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Wall St had a negative end to the week last week as investors awaited clarity on US-China trade talks and the Fed held the US cash rate steady amid outlook for tariff implications sparking an inflationary rebound in the world’s largest economy. The Dow Jones fell 0.3%, the S&P500 lost 0.07% and the tech-heavy Nasdaq ended the day flat.

This morning, Trump has declared great progress after high-level trade talks began with China over the weekend, with the US president claiming the meeting as a ‘total reset’ in the trade war which positions the markets for a strong start to the new trading week.

In Europe on Friday, markets closed higher as investors hold high hopes of a positive outcome from the US and China’s trade negotiations. The STOXX 600 rose 0.44%, Germany’s DAX closed at a record high up 0.63%, the French CAC rose 0.64% and, in the UK, the FTSE 100 ended the day up 0.3%.

Across the Asia region on Friday, markets closed mixed as investors digested the latest economic data out of China and awaited key trade talks between the US and China over the weekend. Japan’s Nikkei rose 1.56% on Friday, China’s CSI index fell 0.17%, Hong Kong’s Hang Seng climbed 0.4% and South Korea’s Kospi index ended the day up 0.09%.

Locally to end the week, the ASX 200 ended the week with a positive session on Friday as the key index rose 0.48% boosted by a strong tech and financial rally, but for the week the ASX 200 posted a slight decline of 0.08%. Healthcare stocks took the biggest hit over the last 5-trading days as investors fled the sector over concerns of Trump’s pharmaceuticals tariffs set to be rolled out over the coming weeks.

Liontown Resources soared 195 on Friday after the lithium producer released 2-key trading updates this week that were well received by investors, despite the spot price of lithium carbonate sinking to a four-year low this week.

And Chrysos Corporation soared almost 18% on Friday after signing an agreement with gold production giant Newmont Corporation that will see Chrysos’ PhotonAssay technology used for Newmont’s gold mining projects.

What to watch today:

• On the commodities front this morning, oil is trading 0.67% higher at US$61.43/barrel, gold is down 1.3% at US$3282/ounce and iron ore is up 0.33% at US$98.55/tonne.
• The Aussie dollar has strengthened against the greenback to buy 64.29 US cents, 93.79 Japanese Yen, 48.57 British Pence and 1 New Zealand dollar and 9 cents.
• Ahead of the first trading session of the new week, the SPI futures are anticipating the ASX will open the day up 0.19% amid positive sentiment from progress on the global trade war front.

Trading Ideas:

• Bell Potter has increased the rating on Catalyst Metals from a hold to a buy and have raised the 12-month price target on the gold producer following the acquisition of the Old Highway gold project for $32.5m cash from Sandfire Resources. With 2.1 million tonnes at 3g/t containing 206koz gold, and a higher-grade underground component, the project adds significant upside to Catalysts’ portfolio and value.
• Trading Central has identified a bullish signal on Super Retail Group following the formation of a pattern over a period of 45-days which is roughly the same amount of time the share price may rise from the close of $14.14 to the range of $15.10 to $15.40 according to standard principles of technical analysis.