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US equities all closed higher overnight after a volatile session as the Federal Reserve signalled that the risks for an economic slowdown and higher prices are increasing. The Dow Jones gained 0.7%, boosted by a nearly 11% jump in Disney shares following their fiscal second quarter report which saw a surprising increase in subscriber numbers. The S&P500 gained 0.43% while the Nasdaq gained 0.27%.

Additionally, the Federal Open Market Committee held its held its benchmark overnight borrowing rate in a range between 4.25% to 4.5%, where it has been since December. Rates were held steady, with officials adopting a wait-and-see approach amid growing fears of economic stagnation fuelled by President Trump’s tariffs.

European markets all closed in the red with corporate earnings the main focus for investors. The STOXX600 closed 0.5% lower.

Locally yesterday, the ASX200 gained 0.33% with energy and real estate in the lead, while healthcare and tech were the only two sectors to close in the red.

What to watch today:

• The SPI futures are suggesting our local market will rise slightly, up 0.1% at the open this morning.
• In commodities,
  • Crude oil is trading almost 2% lower at US$57.93 per barrel, hovering near four-year lows due to muted optimism ahead of upcoming U.S.-China trade talks. The Federal Reserve held interest rates steady, as officials adopt the wait-and-see approach on tariffs.
  • The price of gold is 1.07% lower at US$3,364.21 an ounce with the rising risks of both inflation and unemployment, reinforcing a cautious stance on future rate adjustments.
  • And iron ore is up 0.7% at US$99.33 per tonne.

Trading Ideas:

• Bell Potter maintain a BUY rating on Bega Cheese (ASX:BGA) with a 12- month price target of $7.00. At BGA’s current share price of $5.93, this implies 18% share price growth in a year.
• And Trading Central have identified a bullish signal in New Hope Corporation (ASX:NHC) indicating that the stock price may rise from the close of $3.75 to the range of $4.21 – 4.31 over 33 days according to the standard principles of technical analysis.