|Good morning team, Chris Conway your Chief Market and Trading Strategist here with your First Look.
SPI futures are pointing to a circa 20-point slump on the open, after US markets pulled back overnight.
Concerns about tax reform in the US scuttled markets, which suffered their biggest loss in around two weeks.
At one point, the Dow was down approximately 250 points, but those losses were pared into the close.
What’s on today:
Local data: RBA Statement of Monetary Policy
Overseas data: US Consumer sentiment November
SPI futures down 22 points (-0.4%) to 6021 points
AUD +0.04% to US76.83¢
On Wall St: Dow Jones -0.6%, S&P 500 -0.7%, Nasdaq -1%
In Europe: Stoxx 50 -1.2%, FTSE 100 – 0.6%, CAC 40 -1.2%, DAX -1.5%
Spot gold +0.4% to $US1286.75 an ounce
Brent crude +0.8% to $US63.97 a barrel
Iron ore +0.1% to $US62.32 a tonne
LME aluminium -0.8% to $US2,093 a tonne
LME copper -0.7% to $US6,808 a tonne
What happened overnight: