The Aussie market will open higher later this morning, following a solid night of gains on Wall Street.
Energy shares surged amid ongoing strength in oil prices, whilst traders scooped up equities at the start of earnings season.
The SPI futures are up 39 points, 4990.
In local economic news today, the Australian Bureau of Statistics releases February’s lending finance data and the Westpac/Melbourne Institute Survey of Consumer Sentiment is also due out.
In equities news, Fortescue Metals is slated to release its March quarter production report.
advanced on a report that Saudi Arabia and Russia have agreed on an output freeze.
- SPI futures +39 to 4990 at 8:00 am Sydney time
- AUD +1.1% to 76.79 US cents, 83.41 Japanese yen, 67.48 Euro cents and 53.88 British pence
- On Wall St, Dow +0.9%, S&P 500 +1%, Nasdaq +0.8%
- In Europe, Stoxx 50 +0.6%, FTSE +0.7%, CAC +0.8%, DAX +0.8%
- In London, Anglo American +9.2%, Glencore +5%, BHP +3.9%, Rio +2.8%
- Spot gold flat at $US1257.52 at 2.12pm in New York
- Brent crude +3.8% to $US44.46 at 1.48pm New York time
- Iron ore +4.6% to $US59.22
What’s on today:
Local data: WBC consumer confidence (April) at 10.30am
The International Monetary Fund releases its Fiscal Monitor report on the latest developments in public finance. IMF Head of Fiscal Affairs Vitor Gaspar will hold a press briefing in Washington at 09:30.
Overseas data: China trade balance (March); Japan producer prices March; Euro area industrial production (Feb); Bank of England credit conditions, bank liabilities; Sweden revised budget; OPEC monthly oil market report; US retail sales (March), Fed Beige Book, US producer prices (March), US business inventories (Feb); Bank of Canada rate decision.
Grant’s Spring 2016 Conference is held in New York City. Keynote speakers include JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon and Scott Bessent, CEO and chief investment officer of Key Square Capital Management. Starts at 08:55 in New York.
Overseas earnings: JPMorgan, Tesco