G'day folks and welcome to another trading day with your friendly, neighbourhood CMC Market Analyst!
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Content Summary
- ASX & Economic Key Events
- Trading Idea of the Day
- APAC Daily Report
- Market Snapshot & Highlights
- Global Markets Headlines
ASX & Economic Key Events
ASX Key Events Calendar (TODAY)
Economic Key Events (TODAY)
Economic Key Events (YESTERDAY)
Trading Idea of the Day
NYSE: DIS - Walt Disney Co
- BULLISH BIAS
- Key levels on the chart - consider taking trades from key support/resistance levels
- The CEO made a statement in the last earnings report that the company's earnings are heavily reliant on consumer demand, therefore, as COVID deteriorates and consumers are more confident to travel and readjust their discretionary spending patterns, the CEO expects demand for Disney's good and services to pick up, especially with Disneyland.
- There is currently a focus on growing the streaming services subscription to compete with the likes of Netflix, although still quite far, their competitive advantage is price and diversifying their content for all ages.
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 & Material sectors potentially DOWN on the back of lower commodity prices and a higher USD
Global Markets Headlines
- Stocks Suffer Worst Day Since June 2020 (WSJ)
- U.S. considers China sanctions to deter Taiwan action; Taiwan presses EU (CNBC)
- Inflation is up 8.3% since last year—and more Fed rate hikes are likely looming (CNBC)
- The Fed will be more hawkish — expect a 75 bps hike in November, says Virtus Investment Partners’ Terranova (WSJ)
- Bitcoin slumps more than 9% after inflation report causes investors to flee risky assets (CNBC)
- Why Toyota – the world’s largest automaker – isn’t all-in on electric vehicles (CNBC)
- Disney shares jump after Dan Loeb dismisses ESPN spinoff (OPTO)
- U.S. Banks Lost a Record $370 Billion in Deposits Last Quarter (WSJ)
- Amazon to Fund Raises for Delivery Drivers Amid Tight Labor Market (WSJ)
(All news & data sourced from AFR / The Australian / Bloomberg / Reuters / CNBC / Wall Street Journal / Morningstar / OPTO / Trading Economics)
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