, trading 2.08% lower at US$77.12/barrel, gold is up 0.4% at US$1996.91/ounce and iron ore is sharply lower, down 5.6% at US$109.50/tonne.On the Aussie dollar front, AUD$1.00 is buying US$0.66, 88.40 Japanese Yen, 53.57 British Pence and NZ$1.08.On the economic data front today we will see investors respond to Australia’s inflation rate data for Q1 released just after midday AEST with consensus expecting a fall to 6.9% for Q1 from 7.8% in Q4, which if it comes in at that level will imply inflation has peaked down under and the RBA’s rate hiking efforts are working. This data will also play a role in determining the RBA’s move next week on Tuesday as to whether another 25-basis point rate hike is required or if the pause can continue.The S&P Global Flash US Composite Purchasing Manufacturers Index climbed to an 11-month high of 53.5 in April, following 52.3 in March – indicating the business conditions remain resilient including and provides another case for the Fed to continue raising interest rates in Trading Ideas:Bell Potter has increased its rating on Cyclopharm (ASX:CYC) from a hold to a buy and has raised the price target from $1.70 to $2.80 on the medical device company following the FDA notifying the company that its response for the New Drug Application for Technegas is now complete and eligible for review with a goal date for the announcement of a potential approval of 29th September 2023.Trading Central has identified a bullish signal on Flight Centre (ASX:FLT) following the formation of a pattern over a period of 25-days which is roughly the same amount of time the share price may rise from the close of $19.19 to the range of $20.80 to $21.10 according to standard principles of technical analysis.

Wall Street ended little unchanged across the key indices on Friday, but down for the week as investors assessed mixed corporate earnings results against the increasing chance of a recession in the U.S. later this year. Shares in Proctor & Gamble (ASX:PG1) rose 3.5% on Friday after it reported a sales boost from higher prices introduced across the portfolio of consumer products. Albermarle (ASX:ALB), the world’s largest lithium producer, on the other hand tanked 10% after Chile said it would nationalise its lithium industry, a key operational region for Albermarle over the last 40-years.Earnings season in the US has broadly kicked off in a very uneventful manner, with investors believing profits beating expectations are unsurprising as the expectations were set very low amid the high interest rates, and high-cost environment.Over in Europe, markets closed higher as investors responded to corporate earnings results released in the region. German software giant SAP rose 5% on Friday after reporting higher revenue and operating profit that beat expectations, while Swiss building materials manufacturer Holcim also beat expectations for profits and revenue as well as raising its guidance.Germany’s DAX rose 0.54% on Friday, the French CAC added 0.51% and, in the UK, the FTSE100 climbed 0.15% on Friday.The local market closed almost half a percent lower on Friday as the miners and bankers weighed on the local bourse. A build up in port inventories of iron ore and lowered demand from Chinese steel mills caused a drop in the price of iron ore to a four-month low, which caused investors to sell out of materials stocks on Friday.What to watch today: Ahead of the local session here in Australia, the SPI futures are anticipating the ASX to open 0.11% lower on the back of Wall Street’s turbulent end to last week.Taking a look at commodities this morning, oil is down 0.2% at US$77.80/barrel, gold is up just 0.03% at US$1982/ounce and iron ore is sharply lower, down 3.33% at US$116/tonne amid stockpiles in port inventories.On the foreign exchange front, AU$1.00 is buying US$0.67, 89.69 Japanese Yen, 53.45 British Pence and NZ$1.09.Trading Ideas: Bell Potter has decreased its price target on Lynas Rare Earths (ASX:LYC) from $8.06 to $8 but maintain a buy rating on the rare earths company following the release of the company’s quarterly report including the highest ever output of NdPr from its Malaysia plant. Bell Potter’s price target downgrade is due to the uncertainty faced for the company’s Malaysia plant which could face a potential forced shutdown from July 1 due to domestic regulator concerns about radiation levels from the process of cracking and leaching. The next 6-months will be a transitional period for Lynas and remains a high-risk to earnings as the company relocates its cracking and leaching operations from Malaysia to Australia.Trading Central has identified a bullish signal on Hearts & Minds Investments (ASX:HM1) following the formation of a pattern over a period 187-days which is roughly the same amount of time the share price may rise from the close of $2.40 to the range of $2.75-$2.83 according to standard principles of technical analysis.

The Aussie share market traded flat this week, rising just 0.01% (Mon-Thu), as a rally in Financial, REIT and consumer discretionary stocks was offset by the energy sector plunging over 2.8%. Energy stocks were rocked by falling commodity prices, especially gas dropping on news of a global oversupply, while oil prices dropped over 2% later in the week.In this week's wrap, Grady covers: •    (0:48) Why has the healthcare sector outperformed the broader market •    (1:59) Neuren & Telix Pharmaceuticals making sound progress •    (4:11) The best performing stocks in the ASX200 •    (5:03) The most traded stocks & ETFs by Bell Direct clients •    (5:38) Three economic news items to watch out for 

US equities closed lower overnight, with all three major benchmarks in the red. The decline followed a mixed bag of corporate earnings, including disappointing results from Tesla, which showed a fall in net income, and the company’s announcement of further price cuts. CEO Elon Musk stated that he was willing to sacrifice margins in a push for market share. All three major averages are on track for a week of losses. The Dow and the S&P500 on track for their worst weekly performances since March. European stocks were mostly lower and investors are considering the outlook for interest rates, after UK inflation unexpectedly held above 10%, while wage rises slowed by less than expected. What to watch today:The SPI futures are suggesting the Australian market will drop 0.52% at the open this morning, following the broad selling globally overnight. In commodities: Oil prices have sharply fallen to a nearly-three week low, pressures by lingering concerns that higher interest rates could dampen growth and impact demand. Meanwhile gold is trading higher, recovering from yesterday’s losses to trading at around US$2,000 an ounce, as the US dollar declined, and yields eased. Iron ore is higher, bouncing back above the US$120 per tonne mark, however remains close to the 3 ½ month low hit earlier this week. Trading Ideas:Bell Potter maintain a buy rating on Allkem (ASX:AKE), expecting cash generation to lift substantially from 2023 with ongoing strength in lithium demand, commodity prices and production growth. AKE is aiming to maintain 10% share of supply in a global lithium market experiencing unprecedented growth. Bell Potter have increased their price target from $18.61 to $19.89. At AKE’s current share price of $11.64, this implies 71% share price growth in a year. Trading Central have identified a bullish signal in Flight Centre (ASX:FLT), indicating that the stock price may rise from the close of $18.94 to the range of $21.20 to $21.70 over 30 days, according to the standard principles of technical analysis. 

Wall Street had another lacklustre session overnight as investors continue to assess first quarter results as earnings season ramps up into full swing. The Dow Jones industrials index lost 0.23%, the S&P500 fell 0.01% and the tech-heavy Nasdaq gained 0.03%.Netflix and Morgan Stanley headlined the results released on Wednesday. Netflix shares fell 3.2% after the streaming giant pushed back plans to crack down on password sharing, but for the quarter Netflix beat analysts’ estimates on earnings per share.Morgan Stanley shares rose 0.7% despite the big bank reporting weaker-than-expected margins for investment banking, wealth, and asset management. This earnings season investors are looking out for slowing earnings growth and signs of weakening demand likely to hit corporate profits in the second half of FY23 as the Fed continues its rate hike path toward the end of the tightening cycle.Over in Europe, markets closed mixed as investors digested the latest CPI data out of the UK. UK CPI or inflation data came in at 10.1% for March, down from 10.4% in February but well above economists’ expectations of a fall to 9.8%, in a sign inflation remains stubbornly high in the UK. Data out on Tuesday though showed wages growth in the UK slowed by less than expected in the three months to March which may encourage the Bank of England to continue raising rates at the next monetary policy meeting. Germany’s DAX rose 0.08%, the French CAC added 0.21% and, in the UK, the FTSE100 fell 0.13%.On the local bourse yesterday, it was a muted day on the ASX, with the key index closing 0.07% higher as strong gains for materials stocks were offset by sharp losses in the consumer discretionary sector. Gold stocks did most of the heavy lifting yesterday amid a rise in the price of the precious commodity, while Telix Pharmaceuticals (ASX:TLX) was the top performing stock for a second straight session after releasing record-setting results to start the week.What to watch today:Ahead of the local trading session the SPI futures are anticipating the ASX to open 0.09% lower following lacklustre sessions on global markets overnight.On the commodities front this morning oil is trading 2.26% lower at US$79.03/barrel, gold is down 0.51% at US$1994.70/ounce and iron ore is up 2.54% at US$121/tonne.AU$1.00 is buying US$0.67, 90.43 Japanese Yen, 53.93 British Pence and NZ$1.08.Trading Ideas:Bell Potter has increased its price target on RMA Global (ASX:RMY) from 20 cps to 21 cps and maintain a speculative buy rating on the company amid the digital real estate marketing company’s success in penetrating the large US market including US claimed profiles growing to 250,000 up 6.4% quarter-on-quarter, while US reviews increased 97% year-on-year.Bell Potter has downgraded its price target on Frontier Digital Ventures (ASX:FDV) from $1.23 to $1.05 but maintain a speculative buy rating on the company following the company completing a capital raise and the headwinds faced through difficult trading conditions in Pakistan.

The RBA meeting minutes for April were released yesterday which spooked the market into sell-off mode with hints that the RBA is eyeing off further rate hikes after pausing in April to assess economic conditions. The RBA’s board believe there is a strong case for further rate hikes to come amid concerns that the growing population and ongoing wages growth in the public sector are still not under control and in line with the slowdown in economic growth previous rate hikes have been targeting. CBA and some economists now expect the RBA to hike the nation’s cash rate by a further 25-basis points in May which will take the cash rate to 3.85%, while ANZ says the RBA could go either way. The local bourse responded negatively to the release of the RBA’s minutes yesterday, with the ASX closing the second trading session of the week down 0.29% led by a sharp sell-off in energy and consumer staples stocks. The energy sector was weighed down amid declining gas prices on the back of excess global LNG supply.It was a big day for healthcare companies yesterday with some big news moving some key names in the sector. Drug development company Neuren Pharmaceuticals (ASX:NEU) jumped over 5% yesterday reaching a record high share price after announcing it has earned US$40m as an earnout payment from its US partner, Acadia Pharmaceuticals, for the first commercial sale of the company’s drug Trofinetide in the US. Telix Pharmaceuticals (ASX:TLX) led the market gains yesterday, soaring over 12% a day after the commercial-stage biopharmaceutical company released its quarterly cash-flow statement and accompanying activities report for the first quarter including revenue of $100.1m.Overseas, China’s GDP growth rate data released yesterday came in at 4.5% growth year on year in the first quarter, which beat expectations of 4% growth and up from 2.9% growth in Q4 as the country ramps up operations after emerging from length COVID-19 lockdowns. Chinese retail sales also grew the most in nearly 2-years in March, increasing by 10.6% year-on-year as sales picked up especially for gold and silver jewellery.What to watch today:Ahead of the local trading session here in Australia the SPI futures are anticipating the ASX to open 0.12% higher to start the midweek session in the green.Taking a look at commodities this morning, oil is down 0.23% at US$80.65/barrel, gold is up almost half a percent at US$2004.24/ounce and iron ore is down 1.67% at US$118/tonne.AU$1.00 is buying, US$0.67, 90.13 Japanese Yen, 53.99 British Pence and NZ$1.08.There is no local economic data out today however over in the UK, the country’s inflation rate data for March will be released at 5pm AEST with consensus expecting a slight decline to 9.8% from 10.4% in February.Trading Ideas:Bell Potter has downgraded its price target on Regis Resources (ASX:RRL) from $2.88 to $2.77 but maintain a buy rating on the company after the gold miner released preliminary group gold production for the March quarter 2023 of 103.7 thousand ounces which fell short of expectations and was down 11.6% quarter-on-quarter.Trading Central has identified a bullish signal on Cleanaway Waste Management (ASX:CWY) following the formation of a pattern over a period 32-days which is roughly the same amount of time the share price may rise from the close of $2.49 to the range of $2.61 to $2.65 according to standard principles of technical analysis.

US equities kicked off earnings week on a positive note, with all three major benchmarks making gains overnight, in fact, all three benchmarks closed 0.3% higher. US financials will be in focus this week with the Bank of America reporting tonight and Morgan Stanley reporting on Wednesday. Investors have been keeping a close eye on the banking sector after the collapse of Silicon Valley Bank last month. European markets closed mixed. Germany’s Dax, France’s CAC and the STOXX 600 were all lower, while the FTSE 100 rose just 0.1% by the close. What to watch today:The Australian market is set to open 0.23% lower this morning, according to the SPI futures. BHP’s (ASX:BHP) takeover of OZ Minerals (ASX:OZL) was approved yesterday and will be finalised in early May. In December last year, OZ Minerals announced that it had entered a Scheme Implementation Deed with BHP. The implementation date is May 2nd, when BHP will pay $26.50 per OZL share as the Scheme Consideration, and OZ Minerals will pay $1.75 per OZL share as a fully franked special dividend. In economic data, today the RBA’s meeting minutes will be released at 11:30am AEST, which will provide some insights into the meeting when the central bank decided to hold the cash rate steady for the first time in 10 months. And attention this week will be on China’s gross domestic product report on Tuesday and UK CPI numbers on Wednesday. In commodities, The oil price is trading over 2% lower, as concerns mounted that further rate hikes from the Fed will hurt growth even more. However, also note that GDP growth data for China that is due to be released tomorrow, which should offer some relief for a fall in oil demand. Gold is 0.4% lower as investors continue to assess the monetary policy outlook. Iron ore is trading flat. Auckland International Airport (ASX:AIA) and Hub24 (ASX:HUB) are set to release quarterly reports today, so keep watch of those share price movements today. Trading Ideas:Bell Potter have initiated coverage on Brickworks (ASX:BKW) with a buy rating. BKW is a building materials and property developer. Bell Potter says that on face value, the company looks reasonably priced relative to listed peers, however, a high presence of equity accounting masks what is relatively low-cost exposure to a residential housing recovery, with BKW’s core Building Products business trading at an approximately 11% discount to the peer group. Bell Potter’s price target is $27.00. At the stock’s current share price of $23.56, this implies 14.6% share price growth in a year. Trading Central have identified a bullish signal on Core Lithium (ASX:CXO) indicating that the stock price may rise from the close of $0.93 to the range of $1.12 to $1.16 over 17 days, according to the standard principles of technical analysis. 

Wall Street closed lower on Friday as investors assessed a mixed bag of economic data against big bank first quarter earnings results. Retail sales data for March was released in the US late last week showing a 1.2% decline for the month compared to expectations of a 0.4% drop. Despite this reading, unfavourable results from consumer sentiment and industrial production data add further support for the Fed to raise the nation’s cash rate by 25-basis points at the next FOMC meeting. The Dow Jones industrials index fell 0.42%, the S&P500 lost 0.21% and the tech-heavy Nasdaq fell 0.35%.Big banks began releasing first quarter results on Friday with BlackRock (ASX:BKT) rising 3% after beating profit expectations, alongside Citigroup, and JPMorgan rallying on bumper earnings results that also beat expectations. Earnings reports being released by the banks enters full swing this week so we can expect the markets to move accordingly based on how well the big banks performed in the first quarter, especially in the wake of the regional banking crisis earlier this month.Over in Europe, markets ended the final trading session of the week higher, led by a rise in the banking sector after JPMorgan Citigroup and Wells Fargo beat estimates for the first quarter and ahead of earnings season this week for the big banks. The STOXX600 rose 0.53%, Germany’s DAX rose half a percent, the French CAC added 0.52% and, in the UK, the FTSE100 rose 0.36%.The local index closed 0.51% higher on Friday after a turbulent session on Thursday following the release of unemployment data showing the country’s unemployment rate remains ultra-low at 3.5%, in a sign for the RBA to continue its rate hike journey in May after April’s pause. Investor sentiment was lifted on Friday though by a rally for materials stocks amid a rise in commodity prices and demand outlook, while financials stocks were lifted by strong earnings results out of some big banks in the US. What to watch today:Ahead of the local trading session the SPI futures are anticipating the ASX to open 0.16% higher to start the new trading week on a positive note.On the commodities front this morning oil is trading 0.44% higher at US$82.52/barrel, gold is down 1.75% at US$2004/ounce and iron ore is flat at US$120/tonne.There is no local economic data released today however investors will be eagerly awaiting the release of the RBA’s meeting minutes for April out tomorrow to gain an insight into how the RBA are thinking about future rate hikes to tackle Australia’s current level of inflation.Stocks trading ex-dividend today include New Hope Corporation (ASX:NHC). If you’ve been thinking about this coal mining stock, it might be worth considering buying in today as stocks trading ex-dividend generally trade lower on the ex-dividend date.Trading Ideas:Bell Potter has downgraded its rating on Breaker Resources (ASX:BRB) from a buy to a sell and has downgraded the price target from $0.62 to $0.53 following the receipt of a takeover offer from Ramelius Resources that has been unanimously recommended by Breaker’s board and major shareholders to accept the offer. The takeover offer is worth $130.7m and implied a share price offer of $0.40/share at the time of the all-scrip takeover offer being received.Trading Central have identified a bullish signal on ARB Corporation (ASX:ARB) following the formation of a pattern over a period of 76-days which is roughly the same amount of time the share price may rise from the close of $32.61 to the range of $40.25 to $42.00 according to standard principles of technical analysis.

The Aussie share market advanced 1.46% (Mon-Thu), as investors shook off fears of a global banking crisis and digested key inflation data out of the US. Materials stocks led the charge this week with the sector rising 3.16%, buoyed by iron ore prices rising on the back of a cyclone forming off WA's Kimberley coast, a key region of iron ore export for Australia.  In this week's wrap, Grady covers: •   (0:25)  Outlook for the lithium sector •   (4:17 ) Where Bell Potter sees opportunities in lithium •   (5:11) The best performing stocks in the ASX200 •   (5:57) The most traded stocks & ETFs by Bell Direct clients •   (6:27) Two economic news items to watch out for

US equities had a strong run overnight, after the US producer price index for March was released, which was another economic report to point to the fact that US inflation may be cooling down. PPI dropped 0.5% month over month, compared to market expectations for prices to be flat. Excluding food and energy, the core wholesale prices reading declined, when the market was expecting an increase. All three major benchmarks rallied. The Dow and the S&P500 both closed over 1% higher, with the S&P500 closing at its highest level since February. The Nasdaq closed 2% higher, boosted by the PPI report. So its good to see tech stocks among the gainers, after being hit the hardest during the periods of rising inflation and rates. What to watch today:The SPI futures are suggesting that the Australian market will open 0.2% higher, following Wall Streets lead. In commodities, Oil prices are trading lower, easing from the five-month high hit earlier this week. Watch energy producers such as Beach Energy (ASX:BPT) and Woodside Energy (ASX:WDS)Gold moved higher overnight, trading at its highest level since March 2022. Gold miners such as Newcrest Mining (ASX:NCM) and St Barbara (ASX:SBM) could have a good finish to the week. And iron ore is also flat at US$121.50 per tonne. Trading Ideas:Bell Potter maintain a Buy rating on Beach Energy (ASX:BPT) and have lowered their price target from $2.21 to $2.18. at BPT’s current share price of $1.52, this implies 43.4% share price growth in a year. And Trading Central have identified a bearish signal in Stanmore Resources (ASX:SMR) indicating that the stock price may fall from the close of $3.26 to the range of $2.40 to $2.55 over 34 days, according to the standard principles of technical analysis. 

Annual US inflation fell for a ninth consecutive month in March to 5% or the lowest level since May 2021. Economists were expecting annual inflation to fall to 5.2% so the larger drop to 5% beat expectations. Core inflation, the Fed’s preferred measure of inflation as it removes the volatile food and energy prices, on the other hand inched up for the first time in 6-months to 5.6% for March from 5.5% in February. Investors were spooked into sell-off mode on Wednesday after some fed officials said a mild recession is likely this year before the economy recovers over the next 2-years. The Dow Jones fell 0.11%, the S&P500 lost 0.41% and the tech-heavy Nasdaq fell 0.85% on Wednesday.Over in Europe, markets closed slightly higher as investors digested key inflation data out of the US, with markets already factoring in a 75% chance that the Fed will raise interest rates by a further 25-basis points in May. Germany’s DAX rose 0.31%, the French CAC added 0.09% and, in the UK, the FTSE100 rose 0.5% on Wednesday.The local market closed 0.47% higher buoyed by a rally for technology and materials stocks, extending the local bourse’s rally into a second straight session.What to watch today:Ahead of the local trading session the SPI futures are anticipating the ASX to open 0.04% lower or flat on the second last trading session of the week as global recession fears enhance on the back of the comments made by Fed officials overnight.On the commodities front this morning oil is trading 2.12% higher at US$83.26/barrel, gold is up 0.53% at US$2013.70/ounce and iron ore is up 1.25% at US$121.50/tonne. Iron Ore prices have risen in recent days following the formation of a cyclone off the Kimberley coast in Western Australia, a key region for iron ore export in Australia.Stocks trading ex-dividend today include Best & Less (ASX:BST), Horizon Oil (ASX:HZN) and Duxton Water (ASX:D2O). If you’ve been thinking about these stocks it might be worth considering buying in today as stocks trading ex-dividend generally trade lower on the ex-dividend date.On the economic calendar front today, there is no local data released however over in the US tonight, Producer Price Index data for March will be released with the market expecting a rise of 0.1% following a 0.1% drop in February.Trading Ideas:Bell Potter has initiated coverage of LGI Limited (ASX:LGI) with a Hold recommendation and a 12-month price target of $2.56. Bell Potter is positive on the long-term prospects for the market leader in the biogas recovery and renewable energy space, but feels the company is well valued at its current range.Bell Potter has cut its price target on Whitehaven Coal (ASX:WHC) from $8.15 to $7.05 and maintain a hold rating on the leading Australia coal producer, after the company cut its FY23 production guidance. Whitehaven Coal cited predicted labour shortages, operational constraints at Maules Creek, and weather interruptions during March, as the reasons for the downgrade in guidance.

Wall Street ended mixed again on Tuesday as investors try to shrug off recession concerns ahead of the release of key inflation data out later this week. The Dow Jones rose 0.3%, the S&P500 finished muted and the tech-heavy Nasdaq fell 0.4% on Tuesday. Investors are anticipating the release of the March readings for consumer price index out Wednesday and producer price index out Thursday to gain an insight into how the Fed might proceed on its current rate-hike journey. Moderna shares fell more than 3% overnight after the biotech firm said it delaying its flu vaccine after the experimental vaccine did not meet the criteria for ‘early success’ in a late-stage trial.In Europe, markets closed higher following the return to trade after the Easter long weekend with the mining giants leading the gains across the board. Germany’s DAX rose 0.4% on Tuesday, while the French CAC added 0.9% and, in the UK, the FTSE100 added 0.6%.The local market closed 1.26% higher on the first trading session of the shortened week, led by a surge in materials and consumer discretionary stocks. The materials sector was boosted by strengthening commodity prices and demand outlook from China, while consumer discretionary stocks were possibly driven higher by consumer confidence lifting. Westpac consumer confidence rebounded 9.4% in April, to the highest level since June 2022, following the RBA announcing a pause in interest rate hikes last week. The largest gains in consumer confidence were for the outlook in property prices. NAB business confidence for March also improved in data out yesterday, with the reading coming in at minus 1 from minus 4 in February, but business conditions slightly dropped from 17 to 16 for the month, indicating business confidence has stabilised but remains below the average at -1 index point. Newcrest Mining (ASX:NCM) shares jumped over 5% on Tuesday after the Aussie gold miner announced it had received an upgraded takeover offer from US gold mining giant Newmont valuing the company at almost $30 billion, implying a share price of $32.87/share, or a 22% premium to NCM’s previous closing price. After assessing the revised proposal, Newcrest has agreed to grant Newmont the opportunity to conduct confirmatory due diligence to enable it to put forward a binding proposal. Evergreen Lithium debuted on the ASX yesterday, jumping 20% during its debut session in another sign the lithium era is far from over. The lithium explorer aims to mirror the success of neighbours Core Lithium (ASX:CXO) and Liontown Resources (ASX:LTR), through its flagship Bynoe, Fortune Lithium and Kenny Projects.What to watch today:Ahead of the local trading session the SPI futures are anticipating the ASX to open 0.34% higher to start the midweek session in the green.On the commodities front this morning crude oil is trading 2.4% higher at US$81.63/barrel, its highest level since late January, buoyed by prospects of higher Chinese demand and tighter global supplies. Gold is up 0.73% at US$2004.14/ounce and iron ore is up 0.42% at US$120/tonne.Taking a look at the Aussie dollar, AUD$1.00 is buying US$0.67, 88.97 Japanese Yen, 54.89 British Pence and NZ$1.07.Trading Ideas:Bell Potter has increased its price target on 4D Medical (ASX:4DX) from $0.96 to $1.05 and maintain a speculative buy rating on the company following the company announcing it has signed an inaugural contract in the US to deliver its XV LVAS scans to a US hospital client, in the first steps of commercialisation for the company’s lung scanning technology.Trading Central have identified a bullish signal on Beach Energy (ASX:BPT) following the formation of a pattern over a period of 37-days which is roughly the same amount of time the share price may rise from the close of $1.54 to the range of $1.73-$1.77 according to standard principles of technical analysis.

It was a mixed session on in New York ahead of key inflation data and quarterly bank reports out this week. Tech stocks struggled to make gains, with shares of Apple falling 1.6% and Alphabet falling 1.8%. The Nasdaq closed in the red, while the Dow and the S&P500 advanced. What to watch today:To start the trading week after we return from the Easter long weekend, the Australian market is set to open 0.3% lower this morning. In commodities, Oil prices have taken a downward turn amid renewed concerns that a potential global recession would weaken demand, and this offset the bullish bets around tighter global supplies. The price of gold is also lower, retreating slightly from its one-year high, as the US dollar gained some ground after the US non-farm payrolls report pointed to a tight labour market. The report also supported bets for another interest rate hike form the Fed in May. Iron ore continues to fall, reaching the lowest in three months, due to weak demand at the beginning of China’s construction season. In economic data today, Westpac will release its data on consumer confidence for April, and NAB will release its data on business confidence for March. Trading Ideas:Bell Potter have re-initiated coverage on Alicidion (ASX:ALC), an Australian healthcare informatics company. Bell Potter have a speculative buy rating on ALC and a valuation of $0.20 per share. At the current share price of $0.12, this implies 73.9% share price growth in a year. Trading Central have identified a bullish signal in Jumbo Interactive (ASX:JIN), indicating that the stock price may rise from the close of $13.43 to the range of $13.80 to $13.95 over 19 days, according to the standard principles of technical analysis. 

Wall Street closed mixed overnight with the Dow closing 0.2% higher, while the S&P500 closed 0.3% lower and the tech-heavy Nasdaq fell more than 1%. The Nasdaq dropped for the third straight session as investors shifted away from growth stocks amid signs that the US economy is weakening. The losses also followed weak eco data, where the latest ADP private payrolls report showed slowing job growth in March. European markets were also mixed, with the FTSE 100 the only index to close in positive territory. Germany’s Dax, France’s CAC and the Stoxx 600 were all lower. So it seems that investors uncertainly has resurfaced this week, over the global economy outlook. What to watch today:The SPI futures are suggesting the Australian market will open just 0.1% lower this morning. Watch Santos (ASX:STO)’s share price today, as the oil and gas producer is set to hold its AGM. Brickworks (ASX:BKW) is set to go ex-dividend today. In commodities:Oil is trading slightly lower, after being on the rise this week off the back of OPEC’s production cut announcement. Gold is steady at its highest levels in a year, around US$2,020 an ounce, as weak US data fuelled expectations that the Fed may not need to tighten further in the coming months to prevent a recession. Iron ore is at its lowest level since mid-January as the concerns continue of the low demand at the start of China’s peak construction season. In economic data, Balance of Trade data for February will be out at 11:30am AEST. The last time this data was announced, Australia’s trade surplus declined to $11.69 billion in January, from a downwardly revised $12.99 billion in December, with exports rising less than imports. Trading Idea:Bell Potter maintains a Buy rating on IPD Group (ASX:IPG), a leading distributor of electrical equipment and industrial digital technologies. They have increased their price target from $3.50 to $4.00. The broker says that IPD is set for two consecutive years of approximately 15% volume growth. Their EPS changes across FY23-25 estimates are +4-6% and they say the company has a large future runway of replacement demand as incentives behind the electrification of buildings infrastructure, transport and logistics sectors continue to evolve. 

US equities closed lower overnight. The Dow Jones fell nearly 200 points as investors assessed what the spike in oil prices could mean for the global economy. The S&P500 closed 0.6% lower; both the Dow and S&P500 snapped a four-day win streak. The Nasdaq closed 0.5% in the red. Also prompting the market losses was the latest job openings report out in the US, which saw that the number of available positions in February dropped below 10 million for the first time in almost two years. European stocks were marginally lower. The oil and gas sector declined following the announcement earlier this week by OPEC; they’re cutting output by over a million barrels of oil per day, starting from May. Investors are now focusing on demand trends and the impact of higher prices on the global economy. Also overnight, we saw the British pound trade higher against the US dollar throughout the session and hit a 10-month high. This followed the Bank of England’s chief economist warning that “domestically-generated inflation remains a risk” and that the fall in US job openings suggests that the Fed’s aim of slowing the labour market is taking effect. What to watch today:After global markets closed in negative territory overnight, the SPI futures are suggesting that our local market will fall 0.18% at the open this morning. A few stocks to watch today include Novonix (ASX:NVX) and Scentre Group (ASX:SCG) both holding their AGMs today. While stocks going ex-dividend today include ARB Corporation (ASX:ARB), Imdex (ASX:IMD) and Ridley Corporation (ASX:RIC). Remember this often sees share prices fall, as investors take their profits. In economic news, today the RBA Governor Phillip Lowe will give a speech, following yesterday’s cash rate decision, with the RBA holding the cash rate at 3.6% for the first time in 10 months. In commodities:Oil prices continue to rise, underpinned by the surprise production cut announcement by OPEC. The price of gold has reached its highest level since March 2022, after the US jobs opening data pointed to a slowdown in the labour market, which suggests that the Fed may not need to raise rates. Iron ore is currently trading almost 3% lower at US$123.50 per tonne, approaching a two-month low, amid underwhelming demand in the Chinese peak construction season, as well as signs of increased speculatory control. So, keep watch of iron ore stocks today. Trading Idea:Bell Potter maintain a Speculative Buy rating on Chalice Mining (ASX:CHN), after the miner announced a major resources upgrade for the Gonneville deposit, at its 100% owned Julimar Nickel-Copper Platinum Group Elements (PGE) project, which is approximately 70km north of Perth. Bell Potter says that the “project represents a unique opportunity to establish a new, strategic, long-life, low-cost PGE and base metals supply in a top mining jurisdiction. It’s partly because of the inclusion of PGE’s nickel and cobalt on Australia’s and the USA’s critical minerals lists, due to their role in the lithium-ore battery and hydrogen fuel cell production value chain and Russia’s market dominance. The company’s latest update exceeded Bell Potter’s expectations and they have lifted their valuation by 8% to $12. At CHN’s current share price of $7.25, this implies 65.5% share price growth in a year. 

In New York overnight, the Dow Jones closed 300 points higher or 0.98%, to begin April’s trading. The S&P500 saw its fourth straight day of gains, closing 0.37% in the green, while the Nasdaq closed 0.3% lower. US investors showed resilience despite an oil output cut from OPEC.Oil prices notched their biggest gain in nearly a year after OPEC announced it was cutting output by more than 1 million barrels per day. The cuts begin in May and run until the end of this year. Saudi Arabia have said that it was a “precautionary measure” targeted toward stabilising the oil market. Oil is current trading 6.28% higher at US$80.42 per barrel. This announcement complicates the outlook for inflation and interest rates, as investors had been betting that easing price pressures would give central banks room to pause the current tightening cycle. So, energy shares will be on watch today; some include Beach Energy (ASX:BPT), Woodside Energy (ASX:WDS) and Santos (ASX:STO). Also in commodities, natural gas has hit its lowest level since September 2020, pressured by weak demand due to high temperatures and ample inventories. The price of gold is steady, while iron ore has rebounded on expectations of strong demand as China enters the spring construction season. What to watch today:The Australian market is set to open just 0.06% higher this morning, if you’re going by the SPI futures. In economic news, the RBA will announce its next cash rate decision. The Commonwealth Bank and Westpac have forecast the RBA will pause hiking the cash rate this month, and hold it at 3.6%, only to increase again in May, while NAB and ANZ predict a further 0.25% hike today. Trading Ideas:Trading Central have identified a bullish signal in Link Administration (ASX:LNK) indicating that the stock price may rise from the close of $2.13 to the range of $2.51 to $2.59 over 44 days, according to the standard principles of technical analysis. 

Wall Street extended gains into a third straight session on Friday and the US market posted a second straight quarter of gains despite turbulence during the three-month period around the unfolding of a potential global banking crisis. On Friday the Nasdaq rose 1.7%, the Dow Jones added over 400 points and the S&P500 rose 1.4%. Sentiment in the US was boosted last week by US core personal consumption expenditures price index, the Fed’s preferred measure of inflation, coming in below expectations at 4.6% in yet another sign inflation has peaked in the US. For the quarter the tech-heavy Nasdaq soared 17.6% as investors regain appetite for growth stocks, while the Dow Jones rose 0.4% and the S&P500 added 7.4%.Over in Europe markets closed higher again buoyed by headline inflation cooling to 6.9% in March from 8.5% in February, a preliminary report showed. Germany’s DAX added 0.7%, the French CAC added 0.81% and, in the UK, the FTSE100 rose 0.15%. For the quarter, the STOXX600 added 7.05% despite a few weeks of banking turmoil.The ASX ended Friday’s session up 0.78% driven by a 1.88% rise in materials stocks, while healthcare stocks added 1.09% in the last trading session of the week. For the week, the key local index rose 3.20% as global fears of a banking crisis continued to ease.What to watch today:The strength overseas for the last quarter drives the SPI futures to anticipate the ASX to open 0.63% higher to start the new trading week and month.On the commodities front oil is trading 6.77% higher at US$80.87/barrel after OPEC oil producers announced a surprise cut in oil output to support market stability following the recent dive in oil prices. Saudi Arabia is cutting its output by 500,000 barrels per day while Iraq is cutting by 211,000 barrels per day, among other countries making cuts to output. Gold is trading down 0.73% at US$1965.73/ounce and iron ore is up almost 0.8% at US$127/tonne.The Aussie dollar is buying US$0.67, 88.93 Japanese Yen, 54.89 British Pence and NZ$1.07.Trading Ideas:Bell Potter has downgraded its rating on The A2 Milk Company (ASX:A2M) from a buy to a hold, and reduced the price target on the dairy company from $7.65 to $6.80 following the company’s infant formula producer, Synlait Milk (ASX:SM1), downgrading its earnings guidance and pushing out its expected GB registration in China. Bell Potter sees the balance dates between A2M and SM1 don’t align, as well as cost of goods sold being expected to rise in FY24.Trading Central has identified a bearish signal on TPG Telecom (ASX:TPG) on the 25th of March, following the formation of a pattern over a period of 20-days which is roughly the same amount of time the share price may fall from the close of $4.81 to the range of $4.47 to $4.55 according to standard principles of technical analysis.

The Aussie share market advanced 2.4% (Mon-Thu), driven by the materials sector jumping 5.04%, amid increasing commodity prices. Utilities and energy stocks also jumped over 3% each. The ASX200 felt some relief this week, after a few weeks of turbulence, as investor fears of a global banking crisis eased when regulators and industry bodies stepped in to support crumbling banks.   In this week's wrap, Grady covers:(3:10) The outlook for oil prices (3:30) Stocks Bell Potter are bullish on(4:24) The best performing stocks in the ASX200(5:57) The most traded stocks & ETFs by Bell Direct clients(6:35) Four economic news items to watch out for 

The rally on Wall Street continued overnight as investor fears of a regional and global banking crisis continued to ease as President Biden urged federal regulators to take up a set of reforms to safeguard the banking system.Weekly jobless claims in the US increased by 7000 to 19,800, in yet another sign the Federal Reserve’s aggressive interest rate action to tackle inflation in the US is starting to take effect. The rise in jobless claims is also another sign the fed could begin easing its rate hike stance. The Dow Jones closed 0.43% higher on Thursday while the S&P500 added 0.57% and the tech-heavy Nasdaq rose 0.73%.Over in Europe, markets continued to rally as investor fears of a banking crisis also continued to ease in the region. UBS shares jumped 3.4% again on Thursday as investors responded to the news of Sergio Ermotti retaking his position as CEO ahead of the Credit Suisse takeover. Germany’s DAX added 1.26%, the French CAC added 1.06% and, in the UK, the FTSE100 rose 0.74%.Locally yesterday, the ASX jumped 1.02% joining the global rally as banking crisis fears ease, with technology stocks leading the gains yesterday as the sector closed up 1.7%. Materials and Financial stocks also felt some relief yesterday following a week of turbulence in these respective sectors.What to watch today: Ahead of the local trading session here in Australia the SPI futures are anticipating the local market to open 0.53% higher, extending on the global rally from the past 2-sessions.Taking a look at commodities, crude oil is trading almost 2% higher at US$74.37/barrel, gold is up 0.81% at US$1979.94/ounce and iron ore is also up 0.8% at US$125.50/tonne. Stocks trading ex-dividend today include Harvey Norman (ASX:HVN), and Russell Investments High Dividend Australian Shares ETF (ASX:RDV). If you’ve been thinking about these stocks, it might be worth considering buying in today as stocks trading ex-dividend generally trade lower on the ex-dividend date.The Aussie dollar is buying US$0.67, 89.05 Japanese Yen, 54.89 British Pence and NZ$1.07.Trading Ideas:Bell Potter has downgraded its price target on Synlait Milk (ASX:SM1) from $3.20 to $2.55 but maintain a buy rating on the company as the dairy company faces a few unknowns in the current environment including whether it can deliver acceptable returns on the new Pokeno nutritionals customer, as well as successfully navigating A2 Milk’s new-GB registration in China. The company also faces higher costs of production due to the volume uplift for the new Pokeno customer.Trading Central has identified a bullish signal on Regis Resources (ASX:RRL) following the formation of a pattern over a period of 26-days which is roughly the same amount of time the share price may rise from the close of $2.00 to the range of $2.17 to $2.21 according to standard principles of technical analysis. 

Wall Street rebounded to rally on Wednesday as investor fears of a global banking crisis continue easing, boosting high growth stocks in the technology sector. Micron led the charge on the Nasdaq after the memory chip company forecast a drop in third quarter revenue in line with Wall Street expectations but gave a positive outlook for 2025 with artificial intelligence predicted to boost sales. The Dow Jones closed the midweek session 1% higher while the S&P500 also rose 1% and the tech-heavy Nasdaq added 1.5%. While the banking system stresses are far from over, analysts at the Bank of America said ‘banking system stresses remain high but there are some signs of stabilisation’.Over in Europe markets also rebounded to close higher across the board. Investor fears of large bank collapses in the region are easing, especially after UBS announced former Chief Executive Sergio Ermotti will return as Chief Executive to guide the takeover of Credit Suisse, coming in to replace Ralph Hamers. The return of Ermotti sent shares in UBS up 3.72% on Wednesday. Germany’s DAX added 1.23% on Wednesday, while the French CAC rose 1.39% and, in the UK, the FTSE100 rose 1.07%.Australia’s consumer price index data for February out yesterday showed the country’s inflation rate rose 6.8% in the year to February 2023, which is the second consecutive month of disinflation from the peak inflation rate of 8.4% in December 2022, and is an eight-month low for the inflation indicator. The most significant contributors to the annual increase seen in February were Housing up 9.9%, food and non-alcoholic beverages up 8%, transport up 5.6% and recreation and culture up 6.4%. Inflation falling to 6.8% in February from 7.4% in January provides further evidence that consumer prices have peaked, especially ahead of the RBA’s interest rate meeting next week. Consensus were expecting a rise of 7.1%, so inflation coming in lower than expectations supports the notion for a pause in rate hikes at the RBA’s meeting next week.The local index rose 0.23% yesterday as investor sentiment was boosted by the slowing of inflation growth in the country. The materials and energy sectors topped the gains on the local index yesterday with each adding over 1.2% on the back of rising commodity prices and boosted global demand outlook for key commodities.What to watch today:Ahead of the local trading session here in Australia the SPI futures are anticipating the ASX to open 0.68% higher on the back of that global rally overnight.On the commodities front this morning, oil is trading 0.31% lower at US$72.97/barrel, gold is down almost half a per cent at US$1964/ounce and iron ore is up 1.63% at US$124.50/tonne.The Aussie dollar is buying US$0.67, 88.79 Japanese Yen, 54.89 British Pence and NZ$1.07.Trading Ideas:Bell Potter has increased it’s price target on Liontown Resources (ASX:LTR) from $2.81 to $3.35 and maintain a speculative buy rating on the lithium producer following the company announcing it has received and rejected a takeover offer worth $5.5bn from the world’s largest lithium producer, Albermarle. The corporate interest in Liontown Resources from a high-profile US-based industry participant speaks to the quality of Liontown’s Kathleen Valley project.Trading Central has identified a bullish signal on Piedmont Lithium (ASX:PLL) following the formation of a pattern over a period of 27-days which is roughly the same amount of time the share price may rise from the close of $0.82 to the range of $1.05 to $1.11 according to standard principles of technical analysis.

A number of Australian economists are now expecting a 25-basis point rate hike in April following the release of Australian retail sales data for February indicating a rise of 0.2% for the month or 6.4% from February 2022, on the back of a 1.8% rise in January. The retail data shows consumers are still spending despite the increasing cost of living pressures down under, with $35.14bn spent last month. Department stores had the biggest increase in monthly turnover, while household goods retailing remained flat which isn’t great news for the likes of Temple & Webster (ASX:TPW) and Nick Scali (ASX:NCK).  UBS though, is adamant the RBA won’t hike rates at next week’s meeting but will instead hike by 25-basis points in May. Australia’s consumer price index or inflation data is out today for February which will give a greater insight into how successful the RBA’s monetary tightening policy has been to date and will give the RBA a better idea of whether a pause or hike is most appropriate at next week’s interest rate meeting.Locally yesterday, the ASX rallied 1.04% led by a surge in energy stocks, with the sector jumping over 4%. Lithium mining and production companies felt some much-needed relief yesterday following a recent sell-off amid declining demand outlook. The reason for yesterday’s boost in lithium stocks was due to lithium giant Liontown Resources (ASX:LTR) announcing it had received and rejected a takeover offer from Abermale, the world’s largest lithium producer, in a deal worth $5.5bn on the grounds of the offer substantially undervaluing Liontown and its assets. The announcement sent shares in Liontown soaring 68.5%.Over in New York, Wall St had a mixed session on Tuesday as rising bond yields placed pressure on high-growth technology stocks. The yield on the 2-year U.S. Treasury note climbed back above 4%, which makes future profits for growth companies, less attractive as higher rates mean that earnings years from now are worth less today. The Dow Jones ended Tuesday’s session down 0.12% while the S&P500 lost 0.16% and the tech-heavy Nasdaq took the biggest hit ending the session down almost half a percent.In Europe overnight, investor concerns over the unfolding banking crisis in the region led to a muted trading day across the key markets in Europe. Germany’s DAX closed up just 0.09%, the French CAC added 0.14% and, in the UK, the FTSE100 rose just 0.17%.What to watch today:Ahead of the local trading session the SPI futures are anticipating the local market will open 0.37% lower to start the midweek trading session.On the commodities front, oil has advanced 1.10% to trade at US$73.6/barrel amid supply concerns held after a legal dispute halted around 400,000 barrels a day of oil exports from the Ceyhan Port in Turkey this week. Gold is up 0.84% at US$1973/ounce and iron ore is flat at US$122.50/tonne.The Aussie dollar is buying US$0.67, 87.58 Japanese Yen, 54 British Pence and NZ$1.07.Trading Ideas:Bell Potter has downgraded its rating on United Malt Group (ASX:UMG) from a buy to a hold and have significantly increased the price target on the company from $4.25 to $5.00 following the company announcing it has entered into a process and exclusivity deed with Malteries Soufflet for the takeover of UMG in a deal worth $1.5bn. Bell Potter sees the takeover offer and subsequent share price rise by 30% after the announcement well exceeds Bell Potter’s passive valuation for UMG and therefore justifies the downgrade to a hold from a buy rating.Trading Central has identified a bullish signal on AMP Limited (ASX:AMP) following the formation of a pattern over a period of 27-days which is roughly the same amount of time the share price may rise from the close of $1.06 to the range of $1.17 to $1.19 according to standard principles of technical analysis.

Wall Street ended Friday’s session on a positive note as investors responded to the Fed’s interest rate hike of 0.25% and signals that the Fed is near the end of its monetary tightening cycle. The positive sentiment boost from the Fed was a much-needed relief following a week of turbulence in the global banking sector. The Dow Jones rose 0.41%, the S&P500 added 0.56% and the tech heavy Nasdaq jumped 0.3%.Over in Europe, it was a different story with markets in the region ending lower on Friday as investor fears of a global banking crisis worsened. Deutsche Bank fell 8.5% on Friday after its credit default swaps, a form of insurance for bond holders, pushed higher. Germany’s DAX fell 1.66%, the French CAC lost 1.74%, and in the UK, the FTSE100 fell 1.26%.What to watch today:Ahead of the local trading session the SPI futures are anticipating the ASX to open 0.04% lower to start the new trading week.Locally, the ASX ended almost 0.2% lower on Friday, weighed down by a sharp sell-off in financials stocks, and for the week the key index lost 0.57%. Block Inc (ASX:SQ2) was the worst performing stock on the local bourse in the final trading session of the week on claims made by famed short-seller Hindenburg Research, that the company is committing widespread fraud.On the commodities front to start the week, oil is trading lower again, down 1% at US$69.26/barrel, gold is down 0.75% at US$1978.57/ounce and iron ore is up 0.41% at US$122.50/tonne.The Aussie dollar is buying US$0.67, 86.85 Japanese Yen, 54.89 British Pence and NZ$1.07.Stocks trading ex-dividend today include Australian Clinical Labs (ASX:ACL), and Lycopodium (ASX:LYL). If you’ve been thinking about these stocks, it might be worth considering buying in today as stocks trading ex-dividend generally trade lower on the ex-dividend date.There is no local economic data released today however investors will be eagerly awaiting the release of preliminary Australian retail sales data for February, which is out tomorrow, with consensus expecting a rise of 0.5% from a 1.9% jump in January.Trading Ideas: Bell Potter has increased its price target on Aeris Resources (ASX:AIS) from $0.92 to $0.95 and maintains a buy rating on the company following the copper production and exploration company discovering a new massive sulphide lens at the Bentley deposit at the company’s 100%-owned Jaguar Operations in WA.Trading Central has identified a bullish signal on Lifestyle Communities (ASX:LIC) following the formation of a pattern over a period of 35-days which is roughly the same amount of time the share price may rise from the close of $15.03 to the range of $20 to $21 according to standard principles of technical analysis.

The Aussie share market declined 0.37% (Mon-Thu), following the recent US banking system turmoil. Additionally, the Federal Reserve increased the Fed Funds Rate by 0.25% to 4.75% - 5%, announcing a continued commitment to quantitative tightening. In this week's wrap, Sophia covers:(0:39) Fed projections for the Fed Funds Rate (FFR)(1:33) The growing banking crisis (2:22) The sale of Credit Suisse to UBS(3:14) The best performing stocks in the ASX200(4:42) The most traded stocks & ETFs by Bell Direct clients(5:21) Two economic news items to watch out for

Following a volatile trading session overnight, US equities closed higher, as investors bet that the Federal Reserve may be nearing the end of its rate hiking cycle. The Dow and the S&P500 rose 0.2% and 0.3% respectively, while the Nasdaq closed just over 1% higher, as tech stocks outperformed. European markets were lower as the Bank of England joined the Fed in hiking rates. The UK central bank announced another 25-basis point rise and the Stoxx 600 closed down 0.2%. The banking sector led losses throughout the session. Construction and oil and gas stocks also declined, while tech stocks rallied in Europe as well. What to watch today:The broad tech rally made way to renewed selling in regional banking stocks, which sees the SPI futures suggesting the Australian market will drop 0.55% at the open this morning. Technology stocks may follow the Nasdaq’s rally, with investors reducing their bets on the Fed’s next hike, and as US Treasury yields decline. Tech stocks are sensitive to interest rates, so this saw tech hit the hardest as the Fed consecutively raised rates. Therefore, the turn lower in rates this month is causing investors to rotate back into tech stocks. And this may have a positive impact on ASX-listed tech shares today. In commodities: Oil has dropped once again, weighed down by weak global sentiment. The price of gold is trading over 1.2% higher and has reached its highest level in one year, at US$1,993.90 per ounce, as investors continued to digest the Fed’s March meeting and risks to the global banking system. Iron ore has tumbled, currently trading 2.8% lower at US$123.50 per tonne, the lowest level in over a month. The iron ore price has been pressured by weaker demand from steel producers and increased control of speculatory prices. There have also been reports indicating that China will cut its domestic steel output by 2.5% this year. That would mark the third consecutive annual decline and of course China is one of the top producers. Trading Ideas: Bell Potter have upgraded their recommendation on Eagers Automotive (ASX:APE) from a Hold to a Buy, with a price target of $15.25, where the total expected return is over 15%. A potential catalyst to support the upgrade on the leading automotive retailer, are increased sales of BYD vehicles over the coming months, following the joint venture of Eagers Automotive and BYD, which is an electric car dealership.  And Trading Central have identified a bullish signal on PWR Holdings (ASX:PWH) indicating that the stock price by rise from the close of $9.65 to the range of $12.20 to $12.70 over 27 days, according to the standard principles of technical analysis. 

The Federal Reserve has announced a further 25 basis point rate hike, and although this was widely expected, the US stock market declined with all three major benchmarks closing around 1.6% lower. The Fed also acknowledged turmoil in the banking sector could slow the already fragile economy, which share US bank shares slide. What to watch today:The SPI futures are suggesting that our local market will drop 0.74% at the open this morning, following Wall Street’s lead. In commodities: The oil price continues to regain last week’s losses, after data out from the US Energy Information Administration showed a surprise build in US crude stocks and large draws in other fuels like gasoline. Also, the US oil benchmark is 5% higher this week, as the Treasury Secretary Janet Yellen said the government would be willing to take further action to protect deposits. Watch ASX energy shares today. The price of gold over 1.5% higher and is heading toward a one-year high, as investors weighed on the Fed’s dovish tone in its policy decision. This may see gold miners rise, such as Regis Resources (ASX:RRL), Newcrest Mining (ASX:NCM), Northern Star Resources (ASX:NST) or Evolution Mining (ASX:EVN). Iron ore has dropped more than 1%, extending the retreat from the nine-month high hit last week, amid increased control of speculatory prices and curbs for major steel producers.   Watch the share price movements of Brickworks (ASX:BKW) which is set to release an earnings report today. Trading Ideas:Bell Potter maintains a Buy rating on EROAD (ASX:ERD) with modest downgrades to their forecasts post the company’s guidance u[date provided late last month and their investor day held this week. Bell Potter have decreased their price target, down 32% to $1.50, after updating each valuation used in the determination of their price target for the forecast changes, as well as market movements and time creep. The $1.50 target is still an over 100% premium to the current share price of $0.64. Trading Central have identified a bullish signal in AGL Energy (ASX:AGL), indicating that the stock price may rise from the close of $7.07 to the range of $7.30 to $7.36 over 22 days, according to the standard principles of technical analysis. 

Wall St rallied again on Tuesday as investor optimism about the banking crisis recovering lifted stocks in the US, with shares of banks leading the charge on the second trading session this week. Investors also responded to the efforts of the US and Europe to stabilise the global banking system. The Dow Jones rose just under 1%, the S&P500 added 1.3% and the tech-heavy Nasdaq rose 1.6% on Tuesday.Investors now shift focused to the all-important FOMC meeting in the US this week where it is anticipated the Fed will announce a 25-basis point rate hike at the conclusion of the meeting on Thursday morning Australian time.Overnight in Europe, markets closed higher as investor fears of a global banking crisis settled following UBS’ takeover of rival bank Credit Suisse. Germany’s DAX rose 1.75%, the French CAC added 1.42% and, in the UK, the FTSE100 added 1.8%.On the local index yesterday, the RBA’s latest meeting minutes being released hinted that a rate pause is being considered for April which fuelled a rally on the local bourse. The ASX closed 0.82% higher on Tuesday buoyed by optimism from the release of the RBA’s minutes and on the back of the global rally that started the week on a positive note.It has been a big week on the M&A front – Ramelius Resources (ASX:RMS) lobbed a takeover offer at Breaker Resources (ASX:BRB), and Australian Clinical Labs (ASX:ACL) launched a takeover offer at Healius (ASX:HLS), with the deal creating the nation’s largest pathology services provider, should it go ahead. And just yesterday Andrew Forrest’s Wyloo Metals made a $760m takeover offer for nickel producer Mincor Resources (ASX:MCR), sending shares in Mincor rocketing 42% during the session, as Forrest looks to expand his presence in the battery metal space.What to watch today: Ahead of the local trading session the ASX is poised to open 0.9% higher on the back of the global rally overnight.On the commodities front this morning crude oil has recovered some ground from its tumble over the last week to trade 2.7% higher this morning at US$69.66/barrel, gold is down almost 2% at US$1940/ounce and iron ore is down 2.65% at US$128.50/tonne.The Aussie dollar is buying 67 US cents, 88.26 Japanese Yen, 54.89 British Pence and 1 New Zealand dollar and 8 cents.Stocks trading ex-dividend today include Myer (ASX:MYR), Seek (ASX:SEK) and Supply Network (ASX:SNL). If you’ve been thinking about these stocks, it might be worth considering buying in today as stocks trading ex-dividend generally trade lower on the ex-dividend date.Trading Ideas:Trading Central has identified a bearish signal on DDH1 (ASX:DDH) following the formation of a pattern over a period of 90 days which is roughly the same amount of time the share price may fall from the close of $0.82 to the range of $0.65 to $0.69 according to standard principles of technical analysis.Trading Central has also identified a bearish signal on Metcash Limited (ASX:MTS) following the formation of a pattern over a period of 450 days which is roughly the same amount of time the share price may fall from the close of $3.79 to the range of $2.50 to $2.80 according to standard principles of technical analysis.

The ASX tumbled to a four-month low yesterday, ending the session down 1.4%, in the wake of the global banking crisis taking a new turn with global investment bank UBS agreeing to takeover troubled Swiss lender Credit Suisse. Investors are also eyeing off the all-important FOMC meeting in the US where it is expected the Federal Reserve will announce a 25-basis point rate hike at the conclusion of the meeting on Thursday morning Australian time. Locally, the energy sector was again the worst performing sector to start the week as commodity prices continue to plummet as the prospect of slower economic growth due to a banking crisis induces investor fears of a recession and weakened demand outlook for commodities. Despite the unravelling of weakness in the global banking system, Australian banks hold some of the strongest positions in capitalisation and liquidity management globally due to tight governance from the regulatory body, APRA. This tight scrutiny has proved successful in maintaining strength for Australian banks during key events including the GFC and pandemic.A welcome relief rally started the week on a positive note for US investors as Wall St closed higher across the key indices on Monday. Investor sentiment was boosted by hopes that the global banking crisis may be easing after UBS agreed to take over troubled lender Credit Suisse. The Dow Jones closed up 1.2%, the S&P500 rose 0.9% and the Nasdaq added 0.4%. We may see sentiment shift later this week though after the Fed hands down its interest rate decision for the month ahead.Over in Europe, markets rallied to start the new week, also boosted by UBS’ takeover of Credit Suisse, with UBS chairman Colm Kelleher saying the acquisition is ‘attractive’ for UBS shareholders. Germany’s DAX rose 1.12%, the French CAC added 1.27% and, in the UK, the FTSE100 rose almost 1% to start the week.What to watch today:Ahead of the local trading session the SPI futures are anticipating the ASX to open 0.65% higher on the back of the global rally overnight.On the commodities front oil has rebounded this morning to trade 1.35% higher at US$67.64/barrel, gold is down 0.64% at US$1975/ounce and iron ore is flat at US$132/tonne.Looking at the Aussie dollar, AU$1.00 is buying US$0.67, 88.18 Japanese Yen, 54.89 British Pence, and NZ$1.08.Stocks trading ex-dividend today include Latitude Group (ASX:LFS), Reece (ASX:REH), Cochlear (ASX:COH), Credit Corp Group (ASX:CCP) and Brisbane Broncos (ASX:BBL). If you’ve been thinking about these stocks, it might be worth considering buying in today as stocks trading ex-dividend generally trade lower on the ex-dividend date.Trading Ideas:Trading Central has identified a bullish signal on AGL Energy (ASX:AGL) following the formation of a pattern over a period of 17-days which is roughly the same amount of time the share price may rise from the close of $7.11 to the range of $7.24 to $7.30 according to standard principles of technical analysis.Trading Central has identified a bearish signal on Viva Energy Group (ASX:VEA) following the formation of a pattern over a period of 28-days which is roughly the same amount of time the share price may fall from the close of $2.79 to the range of $2.48 to $2.54 according to standard principles of technical analysis.

The global banking crisis took an historical turn this morning with investment bank, UBS, agreeing to buy Credit Suisse Group in a deal worth $4.5 billion to restore investor confidence in the global banking sector. The crisis worsened on Friday after a fourth bank, the First Republic bank, received a US$30 billion lifeline from a group of big banks including Goldman Sachs and Bank of America, after customers began withdrawing their deposits from First Republic bank amid the collapse of SVB. Shares in First Republic Bank tumbled 33% on Friday to close the week down 72%. On Friday, the Dow Jones closed 1.2% lower, the S&P500 fell 1.1% and the Nasdaq closed down 0.74%. For the week though the Nasdaq rose 4.41% as investors bet on technology and growth stocks ahead of the FOMC meeting this week.Over in Europe, markets closed lower on Friday as investors digest the fallout from Credit Suisse accepting financial help to stabilise the banking system. Germany’s DAX fell 1.33% on Friday while the French CAC lost 1.43% and in the UK the FTSE100 shed just over 1%.In Australia, markets closed 0.42% higher on Friday but 2.1% down for the week as the local index was caught up in the global banking crisis driven sell-off. What to watch today:In commodities, oil Is trading 2.36% lower at US$66.74/barrel, gold is up almost 3.6% at US$1988.08 and iron ore is flat at US$132/tonne.The Aussie dollar has slightly strengthened to buy US$0.67, 88.53 Japanese Yen, 54.89 British Pence and NZ$1.07.Ahead of the local trading session the SPI futures are anticipating the ASX to open 1.4% lower as investor sentiment continues to ride on the unfolding global banking crisis.Stocks trading ex-dividend today include HUB24 (ASX:HUB), Adairs (ASX:ADH), and Duratec (ASX:DUR). If you’ve been thinking about these stocks it might be worth considering buying in today as stocks trading ex-dividend generally trade lower on the ex-dividend date.Trading Ideas: Bell Potter has downgraded its price target on Synlait Milk (ASX:SM1) from $4 to $3.20 but maintain a buy rating on the company. The downgrade in price target comes after the company downwardly revised FY23 NPAT expectations relative to market expectations ahead of its 1H23 result. NPAT guidance has been downwardly projected to now be $15-$25m NZ dollars, which is much lower than Bell Potter’s expectations of a forecasted NZ$35.8m and consensus expectations of NZ$50m. Major drivers of the change in NPAT forecast from the company have been attributed to order deferrals from major IMF customers, inflationary cost pressures, lower milk production and higher working capital costs.Trading Central has identified a bearish signal on Ansell (ASX:ANN), following the formation of a pattern over a period of 40-days which is roughly the same amount of time the share price may fall from the close of $26.14 to the range of $20.90 to $21.80 according to standard principles of technical analysis.

The Aussie share market declined 2.5% (Mon-Thu), led by a 7.2% dive in energy stocks on the back of tumbling commodity prices. The price of oil was down nearly 12% this week, driven by turmoil in the global banking sector. On the flip side Healthcare stocks provided great opportunity for investors, adding 0.74% this week so far. In this week's wrap, Grady covers:(0:38) The Silicon Valley Bank collapse(1:30) The US$10 billion in deposits withdrawn from Signature Bank(2:22) Credit Suisse's liquidity issues(4:48) The best performing stocks in the ASX200(5:46) The most traded stocks & ETFs by Bell Direct clients(6:21) Two economic news items to watch out for

Global markets advanced after Credit Suisse announced that it’ll borrow up to nearly $54 billion from the Swiss National Bank to assure short-term liquidity. Despite concerns weighing on the banking sector, all three US indexes closed in the green, on pace to end the week higher. The Nasdaq was up the most, rallying 2.5%. Investors also followed the announcement of a further rate hike of 50-basis points from the European Central Bank. What to watch today:Following the rebound overnight, our local market is set to open 0.39% higher, according to the SPI futures. In commodities, oil has slightly rebounded, following a heavy drop. Oil hit an over one-year low of around US$66 in the prior session. Gold is trading flat, at a strong six-week high, as the risk-off mood continues, while iron ore is on a steady rise, current at its highest level in nine months. While there’s no local economic data out today, tonight we’ll be watching out for the CPI announcement in Europe. Trading Ideas:Bell Potter maintains a Buy rating on Telix Pharmaceuticals (ASX:TLX) with a price target of $9.00. At TLX’s current share price of $6.86, this implies 31.2% share price growth in a year. Bell Potter have also downgraded their recommendation on Appen (ASX:APX) from a Hold to a Sell, based on valuation, as well as a lack of visibility due to the relatively low level of recurring revenue and uncertainty over customer spend. Bell Potter says the risk to their downgrade is any developments announced when the results of a strategic review are released in May, however they see no quick fix to the lack of visibility. Their price target of $2.25 is now a 13% discount to the share price of $2.60. 

The local market rallied 0.86% yesterday as investors regained confidence was restored by a rally on Wall Street on Tuesday. Information technology stocks led the local rally yesterday, while energy stocks were sold off amid a decline in commodity prices. The best performing stocks on the local index yesterday were led by Pexa Group (ASX:PXA) jumping over 6.4%, Link Administration Holdings (ASX:LNK) rallying almost 6% and Coronado Global Resources (ASX:CRN) lifting 5.44%. On the losing end of the market, Imugene (ASX:IMU) fell 4%, Evolution Mining (ASX:EVN) shed 3.2% and Lovisa (ASX:LOV) lost 3.05%.Wall Street took a dive on Wednesday amid further turbulence in the banking sector as leading bank Credit Suisse said earlier this week that it has found “certain material weakness in our internal control over financial reporting for 2021 and 2022”. The concerns out of Credit Suisse prompted the Swiss regulator to say it would give the country’s central bank Credit Suisse liquidity if necessary. Credit Suisse shares closed the midweek session down over 24%. Stocks recovered some ground in afternoon trade but the Dow Jones ended the day down 0.87%, and the S&P500 lost 0.7% but the tech-heavy Nasdaq actually rose 0.05% on Wednesday. US retail sales data out overnight also showed retail spend dropped 0.4% in February as consumers pulled back in spending amid rising interest rates and higher cost of living pressures. Consumers spent less on restaurants and department stores and more on staples goods retail. The Credit Suisse saga is the latest in the global financial sector turmoil following two U.S. banks collapsing earlier this week.Over in Europe, markets had their worst session since Russia initiated war with Ukraine back in February 2022, as investors responded to the concerns out of banking giant Credit Suisse. The bank dropped to the bottom of the blue-chip index after its biggest lender, the Saudi National bank said it would not be able to offer it more financial help. The STOXX600 closed over 3% lower, Germany’s DAX fell 3.27%, the French CAC lost 3.58%, and in the UK, the FTSE100 tumbled 3.83%.What to watch today:On the commodities front crude oil has tumbled over 4% overnight to trade at US$68.43/barrel amid the turmoil across the global banking sector. Gold is trading 0.81% higher at US$1917/ounce and iron ore is up 0.4% at US$133.50/tonne.The Aussie dollar is buying US$0.66, 88.20 Japanese yen, 55.03 British pence and NZ$1.07.Ahead of the local trading session the SPI futures are anticipating the ASX to open 1.68% lower on the back of the global turbulence overnight.Stocks going ex-dividend today include IGO (ASX:IGO), Data#3 Limited (ASX:DTL), Regis Healthcare (ASX:REG), and Embelton (ASX:EMB). If you’ve been thinking about these stocks it might be worth considering buying in today as stocks trading ex-dividend generally trade lower on the ex-dividend date.Trading Ideas:Trading Central has identified a bullish signal on DGL Group (ASX:DGL) following the formation of a pattern over a period of 10-days which is roughly the same amount of time the share price may rise from the close of $1.83 to the range of $2.12 to $2.18 according to standard principles of technical analysis.Trading Central has identified a bearish signal on SRG Global (ASX:SRG) following the formation of a pattern over a period of 30-days which is roughly the same amount of time the share price may fall from the close of $0.71 to the range of $0.64 to $0.66 according to standard principles of technical analysis.

The local index dipped 1.41% amid the fallout from the SVB and Signature collapses in the US sending shockwaves throughout global markets. Investors fear the collapses are sign of what’s to come in the financial sector, which has caused a sell-off in financial stocks and sparked investors to pile into safe-haven assets like gold. The winning stocks yesterday on the ASX were unsurprisingly led by gold miners including Ramelius Resources (ASX:RMS) adding 5.8%, Perseus Mining (ASX:PRU) jumping 4.43% and Silver Lake Resources (ASX:SLR) adding 3.77%. On the losing end of the market, the stocks that weighed the key index down were led by Lake Resources (ASX:LKE) tumbling 8.5%, Novonix (ASX:NVX) falling 8.46% and BrainChip Holdings (ASX:BRN) losing 8%.Investors repositioned out of tech stocks and into defensive stocks yesterday, which can be taken as a sign of fears around what’s to come as interest rates continue rising and the cost of funding growth for companies in the technology sector becomes increasingly unaffordable. Investors are also fearful that the collapse of the banks will not play part in the Fed’s interest rate decision next week, with many anticipating a 25-basis point rate hike, while some analysts are even expecting a 50-basis point rate hike to be announced. Consumer and business confidence for March and February respectively were released yesterday, with confidence sliding for both consumers and businesses in the respective months as interest rates continue rising and place increased financial pressure on consumers and businesses alike. Regulators find themselves in a difficult position in the U.S. They need to raise interest rates to curb inflation however, raising interest rates exacerbates the issue facing U.S. banks. US annual inflation data was released overnight for the month of February and came in at 6%, the lowest level since September 2021 and down from 6.4% in January, in a sign the Federal Reserve’s aggressive rate hike stance is taking effect.Wall Street responded positively to the data with the market breaking the recent red streak to close in the green. The Dow Jones rose 1.06%, the S&P500 added 1.68% and the Nasdaq rose 2.14%.Over in Europe, markets also closed higher in response to the release of US inflation data. Investors in the region also bought back into the banking sector following days of selling out in response to the SVB collapse. Germany’s DAX rose 1.83, the French CAC added 1.86% and, in the UK, the FTSE100 rose 1.17%.What to watch today:On the commodities front, oil is trading 3.11% lower at US$72.48/barrel, gold is down 0.33% at US$1907/ounce and iron ore is up almost 2% at US$133/tonne.The Aussie Dollar is buying US$0.67, 89.58 Japanese Yen, 54.84 British Pence and NZ$1.07.Ahead of the local session here in Australia the SPI futures are anticipating the ASX to open almost 1% higher on the back of the global rally overnight.Trading Ideas:Bell Potter has increased the rating on Neuren Pharmaceuticals (ASX:NEU) from a Hold to a speculative BUY and has sharply increased the price target from $8.60 to $13.67 following the US FDA approving Neuren’s US Partner, Acadia Pharmaceuticals drug Trofinetide for the treatment of Rett syndrome in adult and paediatrics two year of age and older.Bell Potter has maintained its hold rating on Infomedia (ASX:IFM) but has increased its price target from $1.35 to $1.45 amid improving outlook for the leading software solutions provider in the automotive industry. The increase in price target is driven by an expected return to double digit cash EBITDA growth in FY24 and FY25 as well as cost control and margin expansion improving the company’s financial performance.

The risks and aftermath of the collapse of Silicon Valley Bank really echoed through markets, with shares ending mostly lower globally. Despite governments taking action to maintain confidence in the banking system, we saw global markets under pressure overnight. The news has also provoked question of whether the Federal Reserve will deliver a larger rate hike of 50-basis points this month.  On Wall Street, financials lagged, as stocks in several regional US banks declined. The Dow dropped for the fifth straight day, the S&P500 was also lower, while the Nasdaq gained. And Treasury yields tumbled, helping to lend some support to equities. What to watch today:Extending these losses, the Australian market is set to drop 1.86% at the open this morning, and that’s according to the SPI futures. In this current market, where are the opportunities? Investors are seeking safety in gold amid the turmoil in the banking sector. The gold price saw a sharp rebound, after hitting its lowest level in over a month, jumping 2.4% higher and it continues to be on the rise. We also know that gold is sensitive to the rates outlook – and the collapse of Silicon Valley Bank has not only divided markets on what the Fed will do with its rate-rising cycle but we’re also awaiting US inflation data out this week. So, keep in mind that higher interest rates lift the opportunity cost of holding non-yielding bullion and vice versa. Bell Potter is bullish on gold at the moment, with buy ratings on Capricorn Metals (ASX:CMM), Regis Resources (ASX:RRL) and Gold Road Resources (ASX:GOR). Looking at other commodities, the oil price has fallen 2.6% amid the broad risk-off day across markets. And iron ore is in the green, approaching an eight month high as investors continue to assess the outlook for Chinese commodities this year. Watch out for Lake Resources (ASX:LKE) today, as the company is set to release its earnings report. News Corporation (ASX:NWS) and Coronado Global Resources (ASX:CRN) are set to go ex-dividend, which may see their share prices fall, as investors take their profits. Trading Ideas: Bell Potter have a speculative buy rating on Cluey (ASX:CLU), following the educational technology company’s H1 result and $10.6 million capital raise. Their 12-month valuation has been lowered to $0.50, and at CLU’s current share price of $0.17, this implies 191.5% share price growth in a year. Trading Central have identified a bearish signal in Suncorp (ASX:SUN) indicating that the stock price may fall from the close of $12.36 to the range of $11.90 to $12 over 25 days, according to the standard principles of technical analysis. 

The local market tumbled over 2% on Friday as investors were spooked by comments made and reiterated over a few days by Federal Reserve Chair Jerome Powell that interest rates will need to stay higher for longer, prompting further fears of a global recession. The utilities sector was the only sector to escape the broad market sell-off on Friday. The winning stocks were led by Origin Energy (ASX:ORG) adding 2.45%, while TPG Telecom (ASX:TPG) and Silver Lake Resources (ASX:SLR) each also added over 2%. On the losing end of the market it was a lithium sell-off led by Allkem (ASX:AKE) tumbling 8.6%, while Sayona Mining (ASX:SYA) and Liontown Resources (ASX:LTR) each fell 8%.Wall Street closed sharply lower on Friday as the collapse of tech-focused lender Silicon Valley Bank sent shockwaves through the banking sector. The collapse resulted from losses in the bank’s bond portfolio and is the biggest bank failure since the global financial crisis. The Dow Jones fell 1.07%, the S&P500 lost 1.45% and the tech-heavy Nasdaq fell 1.76% on Friday. It was the worst week since June 2022 for the Dow Jones on Wall St last week, with the major indices capped off the week with losses. The Dow fell 4.44%, the S&P dropped 4.55%, and the Nasdaq lost 4.71%.Over in Europe, markets closed lower on Friday, also led by a sell-off in the banking sector after early news of a capital raise at Silicon Valley Bank leading to the stock collapsing 60%, wiping out over $80bn in value from the bank’s shares.Germany’s DAX fell 1.31%, the French CAC lost 1.3% and, in the UK, the FTSE100 shed 1.67%.What to watch today:Ahead of the local trading session, the SPI futures are anticipating the ASX to open down 0.55% following the global sell-off that ended last week on a sour note.On the commodities front this morning, crude oil is up 1.27% at US$76.68/barrel, gold is up just under 2% at US$1867/ounce and iron ore is up 1.16% at US$130.50/tonne.The Aussie dollar is buying US$0.66, 88.93 Japanese yen, 54.58 British pence and NZ$1.08.Stocks trading ex-dividend today include Dusk Group (ASX:DSK), Chorus (ASX:CNU), and Joyce Corporation (ASX:JYC). If you’ve been thinking about these stocks, it might be worth considering buying in today as stocks trading ex-dividend generally trade lower on the ex-dividend date.Trading Ideas:Bell Potter has upgraded its rating on Platinum Asset Management (ASX:PTM) from a Sell to a Hold but has decreased its price target from $1.68 to $1.66 after the Bell Potter team met with the company and also following the release of the company’s funds under management figures for February showing $18.5bn in FUM, being $153m lower than January, indicating outflows of 0.7%. The increase in Rating to a hold follows management being upbeat about the prospects for the company including strong distribution and position in the market, and higher costs in recent reports being attributed to high bonus payments to staff.Bell Potter has downgraded its price target on Lumos Diagnostics (ASX:LDX) from 10 cps to 6cps but maintain a speculative buy rating on the company following the signing of three service agreements with the potential to provide up to $2.5m in revenue. The price target downgrade is on the back of a reduction in Bell Potter expectations for revenue forecasts for products sold as the new CEO Doug Ward increases focus on the services arm of the company.

The Aussie share market advanced 0.38% (Mon-Thu), shaking off some of the negative offshore macro-economic events. Meanwhile, investors fled energy and materials stocks, as these sectors fell with commodity prices, partly due to a weaker than usual demand out of China.In this week’s wrap, Grady covers:(1:08) Global macro themes impacting investments (2:34) The Fed’s monetary tightening impact on commodities(3:24) Why investors are fleeing small & mid-cap resources stocks(4:21) The best performing stocks in the ASX200(5:18) The most traded stocks & ETFs by Bell Direct clients(5:51) Four economic news items to watch out for

The ASX rose just 0.05% yesterday as a rally for technology stocks offset sharp losses for healthcare, materials and real estate stocks. The winning stocks yesterday were led by Xero (ASX:XRO) charging 10.66% after the cloud-based software company announced it is cutting up to 800 of its staff to manage costs. New Hope Corporation (ASX:NHC) and Whitehaven Coal (ASX:WHC) each added over 5.5% amid the rising price of coal. On the losing end, Imugene (ASX:IMU), and Breville Group (ASX:BRG) each fell over 3% and BrainChip Holdings (ASX:BRN) lost almost 3%.Wall Street has just closed for Thursday’s session with the market responding negatively to Federal Reserve chair Jerome Powell reiterated his comments about the need for the U.S. central bank to keep interest rates higher for longer, on the second day of his testimony to congress. The Federal Reserve chair said that signs of a hotter economy from the start of the year warrant faster rate hikes, prompting investors to believe a 50-basis point rate hike could be lock in for the next month. Next week’s US CPI print remains in focus for investors to gauge if the 50-basis point rate hike could become a reality. The Dow Jones fell 1.66%, the S&P500 fell 1.8% and the Nasdaq lost 2.05%. Powell also say he hasn’t made up his mind about what the central bank will do with regards to rates when it meets later in March.In Europe, markets closed mostly lower after Federal Reserve chair Jerome Powell reiterated his comments. Germany’s DAX closed just 0.1% higher while the French CAC fell 0.12% and, in the UK, the FTSE100 fell 0.63%.What to watch today: Ahead of the local trading session the SPI futures are anticipating the ASX to open 1.11% lower on the back of the Wall St sell-off overnight.Taking a look commodities oil is trading 1.27% lower at US$75.69/barrel, gold is up 0.88% at US$1829.50/ounce and iron ore is down again by 0.4% at US$128.50/tonne.The Aussie dollar is buying US$0.66, 89.68 Japanese Yen, 55.55 British Pence and NZ$1.08.Stocks trading ex-dividend today include Downer EDI (ASX:DOW), WiseTech Global (ASX:WTC), Base Resources (ASX:BSE), and Grange Resources (ASX:GRR). If you’ve been thinking about these stocks, it might be worth considering buying in today as stocks trading ex-dividend generally trade lower on the ex-dividend date.Trading Ideas:Trading Central has identified a bullish signal on Novonix (ASX:NVX) following the formation of a pattern over a period of 20-days which is roughly the same amount of time the share price may rise from the close of $1.60 to the range of $1.74 to $1.78 according to standard principles of technical analysis.Trading Central has identified a bearish signal on Hotel Property Investments (ASX:HPI) following the formation of a pattern over a period of 47-days which is roughly the same amount of time the share price may fall from the close of $3.46 to the range of $3.27 to $3.31 according to standard principles of technical analysis.

The local market closed in the red yesterday, making the RBA-rate announcement rally very short lived as investor sentiment was dampened by Fed Chair Jerome Powell saying interest rates need to go higher for longer in order to tackle the stubbornly high inflation in the US. Energy stocks were the worst performers yesterday amid a dive in commodity prices. Nanosonics (ASX:NAN) outperformed the market yesterday, rising over 7.5% despite no price sensitive news out of the company yesterday, while Ramelius Resources (ASX:RMS) weighed on the market, tumbling almost 11% amid the declining price of gold yesterday.In Europe markets closed mixed as investors continued digesting the remarks made by fed chair Jerome Powell. The STOXX600 closed 0.12% higher, Germany’s DAX added almost half a percent, the French CAC lost 0.2% and, in the UK, the FTSE100 rose 0.13%.Wall Street has just closed, and it was a turbulent session in the US overnight following the release of stronger-than-expected JOLTs and ADP jobs data, in a sign the labour market remains tight in the US, adding yet another reason for the Fed to continue its monetary tightening policy for longer. The number of job openings in the US fell by 410,000 to 10.824 million in January, above market expectations of a decline to 10.5 million. The Dow Jones fell 0.18%, the S&P500 lost 0.14% but the Nasdaq rose 0.4%.What to watch today:Ahead of the local session the SPI futures are anticipating the ASX to open 0.45% higher despite the turbulent session on Wall St overnight.Commodities have been a driver of materials stocks being sold off locally this week, but today we’ve seen a slight rebound in some key commodities. This morning, oil is still trading lower by around 1.6% at US$76.34/barrel, gold is up 0.1% at US$1815/ounce and iron ore is up almost 2% at US$129/tonne.The Aussie dollar is buying US$0.66, 90.50 Japanese Yen, 55.55 British Pence and NZ$1.08.Stocks going ex-dividend today include Mineral Resources (ASX:MIN), Monadelphous Group (ASX;MND), IDP Education (ASX:IEL), Perpetual (ASX:PPT), BHP Group (ASX:BHP), Rio Tinto (ASX:RIO) and CSL Limited (ASX:CSL). If you’ve been thinking about these stocks it might be worth considering buying in today as stocks going ex-dividend generally trade lower on the ex-dividend date.Trading Ideas:Bell Potter has upgraded the price target on Avita Medical (ASX:AVH) from $4.20 to $5.60 and maintain a buy rating on the company following the company announcing a major upscaling of its US sales force and ahead of FDA label expansion approval due in June for trauma and vitiligo. Bell Potter sees the company has a strong balance sheet and a solid revenue base in the existing burns business, to fund expansion and upscaling in the US.Trading Central has identified a bullish signal on Nanosonics (ASX:NAN) following the formation of a pattern over a period of 34-days which is roughly the same amount of time the share price may rise from the close of $4.87 to the range of $5.70 to $5.90 according to standard principles of technical analysis.

The ASX rallied 0.5% yesterday following the rate hike announcement as investor sentiment was boosted by hopes that the RBA is approaching the end of its tightening cycle. Every sector aside from materials stocks closed in the green yesterday. The winning stock yesterday by a mile was InvoCare (ASX:IVC) rocketing over 34% after the funeral company received a takeover offer from TPG Global at the value of $12.65 cash per share. TPG snapped up a 17.8% stake in InvoCare on Monday before making the takeover offer worth $1.8 billion.Overnight in Europe, markets closed lower as investors digested comments made by Fed chair Jerome Powell at his congressional testimony, where he warned interest rates are likely to be higher than central bank policymakers previously expected. Germany’s DAX fell 0.6%, the French CAC lost 0.46% and, in the UK, the FTSE100 closed 0.13% lower.Over in the US, local US investors also responded to Powell’s comments around rates needing to go higher for longer. The Dow Jones fell 1.72%, the S&P500 lost 1.53% and tech-heavy Nasdaq closed the day down 1.25%.Software giant Atlassian has announced it will lay-off 500 full-time staff in a cost-cutting measure, just 6-months after co-founder Scott Farquhar went on a hiring-spree. Meta, the parent company of Facebook and Instagram, also announced a fresh round of lay-offs to come yesterday in order to meet financial targets.What to watch today:Ahead of the local trading session the SPI futures are anticipating the ASX to open almost 1% lower on the back of the turbulent session on Wall St overnight.On the commodities front, oil is trading more than 3% lower at US$77.935/barrel, gold is down 1.54% at US$1818/ounce and iron ore is down almost 2% at US$126.50/tonne.Stocks going ex-dividend today include Costa Group (ASX:CGC), Woodside Energy Group (ASX:WDS), Brambles (ASX:BXB), Super Retail Group (ASX:SUL), and Blackmores (ASX:BKL). If you’ve been thinking about these stocks it might be worth considering buying in today as stocks going ex-dividend generally trade lower on the ex-dividend date.The Aussie dollar is buying US$0.66, 90.29 Japanese Yen, 56.19 British Pence and NZ$1.08.Trading Ideas:Bell Potter has downgraded its rating on Eagers Automotive (ASX:APE) from a Buy to a HOLD but has increased its price target to $15.25 from $15. The price target increase is driven by sales of Chinese electric vehicle company BYD being greater than anticipated, however the downgrade to a hold is based on uncertainty around what, if any, extra provisioning must be taken around Scott’s going into administration and a potential easing in demand due to higher interest rates.Trading Central has identified a bullish signal on Endeavour Group (ASX:EDV) following the formation of a pattern over a period of 15-days which is roughly the same amount of time the share price may rise from the close of $6.72 to the range of $7.25 to $7.40 according to standard principles of technical analysis.

In New York overnight, equities gained in the final hour of trading, as Treasury yields rose. US markets started the week on a positive note, ahead of a busy week of economic news. Important catalysts with week include congressional testimony on Tuesday and Wednesday from Federal Reserve Chair Jerome Powell, who will speak about how the central bank is thinking about inflation and rate hikes going forward. Also, the US awaits their February jobs report out this week as well. European markets were flat after modest early-session gains, with mining stocks down the most. China has announced a growth target of 5% this year. It’s viewed as a modest target, with Citi analysts announcing it is “disappointing to some investors” and falls short of their expectation. The 5% target is also below last year’s target of around 5.5%, when the country had its zero-covid policy. This saw the Aussie dollar drift lower. What to watch today: The SPI futures are suggesting the Australian market will drop 0.26% at the open this morning. The key economic announcement is watch out for today is the RBA’s interest rate decision, so this could see our dollar rise again, as its widely expected the RBA will deliver its 10th straight interest rate hike. The announcement will be at 2:30pm AEDT today, when the cash rate is expected to rise to 3.6%. In commodities, Oil is rallying, extending gains for the fifth session as a weaker US dollar boosted the appeal of greenback-priced commodities, and offsetting concerns about China’s demand and economic growth targets. So, keep watch of energy producers. Gold is lower ahead of the US Fed chief testimony, and iron ore is trading flat. Trading Ideas:Bell Potter maintain a HOLD rating on PWR Holdings (ASX:PWH), a leading provider of customised cooling solutions to the global motorsports and automotive industry. Bell Potter reviewed their forecasts after the release of the company’s H1 results last month, and have made some modest changes, including increasing FY24 and FY25 revenue forecasts and reducing NPAT forecasts. They have decreased their price target by 2% to $10.75 for the earnings changes, as well as market movements and time creep. Bell Potter have upgraded their recommendation on Arafura Rare Earths (ASX:ARU) from a Hold to a Speculative BUY. Their valuation remains unchanged at $0.72, which at ARU’s current share price of $0.55, implies 32% share price growth in a year. 

The ASX rose 0.4% in the final trading session of last week, buoyed by a rally for communications services and healthcare stocks, while the REIT sector was the only sector to close in the red on Friday. For the week though, the key index posted a 0.32% loss, its fourth straight weekly loss, as sharp losses for REIT and Financial stocks offset strong gains in the energy and materials sectors.The winning stocks from Friday’s session were led by Liontown Resources (ASX:LTR) jumping over 13% following a broker note out of Bell Potter, where analyst Stuart Howe believes the lithium miner’s shares could have much further to run. Ramelius Resources (ASX:RMS) also rose 5.6% on Friday and Netwealth Group (ASX:NWL) rallied 4.95% to end the week. On the losing end, Capricorn Metals (ASX:CMM) fell 4%, Silver Lake Resources (ASX:SLR) lost 3.74% and Centuria Capital Group (ASX:CNI) fell 3.7%.The most traded stocks by Bell Direct clients on Friday were Liontown Resources (ASX:LTR), Fortescue Metals Group (ASX:FMG) and Mineral Resources (ASX:MIN).Over in the US, stocks rallied on Friday following a retreat in the Treasury yields from recent highs, and comments from Atlanta’s Federal Reserve President backing a ‘slow and steady’ rate hike approach, boosted investor sentiment. The Dow Jones rose 1.17%, the S&P500 added 1.61% and the tech-heavy Nasdaq rose almost 2% on Friday. The yield on 10-year Treasury notes rose to 4.091% on Friday while the two-year US Treasury yield fell 0.4 basis points to 4.885%.Over in Europe, markets closed higher in the region following a positive global trend on Friday. Germany’s DAX rose 1.64%, the French CAC added 0.88%, and in the UK the FTSE100 rose just 0.04%.It’s a big week on the economic calendar this week as the RBA announces the latest rate hike decision for Australia on Tuesday, and later in the week we will gain an insight into how the US labour market is faring with nonfarm payrolls, unemployment and JOLTs jobs data all released in the US.What to watch today:Ahead of the local trading session here in Australia, the SPI futures are anticipating the ASX to open 0.87% higher to start the week on a positive note.Stocks going ex-dividend today include QBE Insurance (ASX:QBE), Nick Scali (ASX:NCK), Sims (ASX:SGM), REA Group (ASX:REA), Iluke Resources (ASX:ILU), Helloworld Travel (ASX:HLO), Bendigo and Adelaide Bank (ASX:BEN), Insurance Australia Group (ASX:IAG) and more. If you’ve been thinking about these stocks it might be worth considering buying in today as stocks trading ex-dividend generally trade lower on the ex-dividend date.Taking a look at commodities this morning, oil is trading almost 2% higher at US$79.68/barrel, gold is up 1.05% at US$1855.25/ounce and iron ore is flat at US$129/tonne.The Aussie Dollar is buying US$0.67, 91.75 Japanese Yen, 56.24 British Pence and NZ$1.09.Trading Ideas:Bell Potter has increased its price target on Capricorn Metals (ASX:CMM) to $4.67 from $4.35 and has increased its rating to buy from hold on the company on the grounds of buying in at the dip ahead of catalysts. Bell Potter sees recent share price depreciation provides an opportunity to buy into the stock as the company’s management team has an excellent track record of delivering to plan, the gold miner is a sector leader, AISC are among the lowest in the sector, and the company has consistently strong cash generation per ounce produced.Trading Central has identified a bullish signal on Champion Iron (ASX:CIA) following the formation of a pattern over a period of 274-days which is roughly the same amount of time the share price may rise from the close of $7.95 to the range of $11.20 to $12.00/share, according to standard principles of technical analysis.

The Aussie share market declined 0.71% (Mon-Thu), with energy and materials stocks the only two sectors to close in positive territory. This week, rising commodity prices were boosted by favourable manufacturing data in China, as the country's economy reopens post-pandemic.In this week's wrap, Grady covers:(1:29) The sectors thriving in tough market conditions(3:14) What to expect from the RBA next week(4:35) The best performing stocks in the ASX200(5:33) The most traded stocks & ETFs by Bell Direct clients(6:20) Four economic news items to watch out for

Equities closed higher in New York, as traders ignored concerns over higher interest rates. The Dow gained more than 400 points or 1.25%, boosted by Salesforce shares rallying 11%, on a strong quarter and forward guidance. The S&P500 trading 0.5% higher, while the Nasdaq was down earlier in the session, however also closed up 0.5%. Rates moved higher, with the 10-year note yield trading above 4% and the 2-year note yield reaching levels not seen in over a decade. European markets closed in the green, recovering from earlier losses, after the eurozone inflation data came in above expectations. Headline inflation fell to 8.5% in February, from 8.6% the previous month. What to watch today:The SPI futures are this morning suggesting that Australian market will open 0.31% higher. We may see miners Rio Tinto (ASX:RIO) and BHP Group (ASX:BHP) end the week on a positive note, after their shares on the NYSE pushed higher in late trade overnight. Yesterday, ASX-listed BHP saw its biggest one-day gain in almost 4-months, amid evidence of China’s reopening economy. In commodities, Oil prices have jumped, as the market weighs hopes for a rebound in Chinese demand, against concerns about further policy tightening from the Fed. So, keep your eye on energy producers today such as Woodside Energy (ASX:WDS) and Beach Energy (ASX:BPT). Gold has remained steady for three days, amid the prospect of further monetary tightening. Iron ore is strong, currently trading 1.6% higher with investors optimistic about higher Chinese demand after since the country’s reopening. Stocks that are set to go ex-dividend today are Ampol (ASX:ALD), Nine Entertainment (ASX:NEC) and Treasury Wine Estates (ASX:TWE). Remember, this may see share prices fall, as investors take their profits. Trading Ideas:Bell Potter maintain a Buy rating on Mincor resources (ASX:MCR), although the company’s H1 2023 results were below Bell’s forecasts. They have reduced their price target by 9% to $1.70, and at MCR’s current share price of $1.27, this implies 34% share price growth in a year. Trading Central have identified a bearish signal in Macquarie Group (ASX:MQG), indicating that the stock price may fall from the close of $184.86 to the range of $174 to $176 over 30 days, according to the standard principles of technical analysis. 

Rising bond yields fuelled the sell-off on Wall Street overnight with the benchmark 10-year yield topping 4% for the first time since November, while the 1-year Treasury yield climbed above 5%. Investors also reassessed the outlook for tightening monetary policy and economic growth as key data has been released around the world showing inflation continues to remain stubbornly high in Europe and other key regions. The Dow Jones closed up 0.02%, while the S&P500 fell 0.47% and the Nasdaq fell 0.66%. Salesforce shares soared 13% on Wednesday after the cloud software company posted better-than-expected fourth quarter and full year results including Q4 revenue up 14% to US$8.38bn, while full year revenue rose 22%. The company’s strong results were attributed to cost cutting measures including laying off staff during the quarter as it pushes to become more profitable.Over in Europe economic data continues to weigh on investor sentiment in the region with local markets there closing mostly lower on Wednesday following the release of a flash estimate into Germany’s harmonised inflation rate showing an increase from 9.2% to 9.3% in February. This comes ahead of Eurozone inflation due out on Tuesday. Germany’s DAX fell 0.39%, the French CAC lost almost half a percent, and in the UK the FTSE100 rose almost half a perfect on Wednesday.Global markets may face some relief today though buoyed by China releasing its official purchasing managers’ index data for February overnight showing a rise to 52.6 points in February, the highest since April 2012, in a sign the world’s second largest economy is beginning to ramp up manufacturing and overall operations following the removal of its harsh COVID restrictions.What to watch today:In commodities, oil is trading 0.66% higher at US$77.55/barrel, gold is up 0.56% at US$1837/ounce and iron ore is flat at US$126/tonne.The Aussie dollar is buying US$0.68, 92.01 Japanese Yen, 56.07 British Pence and NZ$1.08.The local market slipped into the red yesterday after Australian GDP data for Q4 was released, showing the economy grew 0.5% over the quarter, which is a slower pace than was expected. This is the fifth straight quarter of growth in the economy but the softest pace in the period amid intense cost-of-living pressures and rising interest rates.Ahead of the local trading session here in Australia, the SPI futures are anticipating the ASX to open flat on the second last trading session of the week.Stocks trading ex-dividend today include Baby Bunting (ASX:BUB), Woolworths (ASX:WOW), Propel Funeral Partners (ASX:PFP), Coles Group (ASX:COL), Pro Medicus (ASX:PME), Medibank Private (ASX:MPL), Pilbara Minerals (ASX:PLS) and Jumbo Interactive (ASX:JIN). If you’ve been thinking about these stocks it might be worth considering buying in today as stocks trading ex-dividend generally trade lower on the ex-dividend date.Trading Ideas:Trading Central has identified a bullish signal on Deep Yellow (ASX:DYL) following the formation of a pattern over a period of 22-days which is roughly the same amount of time the share price may rise from the close of $0.68 to the range of $0.90 to $0.96 according to standard principles of technical analysis.Bell Potter has downgraded its price target on Bubs Australia (ASX:BUB) to 29cps but maintains a hold rating on this company following the release of the infant formula company’s first half results that focused on costs eating into margins. For the half, Bub’s reported revenue down 6%, an underlying EBITDA loss of $22m, elevated inventory position of $8.4m and expect higher operating cost assumptions between FY23-25.

Wall Street had a choppy final session for the month of February before closing lower on Tuesday as investors digested a slew of economic data and corporate earnings results. Chicago’s PMI fell to 43.6 points for February from 44.3 points in January in another sign the US Fed’s aggressive rate hike stance is having impact across the country. The Dow Jones ended Tuesday’s session down 0.71%, the S&P500 lost 0.1% and the Nasdaq fell 0.3%. The yield on the 10-year US Treasury note ticked higher to 3.94% on Tuesday, its highest level since November. Target shares are up over 1.7% on Tuesday after the retail giant released fourth-quarter earnings results that exceeded expectations, while Zoom video Communications is also up over 1.2% after posting a top and bottom line beat for the fourth quarter.In Europe overnight, hotter-than-expected inflation data out of Spain and France for February caused a sell-off in the region as the data is the latest sign that inflationary pressures are still running high, adding to concerns that the European Central Bank must continue raising rates to get inflation under control. The STOXX600 fell 0.2%, Germany’s DAX fell 0.11%, the French CAC fell 0.38% and, in the UK, the FTSE100 fell 0.74%.What to watch today:Ahead of the local trading session here in Australia the SPI futures are anticipating the local market to open 0.26% lower.In commodities, oil is heading for its fourth straight monthly decline amid stockpiles of the commodity in the US and slower-than-expected demand increase from China post the country reopening. Today, oil is up 1.4% at US$76.76/barrel, gold is up 0.52% at US$1826/ounce and iron ore is down 2.70% at US$126/tonne.The highly anticipated Australian GDP growth rate for Q4 is released today which will give an insight into how well the RBA’s attempts have been so far at cooling the stubbornly high inflation down under. The consensus expectation is for a rise of 0.8% following a 0.6% increase in Q3.The Aussie dollar is buying US$0.67, 91.68 Japanese Yen, 56.22 British Pence, and NZ$1.09.Stocks trading ex-dividend today include Humm Group (ASX:HUM), AMP (ASX:AMP), The Lottery Corporation (ASX:TLC) and Telstra Group (ASX:TLS). If you’ve been thinking about these stocks it might be worth buying in today as stocks trading ex-dividend generally trade lower on the ex-dividend date.Trading Ideas:Trading Central has identified a bullish signal on Resolute Mining (ASX:RSG) following the formation of a pattern over a period of 18-days which is roughly the same amount of time the share price may rise from the close of $0.24 to the range of $0.31 to $0.33 according to standard principles of technical analysis.Trading Central has identified a bearish signal on Westpac Banking Group (ASX:WBC) following the formation of a pattern over a period of 99-days which is roughly the same amount of time the share price may fall from the close of $22.53 to the range of $20.50 to $20.90 according to standard principles of technical analysis.

US equities closed in the green overnight, trying to recover some ground after the Wall Street had its worst week of the year. The Dow gained 0.2%, the S&P500 up 0.3% and the Nasdaq rose 0.6%. These moves came as Treasury yields eased, following a jump on Friday. We’re seeing a renewed focus on inflation and again seeing rates driving equities. Investors are also looking ahead to another week in retail earnings. European equities were also higher, with all major benchmarks in positive territory. And the European Central Bank has stated that it’ll be hiking rates by another 50 basis points in March, so investors are preparing for that announcement this month. What to watch today:The Australian market is looking to start the day higher. The SPI futures are suggesting a rise of 0.47% at the open. Reporting season is wrapping up today with the final list of companies set to release their earnings reports today. Some of these companies include DGL Group (ASX:DGL), Mach7 Technologies (ASX:M7T) and Tyro Payments (ASX:TYR). So, with one day to go, this reporting season we’ve seen 268 companies report their earnings. 80 of these beat expectations, 107 were in line with expectations, and 81 companies missed expectations. It’s also been a busy month for brokers – we saw a total of 50 rating upgrades and 38 rating downgrades. Keep watch of the stock going ex-dividend today, as this often sees their share prices fall as investors take their profits. These include Amcor (ASX:AMC), Accent Group (ASX:AX1), Bega Cheese (ASX:BGA), Domino’s Pizza (ASX:DMP), Evolution Mining (ASX:EVN), Origin Energy (ASX:ORG) and Worley (ASX:WOR). In commodities, oil is down, as lingering concerns about a recession-driven demand downturn offset prospects of tighter global supplies. Gold is higher, however still hovering at its weakest level in two months, and iron ore has dropped more than 1.5%, so watch iron ore stocks today. Trading Ideas: Bell Potter have a Hold rating on Appen (ASX:APX) and have lowered their price target from $3 to $2.25. The company’s 2022 revenue fell 3% to US$388.5 million, which was slightly below Bell Potter’s forecast of US$393.8 million. Underlying EBITDA fell 39%, but was in line with Bell’s forecast. Bell Potter also maintains their Buy rating on Accent Group (ASX:AX1), after the company beat expectations for H1 and H2 trading has commenced on strong note. AX1 reported EBIT of $81 million, NPAT of $50.7 million and dividends per share of 12cps. 

The local market ended Friday’s session 0.3% higher as a surge in tech stocks led the markets higher, while every sector aside from materials stocks also finished the day in the green.The winning stocks from Friday’s session were led by Bega Cheese (ASX:BGA) adding over 7.5% on the back of the company’s first half results being released, while Brambles (ASX:BXB) and Block Inc (ASX:SQ2) each also added over 7.4 and 5.8% respectively. On the losing end, Regis Resources (ASX:RRL) fell almost 5% after releasing first half results and providing a mineral resource update on its Tropicana project.The most traded stocks by Bell Direct clients on Friday were AGL Energy (ASX:AGL), Pilbara Minerals (ASX:PLS) and Core Lithium (ASX:CXO).For the week, the key index posted a 0.54% loss despite the Utilities sector gaining over 6% buoyed by Origin Energy jumped over 15% on the back of receiving a revised takeover offer for $8.90/share.Over in the US, Wall St closed lower on Friday as, yet another inflation-related report came in stronger than expected. Personal Consumption Expenditure price index, the Fed’s preferred measure of inflation in the US, jumped to 4.7% in January which well exceeded expectations of a rise to 4.3%. The Dow Jones fell 1%, the S&P500 also lost 1% and the tech-heavy Nasdaq slid 1.7%, to wrap up Wall St’s worst week in 2023.Over in Europe on Friday, markets also closed lower in the region as investors assessed the latest corporate earnings results in addition to economic data out of the US. Germany’s DAX fell 1.72%, the French CAC lost 1.78% and in the UK the FTSE 100 fell 0.37%.What to watch today:This week Q4 GDP growth rate in Australia out on Wednesday with consensus expecting a growth rate of 0.9%, up from 0.6% growth in Q3. If the figure comes in at 0.9% it will make it the fifth straight quarter of growth in the economy, and a higher rise than Q3 which may cause a market sell-off on Wednesday.Preliminary Australian retail sales data for January is released in just over an hour with consensus expecting a rise of 1.2%, following a 3.9% decline in December.Over in the US, several Federal Reserve officials will speak this week, giving clues into the size of the next interest rate hike so investors locally and globally will be keeping an eye out for these speeches, and we may see markets move accordingly post these speeches.On the commodities front, oil is trading 1.23% higher at US$76.23/barrel, gold is down 0.64% at US$1810.90/ounce and iron ore is trading 1.13% lower at US$131.50/tonne.The Aussie dollar is buying US$0.67, 91.81 Japanese yen, 56.04 British pence and NZ$1.09.Ahead of the local trading session the SPI futures are anticipating the ASX to open sharply lower amid the global sell-off that ended the last trading week on a sour note.Trading Ideas:Trading Central has identified a bullish signal on Lake Resources (ASX:LKE) following the formation of a pattern over a period of 19-days which is roughly the same amount of time the share price may rise from the close of $0.61 to the range of $0.87 to $0.93 according to standard principles of technical analysis.Trading Central has identified a bearish signal on Sandfire Resources (ASX:SFR) following the formation of a pattern over a period of 73-days which is roughly the same amount of time the share price may fall from the close of $6.22 to the range of $4.00 to $4.40 according to standard principles of technical analysis.

The Aussie share market declined 0.84% (Mon-Thu), as investors reacted to the latest company earnings announcements. This reporting season so far, we've seen 192 companies report, 62 beat expectations, 71 came in-line with expectations, while 59 companies fell short of expectations.  In this week's wrap, Grady covers:(0:50) Why your weekly food shop has increased in price(2:03) The shift from coal to green operations by the big miners (3:44) Qantas' turns a profit, but raises CAPEX(4:32) The best performing stocks in the ASX200(5:59) The most traded stocks & ETFs by Bell Direct clients(6:30) One economic news item to watch out for

Overnight in the US, equities advanced higher in a late-day rally, with all three major benchmarks in positive territory. European stocks also moved higher in response to the Federal Reserve’s meeting minutes, which showed that they’re still committed to fighting inflation with interest rate hikes. Equities were in the green, with the STOXX 600, Germany’s DAX and France’s CAC all closing in the green, while the FTSE 100 ended the session lower. What to watch today:The Australian market is set to open slightly higher this morning, with the SPI futures suggesting a rise of 0.06%. In commodities: Oil prices are rallying, currently trading around US$75.56 per barrel, ending two days of losses, amid lingering concerns about tight global supplies. Russia has announced its plans to cut oil exports from its western ports by up to 25% in March, exceeding its announced output curbs of 500,00 barrels per day. The market is also expecting China’s oil imports to hit a record high this year, amid rising demand for transportation fuel and as new refineries come online. US natural gas is trading 8% higher, however remained not far from a 29-month low, as the market monitors demand and weather forecasts, with recent projections pointing to cold-than-expected temperatures. Iron ore is trading at its strongest level in 8-months, with signs of stronger demand for Chinese construction, grouped with supply concerns. Gold has held its recent decline, at its lowest in 8-weeks, after the Fed’s meeting minutes shoed that policymakers will continue interest rate hikes. Companies reporting today include Allkem (ASX:AKE), Aristocrat Leisure (ASX:ALL), BWX (ASX:BWX), Brambles (ASX:BXB), Harvey Norman Holdings (ASX:HVN), Link Administration Holdings (ASX:LNK)and Mineral Resources (ASX:MIN). Trading Ideas:Bell Potter maintain a BUY rating on Eagers Automotive (ASX:APE) after the company reported its earnings. 2022 revenue fell, but was in line with Bell Potter’s expectations. Underlying operating profit before tax grew 1% to $405.2 million and was 3% above Bell’s forecast of $392.4 million. The company provided strong revenue guidance and forecasts were upgraded. Bell Potter’s price target dropped to $15 from $15.50, and at APE’s current share price of $13, this implies 15.4% share price growth in a year. Trading Central has identified a bearish signal in Rio Tinto (ASX:RIO) indicating that the stock price may close from the close of $123.40 to the range of $114.50 to $116.25 over 62 days, according to the standard principles of technical analysis. 

Wall St closed mixed on Wednesday following the release of the Federal Reserve’s latest meeting minutes from earlier this month. The minutes outlined most Federal Reserve policymakers were in favour of slowing the pace of rate hikes in a bid to assess the economy’s progress, however policymakers also agreed unanimously that ongoing increases in the nation’s cash rate would be appropriate. This caused a mixed reaction across Wall St, and enhances fears of a global recession as the cost of living continues to rise.The Dow Jones ended the midweek session down 0.26% and the S&P500 lost 0.16%, but the Nasdaq rose 0.13%.Earlier on Wednesday, European stocks closed lower again on Thursday as investors awaited the release of the US Fed’s meeting minutes to gauge insight into whether the Fed will remain hawkish on its stance to tackle inflation. Investors in the region also sold out of markets across Europe also on the back of downbeat earnings reports including British bank Lloyds reporting flat profit growth on the prior year. The STOXX600 fell 0.3%, Germany’s DAX closed flat, the French CAC fell 0.13% and, in the UK, the FTSE100 shed 0.59%.Taking a look at commodities, iron ore is again the only key commodity trading higher this morning, up 2.31% at US$133/tonne, while oil is down 3.4% at US$73.76/barrel and gold is down almost half a percent at US$1825/ounce.What to watch today:Ahead of the local trading session, the SPI futures are anticipating the ASX to open 0.3% lower, extending on yesterday’s losses and on the back of the continued global sell-off overnight.Australian wages and construction data out yesterday add further support for the RBA to continue its steady rate hike path as opposed to considering any 50-bps hikes in future. Wages growth in Q4 showed growth of just 0.8% for the quarter, which was lower than expectations of 1%, while construction work done in the fourth quarter fell by 0.4% which was well below consensus expectations of a 1.5% increase.Stocks trading ex-dividend today include Codan (ASX:CDA), Whitehaven Coal (ASX:WHC), IRESS (ASX:IRE) and JB Hi-Fi Group (ASX:JBH). If you’ve been thinking about these stocks, it might be worth considering buying in today as stocks trading ex-dividend generally trade lower on the ex-dividend date.Trading Ideas: Bell Potter has downgraded its price target on Clean Seas Seafood (ASX:CSS) from $0.85 to $0.75 cents per share, but maintain a speculative buy rating on the company following the release of the company’s first half results which were weaker than expected including revenue down 22% YoY and higher feed costs, up 20% YoY. Production costs are also likely to run above previous targets for the near term however for the most part are mitigated by higher average selling prices.Trading Central has identified a bullish signal on Xtek (ASX:XTE) following the formation of a pattern over a period of 21-days which is roughly the same amount of time the share price may rise from 73 cents to the range of 83 cents to 85 cents according to standard principles of technical analysis.

Wall Street retreated in the first trading session of the week in the US as rising interest rates continue pressuring investor sentiment, in addition to investors reacting to the latest batch of retail earnings raising concerns over how the consumer is faring the rising interest rate environment. The Dow Jones ended Tuesday’s session down 2.06%, the S&P500 lost 2% and the tech-heavy Nasdaq closed the day down 2.5%. The benchmark 10-year Treasury yield climbed to 3.9%, while the 2-year rate advanced to 4.7%, building on from last week’s gains as investors grappled with hotter-than-expected inflation data. Leading domestic homewares retail chain Home Depot fell 5.4% to a three-month low on Tuesday after warning of weakening demand and issuing a soft profit forecast for 2023, while Walmart, the world’s largest retailer, fell 0.2% after it forecast full-year earnings below analysts’ expectations and issued a warning of hotter-than-expected food prices squeezing profit margins.In Europe, markets closed lower as investors weighed corporate earnings results against the potential for the US Fed to remain hawkish which enhances the fear of a recession in the coming months. Germany’s DAX fell 0.52%, the French CAC lost 0.37% and, in the UK, the FTSE100 shed 0.46% despite the UK government posting a surprise budget surplus for January. Credit Suisse shares fell on Tuesday following reports that remarks made by the company’s Chairman, Axel Lehmann regarding outflows from the lender, are being reviewed by the Swiss financial regulator on the grounds of potentially being misleading.What to watch today:In commodities, it’s a red run across the commodities board this morning with oil down 1.16% at US$76.28/barrel, gold is down 0.28% at US$1836/ounce, but iron ore is up 1.96% to US$130/tonne.Ahead of the local trading session here in Australia, the SPI futures are anticipating the ASX to open 0.62% lower on the global sell-off overnight.Stocks going ex-dividend today include Netwealth Group (ASX:NWL), AGL Energy (ASX:AGL) and Commonwealth Bank (ASX:CBA). If you’ve been thinking about these stocks it might be worth considering buying in today as stocks going ex-dividend generally trade lower on the ex-dividend date.The Aussie dollar is buying US$0.69, 92.51 Japanese Yen, 57.30 British Pence and NZ$1.10.Trading Ideas:Bell Potter has increased its rating on Costa Group (ASX:CGC) from a Hold to a BUY and maintains a $3/share price target on the company following the release of full year earnings for CY22, where the company outlined non-recurring quality issues in on-year in citrus should support material recovery in CY23 earnings and the company will benefit from a 19% uplift in productive hectares in the international division.Trading Central has identified a bullish signal on AMA Group (ASX:AMA) following the formation of a pattern over a period of 114-days which is roughly the same amount of time the share price may rise from the close of $0.24 to the range of $0.33-$0.35 according to standard principles of technical analysis.

Please note: US markets were closed overnight. The major US benchmarks closed mixed to end last week, with energy stocks down the most, while yields on the 10-year and 2-year Treasury bonds also weighed on equities. European equities were higher however, boosted by gains in mining stocks. Coming up this week – the thinking behind monetary decisions at the Fed will be under the spotlight on Wednesday as the US central bank releases the minutes of its latest meeting, while Friday’s release of US Personal Income and PCE, the Federal Reserve’s preferred inflation measure will be closely watched for signs of whether inflationary pressures will re-accelerate or become less intense. Also, US earnings season is also full swing a few big names announcing Q4 results during this week. What to watch today:Our local market is poised to open lower this morning, with the SPI futures suggesting a 0.38% drop. It’s another busy day in reporting season – these reports are causing a lot of movement in markets this month. So today we’ll be watching out for AMA Group, BHP, Coles, G8 Education, Tabcorp and Viva Energy. BHP Group (ASX:BHP) earnings will be one of the most watched today. Goldman Sachs are expecting underlying EBTDA US$13.7b, NPAT of US$6.9b, and an 88 US cents per share interim dividend, compared to the consensus estimate of 98 US cps. In commodities, the oil price is higher, rebounding from an almost two-week low of around US$75 touched last week, as investors weighed optimism about a recovery in Chinese demand against rising US supplies and persistent worries about a global economic slowdown. Gold has steadied after hovering near its weakest levels in seven weeks after hawkish comments from the Fed and strong eco data weighed down on gold, while iron ore has extended its rebound, so keep your eye on iron ore miners this week, such as Champion Iron (ASX:CIA), Fortescue Metals (ASX:FMG), and Rio Tinto (ASX:RIO). Trading Ideas:Following the H1 results for The a2 Milk Company (ASX:A2M) announced yesterday, Bell Potter have reiterated their Buy rating, after A2M reported underlying NPAT ahead of Bell Potter’s expectations. There price target has been increased from $6.80 to $7.65, which at its current share price of $6.49, implies 18% share price growth in a year. Trading Central have identified a bearish signal in Metals X (ASX:MLX) indicating that the stock price may fall from the close of $0.33 to the range of $0.23 to $0.25 over 34 days.

The local market closed almost 1% lower on Friday as a sell-off in technology stocks weighed on the key index, with investors fleeing growth stocks in fear of further rate hikes out of the RBA and Federal Reserve.Baby Bunting (ASX:BBN) fell over 6% on Friday after reporting a 66.5% drop in net profit for the first half, while QBE (ASX:QBE) insurance rallied over 7% on strong first half results including NPAT up 3%.The winning stocks from Friday’s session were led by QBE (ASX:QBE) Insurance adding over 7%, while A2 Milk Company (ASX:A2M) rose 6.3%, and Corporate Travel Management (ASX:CTD) rallied 4.5%. And on the losing end Block Inc (ASX:SQ2) fell 7.76%, while New Hope Corporation (ASX:NHC) dropped 5.8%, and Centuria Industrial REIT (ASX:CIP) fell 5.76%.The most traded stocks by Bell Direct clients on Friday were led by the Commonwealth Bank of Australia (ASX:CBA), Magellan Financial Group (ASX:MFG) and Woodside Energy (ASX:WDS).Wall Street closed mixed on Friday as investor fears of further rate hikes to come from the Fed intensified last week on the back of a few economic reports coming in stronger than expected.Yields on the 10-year and 2-year U.S. Treasury bonds hit levels not seen since November which weighed on markets during the last trading session or the week.The Dow Jones rose 0.39%, while the S&P500 fell 0.28% and the Nasdaq closed the day down 0.58%. The Dow Jones notched out a third straight week of losses, and the S&P500 fell for a second week but the Nasdaq rose 0.59% for the week.Over in Europe, markets closed lower on Friday following a week of economic data released that weighed on investor sentiment. The STOXX600 fell 0.2%, Germany’s DAX lost 0.33%, the French CAC shed 0.25% and, in the UK, the FTSE100 fell 0.1%.What to watch today:Taking a look at commodities, it’s a red start to the week with oil down 2.74% at US$76.34/barrel, coal is down 2.68% at US$214/tonne, gold is up slightly at US$1842.39/ounce and iron ore is up 0.4% at US$127.50/tonne.Ahead of the local trading session here in Australia the SPI futures are anticipating the ASX to open flat on the back of the mixed session on Wall St on Friday.Stocks going ex-dividend today include Zimplat Holdings (ASX:ZIM), Ansell (ASX:ANN), Vicinity Centres (ASX:VCX) and Wesfarmers (ASX:WES). If you have been thinking about these stocks it might be worth considering buying in today as stocks going ex-dividend generally trade lower on the ex-dividend date.The Aussie dollar is buying 69 Us cents, 92.15 Japanese Yen, 57.30 British Pence and 1 New Zealand dollar and 10 cents.Trading Ideas:Bell Potter has increased its price target on OreCorp (ASX:ORR) to 93 cents, from 84 cents, and maintains a speculative buy rating on the company following a number of catalysts coming through including de-risking and the achievement of key milestones at its Nyanzaga Gold Project in Tanzania. The NGP has emerged as an attractive, significant scale, new gold project with strong financial performance metrics in a region that is experiencing a resurgence in investment by the world’s largest mining companies.Trading Central has identified a bullish signal on Rumble Resources (ASX:RTR) following the formation of a pattern over a period of 24-days which is roughly the same amount of time the share price may rise from the close of 23 cents to the range of 28 cents to 30 cents according to standard principles of technical analysis.

The Aussie share market fell 0.31% (Mon-Thu), weighed down by US CPI data and investor reactions to reporting season results. An increase to the unemployment rate was also announced this week, strengthening investor appetite for growth stocks.In this week's wrap, Grady covers:(0:29) What the big banks focused on this reporting season(2:25) Wesfarmers & Whitehaven Coal's corporate earnings(4:26) The best performing stocks in the ASX200(5:25) The most traded stocks & ETFs by Bell Direct clients(5:55) Two economic news items to watch out for

Wall Street slipped on Thursday to close lower as another piece of economic data was released coming in stronger than expected. For the month of January, US PPI or producer price index rose 0.7% MoM which is the highest growth in 7-monthsand much higher than market forecasts of 0.4%. Goods prices jumped 1.2%, the largest increase since June 2022. The data is another sign this week that the Fed’s aggressive rate hike stance has had little effect in slowing economic growth over recent months. US retail sales also rebounded sharply in January with the largest jump in almost 2 years, climbing 3% for the month which easily topped analysts’ expectations and add further support for the fed to keep raising interest rates to cool inflation in the US. The Dow Jones fell 1.26%, the S&P500 lost 1.38% and the tech-heavy Nasdaq dropped 1.78% on Thursday.Over in Europe markets closed slightly higher after a choppy session on Thursday as investors digest a slew of economic data released this week giving mixed signals about the Fed’s rate hike pathway moving forward. The STOXX600 rose 0.2%, the French CAC touched an all-time high during the session before retreating to close 0.89% higher, Germany’s DAX added 0.18% and, in the UK, the FTSE100 also rose 0.18%.What to watch today:In commodities oil is trading 0.19% lower at US$78.44/barrel, gold is up 0.29% at US$1841.43/ounce and iron ore is up 1.61% at US$126.50/tonne.The Aussie dollar is buying US$0.69, 92.22 Japanese Yen, 57.10 British pence and NZ$1.10.Ahead of the local trading session the SPI futures are anticipating the local market to open 0.25% lower.Stocks going ex-dividend today include Lendlease Group (ASX:LLC) and Macquarie Group (ASX:MQG). If you have been thinking about these stocks it might be worth considering buying in today as stocks going ex-dividend generally trade lower on the ex-dividend date.Trading Ideas:Trading Central has identified a bullish signal on Qantas (ASX:QAN) following the formation of a pattern over a period of 32-days which is roughly the same amount of time the share price may rise from the close of $6.57 to the range of $7.25 to $7.45 according to standard principles of technical analysis.Trading Central has identified a bearish signal on NRW Holdings (ASX:NWH) following the formation of a pattern over a period of 68-days which is roughly the same amount of time the share price may fall from the close of $2.80 to the range of $2.41 to $2.49 according to standard principles of technical analysis.

US equities advanced overnight as investors consider the strong retail sales data along with the latest US inflation data, and what this means for the Fed’s interest rate hiking campaign. In the prior session US inflation came in slightly above expectations, with headline year-on-year CPI dropping to 6.4% in January. The data drove yields higher across the curve, with the 20-year yield jumping 10 basis points on the day and 38 basis points in the past month. Moves were more muted further out on the curve, with the 10-year yield rising 4 and 24 basis points respectively, yesterday and in the past month. Equities had a positive run overnight however; the Dow gained 0.1%, the S&P500 gained 0.28% and the Nasdaq gained 0.9%. Stocks also moved higher in Europe. The STOXX 600 blue-chip index reversed the morning losses, closing half a percent higher, with most sectors in the green. Construction stocks led gains, while European banking stocks declined. And the UK’s FTSE 100 hit another record high, reaching 8,000 points for the first time. So while economic forecasts for the UK haven’t been too positive, many of the FTSE 100 firms derive their revenue from overseas. The index has seen investors attracted to financials, energy and commodities firms, as well as dividend-paying defensive stocks. What to watch today: The SPI futures are suggesting the Aussie market will open 0.49% higher this morning. In commodities, Oil prices are trading in the red at around US$78 per barrel, extending losses for a second session amid lingering concerns about weak demand. The latest report from the Energy Information Administration showed that US crude inventories jumped by 16.283 million barrels to 842.973 million last week, which was the highest level since early October. And oil prices have already been under pressure after the US government announced plans to release 26 million barrels of oil from strategic reserves. So keep watch of energy stocks such as Santos (ASX:STO) and Beach Energy (ASX:BPT). Meanwhile gold has falled to a one-month low after the US dollar strengthened. So watch gold miners such as Regis Resources (ASX:RRL) and Evolution Mining (ASX:EVN). And iron ore has jumped 1.2% higher to US$124.50 per tonne, while seaborne iron ore is just 0.1% higher. As for reports to watch out for today, NAB is set to release a Q1 update, plus a long list of companies are set to release their half year results. Some of the names reporting today include AMP, Evolution Mining, Telstra, Goodman Group, Magellan Financial, Newcrest Mining, South32 and Whitehaven Coal just to name a few. And in economic data, at 11:30am today January’s unemployment rate will be announced, expected to remain unchanged at 3.5%. The Aussie dollar is buying US$0.69, 57 British Pence, and NZ$1.10. Trading Ideas:Bell Potter maintain a BUY rating on DroneShield (ASX:DRO) and have lowered their price target to $0.40. At DRO’s current share price of $0.31, this implies 29% share price growth in a year. Trading Central have identified a bearish signal in Bendigo and Adelaide Bank (ASX:BEN) indicating that the stock price may fall from the close of $9.61 to the range of $9.02 to $9.12 over 30 days according to the standard principles of technical analysis. 

The ASX fell 1.06% today following the release of stronger-than-expected CPI data out in the US overnight which sent shockwaves through investor confidence, renewing fears of the Fed continuing its aggressive rate hike stance. Investors sold out of financial stocks today amid fears of increasing doubtful debts on bank balance sheets resulting from further rate hikes anticipated. Reporting season also continued today with a number of big names releasing results.The Commonwealth Bank of Australia (ASX:CBA) reported first half results today that included 10% growth in NPAT, an interim dividend of $2.10/share, Net Interest Margin up 18-basis points to 2.10% and operating performance up 18%. Investors sharply sold out of CBA shares today though after the bank increased its loan impairment expense by 77.1% which management blamed on current macro conditions including rising interest rates and prolonged inflationary pressures.Australian conglomerate Wesfarmers (ASX:WES) also released first half results today including revenue jumping 27% on the PCP to $22.558bn, 114% increase in Kmart EBIT, overall NPAT up 14% to $1.4bn, and the company declared an 88 cents per share dividend. Wesfarmers’ Chemicals, Energy and Fertilisers revenue jumped 30.2% to $1.4bn, but the company’s Catch business softened to report a $108m loss. Overall, investors were impressed with the results, sending the Wesfarmers share price up 1.8% today.The winning stocks from today’s session were led by Star Entertainment Group (ASX:SGR) rallying 14.40%, while G.U.D Holdings (ASX:GUD) added 8.10% and Cochlear (ASX:COH) rose 7.75% on the back of first half results. And on the losing end Brainchip Holdings (ASX:BRN) fell 13.56%, Corporate Travel Management (ASX:CTD) lost 8.7% and Treasury Wine Estates (ASX:TWE) dropped 6.91%.The most traded stocks by Bell Direct clients today were Commonwealth Bank of Australia (ASX:CBA), Beach Energy (ASX:BPT) and Melbana Energy (ASX:MAY).On the commodities front today, the price of oil took a dive today to just below US$79/barrel after an industry report showed US crude inventories rose by 10.5m barrels last week, well above the expected 321,000 barrel rise. Gold is trading down 0.43% at US$1846/ounce and iron ore is up 1.22% at US$124.50/tonne.The Aussie dollar is buying US$0.69, 92.23 Japanese Yen, 57.34 British Pence, and NZ$1.10.

US equities were sold-off in the hour of trade following the release of the highly anticipated January CPI report which showed inflation in the US remains stubbornly hot. For January, US inflation came in at a rise of 0.5% which translated to an annual gain of 6.4%, which was above economists’ expectations of a decline in CPI to 6.2% YoY. The way inflation has remained stubbornly high is further support for the Fed to continue raising interest rates for a little while to come in order to cool inflation to the target range of around 2%. Stocks recovered in afternoon trade though to close mixed with the Dow Jones ending the day down 0.46%, while the S&P500 fell just 0.03% and the Nasdaq closed up 0.57%. The winning stocks in the US today were Boeing adding 1.25%, Nike rallying 0.83% and Chevron climbing 0.77%. Coca-Cola and Home Depot each fell 1.6% on Tuesday.Over in Europe on Tuesday markets closed mostly higher but pared back early gains as investors digested the mixed US inflation data for January that may prompt the Fed to announce further rate hikes. The Stoxx 600 closed 0.1% higher, Germany’s DAX fell 0.11%, the French CAC rose 0.07% and, in the UK, the FTSE100 rose 0.08%.What to watch today:On the commodities front, oil is trading 1.4% lower at US$79/barrel, gold is down 0.28% at US$1848/ounce and iron ore is down 2.38% at US$123/tonne.Ahead of the local trading session, the SPI futures are anticipating the ASX to open 0.01% higher following the recovery on Wall St in afternoon trade.Reporting season continues today with some big names releasing results today including Commonwealth Bank (ASX:CBA), Wesfarmers (ASX:WES) and Fortescue Metals Group (ASX:FMG).The Aussie dollar is buying US$0.70 US cents, 92.84 Japanese Yen, 57.45 British Pence and NZ$1.10.Trading Ideas:Trading Central has identified a bullish signal on Camplify (ASX:CHL) following the formation of a pattern over a period of 11-days which is roughly the same amount of time the share price may rise from the close of $2.05 to the range of $2.47 to $2.57 according to standard principles of technical analysis.Trading Central has identified a bearish signal on Hansen Technologies (ASX:HSN) following the formation of a pattern over a period of 61-days which is roughly the same amount of time the share price may fall from the close of $4.82 to the range of $4.24 to $4.34 according to standard principles of technical analysis.

The local market recovered from Monday’s sell-off on Tuesday to close the session 0.18% higher as investor optimism was boosted by Aussie business confidence jumping for January after dropping at the tail end of 2022. Investors piled into tech stocks today with the sector rising 1.3% at the closing bell as investor appetite for growth stocks increases with every ease in rate hike announcements.Economic data out today showed Aussie business mood has bounced back rising 6 points in January led by a sharp rise in mining and wholesale sectors. Consumer confidence on the other hand fell 6.9% to 78.5 in February, the weakest level in 3-months as the cost-of-living pressures and interest rate hikes in Australia continue weighing heavily on Aussies.Reporting season continued to make waves today with investors again very responsive to the provision of first half results.James Hardie Industries (ASX:JHX) shares came under pressure today after the global building materials company and fibre cement product manufacturer released Q3 results that disappointed investors, driven by a downturn in the US and Australian housing markets. For the quarter, James Hardie reported global net sales declined 4% to US$860.8m, adjusted net income declined 16% to US$129.2m and the company revised its adjusted net income guidance range to US$600m to US$620m, down from the prior range of US$650m to US$710m.Challenger (ASX:CGF) on the other hand soared 4.41% after also reporting first half results that impressed investors. For the half, the company confirmed its guidance for the full financial year, reported record half year Life division sales of $5.5bn, up 11% driven by record annuity sales growth, normalised NPAT rose 5% to $250m, while statutory NPAT was down at $123m, a 4% increase in the company’s interim dividend to 12cps was also announced, and total assets under management of $99.4bn.The winning stocks from today’s session were led by Sims (ASX:SGM) adding over 7%, while Domain Holdings (ASX:DHG) and Coronado Global Resources (ASX:CRN) each gained 5.46% and 4.46% respectively.And on the losing end, Star Entertainment Group (ASX:SGR) tanked almost 13.5% today a day after releasing disappointing first half results, while Ansell (ASX:ANN) fell 8.72% today and Sayona Mining (ASX:SYA) shed 6.12%.The most traded stocks by Bell Direct clients today were led by Pilbara Minerals (ASX:PLS), Core Lithium (ASX:CXO) and Syrah Resources (ASX:SYR).We’ve seen lots of movement on the commodities front in recent times amid reports Russia is going to cut oil production and on the back of China’s reopening. Today, crude oil is trading 1.13% lower at US$79.22/barrel, gold is up 0.23% at US$1857/ounce and iron ore is down 2.38% at US$123/tonne.The Aussie dollar is buying 70 US cents, 91.95 Japanese yen, 57.39 British Pence and 1 New Zealand dollar and 10 cents.

US equities rallied overnight, regaining ground after the S&P500 and the Nasdaq suffered their worst weekly decline in nearly two months. The Dow Jones traded 376.66 points higher or 1.11%, the S&P500 climbed 1.14% and the Nasdaq jumped 1.48%. And the energy minerals sector was the biggest laggard across US markets, with oil and gas companies such as EQT Corporation and Marathon Oil weighing on the sector the most. European markets also advanced in the first session of the week, as investors braced for US inflation data and a euro zone GDP estimate. The STOXX 600 closed 0.9% higher, Germany’s DAX up 0.6%, France’s CAC up 1.1% and the FTSE100 up 0.8%. What to watch today:The SPI futures are suggesting our local market will open 0.67% higher this morning. Reporting season is well underway, with a long list of companies set to release their half year results today. Some big names reporting today include Breville (ASX:BRG), Challenger (ASX:CGF), Charter Hall (ASX:CHC), CSL Limtied (ASX:CSL), Dexus (ASX:DXS), James Hardie (ASX:JHX) and Seek (ASX:SEK), to name a few. Suncorp (ASX:SUN) is set to go ex-dividend, which may see its share price fall as investors take their profits. In economic data out today, NAB will release its business confidence data for January at 10:30am and Westpac will release its data on consumer confidence for February 11:30am AEDT. Then tonight we’ll be watching out for the unemployment rate out in the UK and CPI out in the US. In commodities, Oil prices are slightly lower after rebounding at o above US$80 per barrel in the late hours of trade, after falling much of the session as investors balance supplies from Turkey and Russia while awaiting the US CPI report. Gold is down 0.5% and is sliding toward its lowest levels in five weeks and is remaining under the pressure.  Iron ore is 0.5% higher at US$126 per tonne. Trading Ideas:Bell Potter maintain a BUY rating on Beach Energy (ASX:BPT) following the release its half year earnings, which saw underlying EBITDA of $491m and NPAT of $191m, both consistent with Bell Potter’s estimates. The company also declared a 2cps fully franked dividend. The energy company has strong, fully funded production growth outlook, diversified across five energy basins and across four separate gas markets. Bell Potter have lowered their price target from $2.25 to $2.21 and at BPT’s current share price of $1.52, this implies 45.9% share price growth in a year. Trading Central have identified a bearish signal in CSR Limited (ASX:CSR), indicating that the stock price may fall from the close of $5.04 to the range of $4.98 to $5.09 over 23 days, according to the standard principles of technical analysis.

The local market has started the week in negative territory, closing Monday’s session down 0.21%, dragged lower by a sharp sell-off in consumer discretionary stocks amid the release of some disappointing half year results today. The energy sector on the other hand soared just under 2% today buoyed by an early rise in the price of oil amid reports Russia will cut production of the commodity.Reporting season ramped up today with a number of big names reporting including JB Hi-Fi (ASX:JBH), Endeavour Group (ASX:EDV) and Carsales.com (ASX:CAR).Endeavour Group (ASX:EDV) shares took flight following the release of the results as the company outlined its performance through the first restriction-free festive season in three years. For the first half of FY23, Endeavour Group reported group sales up 2.6% to $6.5bn, Group NPAT rose 17% to $364m which well exceeded consensus expectations, and a dividend per share of 14.3 cps was declared which is a premium of 14.4% on the PCP. CEO Steve Donohue attributed the strong results to customers returning to a more normal holiday period in December, and the return of domestic travel seeing regional and coastal town stores and hotels performing strongly.Star Entertainment Group (ASX:SGR) tanked over 20% to an all-time low share price today after releasing disappointing, unaudited first half results and outlook this morning. The casino and hotel giant said it has been adversely impacted by several factors, in particular by increased operating restrictions from mid-September following the Bell Review and amendments to the NSW Casino Control Act. The company also blamed ongoing remediation actions and high costs for improved compliance, and increased competition for the poor results. For the half, The Star reported Sydney domestic revenue was down 13.5% on pre-COVID levels and will detail the full performance when the final results are released. The company did provide outlook for the remainder of FY23 with the expectation to report underlying EBITDA between $330m - $360m.Monadelphous (ASX:MND) shares rallied today after the engineering group announced it has secured new contracts in the resources and energy sectors totalling around $200m, including with sector leaders like BHP Group (ASX:BHP) and Rio Tinto (AAX:RIO).The winning stocks from today’s session were led by Insurance Australia Group (ASX:IAG) rallying 4.5% on the back of releasing H1 results, while Endeavour Group (ASX:EDV) added 4.11% and Coronado Global Resources (ASX:CRN) jumped 3.6% today. And on the losing end Star Entertainment Group (ASX:SGR) led the losses today plunging 20.8%, while Imugene (ASX:IMU) and Aurizon Holdings (ASX:AZJ) each fell 10.34% and 6.5% respectively.The most traded stocks by Bell Direct clients today were BHP Group (ASX:BHP), New Hope Corporation (ASX:NHC) and Suncorp Group (ASX:SUN).Taking a look at commodities oil has pivoted lower this afternoon to trade to trade at US$78.73/barrel on rate hike worries, while gold is down 0.32% at US$1858/ounce and iron ore is trading up 0.4% at US$126/tonne.The Aussie dollar is buying US$0.69, 91.33 Japanese Yen, 57.32 British Pence and NZ$1.10.

Technology retailer JB Hi-Fi (ASX:JBH) released first half results this morning with performance coming in, in-line with Bell Potter and Citi expectations, but just short of Consensus expectations.For the half, JB Hi-Fi reported total sales rose 8.6% to $5.28 billion driven by elevated demand for consumer electronics and home appliances INCLUDING well executed Black Friday and Boxing day sales. EBIT rose 14% over the half to $479.2 million, NPAT increased 14.6% to $329.9 million, and EPS rose 20.4% to 301.8cps. An interim dividend was announced, up 20.9% to 197cps or $1.97/share.The company also owns The Good Guys which experienced a 7.3% rise in total sales to $1.54bn over the half, driven by key growth in Refrigeration, laundry, floorcare, visual and Audio sales.Notably, the company failed to provide any quantitative outlook for the second half of FY23 which we have seen investors punish companies for on the share price front this reporting season already.The company’s CEO Terry Smart said trading conditions starting to normalise following two-years of COVID-disruptions. “Our relentless focus on providing the best value and high levels of customer service every day, both in store and online, continues to resonate with our customers.”As markets expect a decline in consumer spending on discretionary goods over the coming months in this high interest rate environment, we may see some headwinds faced for JB Hi-Fi to come over the second half of FY23.

The local market ended Friday’s session down 0.76% as every sector aside from consumer staples stocks ended the day in the red, heavily weighed down by a sharp sell-off in technology stocks. The local market suffered its worst trading week since September last week, ending the week down 1.65%, weighed down by a sharp sell-off in real estate and tech stocks.The winning stocks on Friday were, Imugene Limited (ASX:IMU) rallying 7.41%, while United Malt Group (ASX:UMG) and Johns Lyng Group (ASX:JLG) each added 4.8% and 3.53% respectively. And on the losing end, New Hope Corporation (ASX:NHC) tumbled 8.61% on a fall in the price of coal. News Corp (ASX:NWS) and Capricorn Metals (ASX:CMM) each fell 6.8% and 6.3% respectively.The most traded stocks by Bell Direct clients on Friday were Fortescue Metals Group (ASX:FMG), Arafura Rare Earths (ASX:ARU) and the BetaShares Geared Australian Equity Hedge Fund (ASX:GEAR).Over in the US, Wall St closed mixed on Friday as investor optimism faded on the back of comments made by Fed Chair Jerome Powell about inflation in the region starting to cool but there still being a long way to go in terms of rate hikes to cool inflation to the target range. The Dow Jones rose 0.5% the S&P500 rose 0.22% but the tech-heavy Nasdaq fell 0.61%. Google parent, Alphabet’s, shares fell more than 4% on Friday as investors grow increasingly concerned about the rising competition in the artificial intelligence space, especially from new market entrant, ChatGP.And in Europe, markets closed lower on Friday as investors in the region also keep a close eye on the US fed’s movements and commentary around further rate hikes to come. UK preliminary fourth-quarter GDP figures were also out on Friday showing the UK economy expanded by 0.01%, narrowly avoiding a recession. The FTSE100 closed Friday’s session 0.36% lower, while Germany’s DAX lost 1.39%, and the French CAC fell 0.82%.What to watch today:Ahead of the local trading session, the SPI futures are anticipating the ASX to open flat to start the new trading week.On the reporting season calendar for today, Beach Energy (ASX:BPT), Endeavour Group (ASX:EDV) and JB HiFi (ASX:JBH) are all set to release first half results.In commodities, crude oil is trading 2.13% higher at US$79.72/barrel, coal is down 3.33% at US$218/tonne, gold is up 0.21% at US$1865.38/ounce and iron ore is up 0.4% at US$126/tonne.The Aussie dollar is buying US$0.69, 90.96 Japanese Yen, 57.3 British Pence and NZ$1.10.Trading Ideas:Bell Potter has downgraded its price target on GrainCorp (ASX:GNC) from $8.25 to $8.00 but maintains a Hold rating on the company following the release of GrainCorp’s recent harvest update ahead of the company’s AGM. The recent update demonstrates receivals are lagging other large crop years, as well as spot Australian canola meal has moved from a premium to a discount compared to Canadian meal.Trading Central has identified a bullish signal on Neometals (ASX:NMT) following the formation of a pattern over a period of 71-days which is roughly the same amount of time the share price may rise from the close of $0.87 to the range of $1.04 to $1.08 according to standard principles of technical analysis.

The Aussie share market fell almost 1% (Mon-Thu), on the back of the RBA raising the nation's cash rate by 25-basis points to 3.35%. And reporting season opened with some of Australia’s biggest companies announcing their results.  In this week's wrap, Grady covers:(0:30) How investors have reacted to company results(0:57) Suncorp, Boral, AGL Energy & Amcor's corporate earnings(4:25) The best performing stocks in the ASX200(5:50) The most traded stocks & ETFs by Bell Direct clients(6:23) Three economic news items to watch out for

New York edged lower overnight amid renewed rate-worry weakness. All three major benchmarks closed in the red, and all eleven of the S&P500 industry sectors closed lower. The Dow Jones is down 0.7%, the S&P500 down 0.9% and the Nasdaq down just over 1%.Over in Europe however, equities rallied, with the STOXX 600 closing 0.6% higher, Germany’s DAX up 0.7%, France’s CAC up 1% and the FTSE 100 up 0.3%.What to watch today:Following US equities overnight, the SPI futures are suggesting the ASX200 will drop 0.35% at the open this morning.In commodities, oil prices are down almost 1%, pausing a three-day rally as rising US inventories offered a bleak picture for domestic demand. Gold is also in the red again, after rebounding further from one-month lows. And iron ore is down 0.5% to US$124 per tonne.In economic news, today the RBA will release a statement on monetary policy.And companies reporting today includes News Corp (ASX:NWS) and REA Group (ASX:REA).United Malt Group (ASX:UMG) is set to hold its AGM today.Trading Ideas:Bell Potter maintain a BUY rating on DDH1 (ASX:DDH) following a strong set of preliminary earnings results. They have increased their price target from $1.44 to $1.47, and at DDH’s current share price of $0.99, this implies 48.5% share price growth in a year.Trading Central have identified a bearish signal in Perseus Mining (ASX:PRU) indicating that the stock price may rise from the close of $2.04 to the range of $1.63 - $1.71, over 62 days, according to the standard principles of technical analysis.

The overnight retreat on Wall Street weighed down the local stock market, with the ASX200 closing the day 0.53% lower. The utilities sector led the fall on the back of the weak half year result from AGL Energy. It’s shares dropped 9.6% as it halved its dividend and lowered the top end of its annual guidance ranges. Underlying NPAT fell 55% year-on-year to $87 million, and underlying EBITDA fell 16% to $604 million. The company reported a statutory loss after tax of $1.1 billion, which includes $706 million of impairment charges (post-tax) from AGL’s accelerated decarbonisation plans.Technology stocks tracked the softness of their US peers – Megaport (ASX:MP1) dropped more than almost 6%, after reporting promising results. The company finished the period with an EBITDA margin of 6%, and total revenue was up 38% to $70.7 million.Financials were mixed today, after ANZ reported a solid first quarter. Its shares closed higher, while its major rivals were lifted about 0.2%.Taking a look at commodities, well the first Australian coal cargoes have arrived in China and are awaiting customs clearance. Two vessels carrying Australian coal have reached China for the first time since an unofficial ban on imports was introduced over 2 years ago and several more are on the way. They are being closely monitored by coal traders as they are keen to see how smooth Chinese customs procedures will be.And the winning stocks today were De Grey Mining (ASX:DEG), IDP Education (ASX:IEL) and Downer (ASX:DOW). The stocks that declined the most were AGL Energy (ASX:AGL), Coronado Global Resources (ASX:CRN) and Whitehaven Coal (ASX:WHC).And the most traded stocks today by Bell Direct clients were BHP(ASX:BHP), Argosy Minerals (ASX:AGY), Whitehaven Coal (ASX:WHC), AGL (ASX:AGL) and ANZ (ASX:ANZ).Lastly, the Australia dollar is slightly higher, with $1 buying US$0.70, 57.93 British Pence, 91.42 Japanese Yen and NZ$1.10.

US stocks slid at the closing bell of the midweek session as investors shifted focus back to corporate earnings reports and away from dovish comments by Fed Chair Jerome Powell about the future of US cash rate hikes amid slowing economic growth.Lumen Technologies tanked more than 20% after reporting a fourth-quarter loss of US$3.1bn and provided guidance for the year that fell well short of Wall St expectations. Disney on the other hand reported results after the closing bell that topped analysts’ expectations including a loss of US$1.05bn which was less than Wall Street had predicted, earnings per share of 99 cps, well above the expected 78 cents per share, revenue of US$23.61bn and total Disney+ subscriptions of 161.1m which declined by around 2.4million on the back of a recent price increase. The Dow Jones fell 0.61%, the S&P500 tumbled 1.11%, and the Nasdaq lost 1.68% on Wednesday.Over in Europe markets rallied on Wednesday following dovish comments from Fed chair Jerome Powell as well as investors digesting mixed corporate earnings reports. Jewellery company Pandora rose 12% on upbeat earnings results including quarterly sales hitting 9.9 billion Danish Crowns or $1.43 billion dollars, and annual sales around 26bn in 2022. The UK’s FTSE100 hit an intraday record high before paring back gains to close the day up 0.3%. In Germany, the DAX added 0.6% while the French CAC fell 0.18% on Wednesday. What to watch today:Taking a look at commodities today, crude oil is trading 1.57% higher at US$78.35/barrel, gold is flat at US$1874/ounce and iron ore is trading down 0.8% at US$124.50/tonne.The Aussie dollar is buying US$0.69, 90.97 Japanese yen, 57.56 British pence, and NZ$1.10.Ahead of the local trading session the market is expected to open 0.42% lower following the sell-off on Wall St overnight.On the economic data front today, there is no local economic data out today however investors will be awaiting the release of the RBA statement on Monetary Policy out tomorrow. Trading Ideas:Bell Potter has increased the price target on Microba Life Sciences (ASX:MAP) from $0.40 to $0.60 following the execution of an exclusive distribution agreement with Luminary Health Centres to distribute a microbiome test powered by Microba’s testing technology, to consumers in the US. Bell Potter sees the deal has locked in revenue for the next 12-months and is the driver of the price target increase for Microba.Trading Central has identified a bullish signal on Race Oncology (ASX:RAC) following the formation of a pattern over a period of 36-days which is roughly the same amount of time the share price may rise from the close of $2.05 to the range of $2.15-$2.19 according to standard principles of technical analysis.

The ASX rallied 0.35% today, rebounding from yesterday’s rate-driven sell-off as investors piled into financial and material stocks today, while selling out of health care and consumer staples stocks.Boral (ASX:BLD) shares took flight today, adding over 12% after the building and construction materials supplier released first half results including revenue up 12% to $1.681bn, EBIT up 15% at $95.3m, NPAT increased 53% to $56.8m and adjusted EPS rose 50% to 5.1c/share. New Boral CEO Vik Bansal said RBA rate hikes haven’t crimped customer demand for cement, asphalt and gravel.Suncorp (ASX:SUN) shares jumped 4.5% today after the Queensland-based financial conglomerate released first half results including group net profit up 44.3% to $560m, and cash earnings up 62.9% to $588m. The company also boosted its dividend payout to 33 cents per share, representing a 71% payout ratio of cash earnings. Group operating expenses fell 3.1% to $1.349bn, largely reflecting efficiency benefits from the strategic program of work, and the company reaffirmed its FY23 financial targets which investors have been looking for companies to share this reporting season.Strike Energy (ASX:STX) has accepted Hancock Prospecting’s takeover offer of Warrego Energy for $0.40/share, over its own one-for-one scrip offer for the takeover of Warrego. Strike said despite not acquiring control of Warrego, it has achieved a number of key milestones over the last 6-months including share price appreciation of 40%, $116m in immediately available cash funding following the acceptance of Hancock’s offer, and Strike’s joint venture partner will be controlled by a credentialed, well-funded and motivated counterparty to pursue development activity in respect of the West Erregulla gas project.The winning stocks today were led by Boral (ASX:BLD) soaring almost 13%, Imugene (ASX:IMU) rallying 7.7% and Suncorp (ASX:SUN) climbing 4.6%.And on the losing end of the market, Elders (ASX:ELD) fell more than 5.8% after the company was sent a price query from the ASX today, while Healius (ASX:HLS) fell 5.4% and Ramelius Resources (ASX:RMS) lost 4.12% today.The most traded stocks by Bell Direct clients today were Macquarie Group (ASX:MQG), Pilbara Minerals (ASX:PLS) and Tennant Minerals (ASX:TMS).On the commodities front this afternoon, crude oil is flat at US$77.16/barrel, iron ore is down 0.8% at US$124.50/tonne and gold is up 0.13% at US$1876.33/ounce.The Aussie dollar is buying 70 US cents 91.32 Japanese Yen, 57.24 British Pence, and 1 New Zealand Dollar and 10 cents.

Over in the US today, stocks closed higher as investors digested Fed Chair Jerome Powell’s speech to gain insight into just how long the Fed will continue raising interest rates to tackle inflation in the US. Jay Powell once again made dovish comments in his speech, reassuring markets that the disinflationary pressures have begun, particularly in the goods sector, while also saying that the Fed has the strategy in place to bring down inflation to its target 2%. At the same time, Jay Powell acknowledged the robust January jobs report but mostly shrugged it off.Stocks recovered from an early sell-off after Powell’s speech, with the Dow Jones closing Tuesday’s session up 0.8%, the S&P500 adding 1.29% and the tech-heavy Nasdaq jumped 1.9%.US trade balance data for December was also released yesterday showing the US trade deficit widened to US$67.4bn in December, the lowest level since September 2020, and down from US$61bn in November. Exports in the region fell 0.9% for the month while imports rose 1.3%.In Europe, markets closed mostly lower as investors look to the latest slew of economic data and interest rate outlook. The euro zone PMI index showing business activity in a single currency returned to growth in January for the first time in 6-months, while the US jobs report last Friday came in much stronger than expected. Germany’s DAX fell 0.16%, the French CAC fell 0.07% and, in the UK, the FTSE100 rose 0.36%.On the commodities front, oil is trading 3.5% HIGHER at US$76.71/barrel, gold is down 0.51% at US$1877.39/ounce and iron ore is down 0.8% at US$125.50/tonne.What to watch today:Ahead of the local trading session here in Australia, the ASX is poised to open 0.46% higher following the rally on Wall St overnight.The Aussie dollar is buying 69 US cents, 90.99 Japanese Yen, 57.24 British Pence and 1 New Zealand dollar and 10 cents.Trading Ideas:Bell Potter has maintained a buy rating on luxury online fashion retailer Cettire (ASX:CTT) following the release of the company’s first half results yesterday. For the half, Cettire reported sales revenue of $187.7m, up 65% on the PCP and a strong start to the second half with 80% sales revenue increase in January. Bell Potter has also increased its price target on Cettire to $2.40 from $2.30 on the belief that Cettire will continue to outperform its peer group consisting of global luxury retailers and local e-commerce players given its less than 1% market share in a large and growing market which could remain more resilient than other discretionary categories.Trading Central has identified a bullish signal on Medibank Private (ASX:MPL) following the formation of a pattern over a period of 74-days which is roughly the same amount of time the share price may rise from the close of $3.03 to the range of $3.21-$3.25 according to standard principles of technical analysis.

The RBA today announced the nation’s cash rate will increase by 0.25% or 25 basis points, to 3.35% in a move widely expected by the markets. RBA governor Philip Lowe said ‘global inflation remains very high’ and warned further rate hikes will be needed in coming months to bring inflation back to the target range.The ASX tanked immediately after the announcement following warnings from Philip Lowe that further rate hikes are needed in coming months, despite the rate hike today meeting market expectations, which saw the usual rate-hike sensitive suspects including REIT stocks sold off post the announcement as investors anticipate further impact to REIT stock balance sheets on the back of this next interest rate hike.For the day though, the key index ended the session down 0.46%. Hot takeover target Nitro Software (ASX:NTO) received a proposal from Potentia Capital to engage with Nitro in relation to gaining access to due diligence, with a view to potentially increase its current $2/Nitro share off-market takeover offer to the range of $2.20 to $2.30 per share. Nitro shareholders are cautioned that there is no certainty Potentia will increase its offer for the Nitro takeover, and the current $2/share bid from Potentia is inferior to the Alludo takeover offer of $2.15/share that is set to expire on 3rd March. The Nitro board is currently seeking advice from its external financial and legal advisors.Nuix (ASX:NXL) skyrocketed 40% today after the investigative analytics and intelligence software company announced the Federal Court of Australia has delivered its judgement in relation to the proceedings brought by former Nuix boss, Edward Sheehy against Nuix. The Federal Court this morning dismissed Mr Sheehy’s claims and said there is no requirement for Nuix to amend its options register and that Mr Sheehy is not entitled to any monetary compensation from the company. The initial claims Mr Sheehy made were him being owed options and entitlement of shares to the value of $183m plus interest, which today was dismissed.The winning stocks today were led by New Hope Corporation (ASX:NHC) rallying 3.70%, Link Administration (ASX:LNK) adding 3.43% and Magellan Financial Group (ASX:MFG) ending the day up 3.36%.And on the losing end ARB Corp (ASX:ARB) tanked more than 12% after Macquarie responded to the companies half year trading update, downgrading ARB to neutral. Lifestyle Communities (ASX:LIC) fell 5.7% today and Centuria Capital (ASX:CNI) lost 5.58%.The most traded stocks by Bell Direct clients today were Newcrest Mining (ASX:NCM), Telix Pharmaceuticals (ASX:TLX) and New Hope Corporation (ASX:NHC).Australia’s trade balance data for December was also released today, showing the country’s trade surplus declined to $12.237bn for the month, down from $13.475bn in November. The trade surplus decline was larger than economists were expecting and mainly driven by surging cost pressures on exports against imports growing amid China’s easing of tough COVID restrictions. Exports for the month fell 1.4% from November, while imports rose 1% from November. Overall, Australia posted its fifth straight year of trade surplus buoyed by robust sales of key commodities like iron ore and natural gas.Taking a look at commodities, oil is trading almost 1% higher at US$74.78/barrel, gold is up 0.32% at US$1873.11/ounce and iron ore is down 0.8% at US$125.50/tonne.

Looking at global markets, the energy sector is underperforming: it’s been the worst performing sector month-to-date in all regions. Weakness in energy equities has coincided with that of energy commodities: all members of the petroleum complex, are down year-to-date, as well as Natural Gas down 41% so far in 2023. Information technology on the other hand, has outperformed everywhere, in particular, the sector’s lead the most pronounced in Canada, where information tech has outperformed their S&P TSX Composite by more than 5% so far this month. Overnight, all three US benchmarks closed lower. The Dow closed down 0.1%, making up some ground after losing more than 240 points earlier in the session. The S&P500 down 0.6% and the Nasdaq down 1%. US Treasury yields rose on bets the Federal Reserve has more room to lift rates. The yield on the US 10-year note surged 10 basis points to 3.63%. Markets in Europe also fell. The STOXX 600 closed 0.8% lower with all sectors but healthcare and utilities trading in the red. What to watch today:The SPI futures are suggesting that our local market will open 0.11% lower this morning, after US stocks extended losses. Investors are awaiting the policy decision by the Reserve Bank. It is widely expected that the RBA will lift the cash rate a further 25 basis points and that announcement is scheduled for 2:30pm AEDT today. Also, in economic news, Australia’s Balance of Trade data for December will be out at 11:30am. The last announcement was in November, when Australia saw its largest trade surplus since June.  Company earnings to watch out for today: Cettire (ASX:CTT) and Transurban Group (ASX:TCL) will release their half-year results, while Macquarie (ASX:MQG) is set to release their quarterly report. In commodities: Oil prices are trading 1.6% higher at US$74.55 per barrel. And China’s economy may be looking at a stronger-than-anticipated rebound that will boost demand for crude. Gold is steady, hovering near its lowest level in a month, amid a general US dollar strength, as stronger-than-expected US jobs data suggested the Fed has more room to hike interest rates. Iron ore is up 1% at US$126.50 per tonne. Trading Ideas:Bell Potter maintain a Buy rating on Adrad Holdings (ASX:AHL) and it’s well worth a look at the current share price. The company is profitable, it just reiterated guidance, they have a strong cash position and FY23 PE ratio of less than 10 times. The downside however is that the CEO has announced intention to resign, the earnings outlook this year is flat and liquidity is low. However, Bell Potter haven’t changed to their forecasts. They forecast FY23 revenue and EBITDA of $137.9 million and $16.6 million, consistent with the guidance. They have lowered their price target by 6% to $1.60 and at AHL’s current share price of $1.05, this implies 51.7% share price growth in a year. And lastly, Trading Central have identified a bearish signal in Northern Star Resources (ASX:NST) indicating that the stock price may fall from the close of $12.58 to the range of $11.65 to $11.85 over 24 days according to the standard principles of technical analysis. 

The local market started the week in negative territory, closing the day down 0.25%, ahead of the RBA’s rate hike decision for February out tomorrow, which is the first interest rate decision for 2023. Real estate stocks were the hardest hit today as investors anticipate the impact another rate hike will have on RIET stock balance sheets, with the sector closing Monday’s session down more than 1.6%. Furniture retailer Nick Scali (ASX:NCK) tumbled more than 13% today after posting first half results including a 12.1% decline in written sales orders for January 2023, revenue growth of 57.4% and NPAT up 70.2% on the prior corresponding period. Investors may be selling out of the furniture retailer’s shares today after the company failed to provide guidance beyond January, citing it ‘2H FY23 results will depend upon trading during February to April and at this point it is difficult to provide further guidance’, which didn’t impress investors, sparking fears of tougher times to come as interest rates continue rising and consumer spending declines.Beach Energy (ASX:BPT) shares lifted today after the gas producer released an update on its Waitsia Stage 2 project. The oil and natural gas explorer and producer today said it has reached an agreement with Webuild for the completion of the Waitsia stage 2 project with the Waitsia joint venture and Webuild now targeting first gas by the end of 2023, 6-months later than the original target date, at an increased CAPEX estimate of $400-$450m, up from the original $350-$400. Webuild’s acquisition of Clough, who was originally contracted to complete the Waitsia project, will see a seamless transition for the Webuild team to complete the Waitsia project.Hot takeover target Warrego Energy (ASX:WGO) rose 3% today after Gina Rinehart’s Hancock Prospecting confirmed it has increased its takeover bid for the company to 36 cents per share from 28 cents per share, to end the bidding war over Warrego with Hancock Prospecting now having a 50.54% stake in the company. The increase in Hancock’s holding was made possible by Hancock partner Mineral Resources selling its shares in Warrego to Hancock for 36 cents per share.The winning stocks from today’s session were Newcrest Mining (ASX:NCM) adding 9.3% after receiving a takeover offer, Beach Energy (ASX:BPT) rallied 3.7% on the Waitsia update and Incitec Pivot (ASX:IPL) added 3.22%. And on the losing end, Lake Resources (ASX:LKE) led the losses today closing down 6.21% while Sayona Mining (ASX:SYA) fell 5.77% and Core Lithium (ASX:CXO) dropped 5.75% today.The most traded stocks by Bell Direct clients today were Rio Tinto (ASX:RIO), Newcrest Mining (ASX:NCM) and Macquarie Group (ASX:MQG).Taking a look at commodities crude oil has recovered this afternoon to trade 0.18% higher at US$73.51/barrel as the International Energy Agency sees China’s economy could be poised for a stronger-than-expected rebound which will boost demand for crude. Coal is down 3.67% at US$236/tonne, gold is up 0.66% at US$1877/ounce and iron ore is up 0.8% at US$126.50/tonne.The Aussie dollar is buying US$0.69, 91.51 Japanese Yen, 57.26 British Pence and NZ$1.10.

The local market ended the week 0.86% higher following a 0.62% rally on Friday led by a surge in healthcare and real estate stocks, while investors sold out of utilities and materials stocks on Friday.The winning stocks from Friday’s session were Pinnacle Investment Management (ASX:PNI) adding 9.58%, BrainChip Holdings (ASX:BRN) rallying 5.56%, and HMC Capital (ASX:HMC) adding almost 5%. On the losing end of the market on Friday, investors sold out of Ramelius Resources (ASX:RMS), Paladin Energy (ASX:PDN) and Regis Resources (ASX:RRL), with each losing over 6.5%.The most traded stocks by Bell Direct clients on Friday were CSL Limited (ASX:CSL), Whitehaven Coal (ASX:WHC) and Pilbara Minerals (ASX:PLS).Over in the US on Friday, markets turned lower after surprisingly strong jobs data sparked concerns over the Fed’s aggressive interest rate stance moving forward, and investors digested a mixed bag of earnings reports. US jobs growth accelerated sharply in January with nonfarm payrolls surging to 517,000 jobs for the month, well above the expectation of 185,000 jobs added in the month. The US unemployment rate hit a more than 53 year low of 3.4% in another sign the US labour market remains tight despite the Fed’s best efforts to cool inflation and ease the tight labour conditions. Apple shares rose 2.4% on Friday after the tech giant forecast that revenue would fall for a second straight quarter but that iPhone sales would likely improve as production in China returns to normal. The Dow Jones closed Friday’s session 0.38% lower, the S&P500 lost 1.04% and the Nasdaq fell 1.59%.Over in Europe, markets closed mostly higher on Friday as investors digested key central bank interest rate decisions, economic data and corporate earnings reports. The UK’s FTSE100 hit a record high on Friday partly driven by the pound dropping against the USD. The markets also rallied despite the Bank of England raising interest rates to their highest level since 2008 on Thursday.Germany’s DAX fell 0.21% on Friday, while the French CAC rallied almost 1% and, in the UK, the FTSE100 rose 1.04%.What to watch today:Ahead of the local trading session the SPI futures are anticipating the ASX to open Monday’s session 0.16% higher.On the commodities front oil is trading sharply lower, down 3.28% at US$73.39/barrel, iron ore is up 0.8% at US$126.50/tonne and gold is down 2.48% at US$1864.91/ounce.The Aussie dollar is buying US$0.69, 91.37 Japanese Yen, 57.43 British Pence, and NZ$1.09.On the economic data front investors will be awaiting the RBA’s latest interest rate decision out tomorrow alongside Australia’s trade balance data for December also out tomorrow.Trading Ideas:Trading Central has identified a bullish signal on Lendlease Group (ASX:LLC) following the formation of a pattern over a period of 81-days which is roughly the same amount of time the share price may rise from the close of $8.97 to the range of $10.60-$10.90 according to standard principles of technical analysis.Trading Central has identified a bullish signal on Chorus (ASX:CNU) following the formation of a pattern over a period of 34-days which is roughly the same amount of time the share price may rise from the close of $7.89 to the range of $8.31-$8.41 according to standard principles of technical analysis.

The Aussie share market added 0.24% this week (Mon-Thu), as investors awaited the highly anticipated rate decision out of the Federal Reserve in the US. Information technology stocks had the biggest boost this week, coat tailing on the tech-heavy Nasdaq as investors regain appetite for growth stocks.  In this week's wrap, Grady covers:(0:28) Where inflation is hitting hardest in the current environment(2:07) What the current inflation rate & RBA rate hike means for markets(3:36) The best performing stocks in the ASX200(5:06) The most traded stocks & ETFs by Bell Direct clients(5:36) Three economic news items to watch out for

US stocks eased in afternoon trade, with earnings pending after the closing bell from Apple, Alphabet and Amazon. The Nasdaq was up more than 2% when the final hour of the session began, after rising 3.5% earlier in the day. The Nasdaq’s rally was boosted by Meta Platforms, which was 22% higher by 3pm after the company announced its plans to buy US$40 billion worth of its own shares. The Nasdaq then rebounded, closing the session 3.25% higher, while the S&P500 closed 1.47% higher and the Dow Jones ended 0.11% in the red.European markets rallied overnight, with all major benchmarks closing higher, after the Bank of England and the European Central Bank announced they’d would hike interest rates by 50 basis points, as widely expected.What to watch today:The SPI futures are this morning indicating that our local market will open 0.13% higher this morning. In commodities, oil prices edged lower overnight. The gold price is set to end the week in the red, currently trading 1.9% lower. While iron ore has also dropped, after rallying in the previous session, as global economic growth concerns appear to weigh on prices.Economic data to watch out for: tonight the unemployment rate for January in the US will be announced, and the Producer Price Index for December for the Eurozone will be announced as well.CSL Limited (ASX:CSL) share price will be on watch today, after competitor GSK received FDA approval for a competing drug. CSL is also set to release its half-year earnings on February 14th. Ahead of the announcement, Morgan Stanley reiterated their Overweight rating on CSL, with a target of $354.And the Australian dollar is currently buying US$0.71, 57.01 British Pence, 91.75 Japanese Yen and NZ$1.09.Trading Ideas:Bell Potter maintain a Buy rating on DGL Group (ASX:DGL). They’ve made no net changes to the drivers of the company’s underlying business but have upgraded their EPS forecasts 2-7% across FY23-25 expectations. That’s for the recent all cash Nightingale Transport acquisition for $18.2 million, which is an attractive deal in Bell Potter’s view. There is no change to the BUY rating, however Bell Potter’s price target is reduced from $2.25 to $2. At DGL’s current share price of $1.49, this implies 34.2% share price growth in a year.And Trading Central have identified a bullish signal in IDP Education (ASX:IEL), indicating that the stock price may rise from the close of $31.80 to the range of $36.25 to $37.25 over 26 days, according to the standard principles of technical analysis.

The ASX followed in Wall Street’s footsteps on Thursday after the Fed eased its rate hike pace for February. The local market rallied 0.13% on Thursday driven by a surge in technology stocks after the Nasdaq rose more than 2% in the US overnight.CBA economist Gareth Aird today said there’s a risk the Reserve Bank raises interest rates by 40-basis points next Tuesday coupled with a statement of an intention to pause. The prediction comes as wider markets expect a 20-basis point rate hike from the RBA on Tuesday.Pinnacle Investment Management shares took a dive today after the company missed earnings expectations in half year results. The company reported profits down 24% in the prior corresponding period which fell short of UBS estimates, and EPS fell 8% below Macquarie’s expectations. The hardest hit to Pinnacle was the company reporting affiliates generated performance fees which contributed only $900k to Pinnacles profits, down from $6.4m prior. UBS also downgraded Pinnacle to a sell rating from neutral prior to the results being released.The winning stocks from today’s session were Megaport (ASX:MP1) adding 11.11%, Xero (ASX:XRO) rallied 7.5% and Wisetech Global (ASX:WTC) rose 6.77%.And on the losing end of the market QBE (ASX:QBE) Insurance fell 4.76%, Computershare (ASX:CPU) lost 3.63% and Virgin Money UK (ASX:VUK) lost 3.6%.The most traded stocks by Bell Direct clients were Rio Tinto (ASX:RIO), Wesfarmers (ASX:WES) and CSL (ASX:CSL).On the commodities front, oil is up 1.21% at US$77.33/barrel, gold is up 0.13% at US$1952/ounce and iron ore is down 0.78% at US$128/tonne.The Aussie dollar is buying 71 US cents, 91.84 Japanese Yen, 57.43 British Pence and 1 New Zealand dollar and 9 cents.The bank of England interest rate decision is out later tonight with the market expecting a 50-basis point hike, which is likely to impact the FTSE100’s session on Thursday in the UK.

The Federal Reserve has raised the US cash rate by 25-basis points as the market expected at the conclusion of the FOMC meeting overnight. The Fed has now eased rate hikes for a second straight month for the cash rate to sit between 4.5%-4.75% but said it will need to continue raising rates in order to reach a stance of monetary policy that is sufficient to return inflation to the target 2%. Recent favourable economic data including lower consumer spending and slowing economic growth in the US were contributing factors to the Fed’s rate hike decision.US markets rebounded in afternoon trade to close the day higher as the Fed pulled back its pace of rate hikes. The Nasdaq rose 2% boosted by gains in chipmakers on the back of strong earnings out of Advanced Micro Devices. The S&P500 reversed an earlier loss to close the session up 1.05% and the Dow rose 0.02% at the closing bell.European markets closed mixed on Wednesday as investors awaited the Fed’s latest interest rate decision which was released after the closing bell in Europe. Germany’s DAX added 0.35%, while the French CAC fell 0.07% and in the UK the FTSE100 fell 0.14%.Investors expected the 25-basis point rate hike announced by the Fed overnight however will continue to monitor commentary around the decision to gain any insight into what other central banks around the world might do at their respective rate hike meetings over the coming days.What to watch today:On the economic calendar today the Bank of England’s latest interest rate decision will be announced later tonight with the market expecting a 50-basis point rise to 4%.The SPI futures are anticipating the local market to open 0.31% higher buoyed by the strong session on Wall St overnight.On the commodities front, oil is trading 2.41% lower at US$76.97/barrel, gold is up 1.02% at US$1947.40/ounce and iron ore is down 0.77% at US$129/tonne.The Aussie dollar is buying 71 US cents, 91.83 Japanese yen, 57.01 British pence and 1 New Zealand dollar and 10 cents.Trading Ideas:Bell Potter has upgraded its rating and price target on Gold Road Resources (ASX:GOR) to a buy rating and a price target of $1.95 following the release of the company’s fourth quarter results including a revaluation of the company’s listed investments. The company’s 50%-owned Gruyere mine is beginning to yield increasing cash flow and earnings as production expands to greater than 350 thousand ounces per annum. Gold Road Resources also has a 19.99% stake in De Grey Mining (ASX:DEG), owner of the Mallina Gold Project, where 8.5 million ounces of gold have been delineated at the Tier-1 ‘Hemi Mining Centre’.Trading Central has identified a bullish signal on The Lottery Corp (ASX:TLC) following the formation of a pattern over a period of 12-days which is roughly the same amount of time the share price may rise from the close of $4.86 to the range of $5.12 to $5.20 according to standard principles of technical analysis.

The ASX closed the midweek session at a nine-month high, ending the day up 0.33% as investors piled into real estate and materials stocks, while selling out of energy and technology stocks.Head of economic analysis at the RBA Marion Kohler said inflation has peaked and will begin to ease over the course of this year. She said the RBA remains focused on returning inflation to the target range and establishing a more sustainable balance of demand and supply in the Australian economy.Flight Centre (ASX:FLT) shares took flight today, closing the session up over 8% after successfully completing a $180m placement through the issue of 12.3 million new shares. The Placement was strongly supported by existing and new institutional investors with demand exceeding the Placement size. The proceeds from the placement will be used to fund the acquisition of a 100% interest in Luxury Travel Holdings to grow Flight Centre’s leisure presence in the US and UK luxury markets.Credit Corp (ASX:CCP) kicked off earnings season today with a bang, as the company closed the day up almost 1% on the back of first half results including 32% growth in the consumer loan book, on track for record full year consumer lending segment earnings, and a significant step-up in US resourcing to meet the opportunity in the region. Credit Corp also reported a 30% decline in NPAT to $31.8m due to up-front loss provisioning and marketing expense from rapid loan book growth, costs arising from increased US resourcing and run-off in the core AU/NZ debt buying segment.The winning stocks from today’s session were Flight Centre (ASX:FLT) adding over 8%, James Hardie Industries (ASX:JHX) climbing 4.3% and Imugene (ASX:IMU) rallying 3.7%.And on the losing end Pinnacle Investment Management (ASX:PNI) fell 7.21%, Paladin Energy (ASX:PDN) lost 4.12% and Telix Pharmaceuticals (ASX:TLX) shed 3.7%.The most traded stocks by Bell Direct clients today were CSL (ASX:CSL) , Beach Energy  (ASX:BPT) and Rio Tinto (ASX:RIO).On the commodities front, oil has risen to trade at US$ /barrel amid easing fears that the world’s largest oil user, the US, may face a recession on rising interest rates in the region. The price of oil is on watch ahead of the US Fed’s rate decision and production guidance from OPEC and its allies. Gold is trading, flat at US$1927/ounce and Iron ore is down 0.77% at US$129/tonne.The Aussie dollar is buying 71 US cents, 91.90 Japanese Yen, 57.26 British Pence and 1 New Zealand dollar and 10 cents.Investors globally will be awaiting the release of the Fed’s interest rate decision overnight with markets expecting a rise of just 25-basis points.

The US market closed higher on Tuesday following the release of upbeat earnings results and encouraging economic data. General Motors shares rose over 8% on Tuesday after reporting quarterly results that surprised markets including earnings per share of $2.12 and revenue of $43.11bn which both well exceeded analysts’ expectations. The Dow Jones rose 1.1%, the S&P500 gained 1.47% to record its best January since 2019, and the Nasdaq ended the day up 1.67% for its best January since 2001.The Fed’s FOMC meeting ends today and has investors weighing up whether the fed will continue its aggressive rate hike strategy or whether recent favourable economic data will ease the fed’s stance including personal spending in the US falling by 0.2% for the second consecutive month in December, and US CPI showing goods and services prices have dropped for the first time since May 2020 as the inflation rate fell to 6.5% for December, down from 7.1% in November. The expectation is for a 25-basis point rate hike to be announced for the month, which is the lowest since March 2022.Over in Europe, markets closed Tuesday’s session lower despite eurozone growth figures coming in ahead of estimates with growth of 0.1% in the last quarter of 2022. Investors in the region are now focused on the European Central Bank’s interest rate decision out on Thursday. German retail sales for December showed a surprise fall which paints a mixed picture of economic conditions in the region ahead of the rate decision out tomorrow. Germany’s DAX and the French CAC each closed Tuesday’s session flat, but the FTSE100 in the UK fell 0.17%.What to watch today:Ahead of the local trading session, the SPI futures are anticipating the ASX to open the midweek session 0.43% higher on the back of the strong session on Wall St on Tuesday.The Aussie dollar is buying US$0.70 US cents, 91.81 Japanese Yen, 56.91 British Pence and NZ$1.09.On the commodities front, oil is up 1.17% at US$78.81/barrel, gold is up 0.34% at US$1929/ounce and iron ore is up 4.42% at US$130/tonne.Trading Ideas:Bell Potter has increased its price target on Aroa Biosurgery (ASX:ARX) from $1.40 to $1.45 and maintain a buy rating on the healthcare company following the release of the company’s third quarter trading update. For the quarter Aroa reported maintenance of revenue within the guidance range for FY23, and normalised EBITDA is expected to breakeven for FY23. Aroa also announced it has enrolled 138 out of 300 patients for its Myriad Registry. Bell Potter sees key catalysts from the report and Myriad Registry update are expected in the coming months and have increased the price target on Aroa as a result.Trading Central has identified a bullish signal on Endeavour Group (ASX:EDV) following the formation of a pattern over a period of 35-days which is roughly the same amount of time the share price may rise from the close of $6.63 to the range of $6.99 to $7.07 according to standard principles of technical analysis.

The local market recovered from the red start to the week in the early hours of trade on Tuesday before falling in afternoon trade to close 0.07% lower as investor optimism was initially boosted by weaker-than-expected retail sales before confidence was dampened by the fact that the lower retail sales will likely have low impact on the upcoming RBA interest rate decision next week. Consumer staples stocks led the market gains today while information tech stocks were sold off amid investor fears of prolonged interest rate hikes to come.Retail sales for the month of December tumbled 3.9% to $34.47bn despite traditionally being the busiest month of the year for retailers. Department stores were the worst hit with a decline of 14.3%, while clothing, footwear and personal accessory retailing fell 13.1%. The decline in retail sales caused a sell-off in retail stocks like Myer Holdings (ASX:MYR), City Chic Collective (ASX:CCX) and Lovisa (ASX:LOV) today, however has investors now hoping the RBA will ease its rate hike stance at the next meeting next Tuesday.Software defined networking company Megaport (ASX:MP1) tanked over 24% on Tuesday after releasing a quarterly update including cash from operations was $0.2m, down from Q1 with lower receipts from customers, total net cash flow of minus $11.9m which is a further dive from the minus $9.6m in the prior corresponding quarter, and the company burnt almost $50m in cash from the same period a year earlier to close the quarter with $57.5m in cash.Infant formula producer Bubs Australia (ASX:BUB) crashed more than 9% yesterday after also releasing a Q2 trading update including group gross revenue down 28% on the PCP to $14.3m driven by gross revenue from the Chinese market down 66% for the quarter amid prolonged lockdowns in the region. International gross revenue for the quarter was strong, boosted by US shipments and the company recently making progress on its journey to gain permanent US regulatory approval.The winning stocks from today’s session were led by Woolworths (ASX:WOW) jumping 3.77%, while Corporate Travel Management (ASX:CTD) added 2.7% and EVT (ASX:EVT) rose 2.55%. And on the losing end, Megaport (ASX:MP1) took the biggest hit today closing down almost 25%, Sayona Mining (ASX:SYA) fell just under 12% and Allkem (ASX:AKE) closed the day down 7.5%.The most traded stocks by Bell Direct clients today were Winsome Resources (ASX:WR1), Whitehaven Coal (ASX:WHC) and Mineral Resources (ASX:MIN).On the commodities front today, oil is down 0.32% at US$77.65/barrel amid rate hike decisions by central banks this week as well as Russian oil exports remaining strong. Gold is down 0.15% today at US$1919/ounce and iron ore is up 4.42% at US$130/tonne.Further economic data released today included Chinese Manufacturing PMI for January coming in at 50.1 points which was above expectations and growth from December, indicating the Chinese economy is recovering faster than anticipated after the scrapping of the harsh COVID-19 lockdowns.The Aussie dollar is buying US$0.70, 91.63 Japanese Yen, 57.31 British Pence, and NZ$1.09.

Ahead of the Federal Reserve’s rate decision, US equities closed in the red overnight, pausing the rally we’ve seen in Wall St. Investors are always preparing for the busiest week of the US earnings season. The Dow Jones dropped 0.77%, the Nasdaq down 1.96% and the S&P500 down 1.3%. Communications services and information technology were among the biggest laggards in the S&P500, while mega-cap tech stocks such as Meta and Alphabet are down more than 2%. Over in Europe, Germany’s DAX, France’s CAC and the STOXX 600 all closed in the red, while the FTSE gained 0.25%. What to watch today:Ahead of the local trading day, The market is set to open slightly lower this morning, with the SPI futures suggesting a fall of 0.07%. In commodities, the price of oil has dropped 2.25% amid robust Russian exports and persistent fears of the global economic slowdown. Gold is trading just 0.2% lower, while iron ore is flat. There are a few companies set to release their quarterly reports today, including Beach Energy (ASX:BPT), Gold Road Resources (ASX:GOR), Megaport (ASX:MP1), Nickel Industries (ASX:NIC), PointsBet Holdings (ASX:PBH) and Syrah Resources (ASX:SYR). Trading Ideas:Bell Potter maintain a BUY rating on Alkane Resources (ASX:ALK), an exploration, mining and investment company. The company is an established gold producer and maintains a multicommodity exploration portfolio. Trading Central has identified a bullish signal in Boss Energy (ASX:BOE), indicating that the stock price may rise from the close of $2.63 to the range of $2.82 to $2.88 over 36 days, according to the standard principles of technical analysis. 

The ASX started the week in negative territory, closing the day down 0.16% as insurance companies weighed on the key index today. Insurance Australia Group (ASX:IAG) and Suncorp (ASX:SUN) each fell over 3% due to catastrophic flooding in New Zealand increasing investor fears of high insurance claim numbers to come for providers.Technology stocks surged ahead more than 2% today amid the ongoing rally for growth stocks in the US and locally as investors regain appetite for higher risk growth stocks amid renewed hopes for a slowdown in aggressive rate hike action by the Fed and RBA.OZ Minerals (ASX:OZL) shares bounced today as investors digested the mining giant’s trading update including the warning that the cost of producing South Australian copper could incur higher electricity costs moving forward. During the fourth quarter though, the company reported its highest ever group quarterly copper production on record and met guidance for FY22. The report comes at the same time the company is recommending its shareholders accept BHP’s $9.6bn takeover offer when they vote on the bid in early April.Pro Medicus (ASX:PME) shares rose more than 1.3% today after the leading health imaging provider announced it has signed an 8-year contact with US-based Samaritan Health Services worth $12m for Pro Medicus’ US-based subsidiary, Visage Imaging to replace legacy PACS throughout the Samaritan Health Services network.The winning stocks today were led by Core Lithium (ASX:CXO) rallying 8.85% after the company released quarterly results including additional night shift by the company’s contractor Primero Group to ensure construction of the Dense Media Separation plant remains on schedule for production of first spodumene concentrate in the first half of 2023. Novonix (ASX:NVX) added 7.5% today and Lynas Rare Earths (ASX:LYC) rallied just under 7% today. And on the losing end Champion Iron (ASX:CIA) fell 7.1%, ResMed (ASX:RMD) lost 6.81% and Insurance Australia Group (ASX:IAG) ended the day down 3.74%.The most traded stocks by Bell Direct clients today were Core Lithium (ASX:CXO), Westpac Banking Corporation (ASX:WBC) and ResMed (ASX:RMD).On the commodities front this afternoon, oil is trading 0.4% lower at US$79.38/barrel, gold is up 0.26% at US$1932/ounce and iron ore is flat at US$124.50/tonne.The Aussie dollar is buying US$0.71, 91.84 Japanese Yen, 57 British Pence and NZ$1.09.

The local market ended the week 0.8% higher after gaining 0.34% on Friday, buoyed by a rally for consumer staples and information technology stocks. Energy stocks were sharply sold off on Friday, with the sector closing down 1.84% at the end of the session amid growing uncertainty from global recession fears and geopolitical tensions.The winning stocks from Friday’s session were led by Megaport (ASX:MP1) jumping 7.22%, while Liontown Resources (ASX:LTR) added 5.2% and Karoon Energy (ASX:KAR) rose 4.3%. On the losing end, New Hope Corporation (ASX:NHC) tumbled over 9%, Whitehaven Coal (ASX:WHC) lost 6.64% and Regis Resources (ASX:RRL) fell over 4.8%.The most traded stocks by Bell Direct clients on Friday were Pilbara Minerals (ASX:PLS), Core Lithium (ASX:CXO) and Bank of Queensland (ASX:BOQ).Over in the US on Friday, stocks rallied to end the week higher boosted by a growth-sectors like technology as investor fears of the Fed continuing its aggressive rate hike stance, begin to ease on the back of favourable economic data including personal spending in the US falling by 0.2% for the second consecutive month in December.What to watch today:The week ahead is a big week on the reporting season front for big tech companies like Meta, Alphabet and Apple. Following a turbulent year for beaten down technology stocks last year, investors are hoping for growth outlook this reporting season from the big tech giants, especially in the wake of mass lay-offs from the likes of Google in recent weeks.The Nasdaq added almost 1% on Friday while the Dow Jones rose 0.08% and the S&P500 jumped 0.25%.In Europe, markets closed marginally higher on Friday after US economic data came in stronger than expected on Thursday with the US economy expanding by 2.9% YoY during the fourth quarter, beating expectations and maintaining recession fears. Germany’s DAX rose 0.11%, the French CAC added 0.02% and the FTSE100 in the UK rose just 0.05%.Ahead of the local trading session, the SPI futures are anticipating the local market to open 0.16% higher to start the new trading week.On the economic data front today, there is no local economic data out today, however investors will be awaiting the release of preliminary retail sales data for December in Australia which is out tomorrow. Taking a look at commodities, oil is trading down 1.64% at US$79.68/barrel, gold is down 0.05% at US$1927.97/ounce and iron ore is trading flat at US$124.50/tonne.The Aussie dollar is buying, 71 US cents, 92.12 Japanese Yen, 57.76 British Pence and 1 New Zealand dollar and 10 cents.Trading Ideas:Trading Central has identified a bullish signal on Lake Resources (ASX:LKE) following the formation of a pattern over a period of 21-days which is roughly the same amount of time the share price may rise from the close of $0.82 to the range of $0.98 to $1.02 according to standard principles of technical analysis.Trading Central has also identified a bearish signal on Nufarm (ASX:NUF) following the formation of a pattern over a period of 7-days which is roughly the same amount of time the share price may fall from the close of $5.93 to the range of $5.58 to $5.64 according to standard principles of technical analysis.

Australia’s inflation rate data for the December quarter released today showed the country’s inflation rose to 7.8% for the twelve months to December 2022, or 1.9% for the quarter, which exceeded economists’ expectations, and adding to investor fears of further interest rate hikes to tackle the stubbornly high inflation. Travel and electricity contributed the largest price rises over the December quarter of 2023, while travel and building new homes contributed the largest price hikes over the 12-months.Following the release of the data, the ASX sharply declined before steadily climbing in afternoon trade to close the day down 0.29% as a sell-off in energy stocks and info tech stocks weighed on the key index.Company trading updates continue being released and included in today’s announcements were updates from Mineral Resources (ASX:MIN), St Barbara (ASX:SBM) and Best & Less (ASX:BST).Mineral Resources (ASX:MIN) shares fell more than 2% today on the release of Q2 results including delays to the expansion of production capacity at the company’s Mt Marion lithium project due to delayed supply of processing equipment and labour shortages, which has caused FY23 shipment guidance to be reduced, and Free on Board (FOB) costs to be increased. Iron ore shipments for the quarter were also down 9% QoQ, while spodumene concentrate shipped in the quarter rose 18% and a total of 7418 tonnes of lithium hydroxide and lithium carbonate was converted, with 6612 tonnes sold during the quarter, up 75% QoQ.Investors fled St Barbara (ASX:SBM) shares today, causing the gold miner’s share price to fall over 16% on the release of a Q2 trading update including gold production of 60,976 ounces at an All-in-sustaining-cost of $2666/ounce which implies lower production and higher costs quarter on quarter.Best & Less (ASX:BST) shares were also caught up in the trading update related sell-off today after the value retailer released an update for the 26-weeks ended January 1, 2023, including total revenue up 13% on the PCP, however like-for-like sales were down 4.9%, online sales were down 29.8% and NPAT down 31.8% on the prior first half to $13.7m.The winning stocks from today’s session were News Corp (ASX:NWS) rallying 6.25%, Monadelphous (ASX:MND) adding 5.38% and IPH (ASX:IPH) jumping over 4%. And on the losing end West African Resources (ASX:WAF) took the biggest hit, falling almost 7.5%, while Evolution Mining (ASX:EVN) losing 5.9% and Ramelius Resources (ASX:RMS) ending the day down almost 5%.The most traded stocks by Bell Direct clients were Core Lithium (ASX:CXO), Sierra Rutile (ASX:SRX), and Vanguard Australian Shares Index ETF (ASX:VAS).Taking a look at commodities this afternoon, oil has steadied today as investors weigh demand recovery hopes from the world’s top crude importer China, against fears of a global economic slowdown. Oil is trading at US$80.33/barrel this afternoon. Gold is down 0.31% at US$1931.56/ounce and iron ore is flat at US$124.50/tonne.The Aussie dollar is buying US$0.71, 92.61 Japanese Yen, 57.12 British Pence, NZ$1.09.There will be no weekly wrap this week due to the January public holiday. We will return to normal scheduling from Monday 30th January.

The US markets turned from negative to positive in afternoon trade before closing mixed as investors digested an array of economic data released. US flash PMI data from US business activity across manufacturing and services remained below par, indicating the impact of tightening financial conditions on growth and adding to hopes that the Fed is on track to ease its aggressive rate hike stance soon. The Dow Jones closed 0.4% higher, the S&P500 closed flat and the Nasdaq fell just 0.1%.Retail company Bed Bath and Beyond jumped over 13% on Tuesday as investors continue piling into the heavily shorted company despite the company warning of a potential bankruptcy.General Electric rallied over 1% after posting quarterly results that topped expectations amid the company working through a multi-year program to cut debt and simplify its operations.Over in Europe, markets closed mixed despite PMI data in the region showing services and manufacturing sectors in the eurozone returned to modest growth in December, boosting hopes that the 20-member currency bloc may avoid recession. The stronger-than-expected PMI data reinforced expectations that the European Central Bank will maintain its aggressive stance against inflation at the upcoming meeting on the 2nd February. The PMI data also boosted business confidence which rose the most since the aftermath of the COVID-19 outbreak despite high inflation and rising borrowing costs. The STOXX600 fell 0.2% driven by losses in healthcare, oil and gas stocks, while Germany’s DAX fell 0.07%, the French CAC rallied 0.26% and the FTSE100 in the UK fell 0.35%.Swiss watchmaker Swatch Group shares rose more than 5% on Tuesday after the company reported a 2.5% increase in 2022 sales and said it was positive about recovery especially in the Chinese market.On the commodities front, oil is trading 1.53% lower at US$80.35/barrel, gold is up 0.15% at US$1934/ounce, and iron ore is flat at US$124.5/tonne.What to watch today:Ahead of the local trading session here in Australia, the SPI futures are anticipating the ASX to open the midweek session 0.22% lower despite the afternoon rally on Wall St.The Aussie dollar is buying 70 US cents, 91.57 Japanese Yen, 56.71 British pence and 1 New Zealand Dollar and 8 cents.On the economic calendar today, the highly anticipated inflation rate data for Australia in the fourth quarter will be released at 11:30am AEDT with the market expecting a rise to 7.6% Year on Year from 7.3% in Q3.Trading Ideas:Trading Central has identified a bullish signal on Galan Lithium (ASX:GLN) following the formation of a pattern over a period of 33-days which is roughly the same amount of time the share price may rise from the close of $1.23 to the range of $1.47 to $1.53 according to standard principles of technical analysis.Trading Central has also identified a bullish signal on Breville Group (ASX:BRG) following the formation of a pattern over a period of 112-days which is roughly the same amount of time the share price may rise form the close of $22.39 to the range of $25.10 to $26 according to standard principles of technical analysis.

The ASX extended its green run into Tuesday, adding 0.44% at the closing bell driven by a surge in real estate and technology stocks. Lithium stocks took flight today after UBS raised its rating on a number of key players including upgrading Pilbara Minerals (ASX:PLS) to Neutral, upgrading Mineral Resources (ASX:MIN) to Buy and upgrading lithium price outlook amid China’s reopening.Cooper Energy (ASX:COE) shares came under pressure today after the oil and gas company released a Q2 update including revenues down 17% due to lower production especially at its Orbost gas processing plant and lower average gas prices.Zip shares plunged more than 9% today after the buy now, pay later company released a Q2. Despite reporting a record quarter with record quarterly transaction volume up 22% to $2.7bn, record group quarterly revenue of $188m, record transaction numbers up 15% and cash transaction margin lifting 2.6%. For the first time, the company’s US operations delivered positive cash EBTDA in November and December. The company may have had a record quarter, but it still continues to burn through cash with available cash and liquidity falling almost 50% to $78.7m from the prior quarter.Retail giant Myer (ASX:MYR) rallied more than 4% today after also releasing a trading update including sales growing 24.8% in the five months ended December 31, which is the best sales on record for the first five months, according to CEO John King.The winning stocks from today’s session were Breville Group (ASX:BRG) adding over 7.5%, Block Inc (ASX:SQ2) rallying 5.7% and Mineral Resources (ASX:MIN) lifting 5.3%. And on the losing end Telix Pharmaceuticals (ASX:TLX) fell 3.45%, Imugene (ASX:IMU) lost 3.23% and Cochlear (ASX:COH) fell 2.53%.The most traded stocks by Bell Direct clients today were BHP Group (ASX:BHP), Mineral Resources (ASX:MIN) and IGO (ASX:IGO).On the economic data front today, NAB Business Confidence data for December was released today and came in at -1 point for the holiday month, which was the third consecutive decline but moderately higher than the 4-point drop in November, as pricing pressure began to ease hinting toward a likely peak in inflation.Taking a look at commodities, oil is trading 0.25% higher at US$81.81/barrel, gold is slightly higher at US$1932/ounce, and iron ore is flat at US$124.50/tonne.The Aussie dollar is buying US$0.70 US cents, 91.51 Japanese Yen, 56.81 British pence and NZ$1.08.

The US Market rallied to start the week, led by the tech-heavy Nasdaq jumping more than 2% as investors weigh the Fed’s rate path moving forward in favour of a slowdown in rate hikes to come. Favourable economic data released last week showed a decline in wholesale and retail sales in a sign consumer spending is also starting to cool. The Dow Jones added 0.76% to start the week and the S&P500 rallied 1.19%. Semiconductor shares, as well as Apple and Tesla shares all climbed on Monday amid hopes that the reopening of China would stimulate business for these tech companies.In Europe, markets started the week on a positive note as investors globally increasingly believe the Federal Reserve is ready to slow its rate hike pace amid signs of cooling growth in the US economy. Company earnings reports out in Europe also made waves yesterday with German fragrance and flavouring producer Symrise tumbling 7% after missing full year earnings expectations, while French liquor company Remy Cointreau shares rose 3% after Citigroup raised its rating from neutral to buy and raised its price target on the company.Germany’s DAX closed almost half a percent higher on Monday, while the French CAC added 0.52% and in the UK, the FTSE100 rose 0.18%.What to watch today:Ahead of the local trading session, the SPI futures are expecting the ASX to open 0.31% higher on the back of a strong session on Wall St overnight.On the commodities front, oil is trading just 0.05% lower at US$81.59/barrel, gold is up 0.12% at US$1928.88/ounce, and iron ore is flat at US$124.50/tonne.The Aussie dollar is buying US$0.70 US cents, 91.81 Japanese yen, 56.52 British pence, and NZ$1.08.On the economic calendar today, NAB business confidence data for December is released with consensus expecting a rise of 3 points to -1 points for the month, after a fall of 4 points in November.Trading Ideas:Bell Potter has downgraded its price target on Allkem (ASX:AKE) from $19.45 to $19.36 but maintains a buy rating on the lithium company following the release of Q2 results. Bell Potter sees despite a record quarter at the company’s flagship Olaroz operations, the Mt Cattlin project December quarter production of spodumene concentrate fell short of Bell Potter expectations and costs exceeded expectations. Bell Potter sees Allkem is through the worst at Mt Cattlin but expects an ambitious recovery in the second half of the financial year.Trading Central has identified a bullish signal on Ardent Leisure Group (ASX:ALG) following the formation of a pattern over a period of 61-days which is roughly the same amount of time the share price may rise from the close of $0.61 to the range of $0.74 to $0.78 according to standard principles of technical analysis.

The ASX seesawed throughout the first trading session of the week before closing just 0.07% higher as strong gains in the tech and energy sectors offset losses in the utilities sector.Pilbara Minerals (ASX:PLS) dominated the market gains again after releasing a production update last week including production and revenue coming in ahead of analysts’ expectations, which also prompted Morgans to reiterate their add rating on PLS with an improved price target of $5.40, announced today.Australian based, international oil and gas exploration and production company Karoon Energy also soared over 7% today after announcing an updated assessment of reserves and resources at its 100% owned Santos Basin concession, BM-S-40 in Brazil, where the revised assessment has found better-than-expected performance at the existing wells. Proved and Probable reserves also increased 23% compared to 30 June 2022.Food price inflation at Australia’s two largest supermarkets rose to an average of 9.2% across the December quarter, from an average of 8.2% in the September quarter according to UBS. The fresh food category had the steepest food inflation, led by the dairy and meat sector.The winning stocks from today’s session were led by Karoon Energy (ASX:KAR) rallying over 7.41%, Liontown Resources (ASX:LTR) recovering from last week’s sell-off to climb 6.91% and Pilbara Minerals (ASX:PLS) lifted 6.15%.And on the losing end, Fisher and Paykel Healthcare (ASX:FPH) fell 2.84%, Adbri (ASX:ABC) lost 2.72% and Chalice Mining (ASX:CHN) shed 2.52% to start the week.The most traded stocks by Bell Direct clients were Woodside Energy (ASX:WDS), Core Lithium (ASX:CXO) and Allkem (ASX:AKE).On the economic calendar front today, the Bank of Japan’s meeting minutes were released giving insight into the policy meeting that resulted in the surprise no change to the country’s easy monetary policy.On the commodities front today, oil has dipped 0.4% to US$81.32/barrel due to the Lunar New Year holiday in Asia but outlook is still favourable for strong demand in 2023 as China, the world’s largest importer of oil, reopens. Coal is down 3.45% at US$350.95/ton, gold is up slightly at US$1927/ounce, and iron ore is flat at US$124.50/tonne.The Aussie dollar is buying 70 US cents, 90.57 Japanese Yen, 56 British Pence, and 1 New Zealand dollar and 8 cents.

The local market ended last week on a 0.23% gain at the closing bell of Friday’s session, driven by a surge in energy and materials stocks on the back of rising commodity prices. Communication services and consumer discretionary stocks came under pressure to close in the red on the last trading session of the week.Quarterly reports and company trading updates continued dominating market movements last week both locally and overseas and are expected to continue doing so for at least the next few weeks as investors respond to company performance amid challenging market conditions especially in this rising interest rate environment.The winning stocks from Friday’s session were Pilbara Minerals rising 13% on the back of a strong trading update including a 10% increase in delivered spodumene concentrate on the prior quarter. Whitehaven Coal rallied over 6% on Friday and Fisher and Paykel Healthcare added 4.87% to end the week.On the losing end, Liontown Resources tumbled over 8%, while Nanosonics fell 6.64% and Pinnacle Investment Management lost 3.76%.The most traded stocks by Bell Direct clients on Friday were Whitehaven Coal, Rio Tinto and Terracom.Over in the US on Friday, tech shares led the broad market rally as investors responded to some positive corporate news including Google’s parent company Alphabet cutting 12,000 staff to cut costs as growth in the business slows, which prompted a 5% surge in Alphabet’s share price. Netflix also surged on better-than-expect subscriber data announced in the company’s latest results update. The Nasdaq jumped 2.7%, the Dow Jones added 1% and the S&P500 rallied 1.9% on Friday.Investors are keeping a close eye on any news around the Fed’s upcoming interest rate meeting from January 31 to February 1 where it is expected the Fed will ease its current aggressive stance on rate hikes to increase the nations’ cash rate by 25-basis points amid signs the economy is beginning to cool.Markets in Europe rebounded from Thursday’s sell-off driven by weaker-than-expected retail sales out of the US, to close higher on Friday as investors in the region also keep a firm eye on updates out of the Fed ahead of the next policy meeting. Germany’s DAX added 0.76%, the French CAC rallied 0.63% and in the UK, the FTSE100 rose 0.3%.What to watch today:Ahead of the local trading session, the SPI futures is anticipating the ASX to open 0.46% higher, buoyed by the strong session on Wall Street on Friday.On the economic data front today, the Bank of Japan policy meeting minutes will be released, which will give investors an insight into the rate outlook in the region following the shock maintenance of the country’s extremely low interest rate of -0.1% at the last policy meeting.Taking a look at commodities, oil is trading higher at US$81.64/barrel, gold is down almost 1% at US$1913/ounce and iron ore is flat at US$124.50/tonne.The Aussie Dollar is buying US$070, 90.25 Japanese Yen, 56.19 British Pence and NZ$1.08.Trading Ideas:Bell Potter maintain a BUY rating on IVE Group (ASX:IGL), and while there is no change in forecasts, Bell Potter have updated each valuation used in the determination of our price target for market movements and time creep. The price target has increased from $2.60 to $2.75, and at IGL’s current share price of $2.37, this implies 16% share price growth in a year.Trading Central have identified a bullish signal in Pilbara Minerals (ASX:PLS) indicating that the stock price may rise from the close of $4.55 to the range of $4.80 to $4.90 over 26 days according to the standard principles of technical analysis.

US markets fell again on Thursday for a third straight session as investors are increasingly concerned that the Fed will continue raising interest rates despite signs the economy is beginning to cool. The increasing concerns follow new jobless claims in the US hitting the lowest level since June last week in a sign the labour market remains resilient despite the slowing economy. The Dow Jones and S&P500 each fell 0.76%, while the Nasdaq closed the day down 0.96%. US investors continue eyeing off corporate earnings results which today will be released by Netflix after the bell with analysts’ expecting EPS of $0.45/share, a decline of 66.3% from the prior corresponding period, and a modest gain of 1.8% in revenue to US$7.85bn. Shares in the streaming giant fell 3.23% on Thursday ahead of the results being released. JPMorgan Strategist Marko Kolanovic said a recession hasn’t been priced into equities just yet, meaning stocks could have further downside from their current positions. He said ‘US industrials and non-tech large caps (Dow Jones) as well as European stocks are basically flat over the past year, and close to previous highs’.Over in Europe, markets closed lower on Thursday as investor fears of a global recession continue to weigh on sentiment, especially on the outlook front which is an item high up on the agenda at this week’s World Economic Forum in Davos.The STOXX600 closed down 1.6%, Germany’s DAX fell 1.72%, the French CAC lost 1.86% and in the UK, the FTSE100 closed the day down 1.07%.What to watch today:Ahead of the local trading session here in Australia, the SPI futures are anticipating the local market to open 0.01% lower following the turbulent session on Wall St overnight. On the commodities front, oil is trading 1.21% higher at US$80.44/barrel, gold is up 1.60% at US$1934/ounce, and iron ore is trading more than 2% higher at US$123/tonne.In economic data, Japan’s inflation rate data for December will be released at 10:30am AEDT with consensus expecting inflation to rise 0.2% to 4% for the month.The Aussie dollar is buying US$0.69, 88.82 Japanese yen, 55.73 British pence and NZ$1.08.Trading Ideas:Trading Central has identified a bullish signal on Bubs Australia (ASX:BUB) following the formation of a pattern over a period of 39-days which is roughly the same amount of time the share price may rise from the close of $0.34 to the range of $0.38-$0.40 according to standard principles of technical analysis.Trading Central has identified a bullish signal on BCI Minerals (ASX:BCI) following the formation of a pattern over a period of 143 days which is roughly the same amount of time the share price may rise from the close of $0.29 to the range of $0.33-$0.35 according to standard principles of technical analysis.

The local market took no lead from Wall St overnight, closing Thursday’s session 0.57% higher on the release of softer than expected jobs data out for December. Materials stocks led the gains today, as investors piled back into the sector following a few sessions of selling out earlier in the week, while tech stocks were sold off today.In economic data out today, Australia’s jobs data for December was revealed and was vastly different to the figures economists were expecting. For the month, Australia’s economy lost 14,644 jobs and the unemployment rate rose to 3.5%, compared to the expected plateau of 3.4% jobless rate and the adding of 22,500 jobs. The softer-than-expected jobs data fuelled the rally locally today as interest rate hike fears cooled and economies begin showing signs of slowing down globally.Nanosonics (ASX:NAN) soared 8% today after releasing a first half trading update including total revenue increasing 35% YoY to $81.6m, gross profit up 39% to $64.4m and global installed base rose to 31,120 units. The company is starting to see benefits of its recent sales model switch in the US to an in-house model from a distributor model. Netwealth (ASX:NWL) shares on the other hand were sharply sold off today after the company released a quarterly update including a significant slowdown in net inflows, down 42% on the PCP to $$2.087bn.The winning stocks for today were led by Nanosonics (ASX:NAN) rallying over 8%, Viva Energy (ASX:VEA) adding 4.74% and Pexa Group (ASX:PXA) lifting 3.77%. And on the losing end of the market, Netwealth Group (ASX:NWL) fell 9.19%, Novonix (ASX:NVX) lost 7.27% and Alumina (ASX:AWC) shed 6.76%.The most traded stocks by Bell Direct clients today were Rio Tinto (ASX:RIO), BHP Group (ASX:BHP) and Allkem (ASX:AKE).Oil has taken a hit today on increased recession fears following disappointing US retail data for December showing US retail sales declined more than expected and producer prices fell the most since April 2020. As a result of the renewed recession fears, oil traded at US$79/barrel today. Iron ore is trading 2.07% higher at US$123/tonne and gold has also rebounded to trade 0.35% higher at US$1910.34/ounce.The Aussie dollar is buying US$0.69, 88.38 Japanese Yen, 56.51 British Pence and NZ$1.08.

Disappointing retail sales data released in the US overnight saw Wall Street close in the red. The Dow Jones tumbled 1.8%, as investors took their profits from the strong start to the year. The S&P500 lost 1.6% and the Nasdaq down 1.2% European markets were mixed as uncertainty persisted on the economic outlook, which is a key topic of debate on the agenda at the World Economic Forum in Davos this week. The STOXX 600 gained 0.2% and France’s CAC up 1%, while Germany’s DAX closed flat and the FTSE100 closed 0.3% lower. What to watch today:The SPI futures are suggesting the Australian market will drop 0.42% at the open this morning. BHP (ASX:BHP)’s share price will be on watch today, with the mining giant set to releasee its second quarter production update. In commodities, oil is more than 1% in the red, at levels last seen in early December. Gold is trading higher at around US$1,903 per ounce, while iron ore is down to US$120.50 per tonne, dropping from the seven-month high of US$127 touched in the previous session. In economic data, at 11:30am AEDT the unemployment rate for December will be announced, expected to remain unchanged at 3.4%. Trading Ideas:Bell Potter maintains a BUY rating on Allkem (ASX:AKE) and have lowered their price target from $19.45 to $19.36. At AKE’s current share price of $12.25, this implies 58% share price growth in a year. Trading Central have identified a bullish signal in Ampol (ASX:ALD), indicating that the stock price may rise from the close of $29.32 to the range $31.30 - $31.80, over 61 days according to the standard principles of technical analysis.  

The ASX had another lacklustre session today closing the day up just 0.1% as investors continued to sell off materials and utilities stocks, while piling into technology and healthcare stocks.Allkem (ASX:AKE) shares dipped today after the lithium producer released a December quarter trading updating including record sales revenue of US$151m from the company’s flagship Olaroz operation despite softer sales units, and revenue of US$83 million from the Mt Cattlin operation. The company’s Naraha project also successfully achieved first production of lithium hydroxide and the product quality exceeded expectations. AKE shares were caught up in the lithium stock sell-off in recent days though as demand outlook for EVs has been dampened by Tesla’s price reductions and lithium price outlook reports. Ampol (ASX:ALD) shares rallied today after the petroleum company released fourth quarter results including the Lytton Refiner Margin remaining above historical levels averaging US$11.75 per barrel, while refinery production rose to 1580 ML, from 1546 ML in the third quarter including planned maintenance activities. Qantas (ASX:QAN) shares dipped in afternoon trade following the issue of a mayday call on QF144 from Auckland to Sydney just after 2pm today. The plane landed safely just after 3pm despite issuing the mayday call amid engine issues. Qantas shares rebounded in the last hour of trade after the plane landed safely to close the day up 0.76%.The winning stocks from today’s session were, led by Sayona Mining (ASX:SYA) jumping almost 9% despite no price sensitive news out of the company today, while Telix Pharmaceuticals (ASX:TLX) rose 8.6% and Block Inc (ASX:SQ2) jumped 4.57% today. The stocks that weighed on the market today included Hub24 (ASX:HUB) falling 4.8% a day after the company provided quarterly results, Gold Road Resources (ASX:GOR) losing 4.56% and Capricorn Metals (ASX:CMM) shedding 4.53%.The most traded stocks by Bell Direct clients today were St Barbara (ASX:SBM), Macquarie Group (ASX:MQG) and Telstra (ASX:TLS).On the economic calendar today, the Bank of Japan maintained the country’s short-term interest rate at -0.1% after 8-years of no change, despite recent signs indicating an increase in the rate may be imminent.Taking a look at commodities, oil is trading almost 1% higher at US$80.79/barrel, gold is down almost half a percent at US$1899/ounce and iron ore is trading -0.82% lower at US$120.50/tonne.The Aussie dollar is buying US$0.70, 91.86 Japanese Yen – boosted higher by the Bank of Japan not raising interest rates today, 56.9 British Pence and NZ$1.08.

Wall Street closed mixed on Tuesday which was the first trading session of the week in the US as investors digested contrasting earnings results out of investment banks Goldman Sachs and Morgan Stanley, as well as GDP data out of China indicating a rise of just 3% in 2022, which fell short of Beijing’s target of 5.5%. The Dow Jones closed 1.14% lower, the S&P500 fell 0.2% but the tech-heavy Nasdaq closed the day up 0.14% Goldman Sachs fell 6% after releasing fourth quarter and full year results that fell short of analysts’ expectations including EPS of US$3.32 per share compared with the expected US$5.48/share, revenue of US$10.59 billion compared to the US$10.83 billion estimate, and profits fell by two-thirds in the final three months of last year. Meanwhile, Morgan Stanley shares rose 6% after the investment bank also released fourth quarter and full year results including net income of US$2.11 billion or US$1.26/share which topped analysts’ estimates of EPS at US$1.19/share. The bank also announced cost cutting measures in December last year through reducing its staff by 2% and boosted its safety net by setting aside US$85 million for credit losses compared with just US$5 million in the same quarter a year earlier amid rising interest rates in the US.Over in Europe markets were relatively unchanged on Tuesday as investor concerns are focused on the World Economic Forum in Davos this week. The STOXX600 closed 0.3% higher, Germany’s DAX rose 0.35%, the French CAC added 0.48% and, in the UK, the FTSE100 fell 0.12%.On the commodities front, crude oil is up 1.27% at US$79.71/barrel, gold is down 0.63% at US$1905.86/ounce, and iron ore is down 4.33% at US$121.50/tonne.What to watch today:Ahead of the local trading session here in Australia the SPI futures are anticipating the ASX to open the midweek session 0.29% higher.Important economic data out today includes the highly anticipated Bank of Japan interest rate decision, with the market expecting the maintenance of the economy’s -0.1% interest rate however recent indications may spell a surprise increase for the first time in 8-years.The Aussie dollar is buying, US$0.70, 89.51 Japanese Yen, 57.14 British Pence, and NZ$1.09.Trading Ideas:Bell Potter has upgraded its price target on DroneShield (ASX:DRO) to $0.34/share following the aerial tech company announcing another new contract to kick off the new year. The $11m contract is a purchase order for several different types of the company’s counter-drone/C-UAS equipment. This is the second $10m+ contract announced by the company in less than 3-weeks, after the initial record contract of the same size in December’22, which establishes solid revenue foundation for CY23.Trading Central has identified a bullish signal on Goodman Group (ASX:GMG) following the formation of a pattern over a period of 172-days which is roughly the same amount of time the share price may rise from the close of $19.05 to the range of $23.75-$24.75 according to standard principles of technical analysis. 

The local market’s green run came to an end today in a muted session as the key index closed just 0.03% lower. A sharp sell-off in materials and utilities stocks offset strong gains among consumer staples and healthcare stocks today. As recession fears increasingly dominate market sentiment, sectors like consumer staples and health care are remaining resilient as these companies traditionally remain strong during a recessionary environment.Tech retail specialist JB Hi-Fi (ASX:JBH) released Q2 sales results and preliminary half year 2023 results including record sales of $5.28 billion and record earnings of $479.2 million for HY23. The strong performance follows continued elevated consumer demand and operating conditions starting to normalise following two-years of COVID related disruptions. Shares in JB Hi-Fi rallied in morning trade before retreating amid the broader market sell-off today.Hub24 (ASX:HUB) shares were sold off on Tuesday after the wealth management technology firm released a Q2 update including net inflows for the quarter broadly flat on Q1 but dropping 23.6% to $5.8 billion from record inflows achieved in Q2 of FY22, and down 13.6% for the first half of FY23.The winning stocks from today’s session were Novonix (ASX:NVX) adding 5.5%, Metcash (ASX:MTS) jumping 2.74% and Johns Lyng Group (ASX:JLG) rallying 2.71%. And on the losing end of the market Imugene (ASX:IMU) tumbling 5.88%, while Capricorn Metals (ASX:CMM) and Regis Resources (ASX:RRL) each fell 5.6 and 4.8% respectively.The most traded stocks by Bell Direct clients today were ANZ (ASX:ANZ), Macquarie Group (ASX:MQG) and Telstra Group (ASX:TLS).On the commodities front, oil is trading lower again around US$79/barrel as recession fears continue dominating global market sentiment, while iron ore is also trading sharply lower by more than 4% at US$121.50/tonne as China attempts to cool demand outlook of the commodity. Gold is also down almost 0.4% today at US$1910.58/ounce and coal is only slightly lower at US$370/tonne. Goldman Sachs researchers have said commodities have the strongest outlook of any asset class in 2023 given the perfect macroeconomic environment with critically low inventories for almost every key raw material against surging demand. The year has started with a pullback in prices due to warm weather shock and rising interest rates, however with China coming back online, the yearly outlook for commodity prices is looking up.Westpac Consumer Confidence data released today showed Aussie confidence rose 5% to 84.3 points for January, which well exceeded market forecasts of a 2.3% decline.The Australian dollar is buying US$0.70, 89.75 Japanese Yen, 57 British Pence, and NZ$1.09.

US markets were closed for the Martin Luther King holiday, but coming up this week in the US are Q4 earnings results, with Netflix and State Street announcing results Thursday and Friday.  European equities mostly ended their start to the week with modest gains. A key focus for European markets this week is the World Economic Focus in Switzerland, where the heads of state, business leaders and academics debate and discuss certain topics. The key themes this week are the war in Ukraine, economic uncertainty and climate change. And we’re seeing defensive sectors under-performing around the world so far in 2023, notably healthcare and utilities. Australian utilities are more than 6% behind. What to watch today:Despite the positive run overnight, the SPI futures are suggesting the Australian market will drop 0.29% at the open this morning. Super Retail (ASX:SUL)’s share price may continue to advance today after yesterday’s rally off the back of a strong update, with Goldman Sachs reiterating a buy rating on the stock with an improved price target of $14.20. Watch HUB24 (ASX:HUB), scheduled for a market update, and Rio Tinto (ASX:RIO) set to announce a quarterly production update. Katana Capital (ASX:KAT) and Tower (ASX:TWR) are set to go ex-dividend today. In commodities, The oil price has dropped, after advancing 8% last week, as China’s reopening from COVID curbs raised hopes for a boost in economic activity, with analysts forecasting that oil demand in China will likely hit a record this year. Gold is currently trading slightly in the red, however is hovering at its strongest levels in nearly nine months. And iron ore has jumped more than 2.4% higher to US$127 per tonne, the highest since mid-June, due to continued optimism about demand prospects in China and weakening supply concerns. In economic data, at 10:30am AEDT Westpac will release its data on consumer confidence. Trading Ideas: Bell Potter maintain a BUY rating on Janus Henderson (ASX:JHG), ahead of the release of the company’s full year results for 2022, which will be out on the 2nd of February. Bell Potter have slightly upgraded their FY22 funds under management forecast to $279 billion from $263.5 billion previously. As a result, EPS is 0.6% higher for FY22, 5.5% higher for FY23 and 5.6% higher for FY24. EBITDA is also 0.6% higher in FY22, and 5.6% and 5.5% higher in FY23 and 24 respectively. Their dividend forecast in Australian dollars has increased, reflecting the currency movements applied to a US dollar dividend. Bell Potter have lowered their price target from $45.37 to $43.81, and at JHG’s current share price of $38.27, this implies 14.5% share price growth in a year. Trading Central have identified a bullish signal in BetMakers Technology Group (ASX:BET) indicating that the stock price may rise from the close of $0.29 to the range of $0.33 to $0.35 over 44 days, according to the standard principles of technical analysis. 

The ASX extended last week’s green run into the new week with the key index closing the first trading session of the week up 0.82%, buoyed by a surge in technology and energy stocks today.Tyro Payments (ASX:TYR) made waves today, jumping more than 8% after the fintech company announced an unaudited first half trading update including group revenue up 45%, payments transaction value up 37% and payments normalised gross profit rose 36%. These results indicate a turn-around in company performance after turbulence faced in 2022. Biotech company PolyNovo (ASX:PNV) also released a first half trading update today including record sales of $27.3 million for the first half of the 2023 financial year, up 67.5% on the prior corresponding period. This record result was driven by record sales in the US of $22.8 million.Reformed commercial airline, Virgin Australia (ASX:VAH) may soon take its competitive edge to the ASX after Bain Capital, the firm which rescued Virgin Australia from voluntary administration back in 2020, said it will soon seek advice on an initial public offering. Investors will also be pleased with the first-half results preview released by Super Retail Group (ASX:SUL) today, the parent company of Supercheap Auto, Rebel Sport, BCF and more, after the company released record first-half sales performance.Sector wise today, tech stocks led the rally, with the sector closing the session up 1.81%, while every other sector also closed Monday’s session in the green.The winning stocks today were led by Super Retail Group (ASX:SUL) jumping 7.68%, Megaport (ASX:MP1) adding 7.46% and Imugene (ASX:IMU) rallying 6.25%. And on the losing end of the market, Core Lithium (ASX:CXO) tumbled 6.17%, Liontown Resources (ASX:LTR) lost 3.85% and Monadelphous Group (ASX:MND) fell 3.76%.The most traded stocks by Bell Direct clients were the BetaShares Australian Strong Bear Hedge Fund (ASX:BBOZ), Westpac Banking Corporation (ASX:WBC) and BHP Group (ASX:BHP).Taking a look at commodities, oil has retreated from last week’s rally, steadying just above US$79/barrel as investors weighed improving demand outlook from China, against the rising prospect of a global recession. Gold continues to rally, trading 0.26% higher at US$1925/ounce while iron ore is trading lower amid China’s latest attempt to dampen positive outlook for demand of the commodity.The Aussie dollar is buying US$0.70, 89.24 Japanese Yen, 57.11 British Pence and NZ$1.09.Australia’s building permits data for November released today showed a decline of 9% for the month which was in-line with market expectations.

Complete the survey here: https://www.belldirect.com.au/smarter/2022-viewer-survey-feedback-page-youtubeWe’re taking a short break over the holiday period and we are very excited to debut our brand new studio in 2023.In 2023, we want to continue to provide you with useful and interesting investment market commentary, to help you stay across the Aussie and global share markets, and to help you build an even better investment portfolio.We’d appreciate if you could please complete a short survey and provide your feedback on our market commentary videos.Thank you in advance for your participation and thank you for being part of our audience in 2022.Your responses will be anonymous and used only to help inform us on the content we should be delivering to you in 2023.

The Aussie share market lost 0.12% this week (Mon-Thu), and in a tough year for investors, the ASX200 is trading 5.71% lower (YTD). All eyes will be on inflation, rates and energy prices in 2023.   In this week's wrap, Grady covers:(0:18) M&As, the big banks & the data breaches in 2022 (1:37) How commodity prices rocked this year (2:07) What's in store for the year ahead(3:47) The best performing stocks in the ASX200(5:32) The most traded stocks & ETFs by Bell Direct clients(6:00) Four economic news items to watch out for

US equities sharply fell overnight. The selling began after the Federal Reserve’s 50 basis point interest rate hike yesterday, taking the main rate 4.25% to 4.5% range. The shift to a lower gear following four consecutive 75 basis point hikes was widely anticipated, and bond yields barely moved in response. Overnight, US retail sales data was released – retail sales declined more than expected in November which heightened concerns around rate hikes, with the data showing that inflation has taken a toll on consumers. The Dow Jones saw its worst day in three months, falling more than 700 points or 2.25%, the S&P500 dropped 2.5% and the Nasdaq dropped 3.2%. European markets also closed in the red after the European Central Bank signalled that “significant” rate increases are still to come. The STOXX 600 down 2.85%, Germany’s DAX and France’s CAC both closed more than 3% lower, and the FTSE 100 down 0.9%. What to watch today:The SPI futures are suggesting the Australian market will fall 1.16% at the open this morning. In economic data, this morning the S&P Global Manufacturing and Services Flash PMI will be released. Remember the Flash PMI is a forward-looking estimate of the final PMI, set to be released next week. In commodities, the price of oil has dropped 1.4%, currently trading just over US$76 per barrel, as Chinese factory data piled onto demand concerns. Gold has dropped 1.7% to US$1,776 an ounce, while iron ore is down 0.5% at US$110. Keep watch of NAB and Link Administration (ASX:LNK) – both companies are set to hold their AGMs today. Trading Ideas: Bell Potter maintain a Speculative Buy rating on Arafura Rare Earths (ASX:ARU) and have increased their valuation from $0.64 to $0.70. At its currently share price of $0.52 this implies 36% share price growth in a year. Trading Central has identified a bullish signal in Qualitas (ASX:QAL) indicating that the stock price may rise from the close of $2.28 to the range of $2.70 to $2.76 over 37 days, according to the standard principles of technical analysis. 

The local market followed in Wall Street’s footsteps, with the key index closing Thursday’s session 0.64% lower as 8 of the 11 sectors closed the day in the red. A sharp sell-off in materials stocks weighed on the market today following strong than expected unemployment data out in Australia and the US Fed’s raising America’s cash rate by 50-basis points. Consumer staples stocks outperformed the market today as investors shifted into sectors that perform well during a high interest rate, recessionary environment.The winning stocks today were led by Blackmores (ASX:BKL) lifting almost 8% despite no price sensitive news out of the company today, while New Hope Corporation (ASX:NHC) added 4.66% and Whitehaven Coal (ASX:WHC) added 3.9% today. And on the losing end of the market today, Pilbara Minerals (ASX:PLS) fell 11.43% after the lithium miner announced results of its 12th spodumene concentrate auction via its digital BMX platform with the company selling a combined total of 10,000dmt at an average price of $7552 per dmt. Investors also sold out of Core Lithium (ASX:CXO) and Liontown Resources (ASX:LTR) today as the price of lithium came under pressure.The most traded stocks by Bell Direct clients today were Arafura Rare Earths (ASX:ARU), New Hope Corporation (ASX:NHC) and Pilbara Minerals (ASX:PLS).On the commodities front, crude oil is down 1.13% at US$76.39 per barrel, uranium is flat at US$48.35 per pound, gold is down almost 1% at US$1,791 per ounce and iron ore is trading 0.45% lower at US$110 per tonne.The Aussie dollar is buying 68 US cents, 92.61 Japanese Yen, 55.22 British Pence, and NZ$1.06.Economic data released today included Australia’s unemployment rate held steady at 3.4% for November which was above forecasts of a decline to 3.3% while the economy added 64,000 jobs for the month, in another sign the tight labour market remains resilient despite the best efforts of the RBA.

US markets turned lower on Wednesday after the Federal Reserve raised the US cash rate by a further 50-basis points to the targeted range between 4.25-4.5%, the highest level in 15-years. The rate hike comes against signs of cooling inflation in the region with CPI for November easing to the lowest level since December last year in data out yesterday. Stocks came under pressure as markets factored in expectations that interest rates in the world’s largest economy would peak at 4.9% in the Spring.The Dow Jones fell 0.18%, the S&P500 lost 0.22% and the Nasdaq fell 0.16%.What to watch today:Over in Europe, markets slipped on Wednesday as investors globally responded to new inflation readings out of the U.S. and looked ahead to the Fed’s cash rate decision. The STOXX600 closed flat, Germany’s DAX lost 0.26%, the French CAC dropped 0.21% and, in the UK, the FTSE100 fell 0.09%. Monetary policy updates from the EU, UK and Swiss central banks will be announced today.On the commodities front crude oil is up 3.05% at US$77.69/barrel, uranium is down 0.72% at U.S$48.35/pound, gold is flat at US$1810/ounce and iron ore is down 2.64% at US$110.50/tonne.The Aussie dollar is buying 69 US cents, 92.83 Japanese yen, 55.45 British pence and 1 New Zealand dollar and 6 cents.Ahead of the local trading session in Australia, the SPI futures are anticipating the ASX to open almost half a percent lower following the global sell-off overnight.Taking a look at economic data out today, Australia’s unemployment rate is out at 11:30am Australian eastern daylight time, with some economists forecasting a drop to 3.3% for November from 3.4% in October.Trading Ideas:Trading Central has identified a bullish signal on Bowen Coking Coal (ASX:BCB) following the formation of a pattern over the period of 36-days which is roughly the same amount of time the share price may rise from the close of $0.29 to the range of $0.33-$0.35 according to standard principles of technical analysis.Trading Central has identified a bearish signal on Autosports Group (ASX:ASG) following the formation of a pattern over a period of 11-days which is roughly the same amount of time the share price may fall from the close of $1.95 to the range of $1.78-$1.82 according to standard principles of technical analysis.

The local market took lead from Wall Street today, following softer-than-expected inflation data out in America, easing investor fears of further aggressive rate hikes to come from the Fed. The ASX closed the midweek session up 0.67% buoyed by a surge in utilities stocks.Gold miner St Barbara (ASX:SBM) soared 20% today, after the company announced the successful completion of the bookbuild for the conditional placement issuing approximately 229.2m new Genesis Minerals (AXS:GMD) shares to raise $275 million to facilitate the merger of St Barbara and Genesis Minerals. Under the planned merger, St Barbara (ASX:SBM) and Genesis (ASX:GMD) will merge their Leonora District operations in WA to form a new gold company, Hoover House. St Barbara’s other assets will be demerged to form a new junior gold company called Phoenician Metals which focuses on the long-term value of a portfolio including the Atlantic and Simberi operations.The winning stocks of the session were led by St Barbara (ASX:SBM) adding almost 14% at the closing bell, Block (ASX:SQ2) rallying 8.15% and Chalise Mining (ASX:CHN) adding 6.41%. And on the losing end, Imugene (ASX:IMU) tanked 5.13%, while Endeavour Group (ASX:EDV) fell 4.33% and Bendigo and Adelaide Bank (ASX:BEN) fell 3.31%.The most traded stocks by Bell Direct clients were Telstra Corporation (ASX:TLS), Arafura Rare Earths (ASX:SRU), Newcrest Mining (ASX:NCM).On the commodities front crude oil is trading 0.2% lower at US$75.22 per barrel, gold is flat at US$1,809 per ounce, and iron ore is down 2.64% at US$110.50 per tonne.Aussie dollar is buying 68 US cents, 92.65 Japanese Yen, 55.49 Japanese Yen and NZ$1.06.

Wall St had a positive session on Tuesday as investors digested softer-than-expected inflation data out of the US for November. Annual inflation data released for November showed the US inflation rate slowed for a fifth straight month to 7.1%, the lowest level since December last year, and below forecasts of 7.3%. For the month, inflation rose just 0.1% where the markets had been expecting a rise of 0.3%. The Dow Jones pared back earlier gains to close the session up 0.1% as investors look ahead to the FOMC meeting and Fed’s rate hike out tomorrow with the expectation of another 50-basis point rate hike. The S&P500 added 0.5% while the tech-heavy Nasdaq rallied 0.65%.What to watch today:Over in Europe it’s been a turbulent start to the week with markets as investors in the region are less optimistic about the outcome of the Fed’s rate hike decision and the rate decision out of the Bank of England, European Central Bank and Swiss National Bank all revealed on Thursday. On Tuesday though, markets rallied after US inflation data came in lower than forecasted.The STOXX600 closed 1.1% higher, Germany’s DAX rose 1.34%, the French CAC added 1.42% and in the UK, the FTSE100 rallied 0.76%.In commodities:On the commodities front, crude oil is trading 3.95% higher at US$76.08/barrel, natural gas is up 6.3%, uranium is flat at US$48.70/pound, gold is up 1.57% at US$1809.18/ounce and iron ore is up 1.8% at US$113.50/tonne.Taking a look at economic data out today, core inflation data is the UK is out later this evening, while MBA mortgage applications in the US is out late tonight. Tomorrow local investors will be closely eyeing off Australia’s unemployment rate data for November with some economists expecting a decline to 3.3% from 3.4% in October.Locally, RBA Governor Philip Lowe is speaking at 9:30am eastern daylight time today at the annual AusPayNet Summit in Sydney.The Aussie dollar is buying 69 US Cents, 92.79 Japanese Yen, 55.1 British Pence, and 1 New Zealand Dollar and 6 cents.Ahead of the local trading session here in Australia, the SPI futures are anticipating the ASX to open 0.19% higher.Trading Ideas:Bell Potter has initiated coverage of XTEK (ASX:XTE) with a buy rating and a price target of $0.95 as the Australian defence manufacturer of advanced ballistics protection equipment and supplier of cutting edge military technologies is leveraged to the current global trend of rearmament, which is likely to be a central market narrative over the next decade. The company also boasts a strong contract order book with the anticipating of first half revenue in FY23 to be ~$47m based on previously announced material contracts, and $35m in contract backlog from the technology division has XTE on track to exceed $82m in revenue in FY23 which would be another record year for the company.Trading Central has identified a bullish signal on DGL Group (ASX:DGL) following the formation of a pattern over a period of 18-days which is roughly the same amount of time the share price may rise from the close of $1.48 to the range of $1.83 - $1.91 according to standard principles of technical analysis.

The local market reversed Monday’s losses to close Tuesday’s session up 0.31% as a rally for technology, industrials and financial stocks boosted the key index into positive territory, while a sell-off in materials stocks pared back strong gains. Tomorrow and Thursday are the sessions investors are most anticipating this week amid the release of US inflation data and the Fed’s latest interest rate hike decision.Star Entertainment shares came under pressure today as ASIC begins civil penalty proceedings in the Federal Court against 11 current and former directors and executives for alleged breaches of their duties.Inoviq (ASX:IIQ) shares jumped 15% today after the cancer diagnostic and treatment development company announced positive results from its Ovarian cancer study confirming the utility of the company’s EXO-NET for EV-biomarker discovery and generation of multivariate index assay had over 90% accuracy for the detection of early-stage ovarian cancer.The winning stocks today were led by Bendigo and Adelaide Bank (ASX:BEN) jumping 6.86% after the company provided a trading update outlining net interest margin improvements to 1.85% post revenue share arrangements YTD, unaudited cash earnings YTD of $245m, up 22% on the PCP and lending balances up 5.2% over the last 12-months. Megaport (ASX:MP1) added almost 6% today and Imugene (ASX:IMU) rallied 5.41% on Tuesday.And on the losing end of the market, Chalice Mining (ASX:CHN) fell 8.06% as investors respond to the delay of the company’s scoping study, while Champion Iron (ASX:CIA) and Fortescue Metals Group (ASX:FMG) each also lost over 4%.The most traded stocks by Bell Direct clients on Tuesday were MSL Solutions (ASX:MSL), Bank of Queensland (ASX:BOQ) and BHP Group (ASX:BHP).On the commodities front, crude oil is up 1.18% at US$74.02/barrel, natural gas is up 1.55%, uranium is flat at US$48.70/pound, gold is flat at US$1782.77/ounce and iron ore is up 1.79% at US$113.50/tonne.The Aussie dollar is buying 67.47 US cents, 92.85 Japanese Yen, 55 British Pence and 1 New Zealand Dollar and 6 cents.Westpac consumer confidence data for December out today showed an increase of 3% from a decline of 6.9% in November as investor optimism is boosted by expectations that the RBA’s interest rate tightening cycle is nearing an end.NAB business confidence on the other hand fell to minus 4 for November from 0 in October amid rising inflation and higher interest rates.

As traders looked ahead to the highly anticipated Federal Reserve meeting and new inflation data, US equities saw a strong session overnight. Stocks jumped back from last week’s steep losses, with a strong rally in the final hour of trade. The Dow Jones added more than 500 pints or 1.5%, the S&P500 up 1.4%, and the Nasdaq up 1.26%. The Fed will begin its two-day meeting tonight and it is widely expected that the Fed will raise rates by half a percentage point when the meeting concludes on Wednesday in the US. However, European markets retreated ahead of the Fed’s meeting. The Stoxx 600 closed lower, with mining stocks falling the most, while only oil and gas stocks made gains. Germany’s DAX, France’s CAC and the FTSE 100 all closed in the red. Also, on Thursday we’ll receive monetary policy decisions from the Bank of England, the European Central Bank and the Swiss National Bank. What to watch today:Following Wall Street’s strong session, the Australian market is set to rise 0.67% at the open this morning, going by the SPI futures. In economic data, today Westpac will release its data on consumer confidence for December at 10:30am and NAB will release its data on business confidence for November at 11:30am AEDT. This data will give us an indication on consumer and business sentiment, considering the impact that inflation and rising interest rates has had on households, finances and the economy. In commodities: The oil price has sharply rebounded, recovering from the daily lows of around US$70, as optimism about China’s reopening and supply disruptions offset some concerns about a global recession-driven demand downturn. Oil is trading at US$73.48 per barrel, so keep your eye on energy producers such as Santos (ASX:STO). The price of gold has fallen, ending a four-day advance as the US dollar gained on stronger-than- expected producer price data in the US. So watch gold mining stocks like Regis Resources (ASX:RRL) and Evolution Mining (ASX:EVN). Iron ore is trading around 1.4% higher at US$111.50 per tonne. The AU$1.00 is buying 67 US cents, 55.39 British Pence, 92.93 Japanese Yen and NZ$1.06. Trading Ideas: Bell Potter maintain a BUY rating on Mincor Resources (ASX:MCR) and have lowered their price target from $1.90 to $1.85. At MCR’s current share price of $1.585 this implies 16.7% share price growth in a year. Trading Central have identified a bullish signal in DGL Group (ASX:DGL) indicating that the stock price may rise from the close of $1.48 to the range of $1.83 to $1.91 over 18 days according to the standard principles of technical analysis. 

The ASX started the week in negative territory, closing Monday’s session down 0.45% as investors sharply sold off gold and metals and mining stocks. Investor sentiment has been extremely volatile over the last few weeks amid China’s easing of some COVID restrictions, surprisingly upbeat economic data out of the US and local economic data released that has moved markets especially on the GDP front.Troubled fintech company Tyro Payments (ASX:TYR) tanked more than 18% today after confirming its separate takeover talks with Potentia Capital and Westpac Banking Corporation have both concluded, as the discussions have not resulted in offers the board feels fairly value Tyro. Origin Energy (ASX:ORG) shares were also sharply sold-off today as investors responded to Prime Minister Anthony Albanese’s plan to place a price cap on domestic coal and gas sales.Gold miners had a tough start to the week as the price of the precious commodity is trading more than half a percent lower around US$1,787 per ounce. Newcrest Mining (ASX:NCM) fell over 3%, Evolution Mining (ASX:EVN) lost 3.8% and Perseus Mining (ASX:PRU) ended the day down more than 4%.The winning stocks today were led by BrainChip Holdings (ASX:BRN) jumping 9.38% despite no price sensitive news out of the AI software and hardware technology company today. Megaport (ASX:MP1) and Woodside Energy (ASX:WDS) each also added over 4% and 3.5% respectively today. And on the losing end, Nanosonics (ASX:NAN) tanked 9.92%, Origin Energy (ASX:ORG) fell 7.82% and Silver Lake Resources (ASX:SLR) lost 7.52%.The most traded stocks by Bell Direct clients today were Warrego Energy (ASX:WGO), Northern Star Resources (ASX:NST), and the BetaShares Australian High Interest Cash ETF (ASX:AAA).On the commodities front, the price of oil has rebounded as the Keystone pipeline, a key pipeline in North America which links fields in Canada to refiners on the US Gulf Coast, remains shut, on top of easing COVID restrictions in China boosting demand outlook for oil. Crude oil is up almost 1% at US$71.75 per barrel, natural gas is up 10.31% at US$6.89 per MMBtu, coal is up 1.77% at US$402.50 per tonne, uranium is up 0.41% at US$48.70 per pound and iron ore is up 1.36% at US$111.50 per tonne.The Aussie dollar has weakened to buy 67.79 US cents, 92.80 Japanese Yen, 55.46 British Pence and NZ$1.06.After the Closing Bell Britain’s trade balance data for October and GDP for October are both released.

The local market took lead from Wall Street on Friday to close the final trading session of the week up 0.52%, led by a strong rally for materials and information technology stocks.The winning stocks on Friday were led by Champion Iron (ASX:CIA) jumping 5.15% as China’s easing of some COVID-19 restrictions fuelled a rally in the price of iron ore, while Sandfire Resources (ASX:SFR) and BrainChip Holdings (ASX:BRN) each added 4.81% and 4.1% respectively. On the losing end of the market, Novonix (ASX:NVX) fell 4.53%, while Capricorn Metals (ASX:CMM) and Pinnacle Investment Management (ASX:PNI) tanked 4.33% and 3.77% respectively on Friday.The most traded stocks by Bell Direct clients on Friday were Fortescue Metals Group (ASX:FMG), BHP Group (ASX:BHP) and Core Lithium (ASX:CXO).Over in the US on Friday, Wall Street reversed again to end the week lower as investors look ahead to key inflation data and the last FOMC meeting which ae both this week. If key CPI data comes out higher-than-expected on Tuesday, the Fed’s may continue the aggressive approach at raising interest rates to tackle the nation’s 40-year high inflation. The Dow Jones fell 0.9%, the S&P500 shed 0.73% and the tech-heavy Nasdaq closed the day down 0.7%.Over in Europe, it was a green end to the week as investor optimism was boosted by reports of China’s reopening and positive economic outlook. Germany’s DAX added 0.74%, the French CAC rose 0.46% and, in the UK, the FTSE100 rose just 0.06%. Investors in the region also await key decisions out of the Bank of England’s next policy meeting.What to watch today:Ahead of the local trading session, the SPI futures is expecting the ASX to open 0.48% lower ahead of the FOMC meeting and key US inflation data out this week.On the commodities front, crude oil is trading 0.62% lower at US$71.02 per barrel, coal is up 1.64% at US$402 per tonne, gold is up 0.44% at US$1,797.04 per ounce and iron ore is up 1.36% at US$111.50 per tonne.The Aussie dollar has strengthened to buy 67.69 US cents, 92.94 Japanese Yen, 55.45 British Pence and NZ$1.06.On the economic data front today, British GDP data for October is out with the market expecting growth to 0.4% from a decline in growth of 0.6% in September.Trading Ideas:Trading Central has identified a bullish signal on Azure Minerals (ASX:AZS) following the formation of a pattern over a period of 22-days which is roughly the same amount of time the share price will rise from the close of $0.26 to the range of $0.32-$0.34 according to standard principles of technical analysis.Trading Central has also identified a bearish signal on Dalrymple Bay Infrastructure (ASX:DBI) following the formation of a pattern over a period of 20-days which is roughly the same amount of time the share price may fall from the close of $2.40 to the range of $2.28-$2.30 according to standard principles of technical analysis.

The Aussie share market lost 1.73% this week (Mon-Thu), as investor fears of a global recession increased and GDP growth data in Australia came in below expectations causing investors to analyse their sector exposures.In this week's wrap, Grady covers:(0:12) Market expectations on consumer spending(1:27) The changing outlook for retail companies(2:59) Private consumption as a percentage of GDP in Australia(3:24) The best performing stocks in the ASX200(5:05) The most traded stocks & ETFs by Bell Direct clients (5:30) Three economic news items to watch out for

Wall Street felt some relief on Thursday after new weekly jobless claims in the US ticked higher to 230,000 from 226,000 the week prior in a sign the Fed’s aggressive interest rate hikes are beginning to have an impact on the nation’s tight labour market. The slight uptick in jobless claims underpinned a rally on Thursday that saw the Dow Jones add 0.3%, the S&P500 lift 0.5% and the tech heavy Nasdaq added 0.9%.Despite the slight relief rally, investors remain focused on the Fed’s FOMC meeting next week where it is expected another 50-basis points.Over in Europe, markets closed mostly lower again as investor fears of a global recession continued to dominate sentiment across markets in the region. Germany’s DAX added just 0.02%, while the French CAC fell 0.14% and the UK’s FTSE100 lost 0.23%.What to watch today:Ahead of the local trading session the SPI futures is anticipating the ASX to open 0.31% higher buoyed by the rally on Wall St overnight.On the commodities front, crude oil continues its decline trading 0.7% lower at US$71.51/barrel, coal is trading almost 1% lower at US$405/tonne, gold is up 0.11% at US$1788/ounce and iron ore is down 1.83% at US$107.50/tonne.The Australian dollar has strengthened to buy 67.73 US cents, 92.58 Japanese yen, 55.33 British pence and 1 New Zealand dollar and 6 cents.Taking a look at economic data out today, China’s inflation rate data for November is released around midday Australian eastern daylight time, with the market expecting a decline to 1.6% from 2.1% in October.Trading Ideas:Trading Central has identified a bearish signal on Viva Energy Group (ASX:VEA) following the formation of a pattern over a period of 157-days which is roughly the same amount of time the share price may fall from the close of $2.66 to the range of $1.95-$2.10 according to standard principles of technical analysis.And Trading Central has also identified a bearish signal on Bravura Solutions (ASX:BVS) following the formation of a pattern over a period of 23-days which is roughly the same amount of time the share price may fall from the close of $0.78 to the range of $0.40-$0.48 according to standard principles of technical analysis.

The ASX took strong lead from global markets overnight into Thursday’s session, finishing the day down 0.75% as investors continued to flee high growth tech stocks in the rising interest rate environment. The worst performing sector today was energy stocks, while 7 of the 11 sectors also closed red today.Chalice Mining (ASX:CHN) soared 13% today after the exploration company announced promising new sulphide mineralisation at the company’s initial drilling at the greenfield Hooley Prospect, around 5km north of the current Gonneville Resources at the 100%-owned Julimar Nickel-Copper-Platinum Project in WA. Sulphide mineralisation was intersected at all 5 reconnaissance holes from three drill sites over the prospect, with assays pending for a further nine holes.All four big banks have passed on the full 25-basis points rate hike to variable interest rate customers, but none have announced whether, if at all, the rate hike will be passed onto term deposit customers.Downer (ASX:DOW) shares plunged more than 21% today after the engineering group flagged accounting irregularities and cut its profit guidance for FY23 in an update to investors. The winning stocks from today’s session were led by Chalice Mining (ASX:CHN) adding 13%, West African Resources (ASX:WAF) added 4.65% and Sliver Lake Resources (ASX:SLR) jumped 3.88%. And on the losing end of the session, Downer (ASX:DOW) led the losses tanking 20.42%, Core Lithium (ASX:CXO) fell almost 10% and Novonix (ASX:NVX) shed 8.09% today.The most traded stocks by Bell Direct clients today were Whitehaven Coal (ASX:WHC), Yancoal (ASX:YAL), and Commonwealth Bank of Australia (ASX:CBA).On the commodities front this afternoon, crude oil is trading 0.86% higher at US$72.64 per barrel, coal is down 0.93% at US$405 per tonne, gold is down 0.22% at US$1,782 per ounce, and iron ore is down almost 2% at US$107.50 per tonne.The Aussie dollar is buying 67.15 US cents, 91.99 Japanese Yen, 55.01 British Pence, and NZ$1.06.In economic data out today, Australia’s trade balance for October was unveiled with a surprise slight fall to $12.217 billion in trade surplus, which well exceeds the forecasted decline to $11.9 billion, indicating exports and imports remained relatively unchanged from September to October.

Wall Street extended the recent red run into the midweek session as investors fear higher interest rates and a subsequent economic downturn are increasingly likely given recent surprising economic data out in the US. The Dow Jones fell 0.2%, the S&P500 lost 0.3% and the tech heavy Nasdaq shed 0.7%.Further remarks from a host of Wall Street executives added to investor fears of recession, with JPMorgan CEO Jamie Dimon saying the US$1.5trn in excess savings across America’s bank accounts was quickly diminishing amid rising prices of goods and services.Over in Europe, the global sell-off continued amid rising fears of a global recession. Germany’s DAX fell 0.57%, the French CAC lost 0.41% and in the UK, the FTSE100 closed the midweek session down 0.43%.On the commodities front, oil extended losses overnight trading 2.78% lower at US$72.18/barrel, coal is down almost 1% at US$405/tonne, gold is up almost 1% at US$1787.67/ounce and iron ore is flat at US$109.50/tonne.The Aussie dollar is buying 67.27 US cents, 91.76 Japanese yen, 55.05 British pence and 1 New Zealand dollar and 6 cents.What to watch today: Ahead of the local trading session here in Australia the SPI futures is anticipating the ASX to open 0.26% lower on the back of the turbulent global sessions overnight.Taking a look at economic data out today, Australia’s trade balance data for October is released with the market expecting a decline in trade surplus to $11.9bn from $12.44bn in September.Trading Ideas:Bell Potter has initiated coverage of The Environmental Group (ASX:EGL) with a buy rating and a price target of $0.26, as the company is seen to be at a significant inflection point. In Bell Potter’s view, core segments validate the majority of EGL’s current share price, providing a cheap option on a high ceiling polyfluoroalkyl substances (PFAS) opportunity.Trading Central has identified a bullish signal on Maggie Beer Holdings (ASX:MBH) following the formation of a pattern over a period of 24-days which is roughly the same amount of time the share price may rise from the close of $0.21 to the range of $0.24-$0.26 according to standard principles of technical analysis. 

US equities declined overnight, with the Dow dropping by 526 points or 1.5%, while the S&P500 and the Nasdaq fell by 2% and nearly 2.3%, respectively. While equities fell, bond yields pushed higher, with the yield on the benchmark 10-year Treasury last trading up 10 basis points. Big movers overnight were Microsoft, Amazon and Netflix which all closed lower on growth concerns. Tesla shares also dropped about 7% on reports of an output cut at its Shanghai factory. In Europe, markets closed fixed, with the FTSE 100 closing in the green, while the other major benchmarks were lower. Oil prices turned negative in late afternoon trade in Europe as OPEC stuck to its policy of lowering oil production and as China relaxed some of its COVID rules. The alliance of OPEC and non-OPEC producers agreed to stay the course on output policy ahead of the EU’s ban on importing Russian crude that came into force yesterday. What to watch today:The Australian market is set to open lower ahead of the final RBA policy meeting of the year, with the SPI futures suggesting a fall of 0.67% at the open. The RBA will announce the next interest rate decision at 2:30pm AEDT. The cash rate is currently at 2.85%, and the market is expecting an increase to over 3%, which will be the eighth consecutive increase and will lift the cash rate to its highest level in 10 years. In other economic news, the ABS will release Q3 data on Australia’s current account surplus, which last jumped to $18.3 billion in Q2. And US trade balance data for October will be out tonight. In commodities, Oil is trading over 3.5% lower at around US$77 per barrel, which is a dramatic reversal from its daily highs of around US$82. Investors grew risk averse, which boosted the US dollar but hurt equities, and made the commodity more expensive for holders in other currencies. Gold is down 1.65%, falling from a 5-month high as the US dollar and Treasuries lifted. While iron ore is trading over 1% in the green, the highest since late August as eased COVID curbs and measures to stimulate China’s economy has increased expectations for higher demand. Watch the Bank of Queensland (ASX:BOQ) today as the company is set to hold its AGM. Trading Ideas: Bell Potter maintain a Speculative Buy rating on Strike Energy (ASX:STX) with a $0.42 valuation. At its current share price of $0.32, this implies 29% share price growth in a year. Trading Central have identified a bullish signal in BetMakers Technology (ASX:BET) indicating that the stock price may rise from the close of $0.32 to the range of $0.37 to $0.39, over 30 days according to the standard principles of technical analysis. 

The local market advanced 0.33% today driven by a rally for materials stocks amid a rise in the price of iron ore. Fortescue Metals Group (ASX:FMG), BHP Group (ASX:BHP) and Rio Tinto (ASX:RIO) each added almost 7%, almost 3% and 4% respectively.The price of iron ore also jumped today as China loosened the curbs on its COVID-19 restrictions including Shenzhen and Beijing removing the requirement for commuters to produce a negative COVID-19 test before boarding public transport, enhancing demand outlook for iron ore. The price of oil jumped 1.28% today after OPEC+ decided to maintain oil production and current levels of reducing oil output by 2 million barrels a day from November through 2023 amid increased Western sanctions set to be placed on Russian oil set to kick in soon in addition to China easing restrictions boosting demand outlook. The EU is set to ban most seaborne Russian oil imports from Monday.Splitit (ASX:SPT) lifted over 8% today after the buy now, pay later company expanded its agreement with Google, to bring instalment payments solutions to the Google store in the US, Canada and Australia. OreCorp (ASX:ORR) took flight today amid production outlook of 240,000 ounces of gold per year for 1—year at its Nyanzaga Gold Project in Africa. The company recently received debt funding proposals to fund the development of this project, including non-binding expressions of interest from banks in Europe, Africa and Tanzania for more than US$400 million. Gina Rinehart has expanded her presence in the rare earths space through buying a 10% stake in Arafura Rare Earths via a $60 million investment in a $121m capital raising.The most traded stocks by Bell Direct clients today were St Barbara (ASX:SBM), Rio Tinto (ASX:RIO) and Nickel Industries (ASX:NIC).The Aussie dollar is buying 68.46 US cents, 55.36 British Pence, 91.95 Japanese Yen and NZ$1.06.On the economic data front today, third quarter company profits in Australia unexpectedly fell 12.4% in data released today, missing market expectations and indicating the RBA’s rate hike actions to date have started taking effect. The decline in company profits for the quarter was the first drop since Q4 2020, with the largest decline felt in mining, manufacturing and recreation services. Year to date, Q3 corporate profits rose by 8.5% which is a sharp decline from the 28.2% surge in Q2.On the commodities front, natural has is down 6.3%, coal is up 1.56% at US$391 per tonne, uranium is down 1.2% but gold is up 0.62% at US$1809 per ounce, and iron ore is up 1.43% at US$106.70.

The local market dipped 0.72% on Friday, ending the recent rally, as investors await the RBA’s interest rate decision for December out on Tuesday this week. The gold miners had a run on Friday as investors piled into gold stocks on the back of a rise in the price of the precious commodity, while investors fled REIT stocks in anticipation of the RBA’s latest rate hike announcement on Tuesday. REIT stocks have faced a tough run in 2022 as every interest rate hike implies further dent into real estate company balance sheets.The winning stocks on Friday were led by St Barbara (ASX:SBM) jumping 10.40% amid the rising price of gold, while Capricorn Metals (ASX:CMM) and Silver Lake Resources (ASX:SLR) each added just over 8% and 7% respectively at the closing bell on Friday. On the losing end, Corporate Travel Management (ASX:CTD) fell 5.85% on Friday despite no price sensitive news out of the travel company on Friday. Meanwhile IPH (ASX:IPH) and Charter Hall (ASX:CHC) each also fell 5.15% and 5.13% respectively to close out the week.The most traded stocks by Bell Direct clients on Friday were Karoon Energy (ASX:KAR), Alcidion (ASX:ALC) and Fortescue Metals Group (ASX:FMG).Wall Street also finished the last trading session of the week mixed across the key indices as non-farm payrolls data for November was released, coming in a lot stronger than expected which leaves the door open for the Fed’s to consider continued aggressive interest rate hikes to tackle the red-hot inflation in the region. The Dow Jones added just 0.1%, the S&P500 was unchanged and the Nasdaq fell 0.18%. Nonfarm payrolls data for November showed the US economy added 263,000 jobs for the month which beat consensus expectations for an increase of 200,000. While this is just one market report, it comes at a time where there was also a recent upside surprise on wage growth and weakening participation rate. Wages growth in inflation is a bad thing as wages are a large share of company costs, so when wages rise companies continue raising prices to counter the wage cost increase on finances. Investors and the market will now shift focus in the US to the upcoming CPI data for November out on December 13.Over in Europe, stocks closed mixed across the European markets as investors react to US jobs data and the ongoing debate around a price cap on Russian oil. Oil and Gas stocks led losses across markets after the EU tentatively agreed to a $60/barrel price cap on Russian seaborne oil according to Reuters. Germany’s DAX closed Friday’s session 0.27% higher, while the French CAC fell 0.17% and, in the UK, the FTSE100 fell just 0.03%.What to watch today:Ahead of the local trading session here in Australia, the SPI futures are expecting the market to recover from Friday’s sell-off to open 0.26% higher.Taking a look at commodities to start the week, it’s a red start across the board with Crude Oil trading down 1.53% at US$79.98 per barrel, natural gas is down 7.53%, gold is down 0.31% at US$1797.35 per ounce but iron ore is up 1.43% at US$106.50 per tonne.The Aussie dollar has strengthened to buy 67.9 US cents, 91.28 Japanese Yen, 55.35 British Pence and NZ$1.06.In terms of economic data out today, local investors will be keeping an eye out for Australia’s global services PMI final data for November, and company gross profits for the third quarter.Trading Ideas:Trading Central has identified a bullish signal on Red 5 (ASX:RED) following the formation of a pattern over a period of 48-days which is roughly the same time the share price may rise from the close of $0.20 to the range of $0.23 to $0.24 according to standard principles of technical analysis.Bell Potter has maintained a buy rating on IPD Group (ASX:IPG) but has increased the price target from $2.25 to $3.35 following a new cyclical trend noticed in demand for electrification which IPD Group is

The Aussie share market rallied 1.3% this week (Mon-Thu), encouraged by the Chairman of the Federal Reserve, Jerome Powell’s speech, that essentially confirmed the Fed will slow the pace of interest rate hikes in December. In this week's wrap, Sophia covers:(0:15) What to expect from OPEC's meeting on Sunday(0:34) The impact of a price cap on Russian crude(1:01) What production cuts really mean for energy markets(3:20) The best performing stocks on the ASX200(4:11) The most traded stocks & ETFs by Bell Direct clients(4:38) Five economic news items to watch out for

Following Fed chairman’s Jerome Powell’s speech that essentially confirmed that the Fed will slow the pace of interest rate hikes, we saw a surge in equities that added over $1 trillion to the market capitalisation of the S&P500 alone. Meanwhile the Dow Jones hit a 7-month high and its 12-month return turned positive. The Dow has already rallied over 20% from its year-to-date low.Overnight however, the three major benchmarks closed mixed ahead of the US jobs report. The Dow closed 0.6% lower, the S&P500 down 0.1%, while the Nasdaq is slightly higher, up just 0.09%.On the other hand, European equities hit six-month highs. The Stoxx 600 is up 0.9%, however the FTSE 100 closed 0.2% lower.What to watch today:Following the mixed sessions in global markets, the SPI futures are suggesting out local market will drop 0.2% at the open this morning.In commodities:Oil is trading higher, as investors are weighing the prospects of a recovery in demand against further supply cuts from OPEC, ahead of OPEC’s upcoming meeting on December 4th.Gold has jumped almost 2% higher, reaching its highest level since early July, due to the sharp US dollar depreciation.Iron ore is currently trading flat.In economic data, there are a few key figures set to be released globally. Locally, Australia’s retail sales data and home loans data for October is set to be released today. Plus, RBA Governor Phillip Lowe is set to give a speech at 1pm AEDT. Overseas, the Eurozone Producer Price Index for October and the US unemployment rate for November are out tonight. And investors are also awaiting OPEC’s meeting on Sunday.Watch Premier Investments Limited (ASX:PMV) as the company is set to hold its AGM today.Trading Ideas: Bell Potter maintain a Buy rating on PolyNovo (ASX:PNV), which is a commercial stage medical device company. The $30 million placement conducted last week significantly strengthens the company’s balance sheet. Bell Potter says it provides the growth platform facilitating the expansion of the US and global sales team with key markets in Asia and Canada being targeted. Bell Potter have increased their price target from $1.90 to $2.30, and their price target is purely generated from their Discounted Cash Flow methodology, as this best captures the longer term potential for PolyNovo. At PNV’s current share price of $2.03, this implies 13.3% share price growth in a year.

The Australian market jumped at the open this morning, after the US Federal Reserve Chairman Jerome Powell confirmed last night that smaller rate hikes could start as early as December. Our market then followed the rally on Wall Street and the ASX200 closed 0.96% in the green. In economic news, domestic new capital expenditure fell 0.6% for the September quarter. The materials sector climbed for the second straight day, as commodities rallied overnight. Both Ramelius Resources (ASX:RMS) and South32 (ASX:S32) posted strong gains, closing 10.5% and 6.7% respectively. Meanwhile the energy sector was the worst performing sector, dragged down by Woodside Energy (ASX:WDS), Whitehaven Coal (ASX:WHC) and New Hope (ASX:NHC). Financials were generally higher, with the big four banks adding between 0.3% and 0.8%.Artificial intelligence company Appen (ASX:APX) jumped today, following  a strong night of trade among tech stocks on Wall Street, with the Nasdaq up more than 3% by the close. Also boosted by the strong session In tech shares was accounting software company Xero (ASX:XRO) and payment company Block (ASX:SQ2). Citi also released a bullish broker note on XRO, maintaining their Buy rating and price target of $97.90. XRO today closed at $75.08. The comments by the Fed also provoked investors to move back into gold. The All Ords Gold Index (ASX:AXGD) closed 4% higher today, and gold mining stocks such as Evolution Mining (ASX:EVN) posted strong gains. The most traded stocks by Bell Direct clients today were Telstra (ASX:TLS), Core Lithium (ASX:CXO), Rio Tinto (ASX:RIO) and BHP Group (ASX:BHP). As for economic data out tonight, the US Manufacturing PMI, run by the Institute for Supply Management will be release at 2am local time. This is the US’s version of the monthly economic indicator, based on a survey of purchasing managers at more than 300 manufacturing firms. And the purchasing managers’ index is considered to be a key indicator of the state of the US economy and provides us data on economic trends in the manufacturing sector. The Australian dollar is firmer, with 1 Australian dollar buying US$0.68, 93.06 Japanese Yen, 55.77 British Pence and NZ$1.08. 

It was a strong session overnight after Federal Reserve chairman Jerome Powell signalled that the pace of rate rises will slow as soon as this month. The Dow Jones jumped 535 points or 1.6%. The S&P500 added 2.4% and the Nasdaq jumped 3.6%, while the 10-year Treasury yield slightly eased. The Fed also cautioned that they may still stay with restrictive policy, with a long way to go in restoring price stability. Wrapping up the month, the Dow and the S&P500 are up more than 4%, and the Nasdaq up around 3%. European markets closed higher, as regional investors reacted to the latest inflation data. Eurozone inflation dropped by more than expected in November, fuelling market hopes that record-high price growth has peaked, and the European Central Bank will begin slowing its interest rate hikes next month. The major benchmarks were all in the green, with the Stoxx 600 up 0.6%, Germany’s DAX up 0.3%, France’s CAC up 1.04% and the FTSE 100 up 0.8%. Asia-Pacific shares were mostly higher even after data for China’s factory activity fell short of expectations, dropping to the lowest reading since April. What to watch today:Our local market is set to open higher, with the SPI futures suggesting a rise of 0.73% this morning. In economic data, the S&P Global Manufacturing final PMI for November will be released a 9am AEDT this morning. Remember a PMI above 50 represents an expansion from the month prior. The degree to which the reading is above 50 reflects how fast the manufacturing sector is expanding. Looking at commodities, Oil has rallied, trading 3.2% higher at US$80.70 per barrel, supported by larger-than-expected crude inventories. Gold has jumped 1.2% higher, closing in on its highest level in two weeks, on expectations of a smaller rate hike by the Fed in December. Markets are now expecting a 50-basis point hike, after the Fed delivered four straight 75 basis point increases. Iron ore is trading 2.5% higher at US$103 per tonne, the highest since mid-September, while seaborne iron ore is also trading just under 1% higher. Nickel is trading almost 5% higher. The London Metals Exchange stepped up market surveillance activity in response to a rally that saw Nickel surge by 40% to a six-month high of around US$30,000 in just two weeks. The sharp price swing raised concerns about a liquidity crisis. Nickel is currently trading at US$26,744 per tonne. Aluminium has also gained, up 4%. Watch BHP Group (ASX:BHP) and Rio Tinto (ASX:RIO) today, after the mining giants both posted gains on the New York Stock Exchange overnight. ASX-listed BHP and RIO may follow lead. Stocks set to go ex-dividend today are Pendal (ASX:PDL) and TechnologyOne (ASX:TNE). Remember this often sees shares fall as investors take their profits. Trading Ideas:Bell Potter maintains their Buy rating on Life360 (ASX:360) and their price target of $9, which is expected to return 49%. The next potential catalyst they see for 360, is the release of the 2022 results in March next year. Preliminary results will be released in February, where they expect the guidance to be met. And Trading Central have identified a bullish signal in DevEx Resources (ASX:DEV) indicating that the stock price may rise from the close of $0.33 to the range of $0.38 to $0.40 over 30 days, according to the standard principles of technical analysis. 

In the first hour of trade, the Australian share market was lower ahead of the monthly inflation reading, however when CPI was announced at 11:30am, good news boosted the market. The monthly consumer price index advanced 6.9% in the year to October, slowing from September’s record high of 7.3%, and below market consensus of a 7.4% gain.  The reading showed a softer rise in food prices than previously, however prices were rising across most food categories, with prices rising the most in fruit and vegetables and meat and seafoods. The RBA expects inflation to peak at the end of the year at around 8%. In other economic news, October residential building approvals slid 6.4% on the year. The materials sector advanced today, with lithium miners lifting the group. Coal miners were also buoyant, with Whitehaven Coal (ASX:WHC) and New Hope Corporation (ASX:NHC) closing with solid gains. The energy sector was the best performer, advancing 1.8%, followed by real estate stocks. Financials on the other hand, were weighed down by insurance companies, with Insurance Australia (ASX:IAG), Suncorp (ASX:SUN) and QBE Insurance (ASX:QBE) all in the red. And utilities, consumer staples and healthcare were the worst performing sectors. Looking at the AX200 leaderboard, Sayona Mining (ASX:SYA) jumped over 12% today, followed by Whitehaven Coal (ASX:WHC), New Hope (ASX:NHC) and Lake Resources (ASX:LKE). The worst performing stock was gold miner St Barbara (ASX:SBM). The Australia dollar is slightly up, with 1 Aussie dollar buying US$0.67, 55.85 British Pence, 92.81 Japanese Yen, and NZ$1.08. 

Wall Street closed mostly lower on Tuesday as investors shift focus to the week ahead, filled with key economic data and Fed Chair Jerome Powell’s speech on Wednesday where he is expected to talk about the fiscal and monetary policy. Investors also struggled to recover from sharp losses faced in Monday’s session. The Dow Jones fell just 1 point, the Nasdaq shed 0.6% and the S&P500 closed the day down 0.2%. Investors are anxiously awaiting the release of important jobs and indicative GDP data for Q3 which is out later this week and will play an important role in the Fed’s next interest rate decision at the next FOMC meeting on December 14.Over in Europe markets closed lower across the board as investors continue to monitor news from China on the COVID-restrictions front. The Stoxx 600 closed down 0.1%, Germany’s DAX fell 0.2% and the French CAC lost 0.06%. Over in the UK, the FTSE100 declined 0.51%.What to watch today:On the commodities front, crude oil is trading up 1.13% at US$78.16 per barrel, gold is trading up 0.6% at US$1,751 an ounce, and iron ore is trading down almost 1% at US$100.50 a tonne.Looking at economic data out today, it’s a big data day for Australia’s building industry with construction work done for Q3 out at 11am eastern daylight time, and building permits preliminary data for October is out at 11:30am eastern daylight time. Overseas investors will be awaiting the release of US GDP growth rate data 2nd estimate for Q3 with markets expecting an increase of 2.6% for the quarter. JOLTs Job Openings data for October is also out tomorrow which will give an insight into America’s workforce in the tight labour environment.Ahead of the local trading session, the SPI futures are anticipating the ASX to open flat following the lacklustre session on Wall Street overnight.The Aussie dollar is buying 66.88 US cents, 92.62 Japanese Yen, 55.75 British Pence and NZ$1.08.Trading Ideas:Bell Potter has downgraded its price target on Bubs Australia (ASX:BUB) following the recent shortfall in Q1 of FY23 infant milk formula revenues compared to Bell Potter expectations, and negative year-on-year growth implied in the second quarter expected revenue guidance warrants a more cautious approach to near term revenue growth, earnings growth and valuation.Trading Central has a bullish signal on Coronado Global Resources (ASX:CRN) following the formation of a pattern over a period of 17-days which is roughly the same amount of time the share price may rise from the close of $2.02 to the range of $2.37-$2.45 according to standard principles of technical analysis.

Our local market gained just 0.3% today. While the ASX200 was trading quite flat today, Qantas shares were outperforming the XJO, as well as other travel stocks, amid news that Qantas Frequent Flyer has launched thousands of points planes to coastal cities over the summer. More than 3,000 flights will be turned into what’s referred to as “points planes” where every seat can be booked under a classic flight reward. Late last week, brokers retained their Buy recommendations on QAN. UBS and Ord Minnett retained a Buy, Credit Suisse and Macquarie both Outperform and Morgan Stanley Overweight.A boost in iron ore futures prices saw mining stocks advance today. The materials sector performed best, gaining 1.7%, followed by healthcare and technology, while real estate declined the most.The best performing stocks on the ASX200 today were Fisher and Paykel (ASX:FPH), Nanosonics (ASX:NAN) and Rio Tinto (ASX:RIO), while the worst performers were Collins Foods (ASX:CKF), ASX (ASX:ASX) and Virgin Money UK (ASX:VUK).The most traded stocks by Bell Direct clients today were Core Lithium (ASX:CXO), APA Group (ASX:APA), BHP Group (ASX:BHP) and Commonwealth Bank (ASX:CBA).The Australian dollar is buying US$0.67, 92.85 Japanese Yen, 55.85 British Pence and NZ$1.08.

Global markets closed in the red overnight, after protests in China raised worries around supply chains. Stocks fell as social unrest from China’s prolonged COVID restrictions weighed on markets around the world. Chinese governments tightened some COVID controls as case numbers rose, even though earlier this month Beijing adjusted some policies that otherwise suggested the country’s reopening.This saw oil futures hovering around brand-new lows for this year, earlier in the trading day, due to concerns around demand.In US equities, the Dow Jones dropped more than 500 points or 1.5%. The S&P500 and the Nasdaq each dropped 1.7%.China is the world’s second-biggest economy, so almost all markets are affected in some way. We also saw Bloomberg report that it could mean 6 million fewer iPhone units for the year, as the factories in China are shutdown, and this saw Apple shares drop 2.8%.European equities were down also. The STOXX 600 down 2.9%, Germany’s DAX down 1%, France’s CAC down 0.7% and in the UK the FTSE 100 down 0.2%.What to watch today:The SPI futures are suggesting the Australian market will open flat this morning.In commodities:Currently oil prices have rebounded, now trading 1% higher at US$77 per barrel, after having hit an 11-month low of US$73.50 earlier in the session. As well as the protests in China, there are also rumours of an OPEC production cut. Keep your eye on energy producers today such as Santos (ASX:STO) and Beach Energy (ASX:BPT).Meanwhile the price of gold is reading 0.85% lower, pressured by a recovery in the US dollar.The iron ore price has jumped 2.5% at US101.50 per tonne and is set to close the month nearly 25% higher at levels last seen in mid-September. In iron ore markets, expansionary measures from China to sustain slowing economic growth, outweighed the concerns about the protests. So keep watch of Rio Tinto (ASX:RIO), Fortescue Metals (ASX:FMG), Champion Iron (ASX:CIA) and BHP Group (ASX:BHP).Trading Ideas:Bell Potter maintain a Buy rating on IPD Group (ASX:IPG), which is a leading Australian distributor of electrical equipment and industrial digital technologies operating nine distribution centres and services over 4,200 customers nationally. Bell Potter maintained their recommendation after the company’s AGM yesterday, where they released H1 2023 estimated guidance well-ahead of Bell Potter’s estimated forecasts. Bell Potter say that the company provides investors with leverage to a new life cycle of demand, which in Europe has seen a more than 15% market growth per annum over the last two years. Bell Potter have increased their price target from $2.25 to $3.35, and at its current share price of $3.05, this implies 9.8% share price growth in a year.Trading Central have identified a bullish signal in NEXTDC (ASX:NXT) indicating that the stock price may rise from the close of $9.82 to the range of $11 to $11.30 over 51 days according to the standard principles of technical analysis.

The local market started the week in negative territory, closing the session down 0.42% as a sharp sell-off in energy stocks weighed on the key index driven by commodity prices plunging. Oil retreated to its lowest level since 2021 today, amid unrest in China as large crowds gathered in Shanghai, Beijing and Wuhan to protest over the harsh COVID-19 restrictions in the region. Sentiment in the oil market has remained a key focus in recent times amid concerns over demand in China, the world’s largest importer of crude oil. The price of oil has also been impacted in recent days as the EU continues to negotiate over a price cap on Russian oil. Across the other commodities, gold is trading 0.31% lower at US$1750 per ounce, while iron ore is up 2.53% at US$101.50 per tonne.RBA governor Philip Lowe has this morning apologised to Australians who took out mortgages expecting interest rates to stay unchanged through 2024. Mr Lowe said the RBA had failed by not making it clear that its commentary about steady interest rates was heavily conditional on the state of the economy.Investors continued selling out of lithium stocks today on concerns demand for electric vehicles in China is weakening after EV registrations in China plummeted by more than a fifth in October from September.The winning stocks today were led by New Hope Corporation (ASX:NHC) adding 5.4%, Whitehaven Coal (ASX:WHC) rallying almost 4% and Brickworks (ASX:BKW) ending the day up 3.2%. And on the losing end, Healius (ASX:HLS) took the biggest hit today, falling just over 10%, while Liontown Resources (ASX:LTR) and Ramelius Resources (ASX:RMS) each fell 7.5% and 6.5% respectively.The most traded stocks by Bell Direct clients today were Bendigo & Adelaide Bank (ASX:BEN), Bank of Queensland (ASX:BOQ) and Telstra (ASX:TLS).Preliminary retail sales data for October out today shows consumer spending has declined for the first time in 2022, with sales down 0.2% on September in a sign rising interest rates are starting to have an impact on consumer spending which in-turn is part of the RBA’s goal to cool the nation’s inflation.The Aussie dollar is buying 66.85 US cents, 55.85 British Pence, 92.61 Japanese Yen and NZ$1.08.

The local market climbed 0.25% on Friday as investors anticipated strong Black Friday sales demand would boost the beaten down consumer discretionary sector. Utilities stocks soared 5% on Friday, while materials and energy stocks were sold off.The winning stocks on Friday were led by Nanosonics (ASX:NAN) lifting 11.06% on the back of Ord Minnett upgrading the company to a hold rating with an improved price target of $4.00. Ramelius Resources (ASX:RMS) jumped almost 7% on Friday and Virgin Money UK (ASX:VUK) rose 6.12%. On the losing end, Allkem (ASX:AKE) fell 8.61% on Friday, amid a sell-off in lithium stocks on reports that the price of lithium may have hit a price ceiling. Pilbara Minerals (ASX:PLS) and Lake Resources (ASX:LKE) also each fell 6.7% and 5.7% respectively.The most traded stocks by Bell Direct clients on Friday were New Energy Solar (ASX:NEW), Pilbara Minerals (ASX:PLS) and Fortescue Metals Group (ASX:FMG).Wall Street had a slightly mixed session on Friday as investors shifted focus to Black Friday online sales, which topped a record US$9 billion. Investor optimism was also boosted last week on renewed signs that the Fed’s may soon begin easing the aggressive rate hikes tackling inflation. Buy now pay later methods of purchasing goods during Black Friday sales rose 78% compared with the week prior as consumers turned to instalment payments amid rising interest rates. The Dow Jones rose 0.45% on Friday, while the Nasdaq and S&P500 each fell 0.52% and 0.03% respectively.Over in Europe, markets closed flat with mining and financial stocks taking the biggest hit. Credit Suisse shares fell to a record low on Friday despite the company securing $4 billion from investors to fund its second strategic overhaul. The STOXX600 closed just 0.025% lower on Friday, Germany’s DAX rose 0.01%, the French CAC added 0.08% and the FTSE100 in the UK rose 0.27%.What to watch today:Ahead of the local trading session the SPI futures are expecting the ASX to open 0.12% lower to start the new trading week.On the commodities front crude oil has dipped 2.31% to trade at US$76.28 per barrel, gold is up 0.07% at US$1756.2 per ounce, and iron ore is up 2.53% at US$101.50 per tonne.The Aussie dollar has strengthened to buy 67.19 US cents, 93.55 Japanese yen, 55.83 British pence and NZ$1.08.Taking a look at economic data out today, Australian preliminary retail sales data for October is out, giving an insight into whether consumers continued spending on retail in October as interest rates continue to rise. RBA governor Philip Lowe will also speak at 10am AEDT today giving an insight into the RBA’s interest rate stance moving forward.Trading Ideas:Trading Central has identified a bullish signal on BetMakers Technology (ASX:BET) following the formation of a pattern over a period of 24-days, which is roughly the same amount of time the share price may rise from the close of $0.30 to the range of $0.35 to $0.37 according to standard principles of technical analysis.Bell Potter has downgraded its rating on Costa Group (ASX:CGC) from a Buy to a Hold on the grounds of continuing to see the issues of CY22 as largely seasonal rather than structural, however the recent share price recovery has seen the value equation shift back in favour of the other ASX listed horticultural exposures.

The Aussie share market lifted 3.6% this week (Mon-Thu), as investor sentiment was boosted by signs that the RBA and other central banks will ease their aggressive stance on rates. Plus we put the magnifying glass on some of 2022’s big deals.   In this week's wrap, Grady covers: •    (0:13) How companies & investors navigated M&As this year •    (0:36) The mining deal between BHP & OZ Minerals  •    (1:26) Perpetual's bidding war over Pendal •    (3:39) The best performing stocks on the ASX200 •    (4:40) The most traded stocks & ETFs by Bell Direct clients  •    (5:12) Four economic news items to watch out for

US financial markets were closed for the Thanksgiving holiday, with trading set to resume on Friday in New York. However, markets will close early at 1pm local time. European stocks rallied to levels last seen 3 months ago, with the STOXX 600 closing at its strongest level since August 18, led by gains in real estate stocks. What to watch today: The SPI futures are suggesting the Australian market will rise 0.18% at the open this morning. In commodities: The oil price has slightly rebounded, regaining only some of its earlier losses, after closing at a two-month low in the previous session, as the price continues to be pressured by COVID cases in China. This is causing concerns of tighter restrictions in China, which would affect energy demand. Also, the G7 proposed a price cap on Russian oil in the range of US$65-70 per barrel. However, the high cap won’t cause disruption to Russian flows and so will likely have minimal effect on markets. The gold price continues to rise for the third straight day, after the Federal Reserve’s meeting minutes were released, which showed that a substantial majority of policymakers agreed it would likely soon be appropriate to slow the pace of interest rate hikes. Iron ore is trading over 1% higher, nearing the eight-week high of US$99.50, hit on November 18. This is due to fresh liquidity injections to steel consumers from China, of course a top consumer. Goldman Sachs this morning downgraded BHP group (ASX:BHP) to a neutral rating with an improved price target of $42.90, after assessing its valuation against global peers. Meanwhile, Goldman Sachs is more optimistic toward Rio Tinto (ASX:RIO), this morning reiterating its buy rating with an improved price target of $114.70, saying that the development of Rhodes Ridge has the potential to be significant for Rio’s Pilbara business.  Trading Central:Bell Potter maintain a Buy rating on Volpara Health Technology (AX:VHT) and maintain their price target of $1.10. FY23 revenues are reduced by $2.1 million to $35.5 million, which is $1 million above guidance. H2 revenues are reliably higher than H1 and Bell Potter expect this trend will continue. At VHT’s current share price of $1.10, this implies 69.2% share price growth in a year. Trading Central have identified a bullish signal in Reliance Worldwide (ASX:RWC) indicating that the stock price may rise from the close of $3.19 to the range of $3.32 to $3.39, over 16 days, according to the standard principles of technical analysis.

The local market jumped 0.14% to a near 6-month high today on the back of a solid session on Wall Street overnight buoyed by the latest FOMC minutes outlining that it may be appropriate soon for the Fed’s to slow down their aggressive rate hikes. Tech stocks was the best performing sector, while gold miners also led the charge today amid a rise in the price of the precious commodity.Qantas Airways (ASX:QAN) shares came off in afternoon trade following reports that the company’s domestic flight attendants have demanded the airline lift a two-year staff wage freeze or face the threat of attendants walking off the job during the Christmas rush. Nick Scali (ASX:NCK) shares soared over 10% today as investors responded to the furniture retailer’s AGM trading update outlining the company is performing materially better than expected in H1FY23 with revenues up 74% on the same period a year earlier. The company also expects first half profit to be between 56% to 66% above that of H1 FY22.AGL Energy (ASX:AGL) shares took a hit today as investors responded to the company’s announcement today revealing it has decided to close the power Torrens Island B Power station in South Australia on the 30th June 2026 after 50-years of operation. The AGL management team doesn’t expect the closure announcement to have a material impact on earnings in FY23 nor does it expect the closure to have long term impact.The winning stocks for today’s session were St Barbara (ASX:SBM) up over 9%, BrainChip Holdings (ASX:BRN) adding more than 8.5% and Evolution Mining (ASX:EVN) closing the day up 6.6%. And on the losing end coal miners weighed on the key index today amid concerns over demand in China, with New Hope Corporation (ASX:NHC) tanking almost 9% today, while Whitehaven Coal (ASX:WHC) fell 6.65%.The most traded stocks by Bell Direct clients today were Australian Foundation Investment Co (ASX:AFI), Northern Star Resources (ASX:NST), and Bellevue Gold (ASX:BGL).Commodities are trading mixed this afternoon with crude oil down 0.24% to U$77.75 per barrel, and natural gas is down 1.53%, while gold is up 0.4% at US$1,755.86 an ounce, and iron ore is also up just over 1% at US$98 a tonne.The Aussie dollar has strengthened to buy 67.61 US cents, 93.79 Japanese Yen, 56 British Pence and NZ$1.08.

Wall Street extended its rally into Wednesday after the latest FOMC minutes showed most policy makers expect a slowdown in interest rate hikes will ‘soon be appropriate’. For the first time though, the Federal Reserve staff said that a recession is possible in the next year, with some saying the Fed’s current action could exceed what was required to tackle the country’s 40-year high inflation. Trading volumes in the US have been lighter this week amid the Thanksgiving holiday on Thursday. The Dow Jones rose 0.28%, the Nasdaq added 1% and the S&P500 rallied 0.6%.Over in Europe, markets closed slightly higher as investors awaited the release of the Fed’s FOMC minutes in afterhours trade. The STOXX600 rose 0.6%, Germany’s DAX rose just 0.04% and the French CAC added 0.32%.In the UK the FTSE100 closed the midweek session almost 0.2% higher.What to watch today:Ahead of the local trading session the SPI futures are anticipating the ASX to open just 0.06% higher as the global rally continued overnight.On the commodities front this morning, crude oil is trading 4.48% lower at US$77.32 per barrel, gold is up 0.67% at US$1,751.95 an ounce, and iron ore is trading 0.51% lower at US$97 a tonne.The Aussie dollar has strengthened to buy 67.3 U.S. cents, 93.85 Japanese yen, 55.95 British pence and NZ$1.08.There is no local economic data out today, however eyes will be on New Zealand’s market today after the reserve bank of New Zealand delivered its highest ever rate hike yesterday of 75-bassi points taking the country’s cash rate to 4.25% in a bid to tackle inflation in the region.Trading Ideas:Trading Central has identified a bullish signal on The Lottery Corporation (ASX:TLC) following the formation of a pattern over a period of 10-days which is roughly the same amount of time the share price may rise from the close of $4.56 to the range of $4.94-$5.02 according to standard principles of technical analysis.Trading Central has identified a bearish signal on GR Engineering Services (ASX:GNG) following the formation of a pattern over a period of 53-days which is roughly the same amount of time the share price may fall from the close of $2.03 to the range of $1.80-$1.86 according to standard principles of technical analysis.

Australian stocks rose from a second day, following a rebound in the US and European equity markets.  The ASX200 gained 0.7%, boosted by utilities, industrials and energy. All sectors, except technology and real estate, were trading in positive territory. Today Qantas Airways (ASX:QAN) upgraded guidance amid strong travel demand, which saw its share price close 5.3% higher. Qantas lifted its profit forecast for the December half as rampant consumer demand continues to buoy the sector’s COVID-19 recovery, despite capacity restraints and inflated fuel costs. The airline is expecting to book between $1.35 billion and $1.45 billion in underlying profit before tax in the first half of its financial year. That’s up $150 million from a previous guidance given in October. Meanwhile, net debt is expected to fall more than previously predicted. Technology stocks were mixed today, with WiseTech Global (ASX:WTC) falling 6.7% and was the worst performing stock on the ASX200, while BrainChip Holdings (ASX:BRN) gained 7% today, and was the best performing stock of the session.  The most traded stocks by Bell Direct clients today were Smartgroup Corporation (ASX:SIQ), New Hope Corporation (ASX:NHC), National Australia Bank (ASX:NAB) and BPH Energy (ASX:BPH).  The Australian dollar is buying US$0.66, 55.95 British Pence, 93.85 Japanese Yen and NZ$1.08. 

Wall Street rallied on Tuesday as investors shift focus from China’s covid-lockdowns to a number of strong earnings reports due out in the short trading week including from Nordstrom and HP Inc. The Dow Jones industrials index closed 1.16% higher, the tech-heavy Nasdaq added 1.25%, and the S&P500 rose 1.30%. Investors are keenly focused on a number of Fed official speeches this week, particularly on Wednesday, in hope of gaining an insight into future rate hike movements. Tesla shares hit the lowest level since July 2020 to start the week, amid a tech sell-off, however shares in the electric vehicle maker have been sold-off since the company’s CEO Elon Musk took over Twitter. Shares in Tesla are also being sold-off in line with China’s COVID lockdowns.Over in Europe, markets closed higher on Tuesday driven by a rally for oil stocks after Saudi Arabia denied a report that OPEC+ may boost oil output. The STOXX 600 closed up 0.8%, Germany’s DAX added 0.29% and the French CAC rose 0.35%. And the UK’s FTSE 100 closed Tuesday’s session up 1.03%.What to watch today:On the commodities front this morning, it’s a mixed bag as crude oil trades 2.29% higher at US$81.89 a barrel, natural gas is up 0.23%, gold is flat at US$1,739 an ounce and iron ore is down 2.01% at US$97.50 a tonne.Ahead of the local trading session, the SPI futures are expecting the ASX to open 0.74% higher on the back of the rally on Wall Street overnight.After the closing bell yesterday, RBA governor Philip Lowe spoke at the annual Ceda dinner outlining that the inflation we are feeling right now was the same high inflation that was felt in the 70s and 80s that damaged the economy and hurt our standards, which Mr Lowe is wary of allowing to happen again, therefore warned Aussies to brace for higher inflation and lower growth, fewer jobs and lower real wages. All in all Mr Lowe reiterated the RBA’s need to continue raising interest rates in order to curb the current period of high inflation and that they are not ruling out further 50-basis point rate hikes if needed in future.Looking at economic data, Australia’s S&P Global services and manufacturing preliminary PMI data is out for November giving an insight into demand for private services and manufacturing production companies in Australia which has been declining since September as the RBA continues to raise interest rates to tackle the nation’s red-hot inflation. The Reserve Bank of New Zealand will also announce its latest cash rate hike this morning with the market expecting a hike of 75-basis points, with the nation accelerating its monetary tightening to control rising inflation.The Aussie dollar has strengthened to buy 66.34 US cents, 56.16 British Pence, 93.74 Japanese Yen and NZ$1.08.Trading Ideas:Trading Central has identified a bullish signal on Cooper Energy (ASX:COE) following the formation of a pattern over a period of 30-days which is roughly the same amount of time the share price may rise from the close of $0.20 to the range of $0.27-$0.29 according to standard principles of technical analysis.Trading Central has identified a bearish signal on Infomedia (ASX:IFM) following the formation of a pattern over a period of 34-days which is roughly the same amount of time the share price may fall from the close of $1.11 to the range of $0.78-$0.84 according to standard principles of technical analysis.

The ASX rebounded from Monday’s losses to close Tuesday’s session up 0.59% at a fresh 5-month high, with the gains largely driven by investors piling into the energy sector today amid the rising price of commodities.Coal stocks rallied today as the price of the commodity surges 2.2% to US$351/tonne. Whitehaven Coal (ASX:WHC) jumped more than 7.5%, New Hope Corporation (ASX:NHC) rallied over 7% and Yancoal Australia (ASX:YAL) added more than 6%. Coal mining stocks also rallied after Origin Energy (ASX:ORG) warned the coal exit could be delayed globally.As we head into the Black Friday sales, Australian Retailers Association and Roy Morgan are forecasting sales will reach a record $6.2bn over the four-day period from Friday to Monday, with most Aussies in the survey saying they will spend the same or more than last year despite rising interest rates.Star Entertainment shares fell almost 2% today after the company released a trading update at its AGM outlining revenues have fallen 11% in Sydney from July to November 2022, giving an idea of the impact competitor Crown’s new Barangaroo casino has on Star’s performance in NSW.The winning stocks today were led by Virgin Money UK (ASX:VUK) climbing more than 10% after releasing full year results including a 43% increase in statutory profit before tax and an interest margin of 1.85%. Whitehaven Coal (ASX:WHC) soared almost 8% today and New Hope Corporation (ASX:NHC) also added more than 7% today.And the stocks that weighed on the market today were Block Inc (ASX:SQ2) tumbling 3.22%, De Grey Mining (ASX:DEG) closing down 2.34% and Inghams (ASX:ING) shedding 2.15%.The most traded stocks by Bell Direct clients were Fortescue Metals Group, Appen and Lake Resources.Taking a look at commodities, crude oil is trading flat at US$80.05/barrel, natural gas is down 3.2%, gold is up 0.3% at US$1743/ounce and iron ore is down just over 2% at US$97.50/tonne.The Aussie dollar has slightly strengthened today to buy 66.08 US cents, 55.95 British Pence, 93.78 Japanese Yen and 1 New Zealand dollar and 8 cents.RBA governor Philip Lowe will address the Annual Ceda dinner tonight and is poised to talk about price stability, the supply side and prosperity.

US equities closed the first session of the week in the red. The Dow Jones down 0.2% and the S&P500 down 0.4%, while the Nasdaq dropped a little over 1%. And this week is a short trading week on Wall Street due to the Thanksgiving holiday. Fears that China may again enforce COVID restrictions after reporting deaths from the virus, weighed on markets overnight, and sent energy stocks and oil prices lower.European markets also closed lower, as investors continue to assess inflationary pressures. The STOXX 600 closed flat, Germany’s DAX down 0.4%, the French CAC down just 0.2%, while in the UK the FTSE100 closed down just 0.1%.What to watch today:Despite the losses across overseas markets, the SPI futures are suggesting the Australian market will rise 0.4% at the open this morning.In economic data, the RBA Governor Phillip Lowe is set to give a speech at 6pm tonight.And in commodities, the oil price is steady after falling over 5% to its lowest level since January, after Saudi Arabia denied news of a potential oil output increase. The gold price continues to weaken, falling for the fourth straight session. While iron ore is trading more than 2% higher at US$99.50 per tonne, its highest level in eight weeks, and advancing 22% since the start of the month.Trading Idea:Bell Potter have initiated coverage on Cedar Woods Properties (ASX:CWP) with a Buy rating. CWP is a medium sized Australian property developer that operated in four Australian states, with around half of its operations in WA. The main business model is to buy land, seek approvals to develop, then either subdivide and sell the land, or build apartments and townhouses. Rising interest rates have had an impact on sentiment and the share price. Bell Potter price target on CWP is $5.40, and at the stock’s current share price of $4.04, this implies 33.7% share price growth in a year.

The local market rallied in the opening hour of trade before declining throughout the first trading session of the week to end the day down 0.18% as investors sharply sold out of materials, energy and information technology stocks today. Utilities stocks led the market gains, with the sector adding 1.77% at the closing bell today.Lake Resources (ASX:LKE) shares rallied today after the lithium developer announced it has resolved a dispute with earn-in partner Lilac Solutions over Lilac’s delivery of services at the company’s Kachi lithium project in Argentina.NIB Holdings (ASX:NHF) shares also jumped today after the company’s CEO Mark Fitzgibbon said the health insurer is starting to see an uptick in customers switching due to competitor Medibank’s privacy and data breach.The winning stocks for today’s session were AGL Energy (ASX:AGL) climbing 4.23%, Atlas Arteria (ASX:ALX) adding 3.76% and Whitehaven Coal (ASX:WHC) rallying almost 3.2%. And on the losing end, Nanosonics (ASX:NAN) tanked 12.23% today as brokers including Goldman Sachs responded negatively to the company’s recent trading update. Sayona Mining (ASX:SYA) fell 4.55% today and Novonix (ASX:NVX) ended the day down 4.5%.The most traded stocks by Bell Direct clients today were Fortescue Metals Group  (ASX:FMG) , APA Group (ASX:APA) and CSL (ASX:CSL)Commodities are still trading as a mixed bag this afternoon, with crude oil down 1.31% at US$79.06/barrel, gold is down just 0.2% at US$1746.56/ounce, while iron ore is up 2.05% at US$99.50/tonne. The decline in the price of oil impacted mining giants like Woodside today, with the oil and gas giant closing Monday’s session down 1.29%.The Aussie dollar is trading slightly weaker this afternoon, buying 66.57 US cents, 56.14 British Pence, 93.43 Japanese Yen and 1 New Zealand dollar and 8 cents.Asian equities had a tough start to the week today with markets closing lower amid a rise in COVID-related deaths and case numbers in China and Hong Kong prompting authorities to tighten restrictions in some areas of the region.

The local market closed 0.23% higher on Friday driven by a surge in materials stocks on the back of OZ Minerals (ASX:OZL) announcing it has received and intends to accept a revised takeover offer from BHP Group (ASX:BHP) for $28.25 per share, in a deal worth $9.6 billion. The consumer discretionary, real estate and energy sectors closed Friday’s session in the red.The best performing stocks on Friday were led by OZ Minerals (ASX:OZL) following the takeover update, Coronado Global Resources (ASX:CRN) added 3.54% and NIB Holdings (ASX:NHF) rounded out the top 3 winning stocks for the session, up 3.2% on Friday. Lovisa Holdings (ASX:LOV) led the losing end of the market on Friday, tumbling more than 7% after releasing a trading update despite the fashion jewellery company announcing  store sales for the first 19-weeks of FY23 are up 16.1% on FY22 YTD.Pinnacle Investment Management also fell almost 4.45%, and Corporate Travel Management lost 3.75% on Friday.The most traded stocks by Bell Direct clients on Friday were APA Group (ASX:APA), Westpac Banking Corporation (ASX:WBC) and James Hardie Industries (ASX:JHX).Overseas, Wall Street rallied to see out the last trading week despite US retail data out during the week alongside speeches by some policymakers still indicating the Fed’s hawkish approach remains the priority. Investors however may be slightly more confident that a Fed pivot will come sooner than expected and that rate cuts may be seen by around the end of next year. The Dow Jones industrials index ticked 0.6% higher at the closing bell on Friday, while the Nasdaq added just 0.01% and the S&P500 rallied 0.5%.European markets rebounded on Friday as investors responded to lower-than-expected consumer and wholesale data released last week, in signs that boost investor confidence that the U.S. Fed’s will have to ease the aggressive rate hike path soon. The STOXX600 added 1.1%, Germany’s DAX rallied 1.16%, the French CAC jumped 1.04% and, in the UK, the FTSE100 rose just over half a percent.What to watch today:Ahead of the local trading session on the ASX, the SPI futures are anticipating the market to open 0.33% higher amid signs inflation is beginning to cool.There is no local economic data being released today however investors will be awaiting RBA governor Philip Lowe’s speech tomorrow in hope of gauging any insight into the RBA’s rate hike movements over the coming months.On the commodities front this morning, crude oil is trading 1.91% lower at US$80.80 per barrel, gold is down 0.61% at US$1750 per ounce and iron ore is up 2.05% at US$99.50 per tonne.The Aussie dollar is starting the week slightly weaker at 66.59 US cents, 93.68 Japanese yen, 56.14 British Pence, and NZ$1.08.Trading Ideas: Trading Central has identified a bullish signal on Steadfast Group (ASX:SDF) following the formation of a pattern over a period of 12-days which is roughly the same amount of time the share price may rise from the close of $5.19 to the range of $5.59 to $5.69 according to standard principles of technical analysis.Trading Central has also identified a bullish signal on Universal Biosensors (ASX:UBI) following the formation of a pattern over a period of 37-days which is roughly the same amount of time the share price may rise from the close of $0.26 to the range of $0.32 to $0.34 according to standard principles of technical analysis.

The Aussie share market declined 0.31% this week (Mon-Thu), however there were some positives. The materials sector rose after China announced the easing of its COVID-zero goal, as well as a property rescue package.   In this week's wrap, Sophia covers:(0:12) Why mining stocks advanced this week(0:26) Whether Chinese steel mills can return to profit(1:20) The current outlook for iron ore prices(1:59) The best performing stocks on the ASX200(2:45) The most traded stocks & ETFs by Bell Direct clients (3:20) Three economic news items to watch out for

Rising yields sparked recession fears overnight, which saw US equities close in the red. The Dow Jones down 0.3%, the S&P500 down 0.6% and the Nasdaq down 0.7%. While stocks fell, bond yields jumped higher, after the Fed signalled the rate hikes will continue, as they aim to tame inflation. In Europe, investors digested geopolitical tensions and the UK budget. The UK finance minister Jeremy Hint announced his latest fiscal statement, which included billions of pounds worth of spending cuts and tax hikes. Also, global markets continue to watch the developments in Ukraine after a missile hit Polish territory. The STOXX600 closed down 0.4%, after fluctuating between marginal gains and losses in early trade. Germany’s DAX closed up 0.2%, while the FTSE100 closed flat and France’s CAC ended the session 0.5% lower. What to watch today:The Australian market is set to open flat this morning, according to the SPI futures. In commodities, The price of oil has dropped over 4% and is hovering around US$82 per barrel, extending losses from the previous session. Gold is also in the red foe the second straight session, after the US dollar was buoyed by stronger than expected US retail sales data. The data clouded the inflation outlook by indicating a need for more interest rate hikes. Iron ore is trading over 2% higher at US$99 per tonne, the highest in seven weeks, amid hopes of strong demand from China, which is of course a top consumer. The a2 Milk Company (ASX:A2M), Lendlease (ASX:LLC), NEXTDC (ASX:NXT) and Mirvac Group (ASX:MGR) are set to hold its AGM today. Stocks going ex-dividend today include Coronado Global Resources (ASX:CRN) and Orica (ASX:ORI).Trading Ideas:Bell Potter have upgraded their rating on the Australian Agricultural Company (ASX:AAC) from a Hold to a Buy, after the company reported H1 operating EBITDA ahead of Bell Potter’s expectations at $38.3 million. They say the company have an effective go to market strategy and cost controls and are in a position to develop the asset base and add value to the portfolio. Bell Potter have lowered their price target from $2.35 to $2.15, and at its current share price of $1.63, this implies 31.9% share price growth in a year. Trading Central have identified a bullish signal in Steadfast Group (ASX:SDF) indicating that the stock price may rise from the close of $5.19 to the range of $5.59 to $5.69 over 12 days according to the standard principles of technical analysis. 

The local market followed in the footsteps of Wall Street today, closing the second last trading session of the week down 0.2%, amid the release of unemployment data showing a decline in the country’s unemployment rate, which was a result vastly different to what economists’ were expecting. Consumer staples was the leading sector today, while the energy sector weighed down on the market.The big story of was Perpetual (ASX:PPT) shares falling 13% today, while Pendal (ASX:PDL) shares jumped more than 10% during the session, after the NSW Supreme Court ruled Perpetual could face costly penalties if it walks away from the planned transaction to buy out rival Pendal, in favour of pursuing a buyout of its own, by BPEA and Regal Partners. The court ordered that the ‘break fee’ of $23 million would not be an exclusive remedy for Perpetual to pay, if it walked away, and that Pendal could see orders to enforce Perpetual’s obligations to complete the scheme.The winning stocks today were Pendal (ASX:PDL), Webjet (ASX:WEB) and Fisher and Paykel (ASX:FPH). And on the losing end, Perpetual (ASX:PPT) declined the most, followed by New Hope Corporation (ASX:NHC) and Whitehaven Coal (ASX:WHC).The most traded stocks by Bell Direct clients today were National Australia Bank (ASX:NAB), Terracom (ASX:TER) and Argosy Minerals (ASX:AGY).Australia’s jobless rate declined 0.1% to 3.4% in October, the lowest level since the mid-1970s, defying economists’ expectations of an increase in unemployment. Around 32,000 jobs were added to the Australian economy in October and seasonally adjusted monthly hours worked increased by 2.3% reflecting fewer employed people than usual taking leave during October. Floods across NSW, Victoria and Tasmania saw more people working reduced hours though due to the bad weather events.On the commodities front, oil has dropped 1.5% and is currently trading at US$84 per barrel. Gold is also in the red at US$1,762 an ounce, while iron ore has jumped more than 2% to US$99 per tonne.And the Aussie dollar is buying 67 US cents, 56.93 British Pence, 93.57 Japanese Yen and NZ$1.09. 

Wall Street closed lower on Wednesday after US retail sales figures came in at 1.3% for October which was higher than expectations, after levelling off in September, indicating consumers are still spending despite interest rates being aggressively hiked month on month. The Dow Jones closed flat, the S&P500 fell 0.71%, and the Nasdaq ended the session down 1.51%. Yesterday, former US President Donald Trump also announced he will be running for the Republican presidential nomination in 2024, nearly 2-years after allegedly inspiring the deadly Capitol riot. The hotter than expected retail figures come despite Target warning of weaker consumer demand to come and that the department store giant had instilled a multi-billion-dollar cost-cutting plan which sent shares in the company down 13% on Wednesday.Over in Europe, markets also closed lower as geopolitical tensions rise in the wake of escalating tensions between Russia and Ukraine. The STOXX600 fell 1%, Germany’s DAX lost 1% and the French CAC shed half a percent. In the UK the FTSE100 also closed 0.25% lower on Wednesday.What to watch today:Ahead of the local trading day, the SPI futures are expecting the ASX to open Thursday’s session 0.14% lower.In commodities, crude oil is trading 1.40% lower at US$85.70 per barrel, gold is trading 0.3% lower at US$1773 per ounce, and iron ore is trading flat at US$97 per tonne.The Aussie dollar has weakened overnight to buy 67.33 US cents, 56.93 British pence, 93.87 Japanese yen and NZ$1.10.Investors will be awaiting the release of Australia’s unemployment rate data for October, which is released at 11:30am AEDT.Trading Ideas:Trading Central has identified a bullish signal on NEXTDC (ASX:NXT) following the formation of a pattern over a period of 26-days which is roughly the same amount of time the share price may rise from the close of $9.27 to the range of $10.10 - $10:30 according to standard principles of technical analysis.Bell Potter has maintained its Buy rating on Nufarm (ASX:NUF) and raised its price target from $6.75 to $7.15 due to the agricultural chemical company releasing strong FY22 results despite facing headwinds of deregistration’s in Europe and dry conditions across the Mediterranean and North America in the second half of FY22.

Investor concerns over Russia’s war with Ukraine escalating caused the sell-off on the ASX today, with the key index closing the midweek session 0.27% lower amid a Russian missile strike pounding Ukraine’s energy facilities and Poland with its biggest barrage of missiles yet, according to reports. The mining giants offset some of the sessions’ losses with BHP Group (ASX:BHP), Rio Tinto (ASX:RIO) and Fortescue Metals Group (ASX:FMG) rallying over 1% today on hopes that China’s property rescue plans will reignite demand for steel. The utilities and consumer discretionary sectors were the worst performing today. Oz Minerals (ASX:OZL) entered a trading halt today in relation to a potential change of control transaction. Back in August, BHP (ASX:BHP) made a takeover offer for $25 per share that Oz Minerals rejected on the grounds of ‘undervaluing’ the company, so today’s trading halt has the market guessing BHP could be back with a revised offer, however neither company has yet confirmed this is the case. The winning stocks for today’s session were led by Nufarm (ASX:NUF) lifting almost 9% after the agricultural chemical company released its full year results including a 24% increase in EBITDA to $447 million on revenue up 17% to $3.8 billion. Sandfire Resources (ASX:SFR) rallied 6.7% today and Whitehaven Coal (ASX:WHC) jumped 5.83%. On the losing end, Imugene (ASX:IMU) tumbled almost 10% today, while De Grey Mining (ASX:DEG) fell 9.2% and St Barbara (ASX:SBM) ended the day down just over 7%. The most traded stocks by Bell Direct clients today were Argosy Minerals (ASX:AGY), Core Lithium (ASX:CXO), and Lake Resources (ASX:LKE). On the commodities front today, crude oil is trading 0.84% lower at US$86.18 per barrel, gold is down 0.23% at US$1774 per ounce and iron ore is trading flat at US$97 per tonne. The Aussie Dollar is buying 67.58 US cents, 56.98 British Pence, 94.53 Japanese Yen and 1 New Zealand Dollar and 10 cents. Australia’s wage price index data released today showed the seasonally adjusted WPI rose 1% in the September quarter and 3.1% over the year, while the private sector rose 1.2% or double that of the public sector which rose 0.6%. Average private sector pay rises hit 4.3%, the highest quarterly growth in hourly wages recorded since March quarter 2012.

The US markets rebounded on Tuesday to close higher across the key indices following the release of US producer price index data that measures wholesale inflation, for October showing an increase of just 0.2% which was below market expectations and is another sign inflation is slowing in the region. The tech-heavy Nasdaq led the gains adding 1.27% on Tuesday, while the Dow Jones and S&P500 also each lifted 0.02% and 0.7% respectively. Over in the US it has been a turbulent time for technology stocks of late with interest rates rising meaning financing growth becomes more expensive. As a result, we have seen mass lay-offs from tech giants including Twitter cutting around 3700 jobs, Amazon reportedly releasing 10,000 employees, Stripe axing 14% of its staff and Meta cutting 11,000 jobs in the biggest tech layoff of 2022, so today’s rally on the Nasdaq will bring a brief relief for tech stocks. Over in Europe, markets advanced on the back of that US producer price index data being released, with the STOXX 600 adding 0.2%, while Germany’s DAX and the French CAC each added almost 0.5%. In the UK, the FTSE100 bucked the trend, closing the day down 0.21%, amid UK property data indicating new homebuyer enquiries plunged in October to the lowest level since the 2008 GFC, according to the latest RICS housing surveyors report for the last week, adding to further fears of a deep recession to come. What to watch today: Ahead of the local trading session the SPI futures are expecting the ASX to open just 0.04% higher on the back of the rally on Wall Street.In commodities, crude oil is trading slightly higher this morning, up 0.68% to US$86.45 per barrel, gold is trading mostly flat at US$1772 per ounce, natural gas is up 2.68%, and iron ore is continuing to surge, up 3.74% this morning at US$97 per tonne.There is no local economic data out today however investors will be tuning in to a number of key Federal Reserve speeches in attempt of gaining a glimpse at how aggressive the Fed’s will continue raising interest rates moving forward.The Aussie dollar has strengthened overnight to buy 67.75 US cents, 57 British Pence, 94.44 Japanese Yen and NZ$1.10. Trading Ideas:Trading Central has identified a bullish signal on Mach7 Technologies (ASX:M7T) following the formation of a pattern over a period of 18-days which is roughly the same amount of time the share price may rise from the close of $0.56 to the range of $0.64 to $0.66 according to standard principles of technical analysis.Trading Central has identified also identified a bullish signal on Magnis Energy Technologies (ASX:MNS) following the formation of a pattern over a period of 36-days which is roughly the same amount of time the share price may rise from the close of $0.42 to the range of $0.47 to $0.49 according to standard principles of technical analysis.

The local market extended its decline on Tuesday, closing the session down just 0.07% as investor confidence has been dampened in recent days by Fed officials warning that higher interest rate hikes are to be expected despite inflation in the US slowing. Lithium miners took a hit today on the back of a poor trading session on Monday for US lithium stocks despite the price of lithium remaining strong. The decline in lithium stocks today may be due to investors taking profits from the recent rally in lithium stocks, or the market moving away from higher risk stocks amid the expectation for higher interest rate hikes to come in the US despite inflation starting to cool. Core Lithium (ASX:CXO), Pilbara Minerals (ASX:PLS) and Allkem (ASX:AKE) each fell more than 8% on Tuesday. The technology sector rallied today, offsetting some of the losses weighing on the market in the REIT and materials sectors. The winning stocks of the session today were, Imugene (ASX:IMU) adding 7.7%, Incitec Pivot (ASX:IPL) rallying 5.88% and Elders (ASX:ELD) closing the session up 4.7%. On the losing end, Core Lithium (ASX:CXO) fell almost 16% today amid weakness among lithium stocks and on the back of Macquarie downgrading Core Lithium (ASX:CXO) to a neutral rating. Allkem (ASX:AKE) also lost 12.36% in the lithium sell-off and Sayona Mining (ASX:SYA) closed the day down 9.62%. The most traded stocks by Bell Direct clients today were Core Lithium (ASX:CXO), Pilbara Minerals (ASX:PLS) and MSL Solution (ASX:MSL), which rocketed 70% today after announcing it has received and accepted a takeover offer implying an equity value of $119 million. All eyes were on the RBA’s meeting minutes from November released today which outlined that the RBA is not ruling out further rate hikes or a pause, it is keeping its options open to address inflation and is not on a set rate hike path. On the commodities front today, crude oil is down 4.16% to US$85.175/barrel, natural gas is up 2.31% at US$6.07/MMbtu, coal is up 1.09% at US$330.35/ton, gold is trading down 0.05% at US$1770.94/ounce, and iron ore is up 3.74% at US$97/tonne. The Aussie dollar has strengthened to buy 66.96 US Cents, 56.77 British Pence, 94 Japanese Yen and 1 New Zealand Dollar and 10 cents.

US stocks ended the first session of the week lower, taking a pause from last week’s big rally. The Dow closed 0.6% lower, the S&P500 down 0.9% and the Nasdaq fell 1.1%. Fed Governor Christopher Waller suggested at a conference in Sydney yesterday, that the market may have overreacted to last week’s CPI reading and said that policymakers still had “a ways to go” before the hiking cycle comes to an end.European equities closed flat overnight, with the Stoxx 600 up just 0.1%, after struggling to break away from the flatline throughout the session.What to watch today:The Australian market is set to open lower, with the SPI futures suggesting a fall of 0.52% at the open this morning.In economic data, today at 11:30am AEDT, the RBA will release its minutes from its November meeting. This won’t have much influence over markets however, it will provide us with insights into the meeting when the central bank decided to raise the cash rate to 2.85%, marking its seventh straight rate hike. Note that the RBA had also added that it now saw inflation peaking around 8% this year, compared with its previous forecasts of 7.75%.As for share prices to keep watch of today: Incitec Pivot (ASX:IPL) and United Malt Group (ASX:UMG) both are set to release their earnings results today.AGMs today: AGL Energy (ASX:AGL), Allkem (ASX:AKE), Genworth Mortgage Insurance (ASX:GMA) and Lifestyle Communities (ASX:LIC).National Australia Bank (ASX:NAB) is set to go ex-dividend today, so this may see its share price fall as investors take their profits.Trading Ideas:Bell Potter maintain a Buy rating on Monash IVF Group (ASX:MVF), after the company’s AGM on Friday. MVF is tracking below Bell Potters H1 expectations, although the company has increased its market share in the key Australian markets over the first four months of the financial year. They have lowered their price target from $1.43 to $1.39, and at its current share price of $0.92, this implies 51.1% share price growth in a year.Trading Central have identified a bullish signal in Sayona Mining (ASX:SYA) indicating that the stock price may rise from the close of $0.26 to the range of $0.31 to $0.33 over 34 days, according to the standard principles of technical analysis.

The ASX slipped into the red in afternoon trade before closing  the first trading session of the week down 0.16%, weighed down by a sharp sell-off in industrials stocks. The materials sector rallied 3.4% today amid a surge for iron ore miners on the back of the price of iron ore surging 4.47% to US$93.50 per tonne overnight. Champion Iron (ASX:CIA) rose almost 13% and was the winning stock of today, while Fortescue Metals Group (ASX:FMG) added just over 10%, and BHP Group (ASX:BHP) lifted 4.56%. The other winning stocks to start the week were Core Lithium (ASX:CXO), which jumped 11.7% and Sims (ASX:SGM) which rose 6.9%.  The worst performing stocks today were led by Elders (ASX:ELD) plunging more than 23% after the Australian agribusiness released its full year results including operating cash flow down 28.5% to $113.7 million, a 35% jump in sales revenue to $3.445 billion and a 42% increase in underlying profit before tax of $223.5m. The company also increased its dividend by 33% on FY21 to 56cps. Shares in the company tanked today though after Elders CEO Mark Allison announced he would be retiring, bringing to an end his role as CEO after nearly 10-years, with his role as CEO ending on or before November 14, 2023. IPH (ASX:IPH) also dropped 6.56% today and Ramelius Resources (ASX:RMS) ended the session down 6.45%. Medibank’s (ASX:MPL) woes continued today with the health insurance provider revealing another 500 Medibank customers have had their medical records published to the dark web. Shares in Medibank fell 1.06% today. The most traded stocks by Bell Direct clients today were Core Lithium (ASX:CXO), Lake Resources (ASX:LKE) and Pilbara Minerals (ASX:PLS). There was no local economic data released today however investors will be awaiting the release of the RBA’s meeting minutes for November out tomorrow. In commodities, crude oil has retreated to trade just 0.15% higher at US$89.09 per barrel, gold is down 0.54% at US$1761 per ounce and iron ore is up 4.47% at US$93.50 per tonne. The Aussie dollar has slightly weakened to buy 66.75 US cents, 56.71 British Pence, 93.17 Japanese Yen and NZ$1.10.

The local market soared 2.8% on Friday following the release of US inflation data out late on Thursday that hit 7.7% for October, which indicates a slowing of economic growth in the US and prompted investors to believe that inflation has now peaked.Investors piled into technology stocks which have been sold-off sharply of late as the cost of borrowing financing increases with every interest rate hike, which impacts the growth outlook of tech companies, but with markets now believing inflation in the US has peaked, investors piled back into growth stocks on Friday sending the tech sector up almost 5% in the last trading session of the week.The best performing stocks on Friday were Megaport (ASX:MP1), which added just over 13.5%, Pinnacle Investment Management (ASX:PNI), which gained 12.5% and Netwealth Group (ASX:NWL), which rose 11.67%. On the other end of the market, the stocks that weighed on the market on Friday were Whitehaven Coal (ASX:WHC) losing almost 3.5%, Origin Energy (ASX:ORG) falling 3.2% and Computershare (ASX:CPU) closing the day down almost 3%.The most traded stocks by Bell Direct clients were BHP Group (ASX:BHP), Argosy Minerals (ASX:AGY) and Nickel Industries (ASX:NIC).Wall Street extended its rally into Friday with the key indices closing higher, buoyed by lower-than-expected inflation data released on Thursday indicating the Fed’s aggressive rate hikes to tackle the 40-year high inflation are starting to work. The Dow Jones added 0.1%, the S&P500 jumped 0.92% and the tech-heavy Nasdaq rose 1.88%.Over in Europe, markets notched their best weekly performance in nearly 8-months on Friday, driven by hopes of smaller rate hikes by the Federal Reserve in the US and on the easing of some COVID-19 restrictions in China. The STOXX600 added 0.1%, Germany’s DAX lifted 0.56%, and the French CAC rose 0.58%. In the UK, the FTSE100 fell 0.78% as the sterling rose on the back of a smaller-than-expected contraction in Britain’s economy in data out on Friday.What to watch today:Ahead of the local trading session, the SPI futures are expecting the local market to open 0.6% higher to start the new trading week.On the commodities front, crude oil is up 2.88% at US$88.96 per barrel, brent oil is up 2.52% at US$96.03 per barrel, gold is trading just under 1% higher at US$1771.08 per ounce and iron ore is up 4.47% at US$93.50 per tonne.The Aussie dollar has strengthened to buy 67.17 US cents, 56.71 British Pence, 93.03 Japanese Yen and 1 New Zealand Dollar and 10 cents.In economic data out today, there’s no local economic data out today, however investors will be keeping an eye out for the RBA meeting minutes for November released tomorrow.Trading Ideas: Trading Central has identified a bullish signal on Zip Co (ASX:ZIP) following the formation of a pattern over a period of 26-days which is roughly the same amount of time the share price may rise from the close of $0.74 to the range of $0.85 to $0.87 according to standard principles of technical analysis.Trading Central has also identified a bullish signal on QUBE Holdings (ASX:QUB) following the formation of a pattern over a period of 8-day which is roughly the same amount of time the share price may rise from the close of $2.77 to the range of $3.02-$3.08 according to standard principles of technical analysis.

The Aussie share market gained 1.04% this week (Mon-Thu), as investor sentiment was buoyed by recovering commodity prices, early reports of China easing its COVID-zero goal, and the anticipated results of the US midterm elections.  In this week's wrap, Grady covers:(0:36) The shift in investments from equities to cash or term deposits(1:07) The big banks' corporate earnings (4:12) The best performing stocks on the ASX200(5:40) The most traded stocks & ETFs by Bell Direct clients (6:10) Three economic news items to watch out for

US equities surged to session highs in the final hour of trading overnight, after October’s reading of consumer prices raised investor hopes that inflation has peaked. US CPI rose just 0.4% for the month and 7.7% from a year ago, its lowest annual increase since January. And core CPI, where volatile food and energy costs are excluded, increased 6.3% on an annual basis, which was also less than expected. The Dow Jones jumped more than 1,100 points or 3.4%. This was the Dow’s largest one-day increase since stocks came out of the pandemic bear market in 2020. The S&P500 closed 5.2% higher, which was its biggest one-day rally since April 2020. And the Nasdaq gained 6.7%. A really positive session overnight, as investors took the data as a sign the worst of high inflation may finally be behind us. What to watch today:The Australian market is set to finish the week nicely, with the SPI futures suggesting the market will rise 2.31% at the open this morning.  In commodities, oil is slightly higher and starting to regain the week’s losses, after losing more than 7% in the past three sessions. Gold has jumped almost 3% higher, after the inflation reading pushed the dollar higher. And iron ore is trading 0.6% higher at US$91.50 per tonne. Accent Group (ASX:AX1) is set to hold its AGM today. Trading Ideas:Bell Potter maintain a Buy rating on Pendal (ASX:PDL). They say the short-term driver of Pendal’s share price is almost certainly whether PDL will be acquired by Perpetual (ASX:PPT). And this is currently in balance. PPT management have rejected the approaches so far from Regal Partners (ASX:RPL), however PPT’s share price is just under $33, which implies the market expects a higher offer, from another company perhaps, with a good chance of success. Bell Potter say that financial logic would point to the $33 per share in cash offered by the consortium for PPT. However, this offer looks opportunistic and driven by sell off in PPT’s share price down to $23 in October. When comparing PPT’s historic enterprise value over EBITDA ratio, the $33 offered is not a massive premium in Bell Potter’s opinion. They have reduced their price target from $5.90 to $4.90 and at its current share price of $3.91, this implies 25.3% share price growth in a year. Trading Central have identified a bearish signal in JB Hi Fi (ASX:JBH) indicating that the stock price may fall from the close of $42.12 to the range of $35.25 to $36.75 over 28 days, according to the standard principles of technical analysis.

The local market’s green run came to an end on Thursday, with the key index closing 0.5% lower, as investor sentiment was dampened by the global sell-off from overnight on the back of tighter than expected results from the midterm US election. The ASX see-sawed throughout the session before closing lower, weighed down by sharp sell-offs in the energy, metals and mining and resources sectors. The utilities sector rocketed more than 13% today after Origin Energy (ASX:ORG), one of Australia’s leading energy companies, soared 34% after receiving a takeover offer worth $18.4 billion from Brookfield Asset Management and MidOcean Energy. The offer for $9 per share is the third revision of the initial offer the takeover partners first approached Origin with. Unsurprisingly, Origin Energy was the winning of today’s session.It was a big day on the M&A front with fund manager Perpetual (ASX:PPT), also gaining over 12% after announcing it has received an improved takeover offer from the consortium comprising BPEA and Regal Partners, for $33 per share, which has been rejected by Perpetual’s board as the company determines the offer ‘continues to materially undervalue the company’.Invictus Energy (ASX:IVZ) bucked the trend of the energy sector sell-off today, surging almost 150% after the upstream oil and gas company released a positive drilling update from its Mukuyu-1 well that is currently being drilled at the company’s 80%-owned SG 4571 licence in Zimbabwe’s Cabora Bassa Basin.The winning stocks from today’s session were led by Origin Energy (ASX:ORG), followed by Perpetual (ASX:PPT) adding 14.82%, and News Corp (ASX:NWS) rallying 8.72%. And on the losing end, investors sold out of Pendal Group (ASX:PDL) fell 10.93% amid Perpetual’s requested delay to its acquisition of Pendal. Xero (ASX:XRO) also fell 10.85% today after releasing a first half trading update that missed expectations, and Block Inc (ASX:SQ2) fell 5.7% today.The most traded stocks by Bell Direct clients today were Mineral Resources (ASX:MIN), New Hope Corporation (ASX:NHC) and Whitehaven Coal (ASX:WHC).The Aussie Dollar is buying 64.22 US cents, 56.66 British Pence, 93.85 Japanese Yen and 1 New Zealand Dollar and 9 cents.In economic data out today consumer inflation expectations data in Australia for November came in at an increase to 6% which beat the market forecast of a decline to 5.1%. Tonight, investors will be awaiting the release of core inflation data for October out of the US with the market expecting a decrease to 6.5% from 6.6% in September.

Wall Street ticked lower on Wednesday after the midterm election results came in tighter than expected. It was widely predicted that a “red wave” of Republican victories would be announced after Tuesday’s vote, however early results are showing the Democrats are performing better than expected in the poll, with the control of congress still hanging in the balance. The Dow Jones closed the midweek session 1.5% lower, the S&P500 fell 1.68% and the tech-heavy Nasdaq fell 2.12%.Over in Europe markets closed lower as global investors await the final outcome of the midterm US election. The STOXX600 closed 0.3% lower, Germany’s DAX ended Wednesday’s session down 0.16%, the French CAC fell 0.17% and in the UK the FTSE100 closed 0.14% lower on Wednesday. European markets are still being moved by earnings season with Germany’s second biggest bank Commerzbank reporting yesterday that its net profit dropped by 52% in the third quarter and the company maintained its full-year profit outlook despite soaring inflation in the country.What to watch today:Ahead of the local trading session the SPI futures are expecting the ASX to open 0.64% lower on the back of the global sell-off overnightOn the commodities front, it’s a red run across the board this morning with crude oil trading 3.44% lower at US$85.85 per barrel, brent oil is down just over 3% at US$92.48 per barrel, gold is down 0.34% at US$1706.74 and iron ore is up 2.82% at US$91 per tonne.Taking a look at economic data out today, it’s a data dump on Australia’s building front with building permits data for September out at 11:30am AEDT and private house approvals data also out just before lunchtime.The Aussie dollar has weakened to buy 64.31 US cents, 56.35 British pence, 94.26 Japanese yen and 1 New Zealand dollar and 9 cents.Trading Ideas:Trading Central has identified a bullish signal on The Lottery Corporation (ASX:TLC) following the formation of a pattern over a period of 35-days which is roughly the same amount of time the share price may rise from the close of $4.47 to the range of $4.78 to $4.86 according to standard principles of technical analysis.Trading Central has identified a bearish signal on Ridley Corporation (ASX:RIC) following the formation of a pattern over a period of 49-days which is roughly the same amount of time the share price may fall from the close of $2.14 to the range of $1.81 to $1.87 according to standard principles of technical analysis.

The following Wall Street closing higher again overnight before the midterm election results, the Australian market climbed for the fourth consecutive day. The rebound in metal prices lifted miners with gold stocks leading the group. St Barbara (ASX:SBM) and Regis Resources (ASX:RRL) soared higher, while energy stocks were dragged down by the fall in the oil price amid China demand worries. Whitehaven Coal (ASX:WHC) dropped more than 9%, weighing on other coal miners as well, as it cut full year guidance after being impacted by La Nina.  Sectors that have gained the most are materials, real estate and the financials, while the other 5 industry sectors closed in the red.  Miners boosted the market today. The best performers following St Barbara (ASX:SBM) and Regis Resources (ASX:RRL), were De Grey Mining (ASX:DEG), Evolution Mining (ASX:EVN) and Perseus Mining (ASX:PRU). The worst performing stocks were News Corp (ASX:NWS) and Whitehaven.  The most traded stocks by Bell Direct clients today were ANZ, Westpac (ASX:WBC) and PayGroup (ASX:PYG).  The Australian dollar is buying 65 US cents, 56.43 British Pence, 94.68 Japanese Yen and NZ$1.09.

The US markets extended the green run this week into Tuesday as investors anticipate the midterm election results, expecting Republicans to take back the House of Representatives and possibly win the Senate as well, which could impact government spending and regulation. The Dow Jones industrials index added 1.36%, the S&P500 gained 0.97%, and the tech-heavy Nasdaq rallied 0.85%.Over in Europe, markets closed higher as global investors looked to the US where the midterm elections are dominating headlines. The STOXX600 rallied to close Tuesday’s session 0.78% higher, while Germany’s DAX added 1.15% and the French CAC closed the session up 0.39%. In the UK, the FTSE100 added just 0.08% at the closing bell on Tuesday which was a recovery from a sell-off early in the session. The morning sell-off was sparked by British Retail Consortium figures showing UK retail sales growth slowed in October to 1.2% YoY compared to 1.8% in September which dampened investor sentiment.What to watch today:In commodities, it’s been a mixed week across the board with commodities moving with investor sentiment around China’s COVID zero goal updates. This morning, crude oil is trading 1.32% lower at US$90.57 per barrel, natural gas is down 10.54%, gold is trading up 2.32% at US$1712 per ounce, and Iron ore is down 0.56% at US$88.50 per tonne.Ahead of the local trading day the SPI futures are expecting the local market to open 0.73% higher on the back of a strong session on Wall Street so far on Tuesday.The Aussie dollar has strengthened to buy 64.5 US cents, 56.25 British Pence, 95.07 Japanese Yen and 1 New Zealand Dollar and 9 cents.On the economic data front today, China’s inflation rate for October will be announced today with the market expecting the inflation in the region to have slightly cooled in October to 2.6% from 2.8% in September. High inflation is bad for markets and stock markets are forward looking. Inflation expectations have already been priced into current share prices so the risk for investors is that the inflation number comes in higher than expected and, if it does, then that is likely to put further pressure on share prices. With so much commentary on inflation right now, it’s important for listeners to look at what has already been priced in and new information that has not because that is where we will see movement.Trading Ideas:Trading Central has identified a bullish signal on Telix Pharmaceuticals (ASX:TLX) following the formation of a pattern over a period of 7-days which is roughly the same amount of time the share price may rise from the close of $6.96 to the range of $8.10 to $8.40 according to standard principles of technical analysis.Trading Central has identified a bearish signal on Infomedia Limited (ASX:IFM) following the formation of a pattern over a period of 24-days which is roughly the same amount of time the share price may fall from the close of $1.23 to the range of $1.02 to $1.06 according to standard principles of technical analysis.

The ASX extended its green run into Tuesday, closing the session up 0.36% buoyed by a surge in utilities and consumer staples stocks, however strong gains were offset by a sharp sell-off in the energy sector amid declining commodity prices with crude oil down 0.5% at US$91.31 per barrel, natural gas down 3.35%, gold down 0.24% at US$1670.66 per ounce and iron ore down 0.56% at US$88.50 per tonne. Ingham’s (ASX:ING) shares fell more than 2% today after the poultry provider released its AGM presentation which outlined the challenging business conditions the company continues to face, including feed prices remaining elevated due to ‘tight global supply”. The Lottery Corporation (ASX:TLC) rallied today after the company reported overall group revenues rose 11% over the first four months of FY23. Magellan Financial Group (ASX:MFG) closed flat today after the company’s co-founder, Hamish Douglass, sold two-thirds of his shares in the company on Monday night. The share sale comes just days after MFG announced its funds under management increased to $51 billion in October. COP27 kicked off today, where global leaders meet in Glasgow this year for the 2-week long global climate summit which on the summit’s opening day has already had the UN warn leaders that the world is speeding down a ‘highway to hell’. The winning stocks for today’s session were Mineral Resources (ASX:MIN), Pilbara Minerals (ASX:PLS) and The a2 Milk Company (ASX:A2M). And the losing stocks today were led by James Hardie Industries (ASX:JHX) tanking more than 13.7% after the global building materials company announced first half results including the scrapping of the company’s dividend in favour of a share buyback program. Sims (ASX:SGM) lost almost 10% today and New Hope Corporation (ASX:NHC) fell 7.75%.The most traded stocks by Bell Direct clients today were Lake Resources (ASX:LKE), Pilbara Minerals (ASX:PLS) and WA1 Resources (ASX:WA1). In economic data out today, Westpac Consumer Confidence dropped to 78 for November from 83.7 in October as rising interest rates and surging inflation weigh on family finances and the economy. NAB’s Business Confidence data for October fell from 5 points in September to 0 in October, amid growing concerns over rising interest rates and an uncertain global outlook. The Australian dollar has strengthened to buy 64.74 US cents, 56.25 British Pence, 94.83 Japanese Yen, and 1 New Zealand Dollar and 9 cents.

US equities had a positive run overnight, ahead of the US midterm elections, as well as key inflation data on deck over the next few days. Tonight, the midterm election will determine which party will control Congress, which currently, the House is controlled by Democrats. And on the economic front, investors are waiting on the consumer price index report out on Thursday. Stocks hit session highs in afternoon trade. The Dow Jones gained more than 400 points or 1.48%, the S&P500 gained 1.1% and the Nasdaq closed 1% higher. In Europe the STOXX600 closed 0.3% higher, Germany’s DAX up 0.6%, the French CAC down 0.5% and in the UK the FTSE100 gained 0.9%. What to watch today:Following the strong sessions in overseas markets, the Australian market is set to rise 0.6% at the open this morning, if you’re going by the SPI futures. Watch the share price movements of James Hardie Industries (ASX:JHX) and SSR Mining (ASX:SSR), as both companies are set to release a quarterly report today.AGMs today include Bendigo and Adelaide Bank (ASX:BEN), Inghams Group (ASX:ING), Sims (ASX:SGM), and Lottery Corporation (ASX:TLC). In commodities, oil is hovering at levels last seen in August, as investors weigh tight supply again a negative outlook for demand. The gold price has now steadied, following a 3% rally to 4-week highs in the previous session, after government officials backed rumours of China’s reopening. And iron ore has jumped 4.7% higher, rebounding from the three-year low of US$81.50 it hit on November 1st. Iron ore is now trading at US$89, amid hopes that China will transition away from its zero-COVID policy. So watch iron ore miners today like Champion Iron (ASX:CIA), BHP (ASX:BHP), Rio Tinto (ASX:RIO), Fortescue Metals (ASX:FMG) or Mineral Resources (ASX:MIN). In economic data, today at 10:30am AEDT, Westpac will release its data on consumer confidence for November and NAB will release its data on business confidence for October. Trading Ideas:Bell Potter maintain a buy rating on United Malt Group (ASX:UMG) and have lowered their price target to $3.90. At its current share price of $3.10, this implies 25.8% share price growth in a year. Bell Potter also maintain a buy rating on EROAD (ASX:ERD) and lowered their price target to $2.50. At its current share price of $1.20, this implies over 100% share price growth in a year.

The local market started the week in positive territory, closing Monday’s session up 0.6% driven by a surge in materials stocks amid a broad surge in commodity prices including iron ore jumping 4.71% to US$89 per tonne. Oil prices rallied in early trade before sharply declining after China indicated a relaxation of its COVID zero goal is not being considered yet. Crude oil fell 1.4% to US$91.31 per barrel, while brent crude dropped 1.17% to US$97.42 per barrel. Medibank Private (ASX:MPL) confirmed today it will not pay the ransom asked to protect the stolen data of 9.7 million current and former customers, and the insurer also warned customers they may get a call from criminals or see their leaked data online. Investors punished Westpac (ASX:WBC) today after the big bank released FY22 results including a decline in full-year cash profit to $5.276 billion and a fall in earnings across its consumer and business divisions compared to the prior financial year. The big bank’s chief executive also warned Aussies will be impacted by higher rates including when borrowers’ low fixed-rate loans are rolled over. Coronado Global Resources (ASX:CRN) shares plunged today after the leading global producer of high-quality metallurgical coal announced its potential $9 billion+ merger discussions with Peabody Energy Corporation have ended. The winning stocks for today’s session were Capricorn Metals (ASX:CMM), which added 10% after the company reported a major Mineral Resource Estimate boost at its Mt Gibson Gold Project in WA. Evolution Mining (ASX:EVN) added just under 7% today and West African Resources (ASX:WAF) rallied 6.93%. On the losing end, Coronado Global Resources (ASX:CRN) lost over 7% today, WiseTech Global (ASX:WTC) fell almost 6% and Altium (ASX:ALU) shed almost 4.5%. The most traded stocks by Bell Direct clients today were Woodside Energy (ASX:WDS), Northern Star Resources (ASX:NST) and Syrah Resources (ASX:SRY). In economic data out today, China’s trade balance data for October was released showing exports for the month dropped 0.3% from the year earlier, while imports fell 0.7%, with both missing market expectations. For the month, China’s trade surplus fell to US$85.15 billion, while the market was expecting the trade surplus to hit US$95.95bn. The Australian dollar has slightly weakened today to buy 64.08 US cents, 57.01 British Pence, 94.64 Japanese Yen, and 1 New Zealand dollar and 9 cents.

The local market rebounded from Thursday’s sell-off on Friday to close the session 0.5% higher, boosted by a surge in energy stocks on the back of a rebound in the price of oil, up 4.30% to US$98.74 per barrel. Block Inc. (ASX:SQ2) was the leading stock on Friday, gaining 10.93% after the fintech company released a Q3 trading update that beat market expectations. Coronado Global Resources (ASX:CRN) extended its rally on Friday adding 8.61%, while Allkem (ASX:AKE) added just over 6% in the last trading session of the week. On the losing end, Ramelius Resources (ASX:RMS) fell 5.63% despite no price sensitive news out of the gold mining company on Friday. Blackmores (ASX:BKL) fell 3.72%, and Hub24 (ASX:HUB) lost 3.27% on Friday. The most traded stocks by Bell Direct clients on Friday were Pilbara Minerals (ASX:PLS), Allkem (ASX:AKE) and Woodside Energy (ASX:WDS). Over in the US, Wall Street rallied on Friday after nonfarm payrolls grew by 261,000 in October, which well exceeded market expectations of an increase between 190,000 - 205,000. The unemployment rate in the US increased to 3.7% with the biggest job gainers by industry including health care, professional and technical services and leisure and hospitality. Average hourly earnings in the US also rose 0.45 for the month and were up 4.7% from a year ago. The Dow Jones added 1.26%, the Nasdaq rose 1.28% and the S&P500 jumped 1.36% on Friday. Pfizer shares jumped 1.4% after the biotech company announced it has commenced an early-stage study of a combined COVID-19 and flu vaccine. Over in Europe, the STOXX600 closed 1.9% higher on Friday after a big week of corporate earnings results. German sportswear brand Adidas jumped 20% on Friday to top the STOXX600 after announcing new collaborations following its split from artist Kanye West. Germany’s DAX added 2.51%, the French CAC rose 2.77% and in the UK the FTSE100 added 1.03%. What to watch today:The ASX is expected to rise 1.32% on the back of the rally on Wall Street that ended last week.In economic data today, China’s trade balance data for October is out today with the market expecting an increase in China’s trade surplus to $95.95 billion from $84.74 billion in September. Local investors will be keeping a close eye on local data out tomorrow in terms of Westpac Consumer Confidence data for November and NAB Business Confidence data for October out tomorrow.In commodities, it’s a green run to start the week with crude oil up 5.04% at US$92.61 per barrel, brent crude is up 4.30% at US$98.74 per barrel, natural gas is soaring 8.3%, gold is up 3.15% at US$1680.54 per ounce and iron ore is up 4.71% at US$89 per tonne.The Aussie dollar has strengthened to buy 64.64 US cents, 57 British Pence, 94.58 Japanese Yen and 1 New Zealand dollar and 9 cents. Trading Ideas: Trading Central has identified a bullish signal on Strandline Resources (ASX:STA) following the formation of a pattern over a period of 35-days which is roughly the same amount of time the share price may rise from the close of $0.43 per share to the range of $0.58 to $0.62 per share according to standard principles of technical analysis.Trading Central has also identified aa bearish signal on JB Hi-Fi (ASX:JBH) following the formation of a pattern over a period of 24-days which is roughly the same amount of time the share price may fall from the close of $42.50 to the range of $35.25 to $36.50 according to standard principles of technical analysis.

The Aussie share market gained 1.06% this week (Mon-Thu) despite the US Federal Reserve maintaining its hawkish approach to tackling inflation and China’s slowing factory activity. In this week's wrap, Grady covers:(0:11) Why iron ore entered freefall mode this week(2:32) China's GDP forecasts(3:40) The best performing stocks on the ASX200(4:42) The most traded stocks & ETFs by Bell Direct clients (5:20) Three economic news items to watch out for

US markets closed sharply lower again on Thursday after Fed Chair Jerome Powell said that hopes for a policy pivot were ‘premature’ after the central bank delivered a fourth consecutive 75-basis point rate hike on Wednesday. The S&P500 fell 1.1%, the Dow Jones lost 0.5% and the tech-heavy Nasdaq took the biggest hit, closing the session down 1.7%. Despite the tech sell-off, shares in creative marketplace Etsy rallied 15% on Thursday after the company released quarterly earnings results that beat market expectations. US investors now shift focus to the important jobs data out today, with the market expecting an increase of 190,000 jobs to payrolls in October. Should the figures come in at 190,000 it would indicate the tight labour market in the US remains as demand of jobs continues to well outweigh supply of available workers across the nation.Over in the UK, investor sentiment was also dampened by the Bank of England following in the US footsteps by also raising the UK’s interest rate 75-basis points yesterday. Despite the rate hike, the FTSE100 rose 0.62% on Thursday. In Europe, the sell-off from Wednesday continued with Germany’s DAX falling almost 1%, the French CAC dropping 0.54% and the STOXX600 closing down 0.93%.What to watch today:Ahead of the local trading session, the SPI futures are anticipating the ASX to open 0.35% lower on the back of the Wall Street sell-off overnight.In commodities this morning, crude oil is trading 2.05% lower this morning at US$88.15 per barrel, brent oil is trading 1.79% lower at US$94.45 per barrel, gold is also trading 0.29% lower at US$1630.10 per ounce and iron ore is flat at US$81.50 per tonne.The Aussie dollar has weakened overnight to buy 62.94 U.S. cents, 55.91 British Pence, 93.33 Japanese Yen and 1 New Zealand dollar and 9 cents.Trading Ideas: Trading Central has identified a bullish signal on Galan Lithium (ASX:GLN) following the formation of a pattern over a period of 8-days which is roughly the same amount of time the share price may rise from the close of $1.61 to the range of $2.04 to $2.14 according to standard principles of technical analysis.Trading Central has also identified a bearish signal on Bendigo and Adelaide Bank (ASX:BEN) following the formation of a pattern over a period of 23-days which is roughly the same amount of time the share price may fall from the close of $8.99 to the range of $7.40 to $7.70 according to standard principles of technical analysis.

The local market followed in the footsteps of global markets following the Fed’s latest 75-basis point rate hike announced yesterday, with the ASX closing Thursday’s session down 1.84% as a sharp sell-off in materials stocks weighed on the key index. Every sector aside from communications services stocks ended the session in the red.The story of the session today was shares in Australian investment fund and trustee group Perpetual (ASX:PPT) lifting more than 8% after the company announced it has received and rejected a takeover offer for $30 per share from a consortium of BPEA Private Equity and fund manager Regal Partners. Woolworths (ASX:WOW) released first quarter results this morning including sales up 1.8% to $16.36 billion, however online sales tumbled 14.5% as Australians cycled out of lockdowns in the post-pandemic era. The supermarket giant also revealed average Australian food prices increased 7.3% on the PCP, with the company unsure of how much of this relates to the cost-of-living pressures compared to COVID-19 normalisation. The a2 Milk Company (ASX:A2M) also made waves today announcing it has been granted temporary access to sell its a2 Platinum infant formula in the US until 6th January 2023, as the country continues facing a significant baby formula shortage crisis following the contamination scare back in February.The winning stocks today were Perpetual (ASX:PPT) after receiving and rejecting a takeover bid, New Hope Corporation (ASX:NHC) and Downer EDI (ASX:DOW). On the losing end, Domino’s Pizza (ASX:DMP) tanked almost 12% after the pizza giant released a disappointing trading update at its AGM. Pendal Group (ASX:PDL) shares fell 10.7% and Lendlease (ASX:LLC) lost 8.73% today.The most traded stocks by Bell Direct clients today were the BetaShares Strong Bear Hedge Fund (ASX:BBOZ), Norfolk Metals (ASX:NFL) as the gold and uranium explorer soared more than 125% today after announcing its maiden drill test intersected native copper and sulphide mineralisation at the Roger River project. Bell Direct clients also traded BHP Group (ASX:BHP) and Rio Tinto (ASX:RIO) today.Australia’s trade balance data for September released today indicated the country’s trade surplus surged to a three-month high of $12.44bn for the month, well exceeding market expectations, and showing a recovery in the country’s exports, driven by LNG and metal ore exports rising 19.5% and 8.7% respectively.On the commodities front, brent oil is down 0.7% at US$95.50 per barrel, coal is up 0.56% at US$361 per tonne, gold is up 0.14% at US$1637 per ounce and iron ore is flat at US$81.50 per tonne.The Australian dollar has weakened to buy 63.5 US cents, 55.91 British Pence, 93.76 Japanese Yen, and 1 New Zealand dollar and 9 cents.

The US markets were sharply sold off across the key indices on Wednesday after the Federal Reserve moved to raise the country’s cash rate by 75-basis points for a fourth straight month, in a bid to tackle the nation’s 40-year high inflation. Federal Chair Jerome Powell said there were ‘no grounds for complacency’ but also said the chances of the US economy achieving a ‘soft landing’ and avoiding recession as it fights off inflation have ‘narrowed’. The Dow Jones industrials index fell 1.55%, the S&P500 shed 2.5% and the tech-heavy Nasdaq plunged 3.36%. Powell also indicated the Fed expects to raise interest rates to 4.4% by the end of this year. Tech stocks tumbled on Wednesday, with Alphabet, Apple and Microsoft each slumping more than 3%. Trading volumes surged on Wednesday after the Fed handed down its latest interest rate hike with FactSet data showing volume was fairly muted ahead of the decision, with the widely followed SPDR S&P500 ETF which tracks the benchmark index, traded about 100.3m shares with roughly 20 minutes left in the session. The midweek global sell-off extended into Europe with Germany’s DAX falling 0.61%, the French CAC losing 0.81% and, in the UK, the FTSE100 closed 0.58% lower, as investors focus on the Fed’s aggressive rate hike moves. What to watch today:Ahead of the local trading session the SPI futures are expecting the ASX to open 1.59% lower amid the global market sell-off overnight.In commodities, it’s a mixed bag this morning with Brent crude oil trading 0.79% higher at US$95.40 per barrel, while gold is down 0.64% at US$1,637 per ounce, and iron ore is down 0.61% at US$81.50 per tonne. The Aussie dollar has weakened overnight to buy 63.55 US cents, 55.91 British Pence, 93.90 Japanese yen and 1 dollar and 9 New Zealand cents.Australia’s trade balance data will be released at 11:30am AEDT today, with the market expecting a rebound in trade surplus to $8.85 billion. Trading Ideas:Trading Central has identified a bullish signal on Bellevue Gold (ASX:BGL) following the formation of a pattern over a period of 40-days which is roughly the same amount of time the share price may rise from the close of $0.77 to the range of $0.91 - $0.95 according to standard principles of technical analysis.Trading Central has also identified a bullish signal on Energy Resources (ASX:ERA) of Australia following the formation of a pattern over a period of 38-days which is roughly the same amount of time the share price may rise from the close of $0.22 to the range of $0.26 - $0.28 according to standard principles of technical analysis.

The local market extended its rally into the midweek session, closing the day up just 0.14%, buoyed by the materials sector jumping 1.13% while real estate stocks were sharply sold-off on the back of the RBA’s 0.25% interest rate hike announcement. A day after the RBA continued its dovish approach to tackling the country’s inflation by announcing another 25-basis point rate hike, CBA has announced its variable home loan interest rate will increase by 0.25%, passing the full RBA rate hike onto customers. Shares in the big bank rose 0.15% today following the announcement.New data released out of the US indicating crude oil inventories are declining, signal further signs of demand-driven market tightness which fuelled the price of crude oil to jump 1.25% today to US$89.5 per barrel. The new data also sparked a rally for oil giants Woodside Energy (ASX:WDS) and Santos (ASX:STO) today, each gaining 1.5% and 0.6% respectively. The energy sector regained momentum today after closing lower yesterday, on the back of the news about the declining oil stockpile in the US.The story of the session today was global market-leading packaging company Amcor (ASX:AMC) falling 4.35% despite releasing its quarterly update including a 9% increase in revenue to US$3.7bn, and net income rising 15% to US$232m. The packaging company also reported price rises totalling US$400m over the three months to pass on the increase in raw materials to customers.Taking a look at the stocks that led the market gains today, Coronado Global Resources (ASX:CRN) jumped 8.55% after Morgans retailed its ‘add’ rating on the coal miner and increased its price target on CRN to $2.40, noting better than expected revenue and earnings during the last quarter as the reason. Lake Resources (ASX:LKE) lifted 5.2% today following the release of a positive update on the company’s Kachi project in Argentina. Imugene (ASX:IMU) also added 5% today, to round out the top three winning stocks of the session. And on the losing end of the market, Domino’s Pizza (ASX:DMP) fell 5.8% today, Cromwell Property Group (ASX:CMW) lost 5.5% and Amcor (ASX:AMC) fell 4.4%.The most traded stocks by Bell Direct clients today were Seven Group (ASX:SVW), Boral (ASX:BLD) and the Commonwealth Bank of Australia (ASX:CBA).Today was a big day for housing data in Australia with the release of building permits for September showing a 5.8% decline for the month which was lower than the market was expecting, while home loans for September fell 9.3% which is more than triple the amount the market was expecting.  On the commodities front today, gold is trading 0.2% higher at US$1,650.85 per ounce, iron ore is down 0.6% at US$81.50 per tonne, and lithium carbonate continues rising to new records, up 2.2% to 564,500 Chinese Yuan per tonne.The Australian dollar is buying 64 US cents, 55.7 British Pence, 94.71 Japanese Yen and 1 New Zealand Dollar and 9 cents.

The market wasn’t too fazed by the RBA’s 25 basis point rate hike yesterday, as the ASX rallied 1.65% higher. All industry sectors closed with gains, with Materials, utilities and real estate in the lead. Biotech company Imugene (ASX:IMU) was the best performing stock following a clinical trial update, with IMU gaining 11.4% by the close of trade. Nickel Industries (ASX:NIC), United Malt Group (ASX:UMG) and GrainCorp (ASX:GNC) also closed higher. The most traded stocks by Bell Direct clients yesterday were Commonwealth Bank (ASX:CBA), Northern Star Resources (ASX:NST) and Telstra (ASX:TLS). US equities closed in the red overnight, as investors await the Federal Reserve’s meeting on Thursday. The Dow Jones closed 0.2% lower, the S&P500 down 0.4% and the Nasdaq down 0.9%. What to watch today:The futures are suggesting the Australian market will open flat this morning, as investors wait for the Fed’s decision tomorrow morning. In commodities, the price of oil has rebounded and is currently trading 2.2% higher as a sharp depreciation of the US dollar and tight global supplies sparked some dip-buying. Gold is trading 0.9% higher as bond yields retreated, while iron ore has fallen 2.4% extending its decline and hitting its lowest level since April 2020. Watch the following stocks share price movements today, as these companies are set to release some announcements. Amcor (ASX:AMC) will release its quarterly earnings today and Goodman Group (ASX:GMG) will also deliver a quarterly report. Domino’s Pizza (ASX:DMP) is set to hold its AGM today. Event Hospitality and Entertainment (ASX:EVT) is set to go ex-dividend today, so this may see its share price fall as investors take their profits. Trading Ideas:Bell Potter maintain a Speculative Buy rating on Cluey (ASX:CLU) following the release of the company’s quarterly update, with group key metrics broadly in-line with Bell Potter’s expectations. They have lowered their 12-month valuation from $1.10 to $0.90, and at CLU’s current share price of $0.50, this implies 78.2% share price growth in a year. And Trading Central have identified a bullish signal in Qantas (ASX:QAN) indicating that the stock price may rise from the close of $6.00 to the range of $6.75 to $6.90 over 9 days, according to the standard principles of technical analysis. 

 US equities closed lower overnight, however the Dow Jones still posted the best month since 1976. Markets made an impressive comeback in October with the Dow Jones rising 14% for the month, as investor bet on the banks and more traditional companies. The S&P500 is up 8% for the month, while the Nasdaq underperformed the Dow and the S&P, gaining 4% for October. Overnight, the Dow Jones fell 0.4%, the S&P500 fell 0.8% and the Nasdaq dropped 1%.  European markets closed higher despite inflation and GDP coming in overnight, painting a bleak picture. Eurozone inflation hit a record high of 10.7%, the highest ever monthly reading. Prices are increasing, particularly energy and food over the last year. The increases have been accentuated by Russia’s invasion of Ukraine in late February.  What to watch today:The Australian market is set to open higher. The SPI futures are suggesting a 0.15% rise at the open this morning, ahead of the RBA’s interest rate decision today. The RBA is expected to list the cash rate by 25 basis points to 2.85%. The announcement will be at 1:30pm AEDT. In commodities: Oil has dropped 1.6% with fears of weak oil demand, particularly in China. Gold is trading 0.5% lower, continuing a recent decline ahead of the US Fed’s meeting on Thursday. Iron ore has crashed 6%, training at US$84 per tonne, the lowest since May 2020, as recession fears and expectations of lower demand continued to pressure prices. Chinese iron ore imports from January to September are 2.3% lowered compared to last year. Supply pressures are also lower as Covid cases decrease, easing chances of lockdowns in production hubs. Trading Ideas: Bell Potter maintain a Buy rating on Coronado Global Resources (ASX:CRN) and have lowered their price target to $2.10. At CRN’s current share price of $1.86, this implies 12.9% share price growth in a year. Trading Central have identified a bullish signal in Goodman Group (ASX:GMG) indicating that the stock price may rise from the close of $17 to the range of $18.80 to $19.20 over 23 days, according to the standard principles of technical analysis. 

The local market snapped a four-session winning streak on Friday, to close 0.87% lower as investors sharply sold off 4% amid a sharp decline in commodity prices, including iron ore tumbling 5.6%. BrainChip (ASX:BRN) was the most sold-off stock on Friday, with the world-leading AI on-chip processing and learning technology company tanking 21.2% after releasing a Q3 update, outlining that the $1.5 billion company generated cash receipts of just $118,000 and an operating loss and operating cash outflow of $3.8 million for the quarter. Macquarie (ASX:MQG) shares were virtually unchanged at the closing bell on Friday despite the investment bank releasing strong half-year results including net operating income up 11% to $8.641 billion, profit after tax rising 13% to $2.305 billion and an interim dividend rise of 10% to $3 per share. Total operating expenses also rose though by 13% to $2.305 billion. The most traded stocks by Bell Direct clients on Friday were BHP Group (ASX:BHP), BrainChip (ASX:BRN) and Lake Resources (ASX:LKE). Overseas on Friday, the US market ended higher after a turbulent week, following the release of Apple’s earnings report that boosted the tech-heavy Nasdaq higher to lead the gains on Wall St. The Dow Jones industrial index added 2.6%, the Nasdaq rose 2.87% and the S&P500 lifted 2.46% on the last trading session of the week. Investor sentiment was also boosted on Friday – investors are optimistic that the Fed may indicate this week that it is preparing to pivot toward a slower pace of monetary tightening. In Europe, markets closed mixed after the European Central Bank raised its interest rate by 75-basis points, alongside the release of a number of company earnings reports. The Stoxx 600 closed up just 0.1% while Germany’s DAX added 0.24% and the French CAC climbed 0.27%, but the UK’s FTSE100 fell almost 0.4%. Shell shares fell more than 1.5% on Friday despite the oil and gas giant releasing third quarter results on Thursday including quarterly profits more than doubling from the same period a year earlier. What to watch today:The ASX is set to open 1.36% higher, following the strong rally on Wall Street that ended the last trading week higher.In commodities this morning, crude oil is trading 0.7% lower at US$96.31 per barrel, gold is trading 1% lower at US$1,644 per ounce, iron ore is down 5.6% at US$84 per tonne and gas is trading down 5.8% at US$2.84 per gallon.There is no local economic data released today, however local investors will be keenly awaiting the release of the RBA’s interest rate decision out tomorrow at 1:30pm AEDT with the market expecting another rise of 0.25% taking the nation’s cash rate to 2.85%. Trading Ideas:Trading Central has identified a bullish signal on Auckland International Airport (ASX:AIA) following the formation of a pattern over a period of 27 days which is roughly the same amount of time the share price may rise from the close of $6.82 to the range of $7.13 to $7.21 according to standard principles of technical analysis.Trading Central has also identified a bearish signal on Sigma Healthcare (ASX:SIG) following the formation of a pattern over a period of 34 days which is roughly the same amount of time the share price may fall from the close of $0.65 to the range of $0.53 to $0.55 according to standard principles of technical analysis.

The Aussie share market rallied 2.52% this week (Mon-Thu). The real estate sector soared 5.56%, while consumer staples was the only sector to end the week lower.     In this week's wrap, Grady covers:(0:36) Bell Potter's view on the Federal Budget's spending allocations(2:44) What to look out for in company results(3:13) How the REIT sector performed this week(3:22) The best performing stocks on the ASX200(4:43) The most traded stocks & ETFs by Bell Direct clients (5:10) Two economic news items to watch out for 

US equities closed mixed overnight after new data showed third-quarter GDP grew faster than expected, encouraging investors to buy stocks linked to the health of the economy. The US economy grew at a 2.6% annualised pace for the period, against the Dow Jones estimate for 2.3% growth. The Dow closed almost 200 points higher, while the S&P500 closed 0.6% lower. The Nasdaq also closed lower, down 1.6%, weighed down by Meta. Meta reported weak fourth-quarter forecast and disappointing third-quarter earnings, which saw its share price tumble 25%. What to watch today:The SPI futures are suggesting the Australian market will drop 0.38% at the open this morning, following the mixed session in New York. In commodities, the oil price is has jumped, underpinned by record US crude exports data. The US exported a record amount of crude and fuel last week, with total petroleum shipments reaching 11.4 million barrels a day. This is even as fuel inventories hit seasonal lows, adding to concerns about tight supply. So keep watch of energy shares today such as Woodside (ASX:WDS) and Beach Energy (ASX:BPT). Meanwhile gold is hovering near the highest levels in two weeks, as the US dollar and Treasury yields retreated, while iron ore is trading in the red, at its lowest in 22 months, as expectations of lower demand continue to put pressure on prices. Macquarie Group (ASX:MQG) will be in focus today, as the investment bank is set to release its half year results. Goldman Sachs expect to MQG to report a cash NPAT of $2,183 million, which is higher than market consensus estimates of $2,157 million. De Grey Mining (ASX:DEG) and ResMed (ASX:RMD) will each be releasing a quarterly report today. Trading Ideas:Bell Potter maintain a Buy rating on Regis Resources (ASX:RRL) after the company gave a quarterly production update yesterday. Bell Potter have lowered their price target to $2.68, and at its current share price of $1.56 this implies 71.8 share price growth in a year. Trading Central have identified a bullish signal in Lynas Rare Earths (ASX:LYC) indicating that the stock price may rise from the close of $8.34 to the range of $9.05 to $9.25 over 30 days according to the standard principles of technical analysis. 

The local market’s rally extended into Thursday, with the key index closing 0.5% higher in its best session in 6-weeks, boosted by a surge in energy stocks. An array of corporate earnings results were released today including ANZ (ASX:ANZ), which beat expectations but investors sharply sold out amid uncertain outlook for the year ahead and the increase of the bank’s provision for doubtful debts, and Reece which investors piled into after the company released a Q1 trading update outlining sales revenue jumped 28.8% to $2.3 billion boosted by inflation. Australian Clinical Labs (ASX:ACL) is the latest company to report a cyber-attack that happened back in February, whereby the health records and credit card information of about 223,000 patients and staff in its Medilab Pathology business were stolen and posted on the dark web. Shares in the company plunged more than 5% today. While Weebit Nano (ASX:WBT) surged nearly 30% today after announcing it has successfully completed full technology qualification of its Resistive Random-Access Memory (ReRam Module) manufactured by its R&D partner CEA-Leti, which is a key step that must be completed for every semiconductor product on each new target process.The winning stocks for today’s session were Ramelius Resources (ASX:RMS) adding 8.4% a day after the gold miner reaffirmed production guidance for FY23, Sandfire Resources (ASX:SFR) lifting 7% and Regis Resources (ASX:RRL) ending the day up 6.85%. On the losing end of the market, Iluka Resources (ASX:ILU) took the biggest hit today, falling 6.31% despite no price sensitive news released by the company today, Core Lithium (ASX:CXO) fell 5.15% today and Pinnacle Investment Management (ASX:PNI) lost 3.35% today. The most traded stocks by Bell Direct clients today were Lake Resources (ASX:LKE), Commonwealth Bank of Australia (ASX:CBA) and WA1 Resources (ASX:WA1). The Australian dollar is trading higher again this afternoon against the green back with 1 Aussie dollar buying 64.82 US cents, 55.90 British Pence, 94.56 Japanese Yen and 1 New Zealand Dollar and 11 Cents. Following Australia’s inflation rate hitting a 32-year high for the September quarter of 7.3%, investors will be awaiting the release of the RBA’s latest cash rate hike next Tuesday when the central bank next meets.

The US markets closed mixed on Wednesday with the Dow Jones industrials index adding 0.05%, while the S&P500 fell almost three quarters of a percent and the tech-heavy Nasdaq tumbled more than 2%, weighed down by Alphabet. Google parent company Alphabet had its worse session since 2020 yesterday after the tech giant released third quarter earnings on Tuesday that missed analysts’ expectations on both top and bottom lines. Investor sentiment was hit again on Wednesday after the earnings report out of Alphabet missed expectations which bucks the trend in recent days of strong company earnings reports for the third quarter, while Microsoft highlighted the impact the Fed and consequently the surging dollar had on the economy. Sentiment was briefly boosted early in the session by the Bank of Canada releasing a lower-than-expected rate hike for October amid fears of a recession, but that wore off in afternoon trade as investors don’t necessarily see that move as a sign the Fed’s will follow suit.  Over in Europe, markets closed higher amid strong earnings reports out of some European companies including Deutsche Bank and Mercedes Benz. Germany’s DAX closed the midweek session up 1.09% while the French CAC rallied 0.41%. The European Central Bank will also meet on Thursday where it is widely expected to raise the region’s cash rate by 75-basis points. The UK’s FTSE100 also rallied, adding 0.61% on Wednesday. What to watch today:Stocks going ex-dividend today include Bank of Queensland (ASX:BOQ) and Tribune Resources (ASX:TBR). If you’ve been considering these stocks it might be worth buying in today as stocks going ex-dividend generally trade lower on the ex-dividend date.On the commodities front, brent crude oil is trading 2.38% higher at US$95.75 per barrel, gold is up 0.7% at US$1664.07 per ounce and iron ore is down almost 1.6% to US$94 per tonne.The Aussie dollar has strengthened to buy 64.93 U.S. cents, 95.01 Japanese Yen, 56.37 British Pence and 1 New Zealand dollar and 11 cents.The SPI futures are expecting the ASX to open 0.38% higher. Trading Ideas: Trading Central has identified a bullish signal on Flight Centre Travel Group (ASX:FLT) following the formation of a pattern over a period of 23-days which is roughly the same amount of time the share price may rise from the close of $15.85 to the range of $17-$17.30 according to standard principles of technical analysis.Trading Central has also identified a bearish signal on BlueScope Steel (ASX:BSL) following the formation of a pattern over a period of 95-days which is roughly the same amount of time the share price may fall from the close of $15.70 to the range of $12.30-$13.00 according to standard principles of technical analysis.

The ASX200 closed the session 0.2% higher today, with real estate and utilities in the lead, each rallying more than 2% higher. Meanwhile, consumer staples and energy were hit the hardest.  Eight of the eleven industry sectors close in the green, despite key inflation data being released today. Australia’s annual inflation rate has risen to 7.3% in the last 12 months to September, the highest reading since 1990. On a quarterly basis, the consumer price index rose 1.8% in the September quarter. This is due to higher prices for new dwelling construction, fuel and food.  Looking at the ASX200 leaderboard today, Costa Group (ASX:CGC) was the best performing stock, advancing more than 10%, after a private equity firm acquired a 14% stake in the company. Other top performers were G.U.D Holdings (ASX:GUD), Ramelius Resources (ASX:RMS) and Nufarm (ASX:NUF).  Medibank (ASX:MPL) declined the most today, its share price tumbling more than 18%, after the company announced all of their customers’ personal data has been compromised by a cyber attacked. Meanwhile, mining companies Whitehaven Coal (ASX:WHC), Pilbara Minerals (ASX:PLS) and New Hope Corporation (ASX:NHC) are also in the red.  The most traded stocks by Bell Direct clients today were WA1 Resources (ASX:WA1), ELMO Software (ASX:ELO) and Whitehaven (ASX:WHC).  Lastly, the Australian dollar is buying 64 US cents, 56.58 British Pence, 94.92 Japanese Yen and $1.12 New Zealand. 

Wall Street extended its advance overnight, closing higher for the third consecutive day. The Dow gained 1.1% or 337 points. The S&P500 advanced 1.6%, and the Nasdaq advanced 2.2%, ahead of earnings releases from some big tech names. After the closing bell both Microsoft and Alphabet reported earnings that fell short of expectations. And later in the week, Amazon, Apple and Meta Platforms will report earnings. Also, a decline in bond yields contributed to the latest gains, as the yield on the 10-year Treasury note was last down about 15 basis points. European equities also had a positive run. Tech stocks were up 4%, while oil and gas stocks and bank stocks were the only sectors to end the session in negative territory. The Stoxx 600 closed 1.4% higher. What to watch today:The SPI futures are suggesting the Australian market will rise 0.82% at the open this morning. Last night the government handed down the Federal Budget. Some of the winners included new parents and families, with increased parental leave and reduced cost of childcare. Also, battery, hydrogen fuel cell and plug-in hybrid cars are to be exempted from taxes, if their retail price is below the luxury car tax threshold. This may have an impact on battery making lithium stocks. A million new homes will also be built over 5 years from 2024, so stocks such as Lendlease (ASX:LLC) may benefit from this. On the downside however, power costs are to rise by 20% this year and 30% next year. Also, food crop losses and distribution to milk supplies due to the floods are expected to add 0.1% to inflation in the December and March quarters. Generally though, the budget doesn’t have a big influence over market movements. In commodities, the oil price trading higher, just under US$85 per barrel. Gold is also in the green, trading just under US$1,653 an ounce. And iron ore has regained 1%, now US$95.50 per tonne. In economic data, today the inflation rate for the third quarter is set to be released at 10:30am AEDT, expected to rise by 6.1% to 6.5%. Keep watch of the following companies, that are set to release a quarterly report today. These include Coles (ASX:COL), Iluka Resources (ASX:ILU), Mirvac Group (ASX:MGR), Mineral Resources (ASX:MIN) and Westfield (ASX:URW). Trading Ideas:Bell Potter maintain a Speculative Buy rating on PointsBet Holdings (ASX:PBH) and have lowered their valuation from $5.25 to $4.50. At its current share price of $2.03, this implies over 100% share price growth in a year. Trading Central have identified a bearish signal in News Corp (ASX:NWS), indicating that the stock price may fall from the close of $26.74 to the range of $22.20 to $23 over 17 days, according to the standard principles of technical analysis. 

The ASX200 moved higher today, closing with a 0.3% gain. Nine of the eleven industry sectors are in the green with real estate stocks advancing the most, up 1.7%. Meanwhile, the energy and materials sectors declined the most. Lithium company Sayona Mining (ASX:SYA) was the best performing stock on the ASX200 today, closing the session 10.6% higher. While there was no news from the company, its share price was likely boosted by the price of lithium, which has reached a record high. Lithium carbonate prices in China extended its record high, now up 95% year-to-date, as surging demand coincides with tight supply. Other top performing stocks today included Credit Corp (ASX:CCP), St Barbara (ASX:SBM), Nine Entertainment (ASX:NEC) and Core Lithium (ASX:CXO). On the flip side, Reliance Worldwide (ASX:RWC) declined the most today, closing the session more than 13% lower. The company released a quarterly update this morning, which was a mixed bag of results. Sales increased when compared to the prior corresponding period, while EBITDA margins fell more than 26% over the quarter. Ampol (ASX:ALD), New Hope Corporation (ASX:NHC) and Chalice Mining (ASX:CHN) also closed in the red. The most traded stocks by Bell Direct clients today were Whitehaven Coal (ASX:WHC), Pilbara Minerals (ASX:PLS), the Bank of Queensland (ASX:BOQ) and Sayona Mining (ASX:SYA). Tonight, the government will be handing down the Federal Budget. This isn’t likely to have much impact on markets, however we’ll all still be watching the budget tonight. It’ll be announced at 6:30pm AEDT. And tomorrow the inflation rate for the third quarter will be released. The inflation report is more likely to have some influence over markets tomorrow, with inflation expected to rise from 6.1% to 6.5%. This is a key piece of data ahead of the RBA’s next meeting on Tuesday, when markets are expecting a 25-basis point rate hike. Lastly, the Australian dollar is buying 63 US cents, 56.58 British Pence, 94.13 Japanese Yen and 1 dollar and 11 cents New Zealand. 

US equities saw its second day of gains. The Dow Jones gained more than 400 points or 1.3%. The S&P500 gained 1.2% and the Nasdaq closed 0.9% higher. Traders are also awaiting the earnings results of four of the biggest tech companies. Results for Alphabet and Microsoft are out tonight, and Apple and Amazon are due Thursday.European markets also closed in the green, following the announcement that Rishi Sunak is the new UK prime minister. What to watch today:Our local market is set to open higher. The SPI futures are suggesting a 0.4% rise at the open this morning. In economic data, the government will be handing down the Federal Budget tonight. This of course will be on watch, however it is unlikely to move markets. What is more pressing on markets is the inflation report, which is set to be released tomorrow. And this is a key piece of data ahead of the RBA’s next meeting on Tuesday. Looking at commodities, Oil is trading lower as worries about a deteriorating growth outlook continue. Also, Chinese customs data showed that demand from the world’s largest crude importer remained subdued in September, as covid-induced restrictions and fuel export curbs, supressed consumption. The price of gold has dropped, while iron ore has slowly started to regain earlier losses. The following companies are set to release a quarterly report today, so keep watch of their share price movements. These include Ampol (ASX:ALD), Mineral Resources (ASX:MIN), Pilbara Minerals (ASX:PLS) and Reliance Worldwide Corporation (ASX:RWC). The Australian dollar has dropped, currently buying 63 US cents, 56.58 British Pence, 94 Japanese Yen and 1 dollar and 10 cents New Zealand. Trading Ideas:Bell Potter maintains a Speculative BUY rating on Clean Seas Seafood (ASX:CSS) with a price target of $0.85. At its current share price of $0.55, this implies 54.5% share price growth in a year. Trading Central have identified a bullish signal in Lynas Rare Earths (ASX:LYC) indicating that the stock price may rise from the close of $7.86 to the range of $8.55 to $8.75 over 25 days, according to the standard principles of technical analysis. 

The ASX started the week exactly how it was anticipated to, closing Monday’s session 1.54% higher on the back of the strong rally that took over Wall Street on Friday. All eleven sectors of the ASX closed the first trading session of the week in positive territory.Energy stocks were the worst performing today but still managed to close 0.74% higher despite oil prices dropping amid dampened sentiment following the conclusions of the party congress in China, with analysts in the region saying, ‘oil will remain choppy as recession risk and supply tightening balance each other out’. Fuel supplier Viva Energy (ASX:VEA) rallied today on the back of a Q3 FY22 trading update outlining sales volumes reached their highest level since pre-COVID-19 in during the quarter, rising 19.7% on the PCP. NOVONIX (ASX:NVX) shares rocketed a further 33% today as investors continue piling into the battery materials and technology company following the release of the major announcement last week that the company’s Anode Materials division has been selected to enter negotiations to receive US$150m in grant funding from the US Department of Energy. The materials sector led the rally today, adding more than 2.5% driven by Evolution Mining (ASX:EVN) adding 8.3%, Gold Road Resources (ASX:GOR) rallying 6.4% and Pilbara Minerals (ASX:PLS) lifting 6.21%.The winning stocks for today’s session were NOVONIX (ASX:NVX), Evolution Mining (ASX:EVN) and Gold Road Resources (ASX:GOR). On the losing end of the market, South32 (ASX:S32) took the biggest hit today dropping just 1.88%, Beach Energy (ASX:BPT) fell 1.3% and Graincorp (ASX:GNC) also lost 1.3%.The most traded stocks by Bell Direct clients today were South32 (ASX:S32), Pilbara Minerals (ASX:PLS) and Alumina (ASX:AWC).China’s GDP growth rate for Q3 soared to 3.9% in data released today, which well exceeded market expectations of a 3.4% rise, and was a big jump from the 0.4% increase in Q2. Local investors will be keeping a keen eye out for Australia’s inflation rate for Q3 which is out on Wednesday.The Australian dollar is buying 63.8 US cents, 56.58 British Pence, 94.42 Japanese Yen and 1 dollar and 10 New Zealand cents.

The local market ended Friday’s session 0.8% lower with every sector aside from energy stocks closing in negative territory. On Friday, investor sentiment was dampened by fears of a global recession but the energy sector offset sharp some of the losses, buoyed by strong gains for coal miners.  Telix Pharmaceuticals (ASX:TLX) led the ASX200 winners on Friday after ending the session up 12.67%, New Hope Corporation (ASX;NHC) rallied 7.7% to end the week, and Perseus Mining (ASX:PRU) lifted 5.85% on Friday. On the other end of the market, Home Consortium (ASX:HMC) fell 5.45% on Friday, Origin Energy (ASX:ORG) dropped 4.35% and Kelsian Group (ASX:KLS) fell 4.18%. The most traded stocks by Bell Direct clients on Friday were Woodside Energy (ASX:WDS), Grange Resources (ASX:GRR) and Northern Star Resources (ASX:NST). Over in the US, the ongoing swings between positive and negative investor sentiment shifted positive again on Friday after San Francisco Fed leader Mary Daly said at some point rate rises would moderate though it’s not yet time to ‘step down’ from large hikes, which fuelled a rally on Wall St. The Dow Jones Industrials index added 2%, the S&P500 also jumped 2% and the tech-heavy Nasdaq rose 1.7%. Earnings reports continue being released in the US with Exxon Mobil shares hitting an intra-day record high on Friday ahead of the company’s earnings report out this week, with some market analysts deeming the outlook for the company as attractive, ‘particularly for generalists needing energy exposure’. In Europe on Friday, the STOXX600 fell amid rising concerns that major central banks around the world would retain their aggressive stance on inflation with dismal earnings updates from a number of companies. European markets were also impacted by turbulence on the UK’s political front in addition to European leaders continuing a debate on how to tackle the bloc’s energy crisis after Germany gave the green light for discussions around a price cap. Germany’s DAX closed Friday’s session 0.3% lower, the French CAC lost 0.85% and in the UK the FTSE100 rose 0.37% extending the rally from Thursday on news of the resignation of new British PM Liz Truss.What to watch today:The SPI futures are anticipating the ASX to open 1.42% higher on the back of the US rally that ended last week higher.On the economic data front today, investors will be awaiting the release of China’s Q3 GDP growth rate data out today with the market expecting an increase to 3.4% in Q3 from a rise of 0.4% in Q2.In commodities, brent crude oil is trading 1.22% higher at US$93.5 per barrel, gold is trading 1.81% higher at US$1657 per ounce, and iron ore is up 0.53% at US$94.50 per tonne.The Aussie dollar is trading slightly stronger this morning with 1 Aussie dollar buying 64 US cents, 56.41 British Pence, 94.17 Japanese Yen and 1 New Zealand dollar and 11 cents.Trading Ideas:Trading Central has identified a bullish signal on Aeris Resources (ASX:AIS) following the formation of a pattern over a period of 29 days, which is roughly the same amount of time the share price may rise from the close of $0.42 to the range of $0.52 - $0.54 according to standard principles of technical analysis.Trading Central has also identified a bearish signal on Healius (ASX:HLS) following the formation of a pattern over a period of 17 days which is roughly the same amount of time the share price may fall from the close of $3.19 to the range of $2.98 - $$3.02 according to standard principles of technical analysis.

The Aussie share market declined 1.42% this week (Mon-Thu).  News on inflation, interest rates and levels of economic growth is making it more difficult for investors to agree on the direction of global markets.      In this week's wrap, Grady covers:(0:57) How La Nina has impacted Australian shares(2:52) UK inflation & US interest rate fears(3:22) The biggest movers on the ASX this week(4:45) The most traded stocks & ETFs by Bell Direct clients (5:13) Three economic news items to watch out for

Well while European stocks had a good run overnight, US equities closed in the red, as Treasury yields continue to climb to new highs. The benchmark 10-year Treasury yield reached 4.2%, trading at a level not seen since 2008. Stocks declined for the second consecutive session as investors digested some key earnings reports. The Dow Jones closed 0.3% lower, the S&P500 down 0.8% and the Nasdaq down 0.6%. What to watch today:The Australian market is set to open lower this morning. The SPI futures are suggesting a fall of 0.37% at the open. In commodities, the price of oil is only slightly higher, trading just above US$85 per barrel, while gold is trading lower. Gold is approaching levels last seen in April 2020, weighed down by the rallying US dollar and Treasury yields, on expectations that the Fed will continue its aggressive approach to rate hikes. And iron ore has started to regain some of its earlier losses this week, currently trading 1% higher. Iron ore hit an 11-month low earlier this week after China emphasised the importance of its zero-COVID policy. There are a few stocks set to release a quarterly report today, so these companies will be the ones to watch. They include Allkem (ASX:AKE), AMP (ASX:AMP), Coronado Global Resources (ASX:CRN) and St Barbara (ASX:SBM). Currently, 1 Australian dollar is buying 63 US cents, 94.25 Japanese Yen, 55 British Pence and 1.1 New Zealand. Trading Ideas:Bell Potter maintain a Buy rating on TechnologyOne (ASX:TNE). The company will release its FY22 results at the end of November, and the brokers view is that is may provide a catalyst for the share price, because firstly, profit before tax is likely to be toward the top end of the guidance range of 10-15% growth. Secondly, on the premise initial licence feeds may be below guidance of $12 million. Also, SaaS metrics and Annual Recurring Revenue could positively change, second half cash flow should be strong, and there is potential of capital management initiatives given the strong cash position. Bell Potter haven’t changed their forecasts, they maintain a price target of $14.25. At TNE’s current share price of $12.16, this implies 17.2% share price growth in a year. Trading Central have identified a bearish signal in Fortescue Metals (ASX:FMG) indicating that the stock price may fall from the close of $16.52 to the range of $11.90 to $19.80 over 39 days, according to the standard principles of technical analysis. 

The local market closed in negative territory, down 1.02% today on the back of the global market sell-off overnight which was spurred by the UK’s inflation rate rising and investor sentiment in the US falling on concerns of more aggressive rate hikes to come in the region for months to come. It was another day for trading updates on the local market, causing investors to both sell-off and pile into certain stocks following the respective releases of quarterly earnings reports.Woodside Energy (ASX:WDS) shares soared today after the oil and gas giant released a trading update today outlining record performance for Q3 including record production up 52%, sales volume up 59% and revenue jumped 70%. The results were largely driven by the inclusion of BHP’s petroleum assets. Zip Co (ASX:ZIP) also jumped 13% today after releasing a first quarter trading update today, revealing strength across both top and bottom lines including revenue up 19%, transaction numbers lifting 33%, customer numbers up 50% and merchants rising 70% to 94,100. Zip’s US business also saw credit loss rates decrease to 2.4% of total transaction volume, in line with target levels. We are seeing Australian companies are increasingly factoring in La Nina weather events set to hit the east coast over summer, into future guidance in updates released this week, for example Whitehaven Coal (ASX:WHC) and Costa Group (ASX:CGC).The ASX200’s biggest winners today were NOVONIX (ASX:NVX) adding 7.04%, Adbri (ASX:ABC) recovered some of its losses from the past few sessions surging 6.76% today, and Woodside Energy (ASX:WDS) added 6.18%. And on the losing end, Sandfire Resources (ASX:SFR) fell 13.23%, Megaport (ASX:MP1) lost 11.80%, and St Barbara (ASX:SBM) extended its losses, falling a further 8% today.The most traded stocks by Bell Direct clients today were the BetaShares Australian Strong Bear Hedge Fund (ASX:BBOZ), Whitehaven Coal (ASX:WHC) and the BetaShares Geared Australian Equity Hedge Fund (ASX:GEAR).Today, Australia’s unemployment rate data for September was released showing the country’s jobless rate held steady at a near-50 year low of 3.5% for the month with just 900 Aussies gained work while the number of unemployed Australians increased by 8800.The AUD is slightly weaker today following the release of the nation’s unemployment rate with 1 Aussie dollar buying 62.63 US cents, 93.94 Japanese Yen, 55.17 British Pence, and 1.11 New Zealand.

Overseas, the US markets rally came to an end on Wednesday as treasury yields rose to multi-year highs amid concerns the Federal Reserve will remain hawkish for months to come which in-turn raises the risk of a recession. The market sell-off dampened strong earnings reports from Netflix and United Airlines as an analyst at Morgan Stanley says earnings forecasts for this reporting season had been ‘cut to the bone’ so beating forecasts wouldn’t be hard as companies had already factored in rising interest rates and other impacts into outlook for the reporting season. The Dow Jones industrials index fell 0.33%, the tech-heavy Nasdaq dropped 0.85% and the S&P500 closed the midweek session down 0.67%.Over in Europe and the UK, the four-day rally also ended after UK inflation data for September rose again to 10.1% after an unexpected decline in august. Food, energy and transport costs drove the rise in inflation, with the country’s cost of living continuing to hit residents and businesses hard especially before the winter months. The increase in inflation enhanced investor fears of a recession in the region as further interest rate hikes are expected to cool the rising inflation. The FTSE100 fell 0.17%, Germany’s DAX lost 0.19% and the French CAC closed the midweek session 0.43% lower.What to watch today:The SPI futures are anticipating the ASX to follow the global sell-off by opening 0.7% lower.On the commodities front, brent crude oil has rebounded from recent day declines to trade 2.67% higher at US$92.43 per barrel, iron ore is trading flat at US$95 per tonne, and gold is trading 1.44% lower at US$1629 per ounce.The Australian dollar has strengthened to 68.08 US cents, 55.17 British Pence, 93.98 Japanese yen and 1 New Zealand Dollar and 11 cents.In economic data Australia’s unemployment rate for September will be released at 10:30am AEDT with the market expecting a decline to 3.4% for September, from 3.5% in August.Trading Ideas:Trading Central has identified a bullish signal on Chalice Mining (ASX:CHN) following the formation of a pattern over a period of 46-days which is roughly the same amount of time the share price may rise from the close of $4.17 to the range of $4.95 to $5.15 according to standard principles of technical analysis.Trading Central has also identified a bullish signal on Azure Minerals (ASX:AZS) following the formation of a pattern over a period of 92-days which is roughly the same amount of time the share price may rise from the close of $0.29 to the range of $0.40-$0.42 according to standard principles of technical analysis.

The ASX traded mostly higher throughout the midweek session, which saw the key index close the day up 0.31%, despite the SPI futures expecting a sell-off to start the day. It was a day for the miners both on the winning and losing end of the market scale. BHP Group (ASX:BHP) shares were sold-off today, following the release of the mining giant’s quarterly update including production and unit cost guidance remaining unchanged for FY23, while production levels fell short of market expectations. Chalice Mining (ASX:CHN) jumped more than 9% today after the precious and base metal exploration company released an update on exploration activities at the Julimar Nickel-Copper-Platinum Group Element Project in Western Australia, with new drilling validating the recent 2D seismic interpretation, intersecting the northern extension of the complex down-plunge. Whitehaven Coal (ASX:WHC) shares sold-off at the opening bell following the release of the company’s quarterly update, however quickly rebounded as investors digested the company’s solid report including the company generating $1.55bn of cash in the quarter, and the expectation of La Nina weather events to impact production through the spring season. And Aurora Energy Metals (ASX:1AE) soared more than 17% during today’s session after revealing that the company is finalising the preparatory work for its Phase 1 RC drilling program at the Aurora Energy Metals Project, the first drilling at the project in a decade, with drilling expected to commence next week as the program targets both lithium and uranium. The winning stocks for today’s session were led by Core Lithium (ASX:CXO) adding 8.2%, Pilbara Minerals (ASX:PLS) lifting 5.8% and Pendal Group (ASX:PDL) rallying 5.5%. On the losing end, Megaport (ASX:MP1) tumbled 22.14% today, after the company released a quarterly trading update, St Barbara (ASX:SBM) continued its decline today, ending the day down 4.76% and Karoon Energy (ASX:KAR) fell 3.3%. The most traded stocks by Bell Direct clients today were Westpac (ASX:WBC), BHP Group (ASX:BHP), and the BetaShares Australian Strong Bear Hedge Fund (ASX:BBOZ).  In terms of economic data, investors are awaiting the release of Australia’s unemployment rate for September which is out tomorrow morning, with markets forecasting a decline to 3.4% from 3.5% for the month. The Australian dollar is trading stronger against the greenback at 63.12 US cents, 55.17 British Pence, 94.23 Japanese Yen and 1 New Zealand dollar and 11 cents.

The US markets rallied more than 1% for most of the day on Tuesday before closing the session marginally lower, with the Dow Jones & S&P500 adding 1.12% and 1.14% respectively, while the Nasdaq closed just under 1% higher, with the boosted higher by stronger than expected earnings out of Goldman Sachs, particularly on the bonds trading front. The big banks in the US reporting solid results overseas eased investor fears of a recession as the results shows investors are still spending. We are seeing these big swings in markets of late due to a see-saw effect of consumer spending remaining high, which eases recession fears, against inflation remaining stubbornly high causing central banks to raise rates to dampen spending and potentially send economies into recession. Investors are constantly torn between recessionary fears and inflationary fears. For markets to settle down investors will need to see economic growth with lower levels of inflation.Over in the UK and Europe, the global rally extended into a fourth consecutive day in Europe with Germany’s DAX adding almost 1% on Tuesday and the French CAC lifting 0.44%, while the UK’s FTSE100 closed Tuesday’s session 0.24% higher following the move by the UK’s new finance minister to cut backtrack on all tax cuts announced at the country’s mini-budget in September.On the commodities front, it’s a red start to the day across most commodities with brent crude oil trading down 1.14% at US$90.62 per barrel, natural gas is down more than 4%, iron ore is trading 1.55% lower at US$95 per tonne. Gold is trading just 0.07% higher at US$1651 per ounce and lithium is trading flat.What to watch today: The ASX futures are expecting the local market to open 0.43% lower despite another strong session on Wall Street overnight.On the economic data front, US housing permits and building permits data for September will be released tonight with the markets expecting a decline on both metrics from August, while investors locally will be awaiting the release of Australia's unemployment data for September out tomorrow, with the forecast for a decline to 3.4% from 3.5%.The Aussie dollar has weakened to buy 62.98 US cents, 55.26 British Pence, 94.06 Japanese yen and 1 New Zealand dollar and 11 cents.Stocks going ex-dividend today include Spheria Emerging Companies (ASX:SEC). If you have been thinking about these stocks it might be worth considering buying in today as stocks going ex-dividend generally trade lower on the ex-dividend date.Trading Ideas:Trading Central has identified a bullish signal on Weebit Nano (ASX:WBT) following the formation of a pattern over a period of 19-days which is roughly the same amount of time the share price may rise from the close of $2.36 to the range of $2.63 to $2.69 according to standard principles of technical analysis.Trading Central has identified a bearish signal on Woodside Energy (ASX:WDS) following the formation of a pattern over a period of 16-days which is roughly the same amount of time the share price may fall from the close of $32.88 to the range of $26.75 to $28.00 according to standard principles of technical analysis.

The local market jumped 1.72% today amid a rise in US futures after a solid session on Wall Street overnight driven by solid earnings results released including from the Bank of America, which rose 6% after reporting stronger than expected Q3 results. Locally, the tech sector led gains on the key index today adding more than 4%, taking lead from the Nasdaq posting its best session since July overnight. Every sector aside from the energy sector closed higher today. Another pivot out of the UK in the form of new finance minister Jeremy Hunt saying he will reverse nearly all tax-cuts announced and that the energy price guarantee would continue through the winter, boosted markets around the world today.The RBA’s meeting minutes for October were also released today, outlining the RBA’s shock decision to raise the country’s cash rate by 25 basis points in October was “finely balanced” with the risk of a global and domestic economic slowdown, but that further interest rates hikes would likely be required.Today Westpac (ASX:WBC) confirmed its in takeover talks with embattled fintech company Tyro Payments (ASX:TYR) to acquire 100% of the company’s issued share capital in a bid to strengthen Westpac’s small business proposition particularly in the hospitality and healthcare sectors. Following the announcement, shares in Westpac (ASX:WBC) rose 2.3%, while Tyro Payments (ASX:TYR) shares rallied 1.9%.The winning stocks for today’s session were NOVONIX (ASX:NVX) which added 18.99% amid the surge in tech stocks today, Hub24 (ASX:HUB) jumped 14% today after the company released a quarterly update outlining net inflows of $3 billion for the quarter, and Telix Pharmaceuticals (ASX:TLX) added 11% today after the company released promising preliminary data from two investigator-initiated studies in triple negative breast cancer, and non-muscle-invasive bladder cancer.On the losing end of the market today, St Barbara (ASX:SBM) took the biggest hit, tanking more than 21.5% after releasing a first quarter report for the three months to September 30, including a downgrade to the gold miner’s guidance for FY23 on the back of a slower than expected ramp up in underground mine equipment availability and utilisation impacting production at its Leonora operation where the company’s Gwalia Mine is located. Adbri (ASX:ABC) extended its dive today, falling another 4.5%, and Coronado Global Resources (ASX:CRN) dropped 4.4% today.The most traded stocks today by Bell Direct clients today were Lake Resources (ASX:LKE), the BetaShares Geared Australian Equity Hedge Fund (ASX:GEAR), and the BetaShares Australian Strong Bear Hedge Fund (ASX:BBOZ).US housing starts and building permits data for September will be released tomorrow, with the markets expecting a decline on both metrics from the month of August.The Australian dollar is buying 62.9 US cents, 55.26 British Pence, 94.09 Japanese Yen and 1 dollar and 11 New Zealand cents.

It was a strong session for US equities overnight, with all three major benchmarks rallying higher. Strong earnings results came in from the banks that boosted the volatile market. The Dow Jones gained 550 points or 1.86%. The S&P500 gained 2.65% and oversold tech names also enjoyed a rebound, with the Nasdaq closing with a 3.43% gain. What to watch today: The SPI futures are suggesting the Australian market rise 0.92% at the open this morning. In economic news, today the RBA will release the minutes from its October meeting, when the cash rate was raises a further 25 basis points to 2.6%, while brining borrowing costs to a level last seen mid-2013. It’s not likely the minutes will move markets but it will provide us with some more commentary the RBA’s current position. In commodities, Oil is trading flat at around US$85 per barrel as China’s continuation of loose monetary policy offset fears of high inflation and energy costs. The price of gold is up 0.5%, extending its rebound after hitting a two-week low earlier in the week, as the UK’s decision to reverse unfunded tax cuts lifted market sentiment. Seaborne iron ore is down 1%. Watch the price movements of Rio Tinto (ASX:RIO) and Hub24 (ASX:HUB). Both companies are set to release a quarterly report today. While Endeavour (ASX:EDV), Cochlear (ASX:COH) and Brambles (ASX:BXB) will hole their AGMs today. Trading Ideas:Bell Potter maintain a Buy rating on Coronado Global Resources (ASX:CRN). The companies CY22 guidance implies a strong July- December lift in coal output and corresponding lower costs. And Bell Potter say that CRN will generate strong free cash flow on their met coal price outlook. And in the absence of acquisition or major project developments, the company is likely to return surplus funds to shareholders, and that’s reflected in their strong dividend yield outlook. Bell Potter have increased their price target to $2.20 and at CRN’s current share price of $2.06, this implies 6.8% share price growth in a year. And Trading Central have identified a bearish signal in BHP Group (ASX:BHP) indicating that the stock price may fall from the close of $39.09 to the range of $34.40 to $35.30 over 15 days, according to the standard principles of technical analysis. 

The local market followed in the footsteps of Wall Street on Friday, with the ASX200 closing the first trading session of the week down 1.4% as every sector ended the day in negative territory, led by a sharp sell-off in energy stocks. The energy sector was weighed down by declining oil prices over the last week.Embattled casino giant Star Entertainment Group (ASX:SGM) entered a trading halt today after the New South Wales casino regulator slapped the company’s Sydney casino with a record $100 million fine and suspended its licence for compliance failures. Whitehaven Coal (ASX:WHC) shares dipped today after Morgan Stanley reported La Nina weather events present a 5% to 10% production risk to 2023 financial year guidance for mines operating on Australia’s east coast and in South-East Asia. Four of Whitehaven Coal’s mines are located in the Gunnedah Basin of New South Wales, while a number of its other sites are near the Bowen Basin in Central Queensland. Lithium stocks were pushed higher today by the price of lithium carbonate soaring to an all-time high on Friday of 532,000 yuan per tonne, or $118,596.09 AUD. Core Lithium (ASX:CXO) added 5.63%, Liontown Resources (ASX:LTR) jumped 5.5% and Lake Resources (ASX:LKE) rallied 1.74% today.The winning stocks for today’s session were, Core Lithium (ASX:CXO) amid the rising price of lithium carbonate, Liontown Resources (ASX:LTR) came in as the second top stock of the session and News Corporation (ASX:NWS) rounded out the top the winning stocks for Monday, adding 3.63%. And the stocks investors sold-off today included Adbri (ASX:ABC), which tanked 22% after the company announced a leadership transition regarding the CEO Nick Miller leaving his role as CEO and as a director, as well as a trading update outlining external headwinds set to impact the company’s underlying NPAT for the full year ending December 31. Investors also sharply sold out of Costa Group (ASX:CGC) shares today, with its share price sinking 13% after the company also released a trading update outlining increased costs related to adverse weather conditions. St Barbara (ASX:SBM) rounded out the bottom three performing stocks today, with its share price falling 8.22% to close the session.The most traded stocks by Bell Direct clients today were Hawsons Iron (ASX:HIO), Bank of Queensland (ASX:BOQ) and the BetaShares Strong Bear Hedge Fund (ASX:BBUS).Investors will be awaiting the release of the RBA’s meeting minutes out tomorrow to give an indication of future rate hike moves by the country’s central bank.The Australian dollar is buying 62.18 US cents, 55.09 British Pence, 92.76 Japanese Yen, and 1 dollar 12 cents New Zealand.

The local market soared 1.75% on Friday on the back of the US markets sharp rebound on Thursday, after US headline inflation came in below market expectations of a decline to 8.2% for the month of September, while core inflation jumped to 6.6%, which is a 40-year high. Investor sentiment locally was boosted by the US markets experiencing the biggest turnaround since 2020 from negative to sharply positive territory after CPI data was released. For the week, the ASX lost 0.06%.Locally, the 2022 favourite energy sector led the charge again on Friday, adding 3.75%, while utilities stocks jumped 3.62% and Consumer Staple stocks rallied 2.04%. All 11-sectors of the ASX ended Friday’s session in positive territory. The winning stocks on Friday were Virgin Money UK (ASX:VUK), which lifted 9.525, Domino’s Pizza (ASX:DMP) added 7.6% and Liontown Resources (ASX:LTR) jumped 7.57%. On the losing end, Pilbara Minerals (ASX:PLS) fell 5.06%, St Barbara (ASX:SB) lost 3.31% and Ramelius Resources (ASX:RMS) ended the day down 3.1%.The most traded stocks by Bell Direct clients on Friday were the BetaShares Australian Strong Bear Hedge Fund (ASX:BBOZ), Pilbara Minerals (ASX:PLS) and Whitehaven Coal (ASX:WHC).Overseas on Friday, US markets closed lower across the key indices on Friday, following the release of big bank earnings reports. The Dow Jones fell 1.3%, the S&P500 lost 2.4% and the tech-heavy Nasdaq took the biggest hit, closing the day down 3%. Investors reacted to a mixed bag of earnings from the big banks with consensus across the big banks indicating the economy is strong now but outlook for the future is uncertain. JP Morgan Chase was one bank that impressed investors in its earnings results with the bank rallying 1.6% on the back of reporting stronger revenues amid higher consumer spending, high interest rates and strong performance on its trading desks. Morgan Stanley on the other hand fell 5% after its reports missed analysts’ expectations for both earnings and revenue.Over in Europe and the UK, the key indices closed higher on Friday. The FTSE100 added 0.12%, the French CAC jumped 0.9% and Germany’s DAX added 0.67%. Markets in Europe and the UK turned higher after the UK government U-turned on some of its controversial fiscal policies and the country’s finance minister was fired. New UK Prime Minister Liz Truss said on Friday that the government would include a further reversal of tax-cutting plans laid out in the mini-budget on September 23.What to watch today:ASX futures are expecting the local market to open sharply lower, down 1.51% to start the new trading week following on from the sell-off on Wall Street on Friday.In economic data, the RBA’s meeting minutes will be released on Tuesday, giving an insight into just how dovish the RBA are toward raising interest rates in future months, and the country’s unemployment rate is out on Thursday. Over in the US, it is a week for building and property market data with building permits and house starts data for September both out on Wednesday and existing home sales data for September out on Thursday.On the commodities front, it’s a red start to the week for commodities with Brent Crude oil trading 3.08% lower at US$91.65 per barrel, Gold is trading down 1.34% at US$1643 per ounce, and iron ore is trading flat at US$96.50 per ton.Trading Ideas: Trading Central has identified a bullish signal on James Hardie Industries (ASX:JHX) following the formation of a pattern over a period of 7-days which is roughly the same amount of time the share price may rise from the close of $32.90 to the range of $37.50 to $ 38.50 according to standard principles of technical analysis.Trading Central has also identified a bearish signal on Euroz Hartleys Group (ASX:EZL) following the formation of a pattern over a period of 15-days which is roughly the same amount of time the share pr

The Aussie share market tumbled 1.78% this week (Mon-Thu), following stronger than expected jobs data in the US. The energy sector was sharply sold off, amid the declining price of oil.   In this week's wrap, Grady covers:(0:49) Why retail stocks have been beaten down this year(1:45) Holding banks in a rising interest rate environment (2:23) Consumer staples businesses that have done well(4:00) The biggest movers on the ASX200 this week(6:05) The most traded stocks & ETFs by Bell Direct clients (6:35) Two economic news items to watch out for

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. 

The local market followed the global market sell-off overnight to close Thursday’s session down 0.07% as investors fled REIT stocks, sending the sector down 1.87%, while piling into the banks and lifting the financial sector 1.4%. The story of the day and winning stock of the day was Australia’s national carrier Qantas (ASX:QAN) releasing a group market update outlining strong demand has accelerated the airline’s recovery. The flying kangaroo expects first half profit before tax of between $1.2bn and $1.3bn, which is a sharp recovery from the $1.9bn loss before tax reported for FY22. Qantas also said operational performance continues to improve to expect operations to be back at or around pre-COVID service levels in first half of October, and annual wages for around 20,000 employees will be increased following a two-year wage freeze. Other winning stocks today included Kelsian Group (ASX:KLS) and St Barbara (ASX:SBM) which added 6.3% and 4.1% respectively. Software company ELMO (ASX:ELO) soared 22% today after the HR tech company confirmed it has received takeover approaches from a number of parties including Accel-KKR, which ELMO has said it is in discussions with some parties in the context of maximising shareholder value. On the losing end of the market, NIB Holdings (ASX:NHF) tanked almost 12% today following the completion of the company’s $135m institutional placement. Graincorp (ASX:GNC) fell 6.3% today and Allkem (ASX:AKE) also fell 5.56% to end Thursday’s session.Medibank Private shares entered a trading halt today after the health insurance provider reported a cyber incident, specifically it ‘detected unusual activity on its network yesterday’. The company has engaged specialised cyber security firms to assist with containing and investigating the attack. Tonight’s big focus is the release of US core inflation data for September which is out at 10:30pm AEDT, with the market expecting US core inflation to drop slightly to 8.1% in September from 8.3% in August. The Australia dollar is buying 62.78 US cents, 56.60 British Pence, 92.19 Japanese Yen and 1 New Zealand dollar and 12 cents.

The US markets closed lower on Wednesday and the US dollar retreated as investors digested the Fed’s latest FOMC minutes released overnight. For the most part, the FOMC minutes were in-line with expectations of further aggressive rate hikes by the Fed to come, but investors also noted that many Fed officials ‘emphasised the cost of taking too little action to cool inflation outweighed the cost of taking too much action’ but the Fed’s are aware of the possible consequences of hiking interest rates too rapidly.The Dow Jones industrials index fell 0.1%, the Nasdaq closed 0.09% lower and the S&P500 ended the day down 0.33%. Also overnight, the FDA approved new Omicron-targeted COVID-19 booster shots from Pfizer and Moderna for administration in children.OPEC+ has slashed its forecast for global economic growth and crude oil demand in a move to justify its move last week to cut daily oil production by 2 million barrels per day. OPEC+ said a host of factors including escalating tensions between Russia and Ukraine, rising inflation, and aggressive action by the central banks, were behind its forecasted decline in demand for crude oil.Over in Europe and the UK, markets extended their sell-off into a 6th consecutive session with Germany’s DAX ending the midweek session down 0.4%, while the French CAC lost 0.25%.The UK’s FTSE100 was also sold off, ending the day down 0.86%. On the commodities front, brent crude oil continues to decline this morning, trading 1.84% lower at US$92.56/barrel, gold is trading 0.54% higher at US$1674/ounce and iron ore is trading 0.5% lower at US$97.50/ton.What to watch today:Ahead of the local trading session, ASX futures are expecting the Australian market to open 0.27% lower, weighed down by the global sell-off overnight.On the economic data front today, investors will be keeping a close eye on Core inflation data for September in the US which is out later tonight.Stocks going ex-dividend today include CPT Global (ASX:CGO) and Katana Capital (ASX:KAT). If you have been thinking about these stocks it might be worth considering buying in today as stocks going ex-dividend generally trade lower on the ex-dividend date.Trading Ideas:Trading Central has identified a bullish signal on Select Harvests (ASX:SHV) following the formation of a pattern over a period of 19-days which is roughly the same amount of time the share price may rise from the close of $5.12 to the range of $5.85-$6.05 according to standard principles of technical analysis.Trading Central has also identified a bearish signal on Mineral Resources (ASX:MIN) following the formation of a pattern over a period of 21-days which is roughly the same amount of time the share price may fall from the close of $70.12 to the range of $57-$60 according to standard principles of technical analysis.

The local market rallied in afternoon trade before sharply declining in the last hour of trade to close just 0.04% higher as a rally for the banks offset a sharp sell-off in utilities and energy stocks. Some relief was also felt for the REIT sector today as real estate stocks edged 1.44% higher at the end of the midweek session. The lacklustre session followed a mixed day on Wall Street as investor sentiment remains on edge ahead of FOMC minutes and core inflation data due out tomorrow. The mining giants took a hit following a 0.5% decline in the price of iron ore to US$97.5 per ton, while Lake Resources (ASX:LKE) rallied 2% after inking a supply deal to supply battery grade lithium to SK On from the company’s Kachi Project in Argentina. The winning stock was the Bank of Queensland (ASX:BOQ) as it soared 11.13% to have its best session in 2-years after releasing its FY22 annual report outlining key achievements including NPAT up 15% to $426 million for FY22. Coronado Global Resources (ASX:CRN) rose more than 8% today and Sayona Mining (ASX:SYA) regained ground today closing the midweek session up 4.65%. On the losing end, Mineral Resources (ASX:MIN) fell 3.65% today amid the declining price of iron ore, Nickel Industries (ASX:NIC) lost almost 3.2% and Telix Pharmaceuticals (ASX:TLX) ended the day down just over 3%. The most traded stocks by Bell Direct clients today were the BetaShares Geared Australian Equity Hedge Fund (ASX:GEAR), Mineral Resources (ASX:MIN) and Fortescue Metals Group (ASX:FMG). On the economic data front for tomorrow it is a big day over in the US with the FOMC minutes due out, indicating exactly how hawkish the Fed is toward raising interest rates further moving forward, and Core inflation data in the US is also out which will give an insight into just how successful the Fed’s aggressive interest rate hikes have been at cooling the country’s high inflation. The Australian dollar has hit a fresh 2.5 year low today, with 1 Aussie dollar buying 62.67 US cents, 65 Euro cents, 56.60 British Pence, 91.74 Japanese Yen, and 1 New Zealand Dollar and 12 cents.

 Taking a look at global markets overnight, in the final hours of trade on Tuesday the S&P500 overturned a morning rally to close 0.65% lower, the tech-heavy Nasdaq shed 1.1% and the significant early morning rally for the Dow Jones weakened, causing the industrials index to close just 0.12% higher. Stocks lost momentum in afternoon trade ahead of key inflation data out later in the week that will provide an update on the state of the US economy. In the UK and Europe, it’s a different story today as investors continued selling out of the markets there on Tuesday with the UK’s FTSE100 ending Tuesday’s session down 1.06%, while in Europe, Germany’s DAX fell almost half a percent while the FRENCH CAC ended the session down 0.13%. European markets were sold-off for a fifth straight session amid persistent investor concerns over global growth, the prospect of further monetary policy tightening and the escalating tensions between Russia and Ukraine. Over the last month investors have pulled 694 million pounds worth of investments in UK shares, Asia-focused equities manager Platinum Asset Management posted $172 million in outflows for September and retail investors locally have pulled $400 million from Magellan Financial Group in the last month amid rising interest rates and the possible recessionary market environment especially for the UK and Europe.What to watch today: Ahead of the new trading day, ASX futures are expecting the local market to open 0.33% lower following the afternoon sell-off on Wall St overnight.On the commodities front, brent crude oil continues to decline this morning, trading 1.65% lower at US$94.62 per barrel, gold has rebounded to trade 0.58% higher around US$1677 per ounce, and iron ore is trading flat at US$98 per ton.In economic data, there is no local economic data released today but over in the UK investors will be awaiting GDP data for the month of August, while US PPI data for September will be out later tonight.Stocks going ex-dividend today include Horizon Oil (ASX:HZN), Regis Resources (ASX:RRL), and WAM Global – Wilson Asset Management (ASX:WGB). If you have been thinking about these stocks it might be worth considering buying in today as stocks going ex-dividend generally trade lower on the ex-dividend date.The Aussie dollar has weakened to buy 62.62 US cents, 56.50 British Pence, 92.06 Japanese Yen and 1 New Zealand Dollar and 12 cents.Trading Ideas:Trading Central has identified a bullish signal on Superloop (ASX:SLC) following the formation of a pattern over a 32-day period, which is roughly the same amount of time the share price may rise from the close of $0.71 to the range of $0.82-$0.84 according to standard principles of technical analysis.Trading Central has also identified a bullish signal on Race Oncology (ASX:RAC) following the formation of a pattern over a period of 15-days which is roughly the same amount of time the share price may rise from the close of $2.05 to the range of $2.25 to $2.29 according to standard principles of technical analysis.

The ASX succumbed to the pressure of the global market sell-off today, closing Tuesday’s session 0.34% lower despite a morning rally. Investors sharply sold out of energy stocks amid a decline in the price of oil, while also weighing up declining consumer and business confidence data which were released today for September and October respectively. Westpac Consumer Confidence slid almost 1% for October, while NAB Business Confidence data dropped 5 points in September amid difficult business and economic conditions.The oil and gas mining giants took a hit today on the declining price of oil, with Beach Energy (ASX:BPT) falling 2.5%, Woodside Energy (ASX:WDS) shedding 2% and New Hope Corporation (ASX:NHC) ended the day down 1.2%.Despite the market closing lower, some stocks made headlines for surging ahead today including John Lyngs Group (ASX:JLG), which recovered 6% of yesterday’s sharp sell-off, while Allkem (ASX:AKE) added nearly 5% and Orica (ASX:ORI) gained 4.4% today.On the losing side, Sayona Mining (ASX:SYA) was the worst performing stock on the ASX200 today despite no price sensitive news released by the lithium producer today. Imugene (ASX:IMU) continued its sell-off today, losing 5.5%, despite no news out of the company. Megaport (ASX:MP1) rounded out the bottom three performing stocks today, closing just under 5% lower. Baby retailer Baby Bunting (ASX:BBN) shares tanked more than 20% today after the company issued a warning about the company’s gross profit margin as it fell 208 basis points over the PCP to 37.2%. While travel business Helloworld Travel (ASX:HLO) fell 0.5% today, despite the company releasing an update flagging a rebound in travel is imminent as its total transaction value soared 352% in the September quarter to $561m from the same period a year earlier.On the economic data front for tomorrow there is no local data released tomorrow, however overseas the UK’s GDP data for August will be released tomorrow afternoon and US Producer Price Index data for September will be out later tomorrow night.The Australian dollar has weakened again, trading at 62.6 US cents, 57.19 British Pence, 91.16 Japanese Yen and 1 New Zealand dollar and 13 cents.

US markets continued to decline on Monday, with the tech-heavy Nasdaq hitting its lowest point in two years led by a sharp sell-off in chip stocks, amid a policy change by President Biden to limit US companies from selling advanced semiconductor and other equipment to China. Tech stocks have also been hit hard lately from their relatively high valuations and the rising cost of borrowings. The Dow Jones industrials index closed just 0.05% lower, the S&P500 lost 0.75% and the Nasdaq fell 1.04%. Stocks extended on last week’s sell-off after JP Morgan warned that the US would likely slump into a recession in 2023 and that it may not just be a mild economic contraction as some economists have projected.Over in Europe, the global sell-off continued amid growing concerns over economic growth and tightening monetary policy ahead of key inflation data due out next week. Investors are also keeping a close eye on escalations in tension between Russia and Ukraine as the war in the region has intensified in recent days. Germany’s DAX closed Monday’s session flat, the French CAC lost 0.45% and, in the UK, the FTSE100 also ended the day down 0.45%.On the commodities front, the price of most commodities across the board are down, with brent crude oil trading 2.14% lower at US$95.86 per barrel, natural gas is down 3.5% to US$6.5 per Million British Thermal Units, coal is down 3.75% to US$385 per ton, gold is down 1.54% at US$1668.14 per ounce and iron ore is trading flat at US$98 per ton.What to watch today: Ahead of the local trading session in Australia, the ASX futures are anticipating a 0.18% rise at the opening bell despite the negative start to the week overseas. It could be a difficult session today for oil and gold stocks amid a decline in the price of oil and gold overnight.On the economic data front today, we will be keeping a close eye on Westpac Consumer Sentiment data for October and NAB Business Confidence data for September which will both be released this morning, giving an insight into business and market conditions from a business and consumer perspective.Stocks going ex-dividend today include Turners Automotive Group (ASX:TRA) and Reece (ASX:REH). If you have been thinking about these stocks it might be worth considering buying in today as stocks going ex-dividend generally trade lower on the ex-dividend date.Trading Ideas:Trading Central has identified a bullish signal on Sheffield Resources (ASX:SFX) following the formation of a pattern over a period of 87-days which is roughly the same amount of time the share price may rise from the close of $0.53/share to the range of $0.61-$0.63/share according to standard principles of technical analysis.Trading Central has also identified a bearish signal on Ten Sixty Four (ASX:X64) following the formation of a pattern over a period of 24-days which is roughly the same amount of time the share price may fall from the close of $0.60 to the range of $0.47-$0.49/share according to standard principles of technical analysis.

Following the global market sell-off on the back of stronger than expected jobs data out of the US that ended last week on a negative note, the ASX kicked off the new trading week in the red, driven by a sharp sell-off in utilities, technology, and gold stocks today although every sector ended the session lower. At the closing bell, the ASX200 fell 1.4% to 6667.80 points. Iron Ore stocks avoided the sharp sell-off today amid a rise in the price of the commodity, which saw BHP (ASX:BHP), Fortescue Metals Group (ASX:FMG) and Rio Tinto (ASX:RIO) shares ending Monday’s session in positive territory despite the overwhelming sell-off among all sectors today.  The few winning stocks of today’s session were Sims (ASX:SGM) and Fortescue Metals Group (ASX:FMG), amid the rising price of iron ore and Tabcorp rounded out the top three winning stocks for today. On the losing front, Johns Lyng Group (ASX:JLG) tanked 14.8% today after providing a business update, announcing the company’s Managing Director and Group CEO Scott Didier has sold 4 million shares in the company. Capricorn Metals (ASX:CMM) and Imugene (ASX:IMU) also tumbled more than 10% and more than 7.5% respectively to start the week. The most traded stocks by Bell Direct clients today were in-line with market movements today, with the BetaShares Australian Strong Bear Hedge Fund (ASX:BBOZ), Whitehaven Coal (ASX:WHC), and Pilbara Minerals (ASX:PLS). On the economic data front for tomorrow, Westpac Consumer Confidence data for October is out tomorrow with the market expecting a decline of 2.8% from a rise of nearly 4% in the previous month. NAB Business Confidence data for September is also out tomorrow with the market also expecting a slide from 10 points to 8 points for the month.The Australian dollar has weakened to buy 63.3 US cents, 92 Japanese Yen and 57.19 British Pence.

Our local market closed 0.8% lower on Friday, dragged down by the real estate, tech and materials sectors, while energy was the only sector to close in the green. It was oil and gas exploration company Karoon Energy (ASX:KAR) that pushed the sector higher, while other stocks that made solid gains included Whitehaven Coal (ASX:WHC), Allkem (ASX:AKE) and Imugene (ASX:IMU).  The most traded stocks by Bell Direct clients were IPH (ASX:IPH), Whitehaven Coal (ASX:WHC) and Mineral Resources (ASX:MIN).  US equities tumbled following a strong US jobs report that pointed to rate hikes. The US unemployment rate for September declined further, to 3.5%. Now while this was as expected, markets consider what this means for the Fed, and a falling unemployment rate sparks a jump in rates, which weighed on stocks. The 2-year Treasury yield rose 6 basis points. And the three major benchmarks dropped. The Dow Jones closed more than 2% lower, or 600 points. The S&P500 down 2.8% and the Nasdaq sharply fell 3.8%.  What to watch today:• The SPI futures are suggesting the Australian market will drop 0.9% at the open this morning. • We may see selling of tech stocks today, following the Nasdaq’s drop of almost 4%. So watch tech companies such as Block (ASX:SQ2) and Xero (ASX:XRO). •  In commodities, the price of oil has jumped more than 5%, to a nearly 5-week high, and is trading above US$93 per barrel. OPEC agreed to cut production by 2 million barrels per day, or about 2% of global supply from November. Energy producers will be on watch today, including Santos (ASX:STO) and Woodside Energy (ASX:WDS).Iron ore is trading flat, while the strong US jobs data has put pressure on the gold price, which has dropped almost 1%. So, watch gold miners today. Trading Ideas:• Bell Potter maintain a Speculative Buy rating on Frontier Digital Ventures (ASX:FDV) with a valuation of $1.23. At its current share price of $0.67, this implies 82.2% share price growth in a year. • Trading Central have identified a bearish signal in Ten Sixty Four (ASX:X64), indicating that the stock price may fall from the close of $0.60 to the $0.47 to $0.49 over 24 days according to the standard principles of technical analysis.

The Aussie share market soared 5.30% this week (Mon-Thu), amid the global rally. US core inflation rate for September will be released on Thursday.  In this week's wrap, Grady covers:(1:59) Why investors find value in lithium and base-metal companies(3:55) The winning sector of the week(5:08) The biggest news on the All Ords this week(5:39) The most traded stocks & ETFs by Bell Direct clients (6:04) Economic news items to watch out for

The local market bucked the overnight sell-off around global markets to close Thursday’s session just 0.03% higher, following the decision by OPEC+ to cut daily oil production in attempt to stabilise prices, which sent local energy shares soaring.Real Estate stocks took another hit today as interest rates continue to rise, with the latest 0.25% hike announced earlier this week, as the rising rate environment is likely to lead to short-term underperformance in earnings for REIT stocks.Taking a look at the winning stocks for today’s session, Whitehaven Coal (ASX:WHC) continued its surge, adding 7.17% today, while Pilbara Minerals (ASX:PLS) and Link Administration (ASX:LNK) each added 5.7% and 5.14% respectively.And on the losing end of the market today, Magellan Financial Group (ASX:MFG) tanked 8% today after the company provided an update for its funds under management for September, showing its FUM continued to decline last month, with retail pulling another $0.4bn and institutions pulling another $3.2bn of funds managed by the embattled fund manager. Kelsian Group (ASX:KLS) and Domain Holdings (ASX:DHG) each also lost more than 3% today.The most traded stocks by Bell Direct clients today were Whitehaven Coal (ASX:WHC), Brainchip (ASX:BRN) and Mineral Resources (ASX:MIN).Taking a look at economic data, Australia’s trade balance data for August was released today showing the country’s trade surplus declined again in the month of August to hit $8.324bn, which was well below the market expectations of an increase in trade surplus to $10.1bn, in a sign Australia continues to increase imports compared to exports this new financial year. And the Aussie Dollar is trading slightly stronger against the greenback, up 0.39% with 1 Aussie dollar today buying 65.33 US cents.

Overnight, OPEC+ decided at a meeting yesterday to cut oil production by 2 million barrels per day in a move to ‘stabilise oil prices’. This move will actually help Russia fund its war in Ukraine if a price cap is not imposed on Russian oil and it will also push already high oil prices, higher.What to watch today:Taking a look at global markets, the US markets experienced an early rally before closing the midweek session lower across the key indices with the Dow Jones losing 0.14%, the S&P500 shedding 0.2% and the tech-heavy Nasdaq closing the day down 0.25%. The sell-off on Wednesday ended the US markets’ best two-day streak in more than 2-years. The short-lived rally was ended by ongoing investor concerns over the impact rising interest rates will have on both the economy and markets moving forward.Adding to investor fears were warnings made yesterday by the World Trade Centre that high energy costs and rising interest rates would fuel a sharp slowdown in global trade next year.The global rally from earlier this week also ended in Europe and the UK overnight with Germany’s DAX losing 1.21% and the French CAC closing just under 1% lower on Wednesday.In the UK the FTSE100 also faced a sell-off, closing the midweek session down nearly half a percent.New Prime Minister Liz Truss closed her party’s annual conference on Wednesday with a pledge of ‘growth, growth, growth’ for the British economy.Looking at commodities, Brent crude, the global benchmark of oil, is up 1.9% to US$93.5/barrel following the decision by OPEC+ to cut oil production, gold is trading 0.52% lower at US$1717/ounce, and iron ore is trading flat at US$98/tonne.ASX futures are expecting the local market to follow the overnight global sell-off, anticipating an open down 0.4% on the ASX today.On the economic data front for today, Australia’s trade balance data will be released at 10:30am Australian Eastern Daylight time, which will detail whether Australia’s trade surplus continued declining in August. The market is expecting a rebound in trade surplus to $10.1bn.Trading Ideas:Trading central has identified a bullish signal on Brainchip (ASX:BRN) following the formation of a pattern over a 41-day period, which is roughly the same amount of time the share price may rise from the close of $0.91 to the range of $1.26-$1.34 according to standard principles of technical analysis.And Trading Central has also identified a bullish signal on Bowen Coking Coal (ASX:BCB) following the formation of a pattern over a 21-day period which is roughly the same amount of time the share price may rise from the close of $0.35 to the range of $0.46-$0.48 according to standard principles of technical analysis.

The ASX’s rally extended into the midweek session with the key index closing 1.74% higher today, buoyed by another surge in technology stocks. The only sector to end today’s session lower was consumer staples stocks, which ended the day down just 0.04%.The big four banks rallied today after all four passed on the RBA’s latest 0.25% rate hike to customers on a variable interest rate loan. CBA also raised its savings rates for customer with Netbank Saver, GoalSaver and YouthSaver accounts. Taking a look at the winning stocks of the session, Telix Pharmaceuticals (ASX:TLX) soared almost 12% today despite no price sensitive news out of the biopharmaceutical company today. Hub24 (ASX:HUB) also jumped 9.7% today amid the surge in technology stocks. Block Inc (ASX:SQ2) rounds out the top three winners for today’s session, as the fintech company ended the day up just under 7.5%. Block Inc rounds out the top three winners for today’s session, as the fintech company ended the day up just under 7.5% on the back of a strong session on the Nasdaq overnight for Block shares in addition to a bullish broker note out of Deutsche Bank.On the losing end of the market, Sayona Mining (ASX:SYA) tumbled 7.8% despite announcing it has launched a Pre-feasibility study for the Moblan lithium project, targeting further expansion of its Quebec lithium base, with the PFS expected to be complete by May 2023. Ramelius Resources (ASX:RMS) fell 4.8% today and Sims (ASX:SGM) lost 3.5%. The most traded stocks by Bell Direct clients today were BetaShares Strong Bear Hedge Fund (ASX:BBOZ) , Pilbara Minerals (ASX:PLS) and Whitehaven Coal (ASX:WHC). Final retail sales data for August was released today showing sales rose 0.6% for the month which was in-line with market expectations. A number of Federal Reserve policymakers spoke today, with each pushing the case of the need for the Fed to continue acting aggressively in raising interest rates in the US to cool inflation.

Taking a look at global markets, overnight in the US the three key indices are trading sharply higher just after midday in the US with a few more hours of trade left for Tuesday’s session. The Dow Jones, Nasdaq and S&P500 are each up over 2% today so far. Job Openings in the US fell 10% in August which is a sign the tight labour market is starting to cool.In the UK, the FTSE100 jumped 2.57% on Tuesday extending the rally in the region after Britain’s decision to ditch part of a controversial tax-cut plan and cool expectations for aggressive central bank rate hikes which returns some confidence to investors.What to watch today:Over in Europe, Germany’s DAX soared 3.78% and the French CAC had the biggest gain of 4.24% on Tuesday.The local market soared 3.75% yesterday after the RBA’s interest rate hike came in lower than the markets had expected. And in true big bank style, Nab was the first to pass on the full 0.25% rate hike to its variable loan customers, but is ‘constantly reviewing’ the rate hike for its term deposit clients.Taking a look at commodities, Brent crude oil prices have fallen 25% over the September 2022 quarter to US$86/bbl, the lowest level since Russia’s invasion of Ukraine. Concerns of slowing economic growth and China’s ongoing pursuit of zero COVID-19 cases remain, underpinning a weak short-term demand outlook for crude oil. An OPEC+ meeting is scheduled this Wednesday; reports suggest the organisation will consider cutting daily production rates by 1MMbbl/day (around ~1% of world supply) to “stabilize prices” which has seen brent crude oil up more than 4% this week, trading at US$91.457/barrel. Iron ore is trading flat at US$98/tonne, gold is up 1.37% at US$1722.46/ounce, and natural gas is trading 5.82% higher.ASX futures are expecting the local market to open sharply higher by 1.4% amid the global rally and to extend on yesterday’s surprise RBA rate hike decision-fuelled rally locally.On the economic data front for today, there is no local data released today however overseas in the US investors will be eager to see America’s trade balance data for August to determine whether the world’s largest economy continued importing more than it exported for that month, with the market expecting a slight improvement on the trade deficit to -US$67.7bn.Trading Ideas:Trading Central has identified a bullish signal on QBE Insurance (ASX:QBE) following the formation of a pattern over a period of 15-days which is roughly the same amount of time the share price may rise from the close of $11.79 to the range of $12.80-$13.10 according to standard principles of technical analysis.Trading Central has also identified a bullish signal on Sigma Healthcare (ASX:SIG) following the formation of a pattern over a period of 16-days which is roughly the same amount of time the share price may rise from the close of $0.68 to the range of $0.77-$0.79 according to standard principles of technical analysis.  

A good day on the ASX today with the local market soaring on the back of the global rally overnight and of course the RBA’s surprise interest rate hike of just 0.25% or 25 basis points which was below the expected 0.5% rise markets were anticipating.RBA treasurer Jim Chalmers said despite the rate hike being less than expected, the 25 basis rate rise won’t make it much easier for Australians. In true big bank style, NAB has already announced it will raise its variable lending rates by 0.25% in response to the RBA’s rate hike today, passing on the full interest rate rise to customers. As a result of the lower-than-expected rate hike, the local market soared to close the session up 3.75% with every sector ending the day in positive territory.A surge in technology stocks led the market gains today as tech stocks are heavily reliant on borrowings to build their businesses in the growth stage, therefore the RBA’s announcement of the rate hike coming in under expectations gives some borrowing relief for technology stocks.Investors piled into emerging lithium producer Sayona Mining today after the company announced it is fast-tracking plans to move downstream in Quebec, with the launch of a pre-feasibility study by Sayona Quebec to consider the potential for lithium carbonate production at the North American Lithium Operation.Lithium stocks across the board rallied today following the release of the Industry Department’s latest quarterly Resources and Energy report outlining that 75% of the world’s lithium consumption goes into rechargeable batteries and EV sales expected to grow tenfold over the next decade which places Australia, the world’s biggest exporter of lithium, in a good position to produce 46% of the world’s lithium supply. Lake Resources (ASX:LKE) led the ASX200 gains today, jumping 14.5%, while Pilbara Minerals (ASX:PLS) added 12.31%.And on the losing front, it was just Lottery Corp (ASX:TLC) on the ASX200 that posted a slim loss of 0.24% today.The top traded stocks by Bell Direct clients today were BetaShares Geared Australian Equity Hedge Fund (ASX:GEAR), Pilbara Minerals (ASX:PLS), and ANZ (AXS:ANZ).On the economic data front, US JOLTs job openings for August data will be released overnight, while local investors will be anticipating the release of Australia’s trade balance data for August which is out on Thursday to see whether the country’s export surplus continued declining for the month.

The US Market has started the new month and quarter on an upbeat note as weaker than expected manufacturing data prompted investors to rethink how aggressive the Fed’s upcoming interest rate hikes will be as the economy is starting to show small signs of slowing. The Dow Jones industrial Index posted the biggest gain of 2.66% at the Closing Bell, while the tech-heavy Nasdaq closed 2.3% higher, and the S&P500 added 2.6%. US government bonds also rallied sharply on the first trading day of the fourth quarter with the yield on the 10-year Treasury note sliding 0.18 percentage points as it’s price rose. Lawmakers in Russia’s lower House of Parliament have unanimously approved moving forward with absorbing full Ukrainian territories captured into Russia despite battlefield setbacks and a lack of control over the four new areas. Ukrainian President Volodymyr Zelensky has vowed to retake all land seized from his nation.Watch to watch today:The new month rally extended into Europe with Germany’s DAX adding 0.8%, and the French CAC lifting 0.55% to start the new month.Over in The UK, the FTSE100 followed the global rally but investors were less confident, with the UK’s key index closing Monday’s session just 0.22% higher.The rally was fuelled by new UK Prime Minister Liz Truss saying the UK economy needs a reset and has pledged to prioritise ‘aspiration, enterprise and growth’. Ms Truss’ government also scrapped plans to reduce taxes on the UK’s higher earners.Taking a look at commodities, Brent crude settled 4.08% higher at US$88.61/barrel, gold is trading 2.43% higher at just under US$1700/ounce, but iron ore is down almost 3% at US$98/tonne.Ahead of the local trading day, ASX futures are expecting the Australian market to open sharply higher by 1.58% buoyed by the global rally overnight.On the economic data front, investors will be keeping a close eye on the RBA’s interest rate decision for Australia’s cash rate this month which is out at 1:30pm eastern daylight savings time today. New home loans and building permits data for August are also released today which will give an insight into the country’s building and property market for August. Trading Ideas:Bell Potter has maintained a buy rating on Cogstate (ASX:CGS) and increased its price target on the neuroscience technology company from $1.95/share to $2.20/share driven by a modest decline in weighted average cost of capital due to decreased risk associated with future earnings, FDA regulatory approval and CMS imbursement and the evolving clinical trial execution of the Eisai strategy involving its ‘Dementia Ecosystem’.And Trading Central has identified a bearish signal on Ridley Corp (ASX:RIC) following the formation of a pattern over a 33-day period, which is roughly the same amount of time the share price may fall from the close of $1.99 to the range of $1.70-$1.76 according to standard principles of technical analysis.

The Australian market see-sawed between positive and negative territory today before closing the first trading session of the week down 0.27%, as a sharp sell-off in technology stocks weighed on the key index amid rising global recession fears among investors. The energy sector was boosted today by an increase in oil prices as OPC+ considers cutting oil production. The stocks that led the market gains today were Capricorn Metals (ASX:CMM) which lifted 3.33%, Origin Energy (ASX:ORG) added 2.9% and Iluka Resources (ASX:ILU) ended the day up 2.87%. Biotechnology company Mesoblast (ASX:MSB) also jumped more than 8% today after providing an update on its application to the US FDA, outlining the company has supplied the FDA with ‘substantial new information’ on the use of remestemcel-L in the treatment of children with steroid-refractory acute graft versus host disease. The information was supplied in response to the Complete Response Letter received from the FDA in September 2020 and is a ‘major milestone’ for Mesoblast’s complete response to the FDA. And the stocks that weighed down the market, dragging the key index to the negative close today were West African Resources (ASX:WAF) which tumbled 10% today after providing an update on its operations in Burkina Faso to share that following a change in the military leadership in Burkina Faso over the weekend, its staff and contractors are safe, and the company’s Sanbrado Gold Operations continue to operate as normal. The political situation appears to be due to internal disagreement within the Burkina Faso military leadership, with the company saying it is continuing to monitor the situation. Core Lithium (ASX:CXO) also declined more than 7% during the session today after the company completed its underwritten Placement of ~97.1m shares at $1.03/share to raise $100m. And Ramelious Resources (ASX:RMS) fell 5.6% today. The top traded stocks by Bell Direct clients today were Vanguard Australian shares index ETF (ASX:VAS), Brambles (ASX:BXB) and Macquarie Group (ASX:MQG) The dreaded RBA rate decision day is tomorrow, with investors anticipating just how dovish or hawkish the RBA will be when deciding the nation’s interest rate hike for October. Data for New home loans generated in the month of August is also out tomorrow which will give an insight into Australia’s property sector, with the market expecting a decline of 3.5% for the month.

The local market’s rally on Thursday was short lived with the key index closing Friday’s session down 1.23%, down 1.53% for the week, and plunged 7.5% for the month of September amid the global sell-off as recession fears mount in the US. Several policy makers spoke late last week signalling further rate hikes are required for the foreseeable future to cool inflation into the target range.Nine of the eleven sectors on the ASX closed Friday’s session in negative territory, while Gold mining stocks offset some of the markets sell-off by surging more than 3.5% amid a rise in the price of the precious commodity and on the back of the Bank of England’s decision to buy $65bn pounds worth of UK government bonds to stabilise the UK pound.The winning stocks on Friday were Capricorn Metals (ASX:CMM) which added 8.70%, Silver Lake Resources (ASX:SLR) jumped 7.27% and Regis Resources (ASX:RRL) lifted just under 7%. On the losing front, Carsales.Com (ASX:CAR) took the biggest hit on Friday, ending the day down 7.8% amid sliding investor sentiment in tech and growth stocks. Cochlear (ASX:COH) also shed 6.6% despite no price sensitive news released by the medical device company, and Wisetech Global (ASX:WTC) fell 5.6% also due to the broad tech sell-off and on the back of global shipping volumes declining, showing slowing growth for the sector Wisetech operates in.The most traded stocks by Bell Direct Clients on Friday were BetaShares Geared Australian Equity Hedge Fund (ASX:GEAR), Macquarie Group (ASX:MQG) and New Hope Corporation (ASX:NHC).What to watch today:Overseas on Friday, the global market sell-off continued, with US stocks recording the longest run of quarterly declines since the GFC in 2008. The Dow Jones industrial index and the tech-heavy Nasdaq closed out the third quarter with their heaviest losses of the year, down 1.7% and 1.5% respectively, while the S&P500 notched out its third straight quarterly loss, ending Friday’s session down 1.5%. Investor sentiment has been increasingly dampened of late following the Fed Reserve’s aggressive rate hikes in attempt to cool the nation’s red-hot inflation, that remains stubbornly high.Over in Europe, new data released shows the Eurozone inflation rate hit 10% in September as Russian efforts to slim the regions gas supplies drove energy prices higher. Despite European markets ending Friday’s session higher, with Germany’s DAX up 1.16% and the French CAC adding 1.5%, the pan-European STOXX600 had it worst performing month since June, declining 7.8% over September as global markets struggle to overcome investor fears of slowing growth and possible recession.The Bank of England intervention-fuelled rally cooled on Friday with the FTSE100 closing Friday’s session just under 0.2% higher for the day amid the global sell-off. Retail stocks in the UK were hardest hit, with Next Chief Executive Simon Wolfson offering some support for the UK government’s tax cut policies, but told the Standard he fears the borrowing costs they will incur.Ahead of the local trading day today, the ASX futures are expecting the market to open just 0.08% higher to start the new month in positive territory.Taking a look at economic data, investors will be anticipating the release of the RBA’s latest interest rate decision out on Tuesday to determine if the central bank really is committed to lower interest rate hikes, or whether the latest set of aggressive global interest rate hikes will prompt the RBA to follow suit.On the commodities front, crude oil has plunged 1.88% to trade at US$79.70/barrel, Brent is down 2.1% to trade at US$85.35/barrel, Gold is trading just 0.01% higher at US$1660.52/ounce while iron ore is down almost 3% at US$98/tonne.And to start the new trading week off, let’s dive into some trading ideas for your consideration.Trading Ideas: Trading

Investors are steering clear of the real estate sector around the world. Locally, the Aussie share market declined 0.3% this week (Mon-Thu), despite the rally later in the week. Energy stocks took a hit as commodity prices plunged with many seeing a buying opportunity. In this week's wrap, Grady covers:(0:13) What happened to REIT stocks this week(2:59) The ASX dipping to a three-month low(3:44) Why energy stocks took a hit(4:09) The biggest news on the All Ords this week(4:41) The most traded stocks & ETFs by Bell Direct clients (5:09) Two economic news items to watch out for

As recession fears continue, there was a broad market sell-off overnight. In the US, the sell-off was led by Apple, which dropped after a major investment bank downgraded the tech giant. This saw the Nasdaq tumble 2.8%, while the Dow Jones dropped 1.5% and the S&P500 closed with a new low for the year, down 2.1%. The major averages are on track for a losing week and a month of losses, with the Nasdaq leading the months losses, down 9% for September. What to watch today:Following US equities overnight, the SPI futures are suggesting our local market will drop 0.34% at the open this morning. And following the Nasdaq’s sharp drop, keep watch of ASX-listed tech stocks today, as they may mirror the overnight sell-off. Today continue to watch AGL Energy (ASX:AGL), after yesterday announcing it’s fast tracking its exist from coal. In commodities, oil is trading lower, so watch energy producers such as Beach Energy (ASX:BPT) and Woodside Energy (ASX:WDS). The price of gold edged higher overnight, which may boost gold miners such as St Barbara (ASX:ASB) and Newcrest Mining (ASX:NCM), while iron ore is trading flat. And we may see the price of Nick Scali (ASX:NCK) fall, as the stock is set to go ex-dividend today. Trading Ideas:Bell Potter maintain a Speculative Buy rating on Boss Energy (ASX:BOE), after the company reported full year 2022 results, ahead of Bell Potter’s expectations at the NPAT level, and in-line with their EBITDA estimates. They’ve increased their valuation from $3.32 to $3.51. At BOE’s current share price of $2.35, this implies 49.4% share price growth in a year. Trading Central have identified a bullish signal in Medibank Private (ASX:MPL), indicating that the stock price may rise from the close of $3.52 to the range of $3.85 to $3.93 over 22 days, according to the standard principles of technical analysis.

The local market followed the global overnight rally to close the second last trading session of the week up 1.44%, driven by a surge in energy and materials stocks. Every sector of the local market closed in positive territory today as investor sentiment both locally and globally is boosted by the Bank of England’s promise to buy $65bn pounds of sterling bonds to stabilise the UK’s bond market. Energy stocks led the markets higher today following the European Union’s renewed push for further sanctions on Russian commodities, and the subsequent sharp rise in commodity prices earlier today.A number of big announcements were released today that impacted specific company share prices, including Premier Investments releasing FY22 results including record dividends and a strong start to FY23 with sales up globally by 46% already.AGL Energy (ASX:AGL) also announced today it is fast tracking its exit from coal by closing Australia’s biggest-emitting power plant 10-years earlier than previously planned which is expected to reduce AGL’s annual greenhouse gas emissions from 40 million tonnes to net zero on achieved target closure.Taking a look at the best performing stocks today, Premier Investments soared 14.6% today on the release of strong FY22 results, Coronado Global Resources (ASX:CRN) also added more than 8% and De Grey Mining (ASX:DEG) finished the session 6.7% higher. On the losing front, IRESS (ASX:IRE) hand plunged 17% today after downgrading its full-year profit guidance due to ‘macro conditions’, with the company now expecting profit for the financial year to be between $166m-$170m, down from the original guidance of $177m-$183m. Bega Cheese (ASX:BGA) fell 1.41% today and Karoon Energy (ASX:KAR) declined 1.4%.The most traded stocks by Bell Direct clients today were New Energy Solar (ASX:NEW), BetaShares Geared Australian Equity hedge fund  (ASX:GEAR) and Whitehaven Coal (ASX:WHC).On the economic data front, the release of early indication CPI data for August out showing the country’s inflation rate is expected to rise 7% in the year to July and 6.8% to August. The information released provides an early indication of September quarter CPI inflation that will be published later in October. The largest contributors to inflation in August were new dwelling construction up 20.7% and automotive fuel up 15%. The slight fall in inflation from July to August is mainly due to a decrease in prices for automotive fuel. The 6.8% rise for August shows the country’s inflation is not accelerating.

 The Australian market reversed early gains on Wednesday to close the midweek session 0.5% lower, as investor concerns over the RBA further tightening Australia’s monetary policy were enhanced after stronger-than-expected retail sales were reported for August, up 0.6% to $34.88 billion. The higher-than-expected retail sales support the case for the RBA to raise interest rates by another 0.5% at the next meeting on Tuesday. Tech stocks took the biggest hit on Tuesday, declining 1.6% as a sector while Utilities rose almost 2%. The winning stocks for the midweek session were Coronado Global Resources (ASX:CRN), which added 5.9%, while Ramelius Resources (ASX:RMS) jumped 5.4% and Whitehaven Coal (ASX:WHC) extended its rally, adding another 3.9%. On the losing end of the market, Telix Pharmaceuticals (ASX:TLX) plunged 15.40% after the biopharmaceutical company announced a big blow to its global expansion with the company withdrawing its Marketing Authorisation Application for its Illucix drug in Europe based on regulators requesting additional Chemistry, Manufacturing and Control data which Telix says cannot be delivered within the prescribed review timeframe. Investors also sold out of Core Lithium (ASX:CXO) shares yesterday as investors may be taking profit from the company’s surge of 175% over the last year.Imugene rounded out the bottom three stocks for Wednesday, ending the day down 5.3%. The most traded stocks by Bell Direct clients yesterday were the BetaShares Geared Australian Equity (Hedge Fund) (ASX:GEAR), Silver Lake Resources (ASX:SLR) and South32 (ASX:S32). Overseas, it was a positive day across most major markets following a move by the Bank of England to put a floor on UK assets overnight. The BoE is stepping in to buy $65 billion pounds of sterling bonds to stabilise the UK bond market, with investors confident that the UK government can pay back their debt, after the new government’s tax cut promise triggered the biggest sell-off in decades. The FTSE100 ended the midweek session up 0.3%. Over in New York the three key indices posted strong gains on Wednesday amid the recovery in the British pound, while retail investors remain interested in Apple and Tesla shares. The Nasdaq posted the greatest gain of 2.05%, while every sector of the S&P500 closed higher with the index adding 1.97%, and the Dow Jones rallied 1.88%.Germany’s DAX and the French CAC also followed suit, each adding 0.36% and 0.19% respectively. The European Union is proposing a new set of sanctions against Russia. The package would affect $7 billion Euros of Russian exports and would ban the sale of new technologies to Russia and they’d also start paving the way for an international price cap on Russian oil. What to watch today:Commodities have sharply rebounded overnight following the European Union’s proposed new sanctions on Russia, with the price of Crude oil rocketing 4.31%, while Brent is up 3.21% at US$89.04 per barrel, Natural gas is 3.31% higher and gold is up almost 2% at US$1660.50 per ounce.Ahead of the local trading day, ASX futures are anticipating the market to bounce back from its red-close on Wednesday to trade sharply higher by 1.52% at the opening bell on Thursday amid boosted sentiment in markets around the world.The stocks trading ex-dividend today are Link Administration Holdings (ASX:LNK), Sigma Healthcare (ASX:SIG), and Energy One (ASX:EOL), which could be a good opportunity to buy in if you have been thinking about these stocks as stocks going ex-dividend generally trade lower on the ex-dividend date.On the economic data front, today there is no local data released however investors will be awaiting the release of US initial weekly jobless claims to gain insight into America’s tight labour market. A number of Fed officials also deliver speeches today which could sway investment decisions on Thu

US markets were mixed overnight following a number of Federal Reserve policymaker speeches showing an increased appetite for further rate hikes even at the risk of throwing the economy into a recession. The Dow Jones industrial index ended the session down 0.43% and the S&P500 lost 0.21% to hit a two-year low, but the tech-heavy Nasdaq posted a gain of 0.25%. Over in London, stocks on the FTSE 100 were knocked down by rate rise worries as the central bank may look to raise rates further to support the hammered British pound, with the index closing the session down 0.52%. The global market sell-off extended into Europe with Germany’s DAX and the French CAC declining 0.72% AND 0.27% respectively on Tuesday.What to watch today:Russia’s rationing of natural gas and energy commodity withdrawal to Europe continues to fuel concerns over an energy crisis in the region, which led to a rally for local energy sector on Tuesday especially for coal producers. Russia’s moves to ration and withdraw commodities from Europe have caused countries in the region to invest more in coal to keep the electricity on in the region as winter fast approaches. ASX-listed coal mining and energy stocks have benefitted from the growing energy crisis in Europe by signing commodity supply deals.Taking a look at the turbulent commodity prices, over the last few days we’ve seen a rebound with brent crude oil now trading 2.6% higher around US$86.2 per barrel, coal is up 0.64% around US$438 per MT, but natural gas is down 3.14%. The recent dive in gold prices eased overnight as the dollar rally took a breather, with the price of the precious metal trading 0.66% higher at US$1,632 per ounce.Ahead of the local session today, the ASX futures are expecting the local market to follow the global sell off, anticipating a 0.68% decline when the market opens.Stocks going ex-dividend today include Myer Holdings (ASX:MYR) and Cedar Woods Properties (ASX:CWP). If you have been thinking about these stocks it might be worth considering buying in today as stocks going ex-dividend generally trade lower on the ex-dividend date.There is no local economic data set to be released today, but over in the US New Home Sales data for August was released overnight at a 5-month high of 685K for the month, which is an increase of 28.8% on July and beat market expectations of 500K.Trading Ideas:Bell Potter has initiated coverage of DroneShield (ASX:DRO) with a Speculative Buy rating on this stock and a price target of $0.24 per share, for the reasons that Bell Potter believes DRO is well placed to capitalise on favourable macroeconomic conditions accelerating structural growth in the market, with the strong sales pipeline identified by the company demonstrating long-term demand. The rating and price target are also based on the fiscal support DRO receives from the Australian government’s $270 billion funding for domestic defence, comprehensive product offering by the company and opportunity for growth in adjacent markets.Trading Central has identified a bearish signal on Orora (ASX:ORA) following the formation of a pattern over 334 days which is roughly the roughly period the of time in which the target price range between $1.95 and $2.15 may be achieved, according to standard principles of technical analysis.

The local market took no lead from Wall Street’s overnight sell-off, as the ASX closed Tuesday’s session 0.41% higher, led by a rally for materials stocks, which boosted the key index to a positive close.Oil and gas giant Santos (ASX:STO) today announced it received a binding conditional offer from Papua New Guinea’s national oil and gas company, Kumul Petroleum to acquire an additional 5% project interest in PNG LNG for asset value of US$1.4 billion, including a proportionate share of project finance debt of approximately US$0.3 billion. Should the deal be approved, Kumul Petroleum will own 22% of PNG LNG while Santos’ shareholding will drop to 37.5%. Shares in Santos (ASX:STO) rose 1% today.MetalsGrove Mining (ASX:MGA) skyrocketed 61% today after announcing significant lithium pegmatite potential has been identified at the company’s Upper Coondina Lithium Project in Western Australia during pre-drilling surface mapping at the site.A rally for coal miners today was due to ongoing concerns of a European energy crisis as the continent faces a shortage of gas and coal following Russia’s energy commodity withdrawals and rationing since earlier this year. Whitehaven Coal (ASX:WHC) and New Hope Corporation (ASX:NHC) each added over 6% today.Taking a look at the best performing stocks today, BrainChip (ASX:BRN) jumped 7.23%, Megaport (ASX:MP1) added almost 7% and Pilbara Minerals (ASX:PLS) shared climbed just over 6%. And the stock hit the hardest by investors selling out today was Core Lithium (ASX:CXO), which fell more than 5.5% despite the company releasing a business and drilling update today including the Finniss operations uncovering first spodumene Ore in September and the BP33 exploration having high-grade spodumene bearing pegmatite intersected in multiple holes. Fisher and Paykel Healthcare (ASX:FPH) also lost almost 5% today while Ramsay Healthcare (ASX:RHC) fell 3.5%.The most traded stocks by Bell Direct clients today were Whitehaven Coal (ASX:WHC), New Energy Solar (ASX:NEW) and the BetaShares US Equities Strong Bear Hedge Fund (ASX:BBUS).Taking a look at economic data, US durable goods orders data for the month of August is out tonight, with the market expecting a decline of 0.4% after a decline in orders for transport equipment weighed down US durable goods orders in July.US new home sales for August data is also out at midnight tonight, giving an insight into the current condition of the property market in the US amid the Fed’s aggressive interest rate hike strategy to curb the country’s inflation.

Trading overnight was quite volatile for the first session of the week in New York. US equities were sold off towards the end of the day and all three major averages closes in the red. The Dow Jones fell into bear market territory, down 1.1%. It’s down approximately 20% from its closing high on the 4th of January. The S&P500 notches a new closing low for 2022, declining 1.03% to 3,655; that’s below its June closing low of 3,666. And the tech heavy Nasdaq dropped 0.6%. What to watch today: Despite the risk-off sentiment across global equity markets this week, the SPI futures are suggesting that the Australian market will rise 0.26% at the open this morning. Commodities however are a sea of red: Oil prices have dropped almost 3% to a near 9-month low, amid concerns that monetary tightening by central banks worldwide would dampen energy demand and derail global growth. Gas, copper, zinc and nickel are all trading lower. The price of gold hit its lowest level since April 2020, due to a rallying US dollar and surging Treasury yields. However, iron ore has notched slightly higher, trading up 0.5%. Companies set to release their earnings results today include Core Lithium (ASX:CXO) and De Grey Mining (ASX:DEG). The ASX (ASX:ASX) is set to hold its AGM today. Trading Ideas:Bell Potter maintain a Speculative Buy rating on Clarity Pharmaceuticals (ASX:CU6) with a price target of $1.00. At its current share price of $0.65, this implies 53.8% share price growth in a year. And Trading Central have identified a bearish signal in Newcrest Mining (ASX:NCM), indicating that the stock price may fall from the close of $15.76 to the range of $14.80 to $15.10, over 16 days according to the standard principles of technical analysis. 

The Australian market dipped to a 3-month low during today’s session amid global recession fears, oil prices diving and the US dollar surging to a fresh-peak. The ASX200 closed the first trading session of the week down 1.6%.The ASX was also sold-off as the UK pound nosedived to a new record low US$1.035 on the promise of new tax cuts in the UK’s mini-budget as investors fear a surge in government borrowing to pay for the huge tax cuts.The energy sector which is leading the gains in 2022, was hit hard today with the sector experiencing its worst session since March 2020, as oil prices continue to plunge. The price of brent is down a further half a percent today at US$85.76 per barrel, while crude oil is down 0.54% at US$78.31 per barrel today. Whitehaven Coal (ASX:WHC) led the losses on the energy sector, down 11% today, wiping off some the coal producers’ recent gains.The winning stocks today were Nanosonics (ASX:NAN), Megaport (ASX:MP1) and REA Group (ASX:REA), which are part of the technology sector that gained more than 1% today. And on the losing side, New Hope Corporation (ASX:NHC) took the biggest hit today, diving almost 15%, followed by Costa Group (ASX:CGC) plunging just over 14% today after the company announced it is back on the hunt for a new CEO just 18-months after Sean Hallahan will step down with effect from today, September 26, 2022, just 18-months after the biggest leadership change in ASX history.The most traded stocks by Bell Direct clients today were Whitehaven Coal (ASX:WHC), Argosy Minerals (ASX:AGY), and BHP Group (ASX:BHP).On the economic data front, it’s a slow week for the release of any economic data that will come as a slight relief for investors who have been very responsive to crucial economic data that has been released of late.

The Australian market closed Friday’s session sharply lower, down 1.87% with all 11-sectors of the index closing in negative territory, following the Fed’s latest interest rate hike in the US causing investors to flee stocks in favour of cash in markets around the world. The riskier sectors such as consumer discretionary and tech stocks took the biggest hit on Friday, with those two sectors closing the session down 4.44%.The winning stocks on Friday were New Hope Corporation (ASX:NHC), Whitehaven Coal (ASX:WHC) also extended its green-run of late and Rio Tinto (ASX:RIO) closed Friday almost 2% higher. On the losing side, Block (ASX:SQ2) formerly known as Square fell almost 9% on Friday amid the tech and growth stock sell-off, while Xero (ASX:XRO) and Arena REIT (ASX:ARF) also each lost 7.8% and 6.8% respectively.The most traded stocks by Bell Direct clients on Friday were Macquarie Group (ASX:MQG), Terracom (ASX:TER) and the Vanguard Australian Shares Index ETF (ASX:VAS).Overseas, the US markets were sharply sold off on Friday as investors continue responding to the Fed’s latest 0.75% interest rate hike. The Dow Jones closed at a new 52-week low, down 1.62%, the Nasdaq lost 1.8% and the S&P500 fell 1.72%. Bond yields jumped last week around the world as a result of rising interest rates, which signals a warning of market distress as higher bond yields create more capacity for funds that may otherwise go into the stock market. The Bank of England also raised the UK’s interest rate by 0.5% to 2.25% to tackle the UK’s worst bout of inflation in 40-years. As a result, the FTSE100 and UK markets were sold off, with the FTSE100 closing Friday’s session down almost 2%. Germany’s DAX closed the last trading session of the week also down 1.97% and the French CAC took the biggest hit, down 2.28% on Friday.What to watch today:Ahead of the local trading day, markets are expecting a sharp 1.25% decline upon open as investor sentiment is dampened by rising interest rates around the world.The stock going ex-dividend today is IMDEX Limited (ASX:IMD), which could be a good opportunity to buy in if you have been thinking about these stocks as stocks going ex-dividend generally trade lower on the ex-dividend date.Taking a look at commodities, global recession fears have caused commodity prices to plunge with crude trading at an eight-month low, down 5.7% around US$78.74 per barrel, brent is down 4.15% at US$86.71 per barrel, gold is down 1.6% lower at US$1643 per ounce, while iron ore is up 0.5% at US$101 per tonne.There is no economic data released today but US durable goods orders for August is out on Tuesday while New Home Sales data in the US for August is released on Wednesday.Trading Ideas:Trading Central has identified a bullish signal on Technology Metals Australia (ASX:TMT) following the formation of a pattern over a period of 69-days indicating the stock price may rise over this same amount of time from the close of $0.35 per share to the range of $0.48 to $0.52 according to standard principles of technical analysis.Bell Potter has downgraded its price target on Catapult Group (ASX:CAT) to $1.10 from $1.00 but maintains a hold rating on the global sports analytics company amid downgraded revenue forecasts over the coming financial years as well as market movements and lower expected top line growth.

US equities closed in the red for the third straight day, as mounting fears that the Federal Reserve’s aggressive rate hikes will push the economy into a recession. The session put the major averages on pace to close the week with losses. The Dow Jones closed 0.35% lower, the S&P500 down 0.8% and the Nasdaq down 1.4%. Investors have been selling stocks following another rate hike from the Fed on Wednesday night. Bond yields surged again – the yields on the 10-year and 2-year Treasury notes notching fresh multiyear highs, hitting their highest levels since February 2011 and October 2007 respectively.  European stocks ended the day lower, after central banks in Switzerland and the UK, announced interest rate hikes. The Bank of England raised interest rates by 50 basis points, its seventh consecutive hike. What to watch today:The Australia market is set to fall 0.26% at the open this morning.In commodities, oil is trading higher, recovering from two consecutive sessions of losses, as hopes of higher Chinese demand and geopolitical tensions, more than offset global growth worries. Gold is in the red, sliding back towards the lowest levels in over two years. And iron ore has dropped to its lowest in nearly 10 months. Watch the share price movements today of Chalice Mining (ASX:CHN), which is set to release its earnings results today, and of Suncorp (ASX:SUN), which is set to hold its AGM today. Stocks going ex-dividend today include Vita Life Sciences (ASX:VLS) and Vulcan Steel (ASX:VSL).  Trading Ideas:Citi maintain a Buy rating on building products and services company Brickworks (ASX:BKW). The company’s financials beat market consensus, with underlying profit rising by 159% on last year. While uncertainty is rising in the macro-outlook, Citi note that Brickworks management are confidence of growth with the property business in FY23. BWK’s current share price is $21.69. If BKW meets the Citi price target of $26, it will return approximately 20%.

The local market dipped to a two-month low during today’s session before closing the day down 1.56% at a new 20-day low of 6700.20 points. The key index was weighed down by the materials, real estate and utilities sectors each falling more than 2% today, however every sector ended the midweek session in negative territory as investor sentiment was dampened by the global market sell-off overnight ahead of the Fed’s interest rate decision out tomorrow. Coal miners have been on a run this week, none more so than Whitehaven Coal (ASX:WHC), with the company’s shares surging to a record high $9.16 during today’s session. Investors piled in after the coal miner issued a notice of AGM to its shareholders which includes two resolutions seeking shareholder approval to extend the company’s share buy-back programme. For the year, WHC reported WHC is on-track to complete the 1st buy-back ahead of its AGM, where it will seek further approval for an on-market buy-back and an off-market buy-back, which if approved will give the board authorisation to acquire up to 240m shares in aggregate. Looking at the best performing stocks today, Washington H Soul Pattinson jumped almost 5% today after releasing FY22 results including cash flows from investments up 93%, net asset value up 71.6% and group regular profit after tax up 154.4%.Viva Energy (ASX:VEA) shares also rose 4.56% today, while Whitehaven Coal added almost 4%. On the losing side, Imugene (ASX:IMU) tanked 8% today despite announcing that its first patient has been dosed as part of intravenous cohort 1 in the Phase 1 MAST study evaluating the safety of novel cancer-killing virus CF33-hNIS (VAXINA). Sayona Mining (ASX:SYA) and Charter Hall (ASX:CHC) also each fell more than 5% today. The most traded stocks by Bell Direct clients today were Whitehaven Coal (ASX:WHC), Block (ASX:SQ2), and Argosy Minerals (ASX:AGY). On the economic data front, at 4am Australian eastern time tomorrow the Fed’s latest interest rate decision will be released, which has caused investor confidence to slump this week as markets are torn between expecting a 0.75% and 1% rate hike. Later tomorrow, the Bank of England will release its interest rate decision for the UK, with the market expecting a rise to 2.25% from the current 1.75%.

Taking a look at the markets overnight, in the US it was a choppy session that ended lower across the key indices as investor confidence slumped ahead of the release of the Fed’s interest rate decision out on Wednesday US time, Thursday our time – the Dow Jones closed Tuesday’s session 1.65% lower, the S&P500 lost 1.62% and the tech-heavy Nasdaq shed almost 1.5%. US housing momentum also fell for a ninth straight month in August as US mortgage rates climbed.The sell-off continued over in the UK and Europe with the FTSE100 losing 0.61% on Tuesday, while Germany’s DAX fell more than 1% and the French CAC shed 1.35%.What to watch today: Locally, the RBA’s meeting minutes released yesterday boosted investor confidence that the RBA is a global outlier in pushing ahead with a slower rate of interest rate hikes, a move that other central banks are not even considering yet. Investor sentiment was dampened in recent weeks after US inflation data revealed US CPI remains red hot and above market expectations, prompting the fed to likely introduce a 100 basis point or 1% rate hike on Thursday at the conclusion of the FOMC meeting.Energy, materials and utilities stocks led the market rally yesterday, with New Hope Corporation (ASX:NHC) soaring almost 9% after releasing stellar FY22 results including NPAT soaring over 1100%.Onto the commodities front, the price of commodities are down across the board today Trevor with, Crude oil trading 1.5% lower around 84 US dollars a barrel, Brent is trading, around 90 US dollars a barrel so nearly 2% lower, Iron ore is trading, 1.5% lower at 100 US dollars a tonne and Gold continues its slump, trading down 0.75% at 1663 US dollars an ounce.Ahead of the local trading session today, the ASX futures are expecting the market to open sharply lower around 1.45%, again following the global sell-off overnight.Stocks going ex-dividend today include Capitol Health (ASX:CAJ), Countplus (ASX:CUP), ADBRI (ASX:ABC), Cleanaway Waste Management (ASX:CWT) and Cochlear (ASX:COH). If you have been thinking about these stocks it might be worth considering buying in today as stocks going ex-dividend generally trade lower on the ex-dividend date.There is no local economic data news out today however investors will still be awaiting the release of the Fed’s interest rate decision which is out at 4am eastern time tomorrow morning.Trading Ideas:Trading Central has identified a bullish signal on Webjet (ASX:WEB) following the formation of a pattern over a 16-day period which is the same amount of time the stock price may rise from the close of $5.43 to the range of $6.15 to $6.35, according to standard principles of technical analysis.Bell Potter has downgraded its price target on Imugene (ASX:IMU) to $0.36 per share from $0.45 and has a speculative buy rating on this stock. The price target downgrade follows Bell Potter identifying the need for the company to raise capital to support its clinical trial programs through the issuing of 400m new shares at $0.20 per share. Bell Potter also notes the company is executing quite a few trials over the next year where investors will be keeping a close eye on the results to determine just how valuable the company’s biotechnology operations are.

The local market recovered from the recent inflation-related sell-off today, sharply rising 1.29% to close the session in positive territory, driven by a surge in energy, materials and utilities stocks today amid the rising price of commodities. Crude was up 0.34% today and natural gas rose 1.6%. The story of the day was IDP Education (ASX:IEL) entering a binding agreement to acquire 100% of student placement agency Intake Education for up to $83m. Intake is a leading student placement agency with global operations and brings to IDP Education three decades of industry leadership in the UK-bound international education sector. Following the announcement, shares in IDP Education rose 2.66%.  Andrew Forrest’s Fortescue Metals Group (ASX:FMG) also revealed plans to execute a US$6.2b capital investment by 2030 to eliminate fossil fuel risk and reduce operating costs by US$818m per year, in another step for the company to achieve real zero terrestrial emissions across its iron ore operations by 2030.New Hope Corporation (ASX:NHC) added almost 9% after releasing FY22 results today including revenue up 143.5% and NPAT soaring 1,138.8% to $983m. The company also announced a fully franked 31 cents per share final dividend and a 25 cents per share special dividend. Brickworks (ASX:BKW) also added 5.75% today and Mineral Resources (ASX:MIN) jumped 5.26%. On the losing side, Abacus Property Group (ASX:ABP) took the biggest hit today, closing the session down 2.21%, while Telix Pharmaceuticals (ASX:TLX) and AMP (ASX:AMP) also lost over 2% each. The top traded stocks by Bell Direct clients today were Whitehaven Coal (ASX:WHC), New Hope Corporation (ASX:NHC), and the BetaShares Geared Australian Equity Hedge Fund (ASX:GEAR). In economic data, investors will be awaiting the release of the US Fed’s interest rate decision for September which is out at 4am AEST on Thursday morning.

The three US benchmarks closed higher to start the new trading week ahead of the Federal Reserve’s two-day policy meeting set to kick off on Tuesday. The Dow Jones jumped nearly 200 points and the S&P500 and Nasdaq both closed around 0.7% higher. Yields also pushed higher. The 10-year Treasury yield hit as high as 3.51%, its highest level in 11 years. Across the sea in Europe, markets closed mixed, as investors await the Fed’s decision.What to watch today:The SPI futures are suggesting that the ASX200 will open 0.82% higher after Wall Street’s positive session.In economic news, today the latest minutes from the RBA’s most recent Board meeting will be published. Core Lithium (ASX:CXO) is expected to release its annual results this week, so keep an eye on this lithium stock. In commodities:Oil prices lifted slightly higher as worries of tight supply outweighed fears that global demand could slow. The crude oil price currently trades around US$86 a barrel. The gold price traded flat as the US dollar and Treasury yields rose. The spot iron ore price traded nearly 3% lower to US$101 a tonne. Keep watch of iron ore stocks like Fortescue Metals (ASX:FMG) and BHP Group (ASX:BHP).If you hold Coronado Global Resources (ASX:CRN) or Shaver Shop Group (ASX:SSG) you will receive your dividend payment today.  Trading Ideas:Bell Potter have maintained its Buy rating on neuroscience technology company, Cogstate (ASX:CGS), and have reduced its price target from $2 to $1.95. Its technologies provide rapid, reliable, and highly sensitive computerised cognitive tests to replace costly and error-prone paper assessments. At its current share price of $1.46, Bell Potter’s price target of $1.95 implies about 34% share price growth in a year.Trading Central has a bearish signal on AGL Energy (ASX:AGL) indicating that the stock price may fall from its close of $6.97 to the range of $6.00 - $6.20, in the next 8 days according to standard principals of technical analysis.