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Are you looking for dividends to boost your income? If you are, then you may want to check out the two ASX 200 dividend shares listed below that brokers have named as buys.

Here’s why analysts rate them highly right now:

Suncorp Group Ltd (ASX: SUN)

The first ASX 200 dividend share that has been named as a buy is Suncorp. It is one of Australia’s leading insurance and banking companies and name behind a range of brands including AAMI, Apia, Bingle, GIO, Shannons, Suncorp, and Vero.

The team at Morgans is positive on the company due to its efficiency program and strong underlying business trends. In respect to the former, the broker expects Suncorp to “reap the full benefits of its efficiency program in FY23.”

At present, the broker is expecting this to lead to fully franked dividends per share of 77.5 cents in FY 2023 and 80 cents in FY 2024. Based on the current Suncorp share price of $11.89, this will mean yields of 6.5% and 6.7%, respectively.

Morgans currently has an add rating and $13.98 price target on its shares.

Woolworths Limited (ASX: WOW)

Another ASX 200 dividend share that has been named as a buy is Woolworths.

Goldman Sachs is a fan of the retail giant due to its strong market position and digital leadership. The broker expects this to support further market share and margin gains.

In addition, its analysts were supportive of Woolworths’ decision to partially sell down its Endeavour Group Ltd (ASX: EDV) stake this week to raise investment funds. Particularly given speculation that it will use the funds to increase its exposure to the growing pet care market.

For now, Goldman is forecasting fully franked dividends of $1.02 per share in FY 2023 and $1.13 per share in FY 2024. Based on the current Woolworths share price of $34.29, this will mean yields of 3% and 3.3%, respectively.

Goldman has a conviction buy rating and $41.70 price target on the company’s shares.

The post Brokers say these ASX 200 shares are buys for income investors appeared first on The Motley Fool Australia.

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More reading

• Bell Potter says these are some of the best ASX shares to buy for 2023
• Why is the Endeavour share price sinking today?
• Woolworths share price higher on Endeavour selldown: What’s going on?
• 5 things to watch on the ASX 200 on Wednesday
• Why is the ANZ share price marching higher on Tuesday?

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. 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 team at Bell Potter has been busy picking out its favoured ASX share picks for 2023.

I covered the first three here earlier this week. Now let’s look what else the broker rates highly for the year ahead:

CSL Limited (ASX: CSL)

Bell Potter is feeling positive about this biotherapeutics company thanks to growing plasma volumes. In addition, it notes that its Vifor Pharma acquisition has added global leadership in renal disease and iron deficiency. The broker commented:

The recently completed acquisition of Vifor Pharma will add global leadership in pharmaceutical products for renal disease and iron deficiency. The global growth in plasma volumes is expected to be around a solid 8% per annum for the foreseeable future and, in addition, the group is planning to launch new products from its very extensive Research and Development portfolio.

South32 Ltd (ASX: S32)

In the resources sector, Bell Potter has picked out this mining giant as a favoured stock for 2023. Its analysts like the diversified miner due to its increasing exposure to the decarbonisation megatrend and its base metal operations in North America. It said:

The next phase of growth is expected to come from the world class base metal development options in North America. In addition, the management team has plans to markedly increase the group’s involvement in minerals, which are critical to a low carbon future, such as copper, nickel, zinc, aluminium, and manganese.

Woolworths Group Ltd (ASX: WOW)

Finally, the broker has named this retail giant as a top pick for 2023. This is due to its belief that Woolworths is better positioned than many other retailers in the current economic environment. It explained:

In the current environment of rising cost of living pressures, supermarkets are much better placed than discretionary retailers and, in the longer term, the group should benefit from a persistence in working from home habits and the accompanying elevated at home food consumption.

The post Bell Potter says these are some of the best ASX shares to buy for 2023 appeared first on The Motley Fool Australia.

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More reading

• Here’s why the South32 share price is shooting north today
• Stock market millionaire: I’d put $500 a month into the ASX 200 to aim for 7 figures
• Why is the Endeavour share price sinking today?
• Woolworths share price higher on Endeavour selldown: What’s going on?
• 5 things to watch on the ASX 200 on Wednesday

Motley Fool contributor James Mickleboro has positions in CSL. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended CSL. 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 Pilbara Minerals Ltd (ASX: PLS) share price has been a very strong performer over the last 12 months.

As you can see below, since this time last year, the lithium miner’s shares have risen almost 70%.

This compares very favourably to the performance of ASX 200 index, which is down 1% over the same period.

Where next for the Pilbara Minerals share price?

Unfortunately, the team at Morgans appears to believe that the Pilbara Minerals share price is close to peaking.

According to a note, the broker has initiated coverage on the company with a hold rating and $4.70 price target.

Based on the current Pilbara Minerals share price of $4.55, this implies modest upside of 3.2% for investors.

