Market Open: Magnificent run on US markets, ASX200 tipped to rise

The Market Herald03-13

The ASX200 is tipped to gain about a quarter of a per cent on Market Open after six of the Magnificent 7 stocks rallied on US markets overnight on growing confidence there’ll be a June rate, thanks to...

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Keep an eye on our video feed, Cerutty Macro Fund founder and AFL great, Chris Judd, will bring you his Talk Ya B","collect":0,"end_time":0,"defaultTopTitle":"themarketonline.com.au","property":[],"viewcount":null,"language":"en","relate_stocks":{"00201":"华大酒店","PWN.AU":"PARKWAY CORPORATE LTD","BK7097":"酿酒商与葡萄酒商","BK7135":"综合性银行","BK7095":"多种金属与采矿","BK7020":"化肥与农用药剂","BK7504":"锂钴概念","BK7505":"食品股","CXO.AU":"CORE LITHIUM LTD","BK1164":"酒店、度假村与豪华游轮","TWE.AU":"TREASURY WINE ESTATES LTD","CBA.AU":"COMMONWEALTH BANK OF AUSTRAL"},"translate_title":"开市：美国股市表现强劲，ASX200指数有望上涨","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"00201":1,"CBA.AU":1,"CXO.AU":1,"PWN.AU":1,"TWE.AU":1},"content_text":"The ASX200 is tipped to gain about a quarter of a per cent on Market Open after six of the Magnificent 7 stocks rallied on US markets overnight on growing confidence there’ll be a June rate, thanks to February’s lower inflation data. The Nasdaq gained 1.5 per cent and the S&P500 lifted 1.1 per cent – setting a new bourse record.\nAnnual core inflation for the US eased to 3.8 per cent – that’s its lowest level since mid-2021.\nNvidia picked up more than 7 per cent, Meta 3.3 per cent and Microsoft added 2.6 per cent.\nThat news – and data showing wages growth was slowing in the UK – boosted European markets too – both the German and French indices soared to new all-time highs.\nBack home and the iron ore majors will again be in the spotlight after the iron ore price continued to fall overnight. The commodity shed nearly 6 per cent to be trading around US$110 a tonne.\nCBA Group (ASX:CBA) household spending and monthly business turnover indicator data is due out at 9am eastern states time.\nIn small caps to watch this morning, owner of Penfolds, Treasury Wine Estates (ASX:TWE) commented on the Chinese Commerce Ministry’s plans to remove tariffs on Australian wines. Nothing’s definite and the company this morning reported tariff removal would have ‘minimal’ impact on its earnings this financial year.\nCore Lithium’s (ASX:CXO) CEO Gareth Manderson is stepping down as it restructures its business in response to the lower lithium price. Mining operations have been suspended at the Finniss project although stockpiles are being processed for spodumene. Doug Warden has been appointed ‘interim CEO’. It’s half year financials were also released: Core Lithium reported a net loss after tax of $167.6 million.\nAnd Parkway Corporate (ASX:PWN) has acquired established water, oil, gas and chemicals engineering company Tankweld Group in a $2.6 million deal.\nIn other commodities, gold’s slipped back as confidence grows around interest rate cuts in the US, gold dropped 1.1 per cent overnight to US$2158.30 an ounce.\nCrude oil has been trading at US$78 a barrel, brent at US$82.35 and natural gas has been down around US$1.70 per million British thermal units.\nThat’s Market Open for Wednesday March 13. Keep an eye on our video feed, Cerutty Macro Fund founder and AFL great, Chris Judd, will bring you his Talk Ya Book show from 7.30am on HotCopper and The Market Online.","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.4","shortVersion":"4.22.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2419484592"}