|Good morning team, Chris Conway your Chief Market and Trading Strategist here with your First Look.
SPI futures are currently pointing to a circa 13-point on the open, despite a mixed performance from US markets overnight.
Strength in commodities is the likely explanation for the futures pointing to a positive start, with iron ore (+1.3%), US oil (+0.8%) and gold (+0.1%) all higher.
What’s on today:
Local data: Building approvals November, ANZ job ads December
Overseas data: Euro zone unemployment rate November, German industrial production November; US consumer credit November, NFIB small business optimism December, Fed speaker: Kashkari
SPI futures up 13 points (+0.2%) to 6094
AUD -0.3% to 78.42 US cents
On Wall St: Dow -0.1%, S&P 500 +0.2%, Nasdaq +0.3%
In New York, BHP +0.7% Rio +2%
In Europe: Stoxx 50 +0.2%, FTSE -0.4%, CAC +0.3%, DAX +0.4%
Spot gold +0.1% to $US1320.27 an ounce
Brent crude +0.4% to $US67.90 a barrel
US oil +0.8% to $US61.90 a barrel
Iron ore +1.2% to $US77.74 a tonne
Dalian iron ore +3% to 557.5 yuan
LME aluminium -1.3% to $US2175 a tonne
LME copper +0.1% to $US7125 a tonne
10-year bond yield: US 2.48%, Germany 0.43%, Australia 2.65%
What happened overnight:
Morning Market Update, Updated 9th January 2018
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