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Wall St closed lower overnight as investor concerns over Trump’s tariffs returned following a short-lived relief rally. The S&P 500 fell by 1.57%, the Dow Jones dropped 0.84% and the tech-heavy Nasdaq closed 2.15% lower.

Over in Europe, markets snapped their 4-day losing streak with the STOXX600 closing 2.72% higher overnight. Gains were led by insurance and financial services stocks which rose 4.08% and 3.89% respectively. Germany’s DAX rose 2.48%, the French CAC jumped 2.5% and over in the UK, the FTSE 100 ended Tuesday’s trading session 2.71% in the green.

The local market recovered some of the market losses yesterday to close the day up 2.27% after a mass exodus from equities across global markets, since Trump’s liberation day widespread tariff handouts. Gains were led by the information technology and energy sectors which closed 4.63% and 4.06% higher respectively.

What to watch today:

• The Australian share market is set to open lower, with the SPI futures suggesting a fall of 1.88% at market open this morning.
• On the commodities front this morning,
  • Oil is trading 3.86% lower at 58 US dollars and 36 cents a barrel, gold is trading 0.03% higher at 2982 US dollars an ounce and iron ore is trading 1.74% lower at 100 US dollars and 85 cents a tonne.

Trading Ideas:

• Bell Potter maintains a buy rating on Mineral Resources and has a 12-month price target of $29. With a current share price of $16.38, this indicates a share price growth of 77% over the next 12-months, hence the buy rating is recommended.
• Trading Central has identified a bullish signal on TPG Telecom, indicating that the share price may rise from the close of $4.85 to the range of $5.30-$5.45, on a pattern formed over 10 days, according to the standard principles of technical analysis.