Good morning team, Chris Conway your Chief Market and Trading Strategist here with your First Look.
SPI futures are pointing to a circa 25-point gain on the open this morning, after US markets surged higher overnight amid solid corporate results and merger activity.
The gains are building on positive momentum from the results of the first round of France’s presidential voting process.
The release of first quarter CPI data this morning could provide further direction for local traders.
What’s on today:
Local data: Australia first quarter CPI, Skilled vacancies March
Overseas data: Turkish central bank policy meeting
SPI futures up 23 points or 0.4% to 5897
AUD -0.4% to 75.34 US cents (Overnight range: 75.21 – 75.72)
On Wall St, Dow +1.1%, S&P 500 +0.6%, Nasdaq +0.7%
The Dow topped 21,000 points; the Nasdaq topped 6000 points
In New York, BHP +0.5%, Rio +0.6%
In Europe, Stoxx 50 +0.2%, FTSE +0.2%, CAC +0.2%, DAX +0.1%
Spot gold -1% to $US1263.94 an ounce
Brent crude +0.6% to $US51.89 a barrel
US oil +0.3% to $US49.37 a barrel
Spot iron ore -0.7% to $US66.07 a tonne
Dalian iron ore +1.8% to 505 yuan
Steam coal -0.1% to $US83.85, Met coal -3.5% to $US260.50
LME aluminium +0.9% to $US1963 a tonne
LME copper +0.9% to $US5706 a tonne
10-year bond yield: US 2.33%, Germany 0.37%, Australia 2.59%