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 pop on the open this morning, after US markets finished higher overnight and tensions around North Korea eased.
On The Street shares were modestly higher, advancing in the final hour of the session.
Base metals, including copper and aluminium, closed higher in London.
What’s on today:
Local data: Construction work done second quarter, Building approvals July; NZ building permits July
Earnings scheduled: Boral, Independence Group, Sandfire Resources, Orocobre, Macquarie Atlas Roads, Ramsay Healthcare
Overseas data: Japan retail sales July; Euro zone economic confidence August, business climate August, consumer confidence August; German CPI August; US ADP August report, second quarter GDP 2nd estimate
SPI futures up 26 points (+0.5%) to 5658
AUD -0.2% to 79.45 US cents
On Wall St, Dow +0.3%, S&P 500 +0.1%, Nasdaq +0.3%
In New York, BHP +0.4%, Rio +0.2%
In Europe, Stoxx 50 -1%, FTSE -0.9%, CAC -0.9%, DAX -1.5%
Spot gold +0.1% to $US1311.64 an ounce
Brent crude -0.3% to $US51.73 a barrel
US oil -0.6% to $US46.29 a barrel
Iron ore -1% to $US76.36 a tonne
Dalian iron ore -2.8% to 547 yuan
Steam coal -0.7% to $US97.05, Met coal +0.5% to $US197.00
LME aluminium +1.2% to $US2095 a tonne
LME copper +1.9% to $US6791.50 a tonne
10-year bond yield: US 2.13%, Germany 0.34%, Australia 2.62%
What happened overnight: