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Trading Idea of the Day
NYSE:GM - General Motors - BULLISH BIAS
Consider taking entries, exits, stop losses and take profits from key levels
Cheaper imported raw materials lowers manufacturing costs.
- While General Motors manufacture their cars domestically, many of the electrical components and raw materials are sourced from foreign markets and imported to the States.
- A stronger U.S. dollar means these raw materials should be able to be sourced at a competitive price, improving margins at a time where the company may see a decline in vehicle exports owing to the exchange rate increasing costs for foreign markets.
ASX & Economic Key Events
OPTO For Investors Research
Article of the Day: Vodafone and Three’s mega merger
Podcast of the Day: Portfolio manager Caroline Cai’s take on an emerging markets’ debt crisis
APAC Daily Report
Market Snapshot & Highlights as of 7am AEST
Global Markets Headlines
- OPEC+ to cut oil production by 2 million barrels per day to shore up prices, defying U.S. pressure (CNBC)
- UK’s Liz Truss pledges tax-cutting future in landmark speech plagued by protest and infighting (CNBC)
- Elon Musk’s plans for Twitter may take inspiration from Chinese super apps (CNBC)
- Apple reportedly in talks to make AirPods and Beats headphones in India (CNBC)
(All news & data sourced from AFR / The Australian / Bloomberg / Reuters / CNBC / Wall Street Journal / Morningstar / OPTO / Trading Economics)