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Wall Street closed Tuesday’s session higher in yet another volatile session as traders took advantage of market uncertainty ahead of Trump’s tariff handouts on April 2nd US time, and on the back of weaker-than-expected economic data weighing on investor sentiment. The S&P500 rose 0.38%, the Dow Jones added 0.03% and the Nasdaq ended the day up 0.87%. Investor sentiment was also hit by the Institute for Supply Management manufacturing survey coming in lighter than expected and in contraction territory for February, while February’s job openings were also slightly below estimates in signs the economy is slowing due to tariff implications on US economic stability.
In Europe overnight, markets reversed Monday’s losses to close higher as eurozone inflation data for March showed inflation in the region cooled as expected to 2.2% for the month. The STOXX 600 rose 1.07%, Germany’s DAX added 1.7%, the French CAC gained 1.1% and, in the UK, the FTSE100 ended the day up 0.61%.
Across the Asia markets on Tuesday, markets also rebounded in the region following Monday’s sell-off as investors await clarity on Trump’s incoming tariffs, Japan’s Nikkei rose 0.11%, South Korea’s Kospi Index added 1.62%, Hong Kong’s Hang Seng gained 0.38% and China’s CSI index ended the day flat.
The local market started the trading week mixed with the third-worst session of 2025 posted on Monday followed by a recovery on Tuesday with the key index ending Tuesday’s session up 1%.
The RBA also held the nation’s cash rate at 4.1% for the next period to assess the unfolding trade situation with the US and to ensure inflation in Australia remains on track in the target range of 2-3%.
Elsewhere in the economic data space, Australia’s latest retail sales figures for February were released yesterday coming in at a rise of 0.2% for February which fell short of economists’ expectations and is a positive reading for Australia’s inflation journey easing as consumer spend is a big contributor to inflationary pressures.
Investors really are riding the wave of volatility right now ahead of Trump’s ‘Liberation Day’ reciprocal tariff day in the US on Wednesday the 2nd April whereby it is expected the US President will announce an array of tariffs on countries that he believes have been unfairly taxing US imports for some time.
The recent volatility has propelled gold to yet another record high overnight with the price of the commodity touching US$3145/ounce as investors flock to the safe-haven asset during times of high uncertainty.
The winning stock yesterday was AVJennings which leapt over 8% after announcing US real estate giant Proprium Capital and its local development arm, Avid Property, would acquire 100% of the company for 65.5cps.
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