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
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Trading Idea of the Day
NYSE:F - Ford Motor Group - BULLISH BIAS
- Key levels on the chart - consider taking trades from key support/resistance levels
- Bank of America forecasts that Ford will outpace Tesla in sales by 2025, with its plans to have 7 new EV models by 2026, providing consumers with purchasing power, flexibility and utility amongst other EV producers.
- Given Ford's dominance in the motor vehicle space and real estate for showrooms, we could see their EVs dominating the scene in all showrooms at a faster pace which will secure market share for new consumers entering the market.
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ASX & Economic Key Events
ASX Key Events Calendar (TODAY)
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Economic Key Events (TODAY)
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Economic Key Events (YESTERDAY)
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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 FLAT (flat crude) & Materials MIXED.
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Global Markets Headlines
State funeral for Queen Elizabeth II ushers in the end of an era (CNBC)
Ford warns investors of an extra $1 billion in supply chain costs during the third quarter (CNBC)
China’s economy may have done well in August but outlook remains grim (CNBC)
India’s rice export ban: The Asian countries set to be hit hard — and those that’ll profit (CNBC)
Volkswagen shares up slightly on Porsche’s 70-75 billion euro valuation (CNBC)
Biden says U.S. forces would defend Taiwan in the event of a Chinese invasion (CNBC)
China central bank cuts 14-day reverse repo rate, steps up cash injections (CNBC)
Why are Deep Yellow shares outperforming Australian uranium stocks? (OPTO)
(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.
