Between the Bells

US equities had a positive night, with all three of the major indices increasing, with the Dow Jones rising 0.7%. 

It comes as better than expected economic news came through, as the US economy grew 6.4% in the first quarter, surpassing expectations of 6.1% growth. 

Amazon reported that its profits tripled to $8.1 billion. 

What to watch today:

• Despite US equities closing higher, the Aussie share market is set to open lower ahead of companies reporting their quarterly results. 
• Quarterly earnings are due out for Cimic (ASX:CIM), Genworth Mortgage (ASX:GMA), PointsBet (ASX:PBH) and ResMed (ASX:RMD). 
• AGMs today: AMP (ASX:AMP), Life360 (ASX:360) and Janus Henderson Group (ASX:JHG).
• Commodity stocks will likely see some activity today, with the Copper price pulling back from its all-time high. 
• Palladium stocks will likely see some further buying activity given the Palladium price hit a record overnight. 

Trading ideas:

• Bell Potter reiterated its BUY recommendation on BCI Minerals (ASX:BCI), increasing its target to $0.57. 
• Bell Potter have also reiterated Straker Translations (ASX:STG) as a BUY with a $2.15 price target, implying about 22% upside in a year.
• Lastly, bullish charting signals have been identified in Mandrake Resources (ASX:MAN), Qube Holdings (ASX:QUB) and Coles (ASX:COL) according to Trading Central. 

The Aussie share market is set to open 0.26% higher amid optimism for commodity prices. Apple and Facebook exceeded revenue expectations.  

What to watch today:

• The Oil price rose more than 1% off the back of fuel demand optimism.
• The Gold price gained as the US dollar and US Treasury yields eased following the Fed keeping rates unchanged. 
• The Copper price hit an all-time high on China demand. Keep an eye on Copper stocks like OZ Minerals (ASX:OZL), and Sandfire Resources (ASX:SFR). 
• Iron ore is trading 0.11% lower but still near the 10-year high while the Nickel price is trading 1.8% higher. 
• Today, both Woolworths (ASX:WOW) and Newcrest Mining (ASX:NCM) are set to release their third quarter updates.
• Most traded stocks for Bell Direct clients yesterday: CSL (ASX:CSL), Corporate Travel Management (ASX:CTD) and National Australia Bank (ASX:NAB). 

Trading ideas:

• IT company, Life360 (ASX:360) was reiterated as a Bell Potter BUY, with a $7 price target. This comes off the back of a strong March quarter. 
• Bell Potter also has a BUY rating on health informatics business, Alcidion (ASX:ALC), with an upgraded price target of $0.45, that’s a huge 50% increase
• RMA Global Holdings (ASX:RMY) is giving off bullish charting signals according to Trading Central. 

The futures are suggesting a 0.24% gain today for the Aussie share market – moving past two days of selling. 

What to watch today:

• The Aussie dollar has fallen ever so slightly from its three-year high – making our exports slightly cheaper.
• The iron ore price rose 0.8% overnight to an almost ten-year high. So in theory it should be a good day for iron ore majors, Fortescue Metals (ASX:FMG), BHP (ASX:BHP) and Rio Tinto (ASX:RIO).
• Our tech sector could end its three day downtrend today following better than expected results – with the US Tech sector notching its biggest revenue jump since 2018. 
• Australia’s inflation numbers are out today.
• The most traded stocks from yesterday at Bell Direct: Dicker Data (ASX:DDR), CSL (ASX:CSL) & Fortescue Metals (ASX:FMG). 

Trading ideas:

• GR Engineering (ASX:GNG) was upgraded as a Bell Potter Buy with a $1.50 price target after agreeing to buy an automation and technology engineering company.
• RMA Global (ASX:RMY) was reiterated as a speculative Bell Potter Buy with a $0.38 price target, implying 35% upside.
• BNK Banking (ASX:BBC), Aquis Entertainment (ASX:AQS) and Base Resources (ASX:BSE) are all giving off bullish charting signals according to Trading Central. 

The Aussie market is set to open 0.1% higher. For the month of April, the Tech sector is up the most while Energy underperforms. 

What to watch: 

• South32 (ASX:S32) doubled its cash in the March quarter while it reported record alumina from Brazil and Australian Manganese year to date. 
• Bingo (ASX:BIN) agreed to a takeover by Macquarie (ASX:MGQ) for $3.45 per year, minus a $11.70 dividend. 
• Perth exits its lockdown today and the Federal Government will review Australia’s COVID-19 vaccine rollout.
• The Australian dollar is trading at its highest level since February this year, which is making our exports more expensive. 
• Expect tax loss selling as the end of the financial year approaches. Selling to mount stocks that heavily underperformed, including The a2 Milk Company (ASX:A2M), Mesoblast (ASX: MSB), financial stocks IOOF (ASX:IFL) and Origin Energy (ASX:ORG), and energy companies AGL Energy (ASX:AGL) and Kogan (ASX:KGN). 
• The most traded stocks from Bell Direct yesterday: Dicker Data (ASX:DDR), Van Eck Vectors Gold Miners ETF (ASX:GDX) and Galaxy Resources (ASX:GXY).

Trading Ideas: 

• Doctor Care Anywhere (ASX:DOC) was restamped as a Bell Potter Buy stock with a $1.95 price target after it reported record revenue. 
• Emeco Holdings (ASX:EHL) also reiterated as a Bell Potter Buy, with a $1.50 price target. 
• Rhythm Biosciences (ASx:RHY), Loneer (ASX:INR) and Capral (ASX:CAA) are all giving off bullish charting signals according to Trading Central. 

The Aussie share market is set to open higher with the futures suggesting a 0.1% lift. Tech and airline stocks will be in focus today.

What to watch: 

• The Aussie tech sector is up 10% this month, Industrials is 6% and Materials is up 7.2%.
• Iron ore price continued to increase 0.4% overnight chasing down a new 10-year high. Watch Fortescue Metals Group (ASX:FMG), Magnetite Mines (ASX:MGT) and Mineral Resources (ASX:MIN) today.
• Platinum futures are up 2%, and Palladium futures are up 0.5%. Copper trades lower.
• The Oil price is 0.1% higher at US$62.22, with futures 1% higher. 
• Westpac (ASX:WBC) has announced its half year profit will be $282 million accounting for litigation costs and software write-downs, as well as IOOF separation expenses. 
• NIB Holdings (ASX:NIB) has announced its underlying profit for the 2021 financial year to be much stronger than a year prior. 
• The most traded stocks from Bell Direct on Friday: Vanguard Msci Index International Shares ETF (ASX:VGS), Vanguard US Total Market Shares Index ETF (ASX: VTS) and Vanguard Australian Share ETF (ASX:VAS).

Trading Ideas: 

• Accent Group (ASX:AX1) was upgraded as a Bell Potter Buy stock with a $3.30 price target, implying 14% upside. 
• Fortescue Metals Group (ASX:FMG) was upgraded to a Buy from a Hold by Bell Potter with an increased $23.85 price target.
• Youfoodz Holdings (ASX:YFZ) remains a Bell Potter Buy, with a lower $1.10 price target. 
• Weebit Nano (ASX:WBT), Gelena Mining (ASX:G1A) and Emeco Holdings (ASX:EHL) are all giving off bullish charting signals according to Trading Central.

The Aussie share market is on pace for its best monthly gain in 6-months. And market volatility is at a 14-month low, as vaccine rollouts ramp up.

In this week’s wrap, Jessica covers: 

• Healthcare & Industrials continuing to see respite after a poor 2020
• Champion Iron (ASX:CIA) outperforming the market, rising 8%
• Freelancer (ASX:FLN) shining, up 29%
• Why clean energy investments are in full focus
• A Palladium ETF in the spotlight
• Three Palladium stocks to consider
• Why Fortescue (ASX:FMG) is worth a look, as it goes carbon neutral

The Aussie share market is set to open lower, with the futures suggesting a 0.2% pull back. US equities fell into the red overnight. 

What to watch: 

• Gold price moved 0.1% to US$1,784
• Stocks and securities with a green focus as the Global Climate Action summit wraps up. Keep an eye on Hydrogen stocks like Fortescue Metals (ASX:FMG), Province Resource (ASX:PRL), Hazer (ASX:HZR), and QEM Limited (ASX:QEM).
• AMP Limited (ASX:AMP) as they are set to list their funds management business AMP Capital separately on the ASX in the beginning of 2022. 
• The most traded stocks across Bell Direct yesterday: Betmakers Technology (ASX:BET), CSL Limited (ASX:CSL) and Flight Centre Travel (ASX:FLT)

Trading Ideas: 

• Australian Pharmaceutical Industries (ASX:API) was upgraded as a Bell Potter Buy stock with a new $1.50 price target. 
• Corporate Travel (ASX:CTD) was also upgraded as Buy by Bell Potter with an increased $22.60 price target.
• Pointerra (ASX:3DP), NZME (ASX:NZM) and Pacific Smiles (ASX:PSQ) are all giving off bullish charting signals according to Trading Central.

The Aussie share market is set to lift at the open, with the futures suggesting a 0.5% gain. US stocks advanced after two days of declines. 

