|Good morning team, Chris Conway your Chief Market and Trading Strategist here with your First Look.
SPI futures are pointing to a 10-point pop on the open, despite a mixed performance on Wall Street overnight.
The Nasdaq finished higher, on the back of big gains in Netflix, whilst the S&P 500 also advanced but the Dow slipped slightly lower.
Iron ore took a hit, with the NY listed shares of BHP and RIO both down at least 1.5%.
Conversely, old and oil were higher with the IMF’s buoyant outlook for global growth getting the credit in helping Brent retop, briefly, the $US70 a barrel mark.
Both Brent and US oil were up more than 1%.
What’s on today:
Local data: WBC leading index December, Skilled vacancies December
Overseas data: Japan trade balance December, Nikkei manufacturing PMI January; Euro zone Markit manufacturing and services PMIs January; UK jobless claims December; US Markit manufacturing and services PMIs January, Existing home sales December, FHFA house prices November
SPI futures up 10 points (+0.2%) to 5997
AUD -0.2% to 79.98 US cents
On Wall St: Dow -0.1%, S&P 500 +0.2%, Nasdaq +0.6%
In New York, BHP -1.5% Rio -1.6%
In Europe: Stoxx 50 +0.2%, FTSE +0.2%, CAC -0.1%, DAX +0.7%
Spot gold +0.2% to $US1337.13 an ounce
Brent crude +1.1% to $US69.77 a barrel
US oil +1.2% to $US64.33 a barrel
Iron ore to -3% to $US74.29 a tonne
Dalian iron ore -1.2% to $US521.5 yuan
LME aluminium -0.9% to $US2229.50 a tonne
LME copper -2.1% to $US6923 a tonne
10-year bond yield: US 2.61%, Germany 0.56%, Australia 2.83%
Morning Market Update, Updated 24th January 2018
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