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The ASX200 is set to trade flattish today with futures down 0.01 per cent near 8:30 am AEDT, even after following another strong session on the US markets.
The S&P500 ended up 0.22 per cent; the NASDAQ up 0.32 per cent.
Today in Australia we get NAB business confidence data at 11:30 am AEDT and the Bank of Japan interest rate decision at 2 pm AEDT.
There’s no real major Australian data this week but we get EU consumer confidence data overnight. Remember the EU consumer is more at risk of inflationary pressure due to the Red Sea issue than the US consumer. (And don’t forget Friday is Australia Day, either).
But I want to go on a tangent – the time-poor can scroll down to see today’s stocks to watch.
I’m going to keep talking about America for a moment. It’s looking like the 2024 US election will feature Biden and Trump again after ‘DeSanctimonious’, Ron DeSantis, dropped out of the race, which I’m positive everybody reading has an opinion about.
Here’s what I’m keeping tabs on – let’s assume Trump does win. We’ve seen it before. Will he really introduce a 10 per cent tariff on all imported goods into the US like he says?
It’s what people love Trump for – bold, hot takes. Regardless of your stance in the Culture Wars, Trump’s tariff plan would undoubtedly push up US consumer prices right after a busy 2024 getting inflation down.
Markets left to their own devices typically don’t care about politics, but that early 2025 CPI surprise could surely be a good way to dampen any sentiment boost we see from Fed rate cuts in 2H 2024.
In fact, the entire narrative Trump’s 10 per cent tariff plan hinges on – that America can bring back domestic manufacturing, even if it wants to – appears to ignore accepted economics: developed economies turn broadly to services-based economies most of the time.
Trump’s big villain, here, is the invisible hand itself. Anyway.
Here’s what stocks are catching eyes this morning:
The Calmer Co (ASX:CCO) has released an update on e-commerce sales.
E-commerce sales surpassed $250,000 in December of 2023.
The company’s health food drinks hit the shelves at Coles nationally this month.
Shares last traded at 0.6 cents.
Boss Energy (ASX:BOE) has issued an exploration update.
The company reported it’s posted strong drill results for its Honeymoon growth plans.
Honeymoon is a uranium play; Boss has been the beneficiary of rejuvenated interest due to higher uranium prices in 2024 YTD.
Shares last traded at $5.29.
Galileo Mining (ASX:GAL) has provided the market with an update on its actions in the new year.
Namely, the company has launched its exploration campaign for 2024.
Imaging is the name of the game for now, but the company has a drill target ready at North Callisto.
Shares last traded at 22 cents.
Cobre (ASX:CBE) has issued an update to the market regarding collaboration.
Namely: BHP has signed a 2024 XPlor Agreement with CBE.
The stock is one of the more watched copper explorer microcaps on the bourse and saw a lot of volatility in recent history.
Shares last traded at 4.1 cents.
And, Southern Cross Gold (ASX:SXG) has inked an exploration target (ET).
That target relates to its Sunday Creek project in VIC.
The estimated range for the ET goes up to 5.1 million tonnes grading at 7.2 grams of gold per tonne; ETs are generally low confidence.
Shares last traded at 94 cents.
