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It was a positive day for Aussie shares yesterday with a broad rally in the final session of the quarter. The market rebounded with all 11 sectors closing higher.

European stocks wrapped up September in negative territory, however the STOXX 600 closed slightly higher, up 0.2%.

US equities dropped overnight, with the S&P500 wrapping up its worst month since March 2020. This was amid rising rates, inflation fears, COVID-19, and concerns of the Chinese property market.

Today, following shares falling in New York, the SPI futures are suggesting the ASX200 will fall 1.6% at the open.

What to watch today:

• In economic news, the Markit Manufacturing PMI for September will be released at 9am AEST. Forecasts expect it to rise from 52 to 57.3. Home Loan data for August will also be released today at 10:30am AEST.
• Over 60 stocks and ETFs are set to go ex-dividend today. This often sees shares fall and investors take their profits.
• The most traded stocks by Bell Direct clients yesterday included CSL (ASX:CSL), after falling almost 6% this week, but closing in the green yesterday. CSL is currently a Morgans BUY. Fortescue Metals (ASX:FMG) was another most traded stock, rising higher amid higher iron ore prices as Chinese steel mills stocked inventories before their national public holiday. However, Chinese iron ore demand remains constrained. And if you hold FMG, keep watch of it today – the company has suspended operations at its iron ore mine in Pilbara in WA, after an employee has tragically died in a ground collapse. FMG is currently a Bell Potter BUY.

• The oil price has risen almost 0.5%, trading just above US$75 a barrel. Gold is trading higher, while lithium has fallen heavily.
• The coal price has surged to a record high of $212 per metric, amid tight supply in China as they aim for carbon neutrality and the seaborne iron ore price is trading slightly lower at US$119.65.

Trading ideas:

• Bell Potter maintain their BUY rating on Coronado Global Resources (ASX:CRN), and have increased their price target from $1.20 to $1.40. Strong met coal prices and improving operational performance has flowed through to cash flow. CRN closed yesterday at $1.29, implying 8.5% share price growth in a year.
• Citi has upgraded JB Hi-Fi (ASX:JBH) to a BUY after positive share price performance. Citi pulled back its price target on JBH to $53 (previously $55), with an expected share price return of 19.9%.
• Bullish charting signals have been identified in Resolute Mining (ASX:RSG), Orica (ASX:ORI) and Crown Resorts (ASX:CWN), according to Trading Central.