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Morning Bell 2 April
Between the Bells
English - April 01, 2024 22:00 - 1 minute - 1.43 MBInvesting Business online share trading trading ausbiz asx200 investing economics Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
Previous Episode: Morning Bell 28 March
Next Episode: Morning Bell 3 April
Wall St closed lower to start the trading week as investors digest the latest US inflation data. The Dow Jones closed 0.6% lower, the S&P 500 fell 0.2% whilst the tech-heavy Nasdaq gained 0.11% by the closing bell. US core PCE data was released on Friday, showing inflation rose 2.8% on a 12-month basis in February, which was in line with expectations.
Europe and local markets were closed yesterday for Easter Monday celebrations.
What to watch today:
The ASX200 is set to open higher this morning, with the SPI futures suggesting a rise of 1.03% at market open this morning.On the commodities front this morning,Oil is trading 0.92% higher at 83 US dollars and 89 cents a barrel as investors await the OPEC+’s meeting later this week. Gold is trading 0.81% higher at 2250 US dollars an ounce and iron ore is trading 1.45% lower at 102 US dollars a tonne.
Trading Ideas:
Bell Potter has maintained a buy rating on Coronado Global Resources (ASX:CRN), despite decreasing its 12-month price target to $1.65. The buy rating is maintained by Bell Potter as CRN should realise improved production volumes and subsequent cost benefits following the self-funded investment across its Australian and US operations. It is expected that this will generate more consistent free cash flow and shareholders returns going forward.And Trading Central has identified a bullish signal on Pilbara Minerals (ASX:PLS), indicating the stock may rise form the close of $3.83 to the range of $4.55-$4.75 on a pattern formed over 18 days according to the standard principles of technical analysis.