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Morning Bell 3 April

Bell Direct
April 3, 2025

Wall St closed higher overnight as investors get ready for the rollout of President, Donald Trump’s reciprocal tariff plans. The Dow Jones gained over half a percent, the S&P500 rose by 0.67% and the tech-heavy Nasdaq jumped 0.87%.

Over in Europe, markets closed lower as traders digest news of Trump’s tariff plans. The STOXX600 fell half a percent with most sectors closing Wednesday’s trading session in the red. Germany’s DAX lost 0.66%, the French CAC dropped 0.22% and over in the UK, the FTSE100 ended the day 0.3% down.

Locally yesterday, the ASX200 rose by 0.12% with half of the major sectors closing in the green. Gains were led by the real estate and communication services sectors which rose by 1.63% and 0.8% respectively. This was offset by the materials sector which fell by 1.61% by the closing bell.

What to watch today:

  • The Australian share market is set to open higher, with the SPI futures suggesting a rise of 0.53% at market open this morning.
  • On the commodities front this morning,
    • Oil is trading 0.66% down to 70 US dollars and 65 cents a barrel as Trump’s tariff announcement increases uncertainty on oil demand.
    • Gold is trading up 0.47% at 3129 US dollars an ounce and iron ore is trading 0.29% lower at 102 US dollars and 21 cents a tonne.

Trading Ideas:

  • Bell Potter maintains a buy rating on HUB24 (ASX:HUB), despite reducing its 12-month price target to $78. With a current share price of $68.11, this indicates a share price growth of 14.5% over the next 12-months, hence the buy rating is maintained.
  • And Bell Potter maintains a hold rating on Netwealth Group (ASX:NWL) and has a 12-month price target of $25.80. Bell Potter maintains a hold rating as they see emerging upside risk to flows with longer-term growth already captured and implied in discounted cashflows through their valuation approach. Other providers have delivered impactful new technology enhancements during the last 12-months, limiting the balance of growth and margins, hence the hold rating is maintained.

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