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.

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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.

The local market see-sawed throughout the first trading session of the week before closing the day down 0.28%, led by a sell-off in utilities and tech stocks, while real estate stocks recovered some losses from Friday’s sharp sell-off.Looking at the best performing stocks today, Lake Resources (ASX:LKE) recovered some of last week’s losses to close 12.37% higher today after the lithium miner released another update on its Kachi Lithium Project to alleviate investor concerns over the dispute with its project partner Lilac Solutions, with Lake Resources today saying that ongoing work is being done by Lilac and all parties are confident that on-site operations will be successful. Other stocks that investors bought into today included Pilbara Minerals (ASX:PLS) and a number of other lithium producers today as investors pile into the EV-battery metal sector today. Oz Minerals (ASX:OZL) and Sandfire Resources (ASX:SFR) also each added more than 3% today. Investors sharply sold out of Sayona Mining (ASX:SYA) shares today as today is the first day the company trades as part of the ASX200, while Magellan Financial Group (ASX:MFG) fell 5.75% today and Breville Group (ASX:BRG) lost 5.2%. Investors also fled buy now, pay later stocks today, which saw Block (ASX:SQ2) shares tumble 4.46%, as investors speculate an aggressive rate hike from the Fed’s in the US will be announced on Wednesday.The top traded stocks by Bell Direct clients today were Pilbara Minerals (ASX:PLS), Lynas Rare Earths (ASX:LYC), BHP Group (ASX:BHP), Fortescue Metals Group (ASX:FMG) and Allkem (ASX:AKE).Taking a look at economic data, tomorrow is the big release day of the RBA’s September meeting minutes which investors have been anticipating to determine whether the RBA really is dovish about the way forward for lower interest rate hikes or whether they will continue to aggressively act to curb inflation.

The Australian market closed sharply lower on Friday, down 1.52% as inflation panic set in causing investor confidence to tumble. Friday’s session was weighed down by a sharp sell-off in energy and materials stocks, but every sector closed the day in negative territory.The winning stocks on Friday were the Star Entertainment Group (ASX:SGR), which jumped 5.07% higher on ASX, Computershare (ASX:CPU) added 4.42% and Tabcorp (ASX:TAH) rallied just over 4.2% on Friday. On the losing side, Lake Resources (ASX:LKE) recovered almost 1% on Friday but the lithium miner fell 28% for the week as investors sold out after the company revealed it has a dispute over deadline dates at its Kachi Lithium Project with its partner Lilac Solutions. Capricorn Metals (ASX:CMM) was the worst performing stock on Friday, shedding 11.7% followed by Atlas Arteria (ASX:ALX), which lost 9.7% and Sayona Mining (ASX:SYA), which ended the day down 9.4%.The most traded stocks by Bell Direct clients on Friday were the BetaShares Geared Australian Equity Hedge Fund (ASX:GEAR), Silver Lake Resources (ASX:SLR), and Desert Metals (ASX:DM1).Over in the US, the inflation related sell-off extended into Friday to close out America’s worst trading week since June. The Dow Jones fell 0.45%, the S&P500 shed 0.72% and the Nasdaq had the biggest fall of 0.9%. Shares in FedEx plunged 21.4% in the company’s worst session ever after the shipments company withdrew its full-year guidance and said it will implement cost-cutting initiatives to navigate softer global shipment volumes as the global market has ‘significantly worsened’. Following the news, shares in rivals UPS and XPO Logistics each dropped 4.5% and 4.7% respectively. The global market sell-off extended into the UK and Europe with the FTSE100 closing Friday’s session 0.62% lower while the CAC and DAX each lost 1.3% and 1.6% respectively.What to watch today: Locally today, ASX futures are expecting the market to open marginally lower, around 0.03% at 6737 points which is a sharp rise from Friday’s sell-off.Stocks going ex-dividend today include Enero Group (ASX:EGG), Service Stream (ASX:SSM), IPD Group (ASX:IPD), and QUBE Holdings (ASX:QUB), 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, crude oil is flat trading around US$85 a barrel, Brent is up 0.99% at US$91.7 a barrel, natural gas is down 6.15% but gold is up 0.7% at US$1675.06 per ounce, and iron ore is down 2.9% to US$101.50 per tonne.On the economic data front, investors will be nervously awaiting the release of the RBA meeting minutes for September which are out on Tuesday to determine exactly how dovish the RBA is toward raising interest rates in the future, or whether there are hidden signals that future interest rate rises could be as aggressive as the previous few.Trading Ideas:Trading Central has identified a bullish signal on the Star Entertainment Group (ASX:SGR) following a short-term pattern forming over a period of 15-days which is the same time the upgraded price range between $3.04 to $3.08 may be achieved from the close of $2.90, according to standard principles of technical analysis.Bell Potter has initiated coverage on OreCorp (ASX:ORR) with a Speculative Buy rating on this stock and a price target of $0.84 per share following the major de-risking event of the completion of the Definitive Feasibility Study on the company’s prime asset, the Nyanzaga Gold Project, and ahead of the key catalyst of project financing. The NGP is emerging 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.

The Aussie share market declined 0.74% this week (Mon-Thu), as investors fear more aggressive rate hikes. US inflation data for August came in at 8.3%, above market expectations.   In this week's wrap, Grady covers:(0:08) The latest US inflation reading(0:54) Two FMCG stocks Bell Potter has its eye on(3:18) Why investors are embracing cash ETFs(4:00) Material stocks advancing despite market turbulence(5:38) The most traded stocks & ETFs by Bell Direct clients (6:08) Two economic news items to watch out for

Our local market closed with a 0.2% gain yesterday, with energy and financials advancing the most. On the prospect of the first strike by American railroad workers in 30 years, ASX coal producer’s rallied, lifting the energy sector higher. Coal stocks were the best performers, including Coronado Global Resources (ASX:CRN), New Hope Corporation (ASX:NHC) and Whitehaven Coal (ASX:WHC). Meanwhile, Lake Resources (ASX:LKE) dropped more than 12% yesterday. The most traded stocks by Bell Direct clients were Whitehaven Coal (ASX:WHC), Pilbara Minerals (ASX:PLS) and the BetaShares US Dollar ETF (ASX:USD). Wall Street extended losses overnight. The Dow Jones closed 0.6% lower and the S&P500 dropped 1.1%, with nine of the eleven industry sectors in the red. The Nasdaq was the worst performer as tech shares declined, down 1.4%. What to watch today:The local market is expected to slide this morning. The SPI futures are suggesting a fall of 0.73%. In economic data, yesterday the unemployment rate for August was released. It increased to 3.5%. In commodities:Oil has pulled back, trading more than 4% lower, after the US Department of Energy said that its plan of refilling the country’s strategic oil reserves, does not include a trigger price. This announcement has backtracked previous reports that the US would restock the emergency reserves, should prices fall below US$80, removing the potential price floor for oil. Gold has dropped to levels last seen in April 2020, due to an increasingly strong US dollar. Iron ore has pulled back, trading down 2.5%. Trading Ideas:Bell Potter maintain a Buy rating on Select Harvests (ASX:SHV) with a price target of $6.90. At the stock’s current share price of $5.65, this implies 24.1% share price growth in a year. Trading Central has identified a bullish signal in Coronado Global Resources (ASX:CRN), indicating that the stock price may rise from the close of $1.85, to the range of $2.17 to $2.27, over 31 days, according to the standard principles of technical analysis. 

US inflation came in hotter than expected this week, with consumer prices rising 8.3% year-over-year in August. However, what was even more concerning than the headline figure was the core inflation measure excluding volatile food and energy prices, which accelerated from 5.9% in July to 6.3% in August. Now, the interest rate futures responded to the inflation readings by pricing out any probability of a 0.5% hike at next week’s Fed meeting, and pricing in a 32% likelihood of a full percentage point hike, up from 0% probability one week prior.US equities overnight closed higher. The Dow Jones slightly higher, up just 0.1%, the S&P500 up 0.3% and the Nasdaq up 0.7%.What to watch today:Locally, the Australian market is set to open flat this morning, with the SPI futures suggesting a rise of just 0.09%. Investors are hoping for a more positive outlook today, after yesterday’s heavy sell-off.In commodities,Oil is trading just under 2% higher, as investors continue to assess the outlook for global demand. Oil stocks to watch include Santos (ASX:STO) and Woodside Energy (ASX:WDS).Gold is in the red, weighed down by a sharp US dollar, as the higher-than-expected US inflation figures fuelled expectations that the Fed will continue to raise rates. So gold miners to keep your eye on are Evolution Mining (ASX:EVN) and Regis Resources (ASX:REG).And iron ore is trading at its highest level in almost three weeks, amid prospects of increased Chinese demand. China, a top steel producer and iron ore consumer, has announced more stimulus measures to support its COVID-hit economy, which includes new infrastructure projects. So keep watch of miners that may benefit from rising iron ore prices, such as Rio Tinto (ASX:RIO), Fortescue Metals (ASX:FMG), BHP (ASX:BHP), and Champion Iron (ASX:CIA).Stocks set to go ex-dividend today, which often sees share prices fall include Best & Lee (ASX:BST), Earlypay (ASX:EPY), IGO (ASX:IGO), Regis Healthcare (ASX:REG), Ramelius Resources (ASX:RMS) and South32 (ASX:S32).Trading Ideas:Bell Potter maintain a Speculative Buy rating on Avita Medical (ASX:AVH) with a valuation of $3.00. At its current share price of $1.95, this implies 53.8% 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 $8.43 to the range of $7.90 to $8.00, over 5 days, according to the standard principles of technical analysis.

There was no good, just bad and ugly in today’s session on the ASX as investors responded to the Wall St sell-off sparked by US inflation data hitting 8.3% for August.The ASX ended the midweek session down 181.10 points or 2.58%, weighed down by a heavy sell-off in real estate stocks, although no sector was safe from the market sell-off today with all 11 sectors ending the session in negative territory, with real estate stocks again taking the biggest hit. More than $58 billion was wiped off the ASX in the opening hour of trade today, as the local market tumbled more than 2.6%. Japanese financial firm Nomura has raised its expectations of the Fed to hand down a full 1% interest rate hike at the FOMC meeting next week, while also expecting the RBA to increase Australia’s cash rate hike by 0.5% in October instead of the previously forecasted 0.25%. Westpac also says Australia is facing a similar problem to the US with consumption remaining strong, meaning demand is continuing to drive inflation.Finding a winning stock today was like finding a diamond in the rough, but one standout was Clover Corporation (ASX:CLV), which surged more than 11% during the session after releasing full year results in line with the top end of guidance. The strong results were boosted by the second half of the year with international borders opening and key infant milk manufacturers lifting orders. Mesoblast (ASX:MSB) ended the session as the leading stock, gaining 2.2% despite no price sensitive news released by the regenerative medicine company today.On the losing front, Lake Resources (ASX:LKE) continued its run in the firing line of investors with the stock plunging more than 15% today after the company revealed a dispute with Lilac Solutions regarding the Kachi Pilot Plant as to the date by which certain milestones must have been achieved. Under the agreement, Lilac will earn up to a 25% stake in the Kachi Project based on meeting certain milestones, which Lake considered must be achieved by September 30, while Lilac believes it has until 30 November to do so. Investors also sharply sold-off Megaport (ASX:MP1) and Clinuvel Pharmaceuticals (ASX:CUV) shares today.The top traded stocks by Bell Direct clients today were Lake Resources (ASX:LKE), Star Entertainment Group (ASX:SGR) and Cochlear (ASX:COH).On the economic calendar for tomorrow, Australia’s unemployment rate for August is released, which will give an insight into how tight the country’s labour market was last month.

US markets snapped the recent rally overnight following the release of key inflation data for August showing the world’s largest economy’s inflation rate hit 8.3% for the month which is a decline from July’s 8.5% but above the market expectations of 8.1%. Investors sharply sold out of stocks broadly on Wall St over concerns the Fed will take even more aggressive action to cool inflation by rising interest rates further. The Dow Jones fell 3.3%, the Nasdaq plunged 4.35% and the S&P500 fell 3.52%.The sell-off extended over to London where the FTSE 100’s green run came to an end with the index falling 1.17% while Germany’s DAX closed the day down 1.6%, and the French CAC lost 1.4%.Ukraine’s recent advances and counterattacks in the nation’s recaptured area to 6,000 square kilometres which has impressed the White House and other western allies. From a markets perspective, global markets just want to see de-escalation of tensions to help stabilise inflation and cool the global energy crisis.What to watch today:Locally, the global energy crisis has driven demand for Australian-based energy stocks with the sector up 37.36% YTD as countries look for new supply deals with Australian providers which we have already seen through Woodside Energy (ASX:WDS) signing a supply agreement for the supply of LNG with Europe. This year, the energy sector is one of just two sectors that have posted gains in the current market environment.In commodities, crude oil is trading almost half a percent lower at US$87 a barrel, natural gas is up almost 1%, gold is trading more than 1.2% lower at US$1,703 an ounce, and iron ore is flat around US$104 a tonne.Ahead of the local trading day, ASX futures is expecting the market’s green streak to come to an end today, with the futures expecting a fall of 1.75% to start the day on the back of that sharp sell-off in the US overnight.On the economic data front for today, UK inflation data for August is released this afternoon with the market expecting an increase to 10.2% from 10.1% in July.Trading Ideas:Bell Potter maintains a buy rating on The a2 Milk Company (ASX:A2M) and has increased its share price target from $6.35 to $6.60 following recent market updates including its New Zealand baby formula manufacturer Synlait Milk having its licence to produce baby formula for the Chinese market extended until February 2023.Trading Central has identified a bullish signal on Brambles (ASX:BXB) following a pattern forming over a period of 15-days which is roughly the period of time in which the price target between the range of $13.10-$13.40 may be achieved from the close of $12.08, according to standard principles of technical analysis.

The Australian market’s rally extended into a fourth straight session today with the key index ending the day up 0.65%, driven by a surge in real estate stocks today.ANZ consumer confidence data for last week out today shows Aussie confidence fell 0.5% following the RBA’s latest interest rate hike, however Westpac Consumer Confidence data for September also out today showed an increase of 3.9%, rebounding from a 3% fall in August and rising for the first time since November 2021.NAB business confidence data was also released today, which showed businesses were also confident in August as the index rose 2 points to 10 in August and conditions remain strong across the states and most industries indicating that demand remains strong. NAB expects that inflation and rising interest rates will eventually begin to weigh on household budgets which will in-turn lead to decreasing demand.The best performing stocks today were Chalice Mining (ASX:CHN) which added almost 10%, NOVONIX (ASX:NVX) gained 7.5% and BrainChip (ASX:BRN) jumped 5.8%.The bigger stories came out of the losing front today:Link Administration (ASX:LNK) nosedived more than 20% as investors fled the stock on concerns that the company’s proposed $2.5b buyout by Dye & Durham would be derailed by the UK’s Financial Conduct Authority’s regulatory approval process.A consortium of investors led by KKR pulled out of takeover talks with Ramsay Health Care (ASX:RHC) for a buyout worth nearly $30b which led to Ramsay Health Care shares tumbling 10%.Woolworths’ (ASX:WOW) acquisition of 80.2% of issued shares in MyDeal was approved by the NSW Supreme Court today. It is expected that an office copy of the Court orders will be lodged with ASIC tomorrow, at which time the Scheme will become legally effective.Star Entertainment Group (ASX:SGR) has been found unfit to hold a casino licence in NSW today following a lengthy inquiry into the hotel and casino giant by the NSW Independent Casino Commission. Shares in SGR rallied more than 3% today in a sign the market expected this outcome from the inquiry and in anticipation of who will come in to recover and restructure the casino giant in order to comply with regulations. The top traded stocks by Bell Direct clients today were Mineral Resources (ASX:MIN), BHP Group (ASX:BHP) and Macquarie Group (ASX:MQG).In economic data, investors are eagerly awaiting the release of US inflation data for August which is out later tonight, to gain an insight into whether the cost of living in the world’s largest economy continued to decline for the month.

The US market closed higher for the fourth straight session off the back of growing confidence that inflation has peaked. Also boosting sentiment was a weaker US dollar. This saw the Dow rise more than 200 points, and both the S&P500 and Nasdaq lift more than 1%. Investors are now awaiting the release of the August consumer price index report on Tuesday morning US time. In Europe, markets also closed higher, with the German DAX up the most, rising 2.4%. What to watch today:The SPI futures are suggesting that the ASX200 will open 0.6% higher.Economic news wise, we’ll get an update on just how confident both consumers and businesses are in the current market. At 10:30am AEST, Westpac’s Consumer Confidence reading will be announced, and at 11:30am, NAB’s Business Confidence for August will be released.AGL Energy (ASX:AGL) will be on watch today, after the gas and electricity provider revealed after market close yesterday that the Loy Yang A Unit 2 will be out of action for longer than expected, after a defect was identified. Management however expects its strong performance during August and September to help offset the earnings impact.In commodities:Oil prices rose off the back of supply uncertainty. The gold price also gained as the US dollar slipped. And the spot iron ore price traded nearly 3% higher to US$105 a tonne.Stocks going ex-dividend today include Grange Resources (ASX:GRR), TPG Telecom (ASX:TPG), IVE Group (ASX:IGL), Inghams (ASX:ING) and News Corp (ASX:NWS). If you hold Domain Holdings (ASX:DHG), GUD Holdings (ASX:GUD) or APA Group (ASX:APA), you will receive your dividend payment today.  Trading Ideas:Bell Potter have maintained its Buy rating on lithium miner, Allkem (ASX:AKE) and have increased its price target from $18.76 to $20.04. Bell Potter expect AKE’s cash generation to lift substantially into 2023, given the ongoing strength in lithium demand, commodity prices and production growth. At its current share price of $15.53, Bell Potter’s price target of $20.04 implies about 29% share price growth in a year. Trading Central has a bearish signal on property group Aspen Group (ASX:APZ) indicating that the stock price may fall from its close of $1.66 to the range of $1.45 - $1.49, in the next 21 days according to standard principals of technical analysis.

The Australian market extended last week’s rally into this week with the key index closing the session 1.02% higher, boosted by a surge in materials and technology stocks.The best performing stock today was Nickel Industries (ASX:NIC) soared 6.7% after announcing an upgrade to its Hengjaya Mine Resource, increasing the resource from 2.4m tonnes to 3.7m tonnes of contained nickel metal. Gold Road Resources (ASX:GOR) also lifted just over 5% today. Other stocks that investors bought into today included Mineral Resources (ASX:MIN), with shares in the mining services giant soaring to a fresh record high of $74.20 today during the session. The a2 Milk Company (ASX:A2M) also lifted today following its New Zealand-based baby formula producer for the Chinese market, Synlait Milk (ASX:SM1), being granted renewal of its State Administration for Market Regulation licence to continue manufacturing the baby formula for China until 21 February 2023.Investors sharply sold out of Liontown Resources (ASX:LTR) today despite the company announcing it has executed a letter of award with Zenith Energy (ASX:ZEN), one of Australia’s leading independent power producers, to supply electricity to its Kathleen Valley Lithium project in Western Australia for a 15-year period. Other losing stocks today included Sims (ASX:SIM) and Lake Resources (ASX:LKE).The top traded stocks by Bell Direct clients today are Pilbara Minerals (ASX:PLS), Fortescue Metals Group (ASX:FMG) and Lake Resources (ASX:LKE).On the economic calendar for tomorrow, investors will gain an insight into just how confident both consumers and businesses are with current market and economic conditions, with Westpac Consumer Confidence data for September out in the morning followed an hour later by the release of NAB’s Business Confidence data for August. US Core inflation data for August is also out later tomorrow night.

The Australian market closed 0.66% higher on Friday as investor confidence extended into the final trading session of the week, after RBA Governor Philip Lowe gave dovish signs of the way forward in terms of interest rate hikes.The winning stock on Friday was Mineral Resources (ASX:MIN) after the leading mining services company said it regularly considers ‘strategic options’ for its lithium segment in an indication the company may be looking to spin-off its lithium division. De Grey Mining (ASX:DEG) and Sandfire Resources (ASX:SFR) also led the gains on Friday, each adding almost 12% and 8% respectively.On the losing front, investors sharply sold-off Life360 (ASX:360) despite no price sensitive news released by the location tracking company. Imugene (ASX:IMU) also fell more than 4.2% on Friday possibly after some investors took profits from its prior session surge after the company announced it has dosed the first patient in its Phase 2 trial for its leading drug candidate HER-Vaxx.The most traded stocks by Bell Direct clients last week were Paladin Energy (ASX:PDN), Myer Holdings (ASX:MYR) and Pilbara Minerals (ASX:PLS).Over in the US, stocks rallied to end the week with strong gains. The Dow Jones added 1.2%, the S&P500 jumped 1.5% and the Nasdaq surged 2.11% on Friday. The tech-heavy Nasdaq was the winning index for the week, adding more than 4.1%. Investors bought back into shares following the end of the recent reporting season that showed companies are handling inflation and slowing growth well. Tesla shares rallied 3.6% on Friday after the EV giant said it is looking into constructing a lithium hydroxide refining facility that can help support its EV battery production. The rally carried over to Europe with the FTSE gaining 1.23%, the DAX adding 1.43% and the CAC lifting 1.41%.What to watch today:The futures are expecting the market to open 1.15% higher to extend the gains from last week into the new trading week.On the commodities front:Oil has rebounded from 8-month lows that ended last week to trade 3.21% higher at around US$86.22 a barrel.Gold is up half a percent to US$1716 an ounce.Iron ore is up just under 3%.Natural gas is trading up almost 1.5%.Economic news wise, investors will gain an insight into consumer and business confidence, with Westpac Consumer Confidence data for September out tomorrow as well as NAB Business Confidence data for August being released tomorrow. Overseas, US inflation rate data for August is also out later on Tuesday night which will give an insight into just how expensive it was to live in the US in August.Trading Ideas:Trading Central has identified a bullish signal on data software company Nuix (ASX:NXL) after identifying a pattern forming over an 87-day period, which is the same amount of time the share price is expected to rise from the close of $0.86 to the range of $1.00-$1.06 according to standard principles of technical analysis.Bell Potter has upgraded its price target on Aroa Biosurgery (ASX:ARX) from $1.35 to $1.40 and maintains its Speculative Buy rating on the stock, driven by upgrades in TELA Bio Revenues which is ARX’s commercial partner.

The Aussie share market gained 0.29% this week (Mon-Thu), boosted by the technology sector. The RBA also raised the cash rate to 2.35%, raising consumer concerns about the rising cost of living. In this week's wrap, Grady covers:(0:29) The increase on Australian home loans(0:51) Whether the building boom is over(1:15) When Australians will feel the full brunt of the recent rate hike(3:52) Why energy stocks were sharply sold off(4:45) The most traded stocks & ETFs by Bell Direct clients(5:09) Four economic news items to watch out for

Well US investors took the Federal Reserve’s latest comments on taming inflation positively, as equities moved higher overnight in New York. Stocks initially fell during a Q&A session from the Fed Chairman Jerome Powell at the Cato Institute. He signalled that there wouldn’t be a pause in rate hikes or a pivot to cutting interest rates anytime soon. US equities however ended the session with gains. The Dow Jones closed up 0.6%, the S&P500 up 0.7% and the Nasdaq up 0.6%. European markets closed higher, after the European Central Bank announced a 75-basis point interest rate rise. The STOXX 600 closed 0.5% higher. What to watch today:The Australian market is set to open flat this morning. The SPI futures are up 5 points. In commodities, Oil is trading 2% higher. The price is rebounding after tumbling almost 6%, as investors weighed on supply concerns. Also President Vladimir Putin said Russia was to immediately stop oil supply to countries that support the G7’s initiative to cap prices on oil exports or the EU’s plan to place a ceiling on Russia natural gas sales. Although the oil price is currently trading in higher, it still remains close to the 8-month low, which was reached when monetary tightening and COVID lockdowns weighed on demand. Today, keep watch of Woodside Energy (ASX:WDS), Beach Energy (ASX:BPT), Santos (ASX:STO) and other energy producers. The gold price is lower, after caution dominated sentiment ahead of the Jerome Powell’s speech and the ECB’s rate hike announcement. Watch gold miners such as St Barbara (ASX:SBM) and Newcrest Mining (ASX:NCM). Iron ore has also dropped, approaching the nine-month low it reached earlier in the month. Stocks going ex-dividend today, which may see share prices fall as investors take profits, include Nine Entertainment (ASX:NEC) and WiseTech Global (ASX:WTC). Trading Ideas:Bell Potter maintain a Speculative Buy rating on De Grey Mining (ASX:DEG). Bell Potter have increased their price target from $1.80 to $1.97. At its current share price of $0.97, this implies 103% share price growth in a year. Trading Central have identified a bearish signal in Metcash (ASX:MTS), indicating that the stock price may fall from the close of $4.11 to the range of $3.79 to $3.85 over 10 days, according to the standard principles of technical analysis. 

The Australian market rebounded sharply from yesterday’s sell-off to close Thursday’s session 1.77% higher, boosted by investors piling into the tech and materials sectors today.Investor confidence was boosted by a rebound in commodity prices and RBA Governor Philip Lowe’s speech, where the RBA leader gave clarity and certainty around the slower way forward in terms of rate hikes. Mr Lowe said there are at least two more rate hikes to come in order to tame the country’s inflation to the target range between 2-3%, and that the RBA thinks the neutral cash rate is at least 2.5%. Australia’s trade balance for July released today showed the country’s trade surplus more than halved in July to $8.73 billion, which fell well short of market expectations for a $14.5 billion surplus. Exports fell 9.9% in the month due to a sharp fall in sales of metal ores and minerals.Today’s winning stock was Tyro Payments (ASX:TYR), surging more than 28% after the fintech company rejected a takeover bid worth $658 million from a Potentia Capital-led consortium. Tyro’s board considered the indicative proposal and unanimously determined the offer significantly undervalues Tyro and as such advised it is not in the best interest of shareholders to proceed with this offer in its current form. And it was a tech sector surge today with technology stocks posting the biggest gains of the session. Life360 (ASX:360) soared over 15%, while Megaport (ASX:MP1) added more than 12%.On the losing front, Alumina (ASX:ALU) took the biggest hit today, closing the session down over 2.4%, while Medibank Private (ASX:MPL) and Chorus (ASX:CNU) each fell over 1%.The top traded stocks by Bell Direct clients today were the BetaShares Geared Australian Equity Hedge Fund (ASX:GEAR), CSL Limited (ASX:CSL) and Lake Resources (ASX:LKE).In economic data, initial jobless claims in the US for the last week will be released overnight with the market expecting a jump in claims to 240,000. Investors will also keep a close eye on any further hawkish signals on the monetary policy front when Fed Chair Jerome Powell speaks at Cato Institute Conference overnight.

US markets snapped a two-session losing streak, to close higher across the three key indices, led by the Nasdaq rallying more than 2% on Wednesday as oil prices and rate concerns eased, which cooled investor fears over continued high inflation. Stocks rallied after Federal Reserve Vice Chair Lael Brainard reaffirmed the Fed will do what it takes to control the country’s inflation, while also noting the risks of going too far. US trade balance data for July came in overnight, with imports continuing to outweigh exports, as the trade balance in the world’ largest economy regained some ground to a deficit of US$70.7 billion from $80.9 billion in the month prior. Over in Europe, Russian President Vladimir Putin caused a sell-off in stocks after threatening to cut back grain exports from Ukraine and said Moscow could extend its rations of natural gas exports and cut off oil flow if the west goes ahead with a planned price cap on Russian crude. Putin’s comments on grain sent global wheat prices up 4%. Stocks were also sold off as investor concerns over a recessionary outlook continue to grow. The FTSE100 fell almost 1%, the DAX added just 0.3% and the CAC closed just 0.02% higher. What to watch today: On local shores, the ASX futures are anticipating the market to open just under half a percent higher today, to recover from yesterday’s sharp sell-off.In commodities, crude oil is trading 6% lower overnight, natural gas is down 3.5%, gold is 1.3% lower and iron ore is trading down 1.5%.In economic data, investors will be keeping an eye on RBA Governor Philip Lowe’s speech to gain an insight into just how aggressively the RBA will continue to raise interest rates in the future. Australia’s trade balance data is also out today, with the market expecting a trade surplus of $14.5 billion, down June’s surplus above $17.6 billion. Investors will be hoping the data boosts mining stocks today, following a sharp sell-off yesterday, after China’s trade balance showed demand fell nationally and internationally for iron ore, copper and gold. Trading Ideas:Trading Central has identified a bullish signal on software company Nuix (ASX:NXL), amid a pattern forming over a 17-day period. The bullish signal indicates that over this same period the stock price could climb from the close of $0.69/share to between $0.81-$0.85 / share according to standard principles of technical analysis.Bell Potter has initiated coverage of medicinal cannabis company Cronos Australia (ASX:CAU) with a buy rating and a price target of $0.60 per share with the expectation that momentum observed for Cronos in FY22 will continue into FY23 and translate into strong revenue and earnings growth.

Investor sentiment was dampened today in the wake of the RBA’s 50-basis point interest rate hike, GDP data showing the Australian economy grew 0.9% in the June quarter and the price of oil tumbling 2%, which caused a sell-off in energy stocks. The market closed the midweek session down 1.42%, dragging the index down more than 10.6% over the last 52-weeks.The story of the session was Australia’s economy or GDP growing 0.9% in the June quarter and 3.6% for the year, driven by the boom in resource exports and high household consumption. The high consumer household spending, which jumped 2.2% in the quarter, indicates the full impact of RBA rate hikes are yet to fully be felt by consumers, with the biggest increases in spending done at cafes, restaurants and on transport services. The overall GDP data came in relatively in-line with market expectations.Today’s winning stock was ResMed (ASX:RMD), which jumped 4.23% after Morgans placed an Add rating on the stock with a price target of $37.08 per share, based on the sleep treatment company’s positive long term growth outlook. Virgin Money (ASX:VUK) also rallied 3.3% today, while Fisher & Paykel Healthcare (ASX:FPH) added just over 3%.Energy stocks faced a sharp sell-off today as the price of oil and natural gas prices are down around 2% each in the aftermath of Russia announcing Nord Stream 1 would be offline indefinitely, OPEC placing a price cap on Russian oil and China’s COVID zero goal hurting demand. Viva Energy Group (ASX:VEW) fell more than 6.5% today, while New Hope Corporation (ASX:NHC) and Beach Energy (ASX:BPT) lost 4.9% and 4.5% respectively. The session’s worst performing stock was Chalice Mining (ASX:CHN), which fell more than 13% despite no price sensitive news released by the company today. Qantas (ASX:QAN) shares also took a hit today after the ACCC found the cheapest domestic airfares were 56% more expensive in August than the four months prior, travellers faced record delays and the number of flights cancelled surged to three times the long-term average in July.The top traded stocks by Bell Direct clients today were Whitehaven Coal (ASX:WHC), the BetaShares Geared Australian Equity Hedge Fund (ASX:GEAR), and Fortescue Metals Group (ASX:FMG).On the economic calendar US trade balance data is released tonight while local investors will be keen to hear RBA Governor Philip Lowe’s speech tomorrow to look for any signs on how aggressively the RBA will continue to raise interest rates moving forward, following the rate hike yesterday

US equities tumbled in what was a volatile trading session, as trading resumed overnight following the Labor Day national holiday. Wall Street continued its broad sell-off. The Dow closed over 170 points lower, or 0.6%. The S&P500 fell 0.4% and the Nasdaq closed 0.7% lower, notching its seventh day of losses, its longest since 2016.  The Institute of Supply Management PMI came in stronger than expected. However, investor sentiment has been dampened lately, amid hawkish comments from the Fed, who show no signs of easing up aggressive interest rate hikes.  Also, the court battle between Tesla CEO Elon Musk and social media company Twitter is scheduled for today. In London, shares responded favourably to the news of the new Prime Minister Liz Truss.  Following the RBA’s cash rate hike yesterday, the national currency has struggled to gain momentum, with one Aussie dollar buying just 68 US cents. What to watch today:The SPI futures are suggesting the Australian market will open 0.54% lower this morning. In economic data, today the GDP Growth Rate for Q2 will be released at 11:30am AEST. Year-over-year, the growth rate is expected to rise from 3.3% to 3.5%. On the commodities front: Crude oil has slipped more than 2% overnight, amid weaker demand fears and the prospect of rising interest rates, despite OPEC agreeing to cut crude supply by 100,000 barrels per day in October in a bid to prop up oil prices.Iron Ore is trading more than 3% higher at US$101 per tonneGold is trading flat at US$1,700 per ounce. Trading Ideas: Bell Potter have re-initiated coverage on Starpharma (ASX:SPL), a Melbourne-based biotech company focussed on dendrimer technology.  The broker has a Speculative Buy rating on the stock with a $1.00 valuation. At its current share price of $0.58, this implies 72.9% share price growth in a year. Trading Central have identified a bullish signal in Ecograf (ASX:EGR), indicating that the stock price may rise from the close of $0.44 to the range of $0.52 to $0.56, over 16 days, according to the standard principles of technical analysis. 

The story of the day was the RBA raising the official cash rate by a further 50 basis points for September, taking the rate from 1.85% to 2.35%, which was in line with market expectations. The RBA also said it is committed to continue raising the cash rate.The market rallied in the first hour of trade before turning lower and closing the session down 0.4%. Investors sold out of financial stocks today in anticipation that the big banks will pass on the full interest rate hike to customers.Lithium stocks performed well today after a number of broker upgrades including Macquarie reiterating its ‘outperform’ rating on Allkem (ASX:AKE), while Jefferies lifted its price targets on IGO (ASX:IGO), Pilbara Minerals (ASX:PLS) and Allkem (ASX:AKE). The rally in lithium stocks was led by Core Lithium (ASX:CXO) surging almost 10%. Other winning stocks for today’s session were Lake Resources (ASX:LKE) which added 9.55%, Paladin Energy (ASX:PDN) which jumped 7.8%, and Pilbara Minerals (ASX:PLS) which closed the session up just over 7%.And on the losing front, Breville Group (ASX:BRG) led the losses today falling almost 5%, Incitec Pivot (ASX:IPL) shed 3.66% and GrainCorp (ASX:GNC) ended the day down 2.9%. The top traded stocks by Bell Direct clients today were Commonwealth Bank (ASX:CBA), Pilbara Minerals (ASX:PLS), and Whitehaven Coal (ASX:WHC).In economic news, Australia’s current account balance was also released today. The nation’s current account surplus jumped to $18.3 billion in the second quarter which fell short of market expectations of $20.8 billion, but a major increase from a fall to $2.8 billion in the previous quarter. The increase in the current account for the second quarter was driven by higher commodity prices.Tonight, the US will have its first trading session of the week with investors keeping a close eye on if the sell-off from last week will continue into the new trading week.On the economic data front, US Global Services PMI is out tonight, in addition to ISM Non-Manufacturing business activity, PMI and Employment for the month of August with the market expecting a decline across each of these metrics from the month of July. Locally, investors will be awaiting GDP data out tomorrow for the second quarter to see if Australia’s economy continued to grow during the most recent period. The market is expecting growth of 1%, up 0.2% from the first quarter.

The US market was closed overnight for the labour day national holiday, but across the sea in Europe, markets closed lower as investors questioned economic risks in the region, reignited by concerns about the energy supply from Russia.What to watch today:Despite the negative session in Europe, the SPI futures are suggesting that the ASX200 will open 0.2% higher.The big focus today is the RBA’s September cash rate decision, where it’s widely expected the central bank will increase rates for the fifth consecutive month. Consensus is expecting another 50 basis point hike, which would take the official cash rate from 1.85% to 2.35%. So stay tuned for the announcement at 2:30pm AEST.In commodities:Oil prices jumped, extending gains as it was confirmed that OPEC will cut production targets by about 100,000 barrels per day from October.The gold price traded flat at US$1,709 an ounce, as investors remained cautious of the US Federal Reserve’s rate hike path following a mixed jobs data report. The report showed that US employers hired more workers than expected in August, but moderate wage growth and a rise in the unemployment rate suggest that the labor market is starting to loosen.The spot iron ore price traded 1% lower to US$98 a tonne.There are nearly 30 stocks going ex-dividend today, including BlueScope Steel (ASX:BSL), CSL (ASX:CSL), Nickel Industries (ASX:NIC), Northern Star Resources (ASX:NST) and Origin Energy (ASX:ORG). So, we may see the share prices of these stocks decline today as investors take their profits.If you hold Magellan Financial Group (ASX:MFG), Bell Financial Group (ASX:BFG) or GWA Group (ASX:GWA) you will receive your dividend payment today. Trading Ideas:Goldman Sachs has retained its Neutral rating on Telstra (ASX:TLS) with a price target of $4.40. Goldman Sachs has been reviewing the telco giant and hasn’t seen enough yet to upgrade its shares. At its current share price of $3.89, Goldman Sach’s price target of $4.40 implies about 13% share price growth in a year.Trading Central has a bearish signal on The Reject Shop (ASX:TRS) indicating that the stock price may fall from its close of $4.20 to the range of $3.67 - $ 3.77 in the next 33 days according to standard principals of technical analysis.  

The Australian market rebounded from last week’s loss to start the trading week in positive territory, ending Monday’s session up 0.34%. ASX-listed oil stocks had investors piling in today after the G-7 agreed to impose a price cap on Russian oil to reduce Russia’s revenue from the key commodity used toward funding its war in Ukraine. Russia responded by saying it will stop selling oil to countries that set price caps which fuelled the rally for energy stocks today with Beach Energy (ASX:BPT) soared more than 5% during the session, while Woodside Energy (ASX:WDS) added more than 3% and Santos (ASX:STO) rallied almost 3%. The price of oil also jumped over 2% today extending gains as investors anticipate possible moved by OPEC+ producers to cut output and support prices at a meeting later today. The winning stocks for today’s session were Coronado Global Resources (ASX:CRN) up 7.5%, and Whitehaven Coal (ASX:WHC) up 6.5%, as investors also piled into coal mining stocks today on the back of the price of coal soaring to a near-record high US$435 per tonne. And on the losing front, Imugene (ASX:IMU) took the biggest hit today, tumbling more than 8% despite no price sensitive news released by the biotech company today. Pointsbet Holdings (ASX:PBH) continued its decline today, shedding 6.4% and Life360 (ASX:360) was also in the firing line of investors today, with its share price closing the day down almost 5%. The most traded stocks by Bell Direct clients today were Pilbara Minerals (ASX:PLS), Whitehaven Coal (ASX:WHC), and Commonwealth Bank (ASX:CBA). Taking a look at economic data released today, ANZ job ads data for the month of August showed Australia’s tight labour market continues as the number of job ads posted in the month increased 2%. In Australia at present, there are more jobs than job seekers and the latest job ads data for August is further evidence that the labour shortage crisis is far from over. Data for new vehicle sales in August was also released today, showing August was the best month for new car sales since 2017, signalling demand for vehicles continues to outweigh supply. Electric vehicle sales for the month reached a record 4.4% of all new vehicles sold. The US market will be closed overnight for the labour day national holiday. Locally, investors will be eagerly awaiting the release of the RBA’s latest interest rate decision for September, which is out tomorrow.

The Australian market closed 0.25% lower on Friday and etched out its second straight week of losses, shedding 3.88% over the last 5 trading days in the indexes worst trading week since June. The materials sector plunged more than 10% for the week as a major lockdown in China weighs on investor sentiment toward the sector, as investors fear iron ore demand from China will weaken following the lockdown. Mineral Resources (ASX:MIN) fell 6.23% on Friday, Lake Resources (ASX:LKE) 6.17%, and Sandfire Resources (ASX:SFR) dropped almost 5% to end the week.Investor fears of demand weakening have been the determining factor for investments in materials stocks over the last week, despite some of the mining giants like BHP Group (ASX:BHP) reporting strong FY22 results last week.Despite the turbulent session on Friday, investors piled into Life360 (ASX:360) despite no price sensitive news released by the company on the last trading day of the week. Investors also bought into GPT Group (ASX:GPT) on Friday and Clinuvel Pharmaceuticals (ASX:CUV) rose 2.3% after releasing strong FY22 results.On the losing front, investors sold-out of NOVONIX (ASX:NVX) on Friday with the battery materials and tech company diving more than 8% as investors respond to the company’s FY22 results including the full-year loss deepening to $71 million.The most traded stocks by Bell Direct clients last week were Boral (ASX:BLD), BHP Group (ASX:BHP) and Core Lithium (ASX:CXO).Over in the US, markets closed lower on Friday despite a morning rally on Wall Street. The Dow Jones and S&P500 each fell 1%, while the Nasdaq lost 1.3%. Stocks rallied in the morning as the US labour department issued a strong jobs report for august, showing payrolls rose 315,000 for the month as companies continue hiring in the tight labour market, while unemployment ticked higher to 3.7% as more people look for work. The sharp sell-off in afternoon trade came as investor sentiment changed to believe the strong jobs report won’t cause the feds to act any less aggressively toward tackling inflation for the foreseeable future. Over in Europe, the key markets rallied with the FTSE adding more than 1.8%, the Dax soaring 3.3% and the CAC jumping 2.2%. The G-7 rolled out a plan to cap the price of Russian oil on global markets as part of a set of sanctions aimed at limiting Russia’s revenue from oil sales without cutting off oil supply from Russia completely which would send global oil prices soaring.What to watch today:ASX futures are expected to open 0.23% lower on the back of the sell-off on Wall St on Friday.Taking a look at commodities, crude oil is trading just under 1% higher this morning, natural gas is down 4.07%, gold is up just under 1% while iron ore is trading down more than 1%.On the economic data front, final retail sales data for July is released today in addition to ANZ Job ads for August.Investors will also be keeping a close eye on the RBA’s interest rate decision for September which is released tomorrow as well as Australian GDP for Q2 out on Wednesday, followed by Australia’s trade balance data out on Thursday.Trading Ideas:Trading Central has identified a bullish signal on CSL Limited (ASX:CSL) based on a pattern forming over a 25-day period which is roughly the amount of time the new price target will be achieved in the range between $314/share-$319/share from the close of $295.99/share, according to standard principles of technical analysis.Bell Potter has maintained its rating on Genetic Signatures (ASX:GSS) to a speculative hold rating but downgraded its price target to $1.20/share from $1.25/share based on challenges anticipated to be faced in FY23 including regulatory approval by the FDA for its Enteric Protozan kit expected in Q2 FY23.

The Aussie share market tumbled 3.64% this week (Mon-Thu) partly due to Wall Street’s lead. 336 companies have reported results to the market and we analyse the scorecard.   In this week's wrap, Grady covers:(0:32) How the energy & materials sectors performed in August (2:01) Why investors sold-off REIT stocks(2:39) The key takeaways from this reporting season (3:29) The a2 Milk Company (ASX:A2M) leading the gains (4:50) The most traded stocks & ETFs by Bell Direct clients

In New York overnight, shares turned around, regaining some of the week’s losses. The Dow and the S&P500 ending the first day of the month on a high note, with investors looking forward to the US jobs report for August. Meanwhile, the Nasdaq dropped 0.3%, posting a 5-day loosing streak, which was last seen for the Nasdaq in February. All three major averages however, are on track to finish the week lower. And the 2-year US Treasury yield topped 3.5%, which is the highest level since November 2007. This weighed on weigh sensitive growth stocks.What to watch today:The SPI futures are suggesting our local market will edge higher this morning, set to rise 0.29% at the open.In commodities,Crude oil has dropped almost 4%, as US recession concerns and a weakening demand outlook have overshadowed concerns over tight supply.Gold is also trading lower, hovering at its lowest in 6 weeks, pressured by the Fed’s commitment in fighting inflation with aggressive policy tightening.Iron ore is also in the red, trading at levels not seen in nearly 10 months. Power cuts for Chinese manufacturers has lowered capacity for steel production and demand for steel inputs.Watch the share price movements of biotechnology company Imugene (ASX:IMU), which is set to publish its earnings results today, as well as Catalano Seafood (ASX:CSF) which is set to hold its AGM today.Trading Ideas:Bell Potter maintain their Buy rating on DGL Group (ASX:DGL). The company published its FY22 results: Underlying EBITDA was up 59% year-over-year, in-line with Bell Potter’s estimates. Factoring in their expectations for FY23, the broker has lowered their price target from $3.50 to $2.15. At DGL’s current share price of $1.84, this implies 16.8% share price growth in a year.Trading Central have identified a bearish signal in Regis Healthcare (ASX:REG), indicating that the stock price may fall from the close of $2.03 to the range of $1.68 to $1.74, over 10 days according to the standard principles of technical analysis.

The Australian market posted a 2.02% loss on the first trading day of the new month, closing at its lowest level since late July. Every sector aside from consumer staples stocks ended the day in negative territory as the broad market sell-off continued locally in response Wall Street suffering through its worst August since 2015. Economic data on the housing front released today also weighed on investor sentiment, with home loans issued for July falling 7% to $19.05 billion, which well exceeded the market expectation of a 3% fall. Building CaPex and private CaPex also fell for the second quarter in data out today, down 2.5% and 0.3% respectively. On the stocks front, Endeavour Group (ASX:EDV) was one of the winning stocks today despite the market sell-off amid a rally for consumer staples stocks today. The a2 Milk Company (ASX:A2M) also jumped more than 2% today after Bell Potter upgraded the premium dairy company’s shares to a buy rating with a price target of $6.35 per share on the belief that its FY22 results came in ahead of expectations and that strong earnings growth can be seen to continue through to FY26. On the losing front, Pointsbet Holdings (ASX:PBH) continued to be sold-off sharply today with the share price falling more than 15% during the session as investors continue punishing the online sports betting company for its FY22 results released yesterday. The most traded stocks by Bell Direct clients today were Nickel Industries (ASX:NIC), BHP Group (ASX:BHP), and the BetaShares Australian Strong Bear Hedge Fund (ASX:BBOZ). As for what to watch overnight, initial jobless claims in the US for last week will be released, with the market expecting an increase to 246,000.

Description:Well earnings season has now wrapped up, and Aussie shares are expected to start the month of September lower, amid a further sell-off in the US as investors prepare for even higher interest rates.All three US benchmarks closed lower for the fourth straight session, and for the month of August, the Dow Jones, S&P500 and Nasdaq all finished about 4% lower.  Across the sea in Europe, markets also closed lower as investors continue to fear higher interest rates and a looming economic downturn.What to watch today:The ASX200 is expected to open 1% lower if you go by the SPI futures.  In commodities:Oil prices continue to slide so energy shares like Woodside Energy (ASX:WDS) and Santos (ASX:STO) could have another tough day ahead. Recession fears continue to weigh on sentiment. The gold price traded lower, meaning gold has recorded its fifth monthly decline in a row. Keep an eye on stocks like Gold Road Resources (ASX:GOR), Newcrest Mining (ASX:NCM) and Northern Star Resources (ASX:NST).The spot iron ore price trades nearly 4% lower so keep watch of ASX iron ore players like Fortescue Metals (ASX:FMG), BHP and Rio Tinto (ASX:RIO).  Stocks going ex-dividend today include AGL Energy (ASX:AGL), BHP Group (ASX:BHP), Credit Corp Group (ASX:CCP), Jumbo Interactive (ASX:JIN), Platinum Asset Management (ASX:PTM) and Whitehaven Coal (ASX:WHC).  If you hold Dicker Data (ASX:DDR) you will receive your dividend payment today.  A new company debuting on the ASX today is Aeramentum Resources, an Australian mineral exploration company. It will be trading under the ticker code AEN. Trading Ideas:Bell Potter have maintained its Buy rating on Nickel Industries (ASX:NIC), with a price target of $1.83. Bell Potter believe NIC has a strong growth outlook and undemanding valuation multiples. At its current share price of $0.99, Bell Potter’s price target of $1.83 implies about 85% share price growth in a year. Trading Central has a bullish signal on Computershare (ASX:CPU) indicating that the stock price may rise from its close of $24.70 to the range of $26.50 - $26.90 in the next 6 days according to standard principals of technical analysis.  

The Australian market’s rally over the past few days was very short lived, as the local market closed 0.16% lower today, weighed down by a sharp sell-off in energy stocks. Despite today’s losses, the local market posted a 0.6% gain.The markets may have also been sold off after Australia’s second quarter construction work done data was released showing a decline of 3.8%, the largest quarterly decline in almost 5-years as the country’s building industry was heavily impacted by strong inflationary pressures and capacity constraints on the building front.Private sector credit data for Australia was also released today showing an increase of just 0.7%, which was in-line with market consensus with all components of credit increasing in July including owner-occupier housing, investor housing, other personal and business.Clinuvel Pharmaceuticals (ASX:CUV) was the top performing stock on the ASX200 today surging more than 17% a day, after releasing FY22 results including the company’s sixth straight annual profit driven by strong revenue growth. Zip Co (ASX:ZIP) also had investors piling in today, despite no price sensitive news released by the buy now, pay later provider today.On the losing front, Pointsbet Holdings (ASX:PBH) took the biggest hit today, tumbling more than 13% after releasing FY22 results that disappointed investors. The online sports betting company reported its net loss increased by 43% to $267.7 million and EBITDA fell to a $243.6 million loss, but revenue increased 52% to $296.5 million. Mineral Resources (ASX:MIN) shares were also sold off again today, as investors continue to sell out following the release of the mining company’s FY22 results on Monday.The most traded stocks by Bell Direct clients today were BHP Group (ASX:BHP), Core Lithium (ASX:CXO) and the BetaShares Australian Strong Bear Hedge Fund (ASX:BBOZ).As for what to watch overnight, further employment insights will be released in the US through ADP Employment Change data for August which will give a further idea of just how tight the US labour market is at present.

US stocks extended their losing streak to a third day on Tuesday as interest rate pressures continue to weigh heavily on the market. The Nasdaq again led losses, closing the session down 1.12%, which extended the Nasdaq’s year to date loss to 24.05%. US home price index data for June was released yesterday showing slowed growth for the month as higher mortgage rates make home ownership less affordable. US job openings data was also released yesterday which showed job openings rose to a seasonally adjusted 11.2 million in July as employers took on more workers in a tight labour market. Over in Europe, the FTSE100 fell 0.9%, the CAC lost 0.2% but the DAX gained 0.5%. What to watch today:The SPI futures are anticipating the local market will open 0.85% lower today following the broad sell-off on Wall St overnight.In commodities: Iron ore fell 4.1% to trade below US$100 a tonne as COVID-19 outbreaks continue to cloud demand from China.Oil declined 5.5% yesterday to hit US$99.28 a barrel.Gold is trading down 0.7% to US$1,724 an ounce.Reporting season continues today with Atlas Arteria (ASX:ALX) and St Barbara (ASX:SBM) releasing first half and FY22 results respectively.On the economic front today, we can expect to gain an insight into the state of Australia’s building crisis with construction work data for the second quarter due out today with markets expecting growth of just under 1%. Private sector credit data for July is also out today, with analysts’ expecting a decline from June to 8.2% for July.Trading Ideas:Trading Central has identified a bullish signal on Cobram Estate Olives (ASX:CBO) based on a pattern that formed over a 53-day period, indicating the stock price may rise over this same amount of time from the close of $1.67 to a range between $1.74-$1.78, according to standard principles of technical analysis.Citi has downgraded its rating from Buy to Neutral on Healius (ASX:HLS) and reduces its price target from $4.30 to $4.00 following the release of the company’s FY22 results noting that HLS’ results were significantly assisted by high levels of COVID-19 testing but the company failed to issue any guidance for FY23. 

The Australian share market regained some ground on Tuesday, closing the session 0.5% higher, as investors piled back into technology stocks, giving long-term tech shareholders a brief sigh of relief. Energy stocks also rallied again during today’s session.Mineral Resources (ASX:MIN) led the gains on the ASX today as investors bought into the mining company following CEO Chris Ellison sharing the company’s vision to build a battery manufacturing plant in Western Australia over the next couple of years. MIN also announced it is pushing ahead with the $3b Onslow Iron Ore project with the backing of China’s biggest steel maker. The a2 Milk Company (ASX:A2M) also jumped more than 6% today after releasing strong FY22 results yesterday.On the losing front, Sandfire Resources (ASX:SFR) shares came under fire today as investors digested the copper miner’s FY22 results today. Despite reporting record sales revenue of $922.7 million, investors were more focused on the company’s scrapping of its final dividend this financial year which led to the sell-off in SFR stocks. Ramelius Resources (ASX:RMS) stocks were also sold off today, closing the session down more than 5%.The most traded stocks by Bell Direct clients today were BHP Group (ASX:BHP), Core Lithium (ASX:CXO) and PolyNovo (ASX:PNV).On the economic data front today, Australian building permits data for July was released showing a decline of 17.2% which significantly exceeded the markets’ expectations of a 2% decline, indicating the country’s building industry remains in crisis mode. Private house approvals data for July was also released today also showing a decline from June to 0.7% which beat market expectations of a 0.5% rise.As for what to watch overnight, US house price index data for June will be released as well as JOLTs Job Openings data for July in the US.

Well, the sell-off continued overnight. US equities declined further with all three major benchmarks closing in the red, amid increasing concerns over rising rates and tighter US monetary policy. The Dow ended the session down 0.6%, the S&P500 down 0.7%, while the Nasdaq dropped just over 1% at the close. Tech was also the worst performing S&P500 sector, while energy and utilities outperformed. What to watch today:Despite the broad selling in New York, the SPI futures are suggesting the Australian market will open 0.26% higher at the open this morning. In commodities, The oil price has jumped, current trading over 4% higher, as supply-side concerns have outweighed fears that a prolonged economic slowdown will affect fuel demand. Also last week, Saudi Arabia flagged possible OPEC production cuts to stabilise volatile markets. So keep watch of oil producers today such as Santos (ASX:STO), Woodside Energy (ASX:WDS) and Beach Energy (ASX:BPT). The gold price has dropped, tracking the downturn in the US dollar. Iron ore continues to gain, bouncing back after hitting its lowest level in more than a month. Companies reporting their earnings results today include Dicker Data (ASX:DDR), Healius (ASX:HLS), IGO (ASX:IGO), Link Administration (ASX:LNK), Woodside Energy (ASX:WDS) and WISR (ASX:WZR). Companies set to go ex-dividend today, which often sees their share prices fall, include Accent Group (ASX:AX1), Bega Cheese (ASX:BGA), Blackmores (ASX:BKL), Endeavour Group (ASX:EDV), OZ Minerals (ASX:OZL), Treasury Wine Estates (ASX:TWE), Wesfarmers (ASX:WES) and Woolworths (ASX:WOW). Trading Ideas:Bell Potter have upgraded their rating on The a2 Milk Company (ASX:A2M) from a Hold to a Buy. A2M yesterday reported FY22 underlying NPAT ahead of Bell Potter’s expectations of NZ$122.6 million. Revenue and EBITDA also increased and the company’s FY23 outlook is promising. Bell Potter increased their price target form AU$4.75 to AU$6.35. And at A2M’s current share price of AU$5.40, this implies 17.6% share price growth in a year. Trading Central have identified a bullish signal in Galileo Mining (ASX:GAL) indicating that the stock price may rise from the close of $1.25 to the range of $1.46 to $1.50 over 28 days, according to the standard principles of technical analysis. 

The Australian market performed exactly as expected today following the sharp sell-off on Wall Street on Friday as investor fears of prolonged interest rate hikes were strengthened on the back of comments made by Fed Chair Jerome Powell at the Jackson Hole Symposium. The ASX200 closed Monday’s session 1.95% lower, with all sectors closing the day in negative territory led by technology stocks tumbling more than 4%. Technology stocks were the hardest hit in today’s sell-off as investors flee growth stocks that have the potential to be heavily impacted by interest rate hikes. The gold sector also fell more than 4% amid weakness in the price of the commodity. The best performing stocks today were Tyro Payments (ASX:TYR) after the payments solution provider released FY22 results including merchant numbers up 10%, transaction value up 34% and revenue up 37%, and the a2 Milk Company (ASX:A2M) also soared after releasing strong FY22 results and providing solid growth outlook for FY23. On the losing front, PolyNovo (ASX:PNV) nosedived more than 17% during the session today after the medical device company released disappointing results last week. Chalice Mining (ASX:CHN) also dropped more than 9% today. Looking at economic data, preliminary Australian retail sales data for July released today came in at 1.3% for the month which well exceeded the market expectations of an increase of just 0.3%. The retail sales in July may have beat expectations but is still very low compared to a rise of 16.5% last July. The most traded stocks by Bell Direct clients today were Commonwealth Bank (ASX:CBA), BHP Group (ASX:BHP) and National Australia Bank (ASX:NAB).  As for what to watch overnight, investors will be keeping a close eye on Wall Street to see whether the broad market sell-off from Friday will continue this week as investor optimism was dampened by the idea that interest rates will continue to rise for the foreseeable future.

The local market closed 0.79% higher on Friday but was virtually unchanged for the week as a broad market sell-off early in the week offset the rally that ended the week. The big banks rallied on Friday along with the materials and energy sectors.Bega Cheese (ASX:BGA) was the winning stock on Friday after the food company released full year results. Despite Bega’s NPAT falling 69% to $24.2 million, investors were impressed with the company’s revenue of more than $3 billion, which was up 45% year-on-year and the issuing of guidance for FY23 expecting EBITDA to be in the range of $160 million to $190 million for FY23 amid increased consumer prices across all channels.Investors also bought into Viva Energy (AX:VEA) on Friday while selling off City Chic Collective (ASX:CCX) again after the retailer released disappointing results on Thursday, and Zip Co (ASX:ZIP) fell more than 5% on Friday. The common theme continues throughout reporting season, being that investors are selling out of stocks that fail to provide quantitative guidance for FY23, which for last week included Humm Group (ASX:HUM), Coles (ASX:COL) and Ramsay Health Care (ASX:RHC).The most traded stocks by Bell Direct clients last week were IDP Education (ASX:IEL), Boral (ASX:BLD) and Alumina (ASX:AWC). In the US and all three key indices closed lower on Friday after the commencement of the Jackson Hole where investor optimism was dampened by Fed Chair Jerome Powell saying the central bank must continue to raise interest rates to stop high inflation becoming a permanent aspect of society.What to watch today:The ASX is expected to open almost 1.5% lower following the sell-off on Wall Street on Friday.As we head into the tail end of earnings season, we have over 60 companies set to report this week, kicking off with Fortescue Metals (ASX:FMG) this morning.On the commodities front, crude oil is trading almost half a percent higher and up 35% year-on-year, brent is up almost 1.5%, natural gas is down slightly but remains up 112% year-on-year, iron ore is also up just under 2%, but gold is trading 1.2% lower.Investors will be awaiting for the preliminary retail sales data to be released for July out today with the market expecting a rise of 0.3%. Australian building Permits for July is also out on Tuesday which will give an insight into the state of the country’s building crisis.Trading Ideas:Trading Central has identified a bullish signal on Charter Hall Group (ASX:CHC) due to a pattern forming over a 79-day period, indicating the stock price may rise from the close of $13.36 per share to the range of $15.70 to $16.20 per share over the same period of 79 days according to standard principles of technical analysis.Citi maintains a buy rating on Perpetual (ASX:PPT) but have lowered its price target on the stock to $30 per share following the release of FY22 results last week and more importantly, the company’s acquisition of competitor Pendal (ASX:PDL), which was announced on the same day the results were released. The downgrade of the price target is on the back of Citi acknowledging both equity market risk and the apparently negative sentiment towards the transaction which could prevent the stock making near term headway.

The Aussie share market declined 0.9% this week (Mon-Thu) as investor sentiment continues to ride on recession fears.   In this week's wrap, Grady covers:(0:12) Why it may be time to reposition your portfolio(1:04) Three sectors to watch in an inflationary market environment (2:50) An update on reporting season (3:23) Energy stocks surging following renewed focus on nuclear(4:33) The most traded stocks & ETFs by Bell Direct clients(4:57) Five economic news items to watch out for

The highly anticipated 3-day Jackson Hole Economic Symposium kicked off overnight. It’s an annual event that focuses on an important economic issue that faces world economies each year. This year they’re discussing “reassessing constraints on the economy and policy” and over 100 global central bankers, academics, finance ministers and journalists from around the world attend. It’s closely followed by market participants because any unexpected remarks emanating from the heavyweights at the symposium have the potential to affect global stock markets. Mostly, investors are looking for clues on whether policymakers will cut rates when the current hiking cycle is over.Also, the GDP growth rate for the US was released. With an upward revision to consumer spending and inventories. The US economy contracted an annualised 0.6% in Q2, which was less than forecasts.US equities closed higher. The Dow up 1%, the S&P500 up 1.4% and the Nasdaq up 1.7%.What to watch today:The SPI futures are suggesting the Australian market will open flat this morning.The week is ending with another long list of companies set to publish their earnings results today. Some companies include uranium production company Paladin Energy (ASX:PDN), which has gained over 15% this week and over 11% in yesterday’s session alone. Blue-chip retail conglomerate Wesfarmers (ASX:WES) is also reporting today. And Ramsay Healthcare (ASX:RHC) is also set to publish results. They’re the largest operator of private hospitals in Australia and provide healthcare in 10 different countries.In commodities,The oil price has dropped, failing to hold onto earlier gains, as investors balance signs of tightening supplies.Gold is trading in the green, rising for a third straight session as the US dollar eases.And iron ore is also higher, now recovering from the lowest level it hit in over a month.Companies set to go ex-dividend today include Alumina (ASX:AWC), GUD Holdings (ASX:GUD), Lendlease Group (ASX:LLC) and Newcrest Mining (ASX:NCM).Trading Ideas:Bell Potter maintain a Buy rating on Eagers Automotive (ASX:APE), after the company reported yesterday. Revenue was up 4%, but below Bell Potter’s forecast , however its underlying profit before tax margin came in higher than the broker’s forecasts. Bell Potter have increased their price target form $14.75 to $15, and at its current share price of $13.16, this implies 14% share price growth in a year.Trading Central have identified a bullish signal in Qube Holdings (ASX:QUB), indicating that the stock price may rise from the close of $2.94 to the range of $2.96 to $3, over 33 days, according to the standard principles of technical analysis.

The Australian market extended its gains into Thursday, adding just under 1% to close the session in positive territory led by a rally for real estate and energy stocks.The big story of today’s session was Australian investment fund and trustee group Perpetual (ASX:PPT) announced it is acquiring its competitor, Pendal Group (ASX:PDL) in a cash and scrip deal to create a $201 billion global asset manager.Uranium stocks soared during today’s session following reports Japan is considering the development of new nuclear reactors, indicating the country has a renewed focus on nuclear energy, years after many of the country’s plants were shut down. Uranium stocks on the ASX jumped following the reports including Paladin Energy (ASX:PDN) surging over 20% in two sessions and uranium-linked stocks like Silex Systems (ASX:SLX) up 6.8% today. Paladin Energy (ASX:PDN) was the winning stock today, up around 20% over the last two sessions following the reports out of Japan. Insignia Financial (ASX:IFL), formerly IOOF, also soared over 11% today on the back of FY22 results being released including the company swinging to a profit in the financial year.On the losing front, Woolworths (ASX:WOW) shares were sold off today following the release of the company’s FY22 results including EBIT falling 2.7% and the company taking lower margins as customers shift away from price-inflated products like beef and fresh veggies. Fashion retailer City Chic (ASX:CCX) also fell out of favour with investors today, with the company’s share price tumbling more than 20% also on the release of FY22 results. Despite reporting revenue growth of 39% and underlying NPAT up 7.7%, investors were more shocked to see City Chic’s inventory almost tripling and the company diving into a negative cash flow position.On the economic front today, across the ditch in New Zealand retail sales for the second quarter fell 2.3%, which was well below the market expectations of a 1.7% rise. This is the second consecutive quarterly decline in retail sales which raises the risk that the NZ economy fell into a technical recession in the first half of the year.US Crude Oil Inventories data was also released today showing stockpiles of the commodity in the US declined by 3.3 million barrels, which added to the upward price pressure on crude oil today.The most traded stocks by Bell Direct clients today were Djerriwarrh Investments (ASX:DJW), Whitehaven Coal (ASX:WHC) and Woodside Energy (ASX:WDS).As for what to watch overnight, US GDP data for the second quarter will be released just before midnight tonight Australian eastern time which investors have been waiting for, to see whether the world’s largest economy is in a technical recession or not.

An uncertain week continues on Wall Street. The three major benchmarks closed higher overnight. It was a slow session however with traders a bit hesitant to make big moves. Traders are cautious ahead of Friday night in the US, when we’ll receive a monthly update on inflation which of course is highly anticipated as inflation is currently one of the key drivers of markets. And on Friday Jerome Powell, the head of the central bank will also deliver a speech, which could have an impact on the market’s performance next week. What to watch today:The SPI futures are suggesting the Australian market will rise 0.48% at the open this morning. In commodities, The price of oil is trading almost 2% higher and crude futures have hit the highest levels in three weeks, due to the concerns about tight supply. Crude oil is still down about 25% from the peak in June, as monetary tightening we’re seeing globally right now is creating concerns of an economic slowdown, which would dampen consumption as major central banks stem demand with rate hikes. Watch Santos (ASX:STO) and Woodside Energy (ASX:WDS) today. Gold is trading higher, moving away from the near 4-week low reached earlier in the week,Iron ore has rebounded, regaining some of its earlier losses.Reporting season wise, travel stocks will be on watch, with a few big travel names set to publish earnings, including Air New Zealand (ASX:AIZ), Flight Centre (ASX:FLT), and Qantas (ASX:QAN). And other big names reporting today include South32 (ASX:S32), Pilbara Minerals (ASX:PLS), Ramelius Resources (ASX:RMS) and Woolworths (ASX:WOW). Company results continue to be the main driver for price movements this month, based on if earnings are above or below expectations. Companies going ex-dividend today, which may cause their prices to fall as investors take their profits include Baby Bunting (ASX:BBN), Codan (ASX:CDA), Deterra Royalties (ASX:DRR), JB Hi-Fi (ASX:JBH) and REA Group (ASX:REA).  Trading Ideas:Bell Potter maintain a Speculative Buy rating on De Grey Mining (ASX:DEG), which is due to release the Pre-Feasibility Study on its 100%-owned Mallina Gold Project in the current quarter. The broker’s valuation is $1.80, and at DEG’s current share price of $0.93, this implies 93.5% share price growth in a year. Trading Central have identified a bullish signal in Champion Iron (ASX:CIA), indicating that the stock price may rise from the close of $5.34 to the range of $6.10 to $6.25 over 36 days, according to the standard principles of technical analysis. 

The Australian market posted its first positive close for the week today, with the ASX200 closing the session up 0.52%.The energy sector led the gains today as investors piled into the sector following its solid performance in Europe and the US overnight. Paladin Energy (ASX:PDN) was the winning energy stock today, gaining more than 8% at the closing bell despite no price sensitive news released by the uranium miner today.Some of the key winners and losers today were WiseTech Global (ASX:WTC) which surged more than 10% during the session following the release of impressive FY22 results including underlying NPAT soaring 72% and the signing of 5 new rollout deals for its CargoWise software including UPS. Iluka Resources (ASX:ILU) also soared just under 10% today after releasing half-year results including NPAT rocketing 186%, a 25cps interim dividend and mineral sands revenue jumping 30%. On the losing front, EML Payments (ASX:EML) tumbled more than 10% today after the payments technology provider announced its Sentenial business has identified recent fraudulent activity that could result in losses up to $7.9m. Nanosonics (ASX:NAN) also fell more than 5% today following the release of the company’s full year results yesterday.On the economic front today new home sales in the US fell by almost 13% for July while locally, the RBA’s head of domestic markets Jonathan Kearns, said the climate crisis is a significant issue for the economy and society.The most traded stocks by Bell Direct clients today were: BetaShares Geared Australian Equity (Hedge Fund) (ASX:GEAR), BHP Group (ASX:BHP), NOVONIX (ASX:NVX), and Whitehaven Coal (ASX:WHC). As for what to watch overnight, investors will be keeping a close eye on US GDP data for the second quarter released tomorrow to determine whether the world’s largest economy is in recession territory, as well as initial jobless claims in the US which will reveal if the labor market in the US is continuing to cool.

The local market closed lower for the second straight session, down 1.2% to close below 7,000 points for the first time in two weeks. Shares were lower after a number of companies reported soft results, including Endeavour Group (ASX:EDV) and online retailer Kogan (ASX:KGN). Sectors wise, only the energy and utilities sectors posted gains, while the rest of the market was deep in the red, with the consumer staples sector experiencing a hefty 3.8% drop.  Altium (ASX:ALU) jumped 20% higher after impressing the market with its FY22 results that beat expectations. The software company reported a 23% increase in revenue and an EBITDA margin of 36.7%, and its NPAT grew 57%. Meanwhile, the worst performer was Endeavour Group (ASX:EDV) after its disappointing report card. The most traded stocks by Bell Direct clients yesterday included IDP Education (ASX:IEL), the BetaShares Geared Australian Equity Hedge Fund (ASX:GEAR) and BHP Group (ASX:BHP). In the US, all three benchmarks fell again for the third session as investors brace for the Federal Reserve Chairman Jerome Powell’s remarks at Jackson Hole on Friday. And European markets also closed lower as investors monitored the rise in oil prices and the August flash PMI which showed that business activity had contracted for the second straight month. What to watch today:Despite Europe and the US closing lower, the ASX200 is expected to open 0.22% higher if you go by the SPI futures. Confession season continues to be the key focus today with lots of companies reporting. Some to keep an eye on include Coles (ASX:COL), Domino’s Pizza (ASX:DMP), Iluka Resources (ASX:ILU) and WiseTech Global (ASX:WTC). In commoditiesOil prices rebounded strongly as Saudi Arabia hinted the idea at a possible output cut. The gold price rose for the first time in six sessions as the US dollar and Treasury yields fell following weak US business activity data. The spot iron ore price trades at US$105 a tonne. Stocks going ex-dividend today include: Telstra (ASX:TLS), SG Fleet Group (ASX:SGF) and Pact Group (ASX:PGH).  A new company debuting on the ASX today is Heavy Rare Earths, an Australian mineral exploration company. It will be trading under the ticker code HRE.If you hold Janus Henderson Group (ASX:JHG) you will receive your dividend payment today.  Fisher & Paykel Healthcare (ASX:FPH) and Straker Translations (ASX:STG) will be holding their AGMs today. Trading Ideas:Bell Potter have downgraded its rating on Nanosonics, from a Hold to a Sell with a price target of $4.05. Nanosonics has rallied hard off its lows from earlier this year, however, investment arithmetic is stretched. In Bell Potter’s view a material portion of the valuation is attached to prospective revenues from products yet to obtain regulatory approval let alone commercial validation. At its current share price of $4.68, this implies about -14% share price growth in a year. Trading Central has a bullish signal on foreign exchange company OFX Group (ASX:OFX) indicating that the stock price may rise from its close of $2.66 to the range of $3.45 – $3.60. That’s a rise of around 30-35% and it’s forecasted to occur in the next 33 days according to standard principals of technical analysis.  

Our local market came under pressure yesterday, closing 1% lower. It was a sea of red, with all eleven industry sectors declining. Leading the losses was both the consumer discretionary and tech sectors, after a number of company announcements as well as speculation of aggressive US policy tightening to control inflation. The best performing stock was NIB Holdings (ASX:NIB), after the private health insurer released its full year results, which showed a 7.2% increase in revenue, but a decline in its net profit, however the decline was slightly ahead of estimates. Other top performers included EML Payments (ASX:EML), Pilbara Minerals (ASX:PLS) and Telix Pharmaceuticals (ASX:TLX). Meanwhile, Adbri (ASX:ABC) tumbled 17% after wet weather disruptions and rising fuel and energy prices impacted its profits. Some of the most traded stocks by Bell Direct clients yesterday included BHP Group (ASX:BHP), the BetaShares Australian Strong Bear Hedge Fund ETF (ASX:BBOZ) and aerial imagery technology business Nearmap (ASX:NEA). In the US, all three benchmarks started the new trading week in the red after renewed fears of aggressive rate hikes returned to Wall Street. Consumer discretionary, communication services and tech stocks were hit the hardest. So we saw the Dow tumble more than 600 points, experiencing its worst day since June. The S&P500 was down 2.1% and the Nasdaq fell 2.6%.What to watch today:Following the US, the SPI futures are suggesting that our market will follow with a fall of 0.6% at the open. Companies reporting their earnings today include: AMA Group (ASX:AMA), Alumina (ASX:AWC), Boral (ASX:BLD), Breville (ASX:BRG), Estia Health (ASX:EHE), Monadelphous (ASX:MND) and HUB24 (ASX:HUB).In commodities:Oil prices traded flat following the Saudi energy minister stating that OPEC could cut production to confront market challenges. The gold price declined as the US dollar rallied and as the looming interest rate hikes dented bullion’s appeal. The spot iron ore price is trading flat at US$104 a tonne.Some stocks going ex-dividend today include: intellectual property services group IPH (ASX:IPH), Domain Holdings (ASX:DHG) and Qualitas (ASX:QAL). If you hold Transurban Group (ASX:TCL) you will receive your dividend payment today.  Testing, inspection and certification business ALS (ASX:ALQ) will be holding its AGM today.  Trading Ideas:Potter have maintained its Buy rating on Accent Group (ASX:AX1) and have increased its price target from $1.90 to $2. At its current share price of $1.71, this implies about 17% share price growth in a year. Trading Central has a bearish signal on Dexus (ASX:DXS) indicating that the stock price may fall from the close of $9.01 to the range of $8.56 - $8.64 in the next 33 days according to standard principals of technical analysis.  

The local market closed just 1 point higher on Friday but gained just over 1% for the week led by the materials sector jumping more than 3.4% for the week. The energy sector had its best session in months with energy stocks boosted by the passing of the US Inflation Reduction Act last week.Investors piled into Santos (ASX:STO) on Friday with the energy giant jumping more than 6% a day after releasing its first-half results including NPAT surging over 300% and revenue up 85%. Whitehaven Coal (ASX:WTC) also added over 6% on Friday while New Hope Corporation (ASX:NHC) and BHP Group (ASX:BHP) each gained over 4% during the session. On the losing front, TPG Telecom (ASX:TPG) took the biggest hit on Friday, tumbling more than 12% after the telco giant released first half results that were uneventful including service revenue coming in flat, average revenue per user up just 1%, and EBITDA down 5.3%. Inghams (ASX:ING) also fell over 9% and PointsBet (ASX:PBH) lost over 6.5%. The most traded stocks by Bell Direct clients last week were IPH Limited (ASX:IPH), Worley (ASX:WOR) and Domino’s Pizza (ASX:DMP). Over in the US, all three key indices closed lower on Friday. Investors took the latest minutes as the Fed being more hawkish about its approach to tackling inflation in the world’s largest economy, and fear another aggressive interest rate hike will follow in the September FOMC meeting.What to watch today:The ASX is expected to open lower following a turbulent session on Wall Street on Friday.We are set for another bumper earnings season this week with over 115 companies set to report including Qantas (ASX:QAN), Ampol (ASX:ALD) and the Star Entertainment Group (ASX:SGR).In commodities, oil has rebounded from last week’s dip to trade 0.3% higher this morning, iron ore is trading flat, natural gas is up just under 1% and gold is trading more than half a percent lower.Economic news wise, investors will be keeping a close eye on US GDP data out later in the week to see whether the world’s largest economy continued to contract into a recession or rebounded to growth in the second quarter to ease recession fears currently plaguing the market. Trading Ideas:Trading Central has identified a bullish signal on Red Dirt Metals (ASX:RDT) indicating the stock price may rise from the close of $0.49 to the range of $0.61-$0.63 over the next 48 days which was the amount of time the pattern took to form according to the standard principles of technical analysis.Bell Potter has reduced its target share price on Inghams Group (ASX:ING) to $2.90 following the release of the poultry group’s FY22 results including elevated costs and adverse sales mix.Trading Central has a bearish signal on Adairs (ASX:ADH) with a target price range of $1.65-$1.85, down from the close of $2.55, which may be achieved over the next 40 days according to standard principles of technical analysis. 

We're excited to welcome Grady Wulff, our new Market Analyst at Bell Direct. Grady and the Market Analyst team are dedicated to bringing you daily insights to support you in your investment journey.   In her first weekly wrap, Grady covers:(0:42) Why the energy sector is in the spotlight(2:07) An update on reporting season(2:42) Consumer staples stocks outperforming(2:55) Bell Potter's energy stock picks(3:34) The most traded stocks & ETFs by Bell Direct clients(4:00) The latest unemployment reading

Our local market yesterday closed 0.2% lower. The tech sector declined the most among the 11 sectors, while utilities also weighed down on the market. On the other end, energy and healthcare stocks advanced. And it was one of the busiest days of earnings results so far, with a long list of companies reporting. On the ASX200, we saw intellectual property group IPH (ASX:IPH) shares soar 16%, following news that the company has agreed to acquire Smart & Biggar, which is a leading Canadian intellectual property firm. Blackmores (ASX:BKL) shares fell 10% and it was the worst performing stock yesterday. While Blackmores reported a rise in profit and revenue, it also warned about rising costs and supply chain issues. The most traded stocks by Bell Direct clients were CSL Limited (ASX:CSL), Lake Resources (ASX:LKE), ResMed (ASX:RMD) and BHP Group (ASX:BHP).US equities gained overnight, with all three major benchmarks closing slightly higher. The Dow was up 0.6%, while the S&P500 and the Nasdaq both gained 0.2%. And European stocks also closed higher after a choppy session, amid continuing market caution over the inflationary outlook. The STOXX 600 was up 0.3% by the close. What to watch today:The Australian market is set open slightly higher, with the SPI futures suggesting a 0.3% rise at the open this morning. In commodities, the price of oil is on the rise, now moving further away from the 6-month lows reached earlier in the week, as falling US crude inventories more than offset the concerns around a global economic slowdown. Gold prices have steadied, however have fallen for three straight sessions, with the latest US Fed policy meeting minutes being released, which emphasised the need to keep up rising rates. And iron ore is trading lower with an extended downturn in demand for industrial inputs in China. Some companies set to publish results today include AGL Energy (ASX:AGL), Cochlear (ASX:COH), Cleanaway Waste Management (ASX:CWY), Healius (ASX:HLS), Inghams (ASX:ING) and Newcrest Mining (ASX:NCM). Trading ideas:Bell Potter maintain a Speculative Buy rating on Telix Pharmaceuticals (ASX:TLX) after the company reported its results. Bell Potter have lowered their valuation from $9 to $8.65, and at its current share price of $6.63 this implies 30.5% share price growth in a year. Trading Central have a identified a bearish signal in Adairs (ASX:ADH) indicating that the stock price may fall from the close of $2.55 to the range of $1.65 to $1.85 over 40 days according to standard principles of technical analysis. 

Yesterday, our local market posted its third straight day of gains, closing 0.3% higher, with consumer staples and consumer discretionary stocks advancing the most, while the healthcare sector declined the most, weighed down by a 1.3% fall in CSL’s share price after its results release yesterday.The biggest gainer yesterday was Challenger (ASX:CGF), with the stock regaining some of its losses after its tumble on Tuesday, following its results release. Its gain yesterday was likely off the back of broker upgrades from both Citi and Morgans. Meanwhile, one of the biggest decliners was Magellan Financial Group (ASX:MFG) after investors were not impressed by the company’s full-year earnings for FY2022. The most traded stocks by Bell Direct clients yesterday included Worley (ASX:WOR), Lake Resources (ASX:LKE), Santos (ASX:STO) and CSL Limited (ASX:CSL). In the US, all three benchmarks closed lower, with the Dow Jones snapping its 5-day winning streak. Investors were assessing the latest retail data, as well as the minutes from the Federal Reserve. The central bank suggested that there are more rate hikes in the pipeline, but the pace could slow. And in Europe, markets pulled back and the latest CPI data was released, which showed that UK inflation had risen to another 40-year high in July, as food and energy prices continue to surge.  What to watch today:Following the negative sessions over on Wall Street and in Europe, the SPI futures are suggesting that our market will follow with a fall of 0.18% at the open. The all-important unemployment rate for July will be released today, and it’s expected to remain unchanged at 3.5%.There are a number of companies releasing their earnings results today. These include: Auckland International Airport (ASX:AIA), Blackmores (ASX:BKL), Evolution Mining (ASX:EVN), Iress (ASX:IRE), Orora (ASX:ORA) and Transurban Group (ASX:TCL). In commodities, the crude oil price rose as US crude stockpiles fell. The gold price was trading in the red, following the release of the minutes from the US Fed meeting. And the spot iron ore price currently trades at US$108 a barrel, down about 2.7% this week.Stocks going ex-dividend today include QBE Insurance Group (ASX:QBE), Insurance Australia Group (ASX:IAG), MyState (ASX:MYS) and GPT Group (ASX:GPT).Accounting software business, Xero (ASX:XRO) will be holding its AGM today. Trading Ideas:Bell Potter have maintained its Buy rating on consumer lending company, Money3 Corporation (ASX:MNY) with a reduced price target from $3.22 to $2.90. Money3 recently released its financial year results. At first glance, the results were a good set of figures showing good growth in profitability, with NPAT up 31.6%, which was slightly better than the guidance. The loan book was up 22.0% and whilst this is impressive, it fell short of the previous guidance. At its current share price of $2.42, this implies 19.8% share price growth in a year. Trading Central has a bullish signal on Goodman Group (ASX:GMG) indicating that the stock price may rise from the close of $21.06 to the range of $24.70 - $25.50 in the next 74 days according to standard principals of technical analysis.  

The Australian market had a solid session on Tuesday, with the key index closing the day at a 10-week high. The materials sector led the charge, closing the day more than 1.66% higher on the back of mining giant BHP (ASX:BHP) releasing record results for FY22, which in-turn caused OZ Minerals (ASX:OZL) shares to lift 1.3%. Gains in the materials sector were dampened though by Lake Resources (ASX:LKE) tumbling over 8%.Life360 (ASX:360), a stock recommended by Bell Potter as one to watch in FY23, soared almost 5.5% yesterday after also releasing strong half year results including monthly active users topping 42 million and subscription revenue lifting 88%. Investors sharply sold-off Challenger (ASX:CGF) shares after the investment management firm released FY22 results including a 57% decline in annual profit. Lake Resources (ASX:LKE) and Core Lithium (ASX:CXO) also fell over 8% and 7% respectively yesterday and were two of the most traded stocks by Bell Direct clients during the session, alongside Betashares Australian Equities Strong Bear Hedge Fund (ASX:BBOZ) and Amcor (ASX:AMC).Taking a look at Wall Street overnight, the key US indices closed mixed with the Dow Jones and S&P500 boosted into positive territory by strong earnings results released by Walmart and Home Depot indicating consumer spending could remain strong. The tech-heavy Nasdaq however closed the session in the red. US Industrial production data for July released yesterday showed the world’s largest economy’s value of production output rebounded for the month to 0.6% which was double what markets were expecting. US building permits for July also beat consensus for July with 1.674 million issued over the month, but new house starts in the US fell to 1.44 million in data released yesterday. Over in Europe, the Stoxx, FTSE, DAX and CAC each closed marginally higher on Tuesday but are struggling to build on the strong momentum from last week’s rally.  What to watch today:Locally today, investors will be awaiting FY22 results released by specialty biotech company CSL (ASX:CSL) and oil and gas giant Santos (ASX:STO).On the commodities front, Crude Oil continues its decline, down more than 2.55% this morning, iron ore is also down more than 3%, natural gas is up over 7% and gold is trading just under 1% lower this morning.Australia’s wage price index data for the second quarter is out today and investors will be keeping a close eye to see if the forecasted 0.1% growth was achieved in the quarter.Trading Ideas:Trading Central has a bullish signal on Catapult Group International (ASX:CAT) after detecting a ‘Head and Shoulders Bottom’ chart pattern formed over 84-days which is roughly the period in which the target price range of $1.44 to $1.54 per share may be achieved according to standard principles of technical analysis.Trading Central has identified a bearish signal on retail group Adairs (ASX:ADH) following the detection of a ‘Continuation Wedge’ chart pattern forming. The bearish signal indicates the stock may fall from the close of $2.52 per share to the range of $1.55 to $1.70 per share. The pattern formed over 42-days which is roughly the period in which the target price may be achieved, according to standard principles of technical analysis.

Our local market closed 0.5% higher with the real estate and consumer discretionary sectors in the lead, while energy and financials were in the red. Beach Energy (ASX:BPT) dropped the most on the ASX200 yesterday, after reporting its results. Although revenue jumped, the oil and gas producer reported a lower-than-expected production outlook, which disappointed investors. On the other hand, mining stocks Core Lithium (ASX:CXO), Champion Iron (ASX:CIA) and Lake Resources (ASX:LKE) closed with strong gains. The most traded stocks by Bell Direct clients were BHP Group (ASX:BHP), Bowen Coking Coal (ASX:BCB) and Telstra (ASX:TLS). Overseas, investors monitored market reactions to weak Chinese economic data. China’s industrial output and retail sales data for July missed expectations. Also, China’s central bank cut rates unexpectedly, raising concern over China’s economic recovery. However, European markets still managed to close marginally higher, while US equities rallied as investors prepared for a big week of retail earnings. Wall Street started the session lower with declines in energy and financials, however later rebounded into positive territory as consumer staples, consumer discretionary and communication services moved higher. All three major benchmarks closed in the green. What to watch today:Following US equities, the SPI futures are suggesting the Australian market will rise 0.32% at the open this morning. In commodities, oil has tumbled to an almost six-month low as industrial production figures in China missed expectations, as China is a top oil importer. This added to the news of OPEC’s expectations of a decline in oil demand and supply increases. So today keep watch of energy producers such as Santos (ASX:STO) and Woodside Energy (ASX:WDS). Gold and iron ore are also trading in the red. Watch the share price movements of these company’s reporting their earnings results today: Life360 (ASX:360), BHP Group (ASX:BHP), EML Payments (ASX:EML), Goodman Group (ASX:GMG) and James Hardie Industries (ASX:JHX). Stocks that are set to go ex-dividend today include Computershare (ASX:CPU), Genworth Mortgage Insurance (ASX:GMA) and GQG Partners (ASX:GQG). Remember that this often sees share prices fall, as investors take their profits. Trading Ideas:Bell Potter maintain their Buy rating on Beach Energy (ASX:BPT). The company reported EBITDA and NPAT both below Bell Potter’s expectation, however, have a strong, fully funded energy production growth outlook. Bell Potter’s have lowered their price target to $2.30, and at its current share price of $1.64, this implies 40% share price growth in a year. Trading Central have identified a bearish signal in Alumina (ASX:AWC) indicating that the stock price may fall from the close of $1.53 to the range of $1.32 to $1.36 over 21 days, according to the standard principles of technical analysis. 

The local market closed lower on Friday but gained 0.2% for the week to notch out a fourth straight week of gains. The energy sector defied the broader market sell-off on Friday, boosted by an almost 4% rise for Woodside Energy Group (ASX:WDS).New Hope Corporation (ASX:NHC) and Beach Energy (ASX:BPT) also jumped more than 3% on Friday as investors piled into energy stocks amid rising energy prices. On the energy front, we will be keeping an eye on the sector this coming week following the passing of the Inflation Reduction Act in the US House over the weekend which includes US$369bn for energy security. On the losing front from Friday’s session, Lake Resources fell almost 13.5%, as some investors took profit from the company’s surge of 73% earlier in the week, while Novonix and Telix Pharmaceuticals also lost more than 8% and 7% respectively.The most traded stocks by Bell Direct clients last week were Lake Resources (ASX:LKE), Core Lithium (ASX:CXO) and Orora (ASX:ORA).All three key US market indices closed higher on Friday as investor beliefs that inflation may have reached its peak were strengthened on Thursday with inflation data coming in below analysts’ expectations. Consumer discretionary stocks led the charge in the US on Friday with the sector adding more than 2.3% while technology stocks were pushed higher by Meta jumping over 1% on reports of a new delivery partnership with DoorDash. The market rally extended into Europe on Friday with the Stoxx, FTSE and DAX each closing in the green as investors digested an array of economic data released including the UK economy contracting in the second quarter of 2022 as the country’s cost of living crisis worsened.What to watch today:Following a strong session for the US to close out last week, the Australian market is set to open higher this morning.Reporting season remains the key focus of trading this week with Beach Energy (ASX:BPT), Bendigo and Adelaide Bank (ASX:BEN), Bluescope Steel (ASX:BSL), G.U.D Holdings (ASX:GUD), GPT Group (ASX:GPT) and tech giant JB Hi-Fi (ASX:JBH) releasing results today.Taking a look at the commodities, crude oil continues to decline from highs back in March on the back of OPEC lowering its demand forecast for the year ahead amid growing signs that a slowdown in global economic growth will curb oil demand. Iron ore is down almost half a percent, and natural gas prices have pulled back from a high on Friday, but gold is trading just under 1% higher.This week, we will be keeping a close eye on several economic data releases including the RBA’s meeting minutes for August, Australia’s Wage Price Index, US retail sales and Australia’s unemployment rate later in the week.Trading Ideas:Trading Central have identified a bearish signal on Northern Star Resources (ASX:NST) through a ‘Continuation Wedge’ chart pattern forming, indicating the stock price may fall from the close range of $8.26 to $6.60-$6.90. The pattern formed over a 17-day period which is roughly the period of time in which the target price range may be achieved, according to standard principles of technical analysis.Trading Central has also identified a bullish signal on Clean Seas Seafood (ASX:CSS) on the basis of a ‘bottom triangle’ chart pattern forming over 33-days, indicating the stock price may rise from the close of 60 cents per share to between 73 – 77 cents per share. The chart pattern forming over 33-days is roughly the period of time in which the target price range may be achieved, according to standard principles of technical analysis.

The Aussie share market advanced 0.8% this week (Mon-Thu), with reporting season in full swing. 70% of companies either beat or reported earnings in line with expectations.  In this week’s wrap, Sophia covers:(0:32) Where to consider investing now(1:47) Why lithium shares soared this week(2:33) OZ Minerals (ASX:OZL) jumping 35% after rejecting takeover offer(3:00) The most traded stocks & ETFs by Bell Direct clients(3:37) Two economic news items to watch out for

Yesterday, our local market ended its three-day winning streak, declining 0.5% with nearly all sectors posting losses, except for the utilities and financial sector. The biggest laggard on the market was the tech sector, which follows the 1.2% tumble seen over in Wall Street for its Nasdaq index on Tuesday. The biggest gainer yesterday was Imugene (ASX:IMU), which rose 9.3% after the company provided an update on its clinical trial, which is currently in its first Phase, recruiting patients with triple negative breast cancer. Meanwhile the worst performer was St Barbara (ASX:SBM), which issued its financial year 2023 guidance, entailing higher gold production however at higher costs compared to financial year 2022. The gold miner will postpone its full-year results presentation to the 31st of August. The most traded stocks by Bell Direct clients yesterday included the BetaShares Australian Strong Bear Hedge Fund (ASX:BBOZ), Mineral Resources (ASX:MIN) and BHP Group (ASX:BHP).In the US, all three benchmarks rallied after a key inflation reading showed a better-than-expected slowdown for rising prices. The headline CPI for July lifted 8.5% year over year, whereas economists were expecting increases of 8.7%. And it was flat compared to June. So now the Fed will take this report into consideration along with other key economic data, ahead of its September meeting where it’s expected to lift interest rates again. And major tech stocks outperformed the market with Netflix up 6% and Meta up 5.8%. What to watch today:Our market is expected to follow the US and open 1% higher if you go by the SPI futures. Reporting wise, some companies announcing their earnings today include AMP (ASX:AMP), Mirvac Group (ASX:MGR), QBE Insurance Group (ASX:QBE), ResMed (ASX:RMD), Arena REIT (ASX:ARF) and Telstra (ASX:TLS). In terms of forecast expectations:Citi is expecting ResMed to deliver $US827m NPAT. While consensus expects Telstra to deliver $2.085b NPAT And Mirvac Group, Citi is expecting the property developer to deliver NPAT of $615m, while consensus is less modest at $576.4m. In commodities:Oil prices were trading higher at about US$91 a barrel, following renewed gasoline demand and a cooler-than-expected inflation reading that drove investors into riskier assets.The gold price was also up, given the tame inflation report may mean the Fed may not opt for aggressive rate hikes. The spot iron ore price trades at US$111 a tonne.Rio Tinto (ASX:RIO) and SSR Mining (ASX:SSR) are set to go ex-dividend today.Online foreign exchange company OFX Group (ASX:OFX) will be holding its AGM today. Trading Ideas:Citi have decided to maintain its Sell rating on Commonwealth Bank (ASX:CBA) with a price target of $90.75. Citi believe CBA’s results were in line with expectations and expect the focus to remain on the core earnings outlook where CBA has provided very little detail, instead referencing that medium term outlook on NIM, net interest margin (from Feb) is unchanged. What did other brokers think? Well Macquarie also have an Underperform rating with a less modest price target of $78. Trading Central has a bearish signal on Metcash (ASX:MTS) indicating that the stock price may fall from the close of $4.13 to the range of $3.00 - $3.20 in the next 65 days according to standard principals of technical analysis.  

Our local market closed 0.13% higher yesterday as communication services and tech stocks advanced the most. Energy stocks also rallied yesterday, following the news that OZ Minerals (ASX:OZL) rejected BHP’s takeover bid. Copper and lithium stocks also gained, with Lake Resources (ASX:LKE) closing the trading session more than 15% higher. LKE was followed by Megaport (ASX:MP1), which released solid full-year results. Meanwhile, Imugene (ASX:IMU) and NAB declined the most.The major miners were the most traded stocks by Bell Direct clients. These were Lake Resources (ASX:LKE), BHP Group (ASX:BHP), Fortescue Metals (ASX:FMG) and Pilbara Minerals (ASX:PLS). In global markets, investors are trading cautiously as we wait on US inflation data. July’s US consumer price index data will be released at 10:30pm AEST today. European and US equities closed lower as investors assess the potential pace of the US Fed’s monetary policy tightening. The next Fed meeting isn’t until September; however tonight’s inflation figures will give us an indication of what to expect. In Europe, the STOXX 600 ended 0.6% lower with tech stocks leading the losses. And over in New York, the Dow Jones was down 0.2%, the S&P500 down 0.4% and the Nasdaq down 1.2%. What to watch today:The Australian market is set to fall 0.56% at the open this morning, going by the SPI futures.  In commodities, Oil is trading in the red, around US$90 per barrel, as investors weigh the potential for additional supply from Iran against the suspension of Russian oil exports. So as oil softens, watch energy producers such as Beach Energy (ASX:BPT) and Santos (ASX:STO). The price of gold however is trading higher, as investors continue to bid on the safe-haven metal as concerns around a US recession and geopolitical tensions weigh on the market. Some gold stocks to watch include Evolution Mining (ASX:EVN) and Northern Star Resources (ASX:NST). Iron ore is also higher, around US$113 a tonne. The price has rebounded after hitting its seven-month low at US$100.  Commonwealth Bank (ASX:CBA), Computershare (ASX:CPU), Dexus (ASX:DXI) and Mineral Resources (ASX:MIN) will be releasing their results today. For CBA, Citi are expecting NPAT to be $9,578 million while consensus is lower at $9,282 million. Currently, Citi have a Sell rating on CBA with a price target of $90.75, and Morgan Stanley came out yesterday with an Underweight rating and a price target of $82. And watch out for Bell Direct’s coverage on CBA’s results later today. Trading Ideas:Bell Potter maintain a Buy rating on Coronado Global Resources (ASX:CRN) after the company reported its half-year results yesterday. NPAT came in at US$562 million, above Bell Potter’s estimate of $522 million. The company also declared an ordinary interim dividend of US 7.5cps, higher than Bell Potter’s estimated US 6cps. CRN also maintained their guidance outlook, which includes a strong half in coal output. The broker increased their price target from $1.95 to $2.05, and at CRN’s current share price of $1.60, this implies 28.1% share price growth in a year. Trading Central have identified a bearish signal in AGL Energy (ASX:AGL), indicating that the stock price may fall from the close of $8.47 to the range of $7.75 to $7.90 over 17 days, according to the standard principles of technical analysis. 

Yesterday, the Aussie share market started the new trading week in the green, with a very small gain of 0.1%. Leading the market was the energy, materials, and utilities sectors, all up over 1.4%. Weighing on the market however was the consumer discretionary, real estate and industrials sectors, which were all down more than 1%. Looking at the ASX200 leaderboard, OZ Minerals (ASX:OZL) jumped 35.3% following BHP’s takeover bid, which OZL rejected as its board believes the offer significantly undervalues the company. Lake Resources (ASX:LKE) continues to rise, up nearly 16% yesterday, despite no news out from the company. Supportive factors include that the price of lithium still trades near record highs. The biggest decliners yesterday included Suncorp (ASX:SUN), Magellan Financial Group (ASX:MFG) and Credit Corp Group (ASX:CCP). The most traded stocks by Bell Direct clients yesterday included Lake Resources (ASX:LKE), Sayona Mining (ASX:SYA), Zip Co (ASX:ZIP), as well as OZ Minerals (ASX:OZL).Moving to the US, the market was mixed. The Dow Jones managed to post a small gain of 0.09%, while the S&P500 and Nasdaq were both down around 0.1%. Putting pressure on the market was  tech company, Nvidia, which announced weaker-than-expected revenue for the second quarter, which consequently impacted semiconductor stocks. And some clean energy shares lifted after the Senate passed the Inflation Reduction Act, which includes billions of dollars aimed at addressing climate change. What to watch today:Our local market is expected to open lower, down 0.12%, in line with the mixed US session.In economic news, both the NAB business confidence for July and the Westpac consumer confidence for August will be released today.In company reports, today we’ll hear from Megaport (ASX:MP1), Coronado Global Resources (ASX:CRN), News Corp (ASX:NWS) and REA Group (ASX:REA). Bell Potter forecasts REA’s NPAT to come in at $404 million, while consensus is a bit more modest at $411.2m, and consensus expects CRN’s NPAT to come in at $430m. Keep watch of these stocks today to see if their results are in line with expectations. Keep watch of NAB today as the company will be releasing a third quarter trading update. Moving to commodities, oil prices lifted after positive economic data was released out of China. The gold price also gained following a pullback in the US dollar and US Treasury Yields, while the spot iron ore price traded slightly lower at US$112 a tonne. Trading Ideas:Bell Potter have downgraded its rating on OZ Minerals (ASX:OZL) from a Buy to a Hold. Bell Potter views BHP’s proposal to takeover OZ Minerals (ASX:OZL) as offering competitive value but likely to be improved. However, the risk-adjusted potential upside is insufficient for Bell Potter to maintain a Buy rating, therefore the downgrade to a Hold, with a strategy to see through to the completion of an all-cash acquisition of OZL at the current offer price or higher. Bell Potter has made no changes to their earnings forecasts and have increased their price target by 2% to match the current offer price of $25.00 per share. Trading Central has a bearish signal on Data3 (ASX:DTL) indicating that the stock price may fall from the close of $6.21 to the range of $4.40 - $4.70 in the next 19 days according to standard principals of technical analysis.  

Our local market closed 0.6% higher on Friday, with materials advancing the most as gold miners extended gains, while energy stocks fell alongside a drop in the oil price. NOVONIX (ASX:NVX) jumped 13.7% and was followed by miners including Liontown Resources (ASX:LTR), Ramelius Resources (ASX:RMS), Silver Lake Resources (ASX:SLR) and Core Lithium (ASX:CXO). Stocks that declined the most on Friday were Megaport (ASX:MP1) and Block (ASX:SQ2).The most traded stocks by Bell Direct clients on Friday were BHP Group (ASX:BHP), Lake Resources (ASX:LKE) and Whitehaven Coal (ASX:WHC). European stocks closed lower with the STOXX 600 closing down 0.8%. Most sectors were in negative territory, with tech stocks down the most, falling 2.4%. A strong US jobs report came in in the US, however it wasn’t quite enough to pull markets higher, as the three major benchmarks closed mixed. The labour market added more jobs in July than was expected, and the US unemployment rate dropped to 3.5%, while wage growth rose 5.2% higher than a year ago, signalling that high inflation is still a key concern. The Dow Jones closed just 0.2% higher, while the S&P500 fell 0.2%, and the Nasdaq dropped 0.5%. What to watch today:Following the US, the Australian market is set to open flat this morning. OZ Minerals (ASX:OZL) rejected a takeover proposal by BHP for $8.34 billion, undervaluing the gold and copper miner. The offer was made on Friday – it was a $25 per share offer which was a 32% premium to the stock’s last close. So, watch the share price movements of BHP and OZL today.  Reporting season is picking up this week with quite a few companies releasing their earnings results. This morning, rail freight operator Aurizon Holdings (ASX:AZJ) and Suncorp (ASX:SUN) both published their full year results. SUN delivered group NPAT of $681 million, down 34%, impacted by volatile investment markets and elevated natural hazard costs. Home lending was up 9% or $4.1 billion. And SUN announced a final fully franked ordinary dividend of 17 cents per share, representing a 75% payout ratio. AZJ’s underlying EBITDA was only 1% lower than the prior comparable period. Cashflow increased 13%, and AZJ announced a final dividend of 10.9 cents per share fully franked. In commodities, the price of oil is lower, heading for an over 9% weekly loss and wiping out the gains triggered by Russia’s invasion of Ukraine. Gold is also trading lower as markets react to a strong payroll report in the US. And iron ore continues to drop around worries of China’s ropery crisis and steel production cuts. Trading Ideas:Citi have a Buy rating on City Chic Collective (ASX:CCX) with a price target of $3.00. They see potential for long duration international growth underpinned by market share gains. The expected share price return is 35.7%. Trading Central have identified a bullish signal in Resolute Mining (ASX:RSG), indicating that the stock price may rise from the close of $0.30 to the range of $0.34 - $0.35 over 41 days, according to the standard principles of technical analysis. 

The Aussie share market lifted 0.4% this week (Mon-Thu), with tech shares outperforming. Reporting season will be in full swing next week, with a number of well-known companies reporting to the ASX.   In this week’s wrap, Sophia covers:(0:35) Five external factors that will impact company earnings(1:22) Bell Potter and Citi's forecasts for next week's company results(2:53) Tech shares soaring after strong US earnings reports(4:25) The most traded stocks & ETFs by Bell Direct clients(5:08) Three economic news items to watch out for

Yesterday, the Aussie share market started the trading session in negative territory, down about 1% in the morning, but fought back in the afternoon to close 0.3% lower. The tech sector was the top performing sector, up 2.2%. Materials also managed to post a small gain of 0.35%. However, the rest of the sectors were in the red. Looking at the ASX200 leaderboard, Pinnacle Investment Management (ASX:PNI) jumped 12.2% after its strong full-year results, which showed profits had grown in financial year 2022. Zip (ASX:ZIP) was up 8.6%, continuing to lift since its quarterly report a couple of weeks ago. And some other tech shares like NOVONIX (ASX:NVX), EML Payments (ASX:EML) and Megaport (ASX:MP1) were amongst the top gainers for the day. On the flip side, the worst performers yesterday included Centuria Industrial REIT (ASX:CIP), Star Entertainment Group (ASX:SGR) and City Chic Collective (ASX:CCX).The most traded stocks by Bell Direct clients yesterday included Lake Resources (ASX:LKE), telehealth company ResApp (ASX:RAP), as well as Zip (ASX:ZIP). Moving to the US, stocks rallied off the back of better-than-expected economic data and a rebound in tech stocks. The positive July services PMI helped investors shake off worries of a recession and sent traders back to beaten-down tech stocks. The Dow Jones was up more than 400 points, the S&P500 lifted 1.6% and the Nasdaq jumped 2.6%, boosted by solid gains from Apple, Amazon, and Microsoft. European markets also closed higher after the strong US data reported. What to watch today:In line with the positive session seen in the US and in Europe, the ASX200 is expected to rise 0.47% at the open if you go by the SPI futures.In economic news, balance of trade data for June will be released. Australia's trade surplus lifted to a record high of $15.97 billion in May 2022, easily beating market forecasts of a surplus of $10.73 billion, as exports rose more than imports, amid solid global demand and soaring commodity prices. Today’s reading is expected to come in at $14 billion, so stay tuned at 11:30am AEST.Moving to commodities, oil prices have fallen after a surprise increase in US crude and gasoline inventories weighed on prices. The WTI oil price is trading at around US$90 a barrel. The gold price was pressured by a stronger dollar and Treasury yields and currently trades at US$1,763 an ounce, and the spot iron ore price trades slightly down, at US$117 a tonne.If you hold Arena REIT (ASX:ARF), Prospect Resources (ASX:PSC) or Uniti Group (ASX:UWL), you will receive your dividend payment today. Trading Ideas:Bell Potter have maintained its Buy rating on Technology One (ASX:TNE) with an increased price target from $12.50 to $14.25. Bell Potter forecast double digit underlying EPS growth in each of the next three years. TNE also recently reported a strong result which was generated by an increase in the average number of products per customer, a large number of Software as a Service (SaaS) flips and also CPI increased for those customers in Australia who renewed contracts in the first half of FY22. At its current share price of $12.30, this implies about 16% share price growth in a year.   Trading Central has a bullish signal on Fletcher Building (ASX:FBU) indicating that the stock price may rise from the close of $4.77 to the range of $5.55 - $5.70 in the next 71 days according to standard principals of technical analysis.  

The ASX200 closed just 0.07% in the green, after earnings results from Appen (ASX:APX) and Credit Corp (ASX:CCP) disappointed investors. APX’s shares dropped after reporting a worse half than forecasts, as underlying earnings and revenue fell, while CCP’s shares dropped after reporting “challenging conditions”. Also yesterday, the RBA announced a further 50 basis point rise to the cash rate, now at 1.85%. This was in line with expectations, so we didn’t see any large impacts from the announcement. The market was trading a little lower leading up to the RBA’s announcement at 2:30pm, but then rose in afternoon trade, following the news. The consumer discretionary sector, consumer staples and tech advanced the most, while real estate and materials declined.The best performing stock was BNPL company Zip (ASX:ZIP) which gained 15% yesterday, and it was followed by the a2 Milk Company (ASX:A2M) and St Barbara (ASX:SBM). The worst performing stock was United Malt Group (ASX:UMG), after the company downgraded its FY22 guidance.  The most traded stocks by Bell Direct client yesterday were the BetaShares Australian Strong Bear Hedge Fund (ASX:BBOZ), Whitehaven Coal (ASX:WHC) and Rio Tinto (ASX:RIO).European shares were in the red, as investors track risk-off sentiment globally and whether last month’s rally has any further to go. Corporate earnings also remained a core driver of individual share price movement with shares such as BP and Ferrari publishing results. The STOXX 600 closed 0.2% lower, with financial services stocks falling 1.7%. Most sectors were in negative territory, however we did see oil and gas stocks gain.US equities were also lower, for the second day, amid more hawkish commentary from the Federal Reserve. The Dow Jones fell 1.2% or just over 400 points, weighed down by disappointing earnings from Caterpillar. The S&P500 closed 0.7% lower. And the Nasdaq fell 0.2%, however the index did see a 19% jump in Uber shares following its corporate earnings release. Stocks were also reacting to comments made by the Chicago Fed President Charles Evans, who said he hopes the central bank can raise its benchmark interest rate by half a percent. So note, there is no Fed meeting in August – the next Fed interest rate decision will be at the end of September.What to watch today:Following the negative run the US, the Australian market is set to fall 0.16% at the open this morning, going by the SPI futures.In commodities, oil is trading lower with continued worries around tight supply, that has more than offset worries over an economic slowdown. Investors are also awaiting OPEC’s meeting, for any indication of a further boost in crude supply. Gold is currently falling, however did see a big jump, hovering at its highest levels in four weeks, as a falling dollar and Treasury yields supported bullion demand. And iron ore is recovering from what was a seven-month low of US$100 a tonne, after news of declining steel inventories in China.Watch the share price movements of BWP Trust (ASX:BWP), SSR Mining (ASX:SSR), Pinnacle Investment Management Group (ASX:PNI), and Genworth Mortgage Insurance Australia (ASX:GMA). Those companies will be reporting their earnings results today.Trading Ideas:Bell Potter maintain a Buy rating on United Malt Group (ASX:UMG), after the company downgraded its FY22 guidance. Estimated EBITDA guidance has been downgraded from $115-140 million to $100-108 million, and the main drivers of this are in the processing division, with continued margin pressure from higher barley prices and continued delays in customer shipments. Bell Potter say the export data demonstrated a recovery in malt trade flows from the largest producing regions and a general bottoming in implied malt-barley premiums, and that they view these as precursors to a recovery in earnings. The broker has also relooked at their

The Aussie share market started the new trading week with a gain of 0.7%, supported by gains in utility, energy, and healthcare stocks. While three sectors posted losses: tech, consumer discretionary and real estate.  Looking at the ASX200 leaderboard, the top performer was Allkem (ASX:AKE) up 4.5%, despite any news out from the company. It seems the gain could be attributed to the longer-term uptick spurred by the company’s recent record quarterly revenue report. Agricultural business Elders (ASX:ELD) was also up after Goldman Sachs indicated that the company was a strong buy, with a price target of $21, which at its current share price of $11.75, implies about 80% share price growth in a year. Meanwhile, the biggest decliner was United Malt Group (ASX:UMG), which fell a massive 17.2% after the company cut its guidance for the second time this year.  The most traded stocks by Bell Direct clients yesterday included ANZ (ASX:ANZ), Lake Resources (ASX:LKE) and the Magellan Infrastructure Fund (ASX:MICH). Moving to the US, equities fell, as investors question whether the recent rally has further to run. All three of the major indexes snapped their three-day winning streaks. The Dow Jones was down close to 50 points, the S&P500 dropped 0.3% and the Nasdaq was down about 0.2%. What to watch today:In line with the negative session in the US and in Europe, the ASX200 is expected to fall 0.3% at the open if you go by the SPI futures.In economic news, the RBA will announce its next cash rate decision this afternoon. The central bank is tipped to lift the official cash rate by 50 basis points to 1.85%, and this would mark the third consecutive increase of this magnitude, which has never happened in Australia. Despite last week’s headline inflation coming in less than expected, the door still remains open for a larger-than-expected rate hike as the country’s core inflation reading actually came in higher than the market expected, and this is used as the basis for RBA monetary policy.Reporting wise, it’s a light week of results. Today, debt collector, Credit Corp Group (ASX:CCP) and Centuria Office REIT (ASX:COF) will announce their earnings results. And Virgin Money UK (ASX:VUK) will be releasing its Q3 trading update. In commodities: The gold price nearly hit a one-month high off the back of a weaker US dollar. The gold price is currently trading at around US$1,771 an ounce.Oil prices dropped significantly, after weak manufacturing data from China and Europe weighed on the demand outlook. Investors are also bracing for this week’s OPEC meeting on supply. The WTI crude oil price trades at US$94 a barrel.The spot iron ore price trades slightly down, at US$117 a tonne.Trading Ideas:Bell Potter have maintained its Buy rating on Janus Henderson (ASX:JHG) with a price target of $43.50 (that’s 4.4% lower than its previous price target of A$45.50). JHG reported worse than expected Q2 results. Bell Potter forecasted assets under management (or AUM) of US$319b, however JHG reported AUM of US$299b, well below Bell Potter’s expectations. Despite the miss, Bell Potter believes JHG is still worth considering given markets should start to recover, JHG has a new direction with its newly appointed CEO and the business is still the prospect of merger and acquisition. At its current share price of $36.78, this implies about 18% share price growth in a year.   Trading Central has a bullish signal on AMP (ASX:AMP) indicating that the stock price may rise from the close of $1.10 to the range of $1.15 - $1.17 in the next 28 days according to standard principals of technical analysis.  

Week-to-date the market is up 2.3%, and up 0.8% in Friday’s session, as real estate, utilities and tech advanced.Companies have also been reporting their earnings for the June quarter, which has caused a bit of share price movement. On the ASX200, St Barbara Mines (ASX:SBM) gained after reporting a 40% jump in gold production. And EML Payments (ASX:EML) rebounded after a heavy fall earlier in the week, while Zip (ASX:ZIP), BrainChip (ASX:BRN) and PointsBet Holdings (ASX:PBH) declined the most.The most traded stocks by Bell Direct clients on Friday were BHP Group (ASX:BHP), Treasury Wine Estates (ASX:TWE), Sierra Rutile (ASX:SRX) and Lake Resources (ASX:LKE).Overseas, European shares actually closed July as their best performing month since November 2020. Recently GDP data also showed that economic growth in the euro zone accelerated in the second quarter, and that’s despite the rising gas prices and high inflation figures. The STOXX 600 jumped 1.3%, with oil and gas stocks in the lead.US equities also had a positive run, rising for the third straight day. Strong earnings results have been coming in from the major tech names in the US, which has recently overshadowed the concerns that market was having about a recessionary environment and high inflation. The Dow Jones closed 1% higher or more than 300 points, the S&P500 up 1.4% and the Nasdaq up 1.9%.What to watch today:The SPI futures are suggesting the Australian market will rise 0.67% at the open this morning.Keep watch of Ramsay Healthcare (ASX:RHC) today, with reports that there’s been progress with the company’s takeover approach by private equity company KKR. Back in April, Ramsay received a non-binding $88 per share offer from KKR.Healthcare stocks are also in focus after the World Health Organisation declared Monkeypox as a global health emergency. The disease has so far spread in 74 counties, and therefore shares such as CSL (ASX:CSL), Telix Pharmaceuticals (ASX:TLX) and Clinuvel Pharmaceuticals (ASX:CUV) may be ones to look out for.In commodities, oil is trading more than 2% higher on continued reports of tight supply. The gold price also gained after negative GDP data in the US pushed markets to scale back hawkish expectations from the Fed. Meanwhile, iron ore is trading slightly lower, however has been recovering, rising from a seven-month low.In economic data, this morning the S&P Global Manufacturing PMI will be released at 9am, and ANZ’s data on job advertisements for July will be released at 11:30am AEST.Bayrock Resources (ASX:BAY) as it lists on the ASX today.Trading Ideas:Bell Potter maintain a BUY rating on BCI Minerals (ASX:BCI) after the company reported its June quarter. EBITDA rose to $7.7 million from $3.5 million in March, despite sales volumes dropping 10%. Bell Potter have lowered their price target to $0.50, and at BCI’s current share price of $0.25, this implied 100% share price growth in a year. Trading Central have identified a bullish signal in Lake Resources (ASX:LKE) indicating that the stock price may rise from the close of $0.81 to the range of $0.99 to $1.03 over 20 days, according to the standard principles of technical analysis.

The Aussie share market advanced 1.5% this week (Mon-Thu), with the materials sector leading the way. Reporting season also kicked off with some key companies releasing their results.   In this week’s wrap, Sophia covers: (0:34) What to consider this reporting season(1:20) Rio Tinto's (ASX:RIO) weaker than expected half-year results(2:30) BNPL stock, Zip (ASX:ZIP) almost tripling its value this month(2:50) The most traded stocks & ETFs by Bell Direct clients(3:29) Five economic news items to watch out for 

Yesterday, our local market posted a modest gain of 0.2%, its second session of gains. While the market started off slowly, it rose in the afternoon after the latest inflation reading, which showed that the price we paid for goods and services over the past year had lifted by 6.1%. That’s the strongest lift we’ve seen in two decades, however it wasn’t as hot as consensus’ expectation of 6.3%. This means in next Tuesday’s RBA meeting, we’re more likely going to see a 0.5% rate hike rather than the 0.75% originally expected.Looking at the sector performances, six of the 11 sectors ended higher, including healthcare, financials, and consumer discretionary. The gains in these sectors offset the losses we saw in some mining and energy stocks. The biggest gainer on the ASX200 was once again BNPL stock Zip (ASX:ZIP), which was up 21%. Sezzle (ASX:SZL) also jumped a massive 96%, after no news out from the company. The stock then subsequently finished the day in a trading halt. Other top performer’s included BrainChip (ASX:BRN), Silver Lake Resources (ASX:SLR) and Iress (ASX:IRE). The worst-performing stock was City Chic Collective (ASX:CCX), which closed 5.1% lower, followed by shares in Champion Iron (ASX:CIA) and BlueScope Steel (ASX:BSL).The most traded stocks by Bell Direct clients yesterday included National Australia Bank (ASX:NAB), Pilbara Minerals (ASX:PLS) and Whitehaven Coal (ASX:WHC).Moving to the US, equities rallied after the US Fed announced its much anticipated 0.75% rate increase in its efforts to fight inflation, however left the door open about the size of the rate move at its next meeting in September. Investors were also encouraged after the central bank noted that it doesn’t believe the economy is currently in a recession. We saw the Dow Jones close over 400 points higher, the S&P500 up 2.6% and the Nasdaq up 4.1%. What to watch today:In line with the positive session in the US, the ASX200 is expected to rise 0.77% at the open if you go by the SPI futures.In economic news, preliminary retail sales for June will be released at 11:30am AEST. Reporting wise, Fortescue Metals (ASX:FMG), Mineral Resources (ASX:MIN), Pilbara Minerals (ASX:PLS) and Sandfire Resources (ASX:SFR) will be reporting their quarterly production results. And Ai-Media Technologies (ASX:AIM) and Unibail-Rodamco-Westfield (ASX:URW) will be reporting their earnings results.Moving to commodities, oil prices rose over 2%. The gold price reversed its recent losses and traded in the green after the Fed announced its rate hike. And the spot iron ore price trades 5.8% higher at US$110 a tonne. Mineral exploration company, Coolabah Metals will be debuting on the ASX today, trading under the ticker code CBH. Australian Agricultural Company (ASX:AAC) will be holding its AGM today.If you hold Clime Capital (ASX:CAM), Sunland Group (ASX:SDG) or Turners (ASX:TRA) you will receive your dividend payment today.Trading Ideas:Citi have maintained its Buy rating on Rio Tinto (ASX:RIO) with a price target of $120. After market close yesterday, RIO reported weak first half results with an underlying EBITDA of US$15.6b, which was 3% below consensus and 10% lower than Citi’s expectations. The group reported first half 2022 EPS of 533 US cents and an interim dividend of 267 US cents per share, which implies a 50% payout against market expectations of 65-70% payout. Now, at its current share price of $96.98, this implies about 24% share price growth in a year.   At its current share price of $96.98, this implies about 24% share price growth in a year.   Trading Central has a bullish signal on Lake Resources (ASX:LKE) indicating that the stock price may rise from the close of $0.74 to the range of $0.97 - $1.03 in the next 26 days according to standard principals of technical analy

Yesterday, our local market nudged 0.3% higher, reaching a six-week high, with six of the 11 industry sectors posting gains. Energy shares led the way. Meanwhile, consumer discretionary and healthcare shares were the biggest decliners. Looking at the ASX200 leaderboard, BNPL stock Zip (ASX:ZIP) advanced the most, rising nearly 20%, and closing above $1 for the first time in two months. There was no news out from Zip, so it’s likely investors are still feeling positive about last week’s quarterly update. Another top performer was Paladin Energy (ASX:PDN). Its share price gained 8.1% following the production restart of one of its uranium projects. The worst performers yesterday included Iress (ASX:IRE), Flight Centre (ASX:FLT) and Perseus Mining (ASX:PRU). The most traded stocks by Bell Direct clients yesterday included National Australia Bank (ASX:NAB), Lake Resources (ASX:LKE) and Zip Co (ASX:ZIP).Moving to the US, all three benchmarks closed lower. Stocks fell after Walmart cut its earnings forecast because of rising food inflation. This dragged down other retail shares and added concern that consumer spending might not be strong enough to keep the US out of a recession. And on Tuesday, the US Fed began its two-day policy meeting. Investors are widely expecting a three-quarter percentage point hike and will be looking for clues on the future interest rate path. What to watch today:In line with the poor session we saw in the US, the ASX200 is expected to fall 0.54% at the open if you go by the SPI futures.The ABS will release its latest inflation figure, also known as the Consumer Price Index. It’s likely to be a dull announcement for investors and households, with the annual reading expected to come in at 6.2%, which will be the highest reading in more than 30 years, leaving the door open for the RBA to continue its aggressive rate hikes. IGO (ASX:IGO) and St Barbara Mines (ASX:SBM) will be reporting their quarterly production results. Rio Tinto (ASX:RIO) will be reporting its earnings results after market close today. Moving to commodities: Natural gas hit its highest level since 2008, and is on pace for its best month as Russia cut supply and as high temperatures around the world stoke demand. So keep watch of ASX gas companies like AGL Energy (ASX:AGL) and Origin Energy (ASX:ORG). The oil price fell 1.3% to US$95 a barrel. Gold also came under pressure, trading at US$1,717 an ounce.The spot iron ore price trades 1% higher at US$104 a tonne. Iluka Resources’ demerger, Sierra Rutile, will be debuting as its own ASX-listed company today under the ticker code SRX on a deferred settlement basis.Kelly Partners Group (ASX:KPG) and Mirrabooka Investments (ASX:MIR) are set to go ex-dividend today. And lastly if you hold Premier Investments (ASX:PMV) you will receive your dividend payment today.Trading Ideas:Bell Potter have maintained its Buy rating on Perpetual (ASX:PPT) however with a reduced price target from $42 to $38.40. At its current share price of $28.97, this implies about 33% share price growth in a year. Trading Central has a bullish signal on Allkem (ASX:AKE) indicating that the stock price may rise from the close of $10.45 to the range of $12.60 - $13.20 in the next 37 days according to standard principals of technical analysis.

Yesterday the market closed completely flat, however we did see materials and utilities gain over 1%. An uptick in iron ore, nickel, aluminium and zinc helped boost some mining stocks higher, while tech shares declined. Leading the tech losses was EML Payments (ASX:EML), which fell more than 22%, after reporting that its facing some challenges regarding its remediation programme and their dealings with the Central Bank of Ireland. Meanwhile, stocks that gained were Insurance Australia Group (ASX:IAG), Steadfast (ASX:SDF), and Evolution Mining (ASX:EVN). Travel shares also advanced after Flight Centre (ASX:FLT) reported a “solid rebound in travel” and flagged a return to profitability in the next three months. The most traded stocks by Bell Direct clients were Treasury Wine Estates (ASX:TWE), Ioupay (ASX:IOU), and News Corporation (ASX:NWS). Over in New York, in afternoon trade US shares were lower as investors are trading cautiously ahead of the Fed’s meeting this week, as well as earnings results that are set to be released from a few of the large-cap growth companies. However, the Dow Jones closed 0.3% higher, the S&P 500 slightly rose 0.1%, while the Nasdaq fell 0.4%. Corporate earnings in the US are expected to pick up this week with some major tech names set to report. These include Apple, Meta, Microsoft and Amazon. What to watch today:The SPI futures are suggesting our market will rise 0.36% or 22 points at the open this morning. In commodities, oil is trading higher after what was three consecutive sessions of losses. The gold price however is trading down, while iron ore prices are up. Today watch the share price movements of Perseus Mining (ASX:PRU) and Regis Resources (ASX:RRL). Both companies are set to release their quarterly production reports today. Trading Ideas:Bell Potter maintain their Buy rating on Mineral Resources (ASX:MIN). The company has a growing portfolio of mining services and commodities businesses. Bell Potter have increased their price target on Mineral Resources from $70 to $75, and at its current share price of $46.82, this implies 60.2% share price growth in a year. Trading Central have identified a bullish signal in James Hardie Industries (ASX:JHX) indicating that the stock price may rise from the close of $35.34 to the range of $42.25 to $44 over 50 days, according to the standard principles of technical analysis. 

Our local market closed flat on Friday, however, did deliver its best week since March. On Friday, real estate and financials gained the most. All four major banks closed higher, and tech stocks also rallied. Leading the market was Pointsbet Holdings (ASX:PBH), Zip Co (ASX:ZIP) and EML Payments (ASX:EML), while the worst performers were Coronado Global Resources (ASX:CRN), Paladin Energy (ASX:PDN) and Webjet (ASX:WEB)The most traded stocks by Bell Direct clients on Friday were ANZ (ASX:ANZ) and National Australia Bank (ASX:NAB). European shares gained after the European Central Bank on Thursday announced a 50-basis point hike to interest rates, as expected, its first hike in 11 years. The STOXX 600 closed 0.4% higher, with travel and leisure stocks performing best. In the US, all three major benchmarks declined. The Dow Jones closed 0.4% lower, the S&P500 fell 0.9% however did finish the week higher, while the Nasdaq dropped 1.9%. The Nasdaq’s previous rally was halted by an earnings miss from Snap, which sent share falling 39% lower. The yield on the US 10-year note declined 12 basis points to 2.76%. What to watch today:The Australian share market is set to open lower, with the SPI futures suggesting a 0.18% fall at the open this morning. In commodities, oil extended losses for a third session, trading just below US$95 per barrel, amid continuing concerns of a US recession, as well as weakening gasoline demand with the rate hikes triggering slowdown concerns. On the other hand, gold is trading in the green, rebounding from a 16-month low. And iron ore is trading slightly higher, at levels last seen in December. Today watch mining company South32 (ASX:S32) as its set to release a quarterly update today. In economic data, this week investor focus will be on the Federal Reserves rate decision early Thursday AEST, as well as the Australian inflation rate for Q2 out on Wednesday. Commonwealth bank economists expect inflation to rise by 1.9% in the quarter, for an annual rate of 6.2%.Trading Ideas:Bell Potter maintain their BUY rating on Coronado Global Resources (ASX:CRN), following the companies June quarter update. Bell Potter expect CRN to generate strong free cash flow on their met coal price outlook. And while they expect global economic factors may see some short-term weakness in met coal markets, longer term supply-demand fundamentals do remain strong. Bell Potter have lowered their price target from $2.15 to $1.95, and at its current share price of $1.47, this implies 32.7% share price growth in a year. Trading Central have identified a bullish signal in Lendlease Group (ASX:LLC) indicating that the stock price may rise from the close of $9.87 to the range of $10.55 to $10.75 over 29 days, according to the standard principles of technical analysis. 

The Aussie share market rallied 3% this week (Mon-Thu), with almost all industry sectors in the green. Tech shares advanced the most after the US government passed a bill that will provide $50 billion in subsidies for computer chip manufacturing.   In this week’s wrap, Sophia covers:(0:16) Reporting season kicking off next week(1:14) How inflation impacts the gold price(2:20) Five tech stocks that outperformed(3:30) The most traded stocks & ETFs by Bell Direct clients(4:05) Three economic news items to watch out for

Yesterday, our local market advanced 1.7%, its best gain in around three weeks, again supported by a strong session in the US on Tuesday, after profit results from some well-known companies came in better than expected. We also heard from RBA Governor Phillip Lowe, who said he expected the RBA to lift the cash rate to 2.5%, but whether that eventuates, as well as how quickly that may happen “will be determined by the inflation outlook”, with the next inflation update due out next Wednesday. Sectors wise, all eleven industry sectors were in the green. The best performing sector was tech, followed by materials and real estate. Megaport (ASX:MP1) was the biggest gainer, up 23% yesterday, following it delivering EBITDA profit in the fourth quarter, a first for the company. Paladin Energy (ASX:PDN) lifted 10.5%, after its management decided to restart one of its mines due to strong uranium market fundamentals. On the flip side, the biggest decliners yesterday were NIB Holdings (ASX:NIB), Pendal Group (ASX:PDL) and Perseus Mining (ASX:PRU). The most traded stocks by Bell Direct clients yesterday included Sims (ASX:SGM), the BetaShares Australian Strong Bear Hedge Fund (ASX:BBOZ) and BHP Group (ASX:BHP).Moving to the US, all three benchmarks closed higher, boosted by a tech rally. Streaming giant Netflix surged after it reported it had lost 970,000 subscribers in the second quarter, which was less than the 2 million it had previously projected. Investors had been awaiting this earnings season for an indication on how companies are coping with the worst inflation in more than 40 years. So far, 12% of S&P500 companies have reported earnings, with 68% beating analyst expectations.What to watch today:The Australian share market is expected to fall 0.46% at the open if you go by the SPI futures, despite another solid session on Wall Street.Watch ANZ (ASX:ANZ) today as it is expected to return from its trading halt after its recent announcement to acquire Suncorp’s (ASX:SUN) banking division for $4.9 billion. Companies reporting today include Evolution Mining (ASX:EVN), Newcrest Mining (ASX:NCM), Santos (ASX:STO), Syrah Resources (ASX:SYR), Woodside Energy (ASX:WDS) and BNPL stock Zip (ASX:ZIP). Moving to commodities, softening US gasoline demand weighed on prices. The WTI Crude oil price declined about 2% to $US102 a barrel and the Brent price fell to US$106 a barrel. The gold price also came under pressure, following improving risk sentiment and a strong US dollar putting pressure on the safe haven asset, and the spot iron ore price trades flat at US$101 a tonne. If you hold Magellan Global Fund (ASX:MGF) or GrainCorp (ASX:GNC), you will receive your dividend payment today. Trading Ideas:Bell Potter have maintained its Buy rating on Beach Energy (ASX:BPT) with an increased price target from $2 to $2.40. BPT reported better than expected quarterly revenue of $504m, materially exceeding Bell Potter’s expectation of $430m. Bell Potter believe the business has a strong, fully funded energy production growth outlook and highlighted that BPT is trading at lower earnings multiples compared with its ASX-listed peers. At its current share price of $1.82, this implies about 32% share price growth in a year. Trading Central has a bullish signal on BrainChip (ASX:BRN) indicating that the stock price may rise from the close of $1.13 to the range of $1.24 - $1.28 in the next 30 days according to standard principals of technical analysis. 

Our local market closed 0.6% lower yesterday, partly due to comments made by the RBA’s deputy governor, who stated that the official interest rate will move “a fair bit higher than where we currently are.” This put pressure on tech shares, which are interest rate sensitive. They declined 3%. And only two of the 11 industry sectors gained: energy was the best performer, up 2.5% and utilities gained 1%.While Xero (ASX:XRO) and EML Payments (ASX:EML) declined with the broader tech sector, the top performers on the ASX200 were Lake Resources (ASX:LKE), Pendal Group (ASX:PDL) and Whitehaven Coal (ASX:WHC).WHC was also the most traded stock by Bell Direct clients. Its share price closed 5.5% higher, following its Q4 update where the company reported that it expects to deliver an EBITDA worth $3 billion for the 2022 financial year. And WHC reported a strong quarter off the back of record coal prices. A number of brokers yesterday released positive reports on the coal miner as well. Bell Potter rate WHC a Buy. Citi upgraded WHC from Neutral to Buy. Morgans have an Add rating and Macquarie and Credit Suisse have an Outperform rating. So, brokers are optimistic on WHC at the moment. Its current share price is $6.21, and broker price targets range from $6.70 by Morgans, to $7.85 by Citi.Overseas, European stocks rallied with earnings season kicking off, and positive momentum from Wall Street. The STOXX 600 index closed with a gain of 1.4%, and this week investors will be waiting for the European Central Bank’s policy meeting on Thursday in Frankfurt, as policymakers have given advance notice of the first-rate hike in 11 years.US equities saw a strong session overnight. The Dow Jones gained more than 750 points, up 2.4%, the S&P500 gained 2.8% and the tech-heavy Nasdaq closed with a 3.1% gain. This is off the back of strong corporate earnings reports coming in, bringing all three major averages above their 50-day moving averages for the first time since April.What to watch today:The Australian market is set to open higher, with the SPI futures suggesting a rise of 1.21% at the open this morning.In commodities,The price of oil is trading 2.5% lower currently, around US$100 per barrel, with reports that in at least the near term, it’s unlikely that supply gaps will be filled by additional output from OPEC. This is despite efforts from the US government to bring more oil to markets, in the aim of taming energy costs.The price of gold is trading slightly higher, however remains close to its lowest levels in almost a year, with the constant pressure of US monetary tightening.Seaborne iron ore has dropped 2%.Coal is trading higher. China is the world’s largest coal consumer and they’ve announced that they may lift an almost two-year ban on Australian coal. So, keep watch of coal stocks today.A few companies are set to release their quarterly reports, so keep watch of their share price movements today as well. These include 29Metals (ASX:29M), Allkem (ASX:AKE), Atlas Arteria Group (ASX:ALX), Beach Energy (ASX:BPT), Cooper Energy (ASX:COE), Northern Star Resources (ASX:NST), Perseus Mining (ASX:PRU) and Megaport (ASX:MP1).BHP released its quarterly report yesterday, and its production for copper and iron ore was in line with guidance. Following the report, Goldman Sachs reiterated its Buy rating, but trimmed their price target to $40.80. Macquarie, however, have a $50 price target, with an Outperform rating.Trading Ideas:Bell Potter maintain their Buy rating on Alkane Resources (ASX:ALK), as its June quarter update saw several important business development milestones. Bell Potter’s price target is $1.30, and at ALK’s current share price of $0.72, this implies 81.8% share price growth in a year.Trading Central have identified a bearish signal in ResMed (ASX:RMD), indicating t

Our local market started the new trading week with a gain of 1.2%, supported by a strong session on Wall Street and in Europe on Friday.Sectors wise, tech stocks led the day’s gains. Energy stocks also performed well after Brent oil prices jumped on Friday. Financials climbed about 1.4%, with three of the big four banks rising. Meanwhile, the healthcare sector dropped 0.5%. The best and worst ASX200 performers: BrainChip (ASX:BRN) surged 13.9%, following strong gains on the Nasdaq on Friday. BRN was not alone, other tech stocks also lifted, like Life360 (ASX:360), NOVONIX (ASX:NVX) and WiseTech Global (ASX:WTC). Building materials supplier, Boral (ASX:BLD) closed in the green also, up 6.2%. On the flip side, the worst performers included a2 Milk (ASX:A2M), Fisher & Paykel Healthcare (ASX:FPH) and Endeavour Group (ASX:EDV).   The most traded stocks by Bell Direct clients yesterday included Sims (ASX:SGM), PayGroup (ASX:PYG), the BetaShares Australian Strong Bear Hedge Fund (ASX:BBOZ) and Whitehaven Coal (ASX:WHC).Moving to the US, all three benchmarks closed lower following a late selloff that wiped out some strong intraday gains. The Dow closed 200 points lower and the S&P500 and Nasdaq both declined 0.8%. What to watch today:Following the negative session in the US, the SPI futures are suggesting that our market will open 0.32% lower.  Keep an eye on ANZ (ASX:ANZ) and Suncorp (ASX:SUN), after Suncorp accepted a $4.9 billion bid from ANZ to take over its banking business. ANZ is currently in a trading halt while it goes to its shareholders to raise $3.5 billion in additional funds to pay for the deal. This isn’t expected to be completed for at least 12 months as it requires a number of regulatory approvals.In economic news, today sees the release of the minutes from June’s monetary policy meeting held by the RBA. There are a number of Australian commodity companies reporting their Q4 results this week, including lithium player, Allkem (ASX:AKE) and oil companies Beach Energy (ASX:BPT) and Woodside Energy (ASX:WDS). Today, we’ll hear from the largest company on the ASX, BHP Group (ASX:BHP). Other companies reporting today include HUB24 (ASX:HUB) and Ampol (ASX:ALD). In commodities, oil prices lifted, boosted by growing concerns over gas supply from Russia and a lower dollar. The gold price firmed, as the pullback in the dollar helped bullion recover some of its recent losses. The spot iron ore price trades 4.3% lower at US100 a tonne.Trading Ideas:Bell Potter have maintained its Buy rating on Whitehaven Coal (ASX:WHC). WHC reported unaudited financial year 2022 EBITDA of $3b and year end net cash of $1b, which Bell Potter highlighted was an outstanding result. The better than expected result was driven by record thermal coal prices and strong price realisation. Yesterday, WHC rose 5.6% off the back of these strong results.  Trading Central has a bullish signal on investment advice company, Praemium (ASX:PPS) indicating that the stock price may rise from the close of $0.68 to the range of $0.87 - $0.91 in the next 53 days according to standard principals of technical analysis. 

The Australian market is down 1% week-to-date and closed 0.7% lower on Friday, weighed down by the materials sector. Materials dropped more than 3% on Friday and just over 6% in the week. This was mostly driven by a pullback in iron ore prices, with concerns about weak demand from China, with recurring COVID-19 outbreaks, as well as low profitability at Chinese steel mills. On top of this, there are also concerns over the Chinese property market and banking sectors, so these reports pushed iron ore prices into a bear market, and overshadowed reports of large stimulus packages in China. Rio Tinto (ASX:RIO)’s share price dropped on Friday with the fall in iron ore and the release of its quarterly update. The miner provided a bearish outlook, describing some difficulties facing China’s recovery from the pandemic lockdowns, as well as the impacts of the Fed’s rate hikes on demand. Goldman Sachs retain their Buy rating on RIO, so keep watch of its share price today. The broker says its share price could be great value and have slightly trimmed their price target to $124.10. Materials stocks fell across the board on Friday, however the worst performer was investment manager Pendal (ASX:PDL) after the group reported worse-than-expected outflows in the June quarter from its managed funds. The most traded stocks by Bell Direct clients on Friday were Whitehaven Coal (ASX:WHC), Rio, Mineral Resources (ASX:MIN) and BHP. China’s GDP growth missed expectations in the second quarter, sending Chinese markets lower. Despite this, European markets gained, with the Stoxx-600 up 1.8% by the close. And in New York, US equities rallied, following a round of major banks reporting their earnings results. The Dow Jones gained more than 600 points or 2.2%, the S&P500 up 1.9% and the Nasdaq gained 1.8%. What to watch today: The Australian share market is set to open higher, with the SPI futures suggesting a rise of 0.88% at the open this morning. Keep watch of ANZ’s share price movements today, with reports that ANZ will acquire accounting software MYOB, as well as interest in acquiring Suncorp Group (ASX:SUN). A capital raising to fund the deal is expected to be announced this morning. In commodities, oil is trading 2% higher, so look out for energy producers such as Woodside Energy (ASX:WDS). Gold has fallen slightly, while iron ore is currently trading 4% lower. So also watch the major mining stocks today. Trading Ideas: Citi have released their latest research report on the major banks: They rate ANZ Bank as a Buy with a price target of $30.75, while Commonwealth Bank (ASX:CBA) they rate as a Sell, with a price target of $90.75. Citi rate NAB as Neutral with a price target of $32.25, and they rate Westpac (ASX:WBC) as a Buy with a $29 price target. Trading Central have identified a bullish signal in Steadfast (ASX:SDF) indicating that the stock price may rise from the close of $5.10 to the range of $5.55 to $5.65 over 14 days, according to the standard principles of technical analysis. 

The Aussie share market declined 0.4% this week (Mon-Thu). Australia's unemployment rate for June dropped to 3.5%, which was well below the 3.8% expected, as the economy continues to recover from the pandemic. In this week’s wrap, Sophia covers:(0:14) The market's reaction to the latest US inflation reading(2:57) Coal stocks outperforming this week(3:35) Why BNPL stock Sezzle (ASX:SZL) fell 57%(3:57) The most traded stocks & ETFs by Bell Direct clients(4:30) Two economic news items to watch out for

Our local market ended yesterday’s session higher, rising 0.2% despite mining and energy stocks coming under pressure off the back of subdued commodity and metal prices. Sectors wise, the majority of the market posted gains, with the consumer discretionary, tech and communication services sectors advancing the most. While the energy sector declined 1.8%.As for the best and worst ASX200 performers, Megaport (ASX:MP1) was up the most, following a rebound in the tech sector, as well as a bullish broker note out of Goldman Sachs. The broker reiterated its buy rating with a $9 price target. MP1’s last closing price was $6.60, so this implies about 36% share price growth in a year. Qantas’ (ASX:QAN) shares also took off yesterday, lifting 4.3%. This comes as the airline announced it is removing vaccine mandates for international travellers commencing next week and following the drop in oil prices recently which has potentially eased the pressure on jet fuel costs. Now, on the flip side, major oil producer, Woodside Energy (ASX:WDS) saw a drop in its share price, off the back of the fall in oil prices, and other decliners yesterday included Viva Energy Group (ASX:VEA) and Alumina (ASX:AWC).The most traded stocks by Bell Direct clients yesterday included Whitehaven Coal (ASX:WHC), Rio Tinto (ASX:RIO) and BHP Group (ASX:BHP).Moving to the US, stocks fell after US inflation came in hotter than expected. The consumer price index increased 9.1% from a year ago during the month of June. This was above the 8.8% expected. So, this inflation reading could push the Federal Reserve into an even more aggressive position at its next meeting later this month. So as for the major benchmarks, the Dow shed 200 points, the S&P500 fell 0.5%, and the Nasdaq was down 0.2%. What to watch today:The SPI futures are suggesting our market will open slightly lower, down 0.06%. The unemployment rate for June will be released today at 11:30am AEST. It is estimated that 35,000 jobs were added to the local economy last month, which is potentially enough to see the unemployment rate ease to a low of 3.8%. This depends however on the workforce participation rate, which is expected to drop to 66.5%.  In commodities, oil prices edged slightly higher after their recent sell-off. The gold price rebounded as the US dollar retreated. And the spot iron ore price trades 4% lower at US107 a tonne.Watch Auckland International Airport (ASX:AIA) and Netwealth Group (ASX:NWL) today. AIA will be giving an update on its monthly traffic, while NWL will be providing a June quarter update.Botala Energy will be debuting on the ASX today. It’s an Australian energy company focused on exploration and development opportunities for natural gas and renewables in Botswana, and it will be trading under the ticker code BTE.Trading Ideas:Bell Potter have maintained its Hold rating on Bega Cheese (ASX:BGA) with a reduced price target from $4.20 to $3.80. At its current share price of $3.55 this implies 7% share price growth in a year. Trading Central has a bearish signal on Origin Energy (ASX:ORG), indicating that the stock price may fall from the close of $5.45 to the range of $3.50 - $3.90 in the next 146 days according to standard principals of technical analysis. 

The Australian market edged higher yesterday, quickly brushing off the weak lead from Wall Street. Materials shares declined the most, as commodity prices fell, while coincidentally the US dollar index rose to the highest level in 20 years, and the US dollar index is a measure against six currency counterparts. The fall in commodities also dragged the Australian dollar down to a two-year low. Buy-now-pay-later company Zip (ASX:ZIP) has mutually agreed to cancel its proposed merger with Sezzle, another BNPL stock. This announcement saw Zip gain 6% and was the best performing stock on the ASX200, while Sezzle (ASX:SZL) crashed 39% in yesterday’s session, and was the worst performing stock on the All Ords. Zip will be paying Sezzle $US11 million (AUD$16.4 million) for compensation costs.The most traded stocks by Bell Direct clients yesterday were Westpac (ASX:WBC), Whitehaven Coal (ASX:WHC) and BHP Group (ASX:BHP). European stocks were boosted by luxury and travel stocks. The STOXX 600 closed 0.5% higher, after having opened lower. US equities were lower however, ahead of June’s inflation report. The Dow Jones closed 0.6% lower, the S&P500 down 0.9% and the Nasdaq down 1%. The latest US Consumer Price Index data is scheduled to be released at 10:30pm AEST (Wednesday morning in the US). It’s expected to rise by 8.8% in June on a year-over-year basis. The last reading in May was 8.6%, and that was the largest increase the US had seen in CPI since 1981. Also, in the US reporting season for the second quarter has begun. The major banks are set to report this week: JP Moran and Morgan Stanley will post results on Thursday before the bell. And the yield on the US 10-year note fell 2 basis points in New York. What to watch today: The Australian market is set to open flat this morning, as uncertainty continues across global markets. While investors are waiting on US CPI out later tonight, the Reserve Bank of New Zealand is also expected to list its key rate later today.  Mining company, South32 (ASX:S32) has announced the sale of four non-core base metals royalties to a company called Anglo Pacific Group. These are royalties from third party interest in copper and nickel projects. In commodities, Oil has heavily dropped, trading over 8% lower around US$95 per barrel and nearing three-month lows. There is little confidence in oil markets currently, amid a continuously poorer demand outlook. There have also been renewed COVID-19 restrictions in China, which of course is a top importer, and this news has also added to expectations of lower demand for energy as central banks look to accelerate monetary tightening. The gold price is hovering near its lowest level in nine months, while iron ore has been dragged down to its lowest levels since January. So, watch the share prices of miners and energy producers today, as they’re likely to start the session lower.  Link Administration (ASX:LNK) holds its AGM today. Trading Ideas:Bell Potter maintain their Buy rating on Envirosuite (ASX:EVS), which is a global provider of environmental management software. They have lowered their price target from $0.25 to $0.23, and at its current share price of $0.16, this implies 43.8% share price growth in a year. Trading Central have identified a bearish signal in Harvey Norman (ASX:HVN), indicating that the stock price may fall from the close of $3.85 to the range of $3.36 to $3.46, over 17 days according to the standard principles of technical analysis. 

Our local market started the new trading week with a loss of 1.1%, with the majority of the industry sectors in the red. The materials and tech sector felt the most pressure, as investors braced for a US inflation reading, as well as domestic jobs update later this week. Looking at the ASX200 leaderboard, EML Payments (ASX:EML) fell a massive 25% after its chief executive Tom Cregan exiting the fintech group with no explanation. NOVONIX (ASX:NVX), Costa Group Holdings (ASX:CGC) and Domino’s Pizza (ASX:DMP), were all hit with bearish broker notes, while lithium company Lake Resources (ASX:LKE) plunged 6.3%, following revelations that the stock is now being heavily shorted off the back of its CEO’s resignation last month and pessimistic projections for lithium demand. On the flip side, the best performers yesterday included New Hope Corporation (ASX:NHC), Imugene (ASX:IMU) and Suncorp Group (ASX:SUN).The most traded stocks by Bell Direct clients yesterday, there were multiple financial stocks like three of the big four banks, as well as Bank of Queensland (ASX:BOQ), and mining stocks like BHP Group (ASX:BHP) and Allkem (ASX:AKE).In the US, equities fell on Monday as investors prepare for big company earnings reports and US economic data, including consumer prices, retail sales and factory output due out later in the week, which will give an indication of the extent to which inflation has peaked, as well as how inflation is impacting businesses. The Dow Jones shed 165 points, the S&P500 fell 1%, while the Nasdaq broke its five-day winning streak, down 2.3%What to watch today:Despite Wall Street losing some ground overnight, the SPI futures are suggesting our market is set to open 0.28% higher.Economic news wise, we’ll get an update on business confidence for June, which slowed to 6 points in May, down from 10 previously. If the confidence indicators underperform today, we could see the Aussie dollar respond with losses.Moving to commodities, oil prices pulled back overnight, following concerns about rising COVID cases in China. The gold price also came under pressure, off the back of a stronger US dollar. And the spot iron ore price trades at US115 a tonne.Stocks going ex-dividend today include Metcash (ASX:MTS) and Sunland Group (ASX:SDG), which will likely cause these stocks to trade lower today as investors take their profits.Trading Ideas:Bell Potter have transferred analyst coverage on EROAD (ASX:ERD). The rating on the stock has been maintained as a Buy however with a reduced price target, from $3.40 to $2.75. Bell Potter remain positive on the company and its outlook. At its current share price of $2.00, this implies 37.5% 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 the close of $8.26 to the range of $7.60 - $7.75 in the next 16 days according to standard principals of technical analysis.  

Our local market rebounded last week, gaining 2% week-to-date. Most sectors gained WTD, apart from industrials and materials. And taking a quick look at Friday’s session, a rebound in commodities boosted Australian shares and the market closed 0.5% higher, with energy and materials in the lead. Australian shares were largely unaffected by the declines in share markets across Asia on Friday afternoon, following reports that the former Japanese Prime Minister was shot during an election speech. Instead, energy producers and gold miners gained, as well as the tech sector which followed a strong lead by the Nasdaq. The ASX200 was once again led by family app Life360 (ASX:360). The most traded stocks by Bell Direct clients on Friday were Worley (ASX:WOR), BHP Group (ASX:BHP), Wesfarmers (ASX:WES) and Mineral Resources (ASX:MIN). European stocks closed with solid gains, ending the week in positive territory. The STOXX 600 closed the day 0.5% higher, with most sectors in the green. Investor focus was on the US employment report for June, which displayed a stronger than expected month of hiring. It was a key piece of data, as the Federal Reserve is closely watching the labour market and inflation figures as it continues to plan its course for monetary policy. US equities closed mixed. The Dow Jones closed slightly lower, down 0.2%, while the S&P500 closed flat. Meanwhile, the tech-heavy Nasdaq slightly rose 0.1%, its fifth straight day of gains. What to watch today:The Australian market is set to open higher, with the SPI futures suggesting a 0.3% rise at the open this morning. Keep watch of Woolworths (ASX:WOW) after Goldman Sachs this morning added the stock to its conviction list, which is a list of stocks they expect to outperform. The broker also reiterated its Buy rating with a price target of $40.50. In commodities, oil prices are trading lower, while gold and iron ore are in the green.  Trading Ideas:Bell Potter maintain a Speculative Buy rating on Chalice Mining (ASX:CHN) with a valuation of $11.10. At its current share price of $4.01, this implies 177% share price growth in a year. Meanwhile, Macquarie have an Outperform rating on the gold miner and have retained their $7.30 price target. Trading Central have identified a bullish signal in Allkem (ASX:AKE) indicating that the stock price may rise from the close of $10.46 to the range of $12.70 to $13.20 over 25 days according to the standard principles of technical analysis. 

The Aussie share market has advanced 1.7% so far this new financial year (Mon-Thu), accelerating after the cash rate was raised to 1.35%.  In this week’s wrap, Sophia covers: (0:59) Why commodity prices have tumbled(1:47) Attractive tech stocks in the current market environment(2:22) Bell Potter's FY23 stock picks across five sectors(4:39) The most traded stocks & ETFs by Bell Direct clients(5:19) Three economic news items to watch out for 

Yesterday our local market closed in the red for the first time this week, declining 0.5%, off the back of renewed worries about a global recession. This led to a sharp fall in the Aussie dollar, commodity prices and global markets.Mining and energy stocks suffered heavy losses, with both sectors sinking more than 5%, offsetting the gains seen across most other sectors, like real estate and tech.Looking at the ASX200 leaderboard, many of the winners were tech stocks, following the strong lead from the US Nasdaq. Stocks like Megaport (ASX:MP1), Life360 (ASX:360), Zip (ASX:ZIP) and EML Payments (ASX:EML), were all up more than 10%. On the flip side, the ten biggest decliners were all from the materials sector, led by gold miner St Barbara (ASX:SBM), which was down 9.5%, along with stocks like Rio Tinto (ASX:RIO) and Woodside Energy (ASX:WDS).The most traded stocks by Bell Direct clients yesterday were BHP Group (ASX:BHP), the BetaShares Geared Australian Equity Hedge Fund (ASX:GEAR) and Woodside Energy (ASX:WDS). In the US, stocks pushed slightly higher following the latest minutes from the US Federal Reserve, which reiterated the central bank’s commitment to bringing down inflation. Energy stocks were some of the worst performers on the day, as oil prices continued their recent slide. What to watch today:Following the positive session in the US, our local market is set to open 0.5% higher if you go by the SPI futures.Economic news wise, balance of trade data for May will be released at 11:30am AEST. That’s the difference between what we export vs. what we import, and consensus expects May’s reading to come in higher at $10.725b.Keep watch of payments company, Block (ASX:SQ2) after its US listed shares dropped into the red overnight.In commodities, oil prices have continued to slide, falling below US$100 a barrel. Gold is trading lower, down 1.5% to US$1,739 an ounce. And the spot iron ore price trades at US114 a tonne.Trading Ideas:Citi have retained its Buy rating on Lovisa Holdings (ASX:LOV), with a price target of $20.40. At its current share price of $15.46, this implies 32% share price growth in a year.Trading Central has a bearish signal on engineering services company, Worley (ASX:WOR) indicating that the stock price may fall from the close of $13.62 to the range of $11.10 - $11.60 in the next 19 days according to standard principals of technical analysis.

Yesterday the RBA’s rate hike was in line with expectations, which saw the share market slightly accelerate. The cash rate was raised by 0.5% or 50 basis points to 1.35%. It was the third consecutive increase, with the central bank taking an aggressive approach to taming inflation. Remember, higher interest rates make it more expensive to borrow money, and this takes some of the pressure off rising prices by discouraging spending. And while there are a few global factors contributing, there are also domestic factors contributing to inflation, such as the recent floods, the increasing number of job vacancies and strong spending.The local market still managed to close in the green yesterday. The tech sector performed well, and this is an industry usually quite sensitive to interest rates. Real estate was the worst performing sector, which has been the case the last few rate hikes.As for the major banks, Commonwealth Bank (ASX:CBA), National Australia Bank (ASX:NAB) and Australia & New Zealand Banking Group (ASX:ANZ) all closed slightly lower, while Westpac (ASX:WBC) closed flat. And energy outperformed as oil prices increased, before falling overnight.Family app Life360 (ASX:360) advanced along with the broader tech sector yesterday. Bell Potter continue to maintain their Buy rating on the stock and have a $7.50 price target. 360’s current share price is $3.24. And gold miners also advanced yesterday. Regis Resources (ASX:RRL) gained after reporting record gold production in the June quarter, and other gold stocks followed its advance, including St Barbara (ASX:SBM) and De Grey Mining (ASX:DEG). The most traded stocks by Bell Direct clients yesterday were BHP Group (ASX:BHP), CSL Limited (ASX:CSL) and the Vanguard Australian Shares ETF (ASX:VAS).Overseas, Europeans shares were in the red in the lead up to the European Central Bank’s meeting on Thursday. The STOXX 600 closed 2% lower, with oil and gas stocks falling more than 6%. And the Euro also dropped to its lowest level in two decades on Tuesday. US equities were mixed. The Dow Jones closed slightly lower down 0.4%, the S&P500 gained 0.2%, while the Nasdaq rallied 1.8% higher.What to watch today:The SPI futures are suggesting the Australian market will drop 0.98% at the open this morning.In commodities:Oil is trading more than 7% lower, as concerns of a US recession continue. Norwegian offshore workers were striking on Tuesday, and this is expected to cut around 130,000 barrels or 6.5% of the country’s daily oil production. Elsewhere, OPEC is also struggling with capacity limits.Gold is trading lower, with expectations of more aggressive monetary tightening by the Federal Reserve than previously expected.Iron ore prices are in the red with a weak demand outlook as steel mills cut production.Copper has also sunk 5%, so watch BHP Group (ASX:BHP) and Rio Tinto (ASX:RIO).Graincorp (ASX:GNC) is set to go ex-dividend today, so the stock is likely to be trading lower as investors take their profits.Trading Ideas:Bell Potter maintain a Speculative Buy rating on EBR Systems (ASX:EBR) and have lowered their price target from $1.28 to $0.90. At its current share price of $0.49, this implies 81.8% share price growth in a year.Trading Central have identified a bullish signal in Life360 (ASX:360) indicating that the stock price may rise from the close of $3.24 to the range of $3.75 to $3.95 over 25 days, according to the standard principles of technical analysis.

Yesterday, our local market started the new trading week with an impressive gain of 1.1%, with all eleven industry sectors closing in the green. The energy sector posted the largest gains, up 2.6%, closed followed by the real estate sector and consumer discretionary sectors, which were both up around 2% each. Looking at the ASX200 leaderboard, one of the best performers was Imugene (ASX:IMU), which lifted nearly 13% yesterday. Also performing well was coal producer New Hope Corporation (ASX:NHC) and real estate investment trust, Ingenia Communities (ASX:INA). Meanwhile, Magellan Financial Group (ASX:MFG) came under pressure, sinking 10% after its co-founder and former Chief Investment Officer, Hamish Douglass had been offloading a significant quantity of his shares in MMG. The most traded stocks by Bell Direct clients yesterday were the BetaShares Geared Australian Equity Hedge Fund (ASX:GEAR), BHP Group (ASX:BHP) and the Vanguard Australian Shares ETF (ASX:VAS). Wall Street was closed for the Independence Day holiday but in Europe the DAX fell 0.3% and the FTSE rose 0.9%, and US futures are pointing to declines tonight.What to watch today:The Australian share market is set to open flat, going by the SPI futures.Economic news wise, for the third month in a row, the RBA is all but certain to lift interest rates, with the majority of economists believing a 50 basis point increase is locked in, which would take the official cash rate to 1.35%. Stay tuned for this announcement at 2:30pm AEST. Moving to commodities, the WTI crude oil price is trading 2% higher at US$110 a barrel, as supply concerns boosted prices despite fears that a recession is looming. Gold is trading flat at US$1,809 an ounce. And the spot iron ore price trades 3.7% lower at US118 a tonne.If you hold National Australia Bank (ASX:NAB), Incitec Pivot (ASX:IPL) or CIMIC Group (ASX:CIM), you will receive your dividend payment today.Ardent Leisure Group (ASX:ALG), and Clime Capital (ASX:CAM) are set to go ex-dividend today. Trading Ideas:Citi have maintained its Buy rating on Australia's global shipbuilder, Austal (ASX:ASB) with an increased price target from $2.35 to $2.91. At its current share price of $2.38, this implies 22%. share price growth in a yearTrading Central has a bullish signal on Immutep (ASX:IMM) indicating that the stock price may rise from the close of $0.32 to the range of $0.44 - $0.46 in the next 21 days according to standard principals of technical analysis.  

Week-to-date the ASX200 is down 0.6% with real estate taking the biggest hit, while utilities remain strong. However, on Friday real estate was the best performing sector, rising 1.5%, while materials and energy suffered from a downturn in commodity prices. BNPL company Zip (ASX:ZIP) had good start to the new financial year, rebounding 9%, after the company was the worst performing stock in June, dropping 50% of its value during the month. Meanwhile the decline in commodities saw the major mining stocks and energy producers drop in price. Liontown Resources (ASX:LTR) was down the most, and Woodside Energy (ASX:WDS) and Mineral Resources (ASX:MIN) followed. Fortescue Metals (ASX:FMG), Newcrest Mining (ASX:NCM) and BHP Group (ASX:BHP) also dropped about 3%, while the other miners saw heavier losses. The most traded stocks by Bell Direct clients on Friday were Sims (ASX:SGM), Beach Energy (ASX:BPT) and Wesfarmers (ASX:WES). US equities rallied, the Dow Jones gained more than 300 points or 1%, the S&P500 also gained 1% and the tech-heavy Nasdaq closed 0.9% higher. What to watch today:The SPI futures are suggesting our local market will jump 1.5% at the open this morning. The RBA is widely expected to raise rates by 0.5% tomorrow, so investors may be cautious while awaiting tomorrow’s announcement. In commodities, oil and gold are both trading flat, while iron ore has dropped 4%. So watch BHP and FMG today after the pullback in the iron ore price. Watch payment company Block (ASX:SQ2). The New York listed Block share price rebounded from recent selling, so its ASX-listed shares are expected to follow. And the positive trading session for the Nasdaq may see a positive day for the ASX tech sector as well. In economic data, ANZ’s data on job advertisements for June will be released, and home loan data for May will be released, both at 11:30am AEST. Trading Ideas:Bell Potter have upgraded their rating on Capricorn Metals (ASX:CMM) from a Hold to a Buy and have lowered their price target from $3.90 to $3.70. Bell Potter nominate it as the preferred gold exposure in an environment of rising costs and a rangebound gold price. Trading Central have identified a bullish signal in Qube Holdings (ASX:QUB), indicating that the stock price may rise from the close of $2.83 to the range of $3.10 to $3.16 over 17 days, according to the standard principles of technical analysis. 

