Good morning team, Chris Conway your Chief Market and Trading Strategist here with your First Look.
SPI futures are pointing to slim gains on the open, after US markets put in a mixed performance on Friday night.
The Dow slipped marginally, the S&P 500 added 0.2%, whilst the Nasdaq put on 0.5%.
Commodities found some firmer footing over the weekend.
The spot price of iron ore gained 0.4% to $US56.75, slightly above its week earlier level of $US56.30.
What’s on today:
No local data
It’s a quiet week overall for data for Australia with nothing on the schedule until Thursday: HIA new home sales for May and ABS job vacancies for May; and, then on Friday, private sector credit for May.
Across the Tasman, there is trade data for May tomorrow, ANZ business confidence for June on Thursday and on Friday, May’s building permits.
Overseas data: German IFO business climate June; US durable goods orders May, Chicago Fed national activity index May, Dallas Fed manufacturing June
SPI futures up 3 points (+0.1%) to 5662
AUD +0.3% to 75.68 US cents
On Wall St, Dow flat, S&P 500 +0.2%, Nasdaq +0.5%
In New York, BHP +0.7%, Rio +1.2%
In Europe, Stoxx 50 -0.3%, FTSE -0.2%, CAC -0.3%, DAX -0.5%
Spot gold +0.5% to $US1256.23 an ounce
Brent crude +1% to $US45.66 a barrel
Iron ore +0.4% to $US56.75 a tonne
Dalian iron ore flat at 430 yuan
LME aluminium -0.2% to $US1866 a tonne
LME copper +1% to $US5800 a tonne
10-year bond yield: US 2.14%, Germany 0.25%, Australia 2.37%
What happened overnight?