|Good morning team, Chris Conway your Chief Market and Trading Strategist here with your First Look.
SPI futures are pointing to a circa 10-point gain on the open today, after US markets pushed higher again overnight.
It was another record night on Wall Street, with the Dow jumping on strong results from Caterpillar and 3M, whilst the broader S&P also ground higher.
This week is the big one for US quarterly earnings season and so far the results have been impressive enough to confirm the strength on the US economy and the global economy.
What’s on today:
Local data: Skilled vacancies September, Third quarter CPI
Overseas data: German IFO business climate October; UK third quarter GDP; US durable goods orders September, FHFA house prices August, New home sales September
SPI futures up 10 points (+0.2%) to 5893
AUD -0.3% to 77.79 US cents
NZD -0.6% to 88.74 Australian cents
On Wall St: Dow +0.7%, S&P 500 +0.2%, Nasdaq +0.2%
In New York, BHP +0.8% Rio +0.3%
In Europe: Stoxx 50 +0.1%, FTSE flat, CAC +0.2%, DAX +0.1%
Spot gold -0.4% to $US1276.68 an ounce
Brent crude +1.5% to $US58.24 a barrel
US oil +1.1% to $US52.46 a barrel
Iron ore +0.7% to $US62.42 a tonne
Dalian iron ore flat at 460 yuan
Steam coal +0.7% to $US97.20, Met coal +0.0% to $US181.50
LME aluminium +0.8% to $US2155 a tonne
LME copper +0.4% to $US7035 a tonne
10-year bond yield: US 2.40%, Germany 0.47%, Spain 1.65%, Australia 2.77%
What happened overnight:
Morning Market Update, 25th October 2017
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