The closing bell has rung for the 2022 financial year, and the Aussie share market finished with a loss of 10.2%, the third negative return this past decade. This was in comparison to the impressive 24% return the market delivered during the 2021 financial year.In this week’s wrap, Sophia covers:(0:55) The 2022 financial year wrap: winners & losers(2:16) Why Evolution Mining (ASX:EVN) dropped 30% this week(2:38) Collins Foods (ASX:CKF) lifts after robust sales growth (2:46) The most traded stocks & ETFs by Bell Direct clients(3:26) What to expect from the RBA's upcoming July meeting

Our local market closed lower yesterday, down 0.9%, snapping its four-day winning streak, with the benchmark ASX200 index on track to finish its worst month since March 2020.Eight of the eleven industry sectors were in the red, with the real estate sector coming under the most pressure, as many property stocks went ex-dividend yesterday. Meanwhile, financials, consumer staples and the energy sector managed to post small gains.One of the best performers was Star Entertainment Group (ASX:SGR) after the company appointed Robbie Cooke as its new CEO and Managing Director. This comes after Tyro Payments (ASX:TYR) announced that Mr Cooke would be stepping down from his role as CEO and Managing Director at Tyro, after nearly five years of leadership. Star Entertainment Group lifted 3.3%, while Tyro fell 17%. And one of the worst performers was Carsales.com (ASX:CAR), which fell about 10%, after returning from its trading halt. The business has successfully raised $842m from its institutional entitlement offer to help fund its acquisition of US-based online vehicle marketplace called Trader Interactive.The most traded stocks by Bell Direct clients yesterday were Fortescue Metals (ASX:FMG), ANZ (ASX:ANZ) and Charter Hall Long WALE REIT (ASX:CLW).In the US, stocks struggled for direction, after heavy falls in the previous session as investors weighed up fresh signs of a looming economic slowdown. So the market closed mixed. The S&P500 and Nasdaq closed slightly lower, while the Dow Jones finished the day up 0.3%.What to watch today:Following the mixed session in the US, our local market is set to open flat if you go by the SPI futures.Moving to commodities, oil prices dipped, snapping its three-day winning streak with tight supply worries not enough to outweigh concerns about a weaker global economy. The WTI Crude oil price currently trades at US$109 a barrel. The gold price fell slightly, trading at US$1,818 an ounce, and the spot iron ore price is trading up 2.5% at US124 a tonne.Australian industrial company, CSR (ASX:CSR) is holding its AGM today.If you hold KMD Brands (ASX:KMD), Kelly Partners Group (ASX:KPG) or Plato Income Maximiser (ASX:PL8), you will receive your dividend payment today.There are a number of ETFs going ex-dividend today, including ETF Securities’ FANG ETF, i.e. Facebook, Amazon, Netflix, Google, as well as ETF Securities’ ACDC ETF, which offers investors exposure to the EV megatrend.Trading Ideas:Bell Potter has maintained its Speculative Buy rating on Liontown Resources (ASX:LTR) with a $2.87 price target. LTR has announced a Final Investment Decision (FID) for its flagship hard-rock lithium project in Western Australia, which Bell Potter believes highlights the LTR team’s strong capability in advancing Kathleen Valley in a market experiencing volatility. The company is also in a strong strategic position in a market for lithium facing supply shortages. At its current share price of $1.12, this implies 156% share price growth in a year.Trading Central has a bearish signal on Nine Entertainment (ASX:NEC) indicating that the stock price may fall from the close of $1.90 to the range of $1.56 - $1.62 in the next 8 days according to standard principals of technical analysis. 

The benchmark ASX200 index posted its fourth consecutive day of gains, up 0.9% at the close. The strongest sectors were energy, utilities and materials, gaining over 3%, while the consumer discretionary sector declined.Mining stocks advanced as oil futures rallied higher on reports that the G7 Nations are wanting to lift output, however Saudi Arabia is reluctant. Energy producers including Woodside Energy (ASX:WDS) and Beach Energy (ASX:BPT) were among the best performers, as well as the iron ore majors BHP Group (ASX:BHP), Rio Tinto (ASX:RIO) and Fortescue Metals (ASX:FMG). And gold miners were also in the green, recovering from the heavy falls we saw in gold stocks the previous session.Leading the ASX200 was Collins Foods (ASX:CKF). The KFC merchant released its full year results which saw strong gains in NPAT and sales. CKF closed 11.5% higher.The most traded stocks by Bell Direct clients yesterday were Link Administration (ASX:LNK), Amcor (ASX:AMC), Commonwealth Bank (ASX:CBA) and Woodside Energy (ASX:WDS).Overseas, European stocks closed slightly higher, although investor sentiment continues to struggle. Also, consumer confidence in Germany is projected to slide to a new record low in July. In New York, US equities declined with all three major benchmarks closing in the red. The benchmarks were rising earlier in the session, however turned direction after a disappointing consumer confidence index reading that came in below estimates. The Dow Jones closed down 1.6%, the S&P500 down 2%, while the Nasdaq dropped 3%.What to watch today:The local market is set to drop 1.26% at the open this morning, according to the Bloomberg SPI futures. This follows the decline in equities in the US overnight.ASX tech stocks took a hit yesterday, and are looking to decline further today, following the Nasdaq’s lead. The Nasdaq moved toward its lowest three-month period since 2008.In commodities, oil has rebounded, now trading around US$111 per barrel. Gold is trading lower, while iron ore has rallied on solid demand prospects, amid easing COVID restrictions in China’s major cities.Watch Carsales.com (ASX:CAR) as its due to return from a trading halt this morning. The company has raised $1.2 billion at a 14.5% discount to its share price.Watch Megaport (ASX:MP1) amid speculation that the company is a potential takeover target.There are over 30 stocks going ex-dividend. Remember this often sees shares fall as investors take their profits.Trading IdeasBell Potter maintain a Speculative Buy rating on 4D Medical (ASX:4DX), a software company commercialising its patented imaging platform. They’ve just signed a 3-year contract with I-MED Radiology Network which is the largest medical imaging provider in Australia. And the contact is for the provision of XV Technology which involves imaging systems for lung functions. Bell Potter raised their price target from $0.63 to $0.65, and at its current share price of $0.46, this implies 41.3% share price growth in a year.Trading Central have identified a bullish signal in CSL Limited (ASX:CSL), indicating that the stock price may rise from the close of $274.03 to the range of $292 to $295 over 18 days, according to the standard principles of technical analysis.

Our local market closed started the new trading week and final week of the financial year with a solid gain of 1.9%, supported by a strong rebound in bank stocks. All eleven industry sectors posted gains, with the financials, energy, tech, and consumer discretionary sectors all gaining more than 2%. Imugene (ASX:IMU) jumped a massive 46% after the company reported positive survival rates amongst advanced gastric cancer patients treated with HER-Vaxx. Also performing well were lithium stocks like Core Lithium (ASX:CXO), Liontown Resources (ASX:LTR), Lake Resources (ASX:LKE) and Allkem (ASX:AKE). While the worst performers yesterday included Evolution Mining (ASX:EVN), Northern Star Resources (ASX:NST) and Ramelius Resources (ASX:RMS).The most traded stocks by Bell Direct clients yesterday were Sims (ASX:SGM), Woolworths (ASX:WOW) and CSL (ASX:CSL). In the US, all three benchmarks started the new trading week in the red, with tech and consumer names coming under pressure, while the energy sector managed to gain 2.8%.   What to watch today:Following the negative session in the US, our local market is set to open slightly lower this morning if you go by the SPI futures.KFC owner, Collins Foods (ASX:CKF) is set to release its full year results for 2022 today. No guidance has been given, but the market will be looking for further growth after its positive first-half report.  In commodities, oil prices traded higher on the prospect of even tighter supplies, as the Group of Seven nations examine a new package of actions aimed at increasing pressure on Russia over its war in Ukraine. The gold price fell on a weaker dollar as recession fears continue. The nickel price took a hit, dropping 6.8% and the spot iron price is trading lower at US$116 a tonne.  If you hold Champion Iron (ASX:CIA) or GQG Partners (ASX:GQG), you will receive your dividend payment today.Bindi Metals will be debuting on the ASX today. It will be trading under the ticker code BIM.Trading Ideas:Citi have upgraded its rating on Iluka Resources (ASX:ILU) from a Sell to a Buy and have maintained its price target at $10.25. The upgrade is due to its share price correction and Citi’s view that China’s property starts are now near their low. At its current share price of $9.25, this implies 13.5% share price growth in a year.Trading Central has a bullish signal on Aristocrat Leisure (ASX:ALL) indicating that the stock price may rise from the close of $34.80 to the range of $39.75 - $40.75 in the next 43 days according to standard principals of technical analysis.  

Week-to-date the ASX200 rebounded 1.6% and gained 0.8% on Friday. Lithium shares such as Allkem (ASX:AKE), Liontown Resources (ASX:LTR) and Pilbara Minerals (ASX:PLS) all gained, as well as Vulcan Energy (ASX:VUL) after announcing its brought on board Stellantis, the European automotive manufacturing giant, as its second largest shareholder. And tech stocks made strong gains on Friday. It was the best performing sector, up 6%, with family app Life360 (ASX:360) and BNPL company Zip (ASX:ZIP) leading the ASX200, up 22% and 25% respectively. The tech rally followed the jump in US tech shares the previous session. The most traded stock by Bell Direct clients was Lake Resources (ASX:LKE), which rebounded 15% on Friday, after falling 55% Monday to Thursday, following the departure of the company’s CEO. Lake Resources was the worst performing stock of the week, down 49% Monday to Friday. Also highly traded on Friday was Chalice Mining (ASX:CHN), Westpac (ASX:WBC), Amcor (ASX:AMC) and BHP Group (ASX:BHP). European stocks had their best session in over three months and US equities also made a strong comeback. All three major US benchmarks rallied. The Dow Jones added more than 800 points, up 2.7%, the S&P500 closed 3% higher at the close, and the tech-heavy Nasdaq also rallied 3% higher.What to watch today:The Australian share market is looking optimistic following the positive session in New York. The SPI futures are suggesting a lift of 1.6% at the open this morning. In commodities, oil has dropped further, now trading around US$106 a barrel with expectations of a slowdown in demand and the production shutdown in Libya, making it more difficult for OPEC to meet the production targets. Meanwhile the price of gold is higher, while iron ore is in the red. Metcash (ASX:MTS) is set to report its earnings today.Trading Ideas: Bell Potter maintain their Buy rating on Nufarm (ASX:NUF) and have lowered their price target from $7.85 to $6.65. There has been a material rerating in global crop protection and domestic peer trading multiples in recent weeks, and Nufarm hasn’t been immune to the sell off, however Bell Potter continue to see the stock as better placed to navigate a normalisation in Australian crop conditions than its peers. At its current share price of $4.99, the price target implies 33% share price growth in a year.Trading Central have identified a bullish signal in Woolworths Group (ASX:WOW), indicating that the stock price may rise from the close of $35.46 to the range of $37.60 to $38.10 over 23 days according to the standard principles of technical analysis. 

The Aussie share market managed to gain 0.8% this week (Mon-Thu), regaining some of the heavy losses experienced last week. This comes despite US recession concerns continuing to weigh down on global markets.   In this week’s wrap, Sophia covers:(2:30) A stock to consider given the current energy crisis(3:21) PointsBet (ASX:PBH) gains after landing $94m investment(3:54) Why Lake Resources (ASX:LKE) fell a hefty 55%(5:02) The most traded stocks & ETFs by Bell Direct clients(5:18) Three economic news items to watch out for

Our local market closed slightly lower yesterday, down 0.2% or 15 points to 6,508, despite the rebound we saw over on Wall Street. The market was mixed. The utilities sector pushed 2.1% higher, supported by gains in APA Group (ASX:APA). Energy stocks also rallied, like Woodside Energy (ASX:WDS), Beach Energy (ASX:BPT) and Santos (ASX:STO). Meanwhile tech and consumer discretionary stocks led the losses came under pressure. The best performing stock was Coronado Global Resources (ASX:CRN), which managed to add 7.5% - despite its slump on Tuesday, after the Queensland government announced that there would be increased royalties on coal sales. Also performing well was Ampol (ASX:ALD) following Morgan Stanley retaining its overweight rating and lifting its price target to $39. On the flip side, the worst performers included St Barbara (ASX:SBM), Core Lithium (ASX:CXO) and Lake Resources (ASX:LKE), all down over 13%. Also, Crown Resorts (ASX:CWN) announced news that it had received regulatory approval to start its gaming operations at the Crown Sydney casino, but as the stock is no longer listed on the Aussie market as of last week, following its approval to be taking over by US firm Blackstone, the market couldn’t react.The most traded stocks by Bell Direct clients yesterday was Stanmore Resources (ASX:SMR), Lake Resources (ASX:LKE), Amcor (ASX:AMC) and Seven West Media (ASX:SWM).In the US, all three benchmarks closed slightly lower, in a choppy session as markets struggled to sustain a rebound from earlier in the day. What to watch today:If you go by the SPI futures, our local market is set to open 0.36% higher. Economic news wise, S&P Global Manufacturing and Services Flash PMI for June will be released. This is a forward-looking estimate of the Purchasing Manager’s Index, exemplifying economic trends in the manufacturing and services sectors.In commodities:Oil prices came under pressure as investors worry that rate hikes by the US Fed could push the US economy into a recession, therefore dampening demand for fuel. The gold price pushed higher given these renewed fears of a recession – therefore boosting the safe-haven’s appeal. The spot iron ore price is currently trading at US$117 a tonne, that’s down 20% from its previous highs in early June. So keep watch of iron ore miners like BHP Group (ASX:BHP) and Fortescue Metals (ASX:FMG). Leo Lithium will be debuting on the ASX today. It will be trading under the ticker code LLL.Trading Ideas:Citi have maintained its Buy rating on BHP Group (ASX:BHP) with a price target of $50. At BHP’s current share price of $41.03, this implies 22% share price growth in a year. Trading Central has a bearish signal on Aurizon Holdings (ASX:AZJ) indicating that the stock price may fall from the close of $3.75 to the range of $3.33 - $3.41 in the next 28 days according to standard principals of technical analysis.  

After what was a seven-day losing streak, Australian shares closed 1.4% in the green yesterday, with a rally in mining and energy stocks. Energy and financials were the best performing industry sectors. The 4 major banks all gained over 2%. The top performing stocks were PointsBet Holdings (ASX:PBH) and Paladin Energy (ASX:PDN), while the worst performer was Lake Resources (ASX:LKE). The lithium developer was added to the ASX200 on Monday and was performing very well, up 185% the past year. Yesterday however, LKE crashed 28%, after the surprising announcement that the company’s CEO and Managing Director, has left the company and the former CEO made no comments. Bell Direct clients were selling LKE yesterday. Lake Resources was the most traded stock. Clients were also trading ANZ, Core Lithium (ASX:CXO) and Whitehaven Coal (ASX:WHC). US equities made a comeback overnight, with all three major benchmarks closing with gains. This follows the US markets worst weekly loss in 2 years, as investors assessed aggressive policy tightening by the Federal Reserve and rising chances of a recession. The Dow Jones gained more than 600 points or 2.15%, and the S&P500 and the Nasdaq each gained 2.5%. What to watch today:Following New York, the Australian market is set to open higher today. The SPI futures are suggesting the local market will rise 0.75% at the open this morning. In commodities, the price of oil is trading flat. Persistent concerns about tight oil supply continue to outweigh fears of an economic slowdown. The gold price is under pressure amid elevated Treasury yields and a strong US dollar. And iron ore tumbled to around US$115 a tonne, its lowest level since last December. This fall comes due to persistent COVID outbreaks in China, as well as global rate hikes, raise concerns about demand. Fisher & Paykel Healthcare (ASX:FPH) is set to go ex-dividend. Odette Six Metals (ASX:OD6) will list on the ASX today. Trading Ideas:Bell Potter maintain a Speculative Buy rating on PointsBet Holdings (ASX:PBH). The corporate bookmaker yesterday announced the placement of 38.75 million shares at an issue price of $2.43 per share to SIG Sports Investments, who will become the largest shareholder in the company, and the placement will raise $94.2 million for PointsBet. The company also announced they’ve entered an agreement with a company called Nellie Analytics, to provide sports analytics and quantitative modelling services. Bell Potter have lowered their valuation from $6 to $5.25. At PBH’s current share price of $2.78, this implies 88.8% share price growth in a year. Trading Central have identified a bullish signal in Nearmap (ASX:NEA). Indicating that the stock price may rise from the close of $1.03, to the range of $1.26 to $1.32 over 15 days, according to the standard principles of technical analysis. 

Our local market started the new trading week in the red, extending its losses from last week, to close down 41 points, or 0.6% to 6,433. That marks seven straight days of losses for our market. The biggest laggard on the market was the energy sector, which declined 5.2%, after oil prices dropped on Friday on worries that interest rate hikes by major central banks could cut energy demand. While the major banks closed in positive territory, outperforming the broader share market.The best performing stock was Pointsbet (ASX:PBH) after the betting company secured a $94 million investment from SIG Sports. That makes the US investment firm PBH’s largest shareholder. Also performing well was Pinnacle Investment Management (ASX:PNI) and bio-tech company, Imugene (ASX:IMU), both up more than 7%. Meanwhile, the worst performing stocks included lithium producers like Lake Resources (ASX:LKE), uranium miner, Paladin Energy (ASX:PDN) and coal miners like New Hope Corporation (ASX:NHC) and Whitehaven Coal (ASX:WHC).The most traded stocks by Bell Direct clients yesterday included Lake Resources (ASX:LKE), BHP Group (ASX:BHP) and Fortescue Metals (ASX:FMG). The US market was closed for the Juneteenth Federal holiday, so let’s look across the sea at how European markets performed. The FTSE index lifted 1.5% as financials and energy rebounded. The German Dax closed 1.1% higher and the French CAC jumped 0.6%. What to watch today:If you go by the SPI futures, our local market is set for a positive day. The futures are up 0.7% or 45 points. Economic news wise, at 8am AEST, the RBA will be releasing to the media their review of the yield target. Following this, at 10am, Governor Phillip Lowe, will speak about inflation and monetary policy at an event in Sydney and finally, the RBA will also release the minutes from its June meeting at 11:30am. These are all important, as they may give us a sense on how aggressive the RBA will be on raising rates as well as what could happen in the next few monthsIn commodities:Oil prices edged lower on Monday, amid concerns about slowing global economic growth. Gold extended its losses as a rise in the US dollar weighed on bullion demand, with the US market holiday expected to lead to thin trading during the day. The spot iron ore price is trading down at US$125 a tonne. Peter Alexander owner, Premier Investments (ASX:PMV) and chartered accounting company Kelly Partners Group (ASX:KPG) are set to go ex-dividend today. If you hold Virgin Money UK (ASX:VUK), Coronado Global Resources (ASX:CRN) or Oceania Healthcare (ASX:OCA), you will receive your dividend payment today. Trading Ideas:Bell Potter have maintained its Buy rating on software company, Altium (ASX:ALU), however with a reduced price target, from $41.25 to $34. At its current share price of $25.49, this implies about 33% share price growth in a year.Trading Central has a bearish signal on Origin Energy (ASX:ORG) indicating that the stock price may fall from the close of $5.45 to the range of $3.60 - $4 in the next 98 days according to standard principals of technical analysis.  

It was the worst week for the Australian market since the beginning of the pandemic in 2020. Week-to-date the ASX200 is down 6.6%, led by losses on Wall Street on concerns around aggressive policy tightening.On Friday, the ASX200 closed 1.8% lower, with materials, tech, financials and energy down the most.Taking a closer look at the leaderboard, the worst performing stock was G.U.D Holdings (ASX:GUD). The company is a designer, manufacturer and distributor of automatic products and its share price crashed 20% on Friday, following a guidance update, where the company downgraded its guidance due to supply chain disruptions. And some big tech names were finally in the green, including EML Payments (ASX:EML) and Zip Co (ASX:ZIP), regaining some of those prior losses.The most traded stocks by Bell Direct clients on Friday were CSL (ASX:CSL), Macquarie Group (ASX:MQG), Lake Resources (ASX:LKE), Westpac (ASX:WBC) and BHP Group (ASX:BHP).On Wall Street, the major benchmarks closed mixed. The Dow Jones slipped 38 points or 0.13%. The S&P500 rose slightly higher, up 0.2%, however still had its worst week since 2020, down 5.8% for the week, with all 11 sectors finishing more than 15% below their recent highs. Meanwhile, the tech-heavy Nasdaq gained 1.4%.What to watch today: The Australian market is set to drop 0.3% at the open this morning, going by the SPI futures.What may add to the decline in global markets is the collapse of cryptocurrencies. Bitcoin tumbled 15% over the weekend, its lowest level in 18 months.In commodities, the price of oil has crashed 6.8%, pressured by the recent wave of aggressive rate hikes. Gold is also trading lower amid a rebound in the US dollar and Treasury yields. And iron ore has dropped to an over three-week low as COVID-19 outbreaks in China provoked fears of lockdowns. China is the world’s top steel producer.Premier Investments Limited (ASX:PMV) is set to go ex-dividend.Trading Ideas:Bell Potter have a Speculative Buy rating on Lumos Diagnostics (ASX:LDX) and have reduced their valuation to $0.28 from $0.75. At its current share price of $0.14, this implies 95.5% share price growth in a year.Trading Central have identified a bullish signal in Capricorn Metals (ASX:CMM), indicating that the stock price may rise from the close of $3.80 to the range of $5 to $5.30 over 43 days, according to the standard principles of technical analysis.

The Aussie share market took a dive this week, falling 4.9% (Mon-Thu). This followed the latest inflation reading out in the US, which saw the US Federal Reserve respond by lifting interest rates by 0.75%. In this week’s wrap, Sophia covers:(1:55) Bell Potter's top picks in the uranium sector(2:20) The US Federal Reserve's rate hike(3:40) The tech and major mining stocks that suffered heavy losses(4:14) Lake Resources' (ASX:LKE) impressive yearly gain(4:36) The most traded stocks & ETFs by Bell Direct clients(5:15) Two economic news items to watch out for

Yesterday our local market extended its losses, falling 1.3% or 85 points to close at 6,601. This comes as investors digested rising interest rate forecasts and an increase to the minimum wage. We also got an update on consumer confidence for June, which fell 4.5% month-over-month, back to levels seen at the beginning of the pandemic. Now confidence was weighed down by surging prices and expectations of further interest rate hikes.Losses were seen across the board, with all 11 industry sectors in the red. The tech sector was down the most, as it’s quite sensitive to interest rates, due to their high price to earnings ratios and low dividend payments.The best performer yesterday was medical device company PolyNovo (ASX:PNV) despite no announcements out from the company. However, insider buying action amongst its senior managers has likely propped up its share price and overall sentiment. Other top performers included Lynas Rare Earths (ASX:LYC), Suncorp (ASX:SUN) and Computershare (ASX:CPU). Meanwhile, the worst performers included tech companies like NOVONIX (ASX:NVX), Megaport (ASX:MP1) and Block (ASX:SQ2). And the most traded stocks by Bell Direct clients were ANZ (ASX:ANZ), Insignia Financial (ASX:IFL) and Lake Resources (ASX:LKE).In the US, as was widely expected, the US Federal Reserve lifted rates by 75 basis points, the biggest increase made in almost 30 years. Stocks rallied, as Federal Reserve Chairman Jerome Powell noted that a 50 or 75 basis point increase “seems most likely” at its next meeting in July, highlighting the central bank’s commitment to fighting inflation. So, we saw all three benchmarks push higher, with the Nasdaq up the most, rising 2.5%.What to watch today:Following the US market’s positive session, our local market is set for a positive day, with the SPI futures suggesting a lift of 0.4% at the open.Economic news wise, the latest jobs figures will be released today, with the May unemployment rate expected to remain steady on forecasts of a small gain in jobs across the economy. Keep an eye on Coronado Global (ASX:CRN) – its share price might see a lift today after news that the coal miner has been added to the ASX200 index, replacing Crown Resorts (ASX:CWN), which has been delisted following Blackstone’s takeover.In commodities:Oil prices tumbled over 2% amid concerns that rising interest rates would impact demand. The WTI crude oil pride now trades at around US$116 a barrel.Gold prices retreated from their highs of the day after the rate hike. Now remember, although gold is considered a hedge against inflation, rate hikes increase the opportunity cost of holding non-yielding bullion.The spot iron ore price is trading 0.7% lower at US$136 a tonne.If you hold medical device company ResMed (ASX:RMD) you will receive your dividend payment today.Trading Ideas:Bell Potter have maintained its Buy rating on hardware company, Coventry Group (ASX:CYG) with a reduced price target from $2.00 to $1.70. Bell Potter sees Coventry as a business that is fast approaching an inflexion point in recovery, with market share in Australia being recouped at pace and, importantly, little cost to gross margin. Now, at its current share price of $1.20, this implies about 42% share price growth in a year.Trading Central has a bearish signal on Duxton Farms (ASX:DBF) indicating that the stock price may fall from the close of $1.68 to the range of $1.40 - $1.46 in the next 111 days according to standard principals of technical analysis.  

Yesterday was the worst trading session since May 2020, as we saw heavy losses that haven’t been since around the beginning of the pandemic. Billions were wiped from the market yesterday, with the ASX200 falling 5.3% in the first 20 minutes of the session, then very slightly recovering some of those losses. The market still closed 3.6% lower at 6,686 points. The reason behind this was the heavy selling we’ve seen in US markets over its last two trading sessions. And this was the first time the Australian market was able to respond, since our local market was closed on Monday for the Queen’s Birthday public holiday. The reason US markets have tumbled is because its inflation reading came in higher than expected. Now, on Thursday the Fed will announce its interest rate decision and these inflation numbers have increased the chances of the Fed raising rates more aggressively.As the Australian market caught up to the US yesterday, all 11 sectors saw heavy losses. The sectors that declined the most were energy, tech, materials and financials. The major banks also continued to fall. Yesterday CBA was down 2.8%, Westpac down 3.7%, NAB down 4.4% and ANZ is down 4.6%.The worst performing stocks were tech giants Block (ASX:SQ2) and Zip (ASX:ZIP), which we know are sensitive to interest rates. And some of the major mining stocks were also being sold, including Chalice Mining (ASX:CHC), Paladin (ASX:PDN), Champion Iron (ASX:CIA) , Nickel Industries (ASX:NIC) and Fortescue Metals (ASX:FMG). There were only a handful of stocks that managed to gain yesterday. The best performer was PolyNovo (ASX:PNV), followed by Domino’s Pizza (ASX:DMP).The most traded stocks by Bell Direct clients yesterday were Lake Resources (ASX:LKE), ANZ, Westpac (ASX:WBC) and CSL.Overnight, US equities saw little change, as investors await the Federal Reserve’s meeting on Thursday. The Dow is down 0.5%, the S&P500 is down 0.4% while the Nasdaq ended slightly higher, up 0.2%.What to watch today:Selling is set to continue today, with the SPI futures suggesting a 0.6% fall at the open this morning.In economic data, Westpac’s consumer confidence data for June will be out today at 10:30am AEST. This data is important because it will provide insights into how consumers have responded to the RBA’s rate hike last week.In commodities, oil is lower after signals that the US government may be considering legislation to ease the price pressures. Gold remains under pressure from a rallying US dollar and Treasury yields, as investors anticipate aggressive monetary policy tightening. And iron ore has fallen to an over two-week low.Keep watch of ANZ, as the bank may be planning on acquiring accounting software MYOB, from private equity group KKR.Trading Ideas:Bell Potter maintain their BUY rating on Cobram Estate Olives (ASX:CBO) and have lowered their price target from $2.35 to $2.20. At its current share price of $1.56, this implies 40.6% share price growth in a year.Trading Central have identified a bearish signal in Inghams Group (ASX:ING), indicating that the stock price may fall from the close of $2.67 to the range of $2.45 to $2.53 over 25 days, according to the standard principles of technical analysis.

The market was closed yesterday for the Queen’s Birthday public holiday, so before we jump into today’s trading session, let’s have a quick look at what happened last Friday.Our local market experienced its worst week since 2020, dipping below 7,000 points, as markets digested the RBA’s second rate hike, which worried investors over the impact on the big banks' bottom lines. All sectors were in the red, with the real estate, consumer discretionary and energy sectors down the most. Looking at the ASX200 leaderboard, the top performer was accounting software business, Xero (ASX:XRO), after Citi reiterated its Buy rating and $108 price target. Meanwhile the worst performers included Pointsbet (ASX:PBH), Sims (ASX:SGM) and Lynas Rare Earths (ASX:LYC).The most traded stocks by Bell Direct clients last Friday included all four of the big banks, CSL (ASX:CSL) as well as Lake Resources (ASX:LKE).Moving to the US, on Friday, the highly anticipated inflation report showed a faster-than-expected rise in prices, which took a toll on the share market. CPI came in at its highest level since 1981, rising 8.6% year-over-year. And on Monday’s session, the US market continued to come under pressure, as recession fears intensified ahead of this week’s key Federal Reserve meeting. This saw the S&P500 fall 3.9% to 3,749 points, its lowest level since March 2021, bringing its losses down more than 20% from its January record, therefore entering into bear market territory. What to watch today:Following two consecutive negative sessions in the US, our local market is set to fall 2.7% this morning if you go by the SPI futures. Economic news wise, today we’ll get an update on business confidence for May. In April, the index dropped to 10, from a 5-month high of 16 in March, and today’s reading is expected to come in at 12 points. In commodities, the oil price rose as tight supplies outweighed demand worries. The gold price slumped over 2%, as the US dollar strengthened ahead of steep interest rate hikes expected by the US Federal Reserve, and the spot iron ore price is trading 2.4% lower at US$141 a tonne. Kingsland Minerals will begin trading on the ASX today, under the ticker code KNG. Kingsland is a mineral exploration and development company focusing on high-grade uranium, copper, and gold projects across Australia. Stocks going ex-dividend today include Cimic Group (ASX:CIM) and KMD Brands (ASX:KMD), which was formerly Kathmandu Holdings.If you hold Amcor (ASX:ABC) or investment company, Whitefield (ASX:WHF), you will receive your dividend payment today. Trading Ideas:Citi have maintained its Buy rating on Domino’s Pizza (ASX:DMP), however have reduced its price target from $108.42 to $100.95. Citi’s analysis of high frequency data suggests that Domino’s website traffic in key markets (Europe and Japan) is under increasing pressure, likely further intensified by inflationary pressures and labour shortages. Citi does however see upside from potential merger and acquisition activity and expect sales momentum to rebound later in calendar year 2022. At its current share price of $62.41, this implies about 62% share price growth in a year.Trading Central has a bearish signal on Charter Hall Retail REIT (ASX:CQR) indicating that the stock price may fall from the close of $3.95 to the range of $3.25 - $3.40 in the next 141 days according to standard principals of technical analysis.  

The Aussie share market declined 3% this week (Mon-Thu), as interest rate sensitive sectors such as real estate, tech and financials fell following the RBA’s interest rate rise on Tuesday.In this week’s wrap, Sophia covers:(0:09) Why bank stocks have entered correction territory(1:39) Why Atlas Arteria (ASX:ALX) jumped 13%(2:00) Woodside Energy (ASX:WDS) booming as oil and gas prices rise(2:31) Zip (ASX:ZIP) tumbling 20% after Apple launches BNPL platform(3:37) The most traded stocks & ETFs by Bell Direct clients(3:56) Four economic news items to watch out for

The local market managed to gain 0.4% yesterday, regaining some ground after Tuesday’s interest rate rise slump.The market was up nearly 1% at one point, supported by tech, mining and oil stocks, however, ran out of stream by the session close, as all of the big banks raised their mortgage interest rates in line with the RBA, so the financials sector was the only sector to post a loss, down 2.9%.Looking at the ASX200 leaderboard, private toll road developer and operator, Atlas Arteria (ASX:ALX) jumped 16% as news came in that IFM had snapped up a 15% holding in the company, and that the infrastructure fund might put forward a takeover bid in the future. This comes amid hot competition for long-term infrastructure assets. Also performing well was Boral (ASX:BLD), up 15% after the building products company announced it had appointed its new CEO. Meanwhile, banking stocks tumbled. Bendigo & Adelaide Bank (ASX:BEN), Westpac (ASX:WBC) and Commonwealth Bank (ASX:CBA) fell the most, all down over 4%, likely driven by concerns that an aggressive tightening cycle by the RBA could create challenges for the banking sector. We saw both Commonwealth Bank (ASX:CBA) and Westpac (ASX:ABC) at the top of the most traded stocks by Bell Direct clients yesterday. Also highly traded was the BetaShares Geared Australian Equity Hedge Fund ETF (ASX:GEAR), Woodside Energy Group (ASX:WDS) and Pacific Smiles Group (ASX:PSQ). Over in the US, all three benchmarks were in the red. The Dow Jones down 0.8%, the S&P500 down 1.1% and the Nasdaq down 0.7%. This comes as investors monitor signs of a potential economic slowdown. Also, action in the bond market may have hurt investor sentiment, as the 10-year Treasury yield jumped back above 3%. What to watch today:Our local market is set to fall 0.76% this morning if you go by the SPI futures. Keep an eye on BHP Group (ASX:BHP) and Rio Tinto (ASX:RIO), as both of its US-listed shares tumbled overnight. So, today could be a tough day for the mining sector.In commodities: Oil jumped to a 13-week high on rising US gasoline demand. The WTI crude oil price is up 2.5% to US$122 a barrel and the Brent crude oil price is up 2.7% to US$124 a barrel. The gold price strengthened as worries over economic growth boosted the safe-haven’s appeal, ahead of the US inflation data due out on Friday.The spot iron ore price is trading 1% higher at US$146 a tonne. Trading Ideas:Bell Potter have maintained its Hold rating on Platinum Asset Management (ASX:PTM) with a price target of $1.70. While May’s funds under management or FUM figures were not bad, Bell Potter find that there is still little to be positive about. FUM has fallen 16.6% year to date, and at this stage Bell Potter expects average FUM for the year ending June 2022 to be $21.5b, which is 7.4% lower than 2021. At its current share price of $1.74, this implies -2% share price growth in a year.Trading Central has a bullish signal on TPG Telecom (ASX:TPG) indicating that the stock price may rise from the close of $6.07 to the range of $6.80 - $7.00 in the next 94 days according to standard principals of technical analysis.  

The Australian share market tumbled yesterday, closing the trading session 1.5% in the red, after the RBA raised the cash rate yesterday, increasing the velocity of higher borrowing costs. In its June meeting yesterday, the RBA raised the cash rate by 50 basis points to 0.85%, which is the largest lift in 22 years – the last time it was raised this much was in February 2000. It is also the first time since 2010 that the cash rate has been raised for the second month in a row. So, the market negatively reacted to the rate hike, and had its worst day in almost 3 weeks. All industry sectors declined, with tech and real estate falling the most, both sectors are sensitive to interest rates. Taking a closer look at the ASX200, the stocks that managed to make gains yesterday included Sandfire Resources (ASX:SFR), Inghams Group (ASX:ING) and Ampol (ASX:ALD), while the stocks that declined the most were BNPL company Zip (ASX:ZIP) and Clinuvel Pharmaceuticals (ASX:CUV). The most traded stocks by Bell Direct clients yesterday were Australia & New Zealand Bank (ASX:ANZ), Lake Resources (ASX:LKE), Westpac (ASX:WBC), National Australia Bank (ASX:NAB) and Commonwealth Bank (ASX:CBA). European stocks closed slightly lower amid inflation concerns, however over in the US it was a positive session, with all three major benchmarks closing higher. The Dow up 0.8%, the S&P500 up 0.95% and the Nasdaq up 0.9%. What to watch today: The Australian market is set to regain some of yesterday’s losses and follow Wall Street’s lead. The SPI futures are suggesting the ASX200 will rise 0.63% at the open this morning. In commodities: Oil is trading higher and crude futures are nearing 14-year highs, after OPEC decided to raise output for July and August. The gold price is also higher, as gold is often viewed as a safe-haven metal by investors in a risk-adverse environment, and concerns continue around slowing global growth and inflation. Iron ore has also rallied, with seaborne iron ore trading around US$145 a tonne. As for economic data to watch out for today, at 11:30am AEST, NAB’s business confidence data for May will be released, which will give us an indication of sentiment across all industry sectors. And confidence is forecast to rise from last month. Also today, watch Southern Palladium Limited (ASX:SPD) which lists on the ASX today. Trading Ideas:Bell Potter have upgraded their rating on PWR Holdings (ASX:PWH) from a Hold to a Buy and have lowered their price target from $10 to $9.25. At its current share price of $7.21, this implies 28.3% share price growth in a year.  And Trading Central have identified a bearish signal in Harvey Norman (ASX:HVN), indicating that the stock price may fall from the close of $4.26 to the range of $3.93 to $3.99 over 13 days, according to the standard principles of technical analysis. 

Yesterday, the Aussie share market started the new trading week in the red, dipping 0.5% lower to 7,206 points.The majority of the industry sectors posted losses, with the tech sector the biggest drag, falling 1.6%. While the energy sector posted a decent gain after Saudi Arabia raised oil prices substantially. Looking at the best and worst performers, gambling company, Tabcorp (ASX:TAH) advanced the most, after the state of Queensland announced tax reforms that are expected to boost revenues. Graincorp (ASX:GNC) also performed well, following the release of a positive broker note out of Macquarie. Its analysts retained their outperform rating and $11.10 price target. Meanwhile, the worst performer yesterday was Magellan Financial Group (ASX:MFG). MFG’s share price tumbled nearly 14% after its funds under management fell 5.2% to $65 billion in May. The most traded stocks by Bell Direct clients yesterday were Lake Resources (ASX:LKE), Whitehaven Coal (ASX:WHC) and Fortescue Metals (ASX:FMG). Moving to the US, all three benchmarks managed to close higher, with the Nasdaq advancing the most, up 0.4%. It was a choppy day of trade, with the market navigating a jump in Treasury yields.What to watch today:Our local market is set to fall slightly this morning if you go by the SPI futures. The futures are suggesting a small drop of 0.07% at the open.In economic news, the RBA, Australia’s central bank is all but certain to lift interest rates for the second month in the row. The cash rate currently sits at 35 basis points, with economists expecting a hike of 40 to 50 basis points. While Governor Phillip Lowe has previously voiced support for more conventional 25 basis point increases. So, keep watch today at 2:30pm AEST. Moving to commodities, the oil price topped US$120 a barrel as Saudi Arabia raised its July crude prices. The gold price dipped on a stronger dollar and Treasury yields. The seaborne iron ore price is trading 0.6% higher at US$145 a tonne. Lastly, if you hold Perpetual Credit Income Trust (ASX:PCI), you will receive your dividend today.  Trading Ideas:Citi have maintained its Buy rating on cloud tech company, Megaport (ASX:MP1), however have reduced its price target from $16.60 to $12.30, to reflect higher cost of capital and earnings downgrades. While the reduction in Megaport Virtual Edge (MVE) pricing could suggest softer demand, Citi sees the new bandwidth options as positive as high IP transit costs were a barrier for MVE adoption in Australia and New Zealand. At its current share price of $6.30, this implies 95% share price growth in a year.Trading Central has a bearish signal on Northern Star Resources (ASX:NST) indicating that the stock price may fall from the close of $8.58 to the range of $5.10 - $5.80 in the next 152 days according to standard principals of technical analysis.  

Week-to-date, the ASX200 gained 0.78%, with energy and materials gaining the most, while utilities declined. Last Friday was a positive session, with the ASX200 closing 0.9% higher, led by the materials and tech sectors, which each advanced more than 2%. The major miners gained the most on Friday, boosted by demand for iron ore and well as a lithium stocks, which extended their rebound after Wednesday’s sell-off. The best performers were Champion Iron (ASX:CIA), Pilbara Minerals (ASX:PLS), Gold Road Resources (ASX:GOR), Liontown Resources (ASX:LTR) and Nickel Mines (ASX:NIC). And the worst performer was healthcare company Healius (ASX:HLS), following an update that revealed its EBIT came in just under $100 million, compared to first half EBIT of $376 million. The most traded stocks by Bell Direct clients on Friday were Lake Resources (ASX:LKE), Fortescue Metals (ASX:FMG), Whitehaven Coal (ASX:WHC), BHP Group (ASX:BHP) and Commonwealth Bank (ASX:CBA). Overseas, European and US equities declined, following the release of a stronger-than-expected jobs report and its implication for monetary policy moving forward. The latest jobs report saw that hiring in the US remained elevated in May, however the sell-off was likely a reaction to fears that the Fed will be tightening monetary policy. The benchmark 10-year Treasury yield climbed after the report, above 2.9%. Investor fears around higher rates are around the possibility that it could cause an economic slowdown that could lead to a recession, and higher yields also discount the value of future earnings, making some stocks, like tech, less attractive. The Dow Jones closed 1.05% lower, the S&P500 down 1.6% and the Nasdaq down 2.5%. What to watch today:Following Wall Street, the Australian share market is set to fall 0.44% at the open this morning, going by the SPI futures.Today watch the share price movements of Liontown Resources (ASX:LTR), which is due to release an update to the market on its lithium agreement with Tesla. In economic data, today investors may be trading cautiously, with all focus on the RBA’s policy meeting tomorrow, as well as the European Central Bank meeting on Thursday. In commodities: The oil price rallied after OPEC delivered a modest increase in output, deciding to increase production by 648,000 barrels per day in July and August, instead of 432,000 barrels per day previously. This was seen as insufficient to compensate for Russia’s lost supply, as the European Union’s ban on Russian oil kicks in. And Russian output has dropped by 1 million barrels per day since the invasion of Ukraine. On the other hand, the gold price extended losses, following the US jobs report, while seaborne iron ore is rising higher.Companies going ex-dividend today include ALS Limited (ASX:ALQ), Champion Iron (ASX:CIA) and Incitec Pivot (ASX:IPL). Trading Ideas:Bell Potter maintain their Buy rating on Accent Group (ASX:AX1), with a $2.20 price target. The company is a footwear and sports clothing retailer and are investing in its store rollout and customer engagement, particularly for vertical brands. Bell Potter sees these higher margin sales to likely become a major driver of margin improvement and earnings growth. And AX1 last closed at $1.34, implying 64.8% share price growth in a year. Trading Central have identified a bullish signal in AMP (ASX:AMP), indicating that the stock price may rise from the close of $1.12 to the range of $1.24 to $1.26 over 21 days, according to the standard principles of technical analysis. 

The Aussie share market fell slightly this week, down 0.1% (Mon-Thu), with utilities, tech and financials coming under pressure.In this week’s wrap, Sophia covers:(0:10) Lithium stocks falling deep in the red(2:02) Why a2 Milk Company (ASX:A2M) gained 9%(2:55) Catapult Group (ASX:CAT) declining after disappointing results(3:20) The most traded stocks & ETFs by Bell Direct clients(3:50) Two economic news item to watch out for

Yesterday, the Aussie share market started the month of June with a gain of 0.3% or 22 points, despite a huge lithium sell-off.The market was mixed. The communication services sector advanced the most, while the utilities sector fell a massive 5.3%.  Looking at the ASX200 stock leaderboard, lithium miners, like Pilbara Minerals (ASX:PLS), Liontown Resources (ASX:LTR) and Allkem (ASX:AKE) were amongst the worst performers, all falling over 15%. This is due to three key factors: Firstly, Goldman Sachs have warned of a “sharp correction” in lithium prices in the next two years, secondly, customs in Argentina have set a reference price to stop ‘irregularities” and thirdly, Chinese EV giant BYD signalled plans to buy six African lithium mines. Meanwhile, the best performers yesterday included Fortescue Metals (ASX:FMG), Telstra (ASX:TLS) and TPG Telecom (ASX:TPG).Looking at the US, Wall Street started the month of June lower, amid worries about the health of the economy. All three benchmarks were in the red, with the Dow dropping nearly 200 points, the S&P500 falling 0.75%, and the tech-heavy Nasdaq down 0.72%. What to watch today:Following the negative session in the US, our local market is set to fall this morning if you go by the SPI futures. The futures are suggesting a drop of 0.76% at the open.Economic news wise, today we’ll get the latest data on Australia’s trade surplus for April, and the market is forecasting $9 billion trade surplus for the month. Keep watch of Pilbara Minerals (ASX:PLS), who have announced its new CEO. According to its release, the business will be promoting its chief operating officer, Dale Henderson to the CEO role. Moving to commodities: The oil price rose as the European Union leaders agreed to a phased ban on Russian oil, and as China ended its COVID-19 lockdowns in Shanghai. The gold price also lifted from its two-week low, as investors looked towards the safe-haven asset amid worries over an increase in inflation. However, a stronger dollar and higher US yields kept gains in check. The seaborne iron ore price is trading 2.6% higher at US$137 a tonne. TechnologyOne (ASX:TNE) is set to go ex-dividend today. Trading Ideas:Bell Potter have maintained its Buy rating on building company, Johns Lyng Group (ASX:JLG), with a reduced price target, from $8.70 to $7.50. Bell Potter’s favourable view on JLG is supported by the business being the category leader in Australia, its scalable business model, strong cash flow, as well as its opportunities in the US. Now, at its current share price of $5.92, this implies 26% share price growth in a year.Trading Central has a bearish signal on Mineral Resources (ASX:MIN) indicating that the stock price may fall from the close of $58.70 to the range of $47 - $50 in the next 16 days according to standard principals of technical analysis.  

The local market fell into the red yesterday as the financials and technology sectors weighed down on the market, after hawkish comments from the US Fed, that moved US yields higher. Also weighing down on the market was the European Union’s decision to pursue the ban on Russian oil. This has been in discussion for a while now and yesterday the EU agreed to a partial oil embargo on Russia over the invasion of Ukraine. This aims to cut 90% of Russia’s crude imports by the end of the year and aims to reduce Russia’s income to finance the war it launched on Ukraine three months ago. The ASX200 closed 1% lower yesterday will all sectors in the red. Zip (ASX:ASX:ZIP), EML Payments (ASX:EML), Megaport (ASX:MP1), Tyro Payments (ASX:TYR) and Suncorp Group (ASX:SUN) declined the most yesterday. Suncorp was also downgraded yesterday by Morgan Stanley, who now rate SUN as Underweight. As for the best performers, Beach Energy (ASX:BPT), De Grey Mining (ASX:DEG) and Whitehaven Coal (ASX:WHC) fought against the market sell-off.    The most traded stocks by Bell Direct clients yesterday were Lake Resources (ASX:LKE), Scentre Group (ASX:SCG) and the BetaShares Geared Australian Equity Hedge Fund (ASX:GEAR). Over in the US, all three major benchmarks closed lower. The Dow Jones down 0.7%, the S&P500 down 0.6% and the Nasdaq down 0.4%. What to watch today:The decline is set to continue today. Locally, the SPI futures are suggesting the Australian market will fall 0.36% at the open this morning. In commodities, the oil price is trading lower. OPEC is considering suspending Russia’s participation in the cartel, and this could make room for other producers. And as mentioned earlier, the EU has agreed to ban 90% of Russian crude by the end of this year. This embargo will cover Russian oil brought in by sea, while keeping a temporary exemption for pipeline crude, to meet the demand of Hungary, Slovakia and the Czech Republic. The gold price is also trading lower, weighed down by a rebound in the US dollar and firmer US Treasury yields. And iron ore is higher with better demand prospects in the market. In economic data, at 11:30am AEST the GDP Growth Rate for Q1 will be announced. Keep watch of Western Areas (ASX:WSA), as today there’ll vote on the company’s nickel-lithium merger with IGO. Sezzle (ASX:SZL) will hold its AGM today. United Malt Group (ASX:UMG) goes ex-dividend today. Also watch Nordic Nickel Limited (ASX:NNL), which lists on the ASX today. Trading Ideas:Bell Potter maintain a Speculative Buy rating on De Grey Mining (ASX:DEG), after the company released an updated Mineral Resource for its 100%-owned Mallina Gold Project in Western Australia. They have increased their valuation on DEG by 5% to $1.80. And at its current share price of $1.13, this implies 59% share price growth in a year. Trading Central have identified a bullish signal in Strandline Resources (ASX:STA), indicating that the stock price may rise from the close of $0.37 to the range of $0.44 – to $0.46 over 22 days, according to the standard principles of technical analysis. 

Yesterday, the Aussie share market started the new trading week with an impressive gain of 1.5%. The tech sector led the rally, up 4.6% after US inflation rose just 0.2% in April, which is the smallest increase we’ve seen in about a year and a half. So investors took the inflation data to mean that the central banks may deliver less aggressive rate hikes to control inflation. The majority of the top 10 best performing stocks on the ASX200 yesterday were tech shares, like Zip (ASX:ZIP), NOVONIX (ASX:NVX), Block (ASX:SQ2), Tyro Payments (ASX:TYR) and Megaport (ASX:MP1). While Appen (ASX:APX) continues its downward trend, losing 3.7%, after Tellus International walked away from takeover talks. The most traded stocks by Bell Direct clients yesterday, they included Lake Resources (ASX:LKE), Bowen Coking Coal (ASX:BCB) and BHP Group (ASX:BHP). Wall Street was closed on Monday for the Memorial Day federal holiday, however European stocks closed higher as China relaxed some of its COVID-19 restrictions. The German Dax lifted 0.8%, the FTSE index jumped 0.2% and the French CAC rose 0.7%.What to watch today:The Aussie share market looks to have run out of steam, as the SPI futures are suggesting that our local market is set to open 0.1% lower this morning.Keep watch of Crown Resorts (ASX:CWN) today as the business has been hit with a $80m fine from the Victorian Gambling and Casino Control Commission, over its illegal practice of accepting Chinese bank cards at its Melbourne casino to fund gambling and disguising the transactions as hotel expenses.In commodities, the oil price jumped to US$117 a barrel, a two-month high as investors wait to see if the European Union will reach an agreement on banning Russian oil. The gold price also lifted, as the US dollar dipped. While, the copper price declined 6.6% to $4.02 per pound, following ongoing demand concerns from China. If you hold Janus Henderson (ASX:JHG), Autosports Group (ASX:ASG), Plato Income Maximiser (ASX:PL8), Red Hill Iron (ASX:RHI) or Kelly Partners Group (ASX:KPG), you will receive your dividend payment today. Orica (ASX:ORI) is set to go ex-dividend today. Trading Ideas:Bell Potter have maintained its Hold rating on Appen (ASX:APX) but have reduced its price target from $6.75 to $6.50. Bell Potter have also downgraded its earnings per share forecast by 5% in both 2022 and 2023 and 4% in 2024. Now at its current share price of $6.30, this implies 3% share price growth in a year.Trading Central has a bullish signal on the a2 Milk Company (ASX:A2M) indicating that the stock price may rise from the close of $4.77 to the range of $5.15 - $5.30 in the next 36 days according to standard principals of technical analysis.  

Week-to-date the ASX200 has advanced 0.52%, boosted by the rebound in Friday’s session, when the market closed just over 1% higher, lifting the ASX200 index to its second consecutive weekly advance. 10 of the 11 industry sectors posted gains. The best performing sectors were energy, which lifted as oil prices neared two-month highs, and the consumer discretionary sector, which followed optimistic forecasts from retailers in the New York. The major banks also all advanced, supporting the broader market.  The best performing stocks were Pointsbet Holdings (ASX:PBH), City Chic Collective (ASX:CCX) and Block (ASX:SQ2). The worst performer on Friday was Appen (ASX:APX), after it was the best performer Monday-Thursday. Appen is an artificial intelligence services provider, which was approached by Canadian tech company Telus for a $1.2 billion takeover offer, offering $9.50 per share. However, Telus then withdrew their offer and Appen’s share price dropped 21% in Friday’s session. And Appen has received a lot of investor criticism, following the news. The most traded stock by Bell Direct clients on Friday were Galileo Mining (ASX:GAL). Investors took their profits after the company’s share price jumped 20.6% on Friday, following news that the miner has discovered rhodium mineralisation at its Norseman project in Western Australia. It was a strong session on Wall Street, with the Dow Jones and the S&P500 closing their best weeks since November 2020. The Dow gained 575 points, up nearly 1.8%. The S&P500 rallied 2.5% higher. And the tech-heavy Nasdaq outperformed, ending the day 3.3% higher, boosted by strong earnings from software companies, as well as a fall in the 10-year Treasury yield. What to watch today:The ASX200 is set to open higher. The SPI futures are suggesting a strong lift of 1.15% at the open this morning.In commodities, oil is trading around US$115 per barrel, amid persistent concerns of tighter global supplies and increasing demand. So watch producers such as Santos (ASX:STO) and Woodside, which recently changed its ticker code to (ASX:WDS). Gold is also trading higher, benefiting from recent weakness in the US dollar. And iron ore has also rallied to an almost three-week peak. Watch AGL Energy (ASX:AGL)’s share price movements, as there has been some speculation that the company has dropped its demerger plans. We’re expecting an announcement from AGL’s CEO sometime today. Companies that are set to go ex-dividend today are Coronado Global Resources (ASX:CRN) and Elders (ASX:ELD). So, this often sees shares fall, as investors take their profits.Link Administration (ASX:LNK) will hold its AGM today. Trading Ideas:Bell Potter maintain their Buy rating on EROAD (ASX:ERD) and have lowered their price target from $5 to $3.40, as well as reduced their underlying EPS estimates, accounting the higher corporate costs and lower FY23 estimated EBIT guidance. ERD last closed at $2.40, implying 41.7% share price growth in a year.Trading Central have identified a bullish signal in Qantas (ASX:QAN), indicating that the stock price may rise from the close of $5.46, to the range of $6.10 to $6.30 over 17 days, according to the standard principles of technical analysis. 

The Aussie share market declined 0.6% this week (Mon-Thu), with only the materials and financials sectors managing to post gains.In this week’s wrap, Sophia covers:(0:17) Bell Potter & Citi's ratings on the major banks(2:06) Why Appen (ASX:APX) has crashed today(2:39) The most traded stocks & ETFs by Bell Direct clients(3:13) Four economic news item to watch out for

Yesterday, the ASX200 managed to lift 0.4% or 26 points higher to close at 7,155 points, despite the threat of rising interest rates and inflationary pressures again leading to a heavy tech sell-off. Consumer staples stocks led the way, with the sector lifting 1.5%. Financials also performed well with all four of the big banks posting gains of over 1%. While, the worst performing sector was the tech sector, which fell about 3%.The best performer yesterday was Australia’s largest horticultural company, Costa Group Holdings (ASX:CGC) which closed 8.6% higher. This followed its shareholders receiving a cautiously optimistic outlook for the 2022 financial year in its AGM yesterday. CGC expects its earnings to be $5 million higher this year while its after tax profit is predicted to fall $6.4 million. Other stocks that posted gains included Nufarm (ASX:NUF), Perseus Mining (ASX:PRU) and Orica (ASX:ORI).  Meanwhile, Chalice Mining (ASX:CHC), City Chic Collective (ASX:CCX) and Pro Medicus (ASX:PME), all posted losses of around 6%. The most traded stocks by Bell Direct clients yesterday, they included BHP Group (ASX:BHP), Lake Resources (ASX:LKE), Bank of Queensland (ASX:BOQ) and BrainChip (ASX:BRN).Moving to the US, all three benchmarks closed higher. The Dow closed 0.6% higher, the S&P500 up 1% and the Nasdaq pushed 1.5% higher. The minutes of the Federal Reserve’s May meeting were released, and they showed that the central bank is prepared to raise rates further than the market had anticipated. What to watch today:Following the positive session in the US, the SPI futures are suggesting that our local market is set to open 0.2% higher this morning.Reporting wise, iron ore miner, Champion Iron (ASX:CIA) is set to release its full-year results today. Goldman Sachs is expected CIA to report both revenue and EBITDA increases of 14% and 12.8% respectively over the prior corresponding period. Moving to commodities: The oil price lifted 1% to US$110 a barrel. Natural gas surged to above $9, its highest level since 2008, as inventories stay low.  The gold price fell as the US dollar strengthened after the minutes of the Federal Reserve’s May meeting.The spot iron ore price is trading 1.5% lower at US$130 a tonne.One company debuting on the ASX today is TG Metals. The company is pursuing nickel, lithium and gold exploration and development opportunities in Western Australia. It will be trading under the ticker code TG6.A few companies going ex-dividend today include Aristocrat Leisure (ASX:ALL), James Hardie Industries (ASX:JHX) and Nufarm (ASX:NUF).If you hold Bank of Queensland (ASX:BOQ), you will receive your dividend payment today. Trading Ideas:Citi have maintained its Buy rating on Bank of Queensland (ASX:BOQ) but have reduced its price target from $10.25 to $9.25. At its current share price of $7.52, this implies 23% share price growth in a year.Trading Central has a bearish signal on BHP Group (ASX:BHP) indicating that the stock price may fall from the close of $43.02 to the range of $33.50 - $35.25 in the next 89 days according to standard principals of technical analysis.  

The local market fell 0.3% or 20 points lower yesterday to close at 7,128 points.The tech sector came under quite a bit of pressure, falling 3% after US tech stock Snapchat, plunged in after-hours trading. We’ll touch on Snapchat in just a bit. The rest of the sectors closed in the red, except for the real estate and financial sectors, both closing around 0.3% higher, with all four of the big banks closing higher. Some of the best performers yesterday included Allkem (ASX:AKE), Pilbara Minerals (ASX:PLS) and Liontown Resources (ASX:LTR), all benefitting amid optimism that lithium demand will continue to outstrip supply for some time to come. While the worst performers included Nufarm (ASX:NUF), Imugene (ASX:IMU) and City Chic Collective (ASX:CCX). The most traded stocks by Bell Direct clients yesterday, they included Grange Resources (ASX:GRR), which rose 5.6% yesterday, following the strength in the iron ore price. Also highly traded was Lake Resources (ASX:LKE), BHP Group (ASX:BHP) and Commonwealth Bank (ASX:CBA).Moving to the US, the market was mixed. The Dow Jones managed to claw back its early losses and rally into the close, boosted by UnitedHealth Group, as well as McDonald’s, Verizon, and IBM. While the S&P500 fell 0.8% and the Nasdaq dropped over 2% after Snapchat plummeted 43%. The social media company’s shares fell as it warned that it was bracing to miss its earnings and revenue targets in the current quarter. So this led to other tech companies, like Meta, Alphabet, Amazon, and Apple leading the day’s losses as investors feared a slowdown in digital advertising. What to watch today:Following the mixed session in the US, the SPI futures are suggesting that our local market is set to open 0.1% higher this morning.Reporting wise, ALS (ASX:ALQ) and Fisher & Paykel Healthcare (ASX:FPH) will be releasing their full-year results and dividend today. Moving to commodities, the oil price traded flat as tight supply worries offset concerns over a possible recession and China’s COVID-19 curbs. The gold price gained as the US dollar fell, therefore boosting the safe-haven asset’s appeal. And the spot iron ore price trading 4.8% higher to US$132 a tonne.One company debuting on the ASX today is Bellavista Resources. Bellavista is a mineral exploration company, targeting large, high-grade base metal and battery mineral deposits in WA. It will be trading under the ticker code BVR. Alumina (ASX:AWC) and Costa Group Holdings (ASX:CGC) are holding their AGMs today. Trading Ideas:Bell Potter have maintained its Buy rating on software company, TechnologyOne (ASX:TNE) with an increased price target from $12.50 to $12.75. TNE provided financial year 2022 guidance of 10-15% profit after tax growth, as expected. The company also said it expects SaaS or Software as a Service annual recurring revenue growth for the full year to be more than 40%, with initial licence fees to be down from financial year 2021. At its current share price of $10.24 this implies about 25% share price growth in a year. Trading Central has a bullish signal on lithium business, Liontown Resources (ASX:LTR) indicating that the stock price may rise from the close of $1.33 to the range of $1.54 - $1.60 in the next 22 days according to standard principals of technical analysis.  

The local market closed with little change yesterday, amid reviving fears about China’s economic growth now that there are rising COVID-19 cases in Beijing. Locally, materials and technology shares advanced the most, while utilities, financials and consumer staples declined. On the ASX200 leaderboard, Codan (ASX:CDA) was the best performer after releasing its FY22 guidance. The company expects to match its first-half profit in the second half. If this is achieved, Codan will hit a record full-year profit of $100 million, which would be an 56% increase year-on-year. Meanwhile Polynovo (ASX:PNV), NOVONIX (ASX:NVX) and Incitec Pivot (ASX:IPL) dropped the most. The most traded stocks by Bell Direct clients yesterday were Lake Resources (ASX:LKE), APA Group (ASX:APA), BHP Group (ASX:BHP) and CSL Limited (ASX:CSL). In New York there was a bank-led rally saw the Dow Jones rebound more than 600 points, closing 1.98% higher, following a week of sharp losses. The S&P500 closed with a gain of 1.86% and the tech-heavy Nasdaq gained 1.59%. What to watch today:  Following US equities, the Australia share market is set to rise 0.27% at the open this morning. In commodities, the price of oil is trading lower as worries of a recession offset expectations of higher fuel demand over in the US. Gasoline demand in the US has remained at record levels, ahead of Memorial Day weekend, the peak driving season in the US. The price of gold reached its highest in two weeks, lifted by a weaker US dollar. Meanwhile, iron ore prices have risen higher. Today watch Technology One (ASX:TNE), which is set to report its earnings results today. Viva Energy Group (ASX:VEA) will hold its AGM today. Amcor (ASX:AMC) and GQG Partners (ASX:QGQ) are set to go ex-dividend today. Trading Ideas:Bell Potter have upgraded their recommendation on AFT Pharmaceuticals (ASX:AFP) from a Hold to a Buy, after the company reports its FY23 result yesterday. The price target has remained unchanged at $4.80 and AFP’s currently share price is $3.20, which implies 50% share price growth in a year. Trading Central have identified a bearish signal in PM Capital Opportunities Fund (ASX:PGF), indicating at the stock price may fall from the close of $1.58 to the range of $1.44 to $1.46 over 11 days, according to the standard principles of technical analysis. 

Over the week the ASX200 gained 1%, with the tech sector in the lead, up 5% week-to-date. On Friday the market gained 1.15%, with most sectors in the green. Only energy and real estate stocks finished lower. The standout stock on Friday was Chalice Mining (ASX:CHN), jumping 19%.The company received a new set of exploration approvals to expand its existing WA nickel projects. Following this, Bell Potter retained their Speculative Buy rating on CHN with a $12.02 price target. At its current share price of $6.81, this implies 76.5% share price growth in a year. Following CHN on the leaderboard were tech stocks, recovering from prior losses. These included family app Life360 (ASX:360), battery materials and tech company NOVONIX (ASX:NVX) and Afterpay’s parent company Block (ASX:SQ2). Meanwhile Nufarm (ASX:NUF) and Woodside Petroleum (ASX:WPL) declined the most. The most traded stocks by Bell Direct clients on Friday were Lake Resources (ASX:LKE), CSL (ASX:CSL), BHP Group (ASX:BHP) and BrainChip Holdings (ASX:BRN). In US equities, the Dow fell for the 8th straight week amid a broader market sell-off. The Dow and the S&P500 both closed flat, while the Nasdaq saw its 7th negative week in a row for the first time since March 2001 and also saw its lowest intraday level since November 2020 on Friday.  What to watch today:The SPI futures are suggesting the Australian market will fall 0.21% at the open this morning. In commodities, the oil price is trading lower, as we wait for news on the potential EU ban on Russian oil. Oil demand however is expected to rebound in China, as authorities in Shanghai lifted some COVID restrictions. Meanwhile gold is trading flat, while seaborne iron ore is in the green. And two companies reporting their earnings results today are Elders (ASX:ELD) and Incitec Pivot (ASX:IPL). So, keep watch of their share price movements today. Trading Ideas:Bell Potter maintain their Buy rating on Select Harvests (ASX:SHV) and have lowered their price target from $7.40 to $6.95. SHV last closed at $5.99, implying 16% share price growth in a year. Trading Central have identified a bullish signal in The a2 Milk Company, indicating that the stock price may rise from the close of $4.28 to the range of $4.65 to $4.75 over 30 days, according to the standard principles of technical analysis. 

The Aussie share market fell 0.15% this week (Mon-Thu), with industry sectors mixed. The consumer staples sector took the biggest hit, down 3.6%, while the tech sector managed to gain 0.5% after suffering major losses recently. In this week’s wrap, Sophia covers:(0:48) The wage price spiral(1:50) Why biotech company Imugene (ASX:IMU) gained the most(2:39) A stock to consider if you want to buy into tech(3:03) Infomedia (ASX:IFM) jumping 29% after acquisition proposal(4:10) The most traded stocks & ETFs by Bell Direct clients(4:46) One economic news item to watch out for

The local market jumped 1% or 70 points higher yesterday to close at 7,182 points. Sectors wise, the majority of the industry sectors were in the green, with the materials and tech  sectors rallying the most. Meanwhile, the consumer staples sector declined 1% and the financial sector experienced a bit of pressure with three of the big banks, CBA, WBC and NAB declining.The best performer was Champion Iron (ASX:CIA) which lifted 5.3% after signing a deal to acquire an iron ore pelletizing facility for $2.7 million. Subject to positive findings, a joint venture may be formed to produce iron ore pellets for sale to third parties, including the feasibility partner. Travel stocks like Corporate Travel Management (ASX:CTD) and Flight Centre (ASX:FLT) performed well, despite no news from either company. What seems to have supported their gains was many international travel stocks taking off, with the rise seemingly spurred by Nasdaq-listed United Airlines Holdings (UAL), who upgraded their guidance. Meanwhile, the worst performers yesterday were PolyNovo (ASX:PNV), Sims (ASX:SGM) and Eagers Automotive (ASX:APE). The most traded stocks by Bell Direct clients included Fortescue Metals (ASX:FMG), Champion Iron (ASX:CIA) and Sims (ASX:SGM).Moving to the US, stocks fell sharply, as earnings from big retailers Target and Walmart renewed fears of rising inflation. Target shares slumped 25% after its first-quarter earnings were much lower than estimated due to higher fuel and compensation costs. And Walmart, who posted earnings on Tuesday also posted earnings that fell short of expectations, citing higher fuel and labour costs. This saw the Dow Jones post its biggest loss since 2020, falling over 1,100 points. The S&P500 dropped over 4%, its worst drop since June 2020 and the tech-heavy Nasdaq index slipped 4.7%.What to watch today:Following the sell-off in the US, the SPI futures are suggesting that our local market is set to open 1.8% lower this morning.Reporting wise, both Aristocrat Leisure (ASX:ALL) and Nufarm (ASX:NUF) will release their half-year results. We’ll also hear from Webjet (ASX:WEB). The travel company will share its full-year results. So, keep watch of those three stocks. Economic news wise, all eyes will be on the unemployment rate for April that will be announced at 11:30am AEST. Consensus forecasts suggest the Aussie economy may have added between 25,000-30,000 jobs last month, and if that data comes in as expected, the nation’s official unemployment rate could drop to 3.9%, setting a multi-decade low in the process.Moving to commodities:The oil price dropped 2% to US$109 a barrel, after government data showed US refiners had ramped up output, which eased worries of a supply crunch. The gold price lifted slightly, as a slide in US Treasury yields helped offset pressure from a firmer dollar. Other metals like silver, copper and platinum all declined between 1-2%. The spot iron ore price trading about 1.6% lower to US$125 a tonne.Stocks going ex-dividend today include Westpac (ASX:WBC), Pendal Group (ASX:PDL) and Virgin Money UK (ASX:VUK). This often results in the company’s share price falling, as investors take their profits.And finally, Adbri (ASX:ABC), Gold Road Resources (ASX:GOR) and Woodside Petroleum (ASX:WPL) are holding their AGMs today. Trading Ideas:Bell Potter have maintained its Buy rating on Eagers Automotive (ASX:APE) albeit with a reduced price target from $17.25 to $15.50. APE released a trading update and provided first-half 2022 guidance, which was in line with Bell Potter’s expectations. The company noted that demand for new vehicles continues to materially exceed supply and as a result the new car order book has increased by more than 25% since the end of December last year. A

The local market yesterday closed with a gain of 0.27%. Energy stocks lead the ASX200, up more than 2% at the close, as oil prices rallied in response to Shanghai’s reopening, and as investors await developments around a proposed EU ban on Russian oil. Utilities and materials also closed in positive territory, as did the financials, with the major banks all higher.The 10 best performing stocks on the ASX200 yesterday included energy stocks like Beach Energy (ASX:BPT) and Whitehaven Coal (ASX:WHC), both gaining around 6%. The best performer yesterday was Lynas Rare Earths (ASX:LYC), its share price seeing some recovery this week, after last week falling to a year-to-date low of $8.37, however is now trading at $9.42. This was despite no news from the company that would be price sensitive. However, yesterday the materials index closed just over 1% higher, which boosted LYC’s share price. Meanwhile, logistics company, Brambles (ASX:BXB), was the worst performing stock on Tuesday after confirming they’ll not be moving forward with the proposal from private equity company CVC Capital Partners, which sent BXB’s shares into reverse. Shareholders took their profits as BXB fell 8% yesterday.The most traded stocks by Bell Direct clients yesterday included Whitehaven Coal (ASX:WHC), Lynas Rare Earths (ASX:LYC), Lake Resources (ASX:LKE), BHP Group (ASX:BHP) and Westpac (ASX:WBC).It was a strong trading session in New York overnight, as US equities were in positive territory. The Dow Jones up 1.3%, the S&P500 up 2% and the Nasdaq rallying 2.8%.What to watch today:Following US equities, the ASX200 is set to rise, with the SPI futures suggesting the market will lift 0.98% at the open this morning.In commodities, oil is currently trading flat. There are hopes that Venezuela could supply more oil to the market, after the US extended a limited license for Chevron, which is an oil company that operates in Venezuela, allowing them to maintain operations. There have also been negotiations for future business, temporarily lifting a ban on such discussions. Additionally, a pullback in the US dollar supported bullion demand, but the gold price is slightly lower, while seaborne iron ore is also trading in the red.In economic data, today the wage price index for the first quarter will be released at 11:30am AEST, expected to rise to 2.5% year-over-year from 2.3% in Q4 2021.Watch Eagers Automotive (ASX:APE) and Telix Pharmaceuticals (ASX:TLX) as both companies will hold their AGMs today.Watch Aurora Energy Metals (ASX:1AE) as it lists on the ASX today.Trading Ideas:Bell Potter maintain their Buy rating on Pendal Group (ASX:PDL), following a strong set of H1 results that were ahead of Bell Potter’s expectations. Bell Potter have increased their FY22 estimates due to the strong revenue and lower costs and have increased their price target to $6.80. PDL last closed at $5.08, implying 35.8% share price growth in a year.Trading Central have identified a bullish signal in Emerald Resources (ASX:EMR), indicating that the stock price may rise from the close of $1.12 to the range of $1.33 to $1.39 over 20 days, according to the standard principles of technical analysis.

Yesterday the market was up as much as 1% in the first hour of the session, following a strong trading session over on Wall Street, and soon after that the market started to drop, following weak economic data from China. China’s April retail sales dropped 11.1% on the year, when the market was expecting a 6% drop, so it fell almost twice the forecast. Additionally, the unemployment rate in China rose to 6.1%. Locally, the Australian market dropped but still managed to close with a 0.25% gain. Leading the ASX200 was transport and logistics company Brambles (ASX:BXB), which gained over 11% yesterday to its highest price in 8 months. This was after news of a potential takeover offer by private equity group CVC for $20 billion. Meanwhile, Imugene (ASX:IMU), City Chic Collective (ASX:CCX), and Zip (ASX:ZIP) declined the most. Bell Direct clients were trading mostly ETFs yesterday, including VAF, VEU and EMKT. It was a volatile session overnight in the US. The Dow Jones closed with a slight gain of 0.08%, while the S&P500 dropped 0.39%. The Nasdaq was the session’s underperformer, as tech stocks continue to fall, closing 1.2% lower. What to watch today:The SPI futures are suggesting the local market will rise 0.32% at the open this morning. In economic news, today we’ll receive the RBA’s meeting minutes, at 11:30am AEST. These are the minutes from the central bank’s meeting earlier this month and it may draw some attention, as this was the meeting when the RBA lifted the cash rate. In commodities, the oil price has jumped again as concerns of tighter global supplies outweighed the weakening global demand outlook. Gold and seaborne iron ore are also trading higher. James Hardie Industries (ASX:JHX) is set to release its quarterly earnings. Trading Ideas:Citi has a Buy rating on Brambles (ASX:BXB) with a $12.29 price target. Citi say that compared to traditional leveraged buyout targets, BXB has little excess assets on its balance sheet, and CVC (who are the private equity group proposing the takeover bid) see the market as undervaluing the operating business and complex strategic initiatives over the medium term.Trading Central have identified a bearish signal in Metcash (ASX:MTS), indicating that the stock price may fall from the close of $4.63 to the range of $4.40 to $4.44 over 19 days according to the standard principles of technical analysis.

Before we jump into today’s session, let’s have a quick look at what happened in last Friday’s session. The local market surged 1.9%, and despite this being the strongest lift we’ve seen since late January, it wasn’t enough to recover Thursday’s losses, with the market still closing 1.8% lower last week. Sectors wise, all the industry sectors were in the green. The tech sector rallied the most, up 7%, and this follows the Nasdaq closing in the green during its Thursday session and a stronger-than-expected result from BNPL company Affirm, which lifted 23% aftermarket.The best performers were mainly tech stocks. Afterpay-parent Block (ASX:SQ2) led the way, rising 15%, followed by Life360 (ASX:360) which rose 14.3% and PolyNovo (ASX:PNV) which lifted 14%. On the flip side, gold miners like Gold Road Resources (ASX:GOR), Evolution Mining (ASX:EVN) and Newcrest Mining (ASX:NCM) struggled on Friday, after the gold price tumbled.The most traded stocks by Bell Direct clients last Friday included Macquarie Group (ASX:MQG), CSL (ASX:CSL) and BHP Group (ASX:BHP).Moving to the US, stocks also jumped higher, helping prevent the S&P500 from tumbling into bear market territory. The Dow rose over 400 points, the S&P500 lifted 2.4% and the Nasdaq surged 3.8%. Despite Friday’s gains, the major averages posted losses for the week.What to watch today:Following the positive session in the US, the SPI futures are suggesting that our local market is set to open 0.8% higher this morning.A company to watch today is Goodman Group (ASX:GMG), as the industrial property company is set to release its third quarter update, with the market looking for an upgrade to its guidance, as many brokers believe GMG will outperform its provided FY22 EPS growth of 20%.Moving to commodities: The oil price lifted about 4% on Friday to US$110 a barrel as US gasoline prices jumped to a record high and China seemed likely to ease its pandemic restrictions.The gold price fell more than 1%, following the dollar’s strong run and more aggressive US interest rates on the horizon. The spot iron ore price traded about 1.2% higher to US$124 a tonne.One new company debuting on the ASX today is natural resources company, Southern Cross Gold. It will be trading under the ticker code SXG. Dicker Data (ASX:DDR), Macquarie Group (ASX:MQG) and Autosports Holding (ASX:ASG) are set to go ex-dividend today.Trading Ideas:Citi have initiated coverage on Australian retailer, Universal Store Holdings (ASX:UNI) with a Buy rating and price target of $5.83. Citi sees the company having multiple medium-term growth drivers, including increased store rollout, margin expansion opportunities, as well as increased private brand penetration and direct sourcing. At its current share price of $4.50 this implies about 30% share price growth in a year. Trading Central has a bullish signal on aerial imagery technology company, Nearmap (ASX:NEA) indicating that the stock price may rise from the close of $1.20 to the range of $1.49 - $1.57 in the next 17 days according to standard principals of technical analysis.  

The Aussie share market declined 3.7% this week (Mon-Thu), with all the industry sectors in the red as rates, war, inflation, and an upcoming election give investors plenty to think about.In this week’s wrap, Sophia covers:(0:38) Block (ASX:SQ2) falling 30%(1:00) Why the tech sector crashed(1:46) Seven tech stocks Bell Potter has a buy rating on(2:25) The best and worst performing stocks in the All Ords(2:45) The most traded stocks & ETFs by Bell Direct clients(3:20) One economic news item to watch

The Aussie share market managed to post a small gain of 0.2%, snapping its three-day losing streak. Aussie investors digested the latest consumer confidence data from Westpac showing that confidence was down 5.6% to 90.4 points in May, the measure's lowest level since August 2020, when COVID lockdowns were hitting Victoria. So how did the overall market perform? The majority of the industry sectors were in the green.  The healthcare sector led the pack, but it was the financial sector that did come under a bit of pressure, weighed down by a 3.9% drop in NAB’s share price, after the stock traded ex-dividend yesterday.The best performer was Lifestyle Communities (ASX:LIC), up an impressive 15.1%. This followed some insider buying and a bullish note out by Goldman Sachs, where the broker reiterated its buy rating and $24.65 price target. Other top stocks include City Chic Collective (ASX:CCX) and Life360 (ASX:360). On the other hand, Link Administration (ASX:LNK) closed 15.1% lower to $4.22. During the trading session, the company requested a trading halt, after its shares sank 12%. The company then responded to the ASX query and noted that it was not aware of any material information about its proposed acquisition by Dye & Durham and weren’t aware of any reason for the decline in its share price and elevated trading volumes yesterday. The most traded stocks by Bell Direct clients yesterday included Macquarie Group (ASX:MQG), Westpac (ASX:WBC) and Galileo Mining (ASX:GAL).Moving to the US, all three benchmarks closed in the red. The Dow Jones fell over 300 points, the S&P500 down 1.7% and the Nasdaq dropped 3.2%. This comes as investors digested the latest US inflation data. April’s CPI showed an 8.3% jump, which was higher than the 8.1% increase expected by economists polled by the Dow Jones. Now with the annual rate ticking down from 8.5% to 8.3%, it’s still unclear if we’ve seen the peak. Some believe the data could be sign that the Fed is behind the curve in curbing inflation. And following the data release, the 10-year Treasury yield briefly jumped above the 3% mark, however settled at 2.9%. What to watch today:Following the negative session over in the US, the SPI futures are suggesting that the market is set to open 0.5% lower.This morning, Commonwealth Bank (ASX:CBA) will deliver its third-quarter trading update. Other companies reporting today include mining and infrastructure solutions provider, Orica (ASX:ORI) who will be releasing its half-year profit and announcing its interim dividend. And cloud-based accounting software business, Xero (ASX:XRO) will today be releasing its full-year results.Moving to commodities, the oil price traded higher off the back of supply concerns as flows of Russian gas to Europe fell. The gold price lifted as the US dollar retreated following the latest US inflation data release. And the spot iron ore price traded lower and is sitting at around US$123 a tonne.   If you’re a shareholder of Myer Holdings (ASX:MYR), you will receive your fully franked interim dividend of 1.5 cents per share today.Tabcorp (ASX:TAH), Ampol (ASX:ALD) and Sigma Healthcare (ASX:SIG) are holding their AGMs today.Trading Ideas:Citi have maintained its Buy rating on Ardent Leisure (ASX:ALG) with a price target of $1.96. At its current share price of $1.20, this implies about 63% share price growth in a year. Trading Central has a bullish signal on medical device company, PolyNovo (ASX:PNV) indicating that the stock price may rise from the close of $1.12 to the range of $1.54 - $1.64 in the next 79 days according to standard principals of technical analysis.  

The major mining stocks lead the market’s losses yesterday and the market lost 1%, following a fall in commodity prices and doubts about Chinese growth, in its push to achieve its zero COVID strategy. Shanghai’s lockdown has been reinstated with some stricter rules, including the ban of food delivery services. Locally, materials, energy and utilities were down the most yesterday. Looking at the ASX200 leaderboard, insurance company AUB Group (ASX:AUB) declined the most yesterday after news that the company is set to acquire UK insurance broker Tysers for $880 million. And with the fall in commodities, mining stocks fell, including Chalice Mining (ASX:CHN), Paladin Energy (ASX:PDN), Rio Tinto (ASX:RIO), De Grey Mining (ASX:DEG) and Newcrest Mining (ASX:NCM) to name a few. Pendal (ASX:PDL) surged more than 8% after reporting underlying earnings 22% above market consensus, and PolyNovo (ASX:PNV) gained 16% amid news of more insider buying. The most traded stocks by Bell Direct clients yesterday included Lake Resources (ASX:LKE), Macquarie Group (ASX:MQG), BHP Group (ASX:BHP), Westpac (ASX:WBC) and Rio Tinto (ASX:RIO). In US equities, the major benchmarks closed mixed ahead of the release of the US inflation reading. Tonight, April’s consumer price index will be announced in the US, expected to rise 0.2% from the month prior and 8.1% year over year, according to the Dow Jones consensus estimate. The Dow Jones fell for the fourth consecutive day, down about 35 points, while the S&P500 edged 0.25% higher. The Nasdaq gained 1%, with a rebound in some mega-cap technology stocks leading the gains, including Microsoft and Apple which gained 1% each.  What to watch today:The Australian market is set to slightly fall at the open this morning, with the SPI futures suggesting a drop of 0.1%, after a mixed night in the US. Follow price movements of technology stocks today. Tech stocks crashed in the Chinese market, however performed well over in the US. A trading idea to consider is Technology One (ASX:TNE), which Bell Potter have retained their Buy rating on, with a lower price target of $12.50 from $14. On the 24th of May, TNE will report its half-year earnings, and Bell Potter expect TNE to report recurring revenue growth of 38%. Watch lithium developer AVZ Minerals (ASX:AVZ), which is due to return from a trading halt this morning. In commodities, oil prices have fallen again, trading 3.5% lower. Gold also remains under pressure from a strong US dollar. And seaborne iron ore is over 1% lower.In economic data, Westpac’s consumer confidence index for May will be released today. This will give us an indication of how consumers are feeling this month. Last month, consumer sentiment fell by 0.9%, and is expected to fall 1% this month. Other companies reporting their earnings today are CSR Limited (ASX:CSR) and GrainCorp (ASX:GNC). GPT Group (ASX:GPT), Smart Group Corporation (ASX:SIQ) and Unibail-Rodamco-Westfield (ASX:URW) will hold their AGMs today. Trading Ideas:Bell Potter maintain their BUY rating on Coronado Global Resources (ASX:CRN), and expect the company to generate strong free cash flow on their met coal price outlook. The price target has been lowered to $2.50, and CRN’s last share price was $2.17, implying 15.2% share price growth in a year. Trading Central have identified a bullish signal in Sezzle (ASX:SZL), indicating that the stock price may rise from the close of $0.85 to the range of $1.01 to $1.05, over 21 days according to the standard principles of technical analysis. 

Yesterday, the Aussie share market started the new trading week extending its losses from the previous trading session. The benchmark S&P/ASX200 index slipped 1.2%, reaching its lowest level since mid-March. It comes as China intensifies its zero-COVID policy, which in turn has deepened the supply chain crisis. Looking at the sector performances, the market was broadly sold off, with both the real estate and tech sectors posting the biggest losses. The energy, consumer staples and healthcare sectors did however manage to all close slightly higher.The best performer yesterday was once again medical device company, PolyNovo (ASX:PNV), in part due to its directors toping up on PNV shares, however it also seems investors are taking advantage of its share price weakness to purchase more shares. Meanwhile, the worst performers included NOVONIX (ASX:NVX), Imugene (ASX:IMU) and Magellan Financial Group (ASX:MFG). Investors are continuing to sell Imugene shares, following the termination of its supply agreement with Merck. The most traded stocks by Bell Direct clients yesterday included Fortescue Metals Group (ASX:FMG), ANZ (ASX:ANZ) and Macquarie Group (ASX:MQG).In the US, the sell-off continued with all three benchmarks coming under pressure. The Dow Jones fell more than 600 points, the S&P500 down 3.2% and the Nasdaq slipped 4.3%. All sectors were in the red, apart from the consumer staples sector. Amid the losses, the benchmark 10-year Treasury yield hit its highest level since late 2018, trading well above 3%, which continued to crush tech names like Meta, Alphabet, Netflix, and Apple.What to watch today:If you go by the SPI futures, the market is set to open 1.39% lower.Reporting wise, capital market business, Pendal Group (ASX:PDL) will be releasing its half-year results today. Economic news wise, business confidence for April will be announced today. Business confidence currently stands at a five-month high of 16 points, however April’s reading is forecasted to fall to 12 points.Moving to commodities, the oil price tumbled around 6% as China’s lockdowns weigh on demand outlook. The gold price extended its decline to fall more than 1% on Monday, as the US dollar pushed to near two-decade highs. And the spot iron ore price has fallen about 4%, trading at $US136 a tonne.Private toll road developer, Atlas Arteria (ASX:ALX) is holding its AGM today.Trading Ideas:Citi have maintained its Buy rating on Domino’s Pizza (ASX:DMP) with a price target of $108.42. At its current share price $67.60, this implies about 60% share price growth in a year. Trading Central has a bearish signal on Northern Star Resources (ASX:NST) indicating that the stock price may fall from the close of $9.06 to the range of $7.10 - $7.50 in the next 35 days according to standard principals of technical analysis.  

Last week concerns around aggressive monetary tightening by central banks saw markets sharply decline. Week-to-date the Australian market closed just over 3% lower, with all sectors lower.On Friday the market closed 2.2% lower, its worst trading session since February. Again, a broad based sell off ended with all sectors in the red. Tech and property shares declined the most. Paladin Energy (ASX:PDN), Life360 (ASX:360) and Xero (ASX:XRO) were the worst performers. Stocks that managed to make slight gains included ResMed (ASX:RMD), Wesfarmers (ASX:WES), Mineral Resources (ASX:MIN), Costa Group (ASX:CGC), Cromwell Property Group (ASX:CMW), Amcor (ASX:AMC) and Medibank (ASX:MPL). PolyNovo (ASX:PNV) managed to gain 4%, following news that its chairman and non-executive director bought 500,000 and 100,000 shares in the company respectively. The most traded stocks by Bell Direct clients on Friday were Macquarie Group (ASX:MQG), Lake Resources (ASX:LKE), the Vanguard Australian Shares ETF (ASX:VAS), BHP Group (ASX:BHP) and CSL (ASX:CSL).In New York, stocks further declined, extending the week’s losses. The Dow Jones closed 0.3% lower, the S&P500 down 0.6%, while the Nasdaq closed 1.4% lower. What to watch today:The SPI futures are suggesting the Australian share market will fall 0.7% at the open this morning. In commodities, the price of oil is trading higher, amid concerns of tight global supply, ahead of the EU’s impending embargo on Russian oil. The gold price is higher, after coming under pressure last week. And iron ore has dropped, with seaborne iron ore trading 5% lower. So, watch iron ore stocks today such as Rio Tinto (ASX:RIO), Fortescue Metals (ASX:FMG), Champion Iron (ASX:CIA) and Mineral Resources (ASX:MIN).  Watch Westpac (ASX:WBC)’s share price movements today. This morning Westpac released its half year earnings, reporting first half of 2022 statutory net profit, up 63% compared to the second half of 2021 and down 5% compared to the first half of 2021. And a fully franked interim dividend of 61 cents per share. If you hold Metrics Income Opportunities Trust (ASX:MOT) you can expect to receive your dividend payment today. Trading Ideas:Bell Potter maintain their BUY rating on Life360 (ASX:360), with a 9% decrease to their price target to $7.50, which is still over 100% premium to the share price. Trading Central have identified a bearish signal in Bravura Solutions (ASX:BVS), indicating that the stock price may fall from the close of $1.66 to the range of $1.40 to $1.44, over 17 days, according to the standard principles of technical analysis. 

The Aussie share market came under pressure this week, as central banks started to act on taming inflation and normalising monetary conditions.   In this week’s wrap, Sophia covers: (1:40) Why Imugene (ASX:IMU) tumbled(1:52) The best and worst performing stocks in the All Ords(2:11) The most traded stocks by Bell Direct clients(2:40) Big Aussie banks reporting earnings(4:20) Three economic news items to watch out for 

Yesterday, the Aussie share market declined 0.2%, which means the market is now tracking 1.8% lower this week.Looking at the sector performances, the market was mixed. Notably, the real estate sector fell 1.5%, its lowest level in almost two months as investors began to factor in higher borrowing costs for property companies with interest rates rising. The best performers included HUB24 (ASX:HUB), Orora (ASX:ORA) and Virgin Money UK (ASX:VUK), all closing over 3% higher. While on the flip side, AVZ Minerals (ASX:AVZ) fell 19% after news that the company threatened legal action against a transfer of shares in Dathcom (which is a company AVZ holds a large stake in). Also declining yesterday were tech shares like Zip (ASX:ZIP), NOVONIX (ASX:NVX) and Tyro Payments (ASX:TYR).The most traded stocks by Bell Direct clients yesterday included Flight Centre (ASX:FLT), Commonwealth Bank (ASX:CBA) and Firefinch (ASX:FFX).It was a big trading session over in the US. The Dow and S&P500 saw their biggest daily gains since 2020. The Dow rose more than 900 points, the S&P500 was up nearly 3% and the Nasdaq lifted an impressive 3.2%. As expected, the central bank announced a 50 basis point increase, or 0.5% increase in the benchmark interest rate, its biggest rate increase since 2000. And the Fed noted that it would also start reducing its balance sheet in June.What to watch today:The SPI futures are suggesting the market is set to open 0.43% higher.Reporting wise, National Australia Bank (ASX:NAB) is one to watch today, as the banking giant has released its half-year results this morning. Other companies releasing results today include Eclipx Group (ASX:ECX) and Virgin Money UK (ASX:VUK).Economic news wise, Australia’s balance of trade for March will be released today. That’s the difference between what we export vs. what we import. Moving to commodities, the oil price jumped 5% as the European Union spelled out plans to phase out imports of Russian oil.  The gold price rose as both the US dollar and US Treasury yields fell following the Federal Reserve chairman Jerome Powell’s comments that inflation was too high, making bullion more appealing.  If you’re a shareholder of Gold Road Resources (ASX:GOR) or Arena REIT (ASX:ARF) you can expect to receive your dividend payment today. And Vita Group (ASX:VTG) is set to go ex-dividend today.Iress (ASX:IRE), Rio Tinto (ASX:RIO) and QBE Insurance Group (ASX:QBE) are holding their AGMs today.Trading Ideas:Citi have maintained its Buy rating on ARB Corp (ASX:ARB) however with a reduced price target, from $48.15 to $46.63. At its current share price $33.61, this implies about 39% share price growth in a year. Trading Central has a bearish signal on Shaver Shop Group (ASX:SSG) indicating that the stock price may fall from the close of $1.11 to the range of $0.76 - $0.82 in the next 369 days according to standard principals of technical analysis.  

Yesterday the market finished lower for the second straight trading session, down 0.4% or around 30 points. The market was steady yesterday while awaiting the RBA’s interest rate decision. And the central bank raised the cash rate by 25 basis points to 0.35%. The market was waiting to see whether rates would be lifted or if the RBA would hold off for another month, however it was wildly expected that the RBA would lift the cash rate by 15 basis points, so the rise of 25 basis points was greater than market consensus, and it is also the first rate hike in 11 years. Now, inflation has been rising at its fastest pace in 20 years, so the RBA believes it’s an appropriate time to begin the process of normalising monetary conditions, flagging that there is also evidence that wage growth is picking up. Following the announcement, the market had an almost instant reaction, dropping significantly, however the market then lifted again about 30 minutes after the announcement. Sectors wise, real estate took the biggest hit yesterday, while tech gained the most. These are the two sectors however, that are more likely to pull back, with the cash rate hike. Looking at the ASX200 leaderboard, Magellan Financial Group (ASX:MFG) was the best performer, gaining 5% after reports that Nikki Thomas, formally a fund manager at MFG, is likely to permanently replace Hamish Douglas as CIO. And the company’s new chief executive is expected to be appointed next month. Tech stocks were also higher yesterday with Zip (ASX:ZIP), Appen (ASX:APX) and Block (ASX:SQ2) taking the lead. The most traded stocks by Bell Direct clients yesterday included Westpac (ASX:WBC), Scentre Group (ASX:SCG), Pilbara Minerals (ASX:PLS) and Australia and New Zealand Banking Group (ASX:ANZ). Overseas, European markets finished higher, after closing lower a day earlier, after a sudden “flash crash” in the Sweden’s Stockholm OMX 30 index, which fell 8% at one point, before rising again and regaining most of those losses. There was also weak economic data from China and Germany, however European markets still closed in the green. US equities also closed higher, ahead of the Federal Reserve’s policy decision tonight. It is widely expected that the Fed will tonight raise rates by 50 basis points. The Dow Jones closed up 0.2%, the S&P500 up 0.5% and the Nasdaq up 0.2%. What to watch today:In line with New York, the SPI futures are suggesting the Australian market will rise 0.59% at the open this morning. In commodities, oil is trading lower, with a potential ban on Russian oil from the EU. Germany has said they’re willing to support an immediate embargo on Russian oil, as the EU say they plan to tighten sanctions against Russia. Meanwhile the price of gold is higher, while seaborne iron ore is trading flat.Watch out for Koba Resources (ASX:KOB) as it lists on the ASX today. Also keep watch of ANZ, the bank is set to release its half-year results this morning. Keep watch of AGL Energy (ASX:AGL) share price movements. Yesterday, tech billionaire Mike Cannon-Brookes acquired an 11% stake in AGL, becoming its largest shareholder. He aims to stop AGL from burning coal, saying he’ll vote against the demerger with Accel Energy. Trading Ideas:Bell Potter maintain their Buy rating on Select Harvests (ASX:SHV) after the company provided updated guidance parameters for FY22. Bell Potter have increased their price target from $6.60 to $7.40. SHV last closed at $6.20, implying 19.4% share price growth in a year. Trading Central have identified a bearish signal in Motorcycle Holdings (ASX:MTO), indicating that the stock price may fall from the close of $2.78 to the range of $2.66 to $2.68, over 21 days, according to the standard principles of technical analysis. 

Yesterday, the Aussie share market experienced a broad sell off, with the benchmark ASX200 index falling 1.2% to 7,347 points. Sectors wise, all sectors were in the red. The hardest hit sectors were the tech, real estate, and communication services sectors, which all fell more than 2%.Looking at the ASX200 leaderboard, corporate bookmaker, PointsBet (ASX:PBH) led the way, advancing 5.7%, after Goldman Sachs retained its buy rating on the stock, with a $5.78 price target. That’s an 80% premium to its current share price. Also performing well were travel stocks Qantas (ASX:QAN), Flight Centre (ASX:FLT) and Webjet (ASX:WEB), which was likely due to Qantas’ trading update, which revealed that domestic travel numbers are rebounding faster than expected. On the other end, Imugene (ASX:IMU) was the worst performing stock, down 13.6% after the biotech company scraped its supply agreement with MSD, which is a tradename of Merck & Co.The most traded stocks by Bell Direct clients yesterday included the Vanguard Australian Shares Index ETF (ASX:VAS), Lake Resources (ASX:LKE) and Pilbara Minerals (ASX:PLS).On Wall Street, the benchmarks started the new trading week lower, however by the late afternoon, the Dow, S&P500 and Nasdaq all managed to stage a late comeback to close in positive territory. Volatility in the bond market likely contributed to the swings in stocks. When the 10-year Treasury yield broke through 3%, which it hasn’t done since November 2018, this signalled that the bond market selloff had hit its peak and most likely wouldn’t continue until we get beyond the Fed’s update on Wednesday. What to watch today:Despite the positive close in the US, if you go by the SPI futures, the Aussie share market is set to open 0.34% lower this morning.  Economic news wise, all eyes will be on the RBA. The Reserve Bank is widely expected to announce a 15 basis point rate increase when it releases a post-policy meeting statement at 2.30pm AEST.All eyes will also be on Woolworths (ASX:WOW) as the retail giant is set to release its third quarter sales update. In commodities, the oil price reversed its losses, to trade slightly higher, around US$105 a barrel. This was off the back of fears that supply might be impacted by a potential European Union ban on Russian crude. The gold price slumped more than 2%, as increased prospects of faster rate hikes by the Fed Reserve lifted both US Treasury yields and the US dollar. And the spot iron ore price is trading nearly 3% higher at US$142 a tonne.There are two new companies debuting on the Aussie share market today. Firstly, share advisory services company, Equity Story Group. It will be trading under the ticker code EQS. And secondly, gold, silver and copper exploration company, Sierra Nevada Gold. Its ticker code SNX.If you’re a shareholder of Brickworks (ASX:BKW), you can expect to receive your dividend payment today.Both Santos (ASX:STO) and TPG Telecom (ASX:TPG) are holding their AGMs today.Trading Ideas:Bell Potter have maintained its Speculative Buy rating on PointsBet (ASX:PBH) with a slightly reduced valuation, from $7.50 to $6. At its current share price of $3.17, this implies 89% share price growth in a year. Trading Central has a bearish signal on Michael Hill (ASX:MHJ) indicating that the stock price may fall from the close of $1.10 to the range of $0.56 - $0.66 in the next 142 days according to standard principals of technical analysis.  

Week-to-date the ASX200 closed 0.5% in the red, however on Friday the market rebounded, recovering from the broad sell-off earlier in the week, and closing over 1% higher.All industry sectors posted gains. Although the tech sector declined the most overall last week, on Friday tech regained some of those losses, and was the best performing sector, managing to lift 2.25% at the close. That was following the tech rally on Wall Street and tech stocks like Zip (ASX:ZIP), Tyro Payments (ASX:TYR), Life360 (ASX:360), Codan (ASX:CDA) and EML Payments (ASX:EML) all advancing. The top performer on Friday was PointsBet Holdings (ASX:PBH), which lifted 10.7% after reporting a 54% increase in turnover. And Goldman Sachs have retained their buy rating on PBH with a $5.78 price target, so keep watch of its share price today. Meanwhile, the worst performing stocks were Dominos (ASX:DMP), ResMed (ASX:RMD) and Pro Medicus (ASX:PME). The most traded stocks by Bell Direct clients on Friday, were Aristocrat Leisure (ASX:ALL), Mount Gibson Iron (ASX:MGX) and the Vaneck Emerging Income Opportunities ETF (ASX:EBND).In global markets, European stocks closed higher after a busy day of earnings results. Meanwhile, Eurozone inflation hit a record high in April, for the sixth month in a row. Annual inflation in Europe reached 7.5%, while GDP grew 5% year-on-year. So, investors are now waiting to see how the European Central Bank will react. Over in the US, there was a broad sell-off on Wall Street, with all three major benchmarks falling. This follows a number of headwinds, including the Fed’s monetary tightening, rising inflation and interest rates, the ongoing concerns around the Ukraine war, and COVID cases in China, which continue to rise – these factors have all played a part. The Dow Jones tumbled more than 900 points, closing 2.8% lower. The S&P500 dropped 3.6%, and the Nasdaq closed more than 4% lower, finishing April with its worst monthly performance since October 2008, down approximately 13% in April overall. What to watch today:Following US equities, the SPI futures are suggesting the local market will fall 1.27% at the open this morning. In economic data, ANZ’s data on job advertisements for April will be released today. And today investors will be trading cautiously, with the expectation of an interest rate hike tomorrow when the RBA meets. In commodities, oil prices are trading lower, amid supply disruptions and the demand slowdown in China. So watch stocks such as Santos (ASX:STO) and Woodside Petroleum (ASX:WPL). Also today watch gold mining stocks, such as Northern Star Resources (ASX:NST) and Newcrest Mining (ASX:NCM), as the gold price is trading higher. Meanwhile, seaborne iron ore has fallen, trading around US$150 a tonne. New listings on the ASX today include Sarama Resources (ASX:SRR) and Solstice Minerals (ASX:SLS). Trading Ideas:Bell Potter maintain a BUY rating on Nitro Software (ASX:NTO), and have lowered their price target from $2.75 to $2.50. NTO last closed at $1.37, implying 82.5% share price growth in a year. Trading Central have identified a bullish signal in Firefinch (ASX:FFX), indicating that the stock price may rise from the close of $1.12 to the range of $1.43 to $1.51, over 18 days according to the standard principles of technical analysis. 

The Aussie share market declined 1.6% this week (Mon-Thu), with nearly all industry sectors trading in the red.In this week’s wrap, Sophia covers:(0:11) How the inflation rate impacts the share market(1:09) What happens when the RBA lifts the interest rate(3:29) City Chic Collective (ASX:CCX) rising after strong sales growth(4:00) Why EML Payments (ASX:EML) fell a massive 44%(4:18) The most traded stocks by Bell Direct clients(4:45) Two economic news items to watch out for

Yesterday, the ASX200 lost 56 points or 0.8% to close at 7,261 points. Aussie investors digested the latest inflation reading, which came in at 5.1%, that’s the highest reading since the introduction of the goods and services tax (GST) in the early 2000s. The jump in consumer prices reflected soaring fuel prices as well as surging building costs. The higher than expected increase has compelled economists to bring forward their expectation for the RBA’s imminent interest rate rise, from June to next Tuesday’s meeting.Moving to the sector performances, the majority of the market closed in the red, with the tech sector down the most, taking a strong lead from the Nasdaq’s big tech sell off. Looking at the ASX200 leaderboard, Life360 (ASX:360) took a bit of a tumble, falling 29% after the tech platform abandoned its plans to list in the US. Whitehaven Coal (ASX:WHC) was the best performer, benefiting from the rising coal price.    The most traded stocks by Bell Direct clients yesterday were Syrah Resources (ASX:SYR), Mount Gibson Iron (ASX:MGX) and Bank of Queensland (ASX:BOQ).Moving to the US, the three benchmarks struggled to find direction, with the market closing mostly higher. Both the Dow and S&P500 closed about 0.2% higher, while the Nasdaq closed flat at its 2022 low of 12,489 points. In terms of company results, Microsoft and Visa jumped higher after strong earnings reports. While, Alphabet and Boeing posted losses after their results missed consensus estimates.What to watch today:The Aussie share market is set to open 0.7% higher this morning, going by the SPI futures.  Medical device company, Cochlear (ASX:COH) will be on watch today, following news that it has agreed to pay $170m to acquire Oticon Medical. Keep in mind that while this acquisition is expected to add anywhere from $75m to $80m to annual revenue, the company is currently loss making. Watch Coles Group (ASX:COL) today, as it’s set to release its quarterly results today. Economic news wise, investors will digest the latest import and export prices for quarter one.In commodities, the oil price treaded between gains and losses as the US dollar soared, while the gold price fell to a two-month low. And the spot iron ore price is trading flat at US$137 a tonne.Scaffold and formwork supplier, Acrow Formwork and Construction Services (ASX:ACF) is set to go ex-dividend today. Trading Ideas:Bell Potter have maintained its BUY rating on Australian agricultural chemical company, Nufarm (ASX:NUF) and have increased its price target from $6.40 to $7.85. At its current share price of $6.59, this implies 20% share price growth in a year.Trading Central has a bullish signal on BNPL company, Splitit Payments (ASX:SPT) indicating that the stock price may rise from the close of $0.21 to the range of $0.24 - $0.26 in the next 40 days according to standard principals of technical analysis.  

Yesterday, the local market yesterday was trading in negative territory, ignoring the positive lead from Wall Street and closing with a loss of 2% or 155 points.There is a lot of focus recently on the impact that the lockdowns in China will have on the demand outlook of commodities, which weighed down on the market. The materials sector suffered the greatest loss, shedding more than 5%, following a decline in commodity prices. A drop in oil prices also saw energy shares also suffer heavy losses, with the sector closing 4% lower. And all 11 industry sectors closed in the red. Mining shares accounted for most of the worst performers, however the stock that declined the most was EML Payments (ASX:EML), which dropped 38.6% after cutting its EBITDA guidance by 8%, revenue guidance by 4% and profit guidance by 6.6%. Meanwhile, stocks that managed to post gains included Virgin Money (ASX:VUK), Block (ASX:SQ2) and Nufarm (ASX:NUF). The most traded stocks by Bell Direct clients yesterday included BHP Group (ASX:BHP), the Vanguard Australian Shares ETF (ASX:VAS), Lake Resources (ASX:LKE), Bank of Queensland (ASX:BOQ) and Northern Star Resources (ASX:NST).There was broad selling in New York, with 10 of the 11 S&P500 industry sectors closing lower, while higher oil prices lifted energy shares. A big tech-sell off saw the Nasdaq hit a fresh 52- week low, closing 4% lower and retreating further into bear market territory. The Dow Jones closed 2.4% lower and the S&P500 closed 2.8% lower.What to watch today:The Australian share market is set to extend losses. The SPI futures are suggesting a sharp drop of 1.47% or 107 points at the open this morning.In economic data, today we’ll receive a key update on inflation. The inflation rate will be released at 11:30am AEST, and this rate measures the change in prices of goods and services for consumers. So, this will give us an indication of consumer price pressures and will also determine expectations for rate rises. Inflation is expected to lift above the RBA’s 2-3% target range for the first time since 2010, which is the last time rates rose. In commodities, oil prices have lifted as China’s central bank pledged to increase support for their economy. Iron ore prices are in the red, while gold is trading higher, following a slight pullback in the US dollar and lower Treasury yields. Trading Ideas:Bell Potter maintain their Buy rating on Mineral Resources (ASX:MIN) with a $70 price target. Mineral Resources last closed at $54.67, implying 28% share price growth in a year. Trading Central have identified a bullish signal in AUB Group (ASX:AUB), indicating that the stock price may rise from the close of $22.90 to the range of $24.70 - $25.10 over 16 days, according to the standard principles of technical analysis. 

The local market took a bit of a hit in Friday’s trading session, falling 1.6%. That’s the biggest fall we’ve seen in over two months, and this followed Federal Reserve chairman Jerome Powell indicating that US interest rates are poised to rise higher and faster.Sectors wise, all sectors came under pressure, in particular the materials and tech sectors, which both fell over 2.5%. The healthcare sector however provided the market with some relief, rising 0.5%.Looking at the ASX200 leaderboard, hospitality and liquor group company, Endeavour Group (ASX:EDV) was the biggest gainer, lifting 1.7%, and CSL rose 1.5% after announcing a new $US4 billion debt raising to help fund its $16.4 billion acquisition of Vifor Pharma. Meanwhile, the worst performers were Megaport (ASX:MP1), Paladin Energy (ASX:PDN) and Pointsbet (ASX:PBH).The most traded stocks by Bell Direct clients last Friday included BHP Group (ASX:BHP), Lake Resources (ASX:LKE) and the BetaShares Geared Australian Equity Fund ETF (ASX:GEAR).Moving to the US, all three benchmarks closed in the green. The Dow managed to erase its 500-point intraday loss to close 200 points higher. This follows big tech names like Microsoft, Alphabet and Meta rallying in the afternoon. Twitter also soared after its board accepted Tesla CEO Elon Musk’s offer to take it private. What to watch today:Despite the positive session in the US, if you go by the SPI futures, the Aussie share market is set to open 0.3% lower this morning.  In commodities, the growing worries about global energy demand due to the prolonged lockdowns in Shanghai saw the WTI Crude oil price fall below US$100 a barrel. The gold price also dropped, as the potential for aggressive policy tightening by the US Fed weighed down on the haven’s appeal. The same can be said for uranium, which is trading over 8% lower. And the spot iron ore price is trading 0.7% lower at US$145 a tonne.Australian lithium exploration company, Lithium Plus Minerals will be debuting on the Aussie share market today. It will be trading under the ticker code LPM.If you’re a shareholder in global tech company, Adacel Technologies (ASX:ADA), you can expect to receive your dividend payment today. Trading Ideas: Bell Potter have maintained its BUY rating on coal mining company, Bathurst Resources (ASX:BRL) and have increased its price target from $1.25 to $1.63. At its current share price of $1.12, this implies 45% share price growth in a year.Trading Central has a bearish signal on South32 (ASX:S32), indicating that the stock price may fall from the close of $4.84 to the range of $4.45 - $4.53 in the next 24 days according to standard principals of technical analysis.  

The Aussie share market advanced 0.9% this week (Mon-Thu). Most industry sectors posted gains, except for the tech and materials sectors which came under pressure.In this week’s wrap, Sophia covers:(0:56) Why Ramsay Health Care (ASX:RHC) gained 29%(2:32) Megaport (ASX:MP1) falling after disappointing results(2:51) The top stocks in the All Ords this week(3:35) The most traded stocks by Bell Direct clients(3:52) Two stocks to consider if you're buying the dip(5:41) Three economic news items to watch out for

The local market advanced slightly higher yesterday, up 0.1% to 7,569 points, just 0.8% off reaching its record high. Sectors wise, the healthcare sector led the market, boosted by a sizeable jump in Ramsay Health Care (ASX:RHC)’s share price. RHC, the second largest Australian-listed health company lifted an impressive 24% to $80 per share, after receiving a takeover proposal from private equity company, KKR. On the flip side, investment platform, HUB24 (ASX:HUB) fell the most, down 6.5% following some brokers responding to the company’s latest quarterly update, with a few trimming their price targets. The most traded stocks by Bell Direct clients yesterday included Westpac (ASX:WBC), Lake Resources (ASX:LKE) and Ramsay Health Care (ASX:RHC). The US market was divided. The Dow managed to gain about 250 points, off the back of strong results from Procter & Gamble, while the Nasdaq was dragged down by Netflix’s disappointing results, where it saw its first subscriber loss in more than 10 years. As well as company results, investors were keeping a close eye on the 10-year Treasury yield which retreated on Wednesday.What to watch today:Despite the mixed session in the US, if you go by the SPI futures, the Aussie share market is set to open 0.40% higher this morning.  Keep an eye on BNPL stock Zip (ASX:Z1P), the company will be releasing its third quarter update this morning. And as at the start of today’s trading session, Zip’s ticker code will change from Z1P to ZIP. Other companies set to release results today include BHP Group (ASX:BHP), Brambles (ASX:BXB), Challenger (ASX:CGF), Evolution Mining (ASX:EVN), Stockland (ASX:SGP) and Santos (ASX:STO).In commodities, the oil price rebounded following a drop in US oil inventories and concerns over tight supplies. The gold price traded slightly higher at US$1,957 an ounce. While the spot iron ore price is trading 2.7% lower at US$146 a tonne.There are two new companies debuting on the Aussie share market today. Firstly, Australian battery metals exploration company, Pure Minerals, its ticker code is PR1. And secondly, Perth-based crop nutrition company RLF AgTech, which will be trading under the ticker code RLF.There are also a few companies paying their dividends today. These include Lovisa (ASX:LOV), Rio Tinto (ASX:RIO), Cochlear (ASX:COH) and Austal (ASX:ASB).Lastly, capital market company, Plato Income Maximiser (ASX:PL8) and MFF Capital Investments (ASX:MFF) are set to go ex-dividend today.Trading Ideas:Bell Potter have maintained its BUY rating on chemical manufacturing company, DGL Group (ASX:DGL) and have increased its price target from $3.50 to $4.30. DGL continues to validate its chemicals logistics vertical and despite record seasonal tailwinds, Bell Potter believe the company has several levers to grow earnings in financial year 2023. Trading Central has a bearish signal on Rio Tinto (ASX:RIO), indicating that the stock price may fall from the close of $118.30 to the range of $95 - $100 in the next 32 days according to standard principals of technical analysis. 

Stocks rallied in yesterday’s session, with energy and materials pulling the market higher. The ASX200 closed 0.6% higher amid strong commodity prices, including the price of iron ore, with hopes of additional stimulus from China, a top importer, now that China is seeing risks of an economic slowdown following its COVID-19 lockdowns. The big miners and energy stocks gained yesterday, rising higher with the increase in oil prices, as outages in Libya deepened concern over tight global supply. Financials were up 0.9%, with the major four banks all in the green. Gold stocks also aided sentiment, extending gains into a seventh session. The top performing stock yesterday was biotech company Imugene (ASX:IMU), followed by Cleanaway Waste Management (ASX:CWY), which hit a new 52-week high yesterday. The most traded stocks by Bell Direct clients yesterday were the Bank of Queensland (ASX:BOQ), Macquarie Group (ASX:MQG), Core Lithium (ASX:CXO) and BHP Group (ASX:BHP). European stocks closed lower on Tuesday as investors’ attention was focused on the latest developments in the Russia-Ukraine war. US equities closed higher, with all three major benchmarks in the green. The Dow closed 1.5% higher or up almost 500 points, the S&P500 rose 1.6%, and tech rallied with the Nasdaq closing 2.2% higher. However, this morning the Nasdaq futures for today have fallen, after Netflix shares dropped 25% in extended trading after disappointing results, reporting a loss of 200,000 subscribers in the first quarter. What to watch today:The Aussie share market is set to rise 0.62% at the open, according to the SPI futures. Keep watch of Rio Tinto (ASX:RIO) and Beach Energy (ASX:BPT). Both companies will release their quarterly production reports today. Watch Ramsay Health Care (ASX:RHC), as the private hospital operator has received a takeover approach from private equity company KKR. It’s a non-binding offer of $88 per share to acquire the company, so this bid is at a 37% premium to where RHC shares last traded, and it values the company at over $20 billion. In commodities, oil has dropped overnight, trading almost 6% lower at around US$102 per barrel, ending a four-day winning streak, following concerns of falling demand despite the tight supply. So watch energy stocks today. The price of gold also dropped overnight, as a strong US dollar and soaring treasury yields have worried investors. So gold miners may come under pressure today, including stocks such as Evolution Mining and Northern Star Resources. Meanwhile the iron ore price is flat. Trading Ideas:Bell Potter maintain its Buy rating on Life360 (ASX:360), a market leading app for families. Their price target remains unchanged at $10. 360 last closed at $5.37, implying 86.2% share price growth in a year. Trading Central have identified a bullish signal in QBE Insurance (ASX:QBE), indicating that the stock price may rise from the close of $12.26 to the range of $13.80 to $14.20, over 29 days, according to the standards principles of technical analysis. 

The local market advanced 0.6%, with nearly all sectors posting gains. The materials sector led the way, up an impressive 1.3%, while the financial sector was the only sector to post a loss.Looking at the ASX200 leaderboard, travel stocks soared. Qantas (ASX:QAN) lifted 7%, its best performance since November 2020, as investors showed renewed confidence for this beaten down sector of the market. Meanwhile, the worst performer was Bank of Queensland (ASX:BOQ), down 6.3%, after the company reported results that disappointed the market and included cautions about a squeeze on margins. The most traded stocks by Bell Direct clients last Thursday, they included Uniti Group (ASX:UWL), NAB (ASX:NAB) and Lake Resources (ASX:LKE).Moving to the US, well it’s a big week of earnings for the market. Some big names reporting this week include Tesla, Netflix, United Airlines, Procter and Gamble, Johnson & Johnson, and American Express. On Monday however, all three benchmarks closed slightly lower with rising commodity prices heightening concerns about inflation. The 10-year Treasury yield also reached its highest level since late 2018, at one point trading at 2.8%.What to watch today:Despite the US market slightly falling, the futures are suggesting that the Aussie market is set to open 0.13% higher this morning.  In commodities, the oil price rose off the back of outages in Libya deepening concerns over tight supplies. The gold price hit a one-month high on Monday, nearly reaching the $2,000 an ounce level, as concerns around the Russia-Ukraine conflict and rising inflationary pressure increased the appeal of the safe-haven asset. And the spot iron ore price is trading 2% higher at US$150 a tonne.In economic news, the RBA will release its meeting minutes for April. The RBA noted that Australia's inflation has increased, and a further increase was expected, however, the board said it wanted to see actual evidence that the price level is sustainably within the 2 to 3% target range before it considers increasing interest rates.Chartered accounting network company, Kelly Partners Group (ASX:KPG) is set to go ex-dividend today.Trading Ideas:Bell Potter have maintained its BUY rating on Allkem (ASX:AKE) with a trimmed price target, from $18.05 to $17.53. AKE’s current share price is $13.52 so this implies about 30% share price growth in a year. Trading Central has a bullish signal on drilling services company, DDH1 (ASX:DDH), indicating that the stock price may rise from the close of $1.07 to the range of $1.13 - $1.15 in the next 40 days according to standard principals of technical analysis. 

Yesterday, the consumer confidence index fell by 0.9% month-on-month in April, down for the fifth straight month, and this follows inflation rising and prospects of higher interest rates, which has dampened sentiment further. The Aussie share market gained 0.34% with all sectors in the green, except the real estate, tech, and communication services sectors. Looking at the ASX200 leaderboard, AVZ Minerals (ASX:AVZ) topped the list, gaining 11.7% after the company received a positive technical opinion from the Department of Mines. This was the fourth and final requirement for a mining licence, meaning the company may soon be awarded a mining licence for its flagship project. And on the other end, cement and lime producer, Adbri (ASX:ABR) fell 4%. Morgan Stanley hold a pessimistic view on the stock due to adverse weather and higher energy costs. The most traded stocks by Bell Direct clients yesterday included Lake Resources (ASX:LKE), Stockland (ASX:SGP) and Regis Resources (ASX:RRL).Moving to the US, all three benchmarks closed in the green, with the Nasdaq and S&P500 snapping their respective three-day losing streaks. Stocks rallied, despite surging inflation numbers, as corporate earnings season kicked off.What to watch today:Following the positive session in the US, the futures are suggesting that the Aussie market is set to open 0.23% higher this morning.  In commodities, the oil price continues to rise, up over 3% to US$104. This comes as investors become more discouraged about the peace talks between Russia and Ukraine, further fuelling concerns about tight supplies. The gold price hit a one-month high as high inflation boosts its appeal. And the spot iron ore price is trading 2% higher at US$148 a tonne.In economic news, the unemployment rate will be released today at 11:30am AEST. As a reminder, the unemployment rate in February fell to 4%, which was only the third time in history that unemployment has fallen to that level. In the RBA’s statement on monetary policy in February, they noted that the unemployment rate is forecast to decline gradually over the forecast period, to 3.75% by the end of 2023. So, consensus is expecting March’s reading today to come in at 3.9%. Coal mining company, New Hope Corporation (ASX:NHC) and accounting services company Diverger (ASX:DVR) are set to go ex-dividend today.  Trading Ideas:Bell Potter have maintained its BUY rating on technology hardware and equipment company EROAD (ASX:ERD) however have reduced its price target from $5.95 to $5. ERD’s current share price is $2.71, so this implies 85% share price growth in a year. Trading Central has a bullish signal on Bapcor (ASX:BAP), indicating that the stock price may rise from the close of $6.46 to the range of $6.90-$7 in the next 10 days according to standard principals of technical analysis. 

All sectors were down yesterday as commodity prices weakened. Long term interest rates also continued to push higher. Weighing down on the market yesterday was NAB’s business confidence survey, which increased to a 5- month high, while business conditions saw the largest jump since June 2020. The rise in conditions were driven by a large increase in retail, finance, business and property. And labour costs hit a record high, further dampening sentiment. Meanwhile the 10-year government bond reached its highest level since 2015. The top performer was Regis Resources (ASX:RRL), boosted by the rise in the gold price, as well as a bullish broker note from Credit Suisse. Other gold miners also advanced, including St Barbara (ASX:SBM), Ramelius Resources (ASX:RMS), and Evolution Mining (ASX:EVN). Meanwhile, the healthcare sector declined 1.4% yesterday. Biotech company Imugene (ASX:IMU) was down the most. Bell Potter have a Speculative Buy rating on IMU. The most traded stocks by Bell Direct clients yesterday were Lake Resources (ASX:LKE), Fortescue Metals (ASX:FMG), Wesfarmers (ASX:WES), South32 (ASX:S32) and Pilbara Minerals (ASX:PLS). Overnight, the latest US inflation reading came in at its highest level since 1981. Consumer prices in March surged 8.5% from a year ago, higher than expected, and core CPI climbed 0.3% in March. The high inflation numbers raised expectations of tighter monetary policy from the Fed, which investors fear could slow the economy. The major benchmarks closed in the red. The Dow, S&P500 and Nasdaq down all down 0.3%. What to watch today:Following US equities, the SPI futures are suggesting the local market will slightly fall 0.09% at the open this morning. In commodities, the oil price has jumped almost 8%, following relief about demand in China after Shanghai eased some virus restrictions. Gold is also trading in the green, following the US inflation reading. Meanwhile seaborne iron ore is trading slightly lower. In economic data, consumer confidence data will be released today by Westpac at 10:30am AEST.Iluka Resources (ASX:ILU) will hold its AGM today.Trading Ideas:Bell Potter have maintained its Buy rating on capital market company, Pendal Group (ASX:PDL) but have reduced its price target from $7.48 to $6.80. This comes as the Pendal board has decided the proposal from Perpetual (PPT) is not in the best interests of shareholders, as it significantly undervalues the current and future value of the business. Now PDL closed 0.19% lower yesterday to $5.29, which implies about 29% share price growth in a year.Trading Central has a bearish signal on Santos (ASX:STO) indicating that the stock price may fall from the close of $8.00 to the range of $6.70 - $6.90 in the next 26 days according to standard principals of technical analysis.

The local market rose slightly higher yesterday, up 0.1%. Sectors wise, the market was mixed. The financials sector lifted 0.78% with all four of the big banks rising and NAB hitting a five-year high. While the tech sector was down 0.85%. On the ASX200 leaderboard, GrainCorp (ASX:GNC) was the best performer, jumping an impressive 6.8%. The company’s recent guidance upgrade resulted in Wilsons increasing its earnings expectations for the company. Regis Resources (ASX:RRL) also gained, off the back of a rise in the gold price and a bullish broker note out of Credit Suisse.  Meanwhile, the worst performing stocks included AVZ Minerals (ASX:AVZ) and PolyNovo (ASX:PNV). The a2 Milk Company (ASX:A2M) fell 5.4% after Credit Suisse trimmed its earnings estimates and valuation in response to the lockdowns in China and lower birth rate assumptions.The most traded stocks by Bell Direct clients yesterday included uranium producer Boss Energy (ASX:BOE), Ardent Leisure Group (ASX:ALG) and Zeotech (ASX:ZEO), which closed 6.4% higher.Moving to the US, all three benchmarks closed in the red. The Nasdaq falling over 2% as tech shares slumped off the back of higher rate fears. The Dow closed more than 400 points lower and the S&P500 was down 1.7%. What to watch today: ·       Following the negative session in the US, the futures are suggesting that the Aussie share market is set to open 0.29% lower this morning.  ·       In commodities, the oil price slid about 4% to US$94.29 a barrel, its lowest level since February, as lockdowns in China continue to spark demand fears. The gold price was steady, trading slightly higher. Remember, while gold is considered a hedge against inflation, rate hikes increase the opportunity cost of holding the non-yielding bullion. And the seaborne iron ore price is trading at US$156 a tonne.·       In economic news, business confidence for March will be released today. As a reminder, business confidence surged to 13 in February, which was the highest reading in four months, amid a decline in cases of the Omicron variant. Today’s reading for March is expected to come in lower. Stay tuned at 11:30am AEST. ·       Seven Group Holdings (ASX:SVW) is set to go ex-dividend today.  Trading Ideas: ·       Bell Potter have maintained its BUY rating on healthcare equipment and services company Pro Medicus (ASX:PME) with a price target of $55. PME announced its latest contract win in the US with the signing of Inova Health. It’s an 8-year deal generating minimum revenues of $32m. The deal increases contracted revenues to at least A$386m over 5 years. Now PME closed 1.1% higher yesterday to $48.50, which implies about 13% share price growth in a year. ·       Trading Central has a bullish signal on Genesis Minerals (ASX:GMD), indicating that the stock price may rise from the close of $1.95 to the range of $2.32 - $2.42 in the next 63 days according to standard principals of technical analysis. 

The ASX200 posted a small loss of 0.2% for the week, however on Friday the market gained 0.5%. Materials advanced the most, the sector closing with a 1.6% gain, as the major mining stocks rose despite a drop in the price of iron ore. It was a positive trading session overall with 7 of the 11 industry sectors in the green. The major banks were mixed, with CBA and ANZ higher, while NAB closed flat and Westpac closed slightly lower. And real estate, tech, healthcare and the consumer discretionary sector, ended the day with small losses. Paladin Energy (ASX:PDN) jumped more than 13%. PDN is a uranium production company and its share price was boosted on Friday by a jump in the price of uranium. The commodity price rose to its highest level since the Fukushima nuclear disaster in March 2011, and that’s at $60.61 a pound. Meanwhile, Platinum Asset Management (ASX:PTM) led the declines on Friday, dropping 15%, down to $1.90, after the company reported that funds under management dropped $1.5 billion, and also reported negative returns across almost all of its funds for the year. The most traded stocks by Bell Direct clients on Friday were Westpac (ASX:WBC), Finder Energy Holdings (ASX:FDR), Lake Resources (ASX:LKE) and Platinum Asset Management (ASX:PTM).European markets ended a volatile week of trading in the green. While US stocks posted weekly losses after the Federal Reserve commented on tighter monetary policy, signalling it will act even more aggressively to fight inflation. The major benchmarks closed mixed. The Dow Jones climbed 100 points on Friday, up 0.4%, while the S&P500 closed 0.3% lower. The Nasdaq fell 1.3%, as tech stocks led the session’s losses. Tech stocks are viewed as risky due to their sensitivity to interest rates. Higher interest rates could limit future profit growth among the tech sector and therefore shares were sold on Friday. What to watch today:The local market is set to rise 0.36% at the open this morning, if you’re going by the SPI futures. Oil prices are trading higher, however there are demand concerns for China, a top importer. Gold is trading higher as well, as the Federal Reserve’s aggressive tightening plans countered inflation concerns intensified by the Ukraine war and mounting sanctions on Russia. Iron ore is trading lower, however investors are expecting strong restocking demand in China once COVID-19 restrictions ease. Lockdowns in some of the top steel making cities have led to transportation disruptions, with most producers cutting production amid material shortages. Brickworks (ASX:BKW) is set to go ex-dividend today. Trading Ideas:Citi maintain its Buy rating on Aristocrat Leisure (ASX:ALL), with a $44 price target. Citi expects acquisitional growth into the US$15 million iGaming market to be likely following legalisation, and Citi also note that the core social casino business offers 16% compound annual earnings growth through to FY24. Trading Central have identified a bullish signal in Boss Energy (ASX:BOE), indicating that the stock price may rise from the close of $2.58 to the range of $3.10 to $3.25, over 26 days, according to the standard principles of technical analysis. 

The Aussie share market declined 0.7% this week (Mon-Thu). The utilities sector outperformed, while the tech sector and consumer discretionary sector came under pressure. In this week’s wrap, Sophia covers:(0:25 ) What happened in global markets in Q1(2:26) Why it's worth considering nickel(3:52) What to think about when interest rates rise(5:04) Pendal (ASX:PDL) lifting 18% after receiving a takeover offer(5:37) The most traded stocks by Bell Direct clients(5:57) Three economic news items to watch out for

The local market declined 0.5% yesterday, weighed down by the tech sector as Aussie tech shares followed the US Nasdaq led, and took a tumble.Sectors wise, only the financials and consumer staples sectors managed to close in the green. The gains for the banks were partly due to the increase in interest rate expectations following the RBA’s monetary policy statement on Tuesday. Looking at the ASX200 leaderboard, healthcare company, PolyNovo (ASX:PNV) performed well, lifting 4.6% after the business revealed its strong March quarter results. The company delivered a 60% increase in revenue compared with the same period last year. Travel stocks also were amongst the best performers, including Flight Centre (ASX:FLT) and Corporate Travel Management (ASX:CTD) as the sector continues to benefit from the removal of restrictions around the world. Meanwhile, stocks that took a hit yesterday included tech shares NOVONIX (ASX:NVX) and Block (ASX:SQ2), as well as AVZ Minerals (ASX:AVZ).The most traded stocks by Bell Direct clients yesterday included mineral company, Andromeda Metals (ASX:ADN), Champion Iron (ASX:CIA) and Vanguard Australian Shares ETF (ASX:VAS). Moving to the US, all three benchmarks closed in the red for the second day. This comes as the US Federal Reserve gave more insight on its plans to tighten monetary policy to fight inflation. Central bank officials are considering larger rate hikes than the usual 25-basis-points. And across the sea, European markets closed lower off the back of the Fed’s hawkish comments and as investors await details of fresh international sanctions against Russia. What to watch today:·         Following the negative session in the US, the futures are suggesting that the Aussie share market is set to open 0.28% lower this morning.  ·         In commodities, the oil price has sunk 5% following the International Energy Agency (IEA), releasing 120 million barrels from strategic reserves. The gold price on the other hand was steady, trading at US$1,925 an ounce. And the spot iron ore price continues to trade flat at US$154 a tonne.·         In economic news, balance of trade data for February will be released today. Australia's trade surplus increased to $12.89 billion in January 2022. Today’s reading for February is expected to come in a bit lower at $12 billion.·         Scentre Group (ASX:SCG) is holding its AGM today. Trading Ideas:·         Another stock that is benefiting from the strong market demand for lithium is Mineral Resources (ASX:MIN) and Bell Potter have maintained its BUY rating on the stock, lifting its price target from $61.35 to $74.35. This is due to MIN’s increase in lithium production plans. MIN plans to double spodumene processing capacity at Mount Marian lithium mine. Now MIN closed 1.1% higher yesterday to $60.35, which implies about 23% share price growth in a year. ·         Trading Central has a bullish signal on Steadfast Group (ASX:SDF), indicating that the stock price may rise from the close of $4.87 to the range of $5.30 - $5.40 in the next 14 days according to standard principals of technical analysis. 

The local market advanced 0.2% higher yesterday, losing some of its steam in the afternoon when the RBA suggested an interest rate rise could be imminent. While the cash rate was kept at its historic low of 0.1%, many economists believe there will be an increase later this year, some expecting it to come as early as June. The Government’s cost of living packages announced in the Federal Budget last week added further fuel to the fire that interest rates could rise. Sectors wise, all sectors were in the green, with the tech sector and energy sector gaining the most. The local tech sector took a strong lead from Wall Street, where the Nasdaq lifted nearly 2% higher on news that Elon Musk had acquired a 9.2% stake in Twitter. Meanwhile the materials, real estate and industrials sectors posted losses. Looking at the ASX200 leaderboard, tech names like Block (ASX:SQ2), NOVONIX (ASX:NVX), Xero (ASX:XRO) and Altium (ASX:AU) were amongst the best performers. Mineral Resources (ASX:MIN) jumped 5.7% after announcing it had agreed with its joint venture partners to increase production in its spodumene mines in WA, their response to the huge global customer demand for lithium. On the flipside, the worst performers yesterday included AVZ Minerals (ASX:AVZ), Liontown Resources (ASX:LTR) and Lynas Rare Earths (ASX:LYC).The most traded stocks by Bell Direct clients yesterday included Temple & Webster (ASX:TPW), Core Lithium (ASX:CXO) and NOVONIX (ASX:NVX). Moving to the US, all three benchmarks closed in the red, with the Nasdaq down the most. This comes as the US Federal Reserve indicated that the central bank could take a more aggressive approach to its tightening policy. This saw tech stocks decline, while sectors like utilities and healthcare pushed higher. Also, the Biden administration on Wednesday is set to announce additional sanctions targeting Russian financial institutions. What to watch today:Following the pullback in the US, the futures are suggesting that the Aussie share market is set to open 0.64% lower this morning.  In commodities, the oil price fell on worries that new COVID cases could slow demand. The gold price also fell following the Fed’s hawkish outlook which offset safe-haven demand. And the spot iron ore price is trading flat at US$154 a tonne.Keep watch of Coles (ASX:COL) today amid reports that Wesfarmers (ASX:WES) has sold a $500 million stake in the supermarket giant. Trading Ideas:Bell Potter have maintained its BUY rating on Allkem (ASX:AKE) and have a price target of $18.05. AKE closed 0.83% higher yesterday to $13.42, which implies about 35% share price growth in a year. Trading Central has a bullish signal on Temple & Webster (ASX:TPW), indicating that the stock price may rise from the close of $7.05 to the range of $8.10 - $8.40 in the next 32 days according to standard principals of technical analysis. 

 Investors played it safe yesterday and traded cautiously, following the news that Germany is pushing for discussions with the European Union to ban Russian gas imports. This may lead to energy rationing in Europe and would push prices higher. The market closed slightly higher yesterday, with utilities, materials and tech making the most gains. It was a profitable session again for mining stocks: BHP Group (ASX:BHP), Fortescue Metals (ASX:FMG) and Rio Tinto (ASX:RIO) were all in the green. And lithium miners such as Allkem (ASX:AKE), Mineral Resources (ASX:MIN), Liontown Resources (ASX:LTR) and Pilbara Minerals (ASX:PLS) were all higher. Gold miners also gained, even while the gold price was lower. Financials closed 0.3% lower yesterday, as the four major banks lost ground. While Magellan Financial Group (ASX:MFG) is finally picking back up again, yesterday reaching a 1-month high. Its shares lifted with help from the biggest mover on the ASX200 yesterday, investment manager Pendal Group (ASX:PDL), which rose 18% after receiving a $2.4 billion takeover bid from Perpetual. Perpetual’s share price however, declined the most yesterday. Iluka Resources (ASX:ILU), also gained following the approval of its $1.2 billion refinery in Eneabba in Western Australia, and this will be the first fully integrated, rare earths separation facility in Australia. The most traded stocks by Bell Direct clients yesterday included Commonwealth Bank (ASX:CBA), Core Lithium (ASX:CXO), Pilbara Minerals (ASX:PLS) and NOVONIX (ASX:NVX). Overnight, US equities were in the green. The Dow was up 0.3%, the S&P500 up 0.8%, while the Nasdaq rallied 1.9%. What to watch today:Off the back of a strong rally across global markets, the Australian market is set to rise 0.67% at the open this morning, according to the SPI futures. In economic data, at 2:30pm today (AEST), the RBA will announce its interest rate decision, which is expected to remain unchanged at 0.1%. In commodities, the oil price is trading more than 4% higher, with the possibility of more sanctions on Russia. Seaborne iron ore has extended its gain. And the gold price is also higher, following last week’s fall. Trading Ideas:Bell Potter maintain their Speculative Buy rating on De Grey Mining (ASX:DEG) and have lowered their valuation to $1.72. Bell Potter also have Hold rating on Gold Road Resources (ASX:GOR) with a $1.70 price target, and a Speculative Hold rating on DGO Gold (ASX:DGO) with a valuation of $4.37. Trading Central have identified a bullish signal in Black Rock Mining (ASX:BKT), indicating that the price may rise from the close of $0.27 to the range of $0.31 to $0.33, over 35 days, according to the standard principles of technical analysis. 

On Friday mining stocks made strong gains, with BHP Group (ASX:BHP) contributing the most, rising over 4%. The energy sector rebounded on Friday, however week-to-date, it was the worst performer as the price of oil declined further.Allkem (ASX:AKE) closed 8.5% higher, after reporting record pricing ahead of the June quarter. AKE’s gains also boosted other lithium miners, including Pilbara Minerals (ASX:PLS), Mineral Resources (ASX:MIN) and AVZ Minerals (ASX:AVZ).The most traded stocks by Bell Direct clients on Friday included VAS, the Vanguard Australian Shares ETF, Allkem (ASX:AKE), Core Lithium (ASX:CXO), Wesfarmers (ASX:WES) and Fortescue Metals (ASX:FMG).European and US equities began the second quarter on a positive note. All three US benchmarks closed higher. The Dow up more than 100 points or 0.4%, the S&P500 up 0.3% and the Nasdaq up 0.3%.What to watch today:The local market is set to rise 0.25% at the open this morning if you’re going by the SPI futures.In commodities, the oil price is trading lower as the lockdowns in China have caused demand concern, as well as news that the International Energy Agency have agreed to join the US in the largest release of oil reserves on record. The weekly loss was more than 13%, which was the largest weekly fall in 2-years. The US will release 1 million barrels per day for 6 months, starting in May.The gold price is also trading lower, after the US jobs report displayed a tight labour market, provoking expectations for a 50-basis point increase in the Fed funds rate in May, to tame inflation.Seaborne iron ore has jumped, trading 6% higher, just under US$160 a tonne, as iron ore futures on the Dalian Commodity Exchange were higher.Trading Ideas:Bell Potter maintain their BUY rating on Perpetual (ASX:PPT) and have lowered their price target on PPT from $44.30 to $42.80. PPT last closed at $34.23, implying 25% share price growth in a year. And Bell Potter see 30.3% upside over the next year, including the 5.3% yield.Trading Central have identified a bullish signal in Pilbara Minerals (ASX:PLS), indicating that the stock price may rise from the close of $3.43 to the range of $3.90 to $4.05, over 29 days, according to the standard principles of technical analysis.

The Aussie share market gained 1.3% this week (Mon-Thu), with all industry sectors advancing, apart from the energy sector.In this week’s wrap, Sophia covers:(0:10) Key insights from the Federal Budget(3:12) Why Life360 (ASX:360) & NOVONIX (ASX:NVX) rallied(3:55) 88 Energy (ASX:88E) crashing after disappointing results(4:16) The most traded stocks by Bell Direct clients(4:35) Four economic news items to watch out for

The local market pushed 0.67% higher yesterday, in what was a broad-based rally. Tech shares led the way, as well as some automotive companies that benefited from the Federal Budget, following the drop in the fuel excise. While the energy and materials sectors posted small losses.  Looking at the ASX200 leaderboard, tech names like Life360 (ASX:360), Megaport (ASX:MP1), Afterpay’s parent company Block (ASX:SQ2), NOVONIX (ASX:NVX) and Xero (ASX:XRO) were amongst the best performers. Magellan Financial Group (ASX:MFG) jumped 7%, despite funds continuing to flow out of the business. Meanwhile, South32 (ASX:S32) declined 3.5% after the company announced a delay to the acquisition of an additional shareholding in Mozal Aluminium.The most traded stocks by Bell Direct clients yesterday, they included Lake Resources (ASX:LKE), Mineral Resources (ASX:MIN) and Fortescue Metals (ASX:FMG). In the US, all three benchmarks closed in the red, with the Nasdaq down the most. Both the Dow and S&P500 snapped their 4-day winning streaks as investors remain cautious on Ukraine developments, as well as the bond market. What to watch today: Despite the pullback in the US, the futures are suggesting that the Aussie share market is set to open 0.13% higher this morning.  In commodities, the oil price rebounded, jumping 3% on tight supply and investor concerns about potential new Western sanctions against Russia. The gold price managed to gain off the back of a weaker US dollar and a slight pullback in US bond yields. The gold price is currently at US$1,934 an ounce. The aluminium, zinc, nickel, and palladium prices are all trading between 2.5 – 5% higher. And the spot iron ore price is trading flat at US$148 a tonne.Stocks going ex-dividend today include Eagers Automotive (ASX:APE) and Harvey Norman (ASX:HNV).Trading Ideas: Bell Potter have maintained its BUY rating on Eagers Automotive (ASX:APE) and have increased its price target to $17.25 (previously $16.75). APE announced the proposed acquisition of a portfolio of dealerships and associated properties located in Canberra, ACT. The acquisition allows APE to gain entry into the ACT and be able to rollout easyauto123 in that market. APE closed 2.9% higher yesterday to $14.50, which implies about 19% share price growth in a year. Trading Central has a bullish signal on Goodman Group (ASX:GMG), indicating that the stock price may rise from the close of $23.06 to the range of $24.60- $24.90 in the next 28 days according to standard principals of technical analysis. 

Last night the Federal Budget was announced. There was a major focus on the cost of living and national security. Some of the positive news included cutting the fuel excise by 50%, in an effort to bring down petrol prices; low & middle income earners are to receive an additional $420 back on their tax returns; combining paid parental leave; a one-off payment of $250 to welfare recipients; and an expansion to the first home buyers scheme, with only a 5% deposit required to buy a house with no lenders mortgage insurance. Ahead of the Federal Budget release yesterday, the local market reached an 11-week high. The rally touched all industry sectors, except the materials and energy sectors. Telix Pharmaceuticals (ASX:TLX) was the biggest mover on the ASX200 yesterday, after its lead product received approval from the US Food and Drug Administration. And Magellan Financial (ASX:MFG) rebounded 7%, after a large sell-off. Meanwhile Whitehaven Coal (ASX:WHC) was down the most. Lake Resources (ASX:LKE) was once again the most traded stock by Bell Direct clients. Yesterday the lithium developer announced it had signed a non-binding memorandum of understanding with Japanese trading company Hanwa Co, for offtake of 15,000 to 25,000 tonnes per annum of lithium carbonate over 10 years, from one of its projects in Argentina, the Kachi Project. The lithium carbonate is to be priced at average quarterly benchmark market prices.  US equities extended its winning streak overnight, as traders followed ceasefire negotiations in Europe and key levels in the bond market. The Dow gained over 300 points, or 1%, the S&P500 closed 1.2% higher, while the tech heavy Nasdaq closed 1.8% higher. What to watch today:The local market is set to rise 0.75%, going by the SPI futures. In commodities, the oil price is lower following negotiations between Russia and Ukraine.Gold extended losses, nearing its lowest level in 4 weeks. And seaborne iron ore is slightly higher at US$150.14 a tonne. Around 15 stocks are set to go ex-dividend today. This often sees shares fall, as investors take their profits. Trading Ideas:Bell Potter have a Speculative Buy rating on Mesoblast (ASX:MSB) and have lowered their valuation from $3.75 to $2, implying 75.6% share price growth in a year.Trading Central have identified a bullish signal in Reliance Worldwide (ASX:RWC), indicating that the price may rise from the close of $4.30 to the range of $4.80 to $4.95, over 26 days, according to the standard principles of technical analysis. 

The local market managed to close with a small gain of 0.08% yesterday, a 10-week high for the benchmark ASX200 index. Sectors wise, the materials sector posted the biggest gain, and the financials, utilities and consumer staples sectors also lifted. While the remaining sectors posted losses, with the tech sector down the most. Looking at the ASX200 leaderboard, materials stocks led the way, with seven making the top 10 list, including BHP Group (ASX:BHP) up 2.3%, fertiliser company, Incitec Pivot (ASX:IPL) up 2.3% and Champion Iron (ASX:CIA) up 2.2%. On the flipside, tech shares were amongst the worst performers, with Xero (ASX:XRO), Tyro Payments (ASX:TYR), Novonix (ASX:NVX) and WiseTech Global (ASX:WTC) posting losses. The most traded stocks by Bell Direct clients yesterday, included Woodside Petroleum (ASX:WPL), Westpac (ASX:WBC) and Telstra (ASX:TLS). Westpac’s share price is up about 10% from the start of this year and Citi are optimistic on the stock, naming Westpac as its top choice compared to the other big four banks. Moving to the US, all three benchmarks are in the green, with the Nasdaq up the most. This was thanks to a modest 8% jump in Telsa’s share price, after the electric vehicle maker said it wants to split its stock to pay a stock dividend. Energy stocks slid alongside the price of oil, which we will touch on shortly.What to watch today: The futures are suggesting that the Aussie share market is set to open 0.52% higher this morning.  Economic news wise, retail sales for February will be released today. This estimates the turnover and volumes for retail businesses, including store and online sales. Tonight, all eyes will be on the 2022-23 Federal Budget that will be announced at 7.30 pm (AEDT). It’s a pre-election budget, with the election less than a couple of months away.In commodities, the oil price slid over 9% as new lockdowns in Shanghai prompted fears of a slowdown in demand, given China is the world’s largest oil importer. The WTI crude oil price has fallen to around US$103 a barrel. The gold price also fell about 1.8% on a firmer US dollar and yields. On the flipside, the spot iron ore price is trading 2.8% higher to US$146 a tonne.Sigma Healthcare (ASX:SIG) is set to release its financial year 2022 results.Trading Ideas: Bell Potter have maintained its BUY rating on electric services company, GenusPlus Group (ASX:GNP) and have increased its price target to $1.72 (previously $1.40). Bell Potter maintain their positive view on GNP’s demand outlook. This is supported by planned upgrades to east coast interconnector infrastructure, ageing distribution infrastructure and structural tailwinds in renewables investment. GNP closed about 0.8% lower yesterday to $1.21, which implies about 42% share price growth in a year. Trading Central has a bullish signal on NEXTDC (ASX:NXT), indicating that the stock price may rise from the close of $11.08 to the range of $12.40- $12.70 in the next 24 days according to standard principals of technical analysis. 

On Friday the ASX200 closed 0.26% higher and rose to a two-month high at 7,406 points, supported by a rise in metal and energy prices. Seven of the eleven sectors closed in the green, with materials and utilities in the lead. Healthcare stocks led the market losses.On the ASX200 leaderboard, BlueScope Steel (ASX:BSL) was the top performer, rising over 5% to $21.46, boosted by the rising price of steel. The steel price is higher due to the Russia-Ukraine war and China’s COVID lockdown. Meanwhile, Telix Pharmaceuticals (ASX:TLX) declined the most. The company made two announcements last week: firstly, that it has begun developments of its Belgian radiopharmaceutical production facility, and secondly, that one of its clinical trials has progressed to the next stage. Although positive announcements, its share price remained in the red. The most traded stocks by Bell Direct clients on Friday included Lake Resources (ASX:LKE), which has gained 85% this month, since the 1st of March. Aurelia Metals (ASX:AMI) was also highly traded, as investors sold shares in the gold miner after it announced lower grades of mineralisation in the Dargues Gold Mine. Core Lithium (ASX:CXO) is also lower after announcing the resignation of its CEO, Stephen Biggins. Global markets continue to track negotiations over the Russia-Ukraine war. European stocks closed slightly higher, and in US equities, the Dow was up 0.4%, the S&P500 up 0.5%, posting its second consecutive winning week, while the Nasdaq was slightly lower, down 0.2%. What to watch today:The ASX200 is set to rise 0.45% at the open this morning, if you’re going by the SPI futures. In economic news, retail sales data for February will be released today, as well as ANZ’s data on job advertisements for March. In commodities, oil turned positive on Friday, trading at US$113.90 a barrel on reports of a missile strike and fire at the Saudi Aramco facility. Gold has steadied at approximately US$1,960 an ounce, after jumping the two previous sessions. And seaborne iron ore is higher, trading just under US$150 a tonne.Companies that are set to go ex-dividend today include Cochlear (ASX:COH) and Reece (ASX:REH). Trading Ideas:Bell Potter have a Speculative Buy rating on DGO Gold Limited (ASX:DGO), recognising the higher level of risk and volatility of returns. The company has prospective operations and cash flows and Bell Potter have lowered their valuation from $4.47 to $4.41. DGO last closed at $2.63, implying 68% share price growth in a year. Trading Central have identified a bullish signal in Charter Hall (ASX:CHC), indicating that the stock price may rise from the close of $15.99 to the range of $17.90 to $18.30, over 40 days, according to the standard principles of technical analysis. 

The Aussie share market has advanced 1.3% this week (Mon-Thu). Oil prices once again rose over US$120 a barrel, which helped boost both the utilities and energy sectors. In this week’s wrap, Sophia covers:(0:42) Lithium explorer, AVZ Minerals (ASX:AVZ) gaining over 20%(1:54) Cettire (ASX:CTT) falling 21% after its CEO sold 35 million shares(2:08) The most traded stocks by Bell Direct clients(2:30) The impact of Russia's uranium economic isolation(5:09) Five economic news items to watch out for

On Wednesday, Australian shares rose to a two-month high, as tech shares gained 3.5%, following the US tech rally. The local tech sector was led by Afterpay’s parent company Block (ASX:SQ2), which rose to its highest closing price since the company officially listed on the ASX in January, at $188.10. Financials closed at the sector’s highest level since mid-November. Major banks, NAB, CBA, Westpac and ANZ all closed with solid gains, which may partly reflect comments on the increase in interest rates by US Federal Reserve Chairman Jerome Powell. Morgan Stanley has said that ANZ and NAB could announced a $1 billion and $2 billion buyback, respectively, in May, while CBA may launch another share buyback, with an additional $2 billion, if it goes ahead with plans to sell its 10% stake in the Chinese Bank, the Bank of Hangzhou. Looking at the ASX200 leaderboard shares in Uniti Group (ASX:UWL) led among blue chips. UWL surged 10.7% before entering into a trading halt in afternoon trade. This followed news of a $5 a share bid for Uniti, made by Macquarie Asset Management and PSP Investments. This new proposal beats the current offer on the table from Morrison & Co by approximately 11%. Meanwhile Fisher & Paykel Healthcare (ASX:FPH) fell 8%, after the company announced it expects a decline in its sales guidance for FY22 and also warned that freight costs are weighing on margins. The most traded stocks by Bell Direct clients yesterday included Lake Resources (ASX:LKE), Northern Star Resources (ASX:NST) and the Australian Foundation Investment (ASX:AFI). US equities closed in the red, with all three major benchmarks lower. The Dow was down 1.3%, the S&P500 down 1.2% and the Nasdaq down 1.3%.   What to watch today:Following the broad sell-off in New York overnight, the SPI futures are suggesting the ASX200 will fall 0.73% at the open this morning. In commodities, the oil price rallied, trading at US$114 per barrel, after Russia announced that a storm in the Black Sea had damaged one of the world’s largest oil pipelines, which has disrupted exports from Russia and Kazakhstan. The gold price is also higher, however remains under pressure as the Fed calls for an aggressive monetary tightening to combat inflation. Iron ore is lower, moving away from the 7-month high hit earlier this month, following demand concerns with the resurgence of COVID-19 cases in China. Companies that are set to go ex-dividend today include Cash Converters (ASX:CCV), Healius (ASX:HLS) and Spark New Zealand (ASX:SPK).  Trading Ideas:Bell Potter maintain their BUY rating on Uniti Group (ASX:UWL) and have increased their price target from $4.50 to $5. This price target is a premium to the office price of $4.50 by Morrison & Co, in the bidding war for Uniti. Trading Central have identified a bullish signal in Ioneer (ASX:INR) indicating that the price may rise from the close of $0.58 to the range of $0.69-$0.71, over 19 days, according to the standard principles of technical analysis. 

The local market was back in the green yesterday, up 0.9% with the materials and energy sectors boosting the market. Overall, the market was mixed, with six of the 11 industry sectors closing lower, with the tech sector down the most.Looking at the ASX200 leaderboard, Liontown Resources (ASX:LTR) was the best performer, up 6.3%, followed by AVZ Minerals (ASX:AVZ) and BHP Group (ASX:BHP), which added 5.1%. Computershare (ASX:CPU) posted a solid gain of 4.3%. One of the tailwinds helping Computershare recently is the outlook for rising interest rates, which will help increase its margins. On the flipside, tech shares were amongst the worst performers, with Block (ASX:SQ2) and Life360 (ASX:360) giving up some of their gains from the prior session. The most traded stocks by Bell Direct clients yesterday, they included Commonwealth Bank (ASX:CBA), Woodside Petroleum (ASX:WPL) and Allkem (ASX:AKE). Moving to the US, as at the time of recording, all three benchmarks are in the green as investors digest Federal Reserve Jerome Powell’s latest rate hike comments. Goldman Sachs on Monday upped its forecast to 50 basis point hikes at the May and June Fed meetings.What to watch today: The futures as at 7:30am AEDT, are suggesting that the Aussie share market is set to open 0.4% higher this morning.  Economic news wise, the manufacturing and services flash PMI for March will be released today. PMI stands Purchasing Managers’ Index which is essentially an index of the prevailing direction of economic trends in the manufacturing and service sectors. The flash PMI today is a forward-looking estimate of the final PMI, which is set to be released next week.In commodities, the oil price was mixed, currently trading down about 0.8%. It now looks unlikely that the European Union will pursue an embargo on Russian oil.  The gold price slipped to a near one-week low off the back of Federal Reserve Jerome Powell’s hawkish stance, which sent Treasury yields higher. Now gold is highly sensitive to rising US interest rates, as they increase the opportunity cost of holding non-yielding bullion.Seek (ASX:SEK), Myer Holdings (ASX:MYR) and Supply Network (ASX:SNL) are set to go ex-dividend today. Trading Ideas:Bell Potter have maintained its BUY rating on Nickel Mines (ASX:NIC) and have lifted its price target by 7% to $1.88. The comes as PT Oracle Nickel Industry, the operating entity housing the Oracle Nickel RKEF project, has been granted material corporate tax relief. This removes an expense of ~US$50 million per annum from its estimates for ten years. Now NIC closed about 1.5% higher yesterday to $1.29, which implies about 46% share price growth in a year. Trading Central has a bullish signal on Pilbara Minerals (ASX:PLS), indicating that the stock price may rise from the close of $3.00 to the range of $3.40- $3.55 in the next 24 days according to standard principals of technical analysis. 

The local market started the new trading week with a small loss of 0.2%, breaking its three-day winning streak from last week. Sectors wise, the market was mixed, with the industrials and healthcare sectors declining the most, both falling over 1%, while the tech sector managed to post a gain of 2.5%. Block (ASX:SQ2) was the session’s best performer, lifting a massive 9.2%, following another strong session for the company’s US listed shares. Family safety app, Life360 (ASX:360) also performed well, gaining 6.4% and EML Payments (ASX:EML) jumped 6.1%. On the flipside, Western Australian gold explorer, De Grey Mining (ASX:DEG) led the losses, down 7.7%, and Magellan Financial Group (ASX:MFG) also fell after its co-founder Hamish Douglass resigned as an independent director, more than a month after he took medical leave. The most traded stocks by Bell Direct clients yesterday included Core Lithium (ASX:CXO), REA Group (ASX:REA) and Northern Star Resources (ASX:NST).As at the time of recording, all three US benchmarks are in the red, and this follows Federal Reserve Chair Jerome Powell stating that inflation is too high and his commitment to taking the “necessary steps” to bring prices under control. Separately, Boeing has fallen more than 3% after a China Eastern Airlines Boeing 737 passenger plane crashed.What to watch today:The futures as at 7am AEDT, are suggesting that the Aussie share market is set to open 1.1% higher this morning.  In commodities, the oil price has jumped more than 7% after European nations considered joining the US in a Russian oil embargo. The WTI crude oil price is currently trading at US$112 a barrel.The gold price is trading higher following further escalations in Ukraine, which have boosted the safe-haven’s demand. The nickel price is down nearly 12%. Russia is the world’s third-largest nickel producer, and the current Russia/Ukraine war has sparked supply fears. The spot iron ore price is currently trading 2.5% higher at US$145 a tonne.Toll road operator, Atlas Arteria (ASX:ALX), Emeco Holdings (ASX:EHL) and health supplements company, Blackmores (ASX:BKL) are set to go ex-dividend today. Trading Ideas:Bell Potter have maintained its BUY rating on Technology One (ASX:TNE) with a price target of $14 (previously $15). TNE closed about 1% lower yesterday to $11.11, which implies about 26% share price growth in a year. Trading Central has a bullish signal on Galan Lithium (ASX:GLN), indicating that the stock price may rise from the close of $1.54 to the range of $1.75 - $1.81 in the next 21 days according to standard principals of technical analysis. 

Last week ended on a positive note, as Aussie shares closed higher for the third straight session, closing 0.6% on Friday, and lifting its weekly gain by 3.3%. The energy sector led the market after the oil price rose 9%, while the tech sector followed. The technology sector was led by Block (ASX:SQ2), which rose 7.2% to $168.88. Liontown Resources (ASX:LTR), Paladin Energy (ASX:PDN) and Telix Pharmaceuticals (ASX:TLX) were among the top performers, while Megaport (ASX:MP1) fell 8%, following news that its founder and chairman, Bevan Slattery, had sold $3 million MP1 shares. The most traded stocks by Bell Direct clients on Friday included Lake Resources (ASX:LTR), Core Lithium (ASX:CXO) and BHP Group (ASX:BHP). US stocks posted their best week since 2020. The Dow rose more than 270 points or 0.8%, the S&P500 rose 1.1% and the Nasdaq rose 2.05%. What to watch today:Following the rally on Wall Street, the local market is set to rise 0.81% at the open this morning, going by the SPI futures. In commodities, oil is trading 2% higher at US$104.95 a barrel, after a 8% rally in the previous session. Gold weakened past US$1,940 an ounce. And seaborne iron ore is higher at US$159.59 a tonne. Adairs (ASX:ADH) and NRW Holdings (ASX:NWH) are set to go ex-dividend today. Trading Ideas:Bell Potter maintained their BUY rating on The a2Milk Company (ASX:A2M) and have lowered their price target from $7.70 to $7.15. They expect the scope for EPS to double by FY26, if the company can execute on its China offline expansion strategy, while regaining 50% of the lost sales in its English label IMF, from FY20-21. A2M last closed to $5.40, implying 32.4% share price growth in a year. Trading Central have identified a bullish signal in AVZ Minerals (ASX:AVZ), indicating that the price may rise from the close of $0.92 to the range of $1.20 to $1.28, over 68 days. 

