The Kogan.com Ltd (ASX: KGN) share price is trading up more than 5% at $5.64, after hitting an intraday high of $5.76.

Kogan shares have been punished hard in the last 12 months, trading around their 52-week lows last month.

However, in the past month, Kogan has gained 7% and is now up another 4.3% in the previous week.

What’s up with Kogan shares?

Markets have staged a comeback in March as more clarity around inflation and interest rates has emerged.

Not only that, but COVID-19 restrictions have all but wound back while financials and commodity shares prop up the broader market.

However, amid the comeback, there’s been a rotation back to more growth-oriented shares like Kogan, even as the yields on long-dated bonds continue to spike.

Typically, rising yields on long-dated bonds hurt the valuations of growth-type shares.

However, investors have piled back into Kogan, bolstering its share price during the last two weeks of trade.

Kogan has also tracked remarkably close to the S&P/ASX All Technology index (ASX: XTX) during the last three months. As the index has staged a comeback, so too has Kogan.

The sector itself has stumbled hard in 2022 but is starting to regain as nerves settle in equity markets.

Aside from that, market pundits don’t appear to have any other reason to be bidding up the Kogan share price lately.

Quick summary on the Kogan share price

During the last 12 months, the Kogan shares price has collapsed 55% and is down another 35% this year to date.

Despite recent gains, the company’s shares are well behind the performance of the broad market.

The post Up 8% in a month, are Kogan (ASX:KGN) shares staging a comeback rally? appeared first on The Motley Fool Australia.

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• On fire! Why is the Kogan (ASX:KGN) share price up 8% right now?
• These are the 10 most shorted ASX shares

Motley Fool contributor Zach Bristow has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Kogan.com ltd. The Motley Fool Australia owns and has recommended Kogan.com ltd. 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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Markets are rangebound today as the country gears up for the pre-election federal budget. The Treasurer is expected to run a deep deficit, and several areas of spending have been identified already.

Themes of inflation, interest rates and cost of living are expected to roll throughout the delivery tonight, with undertones of fuel prices and wages growth.

No pivot points tonight

Goldman Sachs analyst Andrew Boak told Bloomberg Daybreak: Australia earlier that he expects no major policy shifts from tonight’s budget.

“The government has some headroom to move because we’ve seen a much stronger than expected improvement in the labour market and higher commodity prices, so tax receipts will be stronger. The question is – what do they do with them?” he said.

Whereas previously, the economic climate warranted a more conservative budget, current conditions are set to prevail, says Boak.

Nevertheless, this shouldn’t materialise as a major shift in policy, he added, especially because things have improved ahead of expectations. Instead, the focus will be on cost of living, interest rates and wage growth.

“This time around I think it’s a little bit different…we’re expecting a hat tip to cost of living pressures, a slew of small policies [like] fuel and excise concessions,” he remarked.

“But ultimately we aren’t expecting any major new marco policies, and rather the windfall from that better than expected economic outcome to mostly be banked”.

It is the labour market in which Boak says the government is likely to be proactive. Bloomberg reports that wages growth has slowed to below 2.5% in 2022, whereas jobs advertisements have soared to around 4%.

What does this mean for ASX shares?

With that kind of activity in the job market, it’s no wonder to see stocks like Seek Limited (ASX: SEK) climb 8% in the past month of trading, after trading as high as $31 in that time. When quizzed on his take on the Aussie labour market, the economist agreed that numbers are running high.

Typically, that’s a key factor for inflation Boak notes, but there are key differences in Australia’s situation.

Whilst the labour market is running hot, “wages growth is still quite subdued” Boak says, adding that Australia is in a very different situation to other nations like the US.

“I Australia wages growth is a little over 2%, and we haven’t really had normal levels of wages growth in Australia for the best part of a decade,” he noted.

“But because it’s more of a gradual adjustment…there’s not that urgency for the RBA to get rates higher in the same way that were’ seeing in the US and other parts of the world”.

As a result, Boak says, the RBA is unlikely to rush into spiking rates. That’s a factor that is likely to impact ASX financials, like market leader National Australia Bank Ltd. (ASX: NAB).

