Good morning team, Chris Conway your Chief Market and Trading Strategist here with your First Look.
The Australian market is poised to open slightly higher later this morning, following gains on Wall Street gains after US inflation and retails data surprised on the upside.
SPI futures are up five pionts, at 5764.
In the US, retail sales rose more than expected in January as households bought electronics and a range of other goods, pointing to sustained domestic demand that should bolster economic growth in the first quarter.
US consumer prices recorded their biggest increase in nearly four years while manufacturing output is rising steadily.
In local economic news today, the Australian Bureau of Statistics releases January labour force data.
In equities news, Telstra, Origin Energy, Tatts Group, Evolution Mining, Star Entertainment Group and Sydney Airport are among the companies slated to post results.
What’s on today?
Corporate results: BAP, EVN, GMG, HFA, IAG, MFG, ORG, S32, SGR, SPK NZ, SYD, TLS, TTS
Local data: RBA’s Ellis speaks, MI consumer inflation expectations February, Labour force data January
Overseas data: ECB account of latest policy meeting; US housing starts January, Building permits January, Philadelphia Fed February
- SPI up 5 points at 5764
- AUD at US76.97¢
- Dow Jones +0.4%; S&P500 +0.3%; Nasdaq +0.4%
- FTSE100 +0.5%, CAC +0.6%, DAX +0.2%
- Spot gold +0.2% at $US1231.22 an ounce
- Brent oil -0.3% at $US55.80 a barrel
- Iron ore -0.7% at $US91.05 a tonne
What happened overnight?