Morning all
Thanks AM crew
SPI: +8 @ 5503
XJO Yesterday: +9 @ 5540
Yesterday Chinese equity markets showed strong gains as the blue-chip CSI300 Index jumped 3 percent to a seven-month high on speculation more stimulus would be forthcoming from Beijing after weaker-than-expected July data.
In Japan subdued second-quarter economic reading left the Nikkei down 0.3 percent and suggested the Bank of Japan could again ease monetary policy soon.
Wall Street stocks closed at record highs on Monday, boosted by expectations for continued monetary policy easing around the globe and a jump in oil prices to nearly five-week highs on speculation top producers may be open to cutting output.
The S&P 500, Dow and Nasdaq stock indexes all closed at all-time highs.
A strong monthly jobs report a week ago boosted optimism about the U.S. economy, driving all three major indexes to close at record levels last Thursday for the first time since 1999.
"Our sense is that we're still in this Goldilocks period where it's a sweet spot for equities and that will not change probably until the next rate hike," said Mike Bailey, director of research at FBB Capital Partners.
The Dow Jones industrial average
.DJI rose 59.58 points, or 0.32 percent, to 18,636.05, the S&P 500
.SPX gained 6.1 points, or 0.28 percent, to 2,190.15 and the Nasdaq Composite
.IXIC added 29.12 points, or 0.56 percent, to 5,262.02.
The Federal Reserve will release on Wednesday minutes of its July meeting that could provide clues to the U.S. central bank's plans on interest rates and its view on the health of the economy.
The expected easing posture of central banks globally suggested to investors that the Fed may be slower to raise the nation's short-term rates and that could be reflected in the minutes, analysts said. 1
FTSE: + .4%
DAX: + .25%
S&P: + .3%
Nasdaq: + .6%
Oil prices hit five-week highs on Monday, gaining 10 percent or more in a three-day rally as speculation intensified over potential producer action to support prices amid a crude glut.
Data from market intelligence firm Genscape estimating a draw of more than 350,000 barrels at the Cushing, Oklahoma delivery point for U.S. crude futures last week added to the bullish sentiment, said traders who saw the data.
Separately, a Reuters poll indicated total U.S. crude inventories may have fallen too last week.
Brent has gained about 10 percent cumulatively in the past three sessions, its most in such a stretch since May. Since the start of August, it has risen nearly 14 percent.
U.S. West Texas Intermediate crude CLc1 rose $1.25, or 2.8 percent, to settle at $45.74 a barrel. It also rallied post-settlement to $45.87, its highest since July 21. WTI has gained 10 percent on the month. 1
Iron Ore: $59.93 - .25%
Copper: flat
Nickel: + 2.7%
Zinc: +1%
Aluminium: +1%
Gold prices ended the U.S. day session near unchanged levels in subdued U.S. trading Monday. There were no major, fresh news developments in the world marketplace and the summertime doldrums have taken over in many markets.
Gold: $1338
HUI: + .4%
AUD Gold: $1744
AUD: .7673
On Today:
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Have a good day
Sources:
1 reuters
