Good morning team, Chris Conway your Chief Market and Trading Strategist here with your First Look.

SPI futures are pointing to a circa 30-point fall on the open, after US markets came back online overnight and reacted poorly to the rising tensions between Washington and Pyongyang.

The Dow slumped more than 230 points at the end of the session, with traders returning from a three-day break and hitting the sell button.

Throwing more cold water on investor sentiment were speeches by Fed governor Lael Brainard and Minneapolis Fed boss Neel Kashkari – both of whom are dovish, or keen not to rush rates higher any faster than needed.

What’s on today:

Local data: Second quarter GDP, RBA head of economic analysis Alex Heath speaks

Overseas data: Germany factory orders July; Bank of Canada policy meeting; US Trade balance July, Market services PMI August, ISM non manufacturing August, Fed’s Kaplan speaks

Key numbers:

SPI futures down 33 points (-0.6%) to 5659

AUD +0.6% to 79.93 US cents

On Wall St, Dow -1.1%, S&P 500 -0.8%, Nasdaq -0.9%

In New York, BHP -0.2%, Rio -1.4%

In Europe, Stoxx 50 -0.3%, FTSE -0.5%, CAC -0.3%, DAX +0.2%

Spot gold +0.6% to $US1341.29 an ounce

Brent crude +1.8% to $US53.30 a barrel

US oil +2.8% to $US48.63 a barrel

Iron ore +0.7% to $US78.39 a tonne

Dalian iron ore -2.1% to 559 yuan

LME aluminium -1.1% to $US2096 a tonne

LME copper -0.2% to $US6901 a tonne

10-year bond yield: US 2.07%; Germany 0.33%, Australia 2.67%

What’s on today: