G'day folks and welcome to another trading day with your friendly, neighbourhood CMC Market Analyst! 

For real-time up-to-date data/news/research/ideas/strategies, check out our insights panel on the CMC Markets Invest platform and follow us on Twitter: 

Azeem Sheriff - @Azeem__Sheriff 
Tina Teng - @Tinateng_CMC
CMC Markets ANZ - @CMCMarketsAUSNZ
CMC Markets Singapore - @CMCMarketsSG
CMC Markets Canada - @CMCMarkets_CA

Trading Idea of the Day

ASX:WOW - Woolworths Group Ltd - BULLISH BIAS

• Key levels on the chart - consider taking trades from key support/resistance zones.

• Company is a food/groceries company and the overall business is super strong and generally tends to weather a recessionary environment quite well due to its pricing power, ability to pass on costs to customers.

• Blue chip company with large market capitalisation.

• The stock offers a great technical setup on a weekly chart, playing the range and nearing the bottom of that range, great risk to reward for any bullish traders/investors, with potential capital growth.

• Company also pays a relatively stable/decent dividend of around 2.5%

ASX & Economic Key Events

ASX Key Events Calendar (TODAY)

Economic Key Events (TODAY)

Economic Key Events (YESTERDAY)

OPTO For Investors Research

Article of the Day: Cathie Wood buys 185,000 Robinhood shares

Podcast of the Day: Doomberg on Nord Stream sabotage and monetary mayhem

APAC Daily Report

Click here to access our daily APAC report, prepared by my fellow market analyst @TinaTeng_CMC

Market Snapshot & Highlights as of 7:30am AEDT

EXPECTATIONS: Energy HIGHER (higher oil prices) & Materials LOWER on overall higher base metal prices.

Global Markets Headlines
 

• Dow closes 500 points lower, Nasdaq sheds 3% as Fed’s Powell signals intent to continue hiking rates (CNBC)

• Fed approves 0.75-point hike to take rates to highest since 2008 and hints at change in policy ahead (CNBC)

• Shares of Airbnb tumble 13% on low fourth-quarter guidance (CNBC)

• 10-year Treasury yield turns higher after Fed’s Powell says rates will go higher than expected (CNBC)

• Shipping firm Maersk, a barometer for global trade, warns of ‘dark clouds on the horizon’ (CNBC)

• Bank of England set for biggest rate hike in 33 years, but economists expect dovish tilt (CNBC)

• Private payrolls rose 239,000 in October, better than expected, while wages increased 7.7%, ADP says (CNBC)

• Major banks are bullish on Hong Kong’s economy and China growth prospects (CNBC)

• Goldman Sachs expects European gas prices to tumble 30% in the coming months (CNBC)

• Chip Maker Qualcomm Sees Smartphone Slump Worsening (WSJ)

(All news & data sourced from AFR / The Australian / Bloomberg / Reuters / CNBC / Wall Street Journal / Morningstar / OPTO / Trading Economics)