ASX Market Update:
Australia's stock market is up marginally on Friday, tracking the overall positive overnight signals from international markets. The S&P/ASX 200 benchmark is still above 7,600 on account of strong gains in technology stocks that closely followed those of their NASDAQ counterparts and a promising picture for demand for chips used in artificial intelligence products.
The latest domestic data indicating that Australia's private sector activity expanded in February for the first time in the previous five months also caused traders to react vigorously.
Market Outlook:
It is anticipated that global growth will be below average and that inflation will decline to meet the targets set by central banks in many economies. In 2024, the average GDP growth of Australia's principal trading partners is anticipated to decelerate, thereby impeding the growth of demand for Australian goods and services. Central banks generally forecast that inflation in advanced economies will fall over the next year or so to be consistent with their targets because of upside risks.
The valuations of ASX stocks have gone through the roof, even with questionable fundamentals in some. Despite the rich valuations, the stocks are unstoppable and trending higher with caution. But does this mean that one should dump all his holdings?
We have a 7 Day Trial going on.......
Stock of the Week Report:
We cover one interesting company regularly every Thursday, highlighting the top ASX 300. Our team of Stock Market Analysts keeps an eye out and covers a target company that we believe is potentially undervalued in the market but, in fact, has the upside potential to perform ahead of the general market expectation. We typically search out companies that other Stock Market Advisors or general market experts have ignored, overlooked, or simply misunderstood. They can be less well-known organizations or, in some cases, big names. If we think the market is out of step with the company's real potential, we will recommend. This allows you to look into a company with the potential for stable growth.
Features:
-
Buy, sell and Hold recommendations.
-
Access to the past recommendations and past reports
-
In-depth Research backed by Fundamental Checks and Technical Prowess from Industry Experts
DAILY ANALYSIS
To keep up with the latest on what's hot and what's not, our analysts give their views on the recent market movements and developments. You will be getting 7 Reports on ASX Stocks everyday.
Publishing Time:
Veye Pty Ltd(ABN 58 623 120 865), holds (AFSL No. 523157 ). All information provided by Veye Pty Ltd through its website, reports, and newsletters is general financial product advice only and should not be considered a personal recommendation to buy or sell any asset or security. Before acting on the advice, you should consider whether it’s appropriate to you, in light of your objectives, financial situation, or needs. You should look at the Product Disclosure Statement or other offer document associated with the security or product before making a decision on acquiring the security or product. You can refer to our Terms & Conditions and Financial Services Guide for more information. Any recommendation contained herein may not be suitable for all investors as it does not take into account your personal financial needs or investment objectives. Although Veye takes the utmost care to ensure accuracy of the content and that the information is gathered and processed from reliable resources, we strongly recommend that you seek professional advice from your financial advisor or stockbroker before making any investment decision based on any of our recommendations. All the information we share represents our views on the date of publishing as stocks are subject to real time changes and therefore may change without notice. Please remember that investments can go up and down and past performance is not necessarily indicative of future returns. We request our readers not to interpret our reports as direct recommendations. To the extent permitted by law, Veye Pty Ltd excludes all liability for any loss or damage arising from the use of this website and any information published (including any indirect or consequential loss, any data loss, or data corruption) (as mentioned on the website www.veye.com.au), and confirms that the employees and/or associates of Veye Pty Ltd do not hold positions in any of the financial products covered on the website on the date of publishing this report. Veye Pty Ltd hereby limits its liability, to the extent permitted by law to the resupply of services.