US home builders led the advance on Wall Street after data revealed housing starts surged in September to their highest in four years. Keeping gains in check, however, was a pair of disappointing earnings results from tech giants, IBM and Intel.
The Dow added five points, closing at 13557, whilst the Nasdaq (+0.1%) and S&P500 (+0.4%) posted slightly better gains. The key European indices continued to strengthen. The FTSE put on 0.7%, the German DAX climbed 0.3% and the French CAC advanced 0.8.
It was another night of gains on commodity markets. Gold found support from a weaker US dollar, up 0.4% to US$1753 an ounce. Oil moved up to US$92.12 a barrel despite the latest supply report revealing another increase in weekly crude stockpiles.
In the currency space, the euro hit a four week high against the greenback amid hopes a resolution to Spain’s financial woes is near. Elsewhere, the appetite for risk saw the Aussie dollar surge up to US$1.0383.
In local economic news, the NAB Quarterly Business Confidence Survey is scheduled for release at 11:30am, AEDT. Around the region, a slate of Chinese data is due out at 1:00pm, AEDT, with the key focus being the third quarter GDP figures.