Morning all SPI: +79 @ 5280 XJO Yesterday: -120 @ 5219 Dovish...

Morning all

SPI: +79 @ 5280
XJO Yesterday: -120 @ 5219

Dovish comments from Fed Member Lael Brainard helped markets unstick some of the crap thrown at the fan on Friday overnight, as Wall St breathed a sigh of relief on a Sept. rate rise.
"Today's new normal counsels prudence in the removal of policy accommodation," said Brainard, a permanent voting member and the last official scheduled to speak ahead of the Fed's policy-setting meeting on Sept. 20-21.
Traders trimmed their views on the likelihood of a September rate hike to 15 percent, from 24 percent on Friday, and for a December hike to 54.5 percent from 59.2 percent, according to the CME Group's FedWatch tool.
"There's not enough ammunition for a September rate rise. The market wants to put this off as long as possible," said Jake Dollarhide, chief executive officer of Longbow Asset Management in Tulsa. 1
S&P: + 1.5%
Nasdaq: +1.7%

Oil prices ended nearly 1 percent higher as a softer dollar and stronger U.S. equity markets helped crude futures rebound from an early drop pressured by worries about increased drilling activity for oil in the United States.
Forecasts that U.S. shale oil production could fall for an 11th straight month in October also supported oil prices.
Gains were capped by expectations that U.S. stockpiles may have built again last week after a sharp drawdown the previous week. 1
Brent crude settled up 31 cents, or 0.7 percent, at $48.32 per barrel.
U.S. West Texas Intermediate crude rose 41 cents, or nearly 1 percent, to settle at $46.29.

Iron Ore: Flat
Copper: + .35%
Nickel: - 2.7%
Zinc: - 1.3%
Aluminium: -.6%

Gold: $1328
HUI: + 3.9%
AUD Gold: $1755

AUD: .7565

On Today:



Have a good day

Sources:
1 Reuters