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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!
ASX & Economic Key Events
APAC Daily Report
Market Snapshot & Highlights as of 7am AEST
Global Markets Headlines
- 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)