Originally published by Rivkin
The ASX is expected to gain slightly at the open following positive comments from Donald Trump regarding trade war concerns with China. After the recent APEC summit, the US President mentioned China is keen to reach a trade deal. Wall Street ended the trading week on a much needed high as all major indices climbed between 0.2% - 0.5% with the Dow Jones leading the gains. Although US markets finished the week in the red, investors are still hopefully optimistic as US economic growth remains strong and stable and trade war tensions ease. SPI futures were 17 points higher as at 10am AEDT.
Despite most global equity markets rising at week-end, European markets shed slightly due to the uncertainty behind the ongoing Brexit process. Brent Crude Oil was up 0.7% trading at $67.09 USD, US 10-year bond yield is at 3.06% and the Australian dollar rose to 73.32 US cents.
Locally, today we anticipate Australian Current Account data, construction output for September and the Home Size Trends report is released with the Australian Bureau of Statistics. Overseas: US NAHB housing index for November as well as Japanese trade data for October.