Morning traders. Thanks loungers, especially @Ravgnome and @Patterns.
Outlook for the day: Positive ahead of inflation data that could determine next Tuesday's Reserve Bank interest rate decision.
ASX futures: up 19 points or 0.26%
Overnight themes:
- US stocks advance on elevated expectations for artificial intelligence earnings from tech heavyweights Microsoft and Google owner Alphabet. The tech-heavy Nasdaq sets the pace.
- Microsoft and Alphabet release earnings after this morning's official close. The reaction in after-market trade is mixed: Alphabet jumps 7.6%; Microsoft dips 0.66%.
- The Dow adds to its longest winning run in more than six years, rising for a 12th session. The blue-chip average is lifted by earnings from 3M and Verizon.
- Consumer sentiment lifts to its highest in two years, according to a Conference Board index. House prices rise for a fourth month.
- Mining stocks outperform. The materials sector rises 1.76%, technology 1.19% and energy 0.57%. Real estate, financials and consumer discretionary are the biggest drags in a mixed market.
- Oil hits a fresh three-month high after China's decision-making Politburo pledges further support for the economy. Iron ore, base metals and the Australian dollar also rally.
Key events today:
- Q4 Consumer Price Index (inflation data) - 11.30 am AEST (quarterly expected: 1%; previous: 1.4%; annual expected: 5.4%; previous: 5.6%)
- US interest rate decision - tonight
S&P 500: up 13 points or 0.28%
Dow: up 27 points or 0.08%
Nasdaq: up 86 points or 0.61%
Dollar: up 0.8% to 67.86 US cents
Iron ore (Dalian): up 1.23% to US$120.72
Brent crude: up 90 US cents or 1.1% to US$83.64 (3-month high)
Gold: up US$1.50 or 0.1% to US$1,963.70
NYSE Arca Gold Bugs: up 1.24%
Copper (LME): up 1.68% to US$8,660
Nickel (LME): up 4.86% to US$22,460
Global X Lithium & Battery Tech ETF: up 1.09%
BHP: up 4.39% (US); 3.94% (UK)
Rio Tinto: up 4.15% (US); up 4.19% (UK)
