Good morning team, Chris Conway your Chief Market and Trading Strategist here with your First Look.
SPI futures are pointing to a circa 30-point pop on the open, after US markets rallied overnight.
It was a rebound in tech stocks which powered the move on Wall Street overnight, coupled with easing concerns about the political chaos in Washington and tensions between the US and North Korea.
What’s on today:
Local data: Skilled vacancies July
Earnings on the schedule: APA, CCA, HSO, IAG, ASL, ISD, QUB, SGR, VOC, WOR, WOW
Overseas data: Euro zone Markit manufacturing PMI August, Markit services PMI August, Consumer confidence August; US Markit manufacturing PMI August, Markit services PMI August, New home sales July
SPI futures up 30 points (+0.5%) to 5737
AUD -0.4% to 79.11 US cents
On Wall St, Dow 0.9%, S&P 500 +1%, Nasdaq +1.4%
In New York, BHP +1.2%, Rio +2.1%
In Europe, Stoxx 50 +0.9%, FTSE +0.9%, CAC +0.9%, DAX +1.4%
Spot gold -0.5% to $US1285.52 an ounce
Brent crude +0.4% to $US51.87 a barrel
Iron ore -0.4% to $US79.65 a tonne
Dalian iron ore -4.3% to 576 yuan
LME aluminium -0.3% to $US2075 a tonne
LME copper -0.1% to $US6580 a tonne
10-year bond yield: US 2.21%, Germany 0.40%, Australia 2.64%
What happened overnight: