Good morning team, Chris Conway your Chief Market and Trading Strategist here with your First Look.
SPI futures are pointing to a 33-point pop on the open, after US markets pushed higher overnight.
Earnings optimism Stateside, coupled with a spate of merger activity bolstered sentiment in Europe and on Wall Street overnight, sending the Dow, S&P 500 and Nasdaq higher.
Commodities were more subdued, with gold flat and oil and iron ore slightly weaker.
What’s on today:
Overseas data: Bank of Japan policy meeting; Euro zone ZEW expectations January; German ZEW expectations January; US Richmond Fed manufacturing January
SPI futures up 33 points (+0.6%) to 5971
AUD +0.2% to 80.03 US cents
On Wall St: Dow +0.3%, S&P 500 +0.5%, Nasdaq +0.7%
In New York, BHP -1% Rio +0.1%
In Europe: Stoxx 50 +0.4%, FTSE -0.2%, CAC +0.3%, DAX +0.2%
Spot gold flat at $US1332.03 an ounce
Brent crude flat at $US68.63 a barrel
US oil -0.3% to $US63.20 a barrel
Iron ore -0.2% to $US76.61 a tonne
Dalian iron ore -1% to 537.5 yuan
LME aluminium +1.4% to $US2249 a tonne
LME copper +0.4% to $US7068 a tonne
10-year bond yield: US 2.65%, Germany 0.56%, Japan 0.07%, Australia 2.86%
What happened overnight: