Market wraps 17th May 2021
Morning Bell - Jessica Amir
The Aussie share market is set to open higher, with the futures suggesting a 0.7% gain.
Investors continue to buy into tech stocks, after last weeks pull back.
What to watch today:
- Watch Tech stocks: Afterpay (ASX:APT), Xero (ASX:XRO) and Seek (ASX:SEK).
- The Iron Ore price continues to pull back. Watch Fortescue Metals Group (ASX:FMG), Magnetite Mines (ASX:MGT), Mineral Resources (ASX:MIN), BCI Minerals (ASX:BCI), and Champion Iron (ASX:CIA).
- Incitec Pivot Limited (ASX:IPL), Temple & Webster Group (ASX:TPW) and Elders (ASX:ELD) are set to report today.
- This week: RBA meeting minutes to be released on Tuesday and Consumer Confidence released on Wednesday. Watch JB Hi-Fi (ASX:JBH), Afterpay (ASX:APT), Harvey Norman (ASX:HVN) and Breville Group (ASX:BRG). In addition, unemployment data will be released on Thursday and April retail sales will be released on Friday.
- Most traded stocks from Friday included Xero (ASX:XRO) and Woodside Petroleum (ASX:WPL).
- Bell Potter have reiterated a speculative Buy recommendation on Avita Medical (ASX:AVH), dropping their price target to $10.50.
- Nick Scali (ASX:NCK), Ansell (ASX:ANN) and Integral Diagnostics (ASX:IDX) are all giving off bullish charting signals according to Trading Central.