Disclaimer: All information on this section is of a general nature.
Before making any investment decision, you should consult your adviser.
Market Opener – 16 Feb 2018
Local Markets Commentary
The Australian market commences Friday trade following positive overnight US equities trade leads, amid a further swag of high-profile domestic corporate reports, amid Lunar New Year select market closures, and ahead of a US Monday public holiday weekend.
Also locally today, from 9.30am AEDST, Reserve Bank of Australia (RBA) governor Philip Lowe delivers a six-monthly scheduled policy and economic overview update to a House of Representatives economics committee.
ANN and ARG are among companies trading ex-dividend.
In overnight commodities trade, US gold futures turned a little lower.
WTI crude extended Wednesday’s rally, but Brent closed US3c lower.
Iron ore (China port, 62% Fe) reportedly rose US2c/t.
LME copper and nickel continued modestly higher.
The $A slipped to ~US79.40c after trading at US79.60c early yesterday evening.
Overseas Market Commentary
Vacillations featured again across major European and US equities markets overnight, but key US indices settled at or near session highs, the DJIA reaching the psychologically-significant 25,000 level.
The $US weakened again, euro and British pound relative strength detracting from European equities trade sentiment.
In addition, AstraZeneca, BP, Shell, Unilever and TUI traded ex-dividend, constraining FTSE 100 gains.
US sovereign 10-year bond prices rose a little after falling in early trade.
Among a batch of mixed US data releases, January producer prices were reported 0.4% higher for the month, and up 2.7% year-on-year, as with CPI, in part pushed upwards by higher energy prices. December PPI had come in flat.
January industrial production slipped 0.1% following a 0.4% gain in December.
A Philadelphia region manufacturing index rose 3.6 to 25.8.
A New York state manufacturing index fell by 4.6 to 13.1.
Weekly new unemployment claims rose by 7000.
A home builders’ housing market index remained flat, but at a historically strong 72.
In the euro zone, the December trade surplus was reported at €25.4B from €26.43B at the end of November.
European Central Bank chief economist Peter Praet maintained the central bank would continue with stimulus until the region’s economy looked like it could independently sustain reasonable inflation levels.
Meanwhile, South Africa’s parliament voted in ANC leader since December, Cyril Ramaphosa, as the national president following the forced resignation of Jacob Zuma.
Tonight in the US, January housing starts, building permits and import and export prices are due, together with an initial February consumer sentiment reading from the University of Michigan.
Bridgestone, Campbell Soup, Coca-Cola, Deere and Kraft Heinz are among companies scheduled to report earnings today or tonight.
In overnight corporate news, Berkshire Hathaway promoted Apple to the top of its investment list, pushing the stock 3.2% higher. Another operating system fault has been reported however, and this could swing tonight’s Apple trade.
China’s markets are closed through 21 February (Wednesday next week), due to Lunar New Year and Spring Festival holidays.
Hong Kong’s and Singapore’s are closed through Monday. South Korea’s markets remain closed today.
US equities markets will be closed Monday, due to a public holiday.
The Australian market commences Friday trade following positive overnight US equities trade leads, amid a further swag of high-profile domestic corporate reports, amid Lunar New Year select market closures, and ahead of a US Monday public holiday weekend.
Also locally today, from 9.30am AEDST, Reserve Bank of Australia (RBA) governor Philip Lowe delivers a six-monthly scheduled policy and economic overview update to a House of Representatives economics committee.
ANN and ARG are among companies trading ex-dividend.
In overnight commodities trade, US gold futures turned a little lower.
WTI crude extended Wednesday’s rally, but Brent closed US3c lower.
Iron ore (China port, 62% Fe) reportedly rose US2c/t.
LME copper and nickel continued modestly higher.
The $A slipped to ~US79.40c after trading at US79.60c early yesterday evening.
Overseas Market Commentary
Vacillations featured again across major European and US equities markets overnight, but key US indices settled at or near session highs, the DJIA reaching the psychologically-significant 25,000 level.
The $US weakened again, euro and British pound relative strength detracting from European equities trade sentiment.
In addition, AstraZeneca, BP, Shell, Unilever and TUI traded ex-dividend, constraining FTSE 100 gains.
US sovereign 10-year bond prices rose a little after falling in early trade.
Among a batch of mixed US data releases, January producer prices were reported 0.4% higher for the month, and up 2.7% year-on-year, as with CPI, in part pushed upwards by higher energy prices. December PPI had come in flat.
January industrial production slipped 0.1% following a 0.4% gain in December.
A Philadelphia region manufacturing index rose 3.6 to 25.8.
A New York state manufacturing index fell by 4.6 to 13.1.
Weekly new unemployment claims rose by 7000.
A home builders’ housing market index remained flat, but at a historically strong 72.
In the euro zone, the December trade surplus was reported at €25.4B from €26.43B at the end of November.
European Central Bank chief economist Peter Praet maintained the central bank would continue with stimulus until the region’s economy looked like it could independently sustain reasonable inflation levels.
Meanwhile, South Africa’s parliament voted in ANC leader since December, Cyril Ramaphosa, as the national president following the forced resignation of Jacob Zuma.
Tonight in the US, January housing starts, building permits and import and export prices are due, together with an initial February consumer sentiment reading from the University of Michigan.
Bridgestone, Campbell Soup, Coca-Cola, Deere and Kraft Heinz are among companies scheduled to report earnings today or tonight.
In overnight corporate news, Berkshire Hathaway promoted Apple to the top of its investment list, pushing the stock 3.2% higher. Another operating system fault has been reported however, and this could swing tonight’s Apple trade.
China’s markets are closed through 21 February (Wednesday next week), due to Lunar New Year and Spring Festival holidays.
Hong Kong’s and Singapore’s are closed through Monday. South Korea’s markets remain closed today.
US equities markets will be closed Monday, due to a public holiday.