Good morning team, Chris Conway your Chief Market and Trading Strategist here with your First Look.
SPI future are pointing to a circa 20-point pop on the open this morning, after US markets moved higher overnight and oil firmed.
More strong results on Wall Street and further gains for tech shares boosted US indices in the overnight session.
What’s on today:
Local data: AiG performance of manufacturing October, CoreLogic house prices October; NZ UE rate third quarter, Private wages third quarter
Overseas data: China Caixin manufacturing PMI October; Japan Nikkei manufacturing PMI October; UK Markit manufacturing PMI October; US ADP employment change October, Markit manufacturing PMI October, ISM manufacturing October, Construction spending September, FOMC statement
SPI futures up 22 points (+0.4%) to 5912
AUD -0.4% to 76.55 US cents
On Wall St: Dow +0.1%, S&P 500 +0.1%, Nasdaq +0.4%
In New York, BHP +0.5% Rio +1.3%
In Europe: Stoxx 50 +0.3%, FTSE +0.1%, CAC +0.2%, DAX +0.1%
Spot gold -0.4% to $US1270.87 an ounce
Brent crude +0.7% to $US61.35 a barrel
US oil +0.7% to $US54.54 a barrel
Iron ore slips 23 US cents to $US58.52 a tonne
Dalian iron ore +0.9% to 430 yuan
Steam coal +0.5% to $US99.90, Met coal -4.6% to $US173.50
LME aluminium -0.1% to $US2160 a tonne
LME copper -0.4% to $US6839 a tonne
10-year bond yield: US 2.37%, Germany 0.36%, Australia 2.67%
What happened overnight: