Good morning team, Chris Conway your Chief Market and Trading Strategist here with your First Look.
SPI futures are pointing to a modest, five point gain on the open, with US markets down slightly heading into the close.
The big news overnight was purchase of a large part of Rupert Murdoch’s 21st Century Fox, for US$52.4 billion.
The deal includes film and television studios, cable and international TV businesses as Disney tries to meet competition from technology companies in the entertainment business.
What’s on today:
Local data: BusinessNZ manufacturing PMI October
Overseas data: China property prices November; Japan Tankan large manufacturing index fourth quarter; Euro zone trade balance October; US Empire manufacturing December, industrial production November
SPI futures up five points (+0.1%) to 6018
AUD +0.5 to 76.75 US cents
On Wall St: Dow -0.1%, S&P 500 -0.1%, Nasdaq -0.1%
In New York, BHP +0.8% Rio -0.4%
In Europe: Stoxx 50 -0.7%, FTSE -0.7%, CAC -0.8%, DAX -0.4%
Spot gold flat at $US1255.86 an ounce
Brent crude +0.5% to $US62.77 a barrel
US oil +0.3% to $US56.79 a barrel
Iron ore -0.9% to $US69.94 a tonne
Dalian iron ore -0.9% to 496.5 yuan
LME aluminium +2% to $US205 a tonne
LME copper +1% to $US6793 a tonne
10-year bond yield: US 2.35%, Germany 0.30%, Australia 2.55%
What happened overnight: