Good morning team, Chris Conway your Chief Market and Trading Strategist here with your First Look.
SPI futures are pointing to a circa 10-point retreat on the the open this morning, after US markets were once again mixed overnight.
The Dow managed to post a 100-point gain, but the broader S&P and Nasdaq both lost ground; the Nasdaq gave up 1.3%.
Commodities didn’t fare too well, with gold and oil weaker, whilst iron ore carved out a modest gain.
What’s on today:
Local data: HIA new home sales October, Private sector credit October, Private capital expenditure third quarter, Building approvals October; NZ building permits October, ANZ business confidence November
Overseas data: China manufacturing PMI November, non-manufacturing PMI November; Japan industrial output October, housing starts October; Euro zone unemployment rate October, CPI estimate November; UK GfK consumer confidence November; US personal income October, personal spending October, PCE inflation October, PCE core inflation October, Chicago PMI November
SPI futures down nine points (-0.2%) to 6010
AUD -0.3% to 75.70 US cents
On Wall St: Dow +0.3%, S&P 500 -0.1%, Nasdaq -1.3%
In New York, BHP -1.8% Rio -1.7%
In Europe: Stoxx 50 +0.2%, FTSE -0.1%, CAC +0.1%, DAX flat
Spot gold -0.9% to $US1282.79 an ounce
Brent crude -1.4% to $US62.75 a barrel
US oil -1.7% to $US57.01 a barrel
Iron ore +0.2% to $US67.92 a tonne
Dalian iron ore +1.4% to 513 yuan
LME aluminium -1.6% to $US2068 a tonne
LME copper -0.7% to $US6760 a tonne
10-year bond yield: US 2.38%, Germany 0.38%, Australia 2.46%
What happened overnight: