|Good morning team, Chris Conway your Chief Market and Trading Strategist here with your First Look.
SPI futures are pointing to a solid, 16-point pop on the open, after US markets bounced back strongly overnight.
Shares on The Street advanced with the Dow bolstered by Nike, DuPont and American Express.
There was also a modest move forward for tax cuts, with the Republican-controlled House of Representatives narrowly approving a budget blueprint.
Amazon, Alphabet and Microsoft each reported strong earnings after the closing bell in New York.
What’s on today:
Local data: Third quarter PPI
Overseas data: China industrial profits September; Japan national CPI September; US third quarter GDP, University of Michigan consumer sentiment October final
SPI futures up 16 points (+0.3%) to 5914
AUD -0.5% to 76.62 US cents
On Wall St: Dow +0.3%, S&P 500 +0.1%, Nasdaq -0.1%
In New York, BHP +0.3% Rio +0.2%
In Europe: Stoxx 50 +1.3%, FTSE +0.5%, CAC +1.5%, DAX +1.4%
Spot gold -0.8% to $US1267.83 an ounce
Brent crude +1.1% to $US59.06 a barrel
US oil +0.7% to $US52.53 a barrel
Iron ore -1.2% to $US61.47 a tonne
Dalian iron ore -2.2% to 444 yuan
Steam coal -0.1% to $US97.10, Met coal +0.0% to $US181.50
LME aluminium +0.2% to $US2190 a tonne
LME copper -0.3% to $US6986 a tonne
10-year bond yield: US 2.46%, Canada 2.02%, Germany 0.41%, Australia 2.75%, NZ 3.00%
What happened overnight:
Morning Market Update, 27th October 2017
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