Market wraps 3rd June 2021

Morning Bell - Jessica Amir

Yesterday, the ASX200 closed at a new record high for the first time in history, at a 1.1% gain.

Overnight, all three US indices moved up modestly by 0.1%.

This morning the Aussie share market is set to reach a brand new record high, with the futures suggesting the market will rise 0.2%.

What to watch today:

  • In economic news, Retail Trade Data is out today for April.  
  • Balance of Trade data set to be released 11:30am AEST.
  • The Oil price moved over its two- year high to US$68.77 a barrel.
  • The Iron Ore price rose 3%, trading at $207.50 a tonne.
  • The Gold price rose modestly to US$1,911.

Trading Ideas:

  • Worley (ASX:WOR) is a Citi BUY with a $12.60 price target, and Macquarie has a BUY on the stock, with a $12.00 price target.
  • Superloop (ASX:SLC), Charter Hall Group (ASX:CHC), and FYI Resources (ASX:FYI) are all giving off bullish charting signals, according to Trading Central.