What to Watch: 

• The iron ore price fell 1.3% overnight, retreating slightly from its 9.5 year high. Iron ore stocks in uptrend breakouts include Magnetite Mines (ASX:MGT), and Champion Iron (ASX:CIA). 
• The gold price rebounded 1%. Gold stocks in uptrend breakouts include Newcrest Mining (ASX:NCM), St Barbara (ASX:SBM), Evolution Mining (ASX:EVN), OceanaGold (ASX:OGC). Also watch Westgold (ASX:WGX) and Silver Lake (ASX:SLR). 
• The most traded stocks across Bell Direct yesterday: Province Resources (ASX:PRL), Rumble Resources (ASX:RTR) and Alterity Therapeutics (ASX:ATH)

Trading Ideas: 

• Cluey (ASX:CLU) was restamped as a Bell Potter Buy with a $1.80 price target. 
• Bega Cheese Ltd (ASX:BGA) was upgraded as a Buy by Bell Potter with an increased $7.35 price target 
• Brightstar Resources (ASX:BTR), Valmec (ASX:VMX) and Advanced Breaking Technology (ASX:ABV) are all giving off bullish charting signals according to Trading Central. 

The Aussie share market is set to open lower, with the futures suggesting the market will fall about 1.23%, to 6911 points. This mirrors Wall Street overnight as US equities fell. 

What to watch:

• There are concerns for the Trans-Tasman travel bubble after an Auckland airport employee who worked cleaning planes, has tested positive for COVID- 19, despite being fully vaccinated. Amid concerns, keep an eye on travel stocks such as Qantas Airways (ASX:QAN) and Webjet (ASX:WEB). 
• The oil price fell 1.44% to US$62.46, so it’s worth watching energy producers including AGL Energy (ASX:AGL), Woodside Petroleum (ASX:WPL) and Santos (ASX:STO). 
• The gold price increased by 0.5% so keep watch of Evolution Mining (ASX:EVN). 
• The most traded stocks for Bell Direct yesterday. They were: CSL (ASX:CSL), Lynas Rare Earths (ASX:LYC) and Vanguard MSCI Index International Shares ETF (ASX:VGS).

Trading ideas:

• Bell Potter has a Buy rating on Senex Energy (ASX:SXY) as they approach the next growth chapter. Yesterday Senex Energy closed at $3.71 and Bell Potter has increased its price target to $3.75.
• Bell Potter has changed their recommendation for Altium (ASX:ALU) from a Hold to a Sell. ALU have been heavily discounting the price of a perpetual license by around 40% and this is likely to have a negative short-term impact on revenue. Bell Potter have decreased their price target by 4% to $27.50.
• Bell Potter has reiterated their Buy recommendation for EROAD (ASX:ERD), supported by positive unit economics, constant revenue growth and growing sales momentum in Australia and New Zealand. 
• JB Hi Fi (ASX:JBH), Rural Funds Group (ASX:RFF), and RPM Automotive (ASX:RPM) are all giving off bullish charting signals according to Trading Central. 

The Aussie share market is set to open lower this morning, with the futures suggesting the market will fall 0.45% to 7,018 points. 

This comes as US equities slipped from their record levels after the tech sector weighed on the broader market. 

US investors remain cautious given the large amount of corporate earnings ahead this week as well as the ongoing vaccine rollout in the US.

What to watch today:

• Following tech shares coming under pressure in the US, it's worth keeping an eye on Aussie tech shares like Afterpay (ASX:APT) and Xero (ASX:XRO), as the local tech sector tends to follow the Nasdaq's lead.
• The oil price lifted 0.5% to US$63.47 a barrel following the US dollar weakening. So, keep an eye on energy producers like Santos (ASX:STO) and Woodside Petroleum (ASX:WPL). 
• The gold price fell 0.32% overnight to US$1,770.47. So Northern Star Resources (ASX:NST) and Evolution Mining (ASX:EVN) will be on watch.
• The iron ore price fell 0.1%, and copper increased 1.6%, while silver fell 0.58%. 

Trading ideas:

• Bell Potter has a Buy rating on Cooper Energy (ASX:COE), with a $0.45 price target. Cooper Energy has expansion projects aiming to support production leveraged to Australia’s tightening east coast gas market.
• Mineral Resources (ASX:MIN) closed yesterday at $43.76. Bell Potter has increased its price target on the stock by 14% to $49.30. EPS forecasts and highly sensitive movement to iron ore prices has led to this lift.   
• Eclipx (ASX:ECX), Lynas Rare Earths (ASX:LYC) and Reliance Worldwide (ASX:RWC) are all giving off bullish charting signals according to Trading Central.