Good morning team, Chris Conway your Chief Market and Trading Strategist here with your First Look.
SPI futures are pointing to a 13-point gain on the open.
Shares on Wall Street steadied after their rout the previous session, bolstering the prospect of a positive local open. The Aussie dollar dipped 0.1 per cent.
Technology stocks helped stabilise the Dow with Microsoft, Apple, Intel and Cisco the top four gainers. Nike slid 7.1 per cent after its outlook missed expectations. Gains were mostly modest as nerves remain frayed ahead of tomorrow’s health care vote by US lawmakers.
Local data: RBNZ holds rates
Trading Ex-Div: CAR, FBU, WPP
Overseas data: German GfK consumer confidence; ECB economic bulletin; UK retail sales February; US intial jobless claims, US new home sales February, US Kansas City Fed manufacturing
Fed speakers: Yellen, Kashkari, Kaplan
SPI futures up 13 points, at 5682
AUD -0.1% to 76.77 US cents (Overnight range: 76.39 – 76.91)
On Wall St, Dow flat, S&P 500 +0.3%, Nasdaq +0.5%
In New York, BHP +0.3%, Rio +1.4%
In Europe, Stoxx 50 -0.3%, FTSE -0.7%, CAC -0.2%, DAX -0.5%
Spot gold +0.4% to $US1249.93 an ounce
Brent crude -0.6% to $US50.64 a barrel (overnight low 49.71)
Iron ore (Metal Bulletin) -3% to $US84.99 a tonne
Dalian iron ore -1% to 586 yuan a tonne
LME aluminium -0.3% to $US1922 a tonne
LME copper +0.6% to $US5808 a tonne
10-year bond yield: US 2.40%; Germany 0.40%; Australia 2.75%
What happened overnight: