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Wall St closed higher overnight as softening oil prices lift stocks. The Dow Jones rose by 0.65%, the S&P500 gained 0.27% and the tech heavy Nasdaq ended Monday’s trading session 0.26% higher.

Over in Europe, markets closed higher with the STOXX600 ending Monday’s trading session 0.47% in the green. Gains were led by construction and media stocks which added 2% and 1.6% respectively, while oil and gas stocks fell 1.4%. Germany’s DAX rose 0.35%, the French CAC gained 0.79% and over in the UK the FTSE100 ended the trading session 0.45% higher.

Locally yesterday, the ASX200 closed 0.12% higher with the majority of sectors closing in the green. Gains were led by the information technology and consumer discretionary sectors which rose 1.97% and 0.97% respectively. This was offset by the utilities sector which fell 0.59% by market close.

What to watch today:

• The Australian share market is set to open higher, with the SPI futures suggesting a rise of 0.42% at market open this morning.
• On the commodities front this morning,
  • Oil is trading 5.27% lower at 67 US dollars and 98 cents a barrel after Israel’s strikes on Iran over the weekend missed the country’s crude facilities and nuclear infrastructure.
  • Gold is trading 0.17% lower at 2742 US dollars an ounce and iron ore is trading 0.16% lower at 104 US dollars and 23 cents a tonne.

Trading Ideas:

• Bell Potter has upgraded its hold rating to a buy rating for Droneshield (ASX:DRO) and has a 12-month price target of $1.20. Bell Potter has changed its recommendation to a buy despite DRO’s revenue year to date being disappointing. Droneshield remains a high quality technology company, operating in a rapidly growing market and is well capitalised to maintain its market leading position, hence the buy rating is maintained.
• Trading Central has identified a bearish signal on National Australian Bank (ASX:NAB), indicating that the stock price may fall from the close of $38.67 to the range of $35.10-$35.80, on a pattern formed over 24 days according to the standard principles of technical analysis.