Market wraps 20th January 2021
Morning Bell - Jessica Amir
The ASX200 is eyeing a 0.2% lift at the open following the 1.2% gain yesterday.US equities lifted higher overnight, resuming trade after the Martin Luther King public holiday. This saw the S&P500 and NASDAQ gain 0.8% and 1.5% respectively.
What to watch today:
- Tech stocks are likely to follow the US moving higher. All eyes will be on Afterpay (ASX:APT) and Sezzle (ASX:SZL).
- Sydney Airport (ASX:SYD) will report December numbers.
- Australian Pharmaceuticals Industries (ASX:API) holds its AGM.
- Monthly consumer confidence data will be released with confidence levels at a decade high.
Local trading ideas:
- TechnologyOne (ASX:TNE) was upgraded to a buy by Bell Potter with a $9.25 price target.
- Liontown Resources (ASX:LTR) was upgraded to a speculative buy by Bell Potter with a $0.55 price target.
- Technology Metals (ASX:TMT), SG Fleet (ASX:SGF) and IDP Education (ASX:IEL) are giving off bullish charting signals according to Trading Central.