AU Morning Wrap | ASX 200 rises for second straight day; Westpac appoints new chief people officer
G'day, mooers! Check out the latest news on today's stock market!
• U.S. stocks end mostly higher as tariffs hamper economic growth traders expect Fed to cut rates
• Australian stocks rise for second straight day
• Stocks to watch: KLS, MIN and etc.
Wall Street Summary
The S&P 500 closed higher following a late rally, though it initially opened lower due to poor manufacturing data. Treasury yields declined as traders expected the Federal Reserve to ease monetary policy further, amid fears that tariffs could hinder economic growth.
The $Nasdaq Composite Index (.IXIC.US)$ rallied 0.9% to 17,449.89, the $S&P 500 Index (.SPX.US)$ added 0.4% to 5,633.07, and the $Dow Jones Industrial Average (.DJI.US)$ eased 0.03% to 41,989.96.
AU Market Watch
The $S&P/ASX 200 (.XJO.AU)$ added 0.5% to 7,963.8 at the open. Australian shares rose with Wall Street due to mixed market reactions caused by new details on US reciprocal tariffs and possible trade partner responses.
President Donald Trump's reciprocal tariffs will take effect immediately on April 2 and details of the next round of tariffs will be announced on Thursday at 7 a.m. Australian Eastern Daylight Time.
Commodities
As of the latest data, gold prices down 0.25% to $3,112.63 per ounce, Brent oil prices gained 0.03% to $74.512 per barrel, and iron ore prices up 0.08% to $102.51 per tonne.
Crypto
As of the latest data, $Bitcoin (BTC.CC)$ is priced at $85,037.65, rose 3% in the past 24 hours, while $Ethereum (ETH.CC)$ is priced at $1,908.54, gained 4.4% over the previous 24 hours.
Stocks to Watch
$Kelsian Group Ltd (KLS.AU)$ rose 3.5% after it plans to sell its tourism business to streamline operations and reduce debt. This business generated revenues of over A$160m in FY24.
$Mineral Resources Ltd (MIN.AU)$' founder Chris Ellison is facing a class action lawsuit in the Supreme Court of Victoria. The company plans to strongly defend itself. Meanwhile, its shares have risen by 1.8%.
$Westpac Banking Corp (WBC.AU)$ shares were up 1.6%. The appointment of Kate Dee as chief people officer is the latest in a long line of senior appointments at one of Australia's largest banks.
$Amcor PLC (AMC.AU)$ rose 0.3% after the company promoted Michael Casamento, vice president of corporate finance, to chief financial officer.
$Treasury Wine Estates Ltd (TWE.AU)$ fell 1.7% after the company appointed former Orora CEO Nigel Garrad to its board.
$Telix Pharmaceuticals Ltd (TLX.AU)$ fell 7% after giving the first dose of TLX300-CDx (olaratumab) in an early trial for treating advanced metastatic soft tissue sarcoma.
$The Star Entertainment Group Ltd (SGR.AU)$ failed to get a $750 million lifeline from Salter Brothers and is now at risk of administration for the third time this year. The casino group and its bankers have now shifted their focus to US casino giant Bally's Corporation in a final attempt to raise money.
Economic calendar (AEDT):
No major economic news.
Source: Dow Jones Newswires, AFR, Market Index
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
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