Market wraps 17th June 2021
Morning Bell - Sophia Mavridis
Well the US Federal Reserve have kept rates unchanged, but raised expectations of at least two increases in interest rates by the end of 2023.
China announced yesterday that they would release national reserves of aluminium, copper and zinc, to stabilise commodity prices. This weighed down on miners, however the ASX200 still closed higher.
Despite US equities falling overnight, the Aussie share market is set to open higher, with the futures suggesting the market will rise by 7 points.
What to watch today:
- The RBA bulletin will be released this morning at 11:30am AEST, with announcements on the unemployment and participation rates.
- Keep an eye on Coles (ASX:COL) as they hold their virtual strategy day today, where they will provide an update on their refreshed strategy, with the potential for an update on their sales.
- The oil price is down 0.8%, gold is down 2.4%, copper is down 1.5% and iron ore is trading 0.2% lower.
- The most traded stocks by Bell Direct clients yesterday were Northern Star Resources (ASX:NST), BHP (ASX:BHP) and Flight Centre (ASX:FLT).
- Bell Potter have reiterated their BUY recommendation on Imdex (ASX:IMD) with an increased price target of $2.35 (previously $2.20).
- Straker Translations (ASX:STG), Credit Corp Group (ASX:CCP) and Adore Beauty Group (ASX:ABY) are all giving off bullish charting signals according to Trading Central.