Good morning team, Chris Conway your Chief Market and Trading Strategist here with your First Look.
SPI futures are pointing to a modest six-point gain on the open, despite US markets ending little changed overnight.
Earnings remain in focus for local investors: ACX, ING, AMC, SYD, BHP, CHC, GXL, NST, MND, WSA, SVW, OSH, NXT, SXY are on today’s schedule.
BHP is expected to release its results at about 8:30 am Melbourne time.
What’s on today:
No local data
Earnings scheduled: ACX, ING, AMC, SYD, BHP, CHC, GXL, NST, MND, WSA, SVW, OSH, NXT, SXY
Overseas data: China Conference Board leading index; Euro zone ZEW expectations August, German ZEW expectations August; US FHFA house prices June, Richmond Fed manufacturing August
SPI futures up six points, to 5686
AUD +0.1% to 79.37 US cents
On Wall St, Dow +0.1%, S&P 500 +0.1%, Nasdaq -0.1%
In New York, BHP +1.3%, Rio +1.3%
In Europe, Stoxx 50 -0.7%, FTSE -0.1%, CAC -0.5%, DAX -0.8%
Spot gold +0.7% to $US1292.76 an ounce
Brent crude -2.3% to $US51.50 a barrel
US oil -2.7% to $US47.18 a barrel
Iron ore to +2.6% to $US79.93 a tonne
Dalian iron ore +3.8% to 604 yuan
Steam coal +0.1% to $US98.35, Met coal +0.3% to $US193.75
LME aluminium +0.9% to $US2081 a tonne
LME copper +1.6% to $US6586 a tonne
10-year bond yield: US 2.18%, Germany 0.40%, Australia 2.63%
What happened overnight: