AU Morning Wrap: U.S. stocks closed higher following a choppy session; ASX opened higher

Wall Street Summary
US stocks shrugged off a possible recession signal from the bond market amid tentative optimism about the resumption of Russia-Ukraine ceasefire negotiations and as a retreat in energy prices once again soothed inflation worries.

The $S&P 500 Index (.SPX.US)$ overcame mid-session weakness to finish with a gain of 32 points or 0.71 per cent. The $Nasdaq Composite Index (.IXIC.US)$ put on 186 points or 1.31 per cent. The $Dow Jones Industrial Average (.DJI.US)$, last of the three major indices to turn positive, trailled with a rise of 95 points or 0.27 per cent.

AU Market Watch
Australia's $S&P/ASX 200 (.XJO.AU)$ is poised to open higher following a positive lead by US stocks. ASX futures are up by 0.55%, suggesting the benchmark index could be on course for a sixth consecutive gain. That would be its longest winning streak since late December. Gains of energy, materials, financial and tech stocks have pushed the ASX 200 up 5.15% so far in March, which is shaping up as its strongest month since November 2020.

Australia shares opened higher this morning. The $S&P/ASX 200 (.XJO.AU)$ gained 0.59 per cent to 7456 as of 10:34 pm.

Stocks to Watch
$Uniti Group Ltd (UWL.AU)$: Uniti Group has received a revised indicative proposal from a consortium comprising HRL Morrison & Co and Brookfield Infrastructure to acquire Uniti for cash consideration of $5 per share, via a scheme of arrangement.

$Crown Resorts Ltd (CWN.AU)$: Blackstone has received confirmation from the Foreign Investment Review Board (FIRB) that the Commonwealth government has no objection to its proposed acquisition of Crown.

Ex-dividend Companies: $Southern Cross Electrical Engineering Ltd (SXE.AU)$

Dividends Paid Companies: $Northern Star Resources Ltd (NST.AU)$, $Australian Pharmaceutical Industries Ltd (API.AU)$, $BlueScope Steel Ltd (BSL.AU)$, $Grange Resources Ltd (GRR.AU)$

Commodities
• Iron ore prices were mostly unchanged.
• Oil prices sharply as ceasefire talks takes some heat out of the market.
• Gold is down almost -2% as investors continue to return to risk-assets.

Source: Dow Jones Newswires, Market Index