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Wall St closed higher to start the trading week as the Dow Jones closes above 44,000 for the first time ever, jumping 0.69%. The S&P500 rose by 0.1% and the tech-heavy Nasdaq gained 0.06%.

In terms of US stocks, JP Morgan Chase and Goldman Sachs rallied 1.1% and 2.3% respectively as investors hope that Trump’s election into the white house could lead to easier regulation in the banking sector.

Over in Europe, markets closed higher ahead of important economic data readings this week including inflation readings in Germany and the US and GDP readings in the UK. The STOXX600 closed 1.1% higher with the majority of sectors closing Monday’s trading session in

the green, with construction and materials stocks gaining 2%. Germany’s DAX rose 1.21%, the French CAC gained 1.2% and over in the UK, the FTSE100 closed Monday’s trading session 0.65% higher.

Locally yesterday, the ASX200 closed 0.35% lower to start the trading week. Losses were led by the materials and consumer staples sectors which fell 2.8% and 1.84% respectively. This was offset by the information technology sector which rose 1.39%.

What to watch today:

• The Australian share market is set to open flat, with the SPI futures suggesting a slight rise of 0.01% at market open this morning.
• On the commodities front this morning,
  • Oil is trading 3.09% lower at 68 US dollars and 21 cents a barrel after China’s economic stimulus measures fell short of expectations, increasing concerns for the demand for oil.
  • Gold is trading 2.3% lower at 2622 US dollars an ounce and iron ore is trading 1.33% lower at 103 US dollars and 82 cents a tonne.

Trading Ideas:

• Bell Potter maintains a buy rating on Infomedia (ASX:IFM) and has a 12-month price target of $1.78. The current share price of $1.29 predicts a 12-month share price growth of 37.5%, hence the buy rating is maintained.
• Trading Central has identified a bearish signal in Treasury Wine Estates (ASX:TWE), indicating that the stock price may fall from the close of $11.01 to the range of $9.30-$9.70, on a pattern formed over 35 days, according to the standard principles of technical analysis.