Good morning traders, the year is 2477, the trade negations between the US and China are progressing well, and the British parliament will vote to extend the Brexit by another 5 years. . Thanks @ttward, @Ravgnome & the aftermarket loungers.

US markets closing flat after a bit of a late selldown after a Bloomberg report claiming that China is pushing back against the US demands. And so continues the forever yo-yo that is the trade negotiations effect on the market sentiment.

ASX Market Report

Australian shares have closed marginally down after a spike in the price of iron ore that boosted mining companies couldn't make up for losses elsewhere.

The benchmark S&P/ASX200 index closed down 5.7 points, or 0.09 per cent, to 6184.8 points at 1615 AEDT on Tuesday, while the broader All Ordinaries was down 7 points, or 0.11 per cent, at 6276.6.

"It's one of these days, the market seems pretty much directionless, swinging between gains and losses," said CommSec market analyst James Tao.

Investors are waiting the US Federal Reserve to update its "dot plot" projections on interest rates, which will be released early on Thursday Australia time, as well as Australian jobs figures, which will be released later on Thursday. "If we get good job data there might be less and less noise for a rate cut," Mr Tao said.

The mining sector - up 0.91 per cent as a whole - led gains after Chinese iron ore futures increased and a Brazilian court ordered Vale SA to suspend two more dam operations. BHP was up 1.65 per cent to $37.59 and Rio Tinto was up 1.7 per cent to $94.75.

The steepest falls were in health care, where shares were collectively down 1.43 per cent, mostly dragged down by CSL. The pharma giant dipped 1.64 per cent to $193.58.

Tech shares were collectively down 0.55 per cent, with Xero, Altium Limited and Appen all down between 1.18 and 1.96 per cent.

The big four banks were all in the red, with Commonwealth was down 0.67 per cent to $71.33; NAB down 0.64 per cent to $24.96; ANZ down 0.42 to $26.30; and Westpac down 0.38 per cent to $26.42 after it said it was exiting the scandal-hit personal financial advice business.

Westpac said selling its personal advice business would result in one-off costs of $250 million to $300 million across two years, but earnings-per-share would eventually improve as it left the high cost, loss-making business.

Coal miner New Hope Corp was down 11.79 per cent, to $3.89, despite saying its net profit for the six months to January 31 had risen four per cent, to $120.2 million. Mr Tao said the numbers weren't bad and called the size of the drop disproportionate.

Cann Group soared 37.72 per cent, to $2.30, a one-month high, after the medical cannabis grower said it had found a new location for its planned $130 million marijuana greenhouse, in regional Victoria.

Caltex Australia was down 3.54 per cent, to $27.54, after it said its retail fuel margins had softened due to the higher crude prices and "competitor activity". It expects to make $160 million to $170 million from retail sales in the first quarter, down $35 million to $45 million from a year ago.

Telco TPG was up 4.39 per cent, to $7.14, after it said its underlying earnings were up 2.8 per cent to $424.4 million, excluding one-off hits from scrapping its plans to roll out a mobile network.

Intellectual property firm QANTM was down 0.35 per cent after merger partner Xenith rebuffed an unsolicited takeover offer from IPH. IPH slumped 1.47 per cent and Xenith was down 1.36 per cent.

Reserve Bank minutes released on Tuesday show the board raised "significant uncertainties" over the state of the Australian economy when they kept the cash rate at a record low 1.5 per cent this month.

The Aussie dollar is buying 71.03 US cents, from 71.12 US cents on Monday.

ON THE ASX:

* The benchmark S&P/ASX200 index was down 5.7 points, or 0.09 per cent, to 6184.8 points at 1630 AEDT on Tuesday.

* The All Ordinaries was down seven points, or 0.11 per cent, to 6276.6.

* At 1630 AEDT, the SPI200 futures index was down three points, or 0.05 per cent, at 6811.