What did the broker say?

Morgans believes that the aforementioned strong gains that have been recorded over the last 12 months has left the company’s shares trading at a level that doesn’t provide a sufficient risk/reward. Particularly given the volatility of the sector. The broker said:

We initiate coverage with a HOLD rating. We see some upside but not enough to outweigh the volatility of the sector.

In addition, its analysts appear to agree with Goldman Sachs’ view that lithium prices could pullback in FY 2024. This is due to increasing production and a number of macroeconomic risks. The broker explained:

Our view is that lithium prices can remain strong into CY23 as the company pursues volume growth but the risk of a commodity pullback will grow in FY24.

We note there are short and medium term issues that could interrupt the incredibly strong growth period the sector has seen, particularly in the last 12 months. Chinese EV sales typically have a seasonal low between December and February reducing lithium demand. A significant volume of committed supply growth is coming in CY23 while macroeconomic risks are growing.

The post ‘Not enough upside’ for Pilbara Minerals share price: Morgans appeared first on The Motley Fool Australia.

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More reading

• 5 things to watch on the ASX 200 on Thursday
• Lithium, miners, and tech shares, oh my! Here’s where Aussies put their ASX money in 2022
• Here are the 3 most heavily traded ASX 200 shares on Tuesday
• How big will the Pilbara Minerals dividend be in 2023?
• Here are the 3 most heavily traded ASX 200 shares on Monday

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. 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) is full of interesting ASX shares. Indeed, there are a few that look particularly good value after seeing some volatility this year. I don’t think they’re value traps either; instead, they could be great value ASX 200 shares.

Businesses that are among the best at what they do have a compelling opportunity to improve their market positions during this period of rising interest rates and high inflation.

No one can truly know what’s going to happen next, but I think businesses with low price/earnings (P/E) ratios and promising long-term outlooks could do well. So, here are three of my ideas for ones that have low valuations.

Bank of Queensland Limited (ASX: BOQ)

BOQ is one of the largest challenger banks in Australia. But, the BOQ share price is down 7% since the surprise announcement the regional bank’s CEO was leaving. BOQ is also focused on strengthening the bank heading into a more challenging economic cycle, which could be prudent.

The bank is working on improving its operations and undertaking a technology transformation.

Using the estimates from the broker Ord Minnett, the regional bank is priced at under 10 times FY23’s estimated earnings and it could pay a grossed-up dividend yield of 10.3%.

I think the dividend income alone could provide a market-beating return in 2023. Higher interest rates could also be a boost for earnings.

Corporate Travel Management Ltd (ASX: CTD)

Corporate Travel Management is one of the largest operators in its sector, particularly after its acquisition activity during COVID-19. When travel activity gets back to full volume, it’s expecting to be much bigger – around 75% — than it was pre-COVID.

The business is winning more clients, which is boosting its market share, while having a customer retention rate of more than 97%.

According to the company, the industry is seeing issues being resolved week by week as the global network of travel rebuilds after the pandemic.

As airlines like Qantas Airways Limited (ASX: QAN) bring more capacity, this should also help the corporate travel space recover.

According to the broker Macquarie, the Corporate Travel Management share price is valued at 15 times FY24’s estimated earnings, with a potential FY24 grossed-up dividend yield of 2.8%. This valuation comes after a 15% drop in the Corporate Travel Management share price over the last month.

JB Hi-Fi Limited (ASX: JBH)

JB Hi-Fi is one of the best retailers in Australia and New Zealand in my opinion. Despite large amounts of physical store and online competition, the ASX 200 value share has managed to perform very well over the last five years, even with players like Amazon trying to muscle in.

The business points to four competitive advantages that are helping it succeed: scale, a low-cost operating model, its multichannel capability, and its people and culture.

For customers, it offers the “best brands, [a] big range, low prices”.

Its JB Hi-Fi stores are aimed at a young, tech-savvy demographic while The Good Guys stores are focused on home-making families.

FY23 has started strongly, with JB Hi-Fi Australia sales in the first quarter up 14.6% year over year and The Good Guys sales up 12.3%.

According to the broker Credit Suisse, the JB Hi-Fi share price is priced at 11 times FY23’s estimated earnings with a potential grossed-up dividend yield of 8.6%. The JB Hi-Fi share price is down 20% since 30 March 2022.

The post 3 ASX 200 value shares I think could soar in 2023 appeared first on The Motley Fool Australia.

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More reading

• Here are the top 10 ASX 200 shares today
• Why this one top fund manager is optimistic about 2023, and one little-known IPO that has hit it out of the park
• Top brokers name 3 ASX shares to buy next week
• Could the VAS ETF outperform the BHP share price in 2023?
• 3 top ASX 200 dividend shares I think are bargain buys right now

John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. 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 positions in and has recommended Amazon.com. The Motley Fool Australia has recommended Amazon.com, Corporate Travel Management, Jb Hi-Fi, and Macquarie Group. 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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As well as providing investors with access to different sectors, indices, and regions, you can use exchange traded funds (ETFs) to achieve different investment goals.

