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 extended gains overnight.
Stateside, the promise of tax cuts lifted Wall Street to fresh records, whilst commodities also firmed with iron ore topping US$74 per tonne.
What’s on today:
Local data: RBA releases minutes from its December board meeting
Overseas data: German IFO business climate December; US housing starts November, building permits November, current account balance third quarter
SPI futures up 28 points (+0.5%) to 6069
AUD +0.2% to 76.61 US cents
On Wall St: Dow +0.6%, S&P 500 +0.6%, Nasdaq +0.8%
In New York, BHP +1.7% Rio +2%
In Europe: Stoxx 50 +1.4%, FTSE +0.6%, CAC +1.3%, DAX +1.6%
Spot gold +0.5% to $US1262.41 an ounce
Brent crude -0.2% to $US63.10 a barrel
US oil -0.7% to $US56.92 a barrel
Iron ore +3.7% to $US74.15 a tonne
Dalian iron ore +2.1% to 535.5 yuan
Steam coal +0.3% to $US100.15, Met coal +0.0% to $US231.50
LME aluminium +0.4% to $US2074 a tonne
LME copper +0.3% $US6905 a tonne
10-year bond yield: US 2.39%, Germany 0.30%, Australia 2.53%
What happened overnight: