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Highlights
- ASX 200 steadies after early-week volatility
- Tech, consumer sectors and gold stocks lead local gains
- US and global markets buoyed by trade optimism and Fed support
The Australian share market looks poised for a stronger open today, following a positive finish on Wall Street and signs of easing global trade tensions. Futures for the S&P/ASX 200 index are up 18 points (+0.23%) as of early Monday, setting the stage for a potential rebound.
Last week, the ASX 200 ended marginally lower by 0.28%, or 21 points, at 7,646. This came after a volatile week that saw a steep drop of 6.5% on Monday. However, the market managed to recover most of those losses after US President Donald Trump announced a 90-day pause on new tariffs, helping to calm investor nerves.
On the sector front, performance was mixed. Information Technology was the standout, rallying 5.99%, supported by strong global tech sentiment. Telecommunications Services rose 3.09%, while Consumer Discretionary and Consumer Staples gained 1.25% and 1.20%, respectively. Meanwhile, Energy dragged the most, down 5.29%, followed by Health Care (-4.43%), Financials (-1.58%), and Materials (-1.11%).
Among individual names, standout performers included Zip Co (ASX:ZIP), which jumped 15.95%, and Northern Star Resources (ASX:NST), up 13.53%, likely benefiting from surging gold prices. Regis Resources (ASX:RRL) and WiseTech Global (ASX:WTC) also gained 12.56% each. On the downside, Silex Systems (ASX:SLX) slid 16.17%, Articore (ASX:ATG) fell 15.79%, Coronado Global Resources (ASX:CRN) dropped 14.81%, and Mineral Resources (ASX:MIN) declined 12.03%.
This week, key local data includes the Reserve Bank of Australia’s meeting minutes on Tuesday and the March Labour Force report on Thursday. Market participants are closely watching for signals around interest rate direction. A softer jobs report could reinforce expectations for potential rate adjustments in May.
Globally, US equity markets posted robust gains last week amid optimism around trade negotiations and dovish commentary from the Federal Reserve. The Nasdaq surged 7.4%, the S&P 500 added 5.7%, and the Dow Jones climbed 1,897 points.
Gold prices soared to record highs, with spot gold trading near US$3,236, driven by a weaker US dollar and safe-haven demand. Northern Star Resources (NST) and Regis Resources (RRL) were among the beneficiaries.
Elsewhere, Brent crude settled at US$64.76 a barrel after a volatile week, while base metals like copper and aluminium also advanced. The Australian dollar firmed to US62.88 cents, reflecting broader currency market trends against a weakening greenback.
