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Wall St closed 400 points lower on Friday as inflation and tariff concerns worried investors towards the back end of the week. The Dow Jones fell 1, the S&P500 dropped 0.95% and the tech heavy Nasdaq lost 1.36%.

Over in Europe, markets followed the US and closed lower as corporate earnings continue to roll out. The STOXX600 fell 0.38% after a key US jobs report disappointed investors. Germany’s DAX lost over half a percent, the French CAC dropped 0.43% and over in the UK, the FTSE100 ended Friday’s trading session 0.31% in the red.

Locally on Friday, the ASX200 closed 0.11% lower with half of the sectors closing in negative territory. Losses were led by the energy and health sectors which lost 1.45% and 1.03% respectively. This was offset by the information technology sector which gained over half a percent.

What to watch today:

• The Australian share market is set to open lower, with the SPI futures suggesting a fall of 0.76% at market open this morning.
• On the commodities front this morning,
  • Oil is trading 0.55% higher at 71 US dollars a barrel, gold is trading 0.05% higher at 2859 US dollars an ounce and iron ore is trading 0.13% higher at 106 US dollars and 37 cents a tonne.

Trading Ideas:

• Bell Potter initiates coverage on Aristocrat Leisure (ASX:NGI) with a buy rating and has a 12-month share price target of $83. With a current share price of $73.72, this indicates a share price growth of 12.6% over the next 12-months, hence the buy rating is recommended.
• And Trading Central has identified a bullish signal on Navigator Global Investments (ASX:ALL), indicating that the stock price may rise from the close of $1.60 to the range of $1.83-$1.89 on a pattern formed over 74 days according to the standard principles of technical analysis.