Infrastructure is also set to get a mention in the budget tonight, with the unveiling of approximately $18 billion in funding for new and existing infrastructure projects.

Goldman is expecting infrastructure to be a key theme in tonight’s release. With that in mind, earlier analysis conducted by Bloomberg said that investors should pay close attention to materials shares such as Boral Limited (ASX: BLD) and others in the sector.

Net-net, we’ll have to wait and see what is revealed in the numbers later tonight to see who the main beneficiaries could be.

The post Worried about how the federal budget might impact your ASX shares? Here’s what Goldman says appeared first on The Motley Fool Australia.

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Motley Fool contributor Zach Bristow 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 recommended SEEK Limited. 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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The Beach Energy Ltd (ASX: BPT) share price is descending today amid a tough day for ASX energy shares.

The company’s shares are currently swapping hands at $1.61, a 1.83% fall. In comparison, the S&P/ASX 200 Index (ASX: XJO) is up 0.89% today.

Let’s take a look at what might be impacting Beach Energy shares.

Energy shares suffering

The Beach Energy share price may be down, but it is not the only ASX energy share to fall. The S&P/ASX 200 Energy Index (ASX: XEJ) is sliding 0.49%. Santos Ltd (ASX: STO) shares are down 0.57%, while the Woodside Petroleum Limited (ASX: WPL) share price is slipping 0.84%.

The Brent crude oil price has slipped 1.68% to US$110.59 a barrel, while the WTI crude oil price is down 1.39% to US$104.49 a barrel, according to Bloomberg.

In other news out of Beach Energy today, it was announced the Adelaide-based company will offload its 15% interest in the Cooper Basin petroleum retention licence (PRL) 211 to a joint venture.

Vintage Energy Ltd (ASX: VEN), Metgasco Limited (ASX: MEL), and Bridgeport (Cooper Basin) Pty Ltd will acquire this stake subject to ministerial approval. Vintage will acquire half of Beach’s interest, while Bridgeport and Metgasco will take a quarter each.

This petroleum licence includes the Odin gas field, which was discovered and flow tested in 2021.

Odin is a “promising discovery” with bright prospects for development to supply gas to the east coast domestic gas market, according to Vintage managing director Neil Gibbins.

The payment terms of the deal are linked to production at Odin.

Beach Energy share price snapshot

The Beach Energy share price has descended nearly 9% in the past 12 months but is exploding 27% year to date. For comparison, the  S&P/ASX 200 Index (ASX: XJO) has returned nearly 10% over the past year.

In the past month alone, Beach Energy shares have jumped 7%, while they have climbed 2% in a week.

Beach Energy has a market capitalisation of about $3.7 billion based on the current share price.

The post Why is the Beach Energy (ASX:BPT) share price all at sea today? appeared first on The Motley Fool Australia.

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• Why Beach, BHP, New Hope, and ResApp shares are charging higher

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 Bruce Jackson.

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In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a solid gain. At the time of writing, the benchmark index is up 0.7% to 7,467.2 points.

Four ASX shares that are climbing more than most today are listed below. Here’s why they are racing higher:

Block Inc (ASX: SQ2)

The Block share price is up almost 7% to $183.05. Investors have been buying this payments company’s shares following a strong night for its NYSE listed shares on Monday. This follows a positive night of trade in the tech sector, which has rubbed off on the local tech sector today. So much so, the S&P ASX All Technology index is up 2.4%.

Lake Resources N.L. (ASX: LKE)

The Lake Resources share price has jumped 17% to $1.97. This morning the lithium developer announced a non-binding offtake agreement with Japan’s Hanwa Co. According to the release, Hanwa has signed up for 15,000 to 25,000 tonnes per annum of lithium carbonate for 10 years from its Kachi Project in Argentina. The top end of the range represents half of its planned production.

Nearmap Ltd (ASX: NEA)

The Nearmap share price is up 13% to $1.47. Investors have been buying this aerial imagery and location data company’s shares after it provided an update on its annual contract value (ACV). According to the release, Nearmap has achieved $150 million in ACV following a major US government contract win. This means the company has already hit the low end of its FY 2022 guidance range.

