Market wraps 8th March 2021
Morning Bell - Jessica Amir
The Aussie share market is likely to lift 1.6% or 107 points, after US stocks sharply rebounded at the weekend.
Keep in mind volume could be a bit lighter today as Victoria celebrates a public holiday.
What to watch today
- Oil and industrial stocks will likely charge following sentiment on Wall Street. Keep an eye on Oil Search (ASX:OSH) & Santos (ASX:STO).
- Expect locally listed BHP (ASX:BHP) and Rio Tinto (ASX:RIO) to rally after their US listed counterparts rose on Friday. RIO in NY rose 2% while BHP rose 0.5%.
- In the Lithium space, keep in mind US listed giants rose on Friday and Audi announced it’s moving to produce fully electric cars.
- St Barbara (ASX:SBM) and Newcrest Mining (ASX:NCM) could be a little lacklustre after the safe haven commodity, Gold, fell to its lowest level in nine months on Friday.
- Copper stocks could see a rebound after Copper jumped 4%.
- Eco news this week: Business confidence is out tomorrow and Consumer Confidence is out Wednesday.
- UBS upgraded Centuria Industrial REIT (ASX:CIP), increasing its price target to $3.54.
- Service Stream (ASX:SSM), IGO (ASX:IGO), Vulcan Energy (ASX:VUL) are all giving off bullish charting signals according to Trading Central.