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Azeem Sheriff -
CMC Markets -
Trading Idea of the Day
ASX:WOW - Woolworths Group - BULLISH BIAS
- Key levels on the chart - consider taking trades from key support/resistance levels
- Woolies falls under the Consumer Staples sector which is generally a defensive stock and therefore resistant to economic cycles including any upcoming recessions
- Woolies can maintain their profit margins and pass on their costs to customers which provides protection for their bottom line.
ASX & Economic Key Events
OPTO For Investors Research
Article of the Day: Ray Dalio’s Bridgewater Associates goes short on Euro Stoxx 50 stocks
Podcast of the Day: Investment manager Michael Gayed warns of a sovereign debt crisis
APAC Daily Report
Market Snapshot & Highlights as of 7am AEST
Global Markets Headlines
- Bank of England hikes by 50 basis points, says UK may already be in recession (CNBC)
- FedEx hikes package rates, details cost cutting as demand weakens globally (CNBC)
- Turkey cuts interest rates again as country struggles under 80% inflation (CNBC)
- The U.S. and its allies are joining forces on chips. That could stop China reaching the next level (CNBC)
- Swiss central bank hikes interest rates by 75 basis points, bringing them out of negative territory (CNBC)
- Treasury Yields Surge as Global Central Banks Scramble to Respond to Fed, Inflation (WSJ)
(All news & data sourced from AFR / The Australian / Bloomberg / Reuters / CNBC / Wall Street Journal / Morningstar / OPTO / Trading Economics)
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