ASX 200 to rise, Arcadium and Goodman Group to report earnings, Perpetual to be broken up

OVERNIGHT MARKETS

• Dow logs fifth straight gain for longest win streak since December
• European stocks close over 1% higher; UBS soars
• 10-year Treasury yield falls as investors consider Fed policy path
• Oil prices little changed as U.S. moves to replenish reserve, Gaza cease-fire still uncertain
• Gold slips as traders eye Fed rate-cut path
• Stocks and commodities haven’t moved in lockstep like this since 1980

INTERNATIONAL STOCKS

• Rivian’s stock falls after EV maker posts wider-than-expected quarterly loss
• Reddit shares soar 14% on Q1 revenue beat and narrower-than-expected loss
• Disney earnings send stock sliding almost 10% to its worst day since 2022
• Lyft puts up another quarter of positive free cash flow, following jump in rides
• Astera Labs’ blowout first earnings report is met with a sagging stock reaction

CENTRAL BANKS

• Fed’s Kashkari doesn’t rule out a rate hike
• RBA leaves cash rate unchanged at 4.35%, as expected, but expresses concern over price risks
• BoE expected to keep rates on hold for ninth month running amid splits on the MPC

ECONOMY

• US consumers pull back sharply on credit-card use in March
• German factory orders unexpectedly dropped in sign of enduring weakness, exports rebound
• DIHK says German exports expected to stagnate this year, following a 1.8% decline in 2023
• Japan April services growth at eight-month high on solid demand
• Surveys show UK retail sales hit by bad weather and timing of Easter, softening demand
• Global trade growth set to more than double in 2024 after last year's slump
• Global policymakers imposing new taxes on EV as $110B fuel duty shortfall looms

ASX TODAY

• As mentioned, Arcadium Lithium (ASX: LTM), Goodman Group (ASX: GMG), and Virgin Money UK (ASX: VUK) are all due to hand down earnings.
• GPT Group (ASX: GPT) and Smartgroup (ASX: SIQ) are due to hold AGMs.
• ResMed is trading ex-dividend.
• We're almost done with the Big Bank earnings season. Commonwealth Bank hands down its Q3 trading update tomorrow, and it too is likely to report a fall in cash profits.