For example, if you want to build a passive income, you could buy the ASX-listed ETFs named below that have been designed to provide investors with generous dividend yields. Here’s what you need to know about them:

BetaShares S&P 500 Yield Maximiser (ASX: UMAX)

The first ETF for investors to look at for a passive income is the BetaShares S&P 500 Yield Maximiser.

This ETF has been designed to provide income investors with attractive quarterly income with low volatility.

BetaShares aims to achieve this by implementing an equity income investment strategy over a portfolio of shares comprising the famous S&P 500 Index on Wall Street.

This index is home to 500 of the largest companies listed on Wall Street and includes dividend-paying giants such as Apple, Bank of America, Exxon Mobil, Home Depot, and Walmart.

At the last count, the BetaShares S&P 500 Yield Maximiser’s units were offering investors an 8.7% distribution yield.

Vanguard Australian Shares High Yield ETF (ASX: VHY)

Another ETF for investors to look at is the Vanguard Australian Shares High Yield ETF.

As its name implies, this ETF provides investors with exposure to a group of ASX shares that have higher forecast dividends relative to the rest of the market.

The good news is that this is done with diversification in mind. The Vanguard Australian Shares High Yield ETF restricts the proportion invested in any one industry to 40% and 10% for any one company.

At present there are 70 ASX shares included in the portfolio. These include giants such as BHP Group Ltd (ASX: BHP), Commonwealth Bank of Australia (ASX: CBA), Telstra Corporation Ltd (ASX: TLS), and Wesfarmers Ltd (ASX: WES).

The Vanguard Australian Shares High Yield ETF currently trades with an estimated forward dividend yield of 6%.

The post The ASX-listed ETFs to buy for a passive income in 2023 appeared first on The Motley Fool Australia.

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More reading

• How I’d build passive income with just $20 a week
• Buy these ETFs for an income in retirement
• 2 popular ETFs for ASX investors to buy next week

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. has no position in any of the stocks mentioned. The Motley Fool Australia has positions in and has recommended BetaShares S&P500 Yield Maximiser, Telstra Corporation Limited, and Wesfarmers Limited. The Motley Fool Australia has recommended Vanguard Australian Shares High Yield Etf. 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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On Wednesday, the S&P/ASX 200 Index (ASX: XJO) was on form again and charged higher. The benchmark index rose 0.7% to 7,251.3 points.

Will the market be able to build on this on Thursday? Here are five things to watch:

ASX 200 expected to fall

The Australian share market looks set to fall on Thursday following a poor night of trade on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 44 points or 0.6% lower this morning. In late trade in the United States, the Dow Jones is down 1%, the S&P 500 has fallen 1.15% and the NASDAQ has tumbled 1.45%. This follows the US Federal Reserve’s decision to raise interest rates by 0.5% overnight. The central bank sees rates peaking at 5.1%.

Oil prices rise again

Energy shares Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) could have another positive day after oil prices rose again on Wednesday night. According to Bloomberg, the WTI crude oil price is up 2.5% to US$77.24 a barrel and the Brent crude oil price is up 2.4% to US$82.64 a barrel. Oil prices climbed following forecasts for a lift in demand in 2023.

Pilbara Minerals rated as a hold

The Pilbara Minerals Ltd (ASX: PLS) share price may have peaked for the time being according to analysts at Morgans. This morning, the broker has initiated coverage on the lithium miner’s shares with a hold rating and $4.70 price target. Morgans commented: “Our view is that lithium prices can remain strong into CY23 as the company pursues volume growth but the risk of a commodity pullback will grow in FY24.”

MinRes appoints former cricketer

The Mineral Resources Ltd (ASX: MIN) share price will be one to watch on Wednesday. This follows the bizarre appointment of former Australian cricketer and coach Justin Langer as a non-executive director. MinRes’ Chairman, James McClements, said: “Our Board places a high premium on diversity of experience. As MinRes expands and develops, we believe that bringing in a breadth of expertise and knowledge is key to our success.”

Gold price falls

Gold miners Evolution Mining Ltd (ASX: EVN) and Regis Resources Limited (ASX: RRL) could have a difficult day after the gold price fell overnight. According to CNBC, the spot gold price is down 0.7% to US$1,812.4 an ounce. Gold fell after the US Federal Reserve lifted rates.

The post 5 things to watch on the ASX 200 on Thursday appeared first on The Motley Fool Australia.

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More reading

• Here are the top 10 ASX 200 shares today
• Why Thursday could be huge for ASX 200 shares
• 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?

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. 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) 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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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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