Between the Bells

Morning Bell 23 July


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Yesterday the Aussie share market closed at record high of 7,386 points after the market rose 1.1%. 

This morning, the futures are suggesting the market will fall 0.2%. 

What to watch today, 

  • The iron ore price is down 2%, pulling back for the second session. Stocks such as BHP (ASX:BHP) and Fortescue Metals (ASX:FMG) are expected to pull back. 
  • The oil price jumped 2% to US$71, helping energy stocks rebound from Monday’s sell off. 
  • Copper is up 1.5%, while coal prices dipped for the second day, peeling back off its decade high. 
  • The Services PMI Flash for July will be released today. The services sector was in growth territory prior to the lockdowns. 

Trading Ideas: 

  • Zip (ASX:Z1P) is a Citi BUY with a $10.25 price target, implying 35% share price growth in a year. 
  • Bell Potter has reiterated Cluey (ASX:CLU) as a Speculative BUY stock, with a $1.70 price target, implying 50% share price growth in a year. 
  • Uniti Group (ASX:UWL) Adriatic Metals (ASX:ADT) and Alcidion (ASX:ALC) 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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