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BERITA BAHASA INDONESIA
TOK PISIN
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Topic:Stock Market
The Australian share market futures are pointing to modest gains, as US stocks recovered on a rally in the beaten down tech sector.
However, investors remain nervous as Europe and Canada respond to US tariffs with their own trade barriers.
Follow the day's financial news and insights from our specialist business reporters on our live blog.
Disclaimer: this blog is not intended as investment advice.
By Michael Janda
Unlike Australia, which has opted not to retaliate to US tariffs on steel and aluminium for fear it would simply push up local prices for consumers, Europe and Canada have hit back at Donald Trump with trade barriers of their own.
Canada announced retaliatory tariffs on imports worth nearly $14 billion for steel and more than $3 billion for aluminium, as well as nearly $16 billion of various other US imports.
Not to be left out, the European Union announced tariffs on around $45 billion worth of US imports to the region.
Still not quite sure what Donald Trump's trade war is about? My colleagues Emily Clark and Brad Ryan have done a good job explaining it in straightforward terms.
By Michael Janda
Good morning, and welcome to the ABC's daily business and markets blog.
After some brutal days of selling over recent weeks, it looks like the bears are taking a walk and Goldilocks has snuck in to the market.
Tech stocks are leading gains on Wall Street as more adventurous investors seek what they see as a bargain.
"Sector details show largely a tech-led rebound with IT +1.4% and Comm Services +1.7%," noted Tapas Strickland in NAB's morning note.
The tech heavy Nasdaq index was up 1.2% to 17,648, while the broader S&P 500 had a milder 0.5% rally to 5,599 points.
The local market, short on those volatile tech stocks, looks set to follow those more modest gains, with the ASX SPI 200 futures up 0.2% to 7,799.
But NAB's head of market economics, Stickland, warned there are some signs the recent falls might have much further to run.
"Worth noting in your scribe's view a WSJ article covering the Yale CEO Caucus where CEOs on the whole were concerned about Trump's policies, but were also reluctant to question policy openly," he observed.
"When asked how much the stock market would need to decline for them to speak out collectively, 44% said it would have to fall 20%. Another 22% said stocks would have to fall 30% before they would take a stand.
"The inference being the Trump put could be a lot lower than where some people think."
Maybe the bears are just out for a short stroll? Watch out Goldilocks!
Topic:Federal Government
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We acknowledge Aboriginal and Torres Strait Islander peoples as the First Australians and Traditional Custodians of the lands where we live, learn, and work.
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