Good morning team, Chris Conway your Chief Market and Trading Strategist here with your First Look.
SPI futures are pointing to a 10-point slide on the open, after US markets put in a mixed performance overnight.
Wall Street recovered into the close with the Dow rising to a record high.
What’s on today:
Local data: Second quarter producer prices
Overseas data: Japan June jobless rate, national CPI June, retail sales June; German CPI July, UK GfK consumer confidence July, Euro zone consumer confidence July; US advance second quarter GDP, second quarter employment costs, University of Michigan consumer sentiment July final
SPI futures down 10 points (-0.2%) to 5710
AUD -0.5% to 79.68 US cents
On Wall St, Dow +0.4%, S&P 500 -0.1%, Nasdaq -0.6%
In New York, BHP +0.1%, Rio -0.3%
VIX +5.3% to 10.11 (Session range: 9.16 – 11.50)
In Europe, Stoxx 50 +0.1%, FTSE -0.1%, CAC -0.1%, DAX -0.8%
Spot gold flat at $US1260.17 an ounce
Brent crude +0.9% to $US51.45 a barrel
US oil +0.7% to $US49.07 a barrel
Iron ore -0.3% to $US70.20 a tonne
Dalian iron ore +1.7% to 531 yuan
Steam coal +0.1% to $US87.30, Met coal +0.0% to $US165.00
LME aluminium – 0.2% to $US1938 a tonne
LME copper flat at $US6330 a tonne
10-year bond yield: US 2.31%, Germany 0.53%, Australia 2.69%
What happened overnight: