Morning Bell 2 October

Jessica Amir
October 2, 2020

The Aussie share market is eyeing a fall of 0.5% at the open.

For the first day of October in the U.S. it was a bumpy one, with equities briefly dipping into the red after a U.S. stimulus vote was delayed to next Thursday, with traders hoping it would be done sooner.

What to watch today:

  • On the economic side, retail sales are out today and are expected to fall 4.2%.
  • The oil price has fallen 4% to US$38.
  • Gold rebounded, lifting 0.9% to US$1,912.
  • The iron ore price lifted 2%.

Trading ideas:

  • Alumina (ASX:AWC) was upgraded by Citi as a buy with a new $1.80 target.
  • SSR Mining (ASX:SSR) was initiated as a UBS buy with a $33 target, following its merger with Alacer.
  • Sezzle (ASX:SZL), Netwealth (ASX:NWL) and Paradigm Biopharmaceuticals (ASX:PAR) are all showing bullish charting signals according to Trading Central.

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