Good morning team, Chris Conway your Head of Research here with your First Look.
The Aussie market will open higher later this morning, with US markets stronger heading into the close.
It has been another record night on Wall Street and that should prompt Australian shares to rally, though a barrage of company reporting is likely to influence sentiment.
The likes of Blackmores, Coca-Cola Amatil, Woodside Petroleum, Woolworths, Fortescue Metals and Westfield are all slated to provide earnings updates.
SPI futures are up 27 points (+0.5%) at 5766.
Oil traded near $US54 a barrel after earlier rising to the highest level in seven weeks as OPEC’s top official said the group intends to achieve full compliance with supply cuts.
Iron ore, Australia’s largest export, bumped up another 2.7 per cent fuelled by improving Chinese growth sentiment.
What’s on today?
Corporate results: BKL, CCL, WPL, WOW, FMG, WFD, IAG, SGP, FXJ, APA, SRX, FBU, PGH, QUB, IFN, WTC, BGA, TRS, HSO, VOC, MMS, RSG, WSA, APO, SKT, APN
RBA Governor Lowe speaks
Wage price index
Construction work done
FOMC Member speaks
UK Second GDP estimate
- SPI up 27 points at 5766
- AUD at US76.78¢
- Dow Jones +0.4%; S&P500 +0.4%; Nasdaq +0.2%
- FTSE100 -0.3%, CAC +0.5%, DAX +1.2%
- Spot gold -0.1% at $US1236.77 an ounce
- Brent oil +1.2% at $US56.86 a barrel
- Iron ore +2.7% at $US94.86 a tonne
What happened overnight?