The Aussie market is poised to open higher later this morning following strong leads from Wall Street overnight as uncertainty eases after the US Federal Reserve raised its key interest rate for the first time in almost a decade.
The December SPI futures contract is up 49 points at 5,074.
As was widely expected, the Fed raised the range of its benchmark interest rate by a quarter of a percentage point to between 0.25 per cent and 0.50 per cent.
However it’s also indicated that any further rate rises were likely to be “gradual”, and dependent on the rate of inflation.
In local news today, the Reserve Bank releases its quarterly bulletin, containing its latest research.
And in the equities space, agribusiness Elders and explosives and fertiliser maker Incitec Pivot both hold their annual general meetings.
- SPI futures up 49pts at 5074
- AUD at 72.05 US cents
- On Wall St, late, S&P 500 +0.8%, Dow +1.1%, Nasdaq +1.2%
- In Europe, Stoxx 50 +0.2%, FTSE +0.7%, CAC +0.3%, DAX +0.2%
- In London, BHP +2.3%, Rio +1.1%
- Spot gold rose $US14.90 or 1.4% to $US1076.12/oz at 2.53pm NYC
- Brent crude fell $US1.32 or 3.4% to $US37.13/bbl at 2.27pm NYC
- Iron ore slipped 18 US cents to $US39.18 a dry metric ton
What’s on today
Australia population data, labour market data, finance and wealth data; New Zealand GDP; Germany IFO index; UK retail sales; US leading index, current account, jobless claims
Stocks in focus
Credit Suisse is looking at the airline sector for 2016 and has more than half of its airline share recommendations at “outperform”.