AU Morning Wrap: Wall Street rallied as energy paused and rates rose; ASX opened higher

Tuesday's moves had all three U.S. indexes up at least 2.6% for the month so far, building on last week's gains. The $Dow Jones Industrial Average(.DJI.US)$ rose 254.47 points, or 0.7%, to close at 34807.46. The $S&P 500 Index(.SPX.US)$ climbed 50.43, or 1.1%, to 4511.61. The $Nasdaq Composite Index(.IXIC.US)$ closed at 14108.82, up 20.36, or 2.0%.

AU Market Watch
Australia's $S&P/ASX 200(.XJO.AU)$ is on track to extend its recent gains at the open after bank stocks helped US indexes rise. ASX futures are up by 0.4%, suggesting the local benchmark could add to yesterday's 0.9% gain. The ASX 200 has risen for seven of the past 10 sessions and is 4.1% higher so far in March. Shares of banks and other financial firms poised to benefit from higher long-term interest rates helped lift US indexes despite concerns about inflation.

Australia shares opened higher this morning. The $S&P/ASX 200(.XJO.AU)$ gained 0.48 per cent to 7377 as of 10:23 pm.

Stocks to Watch
New Zealand-based, ASX listed ventilator giant $Fisher & Paykel Healthcare Corp Ltd(FPH.AU)$ is predicting full-year revenues of between $1.65 billion and $1.7 billion, down from $1.97 billion in 2020-21

Outdoors and surfwear retailer $KMD Brands Ltd(KMD.AU)$ has swung to a $5 million loss for the first half of the financial year after shipping delays, factory closures and wetsuit shortages battered the New Zealand-based retailer.

Digital lender $Plenti Group Ltd(PLT.AU)$ has raised forecast for cash net profit after tax for the six months to March to $2.2 million, up from $1 million previously.

IPOs: $Pinnacle Minerals Ltd(PIM.AU)$ is set to make its debut at 12pm AEDT today. It focuses on exploring kaolin & kaolin-halloysite projects in WA & SA.

Ex-dividend Companies: $Seek Ltd(SEK.AU)$, $Myer Holdings Ltd(MYR.AU)$

Dividends Paid: $Sonic Healthcare Ltd(SHL.AU)$, $Woodside Petroleum Ltd(WPL.AU)$

Commodities
• Iron ore prices eased slightly.
• Oil struggled to sustain its Tuesday rally where prices hit highs of US$119 a barrel.
• Gold prices continued to chop as safe-haven demand remains muted amid buoyant equity and crypto markets.

Source: Dow Jones Newswires, Market Index