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 pop on the open this morning, after US markets ground higher on Friday night.
The S&P 500 clocked 2500 for the first time, as Apple recovered after its post-iPhone 8 mini-slump, whilst more broadly, traders dismissed somewhat disappointing US retail sales and industrial output data.
What’s on today:
Local data: New motor vehicle sales August
The RBA will release its latest meeting minutes on Tuesday, its chief economist Luci Ellis speaks in Sydney on Wednesday and governor Philip Lowe speaks in Perth on Thursday.
Overseas data: China property prices July; Euro zone CPI August; UK Rightmove house prices September; US NAHB housing market index September
SPI futures up 28 points (+0.5%) to 5720
AUD -0.1% to 80.01 US cents
On Wall St: Dow +0.3%, S&P 500 +0.2%, Nasdaq +0.3%
In New York, BHP -1.8% Rio -0.7%
In Europe: Stoxx 50 -0.3%, FTSE -1.1%, CAC -0.2%, DAX -0.2%
Spot gold -0.7% to $US1320.76 an ounce
Brent crude +0.1% to $US55.54 a barrel
US oil flat at $US49.87 a barrel
Iron ore -2.5% to $US72.13 a tonne
Dalian iron ore -2% to 500 yuan
LME aluminium -0.6% to $US2085 a tonne
LME copper +0.1% to $US6508 a tonne
10-year bond yield: US 2.20%, Germany 0.43%, Australia 2.74%
What happened overnight: