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Highlights
- ASX 200 set for a flat start despite US rally
- US markets supported by trade talks and Fed signals
- European shares rise to three-week highs on optimism
Australian shares are set to open flat today, despite positive momentum flowing from Wall Street. Overnight, United States markets extended gains, driven by encouraging trade discussions, solid corporate earnings, lower bond yields, and easing market volatility.
At 8:30 am AEST, ASX 200 futures rose slightly by 2 points (+0.02%), signaling a muted start. The broader ASX 200 Index climbed 149 points last week, ending at 7,968 points, achieving a 1.59% rise for April so far. This performance puts the index on track to snap a two-month losing streak, reversing much of the earlier 8.5% decline seen earlier in the month.
Investor confidence was boosted by signs of easing United States–China trade tensions and reassurances from President Donald Trump regarding the leadership at the Federal Reserve. A notable rotation from high-risk stocks into more stable indices like the ASX 200 further strengthened the market.
Financial stocks led sector gains, jumping 2.77%, while Information Technology rose 2.09%, Health Care advanced 2.07%, and Real Estate increased 1.91%. Other sectors like Consumer Staples and Telecommunications saw smaller movements.
Among standout performers, Paladin Energy (ASX:PDN) surged 22.20%, Clarity Pharmaceuticals (ASX:CU6) rallied 20.53%, Deep Yellow (ASX:DYL) gained 12.64%, and Appen (ASX:APX) rose 11.25%. On the other hand, Cettire (ASX:CTT) tumbled 31.43%, Generation Development Group (ASX:GDG) dropped 16.40%, and Helios Energy (ASX:HE8) slipped 12.50%.
Locally, attention will center on the March quarter Consumer Price Index (CPI) report, scheduled for Wednesday. Market forecasts suggest a 0.7% quarterly rise, easing annual inflation to 2.3%. The Reserve Bank of Australia's trimmed mean measure is expected to post a 0.6% quarterly gain, bringing annual underlying inflation to 2.8%.
In the United States, optimism over tariff reductions and supportive commentary from the Federal Reserve fueled a fourth consecutive day of market gains. The Nasdaq added 6.43%, the Dow Jones Industrial Average rose 2.5%, and the S&P 500 climbed 4.59% for the week, although the S&P 500 remains around 10% below February peaks.
President Trump's remarks on potentially reducing tariffs on Chinese goods were welcomed, as China responded by trimming levies on sectors such as semiconductors. Progress was also reported in trade talks with Japan, Korea, and India.
Investors now turn their focus to upcoming earnings results from technology heavyweights like Amazon (NASDAQ:AMZN), Apple (NASDAQ:AAPL), Microsoft (NASDAQ:MSFT), and Meta Platforms (NASDAQ:META), along with key economic data releases including the Core PCE Price Index and Non-Farm Payrolls report.
Meanwhile, European sharemarkets climbed to a three-week high, led by strength in defense and materials stocks. The FTSEurofirst 300 index rose 0.4% on Friday and gained 2.8% for the week, with the FTSE 100 index in London extending its winning streak to ten sessions—the longest since 2019.
