Good morning team, Chris Conway your Chief Market and Trading Strategist here with your First Look.
SPI futures are pointing to a circa seven-point slip on the open, after Wall Street waded through its weakest session in seven weeks overnight.
A session after surging to fresh records, shares on Wall Street retreated amid disappointing results from Chipotle Mexican Grill and Advanced Micro Devices.
In the background, denting sentiment, was the escalating feud within the Republican party in Congress with President Donald Trump.
What’s on today:
Local data: Trade price indices third quarter, RBA deputy governor Debelle speaks this evening; NZ trade balance September
Overseas datga: Germany GkK consumer confidence Novemer; ECB policy meeting; US pending home sales September, Kansas City Fed manufacturing October
SPI futures down seven points (-0.1%) to 5880
AUD -1% to 76.99 US cents
NZD +0.5% to 89.24 Australian cents
On Wall St: Dow -0.5%, S&P 500 -0.5%, Nasdaq -0.6%
In New York, BHP -2.2% Rio -2.1%
In Europe: Stoxx 50 -0.5%, FTSE -1.1%, CAC +0.4%, DAX -0.5%
Spot gold flat at $US1276.89 an ounce
Brent crude flat at $US58.33 a barrel
US oil -0.6% to $US52.14 a barrel
Iron ore -0.3% to $US62.24 a tonne
Dalian iron ore -0.9% to 454 yuan
LME aluminium +1.4% to $US2186 a tonne
LME copper +0.1% to $US7010 a tonne
10-year bond yield: US 2.44%, Canada 2.04%, Germany 0.48%, Australia 2.76%, New Zealand 2.99%
What happened overnight: