Local Markets Commentary

The Australian market opens on positive international equities leads ahead of influential regional data.

China is due to release September quarter GDP 1pm AEDST. September industrial production, retail sales and fixed assets investment are also anticipated then.

In overnight commodities trade, US gold futures advanced. Oil swung higher. LME copper closed slightly higher. Iron ore posted a further gain.

The $A ultimately slipped a little after trading at ~US76.80c yesterday evening.

Locally today, two leading economic indices reports and September skilled vacancies are due.

Several high-profile stocks hold AGMs. Please see p4.

In addition, two companies will debut on the ASX and another two re-list.

Overseas Market Commentary

Major European and US equities markets opened higher overnight and barely flinched.

Data and earnings from several key US stocks generally pleased, the $US appeared less robust and oil prices rose.

US September CPI rose 0.3%, the most in a month in five months, supported by petrol prices and rental costs. The year-on-year rise was 1.5%, the most in 23 months. The August CPI had been reported 0.2% for the month and 1.1% year-on-year.

A home builders’ sentiment index pulled back two points to 65.

In the UK, September CPI was reported 1% higher, on top of a 0.6% increase in August. Petrol, clothing prices and accommodation costs were cited for the largest monthly increase in 27 months.

Tonight in the US, the Federal Reserve’s region-by-region economic summary (beige book) is due, together with September housing starts and building permits. Weekly mortgage applications are also due.

In addition, the third and final presidential candidate debate will be held, in the evening local time (tomorrow AEDST), in Las Vegas.

Akzo Nobel, Carrefour, Morgan Stanley, American Express, eBay, Halliburton and Mattel are scheduled to report.

Overnight, Netflix appreciated ~20% on its late-Monday earnings report, which included better-than-anticipated subscriptions growth.

Goldman Sachs reported 47% higher profit and 20% revenue growth.

United Health was also pushed higher, lifting full-year profit guidance in addition to satisfying quarterly expectations.

Johnson & Johnson did likewise, but was pushed lower, seemingly on competition concerns.

Domino’s Pizza profit rose 25%.