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Market Opener – 10 Jan 2018

Local Markets Commentary
The Australian market commences mid-week trade on mixed overnight commodities and some mildly encouraging equities leads ahead of influential data out of China.

China is scheduled to release December CPI and PPI 12.30pm AEDST. December lending figures are anticipated anytime from today.

In overnight commodities trade, oil rallied. US gold futures extended Monday’s pull back. 

LME copper headed lower but nickel rallied.

The $A ultimately changed little after falling below US78.25c early yesterday evening.

Locally today, the Australian Bureau of Statistics (ABS) is expected to release a November job vacancies report. NAB is also scheduled to report December business confidence.

Overseas Market Commentary
Choppy trade featured across most major European and US equities markets overnight, some positive data supporting new records for several indices and financial and health care stocks returning to favour in the US. 

Among new data releases, euro zone November unemployment was reported at a nine-year low of 8.7%, 0.1% lower than for October and 1.1% lower than a year earlier.

Germany reported a 3.4% rise in November industrial production, 5.6% on an annual basis.

November exports rose 4.1% and imports 2.3%, producing a €22.3B trade surplus.

In the US, a job opportunities report revealed fewer people voluntarily left their jobs in November amid fewer opportunities (~5.88M).

Tonight in the US, December import and export prices plus November wholesale inventories are due. 

Companies scheduled to report earnings or provide trading updates include UK supermarket chain Sainsbury’s and Tullow Oil.

In overnight corporate news, Target Corp reported a 3.4% improvement in December comparable store sales. 

Boeing announced a record 763 jetliner deliveries for 2017 and (net) orders for 912 aircraft.
10/01/2018 6:58:00 AM

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