Rise and Shine: What you need to know before the ASX opens
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On Stockhead today, we review some small caps that have a steady stream of news coming, stock valuations are surging as medtech embraces SAAS, and Garimpiero lays out the case for another re-rating of Image Resources.
We’re crossing over into a new month this week, which means investors will have plenty of key data and events to consider in the days ahead.
Highlighting the local calendar is the all-important inflation numbers for the September quarter, which will be released on Wednesday (11:30am eastern).
The median forecast is for annual headline CPI growth to come in at 1.7 per cent — still below the the RBA’s 2-3 per cent target. The underlying (core) inflation rate is also expected to remain subdued.
On Thursday markets will get another update on domestic building approvals (which have slumped), along with Q3 trade data and monthly figures from the RBA on credit growth.
Before all that, RBA governor Phillip Lowe will give a speech on Tuesday evening, and October house price data from CoreLogic is out on Friday.
Looking abroad, all eyes will be on the US Federal Reserve’s interest rates announcement on Wednesday night.
Futures markets are currently almost fully priced for the Fed to cut rates again, continuing the recent easing path enacted by central banks around the world.
The Fed decision will follow the latest reading for US Q3 GDP (also on Wednesday). Two other central banks (Canada on Wednesday, and Japan on Thursday) will also make policy announcements.
And rounding out a big week, the US will get consumption and expenditure figures on Thursday which includes PCE inflation data (the US Fed’s preferred inflation measure).
That will be followed by all-important US employment numbers for October after Asian markets close on Friday.
The following companies are in trading halts and are expected to exit in the next 48 hours.
Kazia Therapeutics (ASX:KZA) – capital raising
Genetic Signature (ASX:GSS) – capital raising
Cardinal Resources (ASX:CDV) – feasibility study results
Eagle Mountain Mining (ASX:EM2) – asset acquisition
Gold: US$1,504.51 (+0.05%)
Silver: $18.038 (+1.3%)
Oil (WTI): $56.66 (+0.76%)
Oil (Brent): $61.98 (+0.50%)
Coal: $67.70 (-0.25%)
Iron 62pc Fe: $87.98 (+0.7%)
AUD/USD: 0.6823 (+0.08%)
Bitcoin: $9,671.10 (+4.57%)
Readers took interest in a range of different topics last week, from how baby boomers engage with fintech stocks to an analysis of why a number of US companies have struggled since listing on the ASX. Our 10 most popular stories are here in the latest edition of Kick Back.
These were the 10 most tipped stocks (weekly) last Friday on Stocks in Play: