Good morning team, Chris Conway your Head of Research here with your First Look.
The Aussie market is poised to open higher later this morning, despite further falls on Wall Street overnight.
Commodities are expected to provide support, as base metals rebounded in London.
Copper touched a two-month high on concern over potential supply disruptions in Chile and a weakening dollar. Aluminium, zinc, lead, nickel and tin all advanced too. As did gold and oil.
Stateside, earnings misses hurt sentiment.
The SPI futures are pointing to a 20-point pop on the open, to 5575.
- SPI up 20 points at 5575
- AUD at US75.79¢
- Dow Jones -0.8%; S&P500 -0.4%; Nasdaq -0.5%
- FTSE100 -0.3%, CAC -0.8%, DAX -1.3%
- Spot gold +1.4% at $US1212.48 an ounce
- Brent oil +1.1% at $US55.83 a barrel
- Iron ore flat at $US83.34 a tonne
Local data: AiG Performance of Mfg Index Jan, CoreLogic House Prices Jan; NZ Employment Q4, Unemployment Rate Q4
Overseas data: US ADP Employment Jan, Markit Mfg Index Jan Final, ISM Mfg Index Jan, Construction Spending Dec, Federal Reserve policy statement
Corporate news: AIA NZ December 2016 Sales and Revenue Release – Traffic Update; GUD – Half Results
What happened overnight?