The Aussie share market soared this week, rising 2.65% (Mon-Thu), supported by the US Federal Reserve's decision to raise rates for the first time since 2018.In this week’s wrap, Sophia covers:(1:05) Uniti Group (ASX:UWL) gaining 30% on news of a takeover offer(2:03) Agri-business Elders (ASX:ELD) jumping to a decade high(2:51) Why major mining stocks & energy producers lost ground(3:52) The most traded stocks by Bell Direct clients(4:13) What the Fed's rate hike decision means for Australia(5:20) Two economic news items to watch out for

Before we begin, we wanted to let you know that this week, we’ve donated $10,000 to Foodbank, as the clean-up and support efforts continue through flood affected regions in Australia. Foodbank is an organisation that is supplying food and water to the front line of the flood crisis including the SES volunteers. To help support the cause, you can donate here:  https://foodbank.raisely.com/helpnswfloodvictimsYesterday, the local market advanced 1.1%, with all sectors closing in the green. The broad rally was led by the tech sector, which gained 3.3%, while the energy sector performed the worst, lifting just 0.2%, following a further decline in the oil price.  Looking at the ASX200 leaderboard, five of the top 10 best performing stocks, were tech shares, including Life360 (ASX:360) which was up the most, rising 7.4%. On the flip side, Super Retail Group (ASX:SUL) and Nanosonics (ASX:NAN) both declined around 3%, and Uniti Group (ASX:UWL) dropped 1.3%, as investors may have taken a bit of profit off the table following the stocks strong rise on Tuesday, after confirmation that it was in takeover talks. The most traded stocks by Bell Direct clients yesterday, Lake Resources (ASX:LKE) was again on top of the list, lifting over 11% yesterday, set to be added to the ASX300 Index on the 22nd of March. Also highly traded was the Vanguard Australian Fixed Interest Index ETF (ASX:VAF), BHP Group (ASX:BHP) and Telstra (ASX:TLS).Moving to the US, all three benchmarks closed in the green after the US Federal Reserve announced its first rate hike in more than three years, with officials indicating an aggressive path ahead, meaning we could see further rate rises at each of its remaining six meetings of this year. The Fed approved a 0.25% rate hike, which brings the rate now into a range of 0.25% - 0.50%.What to watch today: Following the positive session in the US, the futures are suggesting that the Aussie share market is set to open 1.6% higher this morning.  In commodities, the oil price continued to sink following Russia-Ukraine optimism and an increase in US inventories. The oil price is currently trading at US$95 a barrel. The gold price remained steady, at US$1,926 an ounce, after the US Fed hiked rates as expected. And the seaborne iron ore price is currently trading higher at US$148 a tonne.In economic news, the unemployment rate for February will be released today. As a reminder, the unemployment rate came in at 4.2% in January, which was unchanged from the month prior. For today, consensus is expecting February’s rate to come in at 4.1%. Coronado Global Resources (ASX:CRN), DDH1 (ASX:DDH), PWR Holdings (ASX:PWH), Genesis Energy (ASX:GEN), Fletcher Building (ASX:FBU) and electricity generation company Meridian Energy (ASX:MEZ) are set to go ex-dividend today. Trading Ideas:Bell Potter have maintained its BUY rating on drilling contractor DDH1 (ASX:DDH) with a price target of $1.56. Bell Potter expects ongoing rig fleet growth to drive calendar year 2022 earnings, while normalising domestic border conditions present operational upside. DDH closed flat yesterday at $1.04, which implies about 50% share price growth in a year. Trading Central has a bullish signal on Alpha HPA (ASX:A4N), indicating that the stock price may rise from the close of $0.57 to the range of $0.61 - $0.63 in the next 16 days according to standard principals of technical analysis. Bell Potter also has a speculative BUY rating on the stock with a 12-month valuation of $0.96. 

Yesterday, the local market was dragged down by mining stocks, after iron ore futures China’s Dalian market dropped 7% and the iron ore contract for April on the Singapore Exchange dropped 9%. Several Asian markets were down 5-6%, following further lockdowns to contain surging COVID cases in China. More than $50 million people in China have been placed under lockdown in an attempt to achieve the country’s zero COVID-19 strategy.On the ASX200, materials and energy declined the most, closely followed by the tech sector. Meanwhile, financials closed with the most gains. The stand out stock on the ASX200 was Uniti Group (ASX:UWL), jumping an impressive 27%, before being placed into a trading halt. This was amid speculation that the company is in takeover talks with Vocus Group. The offer is looking to be in the region of $4 to $5. Meanwhile, Chalice Mining (ASX:CHC) and Champion Iron (ASX:CIA) declined the most. Some of the most traded stocks by Bell Direct clients yesterday, included Lake Resources (ASX:LKE), BHP Group (ASX:BHP) and Allkem (ASX:AKE). US equities closed higher as a reading of wholesale inflation came in lighter than expected. The S&P500 rose for its first gain in four days, closing more than 2% higher. The Dow Jones up 1.8% or just under 600 points, while the Nasdaq jumped 2.9%. What to watch today:Following the US, the SPI futures are suggesting the local market will rise 0.58% at the open this morning. In commodities, oil has dropped a further 6.7%, now trading just over US$96, now more than 25% below its recent 14-year high of $130.50 reached last week. The new wave of COVID cases in China has also caused worries of China’s demand. Gold is down to US$1,917 an ounce, after US treasury yields surged past 2%, as investors await an upcoming rate hike from the Fed. And seaborne iron ore is 3.6% lower at US$144.77 a tonne. Some companies set to go ex-dividend today, include Data3 (ASX:DTL), Inghams Group (ASX:ING), and Money3 Corporation (ASX:MNY). Trading Ideas:Bell Potter have a Speculative BUY rating on Boss Energy (ASX:BOE), following the company reporting its half year results. Bell Potter’s valuation has been increased from $3.47 to $3.57 per share. Trading Central have identified a bullish signal in Aussie Broadband (ASX:ABB), indicating that the price may rise from the close of $5.34 to the range of $6.10 to $6.30, over 58 days, according to the standard principles of technical analysis. 

The local market advanced an impressive 1.2% yesterday, with 10 of the 11 industry sectors posting gains. The financial sector boosted the market the most, while the materials sector was slightly down 0.3%.Agribusiness, Elders (ASX:ELD) was the best performer, lifting 11% to a decade high. This was off the back of a positive trading update, where the company announced it expects its underlying earnings before interest tax (EBIT) to increase 20% in financial year 2022. It was also a good day for capital market company, Pendal Group (ASX:PDL) and holding company, Virgin Money UK (ASX:VUK). Meanwhile, materials stocks like Chalice Mining (ASX:CHC), Nickel Mines (ASX:NIC) and Pilbara Minerals (ASX:PLS) led the losses. As for the most traded stocks by Bell Direct clients yesterday, Lake Resources (ASX:LKE) was on top of the list, along with Brickworks (ASX:BKW) and Core Lithium (ASX:CXO). Also highly traded were CBA, NAB & Bendigo & Adelaide Bank (ASX:BEN). Moving to the US, the market closed in the red, as oil prices fell rapidly. Also investors await the latest Ukraine developments and anticipate the first rate hike by the Federal Reserve this week. This saw the Dow close flat, while the S&P500 fell 0.74% and the Nasdaq slipped over 2%.What to watch today:Following the negative session over in the US, the futures are suggesting that the Aussie share market is set to open 0.8% lower this morning.  In commodities, the oil price has retreated about 7% to US$101 a barrel. This comes as Russia and Ukraine were slated to resume peace talks on Monday, while China’s March demand is set to be revised lower due to new COVID-19 lockdowns.The gold price slipped 1.6% to US$1,952 per ounce as US Treasury yields rose on rate hike expectations. And silver, copper and palladium were also trading lower, with the palladium price down over 15%.Keep watch of Rio Tinto (ASX:RIO) today, after the company announced a non-binding proposal to acquire the remaining 49% of the Canadian miner, Turquoise Hill, that it doesn’t already own. If the deal is successful, RIO’s share of the Oyu Tolgoi operation will increase to 66%.Economic news wise, the RBA will release its meeting minutes for March. The RBA currently views the war in Ukraine as a source of uncertainty and expects underlying inflation to increase further in the coming quarters to around 3.25%, before declining to around 2.75% in 2023.ASX200 stocks going ex-dividend today, include media companies News Corp (ASX:NWS) and IVE Group (ASX:IGL), copper miner Sandfire Resources (ASX:SFR) and telco TPG Telecom (ASX:TPG). Trading Ideas:Bell Potter have maintained its BUY rating on Uniti Group (ASX:UWL) with a price target of $4.50. Bell Potter believe the stock represents value and is also a potential takeover target. UWL closed 0.96% higher yesterday to $3.15, which implies about 43% share price growth in a year. Trading Central has a bullish signal on testing, inspection and verification services company, ALS (ASX:ALQ), indicating that the stock price may rise from the close of $12.84 to the range of $14.60 - $15 in the next seven days according to standard principals of technical analysis. 

Aussie shares ended the week in the red, down 0.9%, dragged down by a 3% fall in the tech sector. BNPL stock Zip (ASX:Z1P) was the worst performer on the ASX200, closed more than 8% lower. Xero (ASX:XRO) closed down more than 5%, while Altium (ASX:ALU) and lock (ASX:SQ2) were also lower. Meanwhile, utilities, energy and materials closed in the green. The best performer on Friday was Allkem (ASX:AKE), which is the lithium producer formally known as Orocobre. Demand for lithium and electric vehicles has led to AKE’s share price growth over the last few years and on Friday the stock closed 5% higher. Incitec Pivot (ASX:IPL) and Nufarm (ASX:NUF) also lifted on Friday with the war in Ukraine causing a global shortage in fertiliser. The stocks gain 2.5% and 2%. The most traded stocks by Bell Direct clients included Core Lithium (ASX:CXO), Lake Resources (ASX:LKE), ANZ (ASX:ANZ), Nickel Mines (ASX:NIC) and Rio Tinto (ASX:RIO). In Europe, the European Central Bank delivered a hawkish surprise, to slow its bond purchases from the start of May, saying it may end its quantitative easing program altogether by the third quarter. However, economists had anticipated a more delayed withdrawal of monetary stimulus. In the US, CPI data for February came in at 8%, the highest reading since January 1982. And despite expectations for cooling goods demand on the back of the post-COVID reopening: core goods CPI printed at 12% in the year through February, the highest since 1975. US equities closed lower. The Dow down 0.7%, the S&P500 down 1.3%, while the Nasdaq dropped 2.2%. Locally today, the ASX200 is set to rise 0.28%, going by the SPI futures. What to watch today; In commodities, oil is trading higher, slightly above US$109 per barrel, however posted a 5.7% decline on the week. Gold is trading lower, just over US$1,984 an ounce, after retreating from a near record high earlier in the week. Investors weighed geopolitical uncertainties against a commodity-driven rise in inflation, prompting central banks to signal willingness to tighten monetary policy sooner. And seaborne iron ore is trading at US$155 a tonne. Watch Chalice Mining (ASX:CHN), as the gold mining company is set to report its earnings. Companies set to go ex-dividend today include Best & Less (ASX:BST), Pepper Money (ASX:PPM), SCA Property (ASX:SCP) and Suncorp (ASX:SUN). Trading Ideas: Bell Potter maintain their BUY rating on Doctor Care Anywhere (ASX:DOC), a UK- based telehealth company. Bell Potter have lowered their price target from $1.30 to $0.55, largely reflecting the re-rating of growth stocks in recent weeks. DOC last closed at $0.29, implying 89.6% share price growth in a year. Trading Central have identified a bullish signal in gold miner Firefinch (ASX:FFX), indicating that the stock price may rise from the close of $0.80 to the range of $0.89 to $0.91, over 20 days, according to the standard principles of technical analysis. 

The materials and energy industry sectors have cooled off this week, however the Aussie share market gained 0.3% (Mon-Thu).In this week’s wrap, Sophia covers:(0:34) Mesoblast (ASX:MSB) leads the ASX200(1:00) The gold miners that gained as the safe-haven commodity rose(1:36) Why Nickel Mines (ASX:NIC) tumbled 24%(2:51) The most traded stocks by Bell Direct clients(3:21) Bell Potter’s top tech picks(5:28) Two economic news items to watch out for

Yesterday at ASX200 closed in the green for the first time in four days. The tech sector rebounded, after what had been a week of heavy losses, with software players WiseTech (ASX:WTC) and Xero (ASX:XRO) adding 6.4% and 1.8% respectively. The likes of Block (ASX:SQ2) and Zip (ASX:Z1P) also made gains. BNPL stock Z1P posted its first positive session since the February 25th. Mesoblast (ASX:MSB) rebounded 17%, after falling earlier this week. While Paladin Energy (ASX:PDN) jumped 10%, off the back of broker upgrades. Bell Potter have upgraded PDN from a HOLD to a Speculative BUY. The broker says that the Uranium price continues to recover from cyclical lows, as limited near-term supply spurs the spot market, whilst the global path to decarbonisation re-shapes the role of nuclear energy over the longer-term. PDN represents the largest and most liquid exposure to uranium on the ASX, with the pending restart decision at their flagship Langer Heinrich Mine. The most traded stocks by Bell Direct clients yesterday included 29 Metals (ASX:29M), Core Lithium (ASX:CXO) and Lake Resources (ASX:LKE). US equities are higher, with all three major benchmarks in the green.  The S&P500 and the Dow up more than 2.5% and the Nasdaq rallying 3.9% higher. Following the US, the SPI futures are suggesting the local market will rise 0.44% at the open this morning. What to watch today: In commodities, the price of oil has cooled off, trading 12% lower at US$109 a barrel, as investors try to assess the impact of recent sanctions in the oil market. The gold price is also trading 3% lower, as some investors may be selling gold to raise cash to buy undervalued stocks offsetting gold's safe-haven appeal. And seaborne iron ore is has fallen to US$157 a tonne. Capricorn Metals (ASX:CMM), De Grey Mining (ASX:DEG) and Gold Road Resources (ASX:GOR) are set to report their earnings today. Trading Ideas: Bell Potter maintain their BUY rating on Nickel Mines (ASX:NIC) with a $1.76 price target. NIC entered and exited a trading halt on Wednesday, following a 23% drop in its share price in morning trade. This resulted from speculation around the possible implications for private equity company Tsingshan Holding Group, which is the world’s largest stainless steel producer and parent company of Shanghai Decent Investment, who are NIC’s largest shareholder, having a 17.9% stake in the company. NIC last closed at $1.40, implying 25.3% share price growth in a year. 

We wanted to let you know that this week, we’ve donated $10,000 to the Australian Red Cross QLD and NSW Floods Appeal to provide vital humanitarian support to the people and communities affected by the 2022 floods. We're committed to supporting our community through this difficult time and are thinking of those Australians who have suffered catastrophic losses, knowing the journey to rebuild is only beginning for many. To help support the cause, you can donate here: https://www.redcross.org.au/floodsappeal/  Now let’s take a brief look at what happened yesterday. The local market declined 0.8%, weighed down by both the energy and materials sectors, as investors feared that higher energy prices due to Russia’s war in Ukraine would drive inflation higher and hurt the global economy.Gold miner, St Barbara (ASX:SBM) was the best performer, lifting nearly 13%, supported by the rising gold price, but also due to claims that it could be a takeover target. And healthcare stocks like Imugene (ASX:IMU), Mesoblast (ASX:MSB), CSL (ASX:CSL) and ResMed (ASX:RMD) also performed well. While, the major miners led the losses, even as iron ore prices climbed above $US160 a tonne.The most traded stocks by Bell Direct clients yesterday included Lake Resources (ASX:LKE) was on top of the list again, along with Rio Tinto (ASX:RIO), Northern Star Resources (ASX:NST), Westpac (ASX:WBC) and ANZ (ASX:ANZ). US shares continued to fall overnight, as investors try to determine the impact of the Russia-Ukraine war. The Dow fell about 180 points, falling deeper into correction territory, the S&P500 was down 0.72% and the Nasdaq fell 0.28%, falling further into bear market territory.Despite the negative session over in the US, the futures are suggesting that the Aussie share market is set to open slightly higher this morning. What to watch today: In commodities, the oil price is trading 4% higher to US$124 a barrel, and in fact popped up as much as 7% following President Joe Biden announcing a ban on Russian fossil imports including oil in response to the country’s invasion of Ukraine. The gold price continues to trade higher, at US$2,050 per ounce.And the nickel price jumped a massive 88%, surging at one point to a record US$100,000 a tonne, so today keep watch of miners with exposure to nickel, such as IGO (ASX:IGO), Nickel Mines (ASX:NIC) and Western Areas (ASX:WSA).In economic news, the Westpac Consumer Confidence index will be released today at 10:30am AEDT. As a reminder, the index declined 1.3% to 100.8 points in February 2022, and March’s figure is expected to come in at 99.2, according to Trading Economics.Companies going ex-dividend today include Accent Group (ASX:AX1), Brambles (ASX:BXB), Costa Group Holdings (ASX:CGC) and Imdex (ASX:IMD).Trading Ideas: Bell Potter have maintained its BUY rating on media technology company, Ai-Media Technologies (ASX:AIM) with a price target of $0.90. Overall, Bell Potter remains positive on the company and its outlook. In particular, they are attracted to the growing global market opportunity. AIM closed flat yesterday at $0.56, which implies 53% share price growth in a year.Trading Central has a bearish signal on Sims (ASX:SGM), indicating that the stock price may fall from the close of $18.92 to the range of $14.20 - $15.10 in the next 16 days according to standard principals of technical analysis.

Yesterday, the local market had its worst day of the month, however energy and materials remained strong, boosted by discussions by the US to ban Russian oil imports into the US.  As commodities continue to rise, oil and gas producer Woodside Petroleum (ASX:WPL) was up 9.5%, and strong gains were made by gold miners Northern Star Resources (ASX:NST), Ramelius Resources (ASX:RMS) and Gold Road Resources (ASX:GOR). Copper miner IGO (ASX:IGO) and other large mining stocks also lead the ASX200. The most traded stocks by Bell Direct clients included Lake Resources (ASX:LKE), Woodside Petroleum (ASX:WPL) and 29Metals (ASX:29M). US shares tumbled overnight, amid concerns of higher energy prices stemming from the Russia-Ukraine conflict, as well as inflation concerns. The Dow lost almost 800 points, down 2.4%, the S&P500 down 3%, while the Nasdaq fell 3.6%, now sitting in bear market territory.What to watch today:Following US equities, the Australia market is set to open flat this morning. In commodities, the oil price surged to near US$130 a barrel, now trading at US$119. Gold has also jumped, topping $2,000 per ounce for the first time since August 2020. Gold is seen as a safe-haven metal and therefore demand for gold has risen. Seaborne iron ore is also higher. And wheat has jumped as well. Ukraine is responsible for more than 25% of the world’s wheat exports, which will be severely disrupted this year. In economic news, the NAB Business Confidence index will be released today 11:30am AEDT. The index bounced to 3 in January this year, from December’s low of -12. February’s figure is expected to fall to 1. There are several companies going ex-dividend today also, including Iluka Resources (ASX:ILU), Lovisa (ASX:LOV), Mader Group (ASX:MAD) and Sonic Healthcare (ASX:SHL).Trading Ideas:Bell Potter maintain their BUY rating on Flight Centre (ASX:FLT), retaining a positive view on the stocks outlook and competitive position as global travel recovers. Bell Potter have upped their target price from $20 to $20.50. The stock last closed at $17.05, implying 20.2% share price growth in a year. Trading Central have identified a bullish signal in Cobalt Blue Holdings (ASX:COB), indicating that the price may rise from the close of $0.65 to the range of $0.82 to $0.88, over 34 days.

On Friday the ASX200 dropped 0.6%, with the tech sector down the most, after making solid gains earlier in the week. Some big tech names were among the worst performing stocks, including Tyro Payments (ASX:TYR), EML Payments (ASX:EML), Zip (ASX:Z1P) and Block (ASX:SQ2). Meanwhile, gold miners made the most gains as the spot price rose. Perseus Mining (ASX:PRU), Newcrest Mining (ASX:NCM) and Gold Road Resources (ASX:GOR) were the top three stocks on Friday. The most traded stocks by Bell Direct clients on Friday were Santos (ASX:STO), Mineral Resources (ASX:MIN), and BHP Group (ASX:BHP). As the invasion of Ukraine continues to rattle global markets, European markets had the worst week since March 2020. US equities also closed in negative territory. The Dow Jones down 0.5%, the S&P500 down 0.8%, while the Nasdaq fell 1.7%. This was despite a better-than-expected US jobs report. The US unemployment rate was down to 3.8%. What to watch today: The SPI futures are suggesting the local market will rise 0.4% higher at the open this morning. The strong oil rally continues. Oil is trading 7% higher and reached US$115 a tonne This is as the US looks to cut off US imports of oil and petroleum products to Russia. Additionally, OPEC will remain with the existing agreement for a gradual increase in production. Energy prices were higher across the broad after news that Russian troops had attacked a nuclear power plant in Ukraine. Gold is higher at US$1,970 an ounce, and seaborne iron ore is higher at US$152 a tonne. In economic data, today Australian job advertisement data will be announced for February. And some stocks set to go ex-dividend today include CSL (ASX:CSL), Australian Financial Group (ASX:AFG), Altium (ASX:ALU), Bendigo and Adelaide Bank (ASX:BEN), and Northern Star Resources (ASX:NST). Trading Ideas:Bell Potter maintain their Speculative BUY rating on Chalice Mining (ASX:CHN) and have decreased their valuation to $12.02. Bell Potter says the company has demonstrated resource growth potential and the commencement of regional exploration programs signal potential positive news flow on ongoing exploration success. Macquarie also have an Outperform rating on the stock and a $10.55 price target. Trading Central have identified a bullish signal in EMvision Medical Devices (ASX:EMV), indicating that the price may rise from the close of $1.98 to the range of $2.25 to $2.31, over 29 days. 

The Russian invasion of Ukraine escalated this week, however the Aussie share market managed to gain 2.2% (Mon-Thu).  In this week’s wrap, Sophia covers: (0:10) How countries and companies are disarming Russia(1:58) Why conflict based sell-offs are typically short-lived(2:44) Energy producers and miners making solid gains(3:20) Zip (ASX:Z1P) falling 15% after announcing Sezzle takeover(3:59) The most traded stocks by Bell Direct clients(4:40) Two economic news items to watch out for 

The energy sector continued to gain, supported by the rising oil price. Energy prices are on the rise, with the war in Ukraine and sanctions against Russia, one of the world’s largest energy producers. Energy closed 4.9% higher yesterday and materials closed 3% higher. Economic growth data was also released yesterday. The Australia economy saw its strongest lift since 1976. GDP grew by 3.4% in the December quarter. The largest contribution to the economic expansion was household spending, up 3.2%. Stocks that made strong gains off the back of soaring commodity prices included Santos (ASX:STO) and Woodside Petroleum (ASX:WPL). And the big mining stocks gained, including Whitehaven Coal (ASX:WTC), South32 (ASX:S32), Sandfire Resources (ASX:SFR), Ramelius Resources (ASX:RMS), Fortescue Metals (ASX:FMG) and Rio Tinto (ASX:RIO).And the most trading stocks by Bell Direct clients yesterday included Core Lithium (ASX:CXO), Lake Resources  (ASX:LKE) and Australia and New Zealand Bank (ASX:ANZ). Stocks rebounded in New York overnight, despite the escalating war in Ukraine and soaring commodity prices. It was a broad rally, the Dow up 1.8%, the S&P500 up 1.9% and the Nasdaq up 1.6%. What to watch today:Following US equities, the local market is set to open higher, with the SPI futures suggesting a 0.99% rise at the open this morning. In economic news, balance of trade data for January will be released today.Oil jumped another 7% and is now trading at US$111 per barrel. The International Energy Agency, the IEA, has warned that global energy security is under threat as the worsening crisis in Ukraine and broadening sanctions against Russia create fears of further supply disruptions. Gold is trading lower at US$1,926 an ounce, while the seaborne iron ore price has jumped to $146 a tonne. Some of the big names going ex-dividend today include Woolworths (ASX:WOW), Coles (ASX:COL), Pro Medicus (ASX:PME), IGO (ASX:IGO) and ASX (ASX:ASX). Trading Ideas:Bell Potter maintain their BUY rating on Select Harvests (ASX:SHV) and have lowered their price target from $7.10 to $6.85. SHV last closed at $5.55, implying 23.4% share price growth in a year.Trading Central have identified a bullish signal in De Grey Mining (ASX:DEG) indicating that the price may rise from the close of $1.23 to the range of $1.55 to $1.63 over 29 days, according to the standard principles of technical analysis. 

The ASX200 closed 0.7% higher, with tech once again in the lead, with investors moving back into tech. This was after a rally by the Nasdaq and coincided with a drop in the US 2-year Treasury yield. Meanwhile utilities declined the most. Investors were also conscious of the RBA’s meeting yesterday. The RBA held the cash rate at 0.1% and mentioned that the Russia – Ukraine war is a major source of uncertainty, considering the supply issues and effects on global energy markets. The bank is expecting inflation to further increase to 3 ¼ %, and then decline to approximately 2 ¾ %over the course of next year. Looking at the ASX200 leaderboard, Pointsbet Holdings (ASX:PBH) was the top performer, while big tech names also made the top 10, including EML Payments and Tyro Payments, as well as Block (ASX:SQ2), which jumped more than 12% to $175.16 after Macquarie said its share price could rise near 50% within the next year. Among the tech rally, Xero (ASX:XRO) and WiseTech (ASX:WTC) also gained. The most traded stocks by Bell Direct clients yesterday included Auckland International Airport (ASX:AIA), Transurban Group (ASX:TCL), BHP (ASX:BHP), ANZ (ASX:ANZ) and NAB (ASX:NAB). European and US markets suffered heavy losses overnight. The Dow Jones lost nearly 600 points, down 1.8%, the S&P500 down 1.6% and the Nasdaq down 1.6%. The local market is set to drop, with the SPI futures suggesting a 0.92% fall at the open this morning. What to watch today: In economic data, today the GDP growth rate for the fourth quarter will be released. In commodities, the oil price continues to move higher, reigniting concerns for interest rates and growth. Oil leapt for than 10% to above US$105 per barrel. Gold is trading higher at its strongest levels since January 2021 and the seaborne iron ore price is sitting at US$143 a tonne. Some of the companies set to go ex-dividend today include GQG Partners (ASX:GQG), Link Administration (ASX:LNK), oOh!media (ASX:OML), Platinum Asset Management (ASX:PTM), and Telstra (ASX:TLS). Boss Energy (ASX:BOE) is set to report its earnings today. Trading Ideas: Bel Potter maintain their Buy rating on Avita Medical (ASX:AVH) and have slashed their price target from $9 to $4.60. Bell Potter continue to forecast excellent long term growth for AVH, however say it is unlikely to manifest over the next year. AVH last closed at $3.23, implying 42.4% share price growth in a year. Trading Central have identified a bullish signal in Vimy Resources (ASX:VMY) indicating its price may rise to $0.26 to $0.28 over 26 days. 

Yesterday the ASX200 closed in the green, with eight of the eleven industry sectors higher. The materials and energy sectors lead the market yesterday, underpinned by strong oil prices. On the ASX200 leaderboard, Blackmores (ASX:BKL) gained the most, rebounding from the previous session. On Friday BKL dropped 10.5% following its earnings report, before bouncing back on Monday and closing 9.8% higher. Ord Minnett and Morgans say Blackmores is a Hold, while Citi have a Sell rating. Meanwhile, Life360 (ASX:360) was the worst performer, falling 9%. 360 is a Bell Potter Buy. The most traded stocks by Bell Direct clients yesterday included BHP Limited (ASX:BHP), Accent Group (ASX:AX1), Tyro Payments (ASX:TYR) and Westpac (ASX:WBC). US equities closed mixed overnight. The Dow down 0.5%, the S&P500 down 0.2%, while the Nasdaq closed 0.4% higher. The local market is set to rise, with the SPI futures suggesting a 0.23% rise at the open this morning. What to watch today:Oil prices continue to rally as the war escalates in Ukraine. Oil is currently 4.8% higher at US$95 a barrel. The gold price had its largest monthly gain since May, trading higher at US$1,910 an ounce. And the seaborne iron ore price is lower at US$141 a tonne. In economic data, today the RBA will announce its interest rate decision, expected to remain unchanged at 0.1%. As reporting season wraps up, many companies are set to go ex-dividend this week. This often sees shares fall, as investors take their profits. Today, ex-dividend stocks include AUB Group (ASX:AUB), Endeavour Group (ASX:EDV) and Origin Energy (ASX:ORG). Trading Ideas: Bell Potter maintain their Buy rating on BWX (ASX:BWX) and have decrease their price target from $6.10 to $4.90. BWX delivered a statutory NPAT loss of $2.3 million, due to several headwinds relating to the COVID-19 lockdowns.Trading Central have identified a bullish signal in Lotus Resources (ASX:LOT), indicating that the stock price may rise from the close of $0.29 to the range of $0.34 to $0.36, over 24 days, according to the standard principles of technical analysis. 

On Friday the tech sector made a comeback, advancing more than 8% following Block’s quarterly results. Block (ASX:SQ2) is the US payment company that acquired Afterpay last month, and its ASX listed shares jumped 32.5% on Friday to $153.75. Quarterly revenue surpassed analysts’ forecasts, increasing 29% higher than the year prior. Life360 (ASX:360) was another top performer. Now on Thursday, 360 fell 29%  to $4.60 following its earnings report. The stock then rebounded on Friday, up 22% to $5.71. Meanwhile, Blackmores (ASX:BKL) was 10.5% lower, falling for the second consecutive session, after reporting a decline in revenue for its Australia and New Zealand region. Magellan Financial (ASX:MFG) also closed 10% lower, after reporting a further decline in its funds under management.The most traded stocks by Bell Direct clients on Friday included Mount Gibson Iron (ASX:MGX), Transurban Group (ASX:TCL), Westpac (ASX:WBC), Northern Star Resources (ASX:NST) and ANZ (ASX:ANZ). US equities closed with strong gains on Friday. The Dow up 2.5%, and S&P500 up 2.3% and the tech heavy Nasdaq up 1.6%. Following the rally in New York, the ASX200 is set to jump at the open this morning. The futures are suggesting a rise of 2.4% at the open. What to watch today: In commodities, oil is lower at US$91.80 a barrel, following a rally in the prior session, that saw prices top US$100 for the first time since 2014. The gold price is also lower amid concerns over the economic impact of the Russia-Ukraine conflict. And the seaborne iron ore price is down to US$141 a tonne. In economic data, retail sales data for January will be released today. Approximately 15 companies are set to report their earnings results today, including the Bank of Queensland (ASX:BOQ), Lynas Rare Earths (ASX:LYC) and Mesoblast (ASX:MSB). Some big names are also set to go ex-dividend today, including Aurizon (ASX:AZJ), Credit Corp Group (ASX:CCP), Evolution Mining (ASX:EVN), and Fortescue Metals (ASX:FMG). Trading Ideas:Bell Potter maintain their BUY rating on Infomedia (ASX:IFM), a leading provider of software solutions in the automotive industry. Following the company’s half year results, Bell Potter have decreased their price target from $2 to $1.85, considering the earnings changes as well as market movements and time creep. IFM reported revenue grew 24% to $59 million, 5% above Bell Potter’s forecast. IFM last closed at $1.43, implying 29.4% share price growth in a year.  Trading Central have identified a bullish signal in Paladin Energy (ASX:PDN), indicating that the price may rise from the close of $0.77 to the range of $1.01 to $1.07, within 33 days. Bell Potter say PDN is a Speculative stock and have maintained their Hold rating. 

The Aussie share market fell 3.2% (Mon-Thu), weighed down by Thursday's loss, the market's worst day since September 2020. Consumer staples managed to advance more than 4%, while tech shares dropped 10%.In this week’s wrap, Sophia covers:(0:12) The Russia-Ukraine war and its impact on oil prices(1:58) Why Cimic Group's (ASX:CIM) share price jumped 35%(3:11) Life360 (ASX:360) falling 29% after releasing its result(3:47) The most traded stocks by Bell Direct clients(4:16) Bell Potter's stock upgrades and downgrades this week(5:20) Three economic news releases to watch

The Aussie share market managed to advance 0.6% yesterday. Nine of the eleven industry sectors posted gains, with the tech sector advancing the most. On the flip side, the real estate sector and utilities sector posted small losses. On the ASX200 leaderboard, HUB24 (ASX:HUB) lifted nearly 10% off the back of its solid half-year results. The investment advice company experienced a record inflow of funds during the half, and an increase of 80% in its group underlying EBITDA. Macquarie maintained its Outperform rating on HUB and stated that the company is now its preferred exposure among wealth platforms. And a few tech stocks performed well, including Tyro Payments (ASX:TYR), as well as Life360 (ASX:360) and Zip (ASX:Z1P), who are both set to report today. Meanwhile, Domino’s Pizza (ASX:DMP) was the worst performer, plummeting 14% after its half-year results showed that its underlying net profit had plunged 5.3% to $91.3 million. This was short of Bell Potter’s and consensus’ expectations of $96m. Bell Potter have retained its HOLD rating with a 27% reduction in its price target to $95. The most traded stocks by Bell Direct clients yesterday included AVZ Minerals (ASX:AVZ), BrainChip (ASX:BRN) and Woodside Petroleum (ASX:WPL). In the US, the S&P500 closed lower for the fourth straight session, the Dow was down over 400 points and the Nasdaq declined more than 2% with the market is struggling to find direction given the Russia-Ukraine tensions. In line with the negative session over on Wall Street, the futures are suggesting the Aussie share market will open 1.3% lower this morning. What to watch today: In commodities, the oil price is currently up, trading around US$92 a barrel. The gold price is up about 0.6% to US$1,907 an ounce. The palladium price is up 5%, so keep watch of ASX stocks like Chalice Mining (ASX:CHN) and Liontown Resources (ASX:LTR). And the seaborne iron ore price is trading around US$143 a tonne. Reporting season: Firstly, Rio Tinto (ASX:RIO) released its results after market close yesterday, announcing a record financial result and total dividend of US247cps. So keep watch of RIO when the market opens.We’ll also hear from several travel stocks, including Qantas (ASX:QAN), Flight Centre (ASX:FLT) and Auckland International Airport (ASX:AIZ). Tech stocks like Zip Co (ASX:Z1P), Appen (ASX:APX), Altium (ASX:ALU) and Life360 (ASX:360) are also set to report, as well as Blackmores (ASX:BKL) and Iluka Resources (ASX:ILU).Bell Potter expects Appen (ASX:APX) to deliver NPAT of US$41m, while consensus is expecting $US39.6m. Aristocrat Leisure (ASX:ALL) is holding its AGM today. There are a several companies going ex-dividend today also, including BHP Group (ASX:BHP), Challenger (ASX:CGF), OZ Minerals (ASX:OZL), Whitehaven Coal (ASX:WHC) and Woodside Petroleum (ASX:WPL).Trading Ideas: Bell Potter have maintained its BUY rating on Coronado Global Resources (ASX:CRN) with a price target of $1.65. Bell Potter noted that the speed of CRN’s balance sheet repair has been remarkable and its strong cash generation at record met coal prices will likely hold up until at least mid-2022. Trading Central has a bullish signal on Steadfast Group (ASX:SDF), indicating that the stock price may rise from the close of $4.92 to the range of $5.28 - $5.36 in the next 19 days according to standard principals of technical analysis.

Amid heighted concerns for the Russia and Ukraine conflict, the ASX200 closed 1% lower yesterday. Only energy, consumer staples and healthcare sectors managed to post gains. Tech shares declined the most, sensitive to expectations of tighter monetary policy. Cochlear (ASX:COH) advanced 9%, closing at $207.37, after a positive earnings report. This included a 20% rise in underlying net profit, as well as improved dividend. Other companies that made the top 10 after reporting their earnings yesterday included Costa Group Holdings (ASX:CGC), HUB24 (ASX:HUB), and Coles (ASX:COL). Meanwhile, Nanosonics (ASX:NAN) declined the most after reporting a large profit fall. Its share price closed just over 13% lower. The most traded stocks by Bell Direct clients yesterday included Star Entertainment (ASX:SGR), Alumina (ASX:AWC) and BHP Group (ASX:BHP). European markets closed mixed, while US equities were in the red. The Dow dropped 480 points or 1.4%, falling for the fourth straight session. The S&P500 down 1% and the Nasdaq down 1.2%. It was a negative start to the trading week, after the Presidents’ Day holiday, as market sentiment was dented by intensifying concerns between Russia and Ukraine. Additionally, expectations of tighter monetary policy have put pressures on the market. What to watch today:Australian shares are expected to rise. The SPI futures are suggesting a 0.28% lift at the open this morning. The oil price is trading at US$92, after jumping more than 4% to an over 7-year high, on worries of the possibility of supply disruptions as tensions escalate in Europe. The gold price reached its highest level in nearly 9-months, while the seaborne iron ore price is higher at US$143 a tonne. Some companies that are reporting today include APA Group (ASX:APA), Domino’s Pizza (ASX:DMP), WiseTech (ASX:WTC), Rio Tinto (ASX:RIO), St Barbara (ASX:SBM) and Woolworths (ASX:WOW). Stocks going ex-dividend today include AGL Energy (ASX:AGL), Codan (ASX:CDA), JB Hi-Fi (ASX:JBH), Magellan Financial Group (ASX:MFG), and Netwealth Group (ASX:NWL). Remember this often sees shares fall as investors take their profits. Trading Ideas:Bell Potter have a Speculative Buy rating on Cluey (ASX:CLU). Cluey is an education technology company, providing personalised online tutoring and educational services for school students. The company delivered a strong half-year report with metrics broadly in-line with Bell Potter’s forecasts. Bell Potter have a $1.50 valuation on the CLU. The stock last closed at $1.00, implying 50% share price growth in a year. Trading Central have identified a bullish signal in Woolworths (ASX:WOW), indicating that the stock price may rise from the close of $35.20 to the range of $36.60 to $36.90, over 20 days, according to the standard principles of technical analysis. Woolworths is also set to report its half year earnings today. Bell Potter expect NPAT of $808.2m. 

The Aussie share market started the new trading week in the green, closing 0.16% higher yesterday, as news came in mid-session that the US and Russian President have agreed to meet, which eased some fears of an imminent invasion of Ukraine. Sectors wise, the utilities sector led the way, lifting over 3%. Most of the other sectors also rose, except for the tech sector, healthcare sector, and consumer discretionary sector which fell.   The a2 Milk Company (ASX:A2M) jumped 11% after releasing its half-year results. While a disappointing decline was posted, some upbeat commentary from its management seems to have offset the profit miss. AGL Energy (ASX:AGL), lifted 11% after announcing its board had rejected a takeover offer from Atlassian billionaire Mike Cannon-Brookes and Canada’s Brookfield Asset Management, stating that the unsolicited bid of $7.50 a share undervalued the company. Meanwhile, tech stocks like Zip (ASX:Z1P), Block (ASX:SQ2) and Tyro Payments (ASX:TYR) were amongst the worst performers.  Some of the most traded stocks by Bell Direct clients yesterday included AVZ Minerals (ASX:AVZ), Lake Resources (ASX:LKE), AGL Energy (ASX:AGL), as well as Fortescue Metals (ASX:FMG). Across the sea, the German DAX dropped 3%, the CAC fell 2%, and the FTSE lost 0.4%. While Wall Street was closed on Monday for the President’s Day holiday. What to watch today:As European stocks plunged and markets continued to be shaken by the tensions in Ukraine, the futures are suggesting the Aussie share market will open about 1% lower this morning. The oil price lifted more than 1%, currently around US$93 a barrel. The gold price is also benefitting, up 0.35%. While the seaborne iron ore price was down 1.9% to US$141 a tonne. Reporting season wise, we’ll hear from mining company Alumina (ASX:ALU), Costa Group Holdings (ASX:CGC), Cochlear (ASX:COH), lottery company Jumbo Interactive (ASX:JIN), as well as Coles (ASX:COL). Bell Potter expects Coles to deliver NPAT of $538.4m, while consensus is expecting $506m. Companies going ex-dividend today include Amcor (ASX:AMC), IPH Limited (ASX:IPH), Tabcorp (ASX:TAH) and Wesfarmers (ASX:WES). Trading Ideas:Citi have maintained its BUY rating on Zip (ASX:Z1P) with a price target of $3.65, after the BNPL provider gave an interim update on its half-year 2022 results yesterday morning. Zip reported its Cash Earnings Before Tax, Depreciation and Amortization (EBTDA) is expected to be a loss of $108.1m. This was materially lower than Citi’s expectation of a $38m loss. So keep watch of Zip as the company is set to release its results in full this Thursday. Finally, Trading Central has a bearish signal on Super Retail Group (ASX:SUL), indicating that the stock price may fall from the close of $11.63 to the range of $10.60 - $11 in the next 17 days according to standard principals of technical analysis.

On Friday the local market fell just over 1%. All industry sectors closed in the red, with utilities and healthcare falling the most. On the ASX200 leader board, Magellan Financial Group (ASX:MFG) gained over 18%, after reporting a profit and dividend increase. MFG’s half-year earnings beat market forecasts with NPAT of $251.6 million, up 24% from this time last year, and an interim dividend $1.10, which is a 13% increase. Meanwhile, QBE Insurance (ASX:QBE) declined the most on Friday, after reporting full-year 2021 results that fell short of market expectations. The most traded stocks by Bell Direct clients included BHP Group (ASX:BHP), Commonwealth Bank of Australia (ASX:CBA) and Macquarie Group (ASX:MQG), as well as Amcor (AXS:AMC), Lake Resources (ASX:LKE) and Fortescue Metals (ASX:FMG). US equities were lower as the Russia and Ukraine conflict continues to put investors on edge. On Friday the Wall Street Journal reported that the US expect an attack from Russia in a few days. Friday was also a volatile day for the US market with many stocks, indexes and ETFs set to expire. What to watch today:Following Wall Street, the SPI futures are suggesting the ASX200 will open 0.7% lower at the open this morning. The price of oil is lower, as escalating violence in Ukraine heightened concerns over supply disruptions from a possible war with Russia, offsetting prospects of Iranian oil returning to global markets. The gold price is steady at US$1,897 an ounce, while the seaborne iron ore price is lower at US$141 a tonne. Companies reporting their earnings results today include: a2 Milk (ASX:A2M), AMA Group (ASX:AMA) and Pilbara Minerals (ASX:PLS). Bell Potter expect PLS to report NPAT of $137 million. They currently have a Neutral – High Risk rating on the stock. Santos (ASX:STO) and Vicinity Centres (ASX:VCX) are set to go ex-dividend today. In economic news, the Manufacturing and services flash PMI will be released this morning. This is a forward-looking estimate of the final PMI for February, which will be released next week. Trading Ideas: Bell Potter maintain their BUY rating on Nickel Mines (ASX:NIC), and have decreased their price target from $1.89 to $1.83. NIC last closed at $1.36 implying 34.6% share price growth in a year. Trading Central have identified a bullish signal in Global Lithium Resources (ASX:GL1), indicating that the stock price may rise from the close of $1.50, to the range of $2 to $2.10, over 20 days, according to the standard principles of technical analysis.

The Aussie share market advanced over 1% this week (Mon-Thu), with CSL's (ASX:CSL) strong report helping the healthcare sector rally more than 7%. In this week’s wrap, Sophia covers:(0:46) Sims' (ASX:SGM) share price up over 20% after strong results(1:20) Gold companies performing well as the gold price lifts (2:00) Why other major mining stocks fell(5:19) Three company results which beat broker expectations (6:14) The reporting results to watch next week(6:50) The latest unemployment rate release

The ASX200 advanced 1.1% yesterday, powered by strong earnings results from companies like CSL (ASX:CSL), Treasury Wine Estates (ASX:TWE) and Vicinity Centres (ASX:VCX). The gains managed to offset losses from major resource stocks, following falls in both iron ore and oil prices. Sectors wise, the healthcare sector led the way, supported by CSL’s strong gain, while the materials and energy sectors posted small losses.  Liontown Resources (ASX:LTR) jumped an impressive 18% yesterday, after it was announced that the company would supply Tesla with more than 100,000 tonnes of lithium spodumene concentrate a year. That’s LTR’s second major contract in two months. And six of the other best performers were companies that reported results. Meanwhile, Netwealth (ASX:NWL) came under pressure yesterday. Its share price fell nearly 10% after its results release disappointed the market. The biggest surprise was its higher-than-expected costs on new staff and technology.The three most traded stocks by Bell Direct clients yesterday were CSL (ASX:CSL), BHP Group (ASX:BHP) and Senex Energy (ASX:SXY).Moving to the US, the market was mixed, the S&P500 managed to close slightly higher, while the Dow Jones and Nasdaq both closed slightly lower. During the session, the minutes from the Fed’s January meeting were released, which to investors relief, didn’t indicate that the Fed would move any faster than already expected in hiking interest rates.Following the mixed session on Wall Street, the futures are suggesting the Aussie share market will open slightly higher this morning. What to watch today:In commodities, the gold price managed to gain 1% as the Russia-Ukraine tensions remain high. The oil price was trading higher, but is now trading down over 1% to US$90 a barrel. The lithium price is trading up 1.3% and the platinum price is also up 3.6%. While the seaborne iron ore price is trading 1.8% lower to US$142 a tonne. Economic news wise, the unemployment rate for January will be released today. As a reminder, the unemployment rate came in at 4.2% in December, which was the lowest rate in more than 13 years. And the RBA recently stated that the unemployment rate could fall to 3.75% by the end of 2023, which would be the lowest rate since 1974. So keep watch today at 11:30am AEDT. Reporting season: Today we’ll hear from companies including Wesfarmers (ASX:WES), Telstra (ASX:TLS), Whitehaven Coal (ASX:WHC), Magellan Financial Group (ASX:MFG), Newcrest Mining (ASX:NCM) and Goodman Group (ASX:GMG). GrainCorp (ASX:GNC) is holding its AGM today, while GPT Group (ASX:GPT) is set to go ex-dividend today.Trading Ideas: Bell Potter have maintained its HOLD rating on Fortescue Metals (ASX:FMG) and have increased their price target to $19.09 (previously $18.33). Bell Potter stated that FMG’s result yesterday was in-line or marginally below its expectations. And despite the cut to its interim dividend, it’s important to recognise that it was in fact FMG’s second highest ever. Bell Potter also noted that the key to closing the gap for them to upgrade FMG to a BUY remains with Fortescue Future Industries. While FFI is critical to helping FMG achieve its objective of decarbonisation by 2030, its value accretion and optionality added to the core business cannot be quantified. Trading Central has a bullish signal on Scentre Group (ASX:SCG), indicating that the stock price may rise from the close of $3.15 to the range of $3.53 - $3.63 in the next 30 days according to standard principals of technical analysis.

The ASX200 closed slightly lower yesterday, as the energy sector lost over 3%, even with the price of oil improving again yesterday. However, energy has been performing very well, so yesterday’s fall may be due to investors taking profits. A few sectors still rose, including tech, real estate, consumer staples and discretionary, communication and industrials.Sims (ASX:SGM) shares jumped 13.7% off the back of fantastic earnings report. Sales revenue was up 73.9%. Statutory EBIT up 334.9% and underlying EBIT up 541.3%, from the prior corresponding period. Seek (ASX:SEK) also advanced after reporting its earnings. Revenue was up 59% to $517.2 million and NPAT was up 32% to $88.1 million. Dexus (ASX:DXS) also gained after its earnings report.The most traded stocks by Bell Direct clients yesterday were major banks Westpac (ASX:WBC) and National Australia Bank (ASX:NAB).European and US equities both closed higher, as Russia and Ukraine tensions started to de-escalate. Russia announced it had begun returning some troops to deployment bases. In New York, the Dow jumped 400 points, closing 1.2% higher after a 3-day losing streak. The S&P500 gained 1.6% and the Nasdaq gained 2.5%.What to watch today:The SPI futures are suggesting a 0.93% rise at the open this morning.Oil has fallen from its recent peaks. After reaching over 7-year highs on Tuesday, oil is currently trading 3.8% lower at US$91.84 a barrel.The gold price has fallen after sitting at its best levels in 8-months. Gold is 1% lower at US$1,851.68 an ounce.The seaborne iron ore price is 1.3% lower at US$144 a tonne.In economic news, yesterday the RBA released its meeting minutes. There were no new surprises here. The RBA reiterated that they’ll be patient with any interest rate change. And that wages are to grow at the same pace as inflation. With this in mind, yesterday Commonwealth Bank brought forward its tip for the first rate rise of the year. CBA previously said August, however, now expect a potential hike in June, where we may see a 15-basis point lift.CSL (ASX:CSL) is reporting today, and we’ll be bringing you a full report on CSL later today.Commonwealth Bank (ASX:CBA) and Insurance Australia (ASX:IAG) are set to go ex-dividend today.Trading Ideas:Bell Potter maintain their BUY rating on Money3 Corporation (ASX:MNY), and have increased their price target from $4.35 to $4.60, after the company reported a sold half year result. MNY last closed at $3.12, implying 47.4% share price growth in a year.Trading Central have identified a bullish signal in Woolworths (ASX:WOW), indicating that the stock price may rise from the close of $34.29 to the range of $35.80 to $36.20, over 26 days, according to the standard principles of technical analysis.

Yesterday, the Aussie share market managed to claw back some of its losses from Friday, gaining 0.37%. Leading the gains were oil and gold stocks, following escalating fears of a Russian invasion of Ukraine. Looking at the sector performances, only six out of 11 sectors closed higher. The energy sector gained the most, up over 3%, while the healthcare sector declined 1.4%.  Gold miners dominated the leaderboard, including Regis Resources (ASX:RRL), Evolution Mining (ASX:EVN), and Northern Star Resources (ASX:NST). The best performing stock on the ASX200 was Beach Energy (ASX:BPT), up an impressive 9.4%, after the company reported a solid first-half result, which included a 26% increase in EBITDA to $513 million. Meanwhile, the worst performing stocks were NOVONIX (ASX:NVX), Imugene (ASX:IMU) and Liontown Resources (ASX:LTR), all falling over 7%. The most traded stock by Bell Direct clients yesterday was JB Hi-Fi (ASX:JBH). The company released strong half-results yesterday, and announced a $250m share buyback, which sent its share price up 5.4%. Bell Potter maintain their HOLD rating on the stock but have increased its price target to $51.85, from $49.60.In the US, all three benchmarks closed lower, as investors evaluate concerns about the Fed’s next plan for interest rate hikes, as well as the tensions between Russia and Ukraine. And earnings results are expected to ramp up again this week, with Nvidia, Walmart, Shopify and more scheduled to report.Following the negative session on Wall Street, the futures are suggesting the Aussie share market will open 0.9% lower this morning. What to watch today:In economic news, the RBA will release its meeting minutes for February. The RBA is currently relatively dovish on rate hikes as local inflation is not as out of control as in the other major economies. Reporting season: It’s a big week of results and today, the biggest company on the ASX, BHP Group (ASX:BHP) will release its half-year results. Stay tuned for our separate video where we’ll take you through the highlights. Some other companies reporting today include Ansell (ASX:ANN), Dexus (ASX:DXS), Sims (ASX:SGM), Adore Beauty (ASX:ABY), Elmo Software (ASX:ELO) and Seek (ASX:SEK).Computershare (ASX:CPU) is set to go ex-dividend today. In commodities, the oil price hit 7-year highs, boosted by Russia and Ukraine’s tensions. The oil price is currently trading at about US$95 a barrel. And in a similar tale, the gold price also gained and is trading about 0.6% higher to US$1,872 an ounce. The lithium, palladium and silver price are all trading higher, while the seaborne iron ore price is trading 0.5% lower to US$150 a tonne. Trading Ideas:Bell Potter have maintained its BUY recommendation on Mineral Resources (ASX:MIN) and have increased its price target by a modest 20% to $61.35. Bell Potter believe MIN’s recent financial results were significantly impacted by the large decline in realised iron ore prices, however highlighted that the business made strong progress in the quarter towards its strategic goals, including expanding its iron ore export capacity, evolving its iron ore business to a low-cost base that will make it resilient to low iron ore price environments, and lastly, MIN’s ability to capture the downstream margins in its lithium business. As for other broker’s ratings on MIN, Macquarie have an Outperform rating with a $70 price target, while Ord Minnett have a SELL rating and $45 price target. Trading Central has a bullish signal on Westgold Resources (ASX:WGX). This signal indicates that the stock price may rise from the close of $2.03 to the range of $2.29 -$2.35 in the next 40 days, according to standard principles of technical analysis. 

Despite US inflation data reaching a 40-year high, Australian shares gained for the second consecutive week. However, on Friday the ASX200 dropped 1%, with all but the materials sectors in the red. US consumer inflation for January rose 7.5%, far above the expected figure. The S&P US 2-year and 10-year treasury bond indices fell 0.5% and 1% in response. Goldman Sachs economists have increased their forecast for the Fed to hike interest rates 7 times this year, up from 5. On Friday, the RBA Governor Phillip Lowe said that if US inflation forced the Fed to raise rates faster than expected, markets are at risk of an “abrupt adjustment”. On Friday’s ASX200 leaderboard, Unibail-Rodamco-Westfield (ASX:URW) made the most gains, closing 6.5% higher, after announcing a sale and joint centre to a French shopping centre, agreeing to sell 45% of Westfield in Paris. URW also reported its full-year 2021 results, which saw “tenant sales approaching pre-COVID levels” and its portfolio was valued at €54.5 billion as of the 31st December. Meanwhile the worst performer was language testing and student placement company IDP Education (ASX:IEL), after reporting its earnings. However, Goldman Sachs were pleased with the company’s half year results and have retained their BUY rating. The most traded stocks by Bell Direct clients on Friday included CSL (ASX:CSL), AVZ Minerals (ASX:AVZ), Macquarie Group (ASX:MQG) and Westpac (ASX:WBC). US equities closed lower, as worries of an imminent Russian invasion of Ukraine add onto the list of concerns about interest rates and inflation. The S&P500 closed 1.9% lower after the White House asked all US citizens to leave Ukraine. The Dow lost 1.4% and the Nasdaq dropped 2.8%.What to watch today:Following Wall Street, the SPI futures are suggesting the ASX200 will fall 0.46% at the open this morning. In commodities, Russia is one of the world’s largest energy producers and the warning for US citizens to leave Ukraine has seen the price of oil rise 3.6%, trading at US$93 a barrel. However, oil prices have been rising before the warnings, most likely due to a statement from the International Energy Agency that oil market supplies are already tight. Gold is trading almost 2% higher at US$1,862.60 an ounce, while the seaborne iron ore price is lower at US$150.87 a tonne. Reporting season is in full swing this week, with many companies set to report their earnings results. A few reporting today include Boral (ASX:BLD) and JB Hi-Fi (ASX:JBH). Bell Potter expect Boral to report NPAT of $137.6 million and JB Hi-Fi to report NPAT of $287.9 million. Suncorp (ASX:SUN) is set to go ex-dividend today. Trading Ideas:Bell Potter have maintained their BUY rating on DGL Group (ASX:DGL) and have increased their price target from $3 to $3.50, after the company delivered half-year results well ahead of expectations. They reported first-half normalised EBITDA of $23.0 million up 139% on the prior corresponding period, significantly exceeding Bell Potter’s $17.9 million. Trading Central have identified a bullish signal in Focus Minerals (ASX:FML) indicating that the stock price may rise from the close of $0.28 to the range of $0.34 to $0.36 over 25 days, according to the standard principles of technical analysis. 

The Aussie share market rallied this week, lifting 2.36% (Mon-Thu). However, as US inflation came in at a 40-year high on Thursday evening, Aussie investors will feel the pressure on Friday.  In this week’s wrap, Sophia covers: (0:40) Why travel stocks are back in vogue(1:04) Nanosonics (ASX:NAN) falling 7% after a sales agreement revision(2:18) Opportunities in the hydrogen market(5:10) How we’re tracking so far this reporting season(6:28) Three economic news releases to watch 

Yesterday, the Aussie share market charged over 1% higher to 7,268 points. That marks a two-week high for the benchmark ASX200 index. The lift follows CBA’s strong half-year results, which also helped the other major banks post decent gains. Looking at the sector performances, the tech sector outperformed, up 4.2%, after it took a solid lead from Wall Street, while both the materials sector and energy sector posted losses, partly due to the fall we saw in the iron ore price. Computershare (ASX:CPU) lifted 11.2% after the company released a strong half-year and guidance upgrade. Imugene (ASX:IMU) also gained, after its company director acquired 15 million shares, displaying his confidence in the company. Meanwhile, Mineral Resources (ASX:MIN) dropped nearly 9% after following its mixed results that recognised a loss in both revenue and statutory profit.The most traded stock by Bell Direct clients yesterday was Fortescue Metals (ASX:FMG). Its share price fell 3.6% following the rapid decline in the iron ore price as Chinese officials step up their efforts to control the iron ore price. Also highly traded was Lake Resources (ASX:LKE), Commonwealth Bank (ASX:CBA) and CSL (ASX:CSL). In the US, all three benchmarks closed in the green, with the Nasdaq jumping as investors continued to buy the January tech dip. Tech stocks like Shopify, Etsy, Meta and Zoom all rose. And investors are now preparing for Thursday’s consumer price index report, which will give an update on the inflation picture. The result could push the Federal Reserve closer to considering its single-largest rate hike in more than two decades.Today, following the positive session over on Wall Street, the futures are suggesting the Aussie share market will open 0.31% higher this morning. What to watch today:National Australia Bank (ASX:NAB) is one to watch today when it releases its first quarter update. Bell Potter analysts are forecasting around $1.59 billion in cash earnings and 49 cents cash earnings per share.AGL Energy (ASX:AGL) is set to release its half-year 2022 results. It is widely expected that the energy company’s results will disappoint the market, after the company faced a very tough half. The analysts at Morgans are expecting AGL’s first-half earnings to sink to $97 million. Also reporting results today is ASX (ASX:ASX), AMP (ASX:AMP), Downer EDI (ASX:DOW), Mirvac Group (ASX:MGR), Cimic Group (ASX:CIM) and Unibail-Rodamco-Westfield (ASX:URW). Virgin Money UK (ASX:VUK) is set to go ex-dividend today. In commodities, the oil price remained stable at US$90 a barrel. The gold price gained 0.26% on a softer dollar and yields, while the seaborne iron ore price is trading 0.8% lower to US$147 a tonne. Trading Ideas:After its results yesterday, Bell Potter have upgraded its rating on Commonwealth Bank (ASX:CBA) from a HOLD to a BUY, and have maintained its price target at $108. While Citi has a SELL rating and $97 price target and Macquarie has a Underperform rating and $88.50 price target on the stock. Trading Central has a bearish signal on Mineral Resources (ASX:MIN). This signal indicates that the stock price may fall from the close of $52.72 to the range of $41 -$44 in the next 9 days, according to standard principles of technical analysis. 

Yesterday the ASX200 closed in the green. The materials sector made strong gains as iron ore in the spot market rose. Meanwhile tech shares declined the most, as Australia’s 10-year bond yield exceeded 2.1%, reaching the highest level since the beginning of 2019. This saw a sell-off in tech stocks, which tend to be more sensitive to interest rates.On the ASX200, travel stocks gained for a second session. Webjet (ASX:WEB), Flight Centre (ASX:FLT) and Corporate Travel Management (ASX:CTD) all made the leaderboard. Casino owner Skycity Entertainment (ASX:SKC) and Star Entertainment (ASX:SGR) also made the top 10, boosted by confidence for tourism.The most traded stock yesterday by Bell Direct clients was A2B Australia (ASX:A2B), which is home to brands such as 13cabs, Cabcharge and EFT Solutions. Its share price gained over 12% yesterday, after the departure of chief executive Andrew Skelton. The company also launched a strategic review of operations.European markets closed mixed as investors await US inflation data, out later this week, while US equities gained. The Dow closed up 1.06%, the S&P500 up 0.84 and the Nasdaq up 1.28%.The ASX200 is set open higher. The SPI futures are suggesting a 0.27% rise at the open this morning.What to watch today:In economic news, yesterday NAB’s business confidence Index for January was released, with confidence bouncing back to 3 index points, from -12 points in December. Today, Westpac’s Consumer Confidence Index for February will be released at 10:30am AEDT.The oil price has fallen to US$89.64 a barrel, as attention was turned to the Iran nuclear talks that are set to resume today.Gold is higher, trading at US$1,826 an ounce, as the dollar rebounded ahead of US inflation data later in the week.The seaborne iron ore price is trading at US$148.83 a tonne.Commonwealth Bank (ASX:CBA) reported its half-year results this morning, delivering strong financial and operational performance. Statutory NPAT increased by 26% and CBA declared a $1.75 fully franked interim dividend, up 17% from this time last year. Look out for our full report on CBA later today.Other companies reporting their earnings results today include Centuria Capital Group (ASX:CNI), Dexus (ASX:DXS), Mineral Resources (ASX:MIN) and Northern Star Resources (ASX:NST).ResMed (ASX:RMD) is set to go ex-dividend today, which may see its share price fall as investors take their profits.Trading Ideas:Bell Potter and Macquarie have different views on global mining-tech company Imdex (ASX:IMD), after the company reporting its earnings this week. Half-year revenue is up 35% to $167.8 million and NPAT is up more than 80% at $24.4 million. And Imdex declared a fully franked interim dividend of 1.5 cps. Following the report, Bell Potter have downgraded IMD from a BUY to a HOLD, maintaining a $3 price target. On another note, Macquarie retain their Outperform rating on IMD and have increased their price target from $2.90 to $3.30. IMD’s revenue and earnings beat Macquarie’s expectations by 13%.Trading Central have identified a bullish signal in Mincor Resources (ASX:MCR), indicating that the stock price my rise from the $1.71 to the range of $2.06 - $2.14, within 18 days, according to the standard principles of technical analysis.

Yesterday, the Aussie share market posted a small loss of 0.13%, in what was a choppy session. ANZ reported worse-than-expected first quarter margins, which saw its share price decline nearly 2% and the Australian government announced that our international COVID-19 border closures would end on February 21. Looking at the sector performances, the energy sector outperformed, up 1.6%, benefitting from the recent gains in both oil and gas commodity prices, while the healthcare sector led the losses, down 1.3%.GrainCorp (ASX:GNC) led the way, rising an impressive 12.3%, after revealing that it’s expecting a favourable outlook for financial year 2022. And travel stocks were back on top following the government’s announcement that Australians would be welcoming back international travellers later this month. Flight Centre (ASX:FLT), Corporate Travel Management (ASX:CTD), Webjet (ASX:WEB) and Qantas (ASX:QAN) all gained more than 4%. Meanwhile, Magellan Financial Group (ASX:MFG) declined 11%, after it was announced that its director and chairman, Hamish Douglass would be taking a leave of absence.The most traded stock by Bell Direct clients yesterday, was iron ore miner Champion Iron (ASX:CIA). Its share price fall may have been because the company traded ex-dividend yesterday. As a reminder, a company’s share price typically drops by the amount of the dividend paid to reflect the fact that new shareholders are not entitled to that payment.In the US, both the S&P500 and Nasdaq started the week on a negative note as quarterly results continued to be a source of volatility, and as investors await key US inflation data on Thursday. The Dow closed flat, the S&P500 down 0.37% and the Nasdaq also down 0.58%. And Facebook-parent Meta shares have fallen another 5%, continuing its post-earnings slide. Today, following the negative session over on Wall Street, the futures are suggesting the Aussie share market will open 0.16% lower this morning. What to watch today:In economic news, business confidence data for January will be released this morning, which will provide further detail on how business confidence is holding up during the Omicron outbreak. Trading Economics expects today’s reading for January to come in at -14.  Suncorp (ASX:SUN) will be on watch today as the company is set to release its half-year results. Bell Potter currently has a BUY rating on the stock and is expecting NPAT to come in at $267.6m. While consensus is expecting a more modest NPAT of $290.5m.  Also reporting results today is Shopping Centres Australasia Property Group (ASX:SCP), G.U.D Holdings (ASX:GUD) and Charter Hall Long Wale REIT (ASX:CLW). Keep an eye on Macquarie Group (ASX:MQG) as the company will be releasing its operational briefing today which will include an update on the investment bank’s performance during the third quarter of financial year 2022. In commodities, the oil price fell following signs of progress in the US-Iran nuclear talks. The WTI crude oil price dropped nearly 1% to US$91.51 a barrel. On the flip side, the gold price climbed to a more than one-week high, as inflation risks boost the safe-haven’s appeal. And the seaborne iron ore price is trading 3.2% higher to US$150 a tonne. Trading Ideas: Bell Potter has upgraded its rating on software company Altium (ASX:ALU) from a HOLD to a BUY, and have decreased its price target by 11% to $40. Bell Potter believe potential catalysts for the stock include 1) a strong first-half financial year 2022 result, 2) an upgrade in its financial year 2022 guidance and 3) a renewed and increased takeover offer from Autodesk. Now ALU last closed at $34.50, so that implies about 16% share price growth in a year.Trading Central has a bullish signal on Insurance Australia Group (ASX:IAG). This signal indicates that th

On Friday, the local market ended a three-week losing streak, with 10 of the 11 industry sectors rising higher. The ASX200 gained 0.6% on Friday, as reporting season kicked off.Liontown Resources (ASX:LTR) gained over 6%. After the market close on Thursday, the company announced the completion of its share purchase plan (SPP). News Corp (ASX:NWS) reporting its highest earnings since its separation from 21st Century Fox in 2013. NWS gained 5.7%. Meanwhile, Seek (ASX:SEK) declined the most, after Goldman Sachs reiterated its SELL rating and decreased its price target by 15% to $27.30.  The most traded stock by Bell Direct clients was Seven West Media (ASX:SWM). On Friday, UBS reiterated its BUY rating on SWM, with a $0.95 price target. Other highly traded stocks included a few ETFs, such as HLTH, VAS and VETH. While clients also traded CSL (ASX:CSL), BHP Group (ASX:BHP), Australia and New Zealand Banking Group (ASX:ANZ), BrainChip (ASX:BRN), Westpac (ASX:WBC) and Adelaide Brighton Cement (ASX:ABC).In the US, we saw Facebook suffer the largest share market hit, by value and points, in market history. Facebook’s parent company Meta’s stock price fell by 27% in one day, equivalent to over US$230 billion in lost value. In the following session on Friday, the tech sector recovered the losses led by Facebook, by a 13.5% surged in Amazon. Amazon reported strong quarterly earnings, which also saw the company largest one-day gain since 2015. The S&P500 and the Nasdaq ended their best week of the year, while the Dow Jones closed slightly in the red.The SPI futures are suggesting the ASX200 will fall 0.58% at the open.What to watch today:The oil price has surged higher, trading at US$91.93. US crude prices hit their highest price since September 2014, at US$93 per barrel, following a large storm that swept across the US and disrupted some oil production in the Permian Basin region. Additionally, OPEC stuck to its plan to gradually release more barrels into a strengthening market.The price of gold is trading higher at US$1,807 an ounce.While the seaborne ire ore price is lower at US$145 a tonne.Australia and New Zealand Banking Group (ASX:ANZ) and James Hardie (ASX:JHX) will report their quarterly results, and Argo (ASX:ARG) and Imdex (ASX:IMD) will report their half year results.Iron ore miner Champion Iron (ASX:CIA) is set to go ex-dividend today.Trading Ideas:Bell Potter have upgraded Pro Medicus (ASX:PME), a leading heath imaging IT provider, from a HOLD to a BUY, and have amended their price target to $55 from $62. The broker expects PME to deliver strong earnings growth at the upcoming reporting. PME last closed at $45.58, implying 20.7% share price growth in a year.Trading Central have identified a bullish signal in Australian Clinical Labs (ASX:ACL), indicating that the stock price may rise from the close of $5.08 to the range of $6.00 to $6.20, within 17 days, according to the standard principles of technical analysis.

The Aussie share market has managed to post an impressive gain of 1.3% this week (Mon-Thu). Leading the gains were the energy and the utilities sectors, while the tech sector declined slightly.  In this week’s wrap, Sophia covers: (0:28) Nufarm (ASX:NUF) gaining after posting revenue growth in Q1(1:16) Why Ansell (ASX:ANN) experienced a large sell-off(2:04) The ETFs Bell Direct clients were trading this week(3:36) What to expect this reporting season(6:05) Two economic news releases to watch Access Bell Direct's reporting season calendar here.

Yesterday, the Aussie share market continued its positive streak in February, closing 1.2% higher to pop back over 7,000 points. We also heard from RBA Governor Philip Lowe, who stated that a rate rise later this year was a plausible situation. And BHP (ASX:BHP) once again became the largest company on the Aussie share market after officially completing the unification of its Australian and UK listings. In sector performances, nearly all sectors closed in the green, with the energy and materials sectors gaining the most. On the ASX200 stock leader board, eight mining stocks were amongst the best performers. Auckland International Airport (ASX:AIA) pushed 5.4% higher and Worley (ASX:WOR) gained about 5%, benefiting from surging oil prices. Meanwhile, the worst performing stocks included Credit Corp Group (ASX:CCP), Block (ASX:SQ2) and Amcor (ASX:AMC). Amcor fell 3.5% despite announcing a 12% jump in its first-half sales. The most traded stocks by Bell Direct clients yesterday included software company BrainChip (ASX:BRN), which topped the list, lifting over 6% after announcing the receipt of another patent in the US. Another highly traded stock was Mineral Resources (ASX:MIN), its share price gained 2.2% after the company reported that the Western Australian government is set to increase iron ore export capacity at the Port of Port Hedland.In the US, stocks rose for the fourth straight day, the Dow jumping over 200 points, the S&P500 climbing nearly 1% and the Nasdaq pushing 0.5% higher. The stock that led the gains was Alphabet, after its quarterly results beat analyst expectations. And Facebook-parent Meta shares have tumbled more than 15% in extended trading after a disappointing earnings report was released, where they also gave a weaker than expected forecast.Today, the futures are suggesting the Aussie share market will open 0.09% higher this morning. What to watch today:In economic news, Australia’s balance of trade data for December will be released today. That’s the difference between what we export vs. what we import. Australia’s trade surplus declined to 9.42 billion in November, that was our smallest trade surplus since April. Westpac (ASX:WBC) will be on watch today as the company has released its first quarter update this morning. The company delivered first quarter cash earnings of $1.58 billion, which while does represent growth, does fall short of Bell Potter’s forecasting of $1.82 billion. Aggressive competition also continued to weigh on margins.Nick Scali (ASX:NCK) will be releasing its first quarter 2022 results today. Bell Potter has a BUY rating on the stock and is expecting NPAT to come in at $29.1m, while consensus expects a slightly more modest NPAT of $30.5m. Moving to commodities, OPEC have decided to green-light the return of 400,000 barrels per day for March, despite pressure from the US and India. The gold price gained as the US dollar and Treasury yields fell, following a disappointing ADP jobs report, where companies unexpectedly cut 301,000 jobs in January. And the seaborne iron ore price is trading 0.86% higher to US$140 a tonne. Trading Ideas:Bell Potter has upgraded its rating on Select Harvests (ASX:SHV) from a HOLD to a BUY with a price target of $7.10. This comes as SHV’s share price has fallen about 40% from its September 2021 highs and Bell Potter believe that the stock is trading at a modest discount. SHV last closed at $5.65, so that implies about 26% share price growth in a year.Trading Central has a bullish signal on Orica (ASX:ORI). This signal indicates that the stock price may rise from the close of $14.50 to the range of $15.30-$15.50 in the next 33 days, according to standard principles of technical analysis. 

Yesterday local shares rose 0.5% after the RBA, in its first meeting of the year, formally ended its quantitative easing program, as inflation rises faster than expected. This was the bond buying program introduced in late 2020, as an emergency measure during the pandemic, which kept bonds anchored near record lows, to help keep borrowing costs for households and businesses low. And as expected, the central bank also held the interest rate at 0.1%. Yesterday 10 of the 11 industry sectors closed with gains. However, the market was weighed by losses in materials, as the price of iron ore declined. This saw BHP (ASX:BHP), Rio Tinto (ASX:RIO) and other mining stocks among the worst performers. Meanwhile ASX tech stocks were the top performers, as the Nasdaq rebounded and Block (formally known as Square), officially took over Afterpay. Appen (ASX:APX) lead the gains, up almost 8%. Block (ASX:SQ2) and Zip (ASX:Z1P) were also among the top 10. The most traded stocks by Bell Direct clients yesterday included BHP (ASX:BHP) and Vanguard ETFs (ASX:VAS) and (ASX:VGS). European stocks started February on a positive note, and US stocks rose for the third day, extending the market’s comeback from the sell-off we saw in January. The Dow was up 0.8%, the S&P500 up 0.7% and the Nasdaq up 0.8%. Aussie shares are set to open higher. The SPI futures are suggesting a 0.68% rise at the open this morning. What to watch today:Amcor (ASX:AMC) will report its results today.Prospects of rising demand as economies recover, and concerns over tight supplies continue to support the oil market. Oil prices are at 2014 highs and increased 17% in January, which is the strongest gain since February 2021. The price of oil is currently trading higher, above US$88 a barrel.Gold prices also edged higher for a second consecutive session, trading above US$1,800 an ounce. Gold lost almost 1.7% in January, mostly due to a general dollar weakness. The copper price also rose amid a weaker dollar.Iron ore has rebounded. Spot prices of iron ore are up with rising imports from China. The seaborne iron ore price is over 7% higher, trading at US$138 a tonne. Today at 12:30pm AEDT, the RBA Governor Philip Lowe will speak on the year ahead. The RBA has said that until annual wage growth nears 3%, interest rates won’t be lifted. Annual inflation is between the RBA’s 2-3% target but aren’t too convinced it will stay there. In terms of interest rates, the central bank is not in a hurry to make changes. Trading Ideas:Bell Potter maintained their BUY rating on Bathurst Resources (ASX:BRL) and have increased their price target from $0.98 to $1.25. BRL last closed at $0.77, implying 57% share price growth in a year. Trading Central have identified a bullish signal in De Grey Mining (ASX:DEG), indicating that the stock price may rise from the close of $1.18. So we may see higher prices at least in the short term. 

Yesterday, the Aussie share market closed 0.24% lower to 6,971 points in what was a choppy session for the benchmark index. For the month of January, the ASX200 posted a 6.3% loss, its biggest monthly drop since COVID-19 first hit nearly two years ago.Looking at sector performance, the market was mixed. The tech sector managed to post an impressive gain of 3.7%, while the financials and consumer staples sectors fell the most.On the ASX200 stock leader-board, six tech stocks led the gains, all enjoying a boost following Wall Street’s strong session on Friday. Afterpay’s parent, Block (ASX:SQ2) jumped 8.1% to $161.41, that’s its biggest one-day gain since it began trading on January 20, but still lower than its opening price of $176.63. Meanwhile, Ansell (ASX:ANN) took a 14.3% hit to its share price following an underwhelming trading update where the company blamed declining demand for single-use gloves and a margin crunch for the profit downgrade. Citi maintained its BUY recommendation on the stock but has reduced its price target to $37.50 (from $45.50). And another stock coming under pressure was NIB Holdings (ASX:NHF) and that comes after JP Morgan slashed its price target by 12% to $6.10. As for the most traded stocks by Bell Direct clients yesterday, there were several ETFs that made the top ten. These included the BetaShares A200 and NDQ, Vanguard’s VAS and VGS, as well as ETF Securities’ Battery Tech & Lithium ETF (ASX:ACDC). Also gaining traction yesterday was Rio Tinto (ASX:RIO). Its share price came under pressure amid a renewed focus on the miner’s unresolved royalty dispute with Traditional Owners.Moving to the US, tech stocks boosted both the Nasdaq and S&P500, while the Dow managed to gain about 400 points. Netflix and Spotify surged more than 10% and 12% respectively following upgrades from Citi, who cited last month’s pullback as an attractive time to buy. And Tesla also gained 8% on Monday after Credit Suisse upgraded the stock.Today, the futures are suggesting the Aussie share market will open 0.26% higher this morning.What to watch today:The key focus will be on the RBA as it meets for the first time this year. While a rate rise isn’t expected, the RBA could hint that one is nearer than it previously thought. Economists are expecting that the RBA will end its monetary stimulus, upgrade its economic forecasts, and potentially bring forward its interest-rate guidance during this meeting. Also out today, is preliminary retail sales for December.Reporting season wise, Credit Corp (ASX:CCP) will be releasing its half year results. Consensus expects the company will deliver NPAT of $42.7m and an interim dividend of 38 cents per share. Other stocks reporting include Centuria Industrial REIT (ASX:CIP) and Vulcan Energy Resources (ASX:VUL).In commodities, the oil price continues to rise, trading close to US$90 a barrel, off the back of both political tensions and a supply shortage. The gold price also rose, despite expectations for interest rate hikes by the Federal Reserve. The lithium price is trading up 2.7%. And the spot iron ore price is trading nearly 6% higher to US$143 a tonne.Trading Ideas:Bell Potter has maintained its speculative BUY recommendation on leading Australian producer of goat dairy products, Bubs Australia (ASX:BUB) with an increased price target of $0.70 (previously $0.65). BUB closed 5.62% higher yesterday to $0.47, which implies nearly 50% share price growth in a year.Trading Central has a bullish signal on PointsBet (ASX:PBH). This signal indicates that the stock price may rise from the close of $4.86. The balance between buyers and sellers, recently dominated by the bears, is evening out. So, we may see higher prices ahead.

After broad selling across the market as the US Fed signalled rate rises, the local market rebounded on Friday, ending the week on a positive note. The market was boosted by positive earnings results in the US, with Atlassian and Apple providing strong quarterly earnings. The ASX closed over 2% higher, with Imugene (ASX:IMU) in the lead. The biotech company gained 10.5% to $31.50, after announcing a new supply agreement with Swiss pharmaceutical company Roche. Meanwhile, gold miners were among the worst performers on Friday, as the price of gold dropped below US$1,800 an ounce. Ramelius Resources (ASX:RMS) fell to a 4-month low, down 8%, while Newcrest Mining (ASX:NCM) fell 6.4%. Both companies also reported quarterly results on Friday. The most traded stocks by Bell Direct clients on Friday included BHP (ASX:BHP) and Rio Tinto (ASX:RIO) as the price of iron ore edged higher, in preparation for an increase in demand following the Beijing Winter Olympics. European stocks saw their fourth straight week of losses, while US equities ended the week with gains. The Dow had its best day of 2022, up 1.65%. The S&P500 added 2.4% and Wall Street also saw a tech-led rally, with the Nasdaq gaining over 3%. Despite the rally on Wall Street, the SPI futures are suggesting the ASX200 will drop 0.23% at the open this morning. What to watch today:Oil is trading above US$87 a barrel, supported by fears of supply disruptions due to geopolitical risks in Ukraine. Additionally, the market is awaiting OPEC’s meeting next week. So watch energy producers Woodside Petroleum (ASX:WPL) and Santos (ASX:STO). The gold price has dropped below US$1,800 an ounce as the dollar and treasury yields jumped following the Fed’s hawkish updates. The seaborne iron ore price is higher, trading above US$130 a tonne. Pilbara Minerals (ASX:PLS) will release their second quarter update today. We will be looking at whether the company achieved its shipment guidance, as well as pricing with reports of record lithium price levels.Gold Road Resources (ASX:GOR) will release its quarterly production report and IGO (ASX:IGO) will release its earnings result. Trading Ideas:Bell Potter maintain their BUY rating on National Australia Bank (ASX:NAB) with a $31 price target. NAB last closed at $27.25, implying 13.8% share price growth in a year. Trading Central have identified a bullish signal in Breville (ASX:BRG), indicating that the stock price may rise from the close of $27.52 to the range of $32.75 - $34.00. The pattern formed over 18 days which is roughly the period in which the target price range may be achieved, according to standard principles of technical analysis.

The Aussie share market took a dive this week, falling 4.7% (Mon-Thu), amid rising inflation, the global spread of the Omicron variant, and the risk that Russia will invade Ukraine.In this week’s wrap, Sophia covers:- (0:31) Codan (ASX:CDA) delivering a positive trading update- (0:56) Why Adairs (ASX:ADH) lost 27%- (1:27) The stocks Bell Direct clients were trading the most- (1:50) The value of having a longer-term investment view- (4:45) Three important economic news items coming up

Yesterday the ASX was closed for the Australia Day Public Holiday. On Tuesday however, Australian shares tumbled and the ASX200 closed 2.5% or 177.9 points lower. This was the second biggest sell-off this year, with an inflationary shock as CPI came in ahead of consensus and fears about higher interest rates, as well as the invasion of Ukraine. All sectors were in the red, with energy declining the most. The best performer was Codan (ASX:CDA), a manufacturer and supplier communications equipment. Its share price advanced 16.9% after reporting a record first-half result. Revenue increased 32% and net profit increased 21%. Meanwhile, miners Liontown Resources (ASX:LTR) and Chalice Mining (ASX:CHN) were the worst performers on Tuesday. The most traded stocks by Bell Direct clients on Tuesday included major banks National Australia Bank (ASX:NAB), Australia and New Zealand Banking Group (ASX:ANZ) and Westpac (ASX:WBC). Followed by CSL and Telstra (ASX:TLS). European stocks closed higher as investors waited for the latest monetary policy announcement from the US Federal Reserve. However, US equities fell in a volatile session after the Federal Reserve Chairman Jerome Powell said there is “quite a bit of room” to raise interest rates before it would harm the economy. Traders took the comments to mean the central bank may be aggressive in tightening policy, and the benchmark 10-year Treasury yield climbed over 1.8%. The Fed has now signalled that it could start raising interest rates in March. The central bank said in a statement that “with inflation well above 2% and a strong labor market, the Committee expects it will soon be appropriate to raise the target range for the federal funds rate.” Following Wall Street, the SPI futures are suggesting the local market will fall 0.3% at the open. What to watch today:The oil price extended gains, trading above US$87 a barrel on Wednesday, the highest since October 2014. Investors remain concerned about supply and the possibility of energy disruptions if Russia is to invade Ukraine. The price of gold has tumbled, trading below US$1,820 an ounce, amid a stronger dollar after Powell’s comments. The seaborne iron ore price is trading above US$129 a tonne. In economic data, on Tuesday Australia’s consumer price index for the December quarter surged 3.5% year-on-year, ahead of consensus and the RBA’s own forecasts. And today, import and export prices will be released at 10:30am AEDT. Trading Ideas:Bell Potter maintain their BUY rating on Australia and New Zealand Banking Group (ASX:ANZ), and have increased their price target from $30 to $31. ANZ last closed at $26.77, implying 11.6% share price growth in a year. Trading Central have identified a bullish charting signal in COG Financial Services (ASX:COG), indicating that the price may rise from the close of $1.45 to the range of $1.73 to $1.79. The pattern formed over 147 days which is roughly the period of time in which the target price range may be achieved, according to standard principles of technical analysis. 

Yesterday, the ASX200 closed 0.5% lower to 7,139 points, and it was the technology, utilities and mining stocks that were hit the hardest. On the flip side, the real estate sector managed to post a 1.45% gain. The best performing stock was Uniti Group (ASX:UWL), up an impressive 9.3% after it was revealed that multiple approaches have been made towards the company, suggesting an interest in acquiring UWL. Goodman Group (ASX:GMG) was also on the rise, closing 3.5% higher following a broker note out from Macquarie. The broker expects that GMG could upgrade its FY2022 guidance in its half-year results, set to be released on the 17th of February. Macquarie has an Outperform rating and an increased price target to $26.63. Meanwhile Regis Resources (ASX:RRL) led the losses, falling 14.3% after cutting its full-year production guidance because of a geotechnical incident at its Rosemont mine and other operational challenges. Other stocks coming under pressure included Imugene (ASX:IMU), Life360 (ASX:360), and Liontown Resources (ASX:LTR).In the US, it was a very choppy session, with the Dow plunging over 1,000 points during the session, however managed to make a remarkable comeback to close in the green, up 0.29%. The S&P500 lifted 0.28% and the Nasdaq up 0.63%. Investors began the session dumping tech shares, as they have all month, however those shares rebounded as the day went on with Meta, Amazon and Microsoft closing higher. And it’s expected on Wednesday that the Fed will signal its plans on when it will raise rates, after its two-day meeting.Now, despite the comeback in the US, the futures are suggesting the Aussie share market will open 1.30% lower this morning. What to watch today:Q4 production reports will be released by Beach Energy (ASX:BPT), Fortescue Metals (ASX:FMG), Iluka Resources (ASX:ILU), Mineral Resources (ASX:MIN) and St Barbara (ASX:SBM).The latest consumer inflation report is out this morning. A high reading could force the RBA to raise interest rates earlier. Also out today, is Business Confidence for December. The oil price fell 1.5% off the back of a stronger dollar and concerns over the possibility of quicker than expected increases to interest rates by the Fed.While the gold price gained 0.6% to US$1,843 per ounce as Ukraine tensions boost the safe-haven’s appeal.The spot iron ore price traded flat at US$133 a tonne. Paradigm Biopharmaceuticals (ASX:PAR) is holding its AGM today.Trading Ideas:Bell Potter has maintained its BUY recommendation on Australia’s largest horticultural company, Costa Group (ASX:CGC) with a price target of $3.85. CGC closed 1.7% higher yesterday to $2.94, which implies 31% share price growth in a year. Trading Central has a bullish signal on Straker Translations (ASX:STG). This signal indicates that the stock price may rise from the close of $1.50 to the range of $1.78 - $1.86 in the next 24 days, according to standard principles of technical analysis. 

Last Friday, we saw the Aussie share market fall 2.3%, its biggest, single-day decline in two weeks and largest weekly loss since October 2020. It was a very broad selloff, with all sectors closing in the red.Boral (ASX:BLD) was up 2% despite no news out from the company. Some mining stocks also performed well, including Gold Road Resources (ASX:GOR) and Northern Star Resources (ASX:NST).Meanwhile, Paladin Energy (ASX:PDN) fell a hefty 11% and Zip (ASX:Z1P) continued to come under pressure, falling 7.8%, now at a 52-week low of $3.33. The most traded stocks by Bell Direct clients last Friday included BHP (ASX:BHP) which fell 4.8% last Friday, despite the company announcing the completion of the shareholder vote on its unification. BHP will now seek approval from the UK courts. And if everything goes to plan, the unification will be complete on the 31st of January, meaning its UK-listed shares will stop trading at the close of trade next Friday, the 28th of January. In the US, all three benchmarks lost ground, the Nasdaq down the most, falling 2.7%. That it’s biggest weekly loss since October 2020. The Dow fell 450 points and the S&P500 slid 1.9%. This week, all eyes will be on Apple, Microsoft, and Tesla, who are set to post their earnings, as well as the Fed who will hold their two-day meeting in the middle of the week where conversations around rates will be important for the market to digest.Following the negative session in the US, the futures are suggesting the Aussie share market will open 0.69% lower this morning. What to watch today:Fortescue Metals (ASX:FMG), following its late announcement last Friday that revealed the company had signed an agreement with China’s state-owned Sinosteel.South32 (ASX:S32) and Pilbara Minerals (ASX:PLS) will release their Q4 production reports. Economic news wise, the manufacturing and services flash PMI will be released this morning. Oil prices fell for the second day in a row on Friday, following an unexpected rise in US crude and fuel inventories, while investors took profits after both benchmarks touched seven-year highs earlier in the week.The gold price fell slightly to US$1,834 per ounce. And the lithium price lifted 2.4% to a record high. Capital market company, Mirrabooka Investments (ASX:MIR) and Thorn Group (ASX:TGA) are going ex-dividend today. Trading Ideas:Bell Potter has maintained its BUY recommendation on metallurgical coal producer, Coronado Global Resources (ASX:CRN) with a price target of $1.70. Bell Potter believe CRN is highly leveraged to the current strength in seaborne and US domestic met coal markets and is now generating significant free cash flow. Trading Central has a bullish signal on manganese producer Element 25 (ASX:E25). This signal indicates that the stock price may rise from the close of $1.47 to the range of $1.92 - $2.02 in the next 10 days, according to standard principles of technical analysis. 

The Aussie share market declined 0.7% this week (Mon-Thu), weighed down by the tech sector. Meanwhile, the energy, materials and the consumer discretionary sectors were in the green.  In this week’s wrap, Sophia covers: (0:34) HUB24 (ASX:HUB) advancing after its positive Q2 update(1:29) BrainChip (ASX:BRN) continuing to shine, up 30%(1:50) The stocks Bell Direct clients were trading this week(2:12) What's happening in the lithium market, plus stocks to watch(4:54) Four important economic news items coming up 

Yesterday the Aussie share market followed Wall Street’s lead, closing 1% lower, with the tech sector weighing down on the market the most. All four of the banks closed lower, with CBA posting the biggest loss, down 1.5%. Only the energy and utilities sectors managed to post small gains.  On the ASX200 stock leaderboard, the best performing stock was artificial intelligence company, Appen (ASX:APX), up 3.9%. Harvey Norman (ASX:HVN) also performed well, gaining 3.2% after Credit Suisse upgraded the stock from neutral to outperform with a 3% increase in its price target to $5.62.  Meanwhile, Megaport (ASX:MP1) came under pressure yesterday, amid broad weakness in the tech sector, but also as investors were underwhelmed by its second quarter results update. The company reported a quarter-on-quarter increase of just 7% in its monthly recurring revenue (MRR) to $9.2 million. Some of the other worst performers included NOVONIX (ASX:NVX) and Allkem (ASX:AKE).The most traded stocks by Bell Direct clients yesterday, once again software company, BrainChip (ASX:BRN) has made the list. The company is up a massive 213% so far this year, and pushed higher yesterday, following the announcement of another granted patent. The company now holds a significant market cap of over $3.5 billion. Other top traded stocks included Lake Resources (ASX:LKE), Fortescue Metals (ASX:FMG), CSL (ASX:CSL) and James Hardie (ASX:JHX).In the US, all three benchmarks pulled back, despite several strong earnings reports, from companies such as Bank of America, Morgan Stanley, and Procter & Gamble. It comes as investors remain cautious amid elevated government bond yields. The 10-year Treasury yield topped 1.9% during the session, its highest level since December 2019. This session ended with the Dow falling over 300 points, the S&P500 down 1% and the tech-heavy Nasdaq closing 1.2% lower.For today, despite the negative session in the US, the futures are suggesting the Aussie share market will open 0.14% higher.What to watch today:Block (ASX:SQ2) joins the ASX today, trading on a deferred settlement basis, replacing Afterpay, which has now officially been removed from the Aussie share market. In the US, Block’s share price closed 1.43% lower on Wednesday. In economic news, yesterday consumer confidence for January fell 2% to 102.2, which was surprisingly solid, given the rapid spread of the Omicron variant. And today, the unemployment rate for December will be released. As a reminder, the unemployment rate came in at 4.6% in November. Consensus expects December’s reading to fall to 4.5%. In commodities, oil prices lifted for the fourth day to a 7-year high, as an outage on a pipeline from Iraq to Turkey added to the tight supply outlook. The WTI crude oil price is currently up 1.18% to US$86.58 a barrel. The gold price lifted 1.5% to US$1,840 per ounce. The seaborne iron ore price is trading slightly lower at US$127 a tonne. And the silver, copper and platinum prices are all trading between 1.5% to 4.5% higher.Both BHP Group (ASX:BHP) and Centuria Industrial REIT (ASX:CIP) are holding their AGM today. Trading Ideas:Citi has maintained its BUY recommendation on global lithium chemicals company, Allkem (ASX:AKE), with an increased price target of $13.40 (previously $12). Separately, Bell Potter has a HOLD rating on AKE with a price target of $11, while Credit Suisse has an Outperform rating and a price target of $13.70. Trading Central has a bullish signal on Orica (ASX:ORI). This signal indicates that the stock price may rise from the close of $13.92 to the range of $17.50 - $18.40 in the next 80 days, according to standard principles of technical analysis. 

The local market closed 0.1% lower yesterday. While materials lead the market, the healthcare sector declined the most. Biotech company Imugene (ASX:IMU) rallied 7%, closely followed by JB Hi-Fi (ASX:JBH), who reported a better-than-expected first-half trading update. Total sales managed to rise, while net profit fell 9.5%. JBH closed yesterday at $49.84 and Bell Potter maintain their HOLD rating on the stock, while Morgans upgraded from a HOLD to an ADD. Pointsbet (ASX:PBH), Virgin Money (ASX:VUK) and Zip (ASX:Z1P) were among the worst performers yesterday. Some of the most traded stocks by Bell Direct client yesterday included Lake Resources (ASX:LKE), APA Group (ASX:APA) and BrainChip (ASX:BRN). European stocks closed lower as investors reacted to developments in the oil and bond markets. Oil and gas shares gained the most, off the back of a surge in oil prices amid rising tensions in the Middle East. And global markets have been watching the Fed, as they’re expected to hike interest rates and tighten monetary policy. And as US bond yields rose on Tuesday, the tech sector suffered. The Nasdaq down 2.3%, its lowest level in 3-months and down 10% from its most recent high. The Dow was down 1.4% and the S&P500 down 1.7%. The US market was weighed down by Goldman Sachs shares, which dropped 7% after the bank reported fourth-quarter earnings which missed analyst expectations. Meanwhile, the 10-year yield rose to a 2-year high. Following New York, the SPI futures are suggesting the local market will fall 1.04% at the open. What to watch today:Oil is trading higher at US$86 a barrel, boosted by tight supply and geopolitical tensions in the Middle East. Gold is trading slightly lower at US$1,813, easing from recent highs after the 10-year Treasury yield rose to pre-pandemic highs this week. The seaborne iron ore price is trading 1.2% higher at US$127 a tonne. Economic data to look out for today is the consumer confidence index for January, which will be released at 9:30am this morning. It’s expected to decline amid concerns of the rapidly spreading Omicron variant. BHP (ASX:BHP), Lynas Rare Earths (ASX:LYC) and Woodside Petroleum (ASX:WPL) are set to release their fourth quarter production reports today. Alternative Investment Trust (ASX:AIQ), Kelly Partners Group (ASX:KPG), and Plato Income Maximiser (ASX:PL8) and set to go ex-dividend today.Trading Ideas:Bell Potter maintain their BUY rating on Life360 (ASX:360) and have decreased their price target from $16.25 to $15. Next Thursday Life360 will report and Bell Potter expect the company to have achieved all key 2021 guidance metric. Trading Central have identified a bullish signal in NOVONIX (ASX:NVX). This bullish signal indicates that the stock price may rise from the close of $10.21 to the range of $14.50 - $15.50. The pattern formed over 34 days which is roughly the period of time in which the target price range may be achieved, according to standard principles of technical analysis.

Yesterday, the Aussie share market pushed 0.3% higher, supported by both the consumer discretionary and energy sectors. All eyes were on China, as we found out that China's economy grew 4% in the fourth quarter from a year earlier, faster than expected but its weakest expansion in one and a half years. The consumer discretionary sector advanced the most, led by Wesfarmer’s gain following its trading update before the market opened. The group's performance for the half was supported by pleasing results in Bunnings and Wesfarmers Chemicals, Energy & Fertilisers, while results in Kmart Group and Officeworks were impacted by COVID-related disruptions and costs. The worst performing sector was the materials sector, and we saw mining giants BHP Group (ASX:BHP) and Rio Tinto (ASX:RIO) come under pressure, down 1.14% and 0.52% respectively.  Looking at the ASX200 stock leaderboard, two of Australia’s best-known fund managers were among the day’s top performers, Pendal Group (ASX:PDL) and Magellan Financial Group (ASX:MFG). Pendal Group led the way, up 7.8% following a statement that its chairman, James Evans would step down. Remember however, that last Friday Pendal fell 15.8% after a dip in funds under management. The second-best performer was Adbri (ASX:ABC), up 7.2% after announcing an extension of its lime supply contract with Alcoa. Meanwhile, Perseus Mining (ASX:PRU), Paladin Energy (ASX:PDN) and Liontown Resources (ASX:LTR) were down the most.  The most traded stocks by Bell Direct clients yesterday included Liontown Resources (ASX:LTR), Telstra (ASX:TLS) and BrainChip (ASX:BRN). Beach Energy (ASX:BPT) lifted 3.9%, trading at levels not seen since October last year, supported by the oil price surging higher recently. The US market was closed on Monday for the Martin Luther King Junior holiday. In Europe, stocks closed higher on Monday as investors digested a string of corporate news and the latest growth data out of China. Credit Suisse was involved in a scandal whereby its chairman resigned after breaking COVID quarantine rules. Overall, we saw the German DAX close 0.32% higher, the FTSE up 0.91% and the STOXX600 rise 0.7%.For today, in line with the positive session across the sea in Europe, the futures are suggesting the Aussie share market will open 0.30% higher. What to watch today:Rio Tinto (ASX:RIO) has just released its fourth quarter update. Its Chief Executive said despite the operating conditions remaining challenging in 2021, due to COVID-19 disruptions, the business continued to experience strong demand for its products and continued to progress several of its projects. Now Goldman Sachs expected iron ore shipments of 88.9Mt and 133kt of mined copper for the quarter. Rio has announced results that fall short of these expectations. Iron ore shipments of 84.1Mt and 132kt of mined copper. So keep watch of the stock, as it may come under pressure after falling short of these expectations. Other companies releasing their fourth quarter results today include: Galaxy Resources (ASX:GXY) and Orocobre’s merger, Allkem (ASX:AKE), and petroleum company, Ampol (ASX:ALD).Oil prices edged higher as investors bet that supply will remain tight despite restrained output by major producers. The WTI crude oil price is currently up 0.54% to US$84.27 a barrel, that’s a 7-year high. The gold price held steady at US$1,818 per ounce. And the seaborne iron ore price is trading 1.25% lower, at US$126 a tonne.Trading Ideas: Firstly, Bell Potter have maintained their BUY recommendation on City Chic Collective (ASX:CCX). The retail clothing company recently released its preliminary unaudited first half 2022 results and two of the key highlights included: (1) strong first half 2022 results that were ahead of Bell Potter’s expectations, driven by strong growth in the US and robust sales in 

On Friday, the ASX200 ended its worst week since November, amid a sell-off among tech stocks. The tech sector declined 4%, with Afterpay (ASX:APT) at its lowest price since July. WiseTech Global (ASX:WTC), Nuix (ASX:NXL) and Nearmap (ASX:NEA) were all lower, and Xero (ASX:XRO) was down the most, falling 9%. Consumer staples also look a hit, and the local market closed just over 1% lower. Medical device company ResMed (ASX:RMD) performed best, advancing 3.6%, followed by Ramelius Resources (ASX:RMS) and AGL Energy (ASX:AGL). AGL was the best performer of the week, helping to offset some market losses. The stock gained 19% over the week, after Credit Suisse named AGL their top pick among energy sector equities, due to the advantage AGL has in low-cost coal supply. Investment manager Pendal (ASX:PDL) declined 15%, following the release of its funds under management update for the first quarter, which fell 2.5% to $135.7 billion, disappointing investors. Some of the most traded stocks by Bell Direct clients on Friday, were the major miners, including Fortescue Metals (ASX:FMG), Pilbara Minerals (ASX:PLS), BHP (ASX:BHP), Nickel Mines (ASX:NIC), Lake Resources (ASX:LKE) and Syrah Resources (ASX:SYR). European stocks were lower, as expectations for imminent policy tightening by the Fed resurfaced. US markets had another negative week. Major banking stocks were broadly lower after reporting their earnings. In recent weeks, bank stocks had outperformed as interest rates moved higher, however investors were underwhelmed by Friday’s reports. The Dow Jones was down 0.6%, while the S&P500 closed slightly higher 0.08%. Meanwhile, tech stocks helped offset concerns. The tech-heavy Nasdaq outperformed with a 0.6% gain. Following US equities, the SPI futures are suggesting the ASX200 will rise 0.38% at the open. What to watch today:The local tech sector, as ASX tech stocks often follow the Nasdaq’s lead. New York listed Xero (ASX:XRO) and Appen (ASX:APX) rebounded in the US on Friday. So their price movements will be on watch, however as the price of Block (formally known as Square) continues to fall in the US, it’s unlikely Afterpay will see any strong gains. Despite speculation that China will release some of its reserves, the oil price charged higher. The oil price rose more than 2% to US$83.82 a barrel. Supply disruptions in Libya and Kazakhstan and the diminishing US crude inventories, have offset mobility in China. Gold is trading lower, at US$1,817 an ounce, weighed down by higher US Treasury yields and a rebound in the dollar. The seaborne iron ore price is also trading lower at US$126.24 a tonne. Trading ideas:Credit Suisse has upgraded their rating on AGL Energy (ASX:AGL) from Neutral to Outperform, and have increased their price target from $7.30 to $8.30. EPS and DPS forecasts have been noticeably increased, and AGL last closed at $7.47. Trading Central have identified a bullish signal in De Grey Mining (ASX:DEG), which indicates that the stock price may rise from the close of $1.28 to the range of $1.58 to $1.66. The pattern formed over 111 days which is roughly the period of time in which the target price range may be achieved, according to standard principles of technical analysis.

The Aussie share market gained 0.3% this week (Mon-Thu). The energy sector advanced the most, while the consumer staples sector took the biggest hit.   In this week’s wrap, Sophia covers: (0:23) AGL Energy (ASX:AGL) lifting 15% following a broker update(0:45) PolyNovo (ASX:PNV) gaining after record US sales reports(1:14) Why investors bought into BrainChip (ASX:BRN)(1:34) What stocks Bell Direct clients were trading this week(1:56) Bell Potter's top stock picks for 2022(4:47) Two economic news items to watch out for 

Yesterday the ASX200 lifted 48 points or 0.66% higher, the market’s first gain of the week, boosted by both the energy and tech sectors, which gained 3% and 2% respectively. Also supporting the market was solid gains for commodity prices, as well as Jerome Powell’s testimony that confirmed the Fed would lift rates if needed to check prices. Nickel Mines (ASX:NIC) led the way, up an impressive 6.5%. This follows the nickel price touching a seven-year high amid the global push towards a greener future, like the push towards electric vehicles. Nickel is a key component in lithium-ion batteries, which are used to generate power for electric vehicles. Another top performer was Afterpay (ASX:APT). The stock gained 4.8% yesterday after the company cleared its final hurdle to be taken over by Block (formerly Square). APT will now officially stop trading on the ASX next Wednesday, the 19th of January, and will commence trading on the NYSE on the 2nd of February. Meanwhile, Domino’s Pizza (ASX:DMP) came under pressure, falling 4.5%. This appears to be driven by an update from its US parent. The pizza giant warned that it’s expecting “unprecedented” food cost increases in 2022, approximately an 8% to 10% rise in its food basket costs, and that’s worrying, as that’s 3-4 times the food inflation experienced in a typical year. The most traded stock by Bell Direct clients yesterday, were Allkem (ASX:AKE), a lithium carbonate supplier, formed after the merger between Orocobre and Galaxy Resources. Its shares have gained over 25% the past month, underpinned by the hot-running lithium markets. Lithium carbonate prices have increased six-fold since January 2021. In the US, all three benchmarks rose, with the Nasdaq gaining for the third straight day. This comes as the consumer price index increased 0.5% last month, which was slightly better than expected. And therefore in the 12-months through to December, the CPI has surged 7%, its biggest jump since 1982. Despite the positive session on Wall Street, the futures as at 8:30am AEDT are suggesting the Aussie share market will open 0.04% lower. What to watch today:Keep an eye on Crown Resorts (ASX:CWN). Goldman Sachs gave the stock a neutral rating and an $11.03 price target, telling investors to instead buy the shares of its rival Star Entertainment Group (ASX:SGR). Oil prices pushed to two-month highs on tight supply and easing concerns about the potential hit to demand from the Omicron variant.The gold price gained, as the dollar retreated following US inflation being in line with expectations. Spot gold was up 0.2% to $1,825 per ounce.  The silver, copper, steel, iron ore and lithium prices are all booming, all up between 1.5%-3%.  Trading Ideas:Citi have maintained their BUY recommendation on shipbuilding and repairing company, Austal (ASX:ASB) with a price target of $3.09. Citi believes the stock remains catalyst rich and are supportive of the new strategies aimed at diversifying pipeline risk. These include adding steel capability and increasing number of programs it contests) and growing support revenue. Austal closed 5% higher yesterday to $1.97, which implies about 57% share price growth in a year.Trading Central has a bullish signal on software company, Whispir (ASX:WSP). This signal indicates that the stock price may rise from the close of $2.60 to the range of $2.64 - $2.72 in the next 30 days, according to standard principles of technical analysis. 

Yesterday Australian shares fell for the second straight trading session. The benchmark index was dragged down mostly by the major banks, real estate, and consumer staples, and the ASX200 closed 0.76% lower. Meanwhile, materials managed to close slightly higher. PolyNovo’s (ASX:PNV) share price gained rose an impressive 25.2% yesterday to $1.79. They reported unaudited record US sales in December of $3.4 billion, which is a 76% increase on the same time the year prior. The worst performer yesterday was ARB Corporation (ASX:ARB), down more than 12%, after reaching a 52-week high last week. This was after Credit Suisse downgraded its share price guidance on ARB from “neutral” to “underperform” with a $38 price target. Meanwhile, JP Morgan upgraded ARB to “underweight” yesterday, with a $35 price target. ARB closed yesterday at $46.32. The most traded stocks by Bell Direct clients yesterday included Coles (ASX:COL), Fortescue Metals (ASX:FMG), Afterpay (ASX:APT).In the US, all three major benchmarks closed higher. The S&P500 up 0.9%, the Dow up 0.5% and the Nasdaq rallied for a second day, gaining 1.4%. Rising interest rates have put pressure on equities, however, interest rates cooled yesterday, with the 10-year Treasury yield falling below 1.75%.Investors will be trading cautiously ahead of inflation updates in the US today and tomorrow, awaiting an indication of US interest rate hikes. Following the positive session in New York, the SPI futures are suggesting the ASX200 will open 0.86% higher this morning.What to watch today:Oil is trading over 3% higher at US$81 a barrel, boosted by short supply and a weaker dollar, as well as expectations that the impacts of Omicron on the economy will be short-term. Gold is also trading higher, above US$1,800 an ounce, as investors await the US inflation reading. The seaborne iron ore price is trading 1.4% lower US$124 a tonne. In economic news, retail sales data was released yesterday, which increased by 7.3% in November, from 4.9% the month prior. This exceeded market consensus of 3.9% and was the largest lift in 18 months. Balance of Trade data was also released. Australia’s trade surplus fell from $10.78 billion to $9.43 billion in November 2021. It was the smallest trade surplus since April, with the softening of global demand due to the COVID-19 pandemic. Trading Ideas:Bell Potter maintain their BUY rating on BCI Minerals (ASX:BCI), and have lowered their price target from $0.71 to $0.66. The iron ore miner has completed a capital raising of up to $360 million, that represents the last piece of its $1.2 billion funding package for its Mardie Salt & Potash project. BCI closed yesterday at $0.42, implying 52% share price growth in a year. Trading Central has identified a bullish signal in Centaurus Metals (ASX:CTM) which indicates that the stock price may rise from the close of $1.27 to the range of $1.32 - $1.36, within 65 days.