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Before making any investment decision, you should seek the relevant advice.
Market Opener – 17 Apr 2018
Local Markets Commentary
The Australian market commences today’s trade following decidedly mixed overnight international equities and commodities settlements, ahead of influential regional data and the Reserve Bank of Australia’s (RBA) April policy meeting minutes.
China is expected to report March quarter GDP, March industrial production, March retail sales and fixed asset production midday AEST.
The RBA’s policy meeting minutes are scheduled for release 11.30am AEST.
Also locally today, a weekly consumer sentiment reading is due pre-trade.
In overnight commodities trade, US gold futures settled a little higher. Oil was pushed lower.
Iron ore (China port, 62% Fe) extended Friday’s swing lower.
LME copper and nickel rallied. Aluminium was propelled sharply higher.
The $A appreciated beyond US77.80c after trading at ~US77.75c early yesterday evening.
Overseas Market Commentary
Major European and US equities mostly headed higher on opening overnight but key European indices were ultimately pushed lower.
In addition to a plethora of international and US domestic political commentary, traders considered: a cyber attack seeming to particularly target the UK; a warming earnings season and clinical trial results from some high-profile stocks; and euro and British pound strength; ahead of a batch of influential data out of China today.
Among mixed US data releases, March retail sales pleased, reported 0.6% higher, following falls for both January and February.
February overall business inventories also rose 0.6%.
A homebuilders’ sentiment index slipped one point to 69.
An April New York business activity index dropped 6.7 to 15.8. The six-month outlook component tumbled by 26 points to a two-year low of 18.
Tonight in the US, March industrial production, housing starts and building permits are due.
Companies scheduled to report earnings include: Associated British Foods, CSX, Goldman Sachs, IBM, Johnson & Johnson and Omnicom.
In overnight corporate news, Netflix has reported post-US trade, revealing $US3.7B quarterly revenue and subscriber growth figures that have helped pushed the stock 6% higher post-settlement.
Bank of America exceeded profit and revenue forecasts but gained less than 0.5%.
The Australian market commences today’s trade following decidedly mixed overnight international equities and commodities settlements, ahead of influential regional data and the Reserve Bank of Australia’s (RBA) April policy meeting minutes.
China is expected to report March quarter GDP, March industrial production, March retail sales and fixed asset production midday AEST.
The RBA’s policy meeting minutes are scheduled for release 11.30am AEST.
Also locally today, a weekly consumer sentiment reading is due pre-trade.
In overnight commodities trade, US gold futures settled a little higher. Oil was pushed lower.
Iron ore (China port, 62% Fe) extended Friday’s swing lower.
LME copper and nickel rallied. Aluminium was propelled sharply higher.
The $A appreciated beyond US77.80c after trading at ~US77.75c early yesterday evening.
Overseas Market Commentary
Major European and US equities mostly headed higher on opening overnight but key European indices were ultimately pushed lower.
In addition to a plethora of international and US domestic political commentary, traders considered: a cyber attack seeming to particularly target the UK; a warming earnings season and clinical trial results from some high-profile stocks; and euro and British pound strength; ahead of a batch of influential data out of China today.
Among mixed US data releases, March retail sales pleased, reported 0.6% higher, following falls for both January and February.
February overall business inventories also rose 0.6%.
A homebuilders’ sentiment index slipped one point to 69.
An April New York business activity index dropped 6.7 to 15.8. The six-month outlook component tumbled by 26 points to a two-year low of 18.
Tonight in the US, March industrial production, housing starts and building permits are due.
Companies scheduled to report earnings include: Associated British Foods, CSX, Goldman Sachs, IBM, Johnson & Johnson and Omnicom.
In overnight corporate news, Netflix has reported post-US trade, revealing $US3.7B quarterly revenue and subscriber growth figures that have helped pushed the stock 6% higher post-settlement.
Bank of America exceeded profit and revenue forecasts but gained less than 0.5%.