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Trading Idea of the Day
ASX:GMG - Goodman Group Ltd (BULLISH - long term & BEARISH - short term)
- Key levels on the chart - consider taking trades from key support/resistance zones.
- Goodman Group is on track for operating earnings per share (EPS) growth of 11% in FY23.
- Within the recent 1Q FY23 update management flagged a 'patient and cautious' approach, especially given the uncertain economic outlook.
- Ord Minnett retains a Hold rating and $22 target price but flags early signs of development margins moderating from unsustainably high levels.
ASX & Economic Key Events
ASX Key Events Calendar (TODAY)
Economic Key Events (TODAY)
Economic Key Events (YESTERDAY)
OPTO For Investors Research
Article of the Day: US cannabis sales jump 12.7%
Podcast of the Day: Michael Loukas of TrueMark on why diversification isn’t always key
APAC Daily Report
Market Snapshot & Highlights as of 8:00am AEDT
EXPECTATIONS: Energy HIGHER (higher oil prices) & Materials HIGHER on overall commodity prices.
Global Markets Headlines
- Key inflation measure that the Fed follows rose 0.2% in October, less than expected (CNBC)
- Russian oil sanctions are about to kick in. And they could disrupt markets in a big way (CNBC)
- Salesforce shares slump nearly 10% after co-CEO Bret Taylor announces surprise departure (CNBC)
- China signals slight Covid policy easing — but don’t expect sweeping changes yet (CNBC)
- Tesla recalls 435,000 cars in China over rear light issue and will issue software update (CNBC)
- Fed Chair Powell says smaller interest rate hikes could start in December (CNBC)
- India may become the third-largest economy by 2030, overtaking Japan and Germany (CNBC)
(All news & data sourced from AFR / The Australian / Bloomberg / Reuters / CNBC / Wall Street Journal / Morningstar / OPTO / Trading Economics)
Disclaimer: CMC Markets Singapore may provide or make available research analysis or reports prepared or issued by entities within the CMC Markets group of companies, located and regulated under the laws in a foreign jurisdictions, in accordance with regulation 32C of the Financial Advisers Regulations. Where such information is issued or promulgated to a person who is not an accredited investor, expert investor or institutional investor, CMC Markets Singapore accepts legal responsibility for the contents of the analysis or report, to the extent required by law. Recipients of such information who are resident in Singapore may contact CMC Markets Singapore on 1800 559 6000 for any matters arising from or in connection with the information.
