Pre Market ASX Report 07/09/22

Check out our daily ASX pre-market and AU macro outlook below!

Content Summary

APAC Daily Report
Market Snapshot & Highlights
Global Markets Headlines
ASX Economic Calendar
Trading Idea of the Day
Economic Calendars

APAC Daily Report

Click here to access our CMC APAC Morning Report, prepared by my fellow market analyst @TinaTeng_CMC

Market Snapshot & Highlights (as of 7 am AEST)

EXPECTATIONS: Energy down & Materials up

Global Markets Headlines
- Bed Bath & Beyond Names Interim CFO After Death of Gustavo Arnal (WSJ) - Volkswagen to List Porsche in One of Biggest IPOs in Years (WSJ) - Germany to keep two nuclear plants available as a backup and burn coal as it faces an energy crisis brought on by war and climate change (CNBC) - German gas giant Uniper says the worst is still to come after Russia halts flows to Europe (CNBC) - UK energy bill boycott petition gains traction as new PM Truss under pressure to announce relief measures (CNBC) - OPEC+ agreement to cut oil supply is a ‘political snub’ to Biden and the European Union: Consultancy (CNBC) - Russia has cut off gas supplies to Europe indefinitely. Here’s what you need to know (CNBC) - Takeover rumours boost Darktrace share price ahead of FY22 report (OPTO) - ARK buys 266,717 Nvidia shares despite 52-week low (OPTO) - U.S. travellers are getting bigger discounts in much of Europe amid favourable euro-dollar exchange rate (CNBC)

Global Markets Headlines

- Bed Bath & Beyond Names Interim CFO After Death of Gustavo Arnal (WSJ)
- Volkswagen to List Porsche in One of Biggest IPOs in Years (WSJ)
- Germany to keep two nuclear plants available as a backup and burn coal as it faces an energy crisis brought on by war and climate change (CNBC)
- German gas giant Uniper says the worst is still to come after Russia halts flows to Europe (CNBC)
- UK energy bill boycott petition gains traction as new PM Truss under pressure to announce relief measures (CNBC)
- OPEC+ agreement to cut oil supply is a ‘political snub’ to Biden and the European Union: Consultancy (CNBC)
- Russia has cut off gas supplies to Europe indefinitely. Here’s what you need to know (CNBC)
- Takeover rumours boost Darktrace share price ahead of FY22 report (OPTO)
- ARK buys 266,717 Nvidia shares despite 52-week low (OPTO)
- U.S. travellers are getting bigger discounts in much of Europe amid favourable euro-dollar exchange rate (CNBC)

Click on the hyperlink for further information on the headlines, check out our insights panel on the CMC Markets NextGen platform or you can follow us on Twitter @Azeem__Sheriff & @CMCMarketsAUSNZ for up-to-date market news.

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

ASX Economic Calendar

Trading Idea of the Day

(IPL – Incitec Pivot Ltd)

Potential BUY
Key levels on the chart - consider taking trades from key support/resistance levels
With Russia only having a few countries participating in its market, countries like AUS are creating their own fertiliser farms to fill the gap in supply.
IPL is at the forefront of this project and will have established farms over the next 2-3yrs.

Macro-Economic Calendar

Economic Calendar (TODAY)

Economic Calendar (YESTERDAY)

Need 4 Speed - Pre Market ASX Report - 07/09/22