Good morning team, Chris Conway your Chief Market and Trading Strategist here with your First Look.
SPI futures are pointing to a 35-point pop on the open this morning after US markets rallied overnight, extending the gains from yesterday’s Asian session.
With Hurricane Irma weakening significantly and concerns surrounding North Korea waning, it was risk-on mode in the overnight session.
The S&P 500 Index jumped the most since April to close at its first record in a month and the Dow Jones Industrial Average topped 22,000.
What’s on today:
Local data: NAB business survey May, business conditions, business confidence
Overseas data: UK August CPI and PPI, House price index July; US NFIB small business optimism August
SPI futures up 35 points (+0.5%) to 5740
AUD -0.4% to 80.28 US cents
On Wall St: Dow +1.2%, S&P 500 +1.1%, Nasdaq +1.1%
In New York, BHP +1.7%, Rio +2%
In Europe: Stoxx 50 +1.4%, FTSE +0.5%, CAC +1.2%, DAX +1.4%
Spot gold -1.2% to $US1330.77 an ounce
Brent crude -0.1% to $US53.75 a barrel
US oil +1.1% to $US48.02 a barrel
Iron ore +0.2% to $US74.49 a tonne
Dalian iron ore +1.9% to 540 yuan
Steam coal +1.1% to $US99.55, Met coal +0.0% to $US200.00
LME aluminium +1.1% to $US2122 a tonne
LME copper +0.8% to $US6748 a tonne
10-year bond yield: US 2.12%, Germany 0.33%, Australia 2.60%
What happened overnight: