Market wraps 14th April 2021

Morning Bell - Jessica Amir

US stocks closed mostly higher as bond yields fell, which is supportive of equities. The Aussie market is expected to lift 0.3% or 19 points at the open.

What to watch today: 

  • Tech stocks are expected to shine the most as bonds yield fell from their 12-month high to 1.71%, making tech stocks look far more attractive.
  • Zip (ASX:Z1P) will be traded a lot today, as it jumped 17% yesterday after reporting another strong quarter – with revenue, merchants and customers all rising by 10%-20%.
  • Afterpay (ASX:APT) is another one to watch, rising 3% yesterday and is likely to lift further in the short term.
  • Consumer confidence is released for April which is expected to be positive as employment is at pre-pandemic levels.
  • The most traded stocks from yesterday . For our active trader desk, Bell Direct Advantage they were: Magnetite Mines (ASX:MGT), Delorean (ASX:DEL) and 88 Energy (ASX:88E).

Trading ideas:

  • Online luxury fashion website Cettire (ASX:CTT) which sells designer brands like Givenchy, Chanel and Valentino was initiated as a Bell Potter Buy with a $1.90 target.
  • The rival company to NBN, Uniti Group (ASX:UWL) had it Buy rating upgraded by Bell Potter, with a new $2.85 target as its network revenue is likely to increase.
  • Uniti Group (ASX:UWL), SenSen Network (ASX:SNS) and Pushpay Holdings (ASX:PPH) are all giving off bullish charting signals according to Trading Central.