Telix Pharmaceuticals Ltd (ASX: TLX)

The Telix share price is up 6% to $4.41. This follows the release of two positive announcements out of the radiopharmaceutical company this morning. The first announcement revealed that it has signed an exclusive distribution agreement with Xiel for its Illuccix product in the UK and Ireland. The second announcement advised that its bone marrow conditioning treatment, TLX66, has received Orphan Drug Designation status from the US FDA.

The post Why Block, Lake Resources, Nearmap, and Telix shares are racing higher appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro owns TELIXPHARM DEF SET. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Block, Inc. and Nearmap Ltd. The Motley Fool Australia owns and has recommended Block, Inc. and Nearmap Ltd. 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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The Polynovo Ltd (ASX: PNV) share price is racing higher despite no new announcements from the company today.

At the time of writing, the medical device company’s shares are exchanging hands for $1.14 apiece, up 7.55%. Earlier today, the company’s share price reached an intraday high of $1.165.

Polynovo shares stage a comeback

After hitting a multi-year low of 83.5 cents earlier this month, it appears the Polynovo share price has finally bottomed out. This is after a long and arduous 12-month journey in which its shares continually treaded downwards.

Nonetheless, a possible reason behind the recent uptick could be related to the S&P/ASX 200 Healthcare (ASX: XHJ) sector.

Currently, the index has risen 1.67% to 40,017.6 points during early afternoon trade, recording its best day in two weeks.

In addition, a couple of brokers have rated Polynovo shares with varying price points in late February.

The team at Macquarie cut its 12-month price target for Polynovo shares by 44% to $1.60 apiece. This implies a potential upside of 29% from where the company’s shares are trading today.

Furthermore, analysts at Wilsons dropped their outlook on Polynovo shares by 22% to $1.11 each. It appears the broker is on the mark as to where the medical company’s shares are valued.

Polynovo share price summary

When looking year to date, the Polynovo share price has lost almost 25% in value for shareholders.

However, over the past 12 months, its losses have magnified to around 60%.

Based on today’s price, Polynovo presides a market capitalisation of about $751 million.

The post What’s driving the Polynovo (ASX:PNV) share price higher today? appeared first on The Motley Fool Australia.

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Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended POLYNOVO FPO. The Motley Fool Australia has recommended Macquarie Group Limited. 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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The Appen Ltd (ASX: APX) share price is taking off on Tuesday.

Its movements come despite no word having been released by the company. In fact, the last time the market heard price-sensitive news from the provider of data for artificial intelligence was back in early March.

Still, the Appen share price is currently soaring 5.79% today at $7.12. For context, the S&P/ASX 200 Index (ASX: XJO) is currently up 0.7%.

So, what might be bolstering the ASX 200 tech company’s stock on Tuesday? Let’s take a look.

What’s driving the Appen share price higher today?

Appen’s stock is climbing on Tuesday as the tech sector enjoys a needed day in the sun.

After slipping 3.8% between Wednesday’s close and Monday’s close, the S&P/ASX 200 Information Technology Index (ASX: XIJ) is back in the green.

It’s currently up 3% on Tuesday. Its gains could be buoying the Appen share price to be one of its biggest movers.

The company’s Tuesday performance is being bested only by the share price of Block Inc (ASX: SQ2). It has gained 6.6% at the time of writing.

Meanwhile, Tyro Payments Ltd (ASX: TYR) is the third best performing ASX 200 tech share, gaining 5.23%.

The broader tech market is also doing well on Tuesday, with the S&P/ASX All Technology Index (ASX: XTX) roaring 2.35% higher.

Today’s gains see the Appen share price back in the green over the past month, sporting a 2.4% gain for the period.  

However, the company’s stock is still 35% lower than it was at the start of 2022. It has also fallen 57% since this time last year.

The post Why is the Appen (ASX:APX) share price surging 6% higher today? appeared first on The Motley Fool Australia.

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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. owns and has recommended Appen Ltd, Block, Inc., and Tyro Payments. The Motley Fool Australia owns and has recommended Block, Inc. The Motley Fool Australia has recommended Tyro Payments. 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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For simultaneous enthusiasts of politics and finance, tonight marks the biggest and most exciting night of the year – the Federal Budget. Every year, the government gives us a look at its books, projections for the year ahead, and of course, outlines new spending and savings programs. Since this year is also an election year, we’re also bound to see some measures designed to make a splash in the minds of voters.

Given the normal machinations of the political world, we already have a fair idea of what some of these measures are likely to include. So let’s look at one in particular that has been bandied about, and what it could mean for ASX shares.

According to reporting in the Australian Financial Review (AFR) this week, tonight’s budget is likely to include a “reduction in the fuel excise for at least six months”. Reportedly, Treasurer Josh Frydenberg has “confirmed” that the Morrison government will be the first government to cut fuel excise since the Howard government froze it back in 2001. 

Fuel excise?

This is a move that is likely to have an impact on most Australians, given how many of us still have to fill up at least one car. But what would this mean for ASX shares? Well, let’s start by examining what fuel excise actually is. 

So an excise is a specific kind of tax levied on a particular good. The government places excise on a number of products in the economy, including alcohol, tobacco and fuel. These excise duties are increased every six months in line with inflation. 

In the case of fuel, all petroleum-based fuels face excise duty. Although there are different rates for aviation fuel, gas and kerosene, the rate that most of us pay today is at 44.2 cents per litre. This is the rate that applies to both petrol and diesel. 

So whenever you fill up your car, you are paying 44.2 cents per litre to the government in excise tax. 

Given the recent surge in oil prices, fuel has become an area of concern to many Australians. Previously unthinkable fuel prices over $2 per litre are now common across the country. This is probably why the government is reportedly considering a temporary cut to fuel excise in tonight’s budget. 

Which ASX shares would benefit from lower petrol prices?

So if the government gives motorists a cut to fuel excise, it theoretically should lower the cost of fuel at the bowser. This will obviously benefit anyone who drives a car or truck. But which ASX shares would it be good for? 

Well, one obvious ASX share beneficiary would be Ampol Ltd (ASX: ALD). Ampol runs the self-branded network of service stations around the country. It also owns one of the country’s last remaining oil refineries. Since Ampol makes most of its money on the margins of fuel, it would arguably stand to benefit from a cut in excise, since it would be able to lower fuel prices without taking a hit to its bottom line. That could explain why the Ampol share price is up more than 4% over the past five trading days. 

But any other company that runs extensive road transport logistics would also likely benefit from any cut to fuel excise. Businesses like Woolworths Group Ltd (ASX: WOW), Coles Group Ltd (ASX: COL) and Wesfarmers Ltd (ASX: WES) all have extensive logistics, supply and delivery networks that run on road transport. Thus, any reduction in fuel prices would also give these companies a boost. You could say the same for other physical retailers, such as JB Hi-Fi Limited (ASX: JBH) and Harvey Norman Holdings Limited (ASX: HVN). 

So if the government does indeed deliver a reduction in fuel excise, there are more than a few ASX shares that would stand to benefit. But we shall have to wait and see what Mr Frydenberg does pull out of the hat tonight to be sure. 

The post Could these ASX shares get a boost from tonight’s federal budget? appeared first on The Motley Fool Australia.

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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. owns and has recommended Harvey Norman Holdings Ltd. The Motley Fool Australia owns and has recommended COLESGROUP DEF SET, Harvey Norman Holdings Ltd., and Wesfarmers Limited. 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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The Core Lithium Ltd (ASX: CXO) share price has hit its all-time high in Tuesday morning trading, touching $1.30.

It’s since settled at $1.267, up 4.28% at the time of writing.

Core Lithium shares are rebounding from a levelling-off period that’s weighed on the company’s share price since late February.

But whilst it may have been compressed lately, zooming out, Core Lithium shares have gained more than 135% over the past three months.

What’s up with the Core Lithium share price lately?

The company’s shares were rocked last week amid the shock resignation of managing director and CEO Stephen Biggins.

Biggins announced he will step down from the role by the end of the year after a tenure of nearly 12 years. 

He advised he was proud of his achievements with the company’s Finniss Lithium Project. He said: “Core is in perfect position to reach its next stage of growth as a lithium producer.”

Despite some initial turbulence, investors have obviously taken the news in their stride. They’re buying in droves today at a huge volume of 21.88 million shares so far.

The Core Lithium share price has since staged a comeback rally and is up 4% since the news was announced, boosted by its gains today.

Aside from that, lithium carbonate continues to soar to new heights on global commodity markets, currently trading at an all-time high of around $104,000 per tonne.

As can be seen on the chart below, what the market is willing to pay for lithium and for Core Lithium’s stock have travelled very closely over the past year.

Core Lithium share price snapshot

In the past 12 months, the Core Lithium share price has climbed 507% and is up 116% this year to date.

During the previous month, the company’s shares have spiked another 69% and are now up 3% in the last week of trading.

At its current share price, the company has a market capitalisation of around $2.2 billion.

The post Core Lithium (ASX:CXO) shrugs off sector falls to notch up all-time high appeared first on The Motley Fool Australia.

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Motley Fool contributor Zach Bristow 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 Bruce Jackson.

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The Block Inc (ASX: SQ2) share price is flying higher in afternoon trade, up 6.98%. Block shares closed yesterday at $171.45 and are currently trading for $183.42.

So, what’s driving ASX investor interest in the fintech company today?

What’s piquing ASX investor interest today?

There’s no new price-sensitive news out from Block today.

However, the Block share price gains on the ASX come after its New York Stock Exchange-listed shares gained 6% yesterday (overnight Aussie time) in US trading.

While Block’s ASX shares don’t move in lockstep with the gains or losses on the NYSE, they tend to follow a similar trend.

But it’s not just the Block share price rocketing higher.

A ‘risk on’ mood looks to be taking hold of share investors, with growth stock back in favour. And this is seeing tech shares lead the broader index higher today.

The Appen Ltd (ASX: APX) share price, for example, is up 6.54% at the time of writing while Zip Co Ltd (ASX: Z1P) shares have gained 4.42% today.

The S&P/ASX All Technology Index (ASX: XTX) is up 2.5% today, compared to a gain of 0.8% posted by the S&P/ASX 200 Index (ASX: XJO) so far.

Block share price snapshot

It’s been a volatile ride for Block shareholders since the company listed on the ASX on 20 January.

With more big moves up than down, the Block share price is up more than 4% since the closing bell on 20 January.

By comparison, the ASX 200 has gained 1.7% in that same period.

The post Why is the Block (ASX:SQ2) share price leaping 7% higher today? appeared first on The Motley Fool Australia.

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The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Block, Inc. The Motley Fool Australia owns and has recommended Block, Inc. 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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The Nitro Software Ltd (ASX: NTO) share price is among the best performers on the All Ordinaries index on Tuesday.

In afternoon trade, the document productivity software company’s shares are up 9% to $1.44.

Why is the Nitro share price surging higher?

Investors have been bidding the Nitro share price higher today amid a rally in the tech sector. This follows a strong night on the tech-focus Nasdaq index on Wall Street.

It isn’t just Nitro that is recording a strong gain. The Block Inc (ASX: SQ2) share price is playing a key role in driving the S&P ASX All Technology index 2.5% higher today with a gain of 7% this afternoon.

This mirrors an equally strong gain by the payments giant’s NYSE listed shares during overnight trade.

Is Nitro good value?

As I mentioned here yesterday, Goldman Sachs sees a lot of value in the Nitro share price at the current level. It recently put a buy rating and $2.60 price target on the company’s shares.

Goldman believes the market is underestimating Nitro’s growth potential as a challenger in a US$34 billion total addressable market across PDF, e-signing, and workflows.

It commented: “Nitro is down ~50% since November with the market currently pricing in long-term growth and margin assumptions that understate Nitro’s potential, in our view. We are positive on Nitro’s structural growth opportunity, reflected in our DCF scenario analysis implying an attractive asymmetric risk/reward skew.”

The post Why is the Nitro Software (ASX:NTO) share price rocketing 9% higher? appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Block, Inc. The Motley Fool Australia owns and has recommended Block, Inc. The Motley Fool Australia has recommended Nitro Software Limited. 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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