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S&P/ASX 200 morning report – PBH, YFZ & ASX travel shares in focus

The S&P/ASX 200 (ASX: XJO) won’t be going anywhere on Tuesday with the ASX closed for the national public holiday. Here’s what’s happening across the market in this shortened week.

ASX 200 finishes higher, PointsBet attracts star power

The ASX 200 finished 0.4% higher on Monday on very light volume, with most participants clearly opting for a long weekend. The consumer and IT sectors continued to outperform behind the likes of Zip Co Ltd (ASX: Z1P) and Kogan.com Ltd (ASX: KGN), which finished 2.6% and 3.8% higher, respectively.

Despite the approval of the Pfizer vaccine in Australia, both Flight Centre Travel Group Ltd (ASX: FLT) and Webjet Limited (ASX: WEB) fell more than 3% as the Australia-New Zealand travel bubble was put on hold after another local transmission of the so-called South African COVID-19 strain.

Fortescue Metals Group Limited (ASX: FMG) continued its strong run, adding 4.0% ahead of its trading update on Thursday and following Andrew Forrest’s well-publicised speech last week.

Up and coming sports gambling operator PointsBet Holdings Ltd (ASX: PBH) jumped 0.6% after announcing the well-known Shaquille O’Neal as the next Brand Ambassador for Australia, the company continuing to seek world domination.

Youfoodz share price recovers lost ground, Tyro provides update

After falling 33% from its listing price, meal kit producer Youfoodz Holdings Ltd (ASX: YFZ) reaffirmed prospectus guidance, highlighting how much it was benefitting from the stay-at-home trend. Revenue for the final quarter of 2020 increased by 25.4% to $36.7 million, with second-half revenue up 15.6% to $73.6 million in total. The update was solid enough to send the Youfoodz share price 16.1% higher.

Tyro Payments Ltd (ASX: TYR) appears to have overcome its well-publicised outages, with January sales to date up 10% to $1.41 billion compared to 2020 levels, which follows a 19% increase in December. Tyro shares finished the day 1.2% lower.

US tech stocks rise ahead of earnings

US markets rallied despite expectations that fiscal stimulus may now be pushed back until mid-March, the Nasdaq adding 0.7% and the S&P 500 0.4%.

Investors are clearly positioning ahead of quarterly earnings results from the likes of Microsoft (NASDAQ: MSFT), Apple (NASDAQ: AAPL), Tesla (NASDAQ: TSLA) and Facebook (NASDAQ: FB) representing 65% of the S&P 500’s market capitalisation, which are due on Thursday and Friday Australian time.

European markets fell with the French Government once again considering nationwide lockdowns, highlighting the difficulty and reliance that now stands on vaccines being rolled out appropriately.

An insight into ‘modern day’ trading comes in the form of GameStop (NYSE: GME), a video game retailer whose share price doubled before finishing just 18% higher in a single session. It has become a hunting ground of both short sellers and speculative day traders.

The Golden Rules of Investing

We might be experts in retirement, but with combined financial advice experience of 35+ years, we’ve nearly seen it all. 

In mid-2023, our senior team at Wattle Partners Financial Planning put the finishing touches on a brand-new report “The Golden Rules of Investing“.

In this free report, we outline the key principles that determine all of the portfolio construction and investment decisions of Wattle Partners. Collated over decades, this paper should be seen as a work-in-progress, constantly under review in light of the ever-evolving nature of markets. 

You’ll find the free report on my Author page. Simply click the button below to view the Golden Rules.

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Disclosure: At the time of publishing, Drew owns shares in Zip and Tyro Payments.

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Wattle Partners is a financial advice firm, servicing clients around Australia, specialising in retirement planning (pre and post retirement). 

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