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US equities closed in the green as investors await inflation data with the send of the second quarter approaching. The Dow Jones and the S&P500 both ended the session 0.09% higher, while the tech-heavy Nasdaq gained 0.3%, with AI companies gaining momentum. After hours, a big mover was Nike, its shares down more than 12% after the athletic retailer cut its full-year guidance.

Locally yesterday, information technology and healthcare sectors lead the market, while real estate and utilities declined the most. The ASX200 ended the trading session down 0.3%.

What to watch today:

• The Australian share market is set to open higher this morning, with the SPI futures suggesting a rise of 0.34%.
• In commodities,
  • Crude oil is trading 1.25% higher at US$81.91 per barrel, nearing a two-month high as supply concerns due to escalating conflict in the Middle East outweighed a surprise increase in US stockpiles.
  • Gold rebounded, trading a US$2,327 an ounce after having tested the lowest in nearly three months earlier in the session, as markets digested data for hints of the Fed’s policy outlook this year.
  • And iron ore is steady at US$106 per tonne.
• In economic data today, housing credit and private sector credit data for May will be released today.

Trading Ideas:

• Bell Potter maintain a BUY rating on Lynas Rare Earths (ASX:LYC) after the company announced it intends to update its Lynas Malaysia Plant. Bell Potter think the share price could be undervalued. They have increased their price target from $7.55 to $7.80. At LYC’s current share price of $5.95, this implies 31% share price growth in a year.
• Trading Central have identified a bullish signal in Northern Star Resources (ASX:NST) indicating that the stock price may rise from the close of $13.01.