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Before making any investment decision, you should consult your adviser.
Market Opener – 17 Oct 2017
Local Markets Commentary
The Australian market commences today’s trade on a swag of influential ASX company announcements and several positive key commodities leads.
US gold futures settled slightly lower overnight. Oil and iron ore (China port, 62% Fe) continued higher, however. LME copper and nickel rallied.
Locally today, the Reserve Bank of Australia (RBA) publishes minutes from its October policy meeting.
September new motor vehicle sales are also due, and pre-trade, a weekly consumer sentiment reading.
The $A slipped to ~US78.50c overnight, after trading at ~US78.75c early yesterday evening.
Overseas Market Commentary
Major European and US equities markets mostly opened higher overnight, and despite vacillations, the majority settled higher for the session. The FTSE100 again proved the exception.
Among data releases, a New York manufacturing index jumped 5.8 points for the month, to a 30.2 three-year peak.
The euro zone’s August trade surplus slipped €1.4B over the year, and €7.1B for the month, to €16.1B. This was mostly attributed to euro strength, which helped push the annual value of imports 8.6% higher, to €155.4B, against the value of exports, which rose 6.8% to €171.5B.
Tonight in the US, September industrial production and trade prices are due, together with a housing market index.
Across the Atlantic, Bank of England governor Mark Carney and other BoE officials will be quizzed by parliamentarians.
Danone, Goldman Sachs, IBM, Johnson & Johnson, Morgan Stanley and United Health are scheduled to report earnings.
In overnight corporate news, an Apple research rating upgrade supported the DJIA, lifting Apple stock ~2%.
Post-US trade, Netflix reported higher-than-forecast September quarter subscriber numbers, and revenue that slightly exceeded expectations.
The Australian market commences today’s trade on a swag of influential ASX company announcements and several positive key commodities leads.
US gold futures settled slightly lower overnight. Oil and iron ore (China port, 62% Fe) continued higher, however. LME copper and nickel rallied.
Locally today, the Reserve Bank of Australia (RBA) publishes minutes from its October policy meeting.
September new motor vehicle sales are also due, and pre-trade, a weekly consumer sentiment reading.
The $A slipped to ~US78.50c overnight, after trading at ~US78.75c early yesterday evening.
Overseas Market Commentary
Major European and US equities markets mostly opened higher overnight, and despite vacillations, the majority settled higher for the session. The FTSE100 again proved the exception.
Among data releases, a New York manufacturing index jumped 5.8 points for the month, to a 30.2 three-year peak.
The euro zone’s August trade surplus slipped €1.4B over the year, and €7.1B for the month, to €16.1B. This was mostly attributed to euro strength, which helped push the annual value of imports 8.6% higher, to €155.4B, against the value of exports, which rose 6.8% to €171.5B.
Tonight in the US, September industrial production and trade prices are due, together with a housing market index.
Across the Atlantic, Bank of England governor Mark Carney and other BoE officials will be quizzed by parliamentarians.
Danone, Goldman Sachs, IBM, Johnson & Johnson, Morgan Stanley and United Health are scheduled to report earnings.
In overnight corporate news, an Apple research rating upgrade supported the DJIA, lifting Apple stock ~2%.
Post-US trade, Netflix reported higher-than-forecast September quarter subscriber numbers, and revenue that slightly exceeded expectations.