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AU Morning Wrap: ASX Shares Rise; Treasury Wine Gains

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Moomoo News AU wrote a column · Mar 13 07:43
G'day, mooers! Check out the latest news on today's stock market!
• S&P 500 ends at new all-time high
• ASX shares rise; Treasury Wine gains
• Stocks to watch: Liontown Resources, Treasury Wines, Core Lithium
AU Morning Wrap: ASX Shares Rise; Treasury Wine Gains
Wall Street Summary
On Tuesday, the stock market experienced a surge in prices following the release of U.S. inflation data that was largely in line with expectations. This news gave investors the green light to invest in high-performing tech companies like Nvidia and Meta Platforms.
The $Dow Jones Industrial Average (.DJI.US)$ closed at 39,005.49, up 0.61%, while the $S&P 500 Index (.SPX.US)$ reached a new record high of 5,175.27, increasing 1.12% since the previous session on March 7. The $Nasdaq Composite Index (.IXIC.US)$ also rose by 1.54%, closing at 16,265.64.
AU Market Watch
The Australian stock market is expected to open with gains, following the upward momentum in New York where traders have increased their expectations for a rate cut in June.
Stocks to Watch
Shares of $Liontown Resources Ltd (LTR.AU)$ rose by 10% to reach $1.44 following its announcement of securing a $550 million debt funding facility with major banks, including Commonwealth Bank and National Australia Bank. Meanwhile,
$Treasury Wine Estates Ltd (TWE.AU)$ CEO, Tim Ford, expressed his optimism about the potential removal of Chinese tariffs on Australian wines, following the Chinese Ministry of Commerce's draft intention to do so.
$Core Lithium Ltd (CXO.AU)$'s Gareth Manderson and another independent director have resigned as the miner continues to suffer losses and impairments, with the prospects of a restart for its Northern Territory mine appearing bleak.
Listing: None
Economic Calendar (AEDT):
6:00 pm: UK GDP (Jan)
Source: Dow Jones Newswires, AFR
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