Well earnings season has now wrapped up, and Aussie shares are expected to start the month of September lower, amid a further sell-off in the US as investors prepare for even higher interest rates.
All three US benchmarks closed lower for the fourth straight session, and for the month of August, the Dow Jones, S&P500 and Nasdaq all finished about 4% lower.
Across the sea in Europe, markets also closed lower as investors continue to fear higher interest rates and a looming economic downturn.
What to watch today:
Trading Ideas:
Bell Potter have maintained its Buy rating on Nickel Industries (ASX:NIC), with a price target of $1.83. Bell Potter believe NIC has a strong growth outlook and undemanding valuation multiples. At its current share price of $0.99, Bell Potter’s price target of $1.83 implies about 85% share price growth in a year.
Trading Central has a bullish signal on Computershare (ASX:CPU) indicating that the stock price may rise from its close of $24.70 to the range of $26.50 – $26.90 in the next 6 days according to standard principals of technical analysis.