|Good morning team, Chris Conway your Chief Market and Trading Strategist here with your First Look.
SPI futures are pointing to a circa 30-point gain on the open this morning, after US markets continued their recent rally on Friday night.
Commodities were mainly stronger, with gold and oil adding more than 1% each, whilst iron ore slipped 1.3%.
What’s on today:
Local data: MI inflation gauge December
Overseas data: Euro zone trade balance November
SPI futures up 31 points (-0.5%) to 6049
AUD +0.3% to 79.17 US cents
US markets will be closed Monday for the Martin Luther King Jr holiday
On Wall St: Dow +0.9%, S&P 500 +0.7%, Nasdaq +0.7%
In New York, BHP +2.1% Rio +0.8%
In Europe: Stoxx 50 +0.5%, FTSE +0.2%, CAC +0.5%, DAX +0.3%
Spot gold +1.2% to $US1337.64 an ounce
Brent crude +0.9% to $US69.89 a barrel
US oil +1.1% to $US64.48 a barrel
Iron ore -1.3% to $US78.05 a tonne
Dalian iron ore -1.3% to 540.5 yuan
LME aluminium +1.8% to $US2214 a tonne
LME copper -0.4% to $US7109 a tonne
10-year bond yield: US 2.55%, Germany 0.57%, Australia 2.75%
What happened overnight:
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