treasury wine estates

The ASX fell 1.06% today following the release of stronger-than-expected CPI data out in the US overnight which sent shockwaves through investor confidence, renewing fears of the Fed continuing its aggressive rate hike stance. Investors sold out of financial stocks today amid fears of increasing doubtful debts on bank balance sheets resulting from further rate hikes anticipated. Reporting season also continued today with a number of big names releasing results.

The Commonwealth Bank of Australia (ASX:CBA) reported first half results today that included 10% growth in NPAT, an interim dividend of $2.10/share, Net Interest Margin up 18-basis points to 2.10% and operating performance up 18%. Investors sharply sold out of CBA shares today though after the bank increased its loan impairment expense by 77.1% which management blamed on current macro conditions including rising interest rates and prolonged inflationary pressures.

Australian conglomerate Wesfarmers (ASX:WES) also released first half results today including revenue jumping 27% on the PCP to $22.558bn, 114% increase in Kmart EBIT, overall NPAT up 14% to $1.4bn, and the company declared an 88 cents per share dividend. Wesfarmers’ Chemicals, Energy and Fertilisers revenue jumped 30.2% to $1.4bn, but the company’s Catch business softened to report a $108m loss. Overall, investors were impressed with the results, sending the Wesfarmers share price up 1.8% today.

The winning stocks from today’s session were led by Star Entertainment Group (ASX:SGR) rallying 14.40%, while G.U.D Holdings (ASX:GUD) added 8.10% and Cochlear (ASX:COH) rose 7.75% on the back of first half results. And on the losing end Brainchip Holdings (ASX:BRN) fell 13.56%, Corporate Travel Management (ASX:CTD) lost 8.7% and Treasury Wine Estates (ASX:TWE) dropped 6.91%.

The most traded stocks by Bell Direct clients today were Commonwealth Bank of Australia (ASX:CBA), Beach Energy (ASX:BPT) and Melbana Energy (ASX:MAY).

On the commodities front today, the price of oil took a dive today to just below US$79/barrel after an industry report showed US crude inventories rose by 10.5m barrels last week, well above the expected 321,000 barrel rise. Gold is trading down 0.43% at US$1846/ounce and iron ore is up 1.22% at US$124.50/tonne.

The Aussie dollar is buying US$0.69, 92.23 Japanese Yen, 57.34 British Pence, and NZ$1.10.

The Aussie share market added 0.24% this week (Mon-Thu), as investors awaited the highly anticipated rate decision out of the Federal Reserve in the US. Information technology stocks had the biggest boost this week, coat tailing on the tech-heavy Nasdaq as investors regain appetite for growth stocks.
 
 In this week's wrap, Grady covers:

• (0:28) Where inflation is hitting hardest in the current environment
• (2:07) What the current inflation rate & RBA rate hike means for markets
• (3:36) The best performing stocks in the ASX200
• (5:06) The most traded stocks & ETFs by Bell Direct clients
• (5:36) Three economic news items to watch out for

In this episode of the Vint Podcast,  Brady and Billy discuss sparkling wine from around the world and make some suggestions for your holiday enjoyment. Then, Tim Irwin, General Manager for Penfolds at Treasury Wine Estates joins for an illuminating conversation about the Penfolds legacy and brand, and how the label maintains such a dynamic presence in regions around the globe. Tim shares what makes Penfolds iconic, and how they include threads of consistent storytelling and branding across vintages and labels. 

Cheers!

Contact us anytime at brady@vint.co or billy@vint.co

The Vint Podcast is brought to you by the Vint Marketplace, your source for the highest quality stock of fine wines and rare whiskies. Visit www.vintmarketplace.com.

Cheers!

Past Guests Include: William Kelley, Peter Liem, Eric Asimov, Bobby Stuckey, Rajat "Raj" Parr, Erik Segelbaum, André Hueston Mack, Emily Saladino, Konstantin Baum, Landon Patterson, Heather Wibbels, Carlton "CJ" Fowler, Boris Guillome, Christopher Walkey, Danny Jassy, Kristy Wenz, Dan Petroski, Buster Scher, Andrew Nelson, Jane Anson, Tim Irwin, Matt Murphy, Allen Meadows, Altan Insights, Tim Gaiser, Vince Anter, Joel Peterson, Megan O'Connor, Adam Lapierre, Jason Haas, Ken Freeman, Lisa Perrotti-Brown, Skyler Weekes, Mary Gorman McAdams, Nick King, Bartholomew Broadbent, Nick Jackson, Dillon Sykes, Mark Bell, David Keck, John Szabo, Channing Frye, Jay Hack, Julia Harding, Austin Hope, Michael Minnillo, Jermaine Stone, Jim Madsen, Santiago Archaval, Tom Smith, and more!

Disclaimer: https://vint.co/disclaimer

In this episode of the Vint Podcast,  Brady and Billy chat with two professionals involved with wine branding. First, we catch up with Joel Peterson who is the Executive Director for the Paso Robles Wine Country Alliance, overseeing many aspects of the promotion of Paso Robles as a destination for wine, alongside wineries and other hospitality businesses. Then, we welcome Megan O'Connor, the Brand Director at Treasury Wine Estates and an expert in messaging and storytelling around wine labels and producers, as well as the differing approaches to winery-level branding based on the particularities of a specific wine region. We hope these interviews provide new insight into how brands are developed and stories are told within the wine industry!

The Vint Podcast is brought to you by the Vint Marketplace, your source for the highest quality stock of fine wines and rare whiskies. Visit www.vintmarketplace.com.

Cheers!

Past Guests Include: William Kelley, Peter Liem, Eric Asimov, Bobby Stuckey, Rajat "Raj" Parr, Erik Segelbaum, André Hueston Mack, Emily Saladino, Konstantin Baum, Landon Patterson, Heather Wibbels, Carlton "CJ" Fowler, Boris Guillome, Christopher Walkey, Danny Jassy, Kristy Wenz, Dan Petroski, Buster Scher, Andrew Nelson, Jane Anson, Tim Irwin, Matt Murphy, Allen Meadows, Altan Insights, Tim Gaiser, Vince Anter, Joel Peterson, Megan O'Connor, Adam Lapierre, Jason Haas, Ken Freeman, Lisa Perrotti-Brown, Skyler Weekes, Mary Gorman McAdams, Nick King, Bartholomew Broadbent, Nick Jackson, Dillon Sykes, Mark Bell, David Keck, John Szabo, Channing Frye, Jay Hack, Julia Harding, Austin Hope, Michael Minnillo, Jermaine Stone, Jim Madsen, Santiago Archaval, Tom Smith, and more!

Disclaimer: https://vint.co/disclaimer

Yesterday, the ASX200 posted its first gain for the week as Tech shares rallied. 

In the US, all three benchmarks closed in the green, with the Dow rallying over 500 points, the S&P500 lifting 74 points and the Nasdaq up 250 points. Better-than-expected earnings reports were released from three major banks, as well as Walgreens and UnitedHealth. Also adding to the positive market sentiment was a lower-than-anticipated number of weekly jobless claims. 

Following the broad rally on Wall Street, the recovery in megatechs and the advance of base metals, oil, and gold; the futures are suggesting the Aussie share market will open 0.64% higher this morning.

What to watch today:

• In economic data, yesterday, the unemployment rate worsened from 4.5% to 4.6%. This was better than the 4.7% forecast. A total of 138,000 lost their jobs, while monthly hours worked increased by 15 million hours. 
• Today, keep watch of BHP (ASX:BHP) and Rio Tinto (ASX:RIO)  after its US listed shares jumped in line with commodities. BHP was up 3.9% and RIO gained 3.2%. RIO is also set to release its quarter report today.
• Companies going ex-dividend today include Harvey Norman Holdings (ASX:HVN) and Rhipe (ASX:RHP). While, Treasury Wine Estates (ASX:TWE) and BNPL stock Splitit (ASX:SPT) hold their AGMs today.
• The most traded stocks by Bell Direct clients yesterday, they included Strickland Metals (ASX:STK) which rose over 23% yesterday after the company discovered a high-grade zinc-lead at its Iroquois prospect in WA. Another most traded stock was a2Milk (ASX:A2M) which rose 4% yesterday. The catalyst behind A2M’s rise has been the release of one of its smaller rivals Bubs Australia’s (ASX:BUB) first quarter update.
• The oil price continues to trade at 7-year high territory, lifting 1% to US$81.49 a barrel. This comes after top oil producer Saudi Arabia dismissed calls for additional OPEC supply and the International Energy Agency stated that rising natural gas prices could boost demand for oil. 
• The gold price also traded higher, rising to a one-month high. A dip in the US dollar and bond yields led to investors turning to bullion as an inflation hedge. The uranium price jumped above US$48 a pound, moving closer to its 9-year high hit last month. And the seaborne iron ore price traded slightly higher at $US122 a tonne. 

Trading ideas:

• Bell Potter has initiated coverage on hardware company, Coventry Group (ASX:CYG) with a BUY recommendation on the stock and a $1.90 price target. 
• Bullish charting signals have been identified in Ioneer (ASX:INR), IDT Australia (ASX:IDT) and Hastings Technology Metals (ASX:HAS), according to Trading Central.