Morning traders. Thanks loungers, especially @Ravgnome. Outlook...

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    Morning traders. Thanks loungers, especially @Ravgnome.



    Outlook for the day: Highly positive following Wall Street's best night since January.


    ASX futures: up 55 points or 0.75%



    Overnight themes:

    • US stocks surge as Facebook owner Meta continues a run of strong trading updates from index heavyweights. Earnings news helps offset further signs the US economy is slowing.
    • The Dow and S&P 500 book their biggest gains since January 6.
    • Meta jumps 13.93% on a strong revenue forecast. Microsoft, Amazon and Alphabet (Google) all gain at least 3%.
    • “Facebook earnings last night and more broadly large cap earnings continue to surprise to the upside" - Mona Mahajan, senior investment strategist at Edward Jones.
    • Corporate news overshadows tepid economic growth. Gross domestic product increased just 1.1% last quarter, down from 2.6% at the end of last year.


    Key events today:

    • Australian wholesale inflation, private-sector credit - 11.30 am AEDT
    • US March inflation report (Personal Consumption Expenditures) - tonight


    S&P 500: up 79 points or 1.96%


    Dow: up 524 points or 1.57%


    Nasdaq: up 288 points or 2.43%


    Dollar: up 0.34% to 66.3 US cents


    Iron ore (Dalian): down 2% to US$102.04


    Brent crude: up 68 US cents or 0.88% to US$78.37


    Gold: up US$3 or 0.2% to US$1,999


    NYSE Arca Gold Bugs: up 1.04%


    Copper (LME): up 0.48% to US$8,593.50


    Nickel (LME): up 2.27% to US$24,145


    Global X Lithium & Battery Tech ETF: up 2.46%


    BHP: up 1.2% (US); up 0.3% (UK)


    RioT into: up 1.21% (US); up 0.14% (UK)




    Last edited by highlandlad: 28/04/23
 
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