Good Morning, Thomas King your Senior Research Analyst here with your First Look.
The Australian market looks set to open higher as Wall Street lift with investors betting Democrat candidate Hillary Clinton will win the US presidential election.
The SPI is trading up 26 points, at 5267.
Early voter turnout estimates are favouring Clinton to win the race for the White House.
Wall Street sees the former secretary of state as lending greater clarity and stability to the markets, while Republican candidate Donald Trump’s stance on foreign policy, trade and immigration is less certain.
Locally, in economic news on Wednesday, the Westpac/Melbourne Institute Survey of Consumer Sentiment is due out.
The local market will be watching for signs of who might win the US presidential election, but the results will not be known until late in the day, at the earliest.
In equities news, Commonwealth Bank, Flight Centre, Fortescue Metals, Seven West Media, Ramsay Health Care, Medibank Private, Clearview Wealth and Virtus Health hold their annual general meetings on Wednesday.
– The SPI is trading up 26 points, at 5267
– AUD +0.5% to 77.66 US cents
– On Wall St, Dow +0.4%, S&P +0.5%, Nasdaq +0.5%
– In New York, BHP +3.5%, Rio +1.5%
– In Europe, Stoxx 50 +0.5%, FTSE +0.5%, CAC +0.4%, DAX +0.2%
– Spot gold -0.2% to $US1278.54 an ounce
– Brent crude +0.2% to $US46.23 a barrel
– Hard coking coal at $US307.20 a tonne
– Iron ore +1.3% to $US68.30 a tonne
– LME aluminium +0.2% at $US1731 tonne
What’s on today
WBC-MI consumer confidence Nov