Good morning team, Chris Conway your Chief Market and Trading Strategist here with your First Look.
SPI futures are pointing to a modestly stronger start later this morning, after US markets finished mixed again overnight.
Local shares could be checked however, in the wake of Rio Tinto’s mixed results and profit-taking on The Street.
What’s on today:
Local data: AiG performance of services July, Trade balance june; New Zealand ANZ job ads July
Overseas data: China Caixin services PMI July; Japan Nikkei services PMI July; Euro zone Markit services PMI July, Retail sales June; UK Markit/CIP services PMI July, Bank of England policy statement; US Markit services PMI July, ISM non-manufacturing July, Factory orders June, Durable goods orders June
SPI futures up 10 points (+0.2%) to 5691
AUD -0.1% to 79.63 US cents
On Wall St, Dow +0.2%, S&P 500 +0.1%, Nasdaq flat
Apple +4.8% to $US157.27, market cap $US822 billion
In New York, BHP -0.6%, Rio -2.4%
In Europe, Stoxx 50 -0.5%, FTSE -0.2%, CAC -0.4%, DAX -0.6%
Spot gold flat at $US1268.70 an ounce
Brent crude +0.8% to $US52.18 a barrel
US oil +0.6% to $US49.44 a barrel
Iron ore -1.7% to $US72.30 a tonne
Dalian iron ore -0.2% to 540 yuan
LME aluminium +1% to $US1926 a tonne
LME copper +0.1% to $US6352 a tonne
10-year bond yield: US 2.26%, Germany 0.48%, Australia 2.70%
What happened overnight: