The S&P/ASX 200 Index (ASX: XJO) had a very pleasing day during trade today. As of market close, the ASX 200 gained a healthy 0.67%, putting the index at around 7,251.3 points. But that’s nothing compared to what the Novonix Ltd (ASX: NVX) sales price got up to this Wednesday.

Novonix shares were on fire today. The ASX battery technology company’s shares ended up soaring 6.04% to $1.93 a share today.

So what might have lifted Novonix’s boat so dramatically this session?

Why did the Novonix share price rise today?

Well, it’s nothing to do with anything out of Novonix itself. This company hasn’t made any ASX announcements in December at all, as of yet.

But what we do know today is that most ASX tech shares outperformed the broader market. The ASX 200 tech sector was one of the best-performing sectors on the ASX today, with many other tech shares enjoying stellar gains.

These included Xero Limited (ASX: XRO), up 2.97%, and Block Inc (ASX: SQ2), which rocketed 8.15%.

Lithium share Core Lithium Ltd (ASX: CXO) has also lifted by close to 2.64%.

So it’s possible that Novonix shares are getting a boost from what happened on the US markets overnight. Last night (our time), the US markets rocketed after a lower-than-expected inflation number. Lower inflation could mean lower interest rates.

And rising interest rates have been one of the prominent drivers in the rather awful year most tech shares, both here and over in the US, have endured in 2022.

The tech-heavy NASDAQ-100 (NASDAQ: NDX) was up a solid 1.1% last night, so it’s possible that these gains flowed into some ASX tech shares today, including Novonix.

The post Why did the Novonix share price have such a stellar run today? appeared first on The Motley Fool Australia.

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More reading

• Here are the top 10 ASX 200 shares today
• The Novonix share price has crashed another 14% already this week. What’s going on?
• Why did the Novonix share price crash 16% in November?
• These were the worst performing ASX 200 shares in November
• Here are the top 10 ASX 200 shares today

Motley Fool contributor Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Block and Xero. The Motley Fool Australia has positions in and has recommended Block and Xero. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The leading investors from Wilson Asset Management (WAM) have shared two compelling S&P/ASX 300 Index (ASX: XKO) shares on their radar.

WAM operates several listed investment companies (LICs). Some, like WAM Leaders Ltd (ASX: WLE), focus on larger companies.

Meanwhile, WAM Capital Limited (ASX: WAM) targets “the most compelling undervalued growth opportunities in the Australian market”.

But does WAM have a claim of stock-picking pedigree? The WAM Capital portfolio has delivered an investment return of 15% per annum since its inception in August 1999. That’s before fees, expenses, and taxes. This gross return outperformed the All Ordinaries Total Accumulation Index (ASX: XAOA) return of 8.4% per annum over the same timeframe.

With that in mind, here are the two ASX 300 shares WAM Capital has outlined in its recent monthly update.

Fisher & Paykel Healthcare Corp Ltd (ASX: FPH)

Fisher & Paykel is described as a “leading designer, manufacturer and marketer of products and systems for use in acute and chronic respiratory care, surgery and the treatment of obstructive sleep apnoea”.

At the end of November 2022, the ASX healthcare share was one of the largest ASX shares in the WAM Capital portfolio.

Last month, the ASX 300 share announced its FY23 half-year result. For the six months to 30 September 2022, it saw total operating revenue of $690.6 million. While net profit after tax (NPAT) of $95.9 million beat market expectations.

The investment team said it was pleasing that the business stated that it expects FY23 second-half revenue to be higher than the first half.

There was also a suggestion that the backlog of consumables that were purchased by hospital customers during the COVID-19 pandemic “is beginning to clear”.

Over the last month, the Fisher & Paykel share price has gone up almost 20%.

Perenti Ltd (ASX: PRN)

WAM describes Perenti as a 35-year-old business that is one of Australia’s largest mining services companies. It provides surface and underground mining and drilling services.

After “favourable” movements in the Australian dollar and improving conditions for operations and commercially, the ASX 300 share announced an upgrade to its FY23 earnings guidance last month.

Perenti is now thinking that FY23 revenue will be between $2.6 billion to $2.7 billion. While earnings before interest, tax and amortisation (EBITA) could be between $215 million to $230 million – this is ahead of market expectations.

The fund manager concluded:

We continue to remain bullish on the outlook for Perenti as the business embarks on its 2025 strategy to focus on its core capabilities.

The post 2 undervalued ASX 300 shares to be ‘bullish’ about: fund manager appeared first on The Motley Fool Australia.

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More reading

• Which ASX mining shares have had their dividend yields slashed the most in 2022?
• 3 best-performing ASX 200 healthcare shares in November
• Here are 3 ASX 200 shares going ex-dividend next week
• Here are the top 10 ASX 200 shares today
• Here are the top 10 ASX 200 shares today

Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The S&P/ASX 200 Index (ASX: XJO) spent a second consecutive day in the green on Wednesday. At the end of today’s session, the index was 0.7% higher at 7,251.3 points.

So, what was its top performing sector? It was none other than the S&P/ASX 200 Utilities Index (ASX: XUJ), lifting 2.1%. It follows on from the 4.3% plunge recorded by the sector on Monday.

The S&P/ASX 200 Energy Index (ASX: XEJ) also put out a decent gain, rising 1.3% today on the back of a good night for oil prices.

The Brent crude oil price gained 3.4% to trade at US$80.68 a barrel overnight while the US Nymex crude oil price lifted 3% to US$75.39 a barrel.

Finally, the S&P/ASX 200 Financials Index (ASX: XFJ) brought up the rear today, lifting just 0.1%.

But which ASX 200 share outperformed all its peers to post Wednesday’s biggest gain? Keep reading to find out.

Top 10 ASX 200 shares countdown

The index’s best-performing stock today was St Barbara Ltd (ASX: SBM). And it might be one of the last times the gold miner is included on this list – it’s set to be dumped from the ASX 200 next week.

The St Barbara share price soared 14% today amid news of its plan to merge with Genesis Minerals Ltd (ASX: GMD).

Today’s biggest gains were made by these shares:

ASX-listed company	Share price	Price change
St Barbara Ltd (ASX: SBM)	$0.74	13.85%
Block Inc (ASX: SQ2)	$104.31	8.15%
Chalice Mining Ltd (ASX: CHN)	$6.31	6.41%
Novonix Ltd (ASX: NVX)	$1.93	6.04%
Pinnacle Investment Management Group Ltd (ASX: PNI)	$9.24	5.72%
West African Resources Ltd (ASX: WAF)	$1.155	5.48%
Nickel Industries Ltd (ASX: NIC)	$1.03	4.57%
A2 Milk Company Ltd (ASX: A2M)	$6.93	4.21%
Silver Lake Resources Limited (ASX: SLR)	$1.27	4.1%
Regis Resources Limited (ASX: RRL)	$2.05	3.8%

Our top 10 shares countdown is a recurring end-of-day summary to let you know which companies were making big moves on the day. Check in at Fool.com.au after the weekday market closes to see which stocks make the countdown.

The post Here are the top 10 ASX 200 shares today appeared first on The Motley Fool Australia.

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More reading

• Here are the 3 most heavily traded ASX 200 shares on Wednesday
• Why Arafura, Block, Leo Lithium, and St Barbara shares are storming higher
• ASX 200 gold share St Barbara returns with a bang, up 25%
• Why Chalice Mining, Fortescue, Mincor, and Zip shares are dropping today
• Why Bendigo Bank, Block, Megaport, and Starpharma shares are rising today

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Block and Pinnacle Investment Management Group. The Motley Fool Australia has positions in and has recommended Block and Pinnacle Investment Management Group. The Motley Fool Australia has recommended A2 Milk. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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Thursday is shaping up to be a potentially huge day for S&P/ASX 200 Index (ASX: XJO) shares.

ASX 200 shares are already enjoying a strong run today, with the benchmark index up 0.66% in late afternoon trade.

The market rally comes on the back of lower-than-expected inflation data out of the United States overnight.

The US Labor Department reported that with November’s 0.1% increase, the consumer price index (CPI) is up 7.1% year on year. Consensus expectations had forecast that figure would come in at 7.3%.

That lower-than-expected inflation print saw the S&P 500 Index finish up 0.7%.

Tomorrow could see another strong run in US equities and ASX 200 shares, with that performance hinging on the next rate hike decision from the Federal Reserve.

How ASX 200 shares could surge tomorrow

Before the latest CPI print, a number of economists forecast that Fed chair Jerome Powell might keep his foot on the gas and announce another 0.75% rate hike tomorrow.

With inflation showing some signs of slowing down in the world’s top economy, consensus expectations are now for a 0.50% increase.

That would bring the federal funds rate (which is like the RBA’s cash rate) to a range of 4.25% to 4.50%. That’s up from a range of 0% to 0.25% at the start of the year and would mark the highest interest rates in the US since 2008.

With a 0.50% increase largely baked into the market, this would be unlikely to drive any outsized gains on the ASX 200 tomorrow.

And indeed, there are some reasons to believe the Fed won’t raise by less than that, or even better, pause its tightening cycle.

Chief amongst those reasons is the continuing strength of the US labour market along with an unexpected uptick in services inflation.

US investment analyst at eToro Callie Cox said that was a “discouraging detail”.

“Services inflation accelerated again last month, and that’s got to give the Fed some pause in declaring this report a victory,” Cox said. “The Fed has more control over services prices, so fiery hot services inflation could hint that Powell needs the economy to cool down more.“

Deputy chief economist at Bank of Montreal Michael Gregory is among those expecting a 0.50% increase. According to Gregory (courtesy of The Australian Financial Review):

Reflecting a higher policy rate profile, we’re expecting to see slower growth and higher joblessness. But we’re also expecting to see more stubborn inflation indicating that the net risks for policy rates rest decidedly on the upside.

Chief US economist at RBC Capital Markets Tom Porcelli (quoted by The Australian) added that with CPI data slowing, “There is no need at this point to continue hiking rates but, of course, they will. So we’ll get the much anticipated 50 basis point hike tomorrow.”

We’ll find out soon enough what Powell and the Federal Open Market Committee members decide.

But if they opt for some patience and raise rates by an unexpectedly low 0.25%, ASX 200 shares could be in for a huge day tomorrow.

The post Why Thursday could be huge for ASX 200 shares appeared first on The Motley Fool Australia.

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More reading

• Here are the 3 most heavily traded ASX 200 shares on Wednesday
• Why are ASX 200 investors so obsessed with Core Lithium shares right now?
• Inflation nation: Why is the ASX 200 marching higher today?
• Why is the Westpac share price wilting on Wednesday?
• Looking to buy Flight Centre shares? Here’s why this insider tips 2023 to be a big year for business

Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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