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Trading Idea of the Day
ASX:GMG - Goodman Group Ltd (BULLISH - long term & BEARISH - short term)
- Key levels on the chart - consider taking trades from key support/resistance zones.
- Goodman Group is on track for operating earnings per share (EPS) growth of 11% in FY23.
- Within the recent 1Q FY23 update management flagged a 'patient and cautious' approach, especially given the uncertain economic outlook.
- Ord Minnett retains a Hold rating and $22 target price but flags early signs of development margins moderating from unsustainably high levels.
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: US cannabis sales jump 12.7%
Podcast of the Day: Michael Loukas of TrueMark on why diversification isn’t always key
APAC Daily Report
Market Snapshot & Highlights as of 8:00am AEDT
EXPECTATIONS: Energy HIGHER (higher oil prices) & Materials HIGHER on overall commodity prices.
Global Markets Headlines
- Key inflation measure that the Fed follows rose 0.2% in October, less than expected (CNBC)
- Russian oil sanctions are about to kick in. And they could disrupt markets in a big way (CNBC)
- Salesforce shares slump nearly 10% after co-CEO Bret Taylor announces surprise departure (CNBC)
- China signals slight Covid policy easing — but don’t expect sweeping changes yet (CNBC)
- Tesla recalls 435,000 cars in China over rear light issue and will issue software update (CNBC)
- Fed Chair Powell says smaller interest rate hikes could start in December (CNBC)
- India may become the third-largest economy by 2030, overtaking Japan and Germany (CNBC)
(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.
