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Need 4 Speed - ASX Report - 30/09/22

ASX Trading

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 NextGen platform and follow us on Twitter: 

Azeem Sheriff -  
CMC Markets - 

Trading Idea of the Day

NYSE:BAC - Bank of America - BULLISH BIAS

  • During periods of interest rate rises, the difference in interest charged on interest-bearing assets like loans and the interest being paid on deposits grows known as Net Interest Margin (NIM).
  • As Bank of America has seen relative growth in customer deposits and loans, a growing Net Interest Margin should mean that the company reaps the rewards.
  • Although Bank of America’s Net Interest Margin currently sits at 1.69%, we should expect this to climb if the Federal Reserve continues to hike interest rates.
  • However risk is, as we enter closer to a recession, we could potentially see a significant reduction in credit demand, which will become a battle between a higher NIM vs lower credit to offset each other.

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: Walmart shares upbeat on metaverse venture with Roblox
Podcast of the Day: Market strategist Kiril Sokoloff’s thematic investment radar 

APAC Daily Report

Market Snapshot & Highlights as of 7am AEST

EXPECTATIONS: Energy LOWER (lower/nat gas) & Materials HIGHER on rising base metal prices.

Global Markets Headlines

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


Disclaimer: CMC Markets is an order execution-only service. The material (whether or not it states any opinions) is for general information purposes only, and does not take into account your personal circumstances or objectives. Nothing in this material is (or should be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by CMC Markets or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although we are not specifically prevented from dealing before providing this material, we do not seek to take advantage of the material prior to its dissemination.

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