The Aussie market is poised to open higher later this morning following gains on Wall Street Friday night on the back of the latest US jobs market report.
The SPI is up 36 points at 5,121.
US data showed that non-farm payrolls increased by 242,000 jobs in February, but lower wages and hours kept a lid on inflation, a key factor as the Federal Reserve weighs when to next raise interest rates.
In local economic news today, the Australian Bureau of Statistics is set to release January’s overseas arrivals and departure figures.
The ANZ job advertisements series for February is also due out, as is the Australian Industry Group/Housing Industry Association performance of construction index (PCI) for the same month.
Meanwhile, the public hearing in House of Representatives standing committee inquiry into transport connectivity is running.
No major equities news is expected.
- SPI futures up 36pts or 0.7% at 5121
- AUD at 74.14 US cents, 84.49 Japanese yen, 67.41 Euro cents and 52.14 British pence
- On Wall St, Dow +0.4%, S&P +0.3%, Nasdaq +0.2%
- In Europe, Stoxx 50 +0.8%, FTSE +1.1%, CAC +0.9%, DAX +0.7%
- In London, BHP +9.1%, Rio +5.9%
- Iron ore surges 5% to $US53.75 per tonne
- Spot gold -0.4% to $US1258.95 on Friday in New York
- Brent crude up $1.65, or 4.5%, to $US38.72 in London
What’s on today
Local data: ANZ job ads, AIG PCI
Overseas data: China foreign reserves (Feb.), US labour market conditions index (Feb.), US consumer credit (Jan.), Euro area sentix investor confidence (March), German factory orders (Jan.)
Fed speakers: Stanley Fischer, Lael Brainard
BoJ’s Kuroda speaks
Stocks in focus
In London trading on Friday, BHP Billiton surged 9.12 per cent. Rio Tinto added 5.86 per cent. Glencore gained 11.9 per cent, Anglo American 11.1 per cent and Antofagasta 7.7 per cent.