Market wraps 29th April 2021
Morning Bell - Paulina Peters
The Aussie share market is set to open 0.26% higher amid optimism for commodity prices. Apple and Facebook exceeded revenue expectations.
What to watch today:
- The Oil price rose more than 1% off the back of fuel demand optimism.
- The Gold price gained as the US dollar and US Treasury yields eased following the Fed keeping rates unchanged.
- The Copper price hit an all-time high on China demand. Keep an eye on Copper stocks like OZ Minerals (ASX:OZL), and Sandfire Resources (ASX:SFR).
- Iron ore is trading 0.11% lower but still near the 10-year high while the Nickel price is trading 1.8% higher.
- Today, both Woolworths (ASX:WOW) and Newcrest Mining (ASX:NCM) are set to release their third quarter updates.
- Most traded stocks for Bell Direct clients yesterday: CSL (ASX:CSL), Corporate Travel Management (ASX:CTD) and National Australia Bank (ASX:NAB).
- IT company, Life360 (ASX:360) was reiterated as a Bell Potter BUY, with a $7 price target. This comes off the back of a strong March quarter.
- Bell Potter also has a BUY rating on health informatics business, Alcidion (ASX:ALC), with an upgraded price target of $0.45, that’s a huge 50% increase
- RMA Global Holdings (ASX:RMY) is giving off bullish charting signals according to Trading Central.