Good morning team, Chris Conway your Chief Market and Trading Strategist here with your First Look.
SPI futures are pointing to a flat start later this morning, with US markets little changed overnight.
Oil rallied on a positive outlook on the global crude surplus and the Trump reflation trade.
What’s on today:
Local data: MI inflation expectations September, Labour force August; NZ consumer confidence September
Overseas data: China retail sales August, Industrial production July, Fixed asset investment July; Japan industrial production July; UK retail sales August, Bank of England policy meeting; US August CPI
SPI futures up 1 points to 5747
AUD -0.4% to 79.83 US cents
On Wall St: Dow +0.2%, S&P 500 +0.1%, Nasdaq +0.1%
In Europe: Stoxx 50 +0.3%, FTSE -0.3%, CAC +0.2%, DAX +0.2%
Spot gold -0.6% to $US1324.13 an ounce
Brent crude +1.6% to $US55.12 a barrel
US oil +2.2% to $US49.29 a barrel
Iron ore + 19 US cents to $US76.56 a tonne
Dalian iron ore -2% to 531 yuan
Steam coal +0.6% to $US100.30, Met coal +0.0% to $US206.00
LME aluminium -1.3% to $US2110 a tonne
LME copper -1.9% to $US6543 a tonne
10-year bond yield: US 2.19%, Germany 0.40%, Australia 2.67%
What happened overnight: