AUS
NZ
UK
CA
USA
IND
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Highlights
- Morning Market Pulse: ASX Poised to Rise
- Tech and Resource Stocks Lead Charge
- US Tariff Easing Lifts Global Sentiment
The Australian share market looks set for a modestly positive start today, buoyed by encouraging signals from global markets—particularly Wall Street—following selective tariff exemptions on US technology products and signs of a more measured stance on auto duties. Futures for the S&P/ASX 200 Index rose 0.2% to 7792 points after the US market closed higher overnight.
The local market had already begun the week on a strong footing, with the benchmark S&P/ASX 200 Index climbing 1.34% or 102.1 points on Monday. Optimism was largely driven by reduced US trade tensions, especially for the tech sector, providing a notable uplift to Australian tech and resource-heavy indices.
Leading the local advance were Information Technology stocks. (ASX:WTC) rose 3.1%, while (ASX:XRO) gained 2.3%. These movements followed improved investor sentiment in the tech sector, both domestically and abroad, as tariff concerns eased.
Resources also played a major role in Monday’s gains. (ASX:BHP) advanced 2.7%, (ASX:RIO) added 1.2%, and (ASX:S32) climbed 2.2%, reflecting continued strength in commodity markets. Gold producers remained in focus amid elevated gold prices, with (ASX:NST) up 1.5% and (ASX:EVN) rising 2.6%.
The big banks supported the broader rally, with (ASX:CBA) and (ASX:ANZ) each advancing 1.7%, helping to boost the index further. In contrast, defensive sectors like Consumer Staples underperformed, with (ASX:WOW) and (ASX:COL) dipping 0.5% and 0.24% respectively.
Overseas, US sharemarkets closed higher. Early momentum was sparked by news of exclusions on tariffs for certain electronics and computer parts, aiding a rebound in tech and auto stocks. (NASDAQ:AAPL) surged early, finishing up 2%. Financials also gained ground, led by (NYSE:GS) which rose 4% on strong quarterly results and a US$4 billion share buyback plan. The KBW Bank Index rose 1.4%.
Automakers rallied amid optimism around potential car parts tariff exemptions, with (NYSE:F) and (NYSE:GM) climbing as much as 4.6% and 5% respectively. The Dow Jones gained 312 points, while the S&P 500 and Nasdaq rose 0.8% and 0.6%.
Meanwhile, the S&P/ASX Small Ordinaries Index added 1.41%, continuing a strong short-term run, supported by encouraging updates from junior explorers such as (ASX:SGQ), (ASX:CR1), and (ASX:YRL), all reporting progress across strategic rare earth, copper-gold, and hydrogen projects.
All eyes now turn to the Reserve Bank of Australia’s April meeting minutes at 11.30am AEST, as investors look for signals on future interest rate direction.
