Good morning team, Chris Conway your Chief Market and Trading Strategist back on deck after a refreshing break and here with your First Look.
SPI futures are pointing to a modest, nine-point gain on the open, after US markets pushed higher on Friday night.
Stateside, the S&P 500 rose to end higher for a sixth consecutive week with traders looking past a range of earnings misses (including GE), renewed worries about China’s debt levels and political uncertainties inside and outside of the US.
What’s on today:
No local data. Third quarter CPI will be released on Wednesday, Trade data on Thursday.
Overseas data: China property prices September; Euro zone consumer confidence October; US existing home sales September, Chicago Fed national activity
US earnings this week: 3M, AT&T, Caterpillar, GM, McDonald’s, Coca-Cola, Equifax, Freeport-McMoRan, Visa, Alphabet, Amazon.com, American Airlines, Ford Motor, Intel, Microsoft, Twitter, UPS, Western Digital, Wynn Resorts, Xerox, Chevron, Exxon Mobil, Merck among many others.
SPI futures up nine points (+0.2%), to 5899
AUD -0.8% to 78.18 US cents
On Wall St: Dow +0.7%, S&P 500 +0.5%, Nasdaq +0.4%
In New York, BHP -0.7% Rio +0.5%
In Europe: Stoxx 50 +0.1%, FTSE flat, CAC +0.1%, DAX flat
Spot gold -0.8% to $US1280.48 an ounce
Brent crude +1.2% to $US57.90 a barrel
US oil +0.4% to $US51.47 a barrel
Iron ore +2.6% to $US62.46 a tonne
Dalian iron ore +0.7% to 456 yuan
LME aluminium -0.8% to $US2136 a tonne
LME copper -0.2% to $US6952 a tonne
10-year bond yield: US 2.38%, Germany 0.45%, Australia 2.78%
What happened overnight: