Good morning, Chris Conway your Chief Market and Trading Strategist here with your First Look.
SPI futures are pointing to a 22-point pullback on the open, after US markets finished slightly weaker overnight.
Gains in commodities should provide some support however, with The US listed shares of BHP and Rio more than 2% per cent higher in afternoon trade in New York.
Base metals were stronger; copper and aluminium gained in London trade. Gold and oil also firmed.
What’s on today:
Local data: NZ third quarter GDP
Overseas data: Bank of Japan policy meeting; US third quarter GDP, Philadelphia Fed business December, Chicago Fed national activity November, Leading index November, FHFA house prices October
SPI futures down 22 points (-0.3%) to 6057
AUD flat at 76.73 US cents
On Wall St: Dow -0.1%, S&P 500 +0.1%, Nasdaq flat
In New York, BHP 2.2% Rio 2.3%
In Europe: Stoxx 50 -0.8%, FTSE -0.3%, CAC -0.6%, DAX -1.1%
Spot gold +0.4% to $US1266.83 an ounce
Brent crude +0.8% to $US64.30 a barrel
US oil +0.7% to $US57.98 a barrel
Iron ore -1.5% to $US72.84 a tonne
Dalian iron ore +0.4% to 529 yuan
LME aluminium +1.1% to $US2122 a tonne
LME copper +1.5%
10-year bond yield: US 2.49%, Germany 0.4%, Australia 2.63%
What happened overnight: