|Good morning team, Chris Conway your Chief Market and Trading Strategist here with your First Look.
SPI futures are pointing to a healthy, 34-point gain on the open this morning, after US markets continued their run higher on Friday night.
Strong results from Amazon, Alphabet, Microsoft and Intel provided a big lift, with the tech-dominated Nasdaq 100 having its best session relative to the S&P 500 since 2009.
Economic data also provided a boost, with the US economy expanding at a better-than-expected 3 per cent annualised pace in the September quarter.
What’s on today:
No local data
Overseas data: Japan retail sales September; Euro zone economic confidence October, Business climate October, Consumer confidence October; US personal income and spending September, PCE inflation September, Dallas Fed manufacturing October
Later in the week the Bank of Japan holds a policy meeting, followed by the Federal Reserve and then the Bank of England
SPI futures up 34 points (+0.6%) to 5921
AUD +0.2% to 76.76 US cents
On Wall St: Dow +0.1%, S&P 500 +0.8%, Nasdaq +2.2%
In New York, BHP -0.5% Rio +0.5%
In Europe: Stoxx 50 +0.4%, FTSE +0.3%, CAC +0.7%, DAX +0.6%
Spot gold +0.5% to $US1273.35 an ounce
Brent crude +1.9% to $US60.44 a barrel
US oil +2.4% to $US53.90 a barrel
Iron ore -2.3% to $60.08 a tonne
Dalian iron ore -2.3% to 430 yuan
LME aluminium -1% to $US2168 a tonne
LME copper -2.2% to $US6830 a tonne
10-year bond yield: US 2.14%, Germany 0.38%, Spain 1.57%, Australia 2.77%, NZ 3.01%
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