The Australian market is poised to open higher later this morning, after Wall Street extended gains overnight.
The June SPI futures contract is up 29 points, at 5860.
In the US, the Nasdaq index smashed its 15-year-old record, breaking through the old mark set at the peak of the dot-com boom in 2000.
In local equity news today, trans-Tasman newspaper publisher and radio group APN News Media holds its annual general meeting, and sleep disorder specialist Resmed releases its third quarter earnings.
– SPI futures up 29pts to 586
– AUD at 77.80 US cents, 93.02 Japanese yen, 71.86 Euro cents and 51.65 British pence
– On Wall St, S&P 500 +0.2%, Dow +0.1%, Nasdaq +0.4%
– In Europe, Stoxx 50 -0.7%, FTSE +0.4%, CAC -0.6%, Dax -1.2%
– Spot gold up $US7.55, or 0.6% to $US1194.68 an ounce
– Brent crude adds $US2.13 or 3.4% to $US64.86 a barrel
– Iron ore jumps 1.4% to $US54.82 a ton
What’s on today:
Japan all industries activity; German IFO business climate; Eurogroup meetings; US durable goods orders
Stocks to watch:
Deutsche Bank retains a “hold” on Independence Group and a $5.30 price target.
On valuation grounds and current AUD gold prices, Hartleys is maintaining a “speculative buy” recommendation on Silver Lake Resources, with an updated price target of 52¢ a share (down from 55¢).
UBS has a “sell” recommendation on Medibank Private and a price target of $2 a share.