Good morning team, Chris Conway your Chief Market and Trading Strategist here with your First Look.
SPI futures are pointing to a 20-point pullback on the open this morning, after US markets retreated from record highs overnight.
Financials were the weakest link Stateside, whilst commodities also took a hit; gold, oil and iron ore were all weaker.
What’s on today:
Local data: NZ GDT Price Index
Overseas data: China Trade October, US Fed CHair Yellen Speaks, US Consumer Credit
SPI futures down 21 points (-0.4%) to 5976 points.
AUD -0.7% to US76.85¢
On Wall St: Dow Jones -0.06%, S&P500 -0.07%, Nasdaq -0.3%
In Europe: Stoxx 50 -0.6%, FTSE 100 -0.7%, CAC 40 0.5%, DAX – 0.7%
Spot gold -0.5% to $US1275.45
Brent crude -0.8% to $US63.73 a barrel
Iron ore -1.1% to $US62.66 a tonne
LME aluminium -1.8% to 2,132 a tonne
LME copper -2.1% to $US6,826 a tonne
What happened overnight: