Good morning team, Chris Conway your Chief Market and Trading Strategist here with your First Look.
SPI futures are pointing to a circa 20-point slide on the open this morning, after US markets pulled back overnight.
Wall Street racked up losses as traders wait for the Republican controlled Congress to hold votes and pass their tax-cut bill.
Commodities were mixed; gold and iron ore slipped, whilst oil added 0.5%.
What’s on today:
Local data: WBC leading index November, Skilled vacancies November
Overseas data: US existing home sales November
SPI futures down 20 points (-0.4%) to 6057
AUD flat at 76.63 US cents
On Wall St: Dow -0.3%, S&P 500 -0.3%, Nasdaq -0.4%
In New York, BHP -1.1% Rio -0.8%
In Europe: Stoxx 50 -0.8%, FTSE +0.1%, CAC -0.7%, DAX -0.7%
Spot gold -0.1% to $US1260.92 an ounce
Brent crude +0.5% to $US63.70 a barrel
US oil +0.5% to $US57.47 a barrel
Iron ore slips 22 US cents to $US73.93 a tonne
Dalian iron ore -0.4% to 531 yuan
LME aluminium +1.2% to $US2099 a tonne
LME copper +0.5% to $US6942 a tonne
10-year bond yield: US 2.45%, Germany 0.37%, Australia 2.57%
What happened overnight: