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 NextGen platform and follow us on Twitter:
Azeem Sheriff - @Azeem__Sheriff
CMC Markets - @CMCMarketsAUSNZ
Trading Idea of the Day
ASX:XJO - ASX 200 - BEARISH BIAS
- ASX taking cues from US equities, long term bearish view but we may see some respite in near term until next FOMC meeting
- ASX can be supported by materials sector on back of higher commodity prices so we may not see the same level of impact from US equities on ASX, however risk is to the downside.
ASX & Economic Key Events
ASX Key Events Calendar (TODAY)
Economic Key Events (TODAY)
Economic Key Events (YESTERDAY)
No key events on Monday
OPTO For Investors Research
Article of the Day: Apple share price falls after cutting 6 million iPhone 14 units
Podcast of the Day: Portfolio manager Caroline Cai’s take on an emerging markets’ debt crisis
APAC Daily Report
Click here to access our daily APAC report, prepared by my fellow market analyst @TinaTeng_CMC
Market Snapshot & Highlights as of 7am AEST
EXPECTATIONS: Energy HIGHER (higher oil) & Materials HIGHER on rising base metal prices.
Global Markets Headlines
- Rivian says it’s on pace to meet 2022 goals after production grew 67% in the third quarter (CNBC)
- UK finance minister pledges no more distractions after ‘tough day’ sees U-turn on top tax rate (CNBC)
- Credit Suisse shares pare losses after earlier plunging as much as 10% (CNBC)
- Peloton will put bikes in every Hilton-branded hotel in the U.S. (CNBC)
- Apple CEO Tim Cook doesn’t like the metaverse—he predicts a different tech will shape the future (CNBC)
- Toyota CEO on why he’s not all-in on EVs, what made him do a ‘happy dance’ (CNBC)
- Oil prices could soon return to $100 as OPEC+ considers ‘historic’ cut, analysts say (CNBC)
- Turkey’s inflation hits 83% as Erdogan vows to keep cutting interest rates (CNBC)
(All news & data sourced from AFR / The Australian / Bloomberg / Reuters / CNBC / Wall Street Journal / Morningstar / OPTO / Trading Economics)
Disclaimer: CMC Markets is an execution-only service provider. 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.