Between the Bells

Morning Bell 20 May


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It was a wild session overnight on Wall Street after the Bitcoin price plunged causing Tech shares to come under pressure. 

Despite Wall Street’s fall, the Aussie share market is set to open slightly higher, with the futures suggesting the market will lift 0.06%.  

What to watch today:

  • Unemployment data will be released this morning, with the market expecting the unemployment rate to hold at 5.6%, the lowest rate since April 2020. Given the expiry of JobKeeper and seasonal adjustment factors, it’s believed that there is a higher-than-usual risk of an unexpected outcome in this jobs result. 
  • Company results out today include Auckland International Airport (ASX:AIA), Infratil (ASX:IFT), Serko (ASX:SKO), United Malt Group (ASX:UMG) and Webjet (ASX:WEB). 
  • Today, Eagers Automotive (ASX:APE) and G8 Education (ASX:GEM) hold their AGMs.
  • The Oil price dropped more than 3% off the back of renewed demand concerns as COVID-19 cases in Asia rise, and fears of rising inflation continue.
  • The Gold price retreated as the dollar and US Treasury yields rose. 
  • The most traded stocks by Bell Direct clients yesterday: Macquarie (ASX:MQG), Vanguard Australian Shares Index ETF (ASX:VAS) and ANZ Bank (ASX:ANZ).

Trading ideas:

  • Bell Potter has increased artificial intelligence company, Appen’s (ASX:APX) price target by 8% to $14.25, which is an 8% premium to the share price and they maintain its Hold recommendation. 
  • Bell Potter have updated their view on Helloworld Travel (ASX:HLO), reducing their price target from $2.60 to $1.95, and its Hold rating remaining unchanged. 
  • Vita Group (ASX:VTG), Aurelia Metals (ASX:AMI) and Talga Group (ASX:TLG) are all giving off bullish charting signals according to Trading Central.  
...more
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Between the BellsBy Bell Direct


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