Good morning team, Chris Conway your Chief Market and Trading Strategist here with your First Look.
SPI futures are pointing to a 10-point gain on the open this morning, after US markets – and tech stocks in particular – rebounded overnight.
Wall Street shook of its tech sector jitters overnight and the Dow Jones hit an all-time high ahead of an expected Federal Reserve interest rate hike.
Oil rebounded after dipping below $US46 a barrel as estimates that US supplies declined distracted investors from higher OPEC production.
The Dow Jones set a new intraday high overnight and the S&P 500 Index rose to within inches of a record, while the Nasdaq 100 Index bounced back from its biggest two-day drop since September.
What’s on today:
Local data: Westpac Consumer Sentiment
Overseas data: Chinese industrial production, German CPI, UK Unemployment rate, US CPI, US Retail sales
SPI futures +0.2%, 10 points, to 5792 points
AUD -0.04% to US75.38¢
On Wall St, Dow Jones +0.4%, S&P500 +0.4%, Nasdaq +0.8%
In Europe, Stoxx 50 +0.4%, FTSE100 -0.2%, CAC40 +0.4%, DAX +0.6%
Spot gold +0.7% to $US1266.72 an ounce
Brent crude +1.03% to $US48.79 a barrel
Iron ore -2.8% to $US53.36 a tonne
What happened overnight: