Morning all
Thanks Trees, Shants Rav et al
A listless overnight session belies SPI futures this morning that are 15 points higher at 5473.
Locally, direction may well be provided at 11:30 AM with the release of Q2 inflation data.
The US Fed, a bunch who deserve to live in a crocodile pit, kicked off a 2 day meeting on interest rates.
On a potentially bullish note of some interest, Caterpillar shares jumped over 5% to 42 week highs after their quarterly beat estimates. The heavy machinery manufacturer is a bell weather for large mechanical project investment.
After investors shrugged off Britain's unexpected vote in late June to leave the European Union, the S&P 500 rallied and is up 6 percent year to date.
Of some companies reporting earnings, Apple surged 4 percent after market as the company reported more iPhone sales than expected for the June quarter. However sales remain in a longer term downtrend.
Twitter slumped 9 percent after the social network reported its slowest quarterly revenue growth since going public in 2013.
McDonald's sank 4.46 percent after reporting worse-than-expected quarterly sales at established U.S. restaurants. The stock weighed the most on the Dow. 1
S&P flat
Nasdaq -.2%
Oil fell to a three-month low in New York as supplies were considered to be plentiful even as stockpiles were seen deepening a record pullback in the US.
Oil $42.70 - .42c
Iron Ore +2.2% @ $58.08
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Gold climbed as investors scaled back expectations for extra stimulus from Japan's government, boosting the yen and weakening the US dollar.
Gold $1319
HUI +3.7%
AUD Gold $1759
AUD .7503
Have a good day
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