Good morning team, Chris Conway your Chief Market and Trading Strategist here with your First Look.
SPI futures are pointing to a circa 15-point gain on the open this morning, after US markets pushed higher overnight.
The Dow recorded a ninth consecutive winning session, whilst the spot price of iron ore rose 2.8 per cent to $US76.17 a tonne.
What’s on today:
Local data: NAB business survey July, business conditions, business confidence
Earnings: IFL, JHG, JHX, TCL
Overseas data: China July trade; Japan June current account; US NFIB small business optimism
SPI futures up 14 points (+0.2%) to 5718
AUD -0.2% to 79.06 US cents
On Wall St, Dow +0.1%, S&P 500 +0.2%, Nasdaq +0.5%
In New York, BHP +1.9%, Rio +2.2%
In Europe, Stoxx 50 -0.1%, FTSE +0.3%, CAC +0.1%, DAX -0.3%
Spot gold flat at $US125842 an ounce
Brent crude -0.3% to $US52.25 a barrel
Iron ore +2.8% to $US76.17 a tonne
Dalian iron ore +1.2% to 571 yuan
Steam coal -0.4% to $US95.00, met. coal +3.3% to $US194.25
Comex copper +0.8%
10-year bond yield: US 2.25%, Germany 0.45%, Australia 2.62%
What happened overnight: