Market wraps 21st June 2021
Morning Bell - Jessica Amir
The Aussie share market is set to open lower, with the futures suggesting the market will fall 1.5%.
What to watch today:
- Australian Retail sales data is out today for May.
- Today marks the 8th last trading day before the EOFY.
- Lumber prices hit a record high in May of US$1,700 per thousand board feet. Watch lumber and wood producers, including Big River Industries (ASX:BRI), Wesfarmers (ASX:WES) and Midway (ASX:MWY).
- The oil price holds at US$71.84, up by 0.3%.
- The iron ore price fell 1.6% and trades at US$217.
- The copper price fell to a two month low, losing 1.2% and falling 7% over the week, as China is expected to sell their reserves in copper, aluminum and zinc.
- Most traded stocks by Bell Direct clients yesterday: Galaxy Resources (ASX:GXY) and Chalice Mining (ASX:CHN).
- Avita Therapeutics (ASX:AVH) was reiterated as a Bell Potter BUY with a $9.80 target, implying 75% share price growth in a year.
- Bubs Australia (ASX:BUB), Xero (ASX:XRO) and AMP (ASX:AMP) are all giving off bullish charting signals according to Trading Central.