Contrary to headlines in some major news publications this morning, the Aussie market is poised to open sharply higher today.
The oil induced equity rout never eventuated overnight, and instead we have a strong positive lead from Wall Street where the Dow Jones closed at a nine-month high, buoyed by Hasbro and Disney.
The SPI futures contract is up 55 points, at 5182.
In local economic news today, the minutes of the Reserve Bank of Australia’s April meeting will be released while RBA governor Glenn Stevens is slated to speak at Credit Suisse 2016 Global Macro Conference in New York city.
The ANZ-Roy Morgan weekly consumer confidence survey is also due out.
In equities news, Arrium’s creditors meeting is on in Sydney.
Rio Tinto is slated to release its first quarter operations review, and Oil Search its March quarter results.
- SPI up 55 points at 5182
- AUD at US77.48 cents
- Dow Jones +0.59%, S&P500 +0.64%, Nasdaq +0.44%
- FTSE100 +0.15%, CAC +0.26%, DAX +0.68%
- Spot gold -0.17% at $US1232.00 an ounce
- Brent oil -0.08% at $US43.02 a barrel
- Iron ore -3.57% at $US60.36 a tonne