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Wall St closed higher on Friday with the Dow hitting a fresh record as investors shift from the high growth tech sectors to areas of the market that are more economically sensitive. The Dow Jones rose 0.97% on Friday to a record 44,296.51 points, the S&P500 added 0.35% and the Nasdaq ended the day up 0.16%.

Over in Europe on Friday markets closed higher as investors assessed weaker-than-expected economic data which builds the case for central bank rate cuts in the region. The STOXX 600 rose 1.2%, Germany’s DAX added 0.92% despite the country’s business activity falling for a 5th consecutive month, the French CAC rose 0.6% and, in the UK, the FTSE100 ended the day up 1.4%.

Over in the Asia market on Friday, markets in the region closed mostly higher as investors await clarity on how US-imposed tariffs will impact markets in the region when Trump steps into office in the US. Japan’s Nikkei rose 0.7%, South Korea’s Kospi Index gained 0.83%, while China’s CSI index fell 3.1%.

Locally on Friday the ASX 200 rose 0.85% to a fresh record 8393.8 points with all but the tech sector ending the day in the green led by energy stocks rising 2.3%.

A2 Milk Company rose over 13% on Friday after the milk and infant milk formula company announced a revenue guidance upgrade and that the company has established a dividend policy.

WiseTech Global fell 12.4% on Friday after the company downgraded revenue and earnings guidance for FY25 at its AGM amid recent media distractions delaying the launch of key products in the company.

What to watch today:

• Ahead of Monday’s trading session on the ASX the SPI futures are anticipating the local market to open the new trading week up 0.62% extending on the record close on Friday.
• On the commodities front this morning oil is trading 1.54% higher at US$71.18/barrel, gold is up 1.75% at US$2715.85/ounce and iron ore is down 0.07% at US$101.95/tonne.
• The Aussie dollar is buying 65.16 US cents, 100.70 Japanese Yen, 51.85 British Pence, and 1 New Zealand dollar and 12 cents.

Trading Idea:

• Bell Potter has increased the rating on Lovisa (ASX:LOV) from a hold to a buy and have slightly lowered the 12-month price target on the fashion jewellery brand from $31/share to $30/share following the FY25 trading update out of the company for the first 20 weeks of the new financial year including total sales up 10% which is lower than the PCP, and global comparable sales were down on the PCP. New stores opened hit 40 though which is tracking in-line with Bell Potter expectations.