CURRENCY SNAPSHOT AT 1630 AEDT:

One Australian dollar buys:

* 71.03 US cents, from 70.84 US on Monday

* 79.00 Japanese yen, from 79.12

* 62.60 euro cents, from 62.60

* 53.51 British pence, from 53.50

* 103.53 NZ cents, from 103.44

In Asia

Asian shares held to tight ranges on Tuesday ahead of a Federal Reserve policy meeting, but were broadly supported near 6-1/2-month highs on expectations the U.S. central bank might strike a dovish tone

MSCI’s broadest index of Asia-Pacific shares outside Japan was virtually flat, easing back from its highest level since Sept. 4 hit earlier in the session.

Japan’s Nikkei average and Australian stocks both dipped 0.1 percent.

In China, the benchmark Shanghai Composite slipped 0.2 percent and the blue-chip CSI 300 fell 0.4 percent, while Hong Kong’s Hang Seng was almost flat.

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In Europe

European shares were on course for a fifth day of gains on Tuesday, powered by a strong rally in automakers after Peugeot suggested Fiat Chrysler was among the options for a merger, and as Bank of America Merrill Lynch talked up stocks in the sector.

The STOXX 600 autos & suppliers sector index jumped 2.4 percent to post their biggest one-day gain in more than three months, helping the benchmark STOXX 600 climb 0.6 percent and scale a near six-month peak.

The rally was also spurred by investor anticipation of a more accommodative Federal Reserve, as well as some likely short covering as fund managers named bearish bets in European equities as the “most crowded” trade for the first time.

“There is likely to be some short covering today given that sentiment across the world is positive in stocks and some traders have been viewing the poor economic indicators of the euro zone as justification for shorting the euro zone,” said CMC Markets analyst David Madden.

Madden said the Fed was likely to maintain its data driven policy approach. This would follow moves by the European Central Bank two weeks ago to reloosen policy and pump more money into the financial system, offering hope of a continuation of stock market gains.

The auto index was boosted by a 5 percent jump in Fiat Chrysler after the president of Peugeot family holding company suggested that it was among the options for a merger, and Bank of America Merrill Lynch recommending contrarian investors buy select carmakers.

Daimler, Volkswagen and Porsche were among BAML’s top picks, helping German stocks stage a rebound from Monday’s fall to a five-month high and lead gains in the region.

The merger talk took the respective country index’s higher. Shares of Fiat Chrysler were among the top three gainers on the benchmark STOXX index.

Brexit news pointed to a delay in efforts by British Prime Minister Theresa May to get her divorce deal through parliament.

The speaker of parliament on Monday ruled May could not put her deal to a new vote unless it was re-submitted in a fundamentally different form. May is due at an EU summit in Brussels on Thursday at which she will ask for a delay to Britain’s planned departure from the bloc on March 29.

“We still don’t see a ‘Hard Brexit’ over the coming weeks or so. It’s already been highlighted that there are quick fixes around what was presented earlier. Focus will be on Brussels and what comes out of the meeting there,” said Geoffrey Yu, head of UK investment office at UBS Wealth Management.

London’s FTSE 100, packed with international companies that benefit from a weaker British pound, rose 0.4 percent, boosted by oil majors and miners.

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In the United States

Wall Street gained ground on Tuesday, with investors expecting the U.S. Federal Reserve to reaffirm its dovish stance as it began its two-day monetary policy meeting.

However, earlier gains were pared following a Bloomberg report that China is pushing back against American demands in trade negotiations.

Still, all three major U.S. stock indexes remained in the black. The Dow was set to post its fifth straight gain and the benchmark S&P 500 was about 3 percent away from its all-time high set last September.

As the Fed convened its two-day policy meeting, investors expected little change in its measured approach to interest rate hikes.

“It’s an ongoing thing,” said Paul Nolte, portfolio manager at Kingsview Asset Management in Chicago. “Central banks, not just in the U.S. but around the world, are backpedaling, finding new ways to back away from monetary tightening.”

“That easy monetary structure is what is giving lift to stock prices,” Nolte added.

