Latest stock market news videos & Morning Bell

US equities closed mixed overnight after the Federal Reserve kept rates on hold at 5.25% – 5.5% and ruled out that the central bank’s next move could be a hike. While the Dow Jones closed higher off the back of the Fed’s announcement, the broader market finished lower after a volatile trading session. During the session the S&P500 was up 1.2% before closing 0.34% lower, and the tech-heavy Nasdaq had climbed 1.7% before closing 0.33% lower.

What to watch today:

The Australian market is set to open 0.07% lower this morning, following heavy losses yesterday across all industry sectors. The ASX200 closed yesterday’s trading session down 1.23%, with energy and materials weighing down on the market the most.

The market will also be watching NAB’s share price today. The bank released its half-year results this morning and announced it will buy back up to $1.5 billion of its own stock as profit at the lender came in line with expectations. Cash earnings declined 13% to $3.55 billion in the six-month period ending March 31.

Also today, continue to watch Qantas shares following a data breach on the airline’s app yesterday. Qantas passengers were seeing details of other customers on their app, including the name, flight details and loyalty points. QAN declined 1.2% yesterday.

Also watch Woolworths (ASX:WOW) after the supermarket sold down its stake in Endeavour (ASX:EDV). Woolworths may see an uptick today after closing in the red yesterday, after announcing the $468 million Endeavour sell down, which offset a broad market sell-off. Endeavour Groups (ASX:EDV) share price is looking bullish today, so keep watch of Endeavour as well.

The market will also be watching NAB’s share price today when the bank releases its half-year results. Goldman Sachs are expecting the bank to declare an 81cps full franked interim dividend, down 2.4% on last year’s interim dividend.

In commodities,

• Oil is trading more than 3.4% lower at US$79 per barrel, the lowest price in over a month as a rebound in US crude stockpiles supported supply of a ceasefire in the Middle East.
• Gold is trading higher, advancing more than 1.3% to $2,321 per ounce, but remaining near the low levels seen about a month ago, as US traders digest the latest Fed meeting.
• And iron ore is steady at US$110 per tonne.

And in economic news, balance of trade data for March will be released at 12:30pm today.

Trading Ideas:

• Bell Potter maintains their Buy rating on Aeris Resources (ASX:AIS), after the multi-mine copper-gold production and exploration company released its March quarterly report. Bell Potter have increased their 12-month price target from $0.23 to $0.30, and at the current stock price of $0.25, this implies 17.6% share price growth in a year.
• And Trading Central have identified a bearish signal in Sigma Healthcare (ASX:SIG) indicating that the stock price may fall from the close of $1.25 to the range of $1.08 – $1.12 over 35 days, according to the standard principles of technical analysis.

To receive more insights and research that is available exclusively to Bell Direct clients, open your Bell Direct account here.