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:COP - ConocoPhillips - BULLISH BIAS
- Key levels on the chart - consider taking trades from key support/resistance levels
- ConocoPhillips acquired an additional 10% interest in Australian Pacific LNG from Origin Energy (ASX:ORG) for US$1.65B. This brings ConocoPhillips’ interest to 47.5%, from which they’re expecting to receive US$1.8B in dividend distributions for 2022.
- Given the macroeconomic backdrop on LNG with the Russia/Ukraine war and surging natural gas prices, this is definitely a stock to watch over!
(Click image to enlarge)
ASX & Economic Key Events
ASX Key Events Calendar (TODAY)
(Click image to enlarge)
Economic Key Events (TODAY)
(Click image to enlarge)
Economic Key Events (YESTERDAY)
(Click image to enlarge)
APAC Daily Report
Market Snapshot & Highlights as of 7am AEST
EXPECTATIONS: Energy HIGHER (higher crude) & Materials MIXED.
(Click image to enlarge)
Global Markets Headlines
-
Volkswagen targets $70.1 billion to $75.1 billion valuation in planned Porsche IPO (CNBC)
- Strong earthquake hits southeastern Taiwan, building collapses (CNBC)
- Meta shares plunged 14% this week, falling close to their pandemic low (CNBC)
- Cramer’s week ahead: FedEx’s warning shows the Fed is making progress fighting inflation (CNBC)
- Why Adobe Wants Figma and Why Some Investors Are Worried (WSJ)
- Electric Bills Soar Across the Country as Winter Looms (WSJ)
- Rivian leads meme stocks GameStop and Blackberry lower (OPTO)
(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.
