Daily Market Reports | Jan 18 2022
| World Overnight | |||
| SPI Overnight | 7340.00 | + 22.00 | 0.30% |
| S&P ASX 200 | 7417.30 | + 23.40 | 0.32% |
| S&P500 | 4662.85 | + 3.82 | 0.08% |
| Nasdaq Comp | 14893.75 | + 86.94 | 0.59% |
| DJIA | 35911.81 | – 201.81 | – 0.56% |
| S&P500 VIX | 19.19 | – 1.12 | – 5.51% |
| US 10-year yield | 1.77 | + 0.06 | 3.57% |
| USD Index | 95.26 | + 0.09 | 0.09% |
| FTSE100 | 7611.23 | + 68.28 | 0.91% |
| DAX30 | 15933.72 | + 50.48 | 0.32% |
Greg Peel is scheduled to return after Australia Day.
Overnight price action was quiet and mixed while US investors had a day off thus no firm direction was coming from either US treasuries or equity markets. Bond futures are signalling the yield on US treasuries hasn't peaked just yet.
Australian investors used the relative quiet yesterday to scoop up some beaten-down shares as Wesfarmers reported there is no need to start panicking about omicron and supply chains just yet.
Not that Inghams Group would necessarily agree with that sentiment, or Bega Cheese for that matter.
China surprised with a rate reduction yesterday as its economy continues to generate soft data, even though forecasts were beaten with yesterday's Q4 GDP number.
It did not help iron ore. Most base metals faced more selling orders too, but oil and precious metals stood their ground.
SPI futures are suggesting investors locally are of the intent to buy more bargains ahead of the February reporting season, soon upon us.
Meanwhile, Australian retirees might do themselves one big favour and read the latest announcement made by US powerhouse JP Morgan. The banking giant is attempting to outspend all the fintechs combined that keep chipping away at core markets and clientele.
The underlying message is the future ahead requires investing; lots of it. Survival of the fittest has become a genuine contest, and this is but the early stage of the industry challenge that is building, globally.
| Spot Metals,Minerals & Energy Futures | |||
| Gold (oz) | 1819.20 | + 1.10 | 0.06% |
| Silver (oz) | 22.98 | + 0.02 | 0.09% |
| Copper (lb) | 4.43 | + 0.01 | 0.14% |
| Aluminium (lb) | 1.36 | + 0.01 | 0.41% |
| Lead (lb) | 1.07 | – 0.00 | – 0.43% |
| Nickel (lb) | 10.12 | – 0.07 | – 0.73% |
| Zinc (lb) | 1.61 | – 0.01 | – 0.44% |
| West Texas Crude | 84.30 | + 0.48 | 0.57% |
| Brent Crude | 86.53 | + 0.47 | 0.55% |
| Iron Ore (t) | 124.00 | – 2.75 | – 2.17% |
The Australian share market over the past thirty days…
| BROKER RECOMMENDATION CHANGES PAST THREE TRADING DAYS | |||
| AGL | AGL Energy | Upgrade to Outperform from Neutral | Credit Suisse |
| AKE | Allkem | Upgrade to Outperform from Neutral | Credit Suisse |
| AWC | Alumina Ltd | Upgrade to Outperform from Neutral | Credit Suisse |
| BGA | Bega Cheese | Downgrade to Hold from Add | Morgans |
| CVN | Carnarvon Energy | Downgrade to Accumulate from Buy | Ord Minnett |
| CWY | Cleanaway Waste Management | Upgrade to Overweight from Equal-weight | Morgan Stanley |
| JBH | JB Hi-Fi | Upgrade to Add from Hold | Morgans |
| PAR | Paradigm Biopharmaceuticals | Upgrade to Hold from Reduce | Morgans |
| PLS | Pilbara Minerals | Upgrade to Neutral from Underperform | Credit Suisse |
| QBE | QBE Insurance | Upgrade to Outperform from Neutral | Macquarie |
For more detail go to FNArena's Australian Broker Call Report, which is updated each morning, Mon-Fri.
All overnight and intraday prices, average prices, currency conversions and charts for stock indices, currencies, commodities, bonds, VIX and more available on the FNArena website. Click here. (Subscribers can access prices on the website.)
(Readers should note that all commentary, observations, names and calculations are provided for informative and educational purposes only. Investors should always consult with their licensed investment advisor first, before making any decisions. All views expressed are the author's and not by association FNArena's – see disclaimer on the website)
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