S&P/ASX 200 (INDEXASX:XJO) (ASX:XJO) futures are up 0.65% this morning after US markets bounced amid rising confidence for central bank stimulus.
The S&P 500 Index (INDEXSP:.INX) closed at 3,090.23 +136.01 (4.60%) and the Nasdaq Composite (INDEXNASDAQ: .IXIC) closed at 8,952.16 +384.80 (4.49%).
Stocks rose sharply at the close after a volatile day of trading. The Dow gained more than 1,100 points, or 5%, and the S&P 500 and Nasdaq both rose more than 4%. https://t.co/9N2VoIP60P pic.twitter.com/9AnT5qMjEi— CNBC (@CNBC) March 2, 2020
Gold remained flat at around US$1,588 per ounce, still down US$100 from its recent high of US$1,690 per ounce.
Crude Oil WTI was had a very healthy 5.8% bounce up to US$47.37 per barrel.
The AUD is just above its 10-year lows versus the USD trading at 65.3 cents with a 25 basis point rate cut today around 80% priced in.
A rate cut could put more margin pressure on financials such as banks, investors will be watching to see how much of this presumed rate cut is passed on to customers.