US markets closed modestly higher on Tuesday, with the S&P 500 posting its third consecutive gain. The index rose 0.16% to finish at 5,776.65, while the Nasdaq climbed 0.46% and the Dow inched up just 4 points.
Apple helped lead gains in the US tech sector, while Nvidia underperformed slightly.
Investor sentiment remained cautious after fresh consumer confidence data showed a notable drop in expectations. The Conference Board’s confidence index fell to 92.9 in March—its lowest level since July 2022—adding to a string of soft economic signals. The outlook component plunged to 65.2, a reading well below the recession-warning threshold of 80.
Despite the weaker data, Wall Street found some relief in tariff headlines. President Trump said this week that some countries may be exempt from the reciprocal tariffs set to begin on 2 April, though duties on pharmaceuticals and autos are still expected “in the near future.”
Commodities and the dollar
Brent crude is trading 0.23% higher at US$73.17 a barrel.
Spot gold is trading 0.31% higher at US$3,020.23 an ounce.
One Australian dollar is buying 63.01 US cents.
Australia looks to inflation update
The positive finish on Wall Street is expected to support Australian shares at the open, with the SPI futures pointing to a 47 point rise.
Locally, attention turns to inflation, with the monthly CPI indicator due at 11.30am. NAB expects the February reading to come in at 2.4% year-on-year, down from 2.5%. Lower fuel prices are likely to contribute to the decline, though volatile travel and energy prices could affect the result. The trimmed mean is forecast to fall slightly to 2.7%.
