Market wraps 22nd January 2021
Morning Bell - Jessica Amir
The ASX200 is eyeing a fall of 0.3% at the open. A day under US President Biden’s leadership and he’s kicked the focus to renewable energy, by re-joining the Paris Climate agreement and re-engaging with the World Health Organisation.
What to watch today:
- Energy stocks could see another pull back today after the oil price fell 0.5% with Biden planning to roll back oil and gas infrastructure projects.
- The Federal and South Australian Government announced SA will receive a $45 million handout to expand its recycling infrastructure.
- Keep an eye on travel stocks like Flight Centre (ASX:FLT) and Webjet (ASX:WEB) as Emirates will resume flights on Monday to Sydney, Melbourne and Brisbane.
- Preliminary retail sales data is out today and is expected to show sales cooled in December after November sales grew 7.1%, which was the biggest jump in sales in six months.
Local trading ideas:
- Cluey (ASX:CLU) was given a speculative buy rating by Bell Potter.
- Coronado Global Resources (ASX:CRN) was upgraded by Bell Potter with a new $1.55 target.
- BetMakers Technology (ASX:BET), Bellevue Gold (ASX:BGL) & Trek Metals (ASX:TKM) are giving off bullish charting signals according to Trading Central.