Good morning team, Chris Conway your Chief Market and Trading Strategist here with your First Look.
SPI futures are pointing to a circa 15-point gain on the open this morning, after US markets pushed higher overnight.
Commodities rallied overnight, lifting the US listed shares of both BHP and Rio.
Iron ore stacked on 3.7%, aluminium climbed 1.4% and copper added 0.3%.
For August, copper jumped 6.6%. Brent oil put on 3%.
What’s on today:
Local data: AiG performance of manufacturing August, CoreLogic house prices August; NZ terms of trade second quarter
Overseas data: China Caixin manufacturing PMI August; Japan capital spending second quarter, Nikkei manufacturing PMI August; Euro zone Markit manufaturing PMI August; UK Markit manufacturing PMI; US nonfarm payrolls August, Markit manufacturing PMI August, ISM manufacturing August, University of Michigan consumer sentiment August, Construction spending July
SPI futures up 15 points (+0.3%) to 5703
AUD up 0.6% to 79.48 US cents
On Wall St, Dow +0.3%, S&P 500 +0.6%, Nasdaq +1%
In New York, BHP +1.6%, Rio +2.4%
In Europe, Stoxx 50 +0.5%, FTSE +0.9%, CAC +0.6%, DAX +0.4%
Spot gold +1% to $US1321.92 an ounce
Brent crude +3% to $US52.38 a barrel
US oil +2.5% to $US47.11 a barrel
Iron ore +3.7% to $US78.91 a tonne
Dalian iron ore +3% to 576 yuan
Steam coal -2.2% to $US95.30, Met coal +0.5% to $US207.00
LME aluminium +1.4% to $US2117 a tonne
LME copper +0.3% to $US6788 a tonne
10-year bond yield: US 2.12%, Germany 0.36%, Australia 2.71%
What happened overnight: