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 Invest platform and follow us on Twitter: 

Azeem Sheriff - @Azeem__Sheriff 
Tina Teng - @Tinateng_CMC
CMC Markets ANZ - @CMCMarketsAUSNZ
CMC Markets Singapore - @CMCMarketsSG
CMC Markets Canada - @CMCMarkets_CA

Trading Idea of the Day

ASX:MPL - Medibank Private Ltd - BULLISH BIAS

• Key levels on the chart - consider taking trades from key support/resistance zones.

• ​Recent cyber attack saw the share price drop around 20%, after CEO confirmed breach of customer data but also confirmed FY 23 forward guidance on customer outlook reduced making this stock quite undervalued.

• Company is an insurance company and the overall business is still quite strong and generally tends to weather a recessionary environment quite well due to its pricing power, ability to pass on costs to customers.

• The stock offers a great technical setup on a weekly chart, playing the range and nearing the bottom of that range, great risk to reward for any bullish traders/investors.

• Company also pays a relatively stable/decent dividend of around 4.5%

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: Can Aston Martin stock reverse its downtrend amid losses?

Podcast of the Day: Doomberg on Nord Stream sabotage and monetary mayhem

APAC Daily Report

Click here to access our daily APAC report, prepared by my fellow market analyst @TinaTeng_CMC

Market Snapshot & Highlights as of 7:30am AEDT

EXPECTATIONS: Energy HIGHER (higher oil prices) & Materials HIGHER on overall higher base metal prices.

Global Markets Headlines
 

• The Fed is expected to raise rates by three-quarters of a point and signal it could slow the pace (CNBC)

• ‘We’re not against profits,’ White House advisor says after Biden’s tax threats on oil companies (CNBC)

• Twitter reportedly limits employee access to content-moderation tools as midterm election nears (CNBC)

• Oil CEOs warn this winter’s energy crisis will be nothing compared to the next (CNBC)

• SpaceX launches Falcon Heavy, the world’s most powerful rocket, on Space Force mission (CNBC)

• Uber stock pops 11% on revenue beat, strong guidance (CNBC)

• Bank of England sells £750 million worth of bonds at first QE unwind auction (CNBC)

• Britain’s new PM is a fan of crypto. There are hopes he’ll give the industry a boost (CNBC)

• Elon Musk Wants More Paying Twitter Users, Hinting at $8 a Month for Verified Accounts (WSJ)

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