Good morning team, Chris Conway your Chief Market and Trading Strategist here with your First Look.
SPI futures are pointing to a circa 15-point gain on the open this morning, despite US markets putting in a mixed performance overnight.
The Nasdaq hit a record high ahead of Google parent Alphabet’s earnings report, whilst the Dow and S&P 500 finished slightly weaker.
Iron ore, oil, copper each advanced.
What’s on today:
No local data
Overseas data: German IFO business climate July; US FHFA house prices May, S&P CoreLogic CS house prices May, CB consumer confidence July; Richmond Fed manufacturing July
SPI futures up 14 points (+0.2%) to 5639
AUD +0.1% to 79.25 US cents
On Wall St, Dow -0.3%, S&P 500 -0.1%, Nasdaq +0.4%
In New York, BHP +0.3%, Rio -0.5%
In Europe, Stoxx 50 flat, FTSE -1%, CAC +0.2%, DAX -0.3%
Spot gold flat at $US1254.96 an ounce
Brent crude +1% to $US48.56 a barrel
Iron ore +1.1% to $US67.86 a tonne
Dalian iron ore +1.2% to 516 yuan
Steam coal -0.1% to $US86.35, Met coal +0.0% to $US164.00
LME aluminium -0.2% to $US1912 a tonne
LME copper +0.4% to $US6027 tonne
10-year bond yield: US 2.26%, Germany 0.50%, Australia 2.67%
What happened overnight: