Market wraps 8th February 2021

Morning Bell - Jessica Amir

The ASX200 is eyeing a lift of 0.1% at the open.

The US unemployment rate fell to 6.3% in January, this was better than the projected 6.7% as Americans continue to head back to work. The US Democrats moved forward in the process of passing a $1.9 trillion COVID-19 relief bill without Republican votes.

Imdex (ASX:IMD) and Charter Hall Long WALE REIT (ASX:CLW) report results today.

Local trading ideas:

  • UBS marked Cochlear (ASX:COH) as a sell, forecasting revenue and sales to decline in the half year.
  • Bell Potter increased Cyclopharm’s (ASX:CYC) speculative buy rating with a new price target of $3.40.
  • Immutep (ASX:IMM) had its speculative buy rating upgraded with a new $0.65 target by Bell Potter.
  • Andromeda Metals (ASX:AND), Reckon (ASX:RKN) and Kingston Resources (ASX:KSN) are giving off bullish charting signals according to Trading Central.