Market wraps 6th January 2021
Morning Bell - Paulina Peters
The Aussie share market is set to fall 0.1% at the open despite Wall Street’s rally overnight.
The polls are now open for the runoff Georgia elections which are important to incoming US President Joe Biden’s next couple of years in the White House.
What to watch today:
- Zip (ASX:Z1P) shares fell 5% yesterday following the release of its share purchase plan on Monday. There were reports overnight that Zip and AsiaPay formed a partnership however, no ASX announcement was released.
- The gold price rallied overnight rising to US$1,948 off the back of a continued weaker US dollar and focus turning to the Georgia runoffs. Gold miners like Newcrest Mining (ASX:NCM), Saracen Mineral (ASX:SAR), Northern Star Resources (ASX:NST) and St Barbara (ASX:SBM) could be on the rise again today.
- The oil price has broken above $50 for the first time since February 2020 jumping 5.1% to US$50.06 a barrel, following Saudi Arabia announcing voluntary cuts. Today looks set to be a great day for energy producers like Santos (ASX:STO) and Woodside Petroleum (ASX:WPL).
Local trading ideas:
- Harvey Norman (ASX:HVN), First Graphene (ASX:FGR) and Aurelia Metals (ASX:AMI) are giving off strong bullish charting signals according to Trading Central.