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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! 

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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)

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