Rally to continue as many think the market hit its low
Update: 2025-03-24
Description
US stocks rallied overnight, with the Nasdaq-100 up 2.2%. Tesla led the market, jumping 12%, lifting the 'magnificent seven' stocks higher. Locally, we expect a boost for the ASX today. We could see this rally extend over the next week. But there's two events to be cautious about, the US tariff imposition deadline on April 2, and tonight's Australian budget where economic growth could be downgraded.
Securities mentioned: Tesla, Nvidia, Gold Road Resources, Gold Fields, Roundhill Magnificent Seven ETF
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