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State One Market Opener - 16 Aug 2016
Local Markets Commentary
The Australian market opens today’s trade after major US markets again achieved record high settlements.
In commodities trade, oil continued to rally. US gold futures and LME copper turned slightly higher. Iron ore pulled back a little.
The $A mostly retained relative strength after trading at ~US76.80c early yesterday evening.
Locally today, a weekly consumer sentiment reading is due pre-trade.
The RBA releases August policy meeting minutes 11.30am AEST, and the ABS new vehicle sales for July.
Corporate reporting season also continues in full swing and will influence select sector trade.
Overseas Market Commentary
Major European and US equities markets opened higher overnight, with major UK and US indices never headed on their way to albeit mostly modest gains. Oil continued to rally and other commodity stocks benefited from a softer $US.
US a home builders’ confidence index was reported two points higher, at 60, after recent stagnation.
A New York region manufacturing index retreated into contraction mode again however, falling to -4.2 from +0.6 over the past month.
Tonight in the US, July CPI, housing starts, building permits and industrial production are due.
Autohome, Home Depot, Urban Outfitters, BHP Billiton, Antofagasta, Cairn Energy, Wood Group are among companies scheduled to report earnings today and tonight.
Overnight, Twitter appreciated on rumours its app may appear on Apple TV.
Meanwhile Berkshire Hathaway disclosed it had grown its Apple holding 55% during the June quarter, seemingly at the expense of its investment in retailer Wal-Mart. This holding fell 27%.
General Motors was reported to be interested in lifting its Lyft holding to as much as 100%.
Major US food distributor Sysco Corp pleased with higher profit and revenue, plus increased business.
The Australian market opens today’s trade after major US markets again achieved record high settlements.
In commodities trade, oil continued to rally. US gold futures and LME copper turned slightly higher. Iron ore pulled back a little.
The $A mostly retained relative strength after trading at ~US76.80c early yesterday evening.
Locally today, a weekly consumer sentiment reading is due pre-trade.
The RBA releases August policy meeting minutes 11.30am AEST, and the ABS new vehicle sales for July.
Corporate reporting season also continues in full swing and will influence select sector trade.
Overseas Market Commentary
Major European and US equities markets opened higher overnight, with major UK and US indices never headed on their way to albeit mostly modest gains. Oil continued to rally and other commodity stocks benefited from a softer $US.
US a home builders’ confidence index was reported two points higher, at 60, after recent stagnation.
A New York region manufacturing index retreated into contraction mode again however, falling to -4.2 from +0.6 over the past month.
Tonight in the US, July CPI, housing starts, building permits and industrial production are due.
Autohome, Home Depot, Urban Outfitters, BHP Billiton, Antofagasta, Cairn Energy, Wood Group are among companies scheduled to report earnings today and tonight.
Overnight, Twitter appreciated on rumours its app may appear on Apple TV.
Meanwhile Berkshire Hathaway disclosed it had grown its Apple holding 55% during the June quarter, seemingly at the expense of its investment in retailer Wal-Mart. This holding fell 27%.
General Motors was reported to be interested in lifting its Lyft holding to as much as 100%.
Major US food distributor Sysco Corp pleased with higher profit and revenue, plus increased business.