Good morning team, Chris Conway your Head of Research here with your First Look.
The Aussie market is poised to open a handful of points higher later this morning, after US markets finished little changed on Friday night.
SPI futures are up six points, at 5761.
The Dow Jones barely reached a seventh straight record high, while both the S&P 500 and Nasdaq again found records, boosted by gains in Kraft Heinz helped offset selling in energy stocks.
In local economic news today, the CoreLogic capital city house prices survey for the week just ended is due out.
In equities news, BlueScope Steel, Brambles, nib, oOh! Media, GWA Group and iSelect are slated to report results.
Today’s Agenda:
Corporate results: ARF, BPT, BSL, BXB, CNU NZ, CQR, CSV, GWA, IDR, NHF, OML, SYD, WOR
Local data: New Zealand – BNZ-BusinessNZ PSI (Jan), Producers Price Index
Overseas data: Japan trade balance January; Euro zone consumer confidence February; UK Rightmove house prices February; Fed’s Mester speaks
Key trades:
– SPI futures up 6 points or 0.1% to 5761
– AUD -0.4% to 76.67 US cents
– On Wall St, Dow flat, S&P 500 +0.2%, Nasdaq +0.4%
– In New York, BHP -1.7%; Rio -1.4%
– US markets are closed on Monday for Presidents Day
– In Europe, Stoxx 50 -0.1%, FTSE +0.3%, CAC-0.7%, DAX flat
– Spot gold -0.3% to $US1235.44 an ounce
– Brent crude +0.2% to $US55.77 a barrel
– Iron ore + 0.3% to $US90.37 a tonne
– LME aluminium -0.9% to $US1880 a tonne
– LME copper -0.7% to $US5960 a tonne
– 10-year bond yield: US 2.42%; Germany 0.30%, Australia 2.80%
What happened overnight?