ASX 200 to drop again: 12 shares you need to watch today

Credit: Jaan

The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is expected to slip further today. The Sydney Futures Exchange is pointing to a 25-point dip at the open amid mixed earnings results in the US and continued angst ahead of next week’s US presidential election.

Here’s a quick recap:

  • FTSE 100 (UK): down 0.8%
  • DAX (Germany): down 0.43%
  • CAC 40 (France): down 0.07%
  • Dow Jones (USA): down 0.16%
  • NASDAQ (USA): down 0.92%

Retailers will likely be in the spotlight today ahead of the Australian Bureau of Statistics’ retail trade data.

That could impact shares of businesses such as JB Hi-Fi Limited (ASX: JBH), Harvey Norman Holdings Limited (ASX: HVN) and Myer Holdings Limited (ASX: MYR).

Fellow retail business Adairs Ltd (ASX: ADH) will also be in focus after its shares collapsed 42% on Thursday following a very disappointing trading update.

Elsewhere, the spot gold price remained mostly flat overnight. Some attention could therefore be given to the gold miners themselves given how strongly their shares have rallied so far this week. That could include businesses such as Newcrest Mining Limited (ASX: NCM) and Northern Star Resources Ltd (ASX: NST).

Domino’s Pizza Enterprises Ltd. (ASX: DMP) shares rallied on Thursday as well following a very bullish price target upgrade by Morgan Stanley. Trading at $64.46 currently, the analysts think the shares could target $95, up from their previous target of $80.

On the other hand, analysts from Deutsche Bank downgraded their views on REA Group Limited (ASX: REA) which sparked a selloff on Thursday. The shares have fallen to around $47.50, which could attract some investors back into the stock.

Other shares that could be in focus today include Mayne Pharma Group Ltd (ASX: MYX), Boral Limited (ASX: BLD) and Fairfax Media Limited (ASX: FXJ). Boral and Fairfax shares both fell sharply on Thursday, whereas Mayne Pharma was one of the top performing shares from the ASX 200 cohort.

Finally, Webjet Limited (ASX: WEB) shares have fallen 14.5% over the last two sessions, and could thus receive some attention today.

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Motley Fool contributor Ryan Newman has no position in any stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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