Good morning team, Chris Conway your Chief Market and Trading Strategist here with your First Look.
SPI futures are pointing to a modest, seven-point gain on the open this morning.
For the most part, global equities posted modest gains overnight as recent selling abated. Oil bounced from the November lows it reached the previous session though there remains concern that crude could slide below the $US40 mark near term.
What’s on today:
No local data
Overseas data: Japan Nikkei June manufacturing PMI; Euro zone Markit manufacturing and services PMIs June; US Markit manufacturing PMI June, New home sales May
Fed speaker: Mester
SPI futures up 7 points or 0.1% to 5650
AUD -0.1% to 75.39 US cents (Overnight range: 75.35 – 75.76)
On Wall St, Dow -0.1%, S&P 500 -0.1%, Nasdaq flat
In New York, BHP +0.8%, Rio +1%
In Europe, Stoxx 50 flat, FTSE -0.1%, CAC +0.2%, DAX +0.2%
Spot gold +0.2% to $US1248.48 an ounce
Brent crude +1% to $US45.27 a barrel
US oil +0.7% to $US42.83 a barrel
Iron ore -0.5% to $US56.53 a tonne
Dalian iron ore -0.7% to 430 yuan
Steam coal -0.1% to $US80.60, Met coal +0.0% to $US145.00
LME aluminium +0.2% to $US1870 a tonne
LME copper flat at $US5743 a tonne
10-year bond yield: US 2.15%, Germany 0.25%, Australia 2.37%