Its summary of economic projections - or “dot plot” - due for release on Wednesday, will be closely scrutinized for clues regarding the extent of the central bank’s patience.

But Nolte questioned whether the dot plot deserves this level of scrutiny.

“Since it has been rolled out it has been adjusted at almost every meeting,” he said. “I’m not sure it’s a very useful tool from a long-term perspective in determining the future direction of the Fed funds rate.”

A report from the U.S. Commerce Department showed a smaller-than-expected increase in factory orders, the latest in a string of underwhelming economic data that has supported the Fed’s more accommodative stance.

Still, industrials helped boost the Dow’s advance, with Boeing Co gaining some altitude following a sell-off related to the March 10 crash of its 737 MAX aircraft, as analysis of black box data from the Ethiopian Airlines craft got underway. The plane maker’s shares were last up 0.7 percent.

The Dow Jones Industrial Average rose 37.01 points, or 0.14 percent, to 25,951.11, the S&P 500 gained 6.87 points, or 0.24 percent, to 2,839.81 and the Nasdaq Composite added 32.84 points, or 0.43 percent, to 7,747.31.

Of the 11 major sectors of the S&P 500, seven were in positive territory. The consumer discretionary sector was the biggest percentage gainer, led by Amazon.com’s 1.9 percent advance.

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Everybody say “Dot Plot”.

Australian News

'Significant uncertainty' in outlook: RBA. Economists say the door remains open to Reserve Bank rate cuts this year after members raised "significant uncertainties" over the Australian economy at this month's board meeting.
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Home prices across Australia's capital cities fell by 2.4 per cent in the three months to December, trimming the total value of the country's dwellings to $6.7 trillion. Prices fell 5.1 per cent across the whole of 2018, according to the Australian Bureau of Statistics' Residential Property Price Index, released on Tuesday.
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It may come as a surprise, but Sydney is no longer among the world's top 10 most expensive cities to live. The Emerald City has fallen six places to 16th place in the Economist Intelligence Unit's (EIU) Worldwide Cost of Living 2019 survey, while Melbourne dropped eight spots to 22nd and Brisbane was 41st (-15). Adelaide (51st, -21) and Perth (64th, -18) were among the biggest movers down the ranking in the past 12 months.
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120 labour market researchers sign an open letter calling for intervention to boost wage growth
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Copper prices held steady overnight, bolstered by expectations of seasonally strong Chinese demand in the second quarter and low stocks but capped by concern over the impact of continuing trade tensions on the global economy.
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Coal exporters forced to divert ships as China port delays intensify
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Coal export fears resurface as restrictions hit more Chinese ports and Australian prices cop a 'belting'
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Global News

U.S. factory orders barely rise; shipments fall further. New orders for U.S.-made goods rose less than expected in January and shipments fell for a fourth straight month, offering more evidence of a slowdown in manufacturing activity.
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Apple announces faster, smarter iMacs
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Ethical funds review Facebook shareholding amid political crackdown. Ethical investment funds are reviewing their shareholdings in Facebook after the platform was used to livestream the Christchurch terror attacks, as digital giants scramble to defend their practices amid growing global criticism.
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Devin Nunes sues Twitter for more than $350 million alleging anti-conservative ‘shadow bans’. A Republican congressman has filed a $350 million legal claim against Twitter for allegedly “shadow-banning conservatives” to influence the 2018 elections
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Netflix, the world's dominant streaming service, will not make its TV shows and movies available through Apple's upcoming video offering. "We prefer to let our customers watch our content on our service," Netflix chief executive Reed Hastings told reporters on Monday at the company's offices in Hollywood.
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Used soap from Hilton Hotels is getting a second life. The company announced Monday that it will collect used bars of soap from guest rooms across its hotels and recycle them into 1 million new bars of soap by October 15, which is Global Handwashing Day.
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Google has unveiled a new digital gaming platform called Stadia which will stream data-rich games that have traditionally had to be either downloaded or purchased on disk. At launch it will work on existing desktops, laptops, TVs and phones, said the firm's Phil Harrison.
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Prime Minister Theresa May will ask the European Union to delay Brexit by at least three months after her plan to hold another vote this week on her twice-defeated divorce deal was thrown into disarray by a surprise intervention from the speaker of parliament.
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British employers ramped up their hiring at the fastest pace since 2015 in the three months to January as the labour market defied broader Brexit weakness in the overall economy.
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China rejects 'abnormal' US spying concerns as EU pushes trade. China's top diplomat goes to Brussels to cool growing EU frustration over trade.
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Stock News

Westpac consumer boss George Frazis is leaving after the lender asked business bank chief executive David Lindberg to take over the unit. Westpac said Mr Frazis, the former St George CEO who has been chief executive of the consumer bank since 2015, will leave in June "to pursue other leadership opportunities".
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Westpac is selling its personal financial advice business as Australia's second-biggest bank exits the scandal-hit sector.
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Fenix Resources upgrades Iron Ridge mineral resource by 84%
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Coal miner New Hope Corp has posted a four per cent rise in its half-year net profit as a jump in revenue on stronger coal prices was partially offset by increased expenses.
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Mincor Resources has taken a major step towards re-starting its Kambalda nickel operations after the company re-engaged with its former long-term offtake partner BHP’s Nickel West to sign a term sheet covering a five-year supply deal. Shares in Mincor jumped this morning after the company said the new agreement, which replaces a 20-year offtake deal with Nickel West that expired in February, offered “substantially improved terms”.
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West Wits Mining Limited (ASX:WWI) has appointed Simon Whyte as joint company secretary effective from March 16, 2019. Whyte has been engaged with West Wits Mining as a consultant since November 2017 with his role having grown over the period to his recent appointment as chief financial officer in November 2018 and now joint company secretary.
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Atlassian founders worth $10 billion each after record stock rise
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Kalium Lakes agrees terms for $102 million debt funding for Beyondie Project. Australia’s first Sulphate of Potash production is on schedule to begin in 2020.
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Hardey Resources undertaking comprehensive review to determine ideal strategy. The company will reconsider the acquisitions of Nelly Vanadium Pty Ltd and Vanadium Mining Pty Ltd.
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The board of intellectual property law firm Xenith IP has rejected an unsolicited takeover offer from IPH, saying it isn't superior to its merger of equals with QANTM Intellectual Property.
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Melbourne firm’s world-first ‘virtual fence’ GPS cow collar musters $164 million forecast. An Australian company behind a GPS collar that creates a “virtual fence” for livestock is making big mooves on the world stage.
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Supermarket giants Coles and Aldi are raising the prices of their two and three litre bottles of milk, vowing to pass the extra money onto Australian dairy farmers. From Wednesday, the two supermarkets will add 10 cents per litre to each bottle, making their two-litre bottles $2.20 and three-litre bottles $3.30.
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TPG Telecom's first-half profit has slumped 76.5 per cent to $46.9 million after its decision to halt the rollout of its planned mobile network resulted in a $227.4 million impairment.
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For sale: $1.2 billion 4G spectrum, still in the box - call David Teoh. David Teoh’s TPG is a company in limbo - experiencing a sliding doors moment. In May, the competition regulator will decide which of these doors the telco can move through - either down the path of a merger with Vodafone or to a less palatable place which includes dealing with a $1.2 billion 4G spectrum white elephant.
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Vivid Technology begins developing high-energy efficiency solutions for agritech and medical cannabis markets. The company is working with a global technology partner to jointly develop a patented proprietary horticulture lighting system.
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Medical cannabis company Cann Group says it will build its planned huge marijuana greenhouse in regional Victoria, rather than near Melbourne's Tullamarine Airport. Cann Group said on Tuesday it has entered into a non-binding agreement to buy a site in Mildura for $10.75 million and plans to build a 3.4-hectare state-of-the-art greenhouse there.
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