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Market wraps 5th January 2021

Morning Bell - Jessica Amir

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

US stocks saw their worst year start sell off since 1983. The Aussie share market however gained 1.5% yesterday, marking the best start to the year in two decades. European equities closed higher for their first trading day of the year with the UK market up 1.7% as the second vaccine went into circulation.

In the US, construction spending data rose 0.9% in November, which was less than expected but still hit a record $1.5 trillion in the month.

All eyes are on Georgia which is preparing for Senate runoff elections on Tuesday. This could give Democrats a majority in the chamber.

Local trading ideas:

  • Perenti Global (ASX:PRN), De Grey Mining (ASX:DEG) and Adairs (ASX:ADH) are giving off strong bullish charting signals according to Trading Central.