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The ASX200 is eyeing a fall of 0.2% at the open following Wall Street’s fall overnight.

Tougher social distancing measures have been introduced in some parts of the U.S. with New York on the verge of a ‘full shutdown’.

Oil rose to a 9-month high to US$47, while Iron, Copper and Gold all fell overnight.

What to watch today:

• Chinese state media confirmed Beijing has blocked Australian coal imports, so keep an eye on coal mining companies like Whitehaven Coal (ASX:WHC), Stanmore Coal (ASX:SMR) and TerraCom (ASX:TER).

Local trading ideas:

• Access Innovation (ASX:AIM) was upgraded as a Bell Potter buy with a new $1.35 price target, implying 33% upside in a year from yesterday’s close.
• GR Engineering (ASX:GNG) was initiated as a Bell Potter buy with a $1.30 price target, implying 18% upside in a year from yesterday’s close. GR Engineering is leveraged to increase mining activity and Bell Potter forecasts it could make $299m in revenue, which would be a record result.
• BCI Minerals (ASX:BCI) was upgraded as a Bell Potter buy with a new $0.43 price target, implying 54% upside in a year from yesterday’s close. The Commonwealth Government’s Infrastructure Facility (NAIF) Board provided a $450m 15-year loan facility for its Salt & Potash Project in the Pilbara. What’s interesting is the existing salt solar evaporation projects owned by Rio Tinto nearby have been operating successfully there for almost fifty years, producing high quality salt for chemical and other industries.
• Vita Group (ASX:VTG), Mastermyne Group (ASX:MYE) and Gascoyne Resources (ASX:GCY) are all showing bullish charting signals according to Trading Central.