Morning traders.Market wrap: a rollercoaster night on Wall...

Morning traders.

Market wrap: a rollercoaster night on Wall Street finished with gains of around 1% on the major indexes after a surge in the final minutes of trade. The Dow, up 200 points in morning trade, fell into the red on worries over weak demand for a Treasury bond auction, but bounced back strongly in the last hour as financial stocks found buyers.

Oil slipped nearly 2.5% to $52.86 but remains close to its high for this year. Gold reversed yesterday's losses, climbing $12 to $938. Base metals were marginally weaker but little changed after a night of uncertain action.

Our futures mirrored Wall Street's late run but with more caution. A negative lead with 30 minutes of trade to go turned into a 15-point gain on the SPI, which closed at 3617.

Good luck to all.