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 put in a mixed performance overnight.
Shares on Wall Street fluctuated overnight, and Apple retreated somewhat from its surge the previous session in what was seen as more profit taking. The Dow however edged higher, continuing to hold above the 22,000 mark.
What’s on today:
Local data: Retail sales June, RBA Statement on Monetary Policy
Overseas data: German factory orders June; US non-farm payrolls July, unemployment rate, average hourly earnings, Trade balance June
According to a Reuters survey of economists, US non-farm payrolls probably increased by 183,000 jobs last month after surging by 222,000 in June. The unemployment rate is seen falling one-tenth of a percentage point to 4.3 per cent.
SPI futures down 1 point to 5664
AUD -0.2% to 79.43 US cents
On Wall St, Dow flat, S&P 500 -0.2%, Nasdaq -0.4%
In New York, BHP -0.9%, Rio +0.4%
In Europe, Stoxx 50 +0.2%, FTSE +0.9%, CAC +0.5%, DAX -0.2%
Spot gold +0.1% to $US1268.43 an ounce
Brent crude -0.4% to $US52.17 a barrel
US oil -0.8% to $US49.21 a barrel
Iron ore +0.9% to $US72.93 a tonne
Dalian iron ore +1.3% to 550 yuan
Steam coal -0.5% to $US94.55, Met coal +3.3% to $US186.00
LME aluminium -0.5% to $US1916 a tonne
LME copper flat at $US6352 a tonne
10-year bond yield: US 2.22%, Germany 0.45%, Australia 2.66%
What happened overnight: