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, after US markets closed little changed overnight.
The Dow Jones managed to eke out a third consecutive gain, but the broader market ended lower.
Today’s local session will bring a fresh wave of company reports, which will play a major part in setting the tone of today’s session.
What’s on today:
Local data: WBC leading index July, Wage price index second quarter
Earnings expected: CBA, CPU, CSL, DXS, FXJ, HFA, ILU, IVC, ORG, PGH, RMD, SEK, SGP, SHL, SUN, SWM, VCX, WFD, WPL
Overseas data: Euro zone second quarter GDP; UK July jobless claims, ILO unemployment rate; US July housing starts, July building permits, Release of minutes from the Fed’s July 26th policy meeting
SPI futures up three points to 5707
AUD -0.4% to 78.21 US cents
On Wall St, Dow flat, S&P 500 -0.1%, Nasdaq -0.1%
In New York, BHP -1%, Rio -1.2%
In Europe, Stoxx 50 +0.3%, FTSE +0.4%, CAC +0.4%, DAX +0.1%
Spot gold -0.7% to $US1272.90 an ounce
Brent crude +0.2% to $US50.82 a barrel
Iron ore -1.4% to $US73.68 a tonne
Dalian iron ore -0.2% to 525 yuan
LME aluminium +1.3% to $US2049 a tonne
LME copper -0.3% to $US6379 a tonne
10-year bond yield: US 2.26%; Germany 0.43%; Australia 2.64%